Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Mar. 11, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'MIDDLEFIELD BANC CORP | ' | ' |
Document Type | '10-K | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 2,032,974 | ' |
Entity Public Float | ' | ' | $5,300,000 |
Amendment Flag | 'false | ' | ' |
Entity Central Index Key | '0000836147 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
ASSETS | ' | ' | ||
Cash and due from banks | $20,926,000 | $33,568,000 | ||
Federal funds sold | 5,267,000 | 11,778,000 | ||
Cash and cash equivalents | 26,193,000 | 45,346,000 | ||
Investment securities available for sale, at fair value | 157,143,000 | 194,472,000 | ||
Loans | 435,725,000 | 408,433,000 | ||
Less allowance for loan and lease loss | 7,046,000 | 7,779,000 | ||
Net loans | 428,679,000 | 400,654,000 | ||
Premises and equipment, net | 9,828,000 | 8,670,000 | ||
Goodwill | 4,559,000 | 4,559,000 | ||
Core deposit intangibles | 156,000 | 195,000 | ||
Bank-owned life insurance | 8,816,000 | 8,536,000 | ||
Accrued interest and other assets | 11,716,000 | 7,856,000 | ||
TOTAL ASSETS | 647,090,000 | 670,288,000 | ||
Deposits: | ' | ' | ||
Noninterest-bearing demand | 85,905,000 | 75,912,000 | ||
Interest-bearing demand | 53,741,000 | 63,915,000 | ||
Money market | 77,473,000 | 81,349,000 | ||
Savings | 177,303,000 | 175,406,000 | ||
Time | 174,414,000 | 196,753,000 | ||
Total deposits | 568,836,000 | 593,335,000 | ||
Short-term borrowings | 10,809,000 | 6,538,000 | ||
Other borrowings | 11,609,000 | 12,970,000 | ||
Accrued interest and other liabilities | 2,363,000 | 2,008,000 | ||
TOTAL LIABILITIES | 593,617,000 | 614,851,000 | ||
STOCKHOLDERS' EQUITY | ' | ' | ||
Common stock, no par value; 10,000,000 shares authorized, 2,221,834 and 2,181,763 shares issued; 2,032,304 and 1,992,233 shares outstanding | 34,979,000 | 34,295,000 | ||
Retained earnings | 27,465,000 | 22,485,000 | ||
Accumulated other comprehensive (loss) income | -2,237,000 | [1] | 5,391,000 | [1] |
Treasury stock, at cost; 189,530 shares | -6,734,000 | -6,734,000 | ||
TOTAL STOCKHOLDERS' EQUITY | 53,473,000 | 55,437,000 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $647,090,000 | $670,288,000 | ||
[1] | Amounts in parentheses indicate debits to net income |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 2,221,834 | 2,181,763 |
Common stock, no par value (in Dollars per share) | $0 | $0 |
Common stock, shares outstanding | 2,032,304 | 1,992,233 |
Treasury stock, shares | 189,530 | 189,530 |
Consolidated_Statement_of_Inco
Consolidated Statement of Income (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
INTEREST INCOME | ' | ' | ' |
Interest and fees on loans | $22,496,000 | $22,418,000 | $21,854,000 |
Interest-bearing deposits in other institutions | 30,000 | 26,000 | 14,000 |
Federal funds sold | 15,000 | 20,000 | 12,000 |
Investment securities: | ' | ' | ' |
Taxable interest | 2,514,000 | 3,209,000 | 4,862,000 |
Tax-exempt interest | 3,044,000 | 2,976,000 | 2,883,000 |
Dividends on stock | 79,000 | 97,000 | 102,000 |
Total interest income | 28,178,000 | 28,746,000 | 29,727,000 |
INTEREST EXPENSE | ' | ' | ' |
Deposits | 4,709,000 | 5,728,000 | 7,467,000 |
Short-term borrowings | 178,000 | 261,000 | 235,000 |
Federal funds purchased | 7,000 | ' | ' |
Other borrowings | 166,000 | 294,000 | 400,000 |
Trust preferred securities | 190,000 | 164,000 | 550,000 |
Total interest expense | 5,250,000 | 6,447,000 | 8,652,000 |
NET INTEREST INCOME | 22,928,000 | 22,299,000 | 21,075,000 |
Provision for loan losses | 196,000 | 2,168,000 | 3,085,000 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 22,732,000 | 20,131,000 | 17,990,000 |
NONINTEREST INCOME | ' | ' | ' |
Service charges on deposit accounts | 1,956,000 | 1,765,000 | 1,512,000 |
Investment securities gains (losses), net | 11,000 | 610,000 | -173,000 |
Earnings on bank-owned life insurance | 280,000 | 279,000 | 278,000 |
Gains on sale of loans | ' | 85,000 | ' |
Other income | 898,000 | 712,000 | 620,000 |
Total noninterest income | 3,145,000 | 3,451,000 | 2,237,000 |
NONINTEREST EXPENSE | ' | ' | ' |
Salaries and employee benefits | 7,913,000 | 7,127,000 | 7,233,000 |
Occupancy expense | 1,231,000 | 959,000 | 953,000 |
Equipment expense | 950,000 | 759,000 | 556,000 |
Data processing costs | 854,000 | 772,000 | 693,000 |
Ohio state franchise tax | 618,000 | 590,000 | 461,000 |
Federal deposit insurance expense | 516,000 | 487,000 | 966,000 |
Professional fees | 1,174,000 | 948,000 | 800,000 |
Losses on other real estate owned | 18,000 | 258,000 | 497,000 |
Advertising expenses | 445,000 | 423,000 | 439,000 |
Other real estate expenses | 410,000 | 498,000 | 194,000 |
Directors fees | 403,000 | 386,000 | 315,000 |
Other expense | 2,338,000 | 2,432,000 | 2,394,000 |
Total noninterest expense | 16,870,000 | 15,639,000 | 15,501,000 |
Income before income taxes | 9,007,000 | 7,943,000 | 4,726,000 |
Income taxes | 1,979,000 | 1,662,000 | 596,000 |
NET INCOME | $7,028,000 | $6,281,000 | $4,130,000 |
EARNINGS PER SHARE | ' | ' | ' |
Basic (in Dollars per share) | $3.48 | $3.29 | $2.45 |
Diluted (in Dollars per share) | $3.47 | $3.28 | $2.45 |
DIVIDENDS DECLARED PER SHARE (in Dollars per share) | $1.04 | $1.04 | $1.04 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | |
Net income | $7,028 | $6,281 | $4,130 | |
Other comprehensive (loss) income: | ' | ' | ' | |
Net unrealized holding gain (loss) on available for sale investment securities | -11,546 | 1,897 | 5,969 | |
Tax effect | 3,925 | -644 | -2,029 | |
Reclassification adjustment for investment security (gains) losses included in net income | -11 | -610 | 173 | |
Tax effect | 4 | 207 | -59 | |
Total other comprehensive (loss) income | -7,628 | [1] | 850 | 4,054 |
Comprehensive (loss) income | ($600) | $7,131 | $8,184 | |
[1] | Amounts in parentheses indicate debits to net income |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Stockholders' Equity (USD $) | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
In Thousands, except Share data | |||||
Balance, December 31, 2013 at Dec. 31, 2010 | $28,429 | $15,840 | $487 | ($6,734) | $38,022 |
Balance, December 31, 2013 (in Shares) at Dec. 31, 2010 | 1,780,553 | ' | ' | ' | ' |
Net income | ' | 4,130 | ' | ' | 4,130 |
Comprehensive income | ' | ' | 4,054 | ' | 4,054 |
Expense related to stock options | 59 | ' | ' | ' | 59 |
Expense related to stock options (in Shares) | 2,400 | ' | ' | ' | ' |
Common stock issuance | 2,210 | ' | ' | ' | 2,210 |
Common stock issuance (in Shares) | 138,150 | ' | ' | ' | ' |
Dividend reinvestment and purchase plan | 542 | ' | ' | ' | 542 |
Dividend reinvestment and purchase plan (in Shares) | 30,765 | ' | ' | ' | ' |
Cash dividends | ' | -1,764 | ' | ' | -1,764 |
Balance at Dec. 31, 2011 | 31,240 | 18,206 | 4,541 | -6,734 | 47,253 |
Balance (in Shares) at Dec. 31, 2011 | 1,951,868 | ' | ' | ' | ' |
Net income | ' | 6,281 | ' | ' | 6,281 |
Comprehensive income | ' | ' | 850 | ' | 850 |
Expense related to stock options | 32 | ' | ' | ' | 32 |
Expense related to stock options (in Shares) | 1,722 | ' | ' | ' | ' |
Common stock issuance | 2,329 | ' | ' | ' | 2,329 |
Common stock issuance (in Shares) | 196,635 | ' | ' | ' | ' |
Dividend reinvestment and purchase plan | 694 | ' | ' | ' | 694 |
Dividend reinvestment and purchase plan (in Shares) | 31,538 | ' | ' | ' | ' |
Cash dividends | ' | -2,002 | ' | ' | -2,002 |
Balance at Dec. 31, 2012 | 34,295 | 22,485 | 5,391 | -6,734 | 55,437 |
Balance (in Shares) at Dec. 31, 2012 | 2,181,763 | ' | ' | ' | ' |
Net income | ' | 7,028 | ' | ' | 7,028 |
Comprehensive income | ' | ' | -7,628 | ' | -7,628 |
Common stock issuance | 74 | ' | ' | ' | 74 |
Common stock issuance (in Shares) | 13,320 | ' | ' | ' | ' |
Dividend reinvestment and purchase plan | 736 | ' | ' | ' | 736 |
Dividend reinvestment and purchase plan (in Shares) | 25,751 | ' | ' | ' | ' |
Stock options exercised | -126 | 49 | ' | ' | -77 |
Stock options exercised (in Shares) | 1,000 | ' | ' | ' | 21,112 |
Cash dividends | ' | -2,097 | ' | ' | -2,097 |
Balance at Dec. 31, 2013 | $34,979 | $27,465 | ($2,237) | ($6,734) | $53,473 |
Balance (in Shares) at Dec. 31, 2013 | 2,221,834 | ' | ' | ' | ' |
Consolidated_Statement_of_Chan1
Consolidated Statement of Changes in Stockholders' Equity (Parentheticals) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash dividends per share | $1.04 | $1.04 | $1.04 |
Common Stock [Member] | ' | ' | ' |
Cash dividends per share | $1.04 | $1.04 | $1.04 |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' |
(in Dollars) | $139 | $816 | ' |
Treasury Stock [Member] | ' | ' | ' |
Cash dividends per share | ' | $1.04 | ' |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
OPERATING ACTIVITIES | ' | ' | ' |
Net income | $7,028,000 | $6,281,000 | $4,130,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Provision for loan losses | 196,000 | 2,168,000 | 3,085,000 |
Investment securities (gains) losses, net | -11,000 | -610,000 | 173,000 |
Depreciation and amortization | 891,000 | 929,000 | 731,000 |
Amortization of premium and discount on investment securities | 1,100,000 | 930,000 | 451,000 |
Accretion of deferred loan fees, net | -245,000 | -188,000 | -170,000 |
Origination of loans held for sale | ' | -1,084,000 | ' |
Proceeds from sale of loans held for sale | ' | 1,169,000 | ' |
Gains on sale of loans | ' | -85,000 | ' |
Earnings on bank-owned life insurance | -280,000 | -279,000 | -278,000 |
Deferred income taxes | 423,000 | 2,000 | -97,000 |
Stock-based compensation expense | ' | 32,000 | 59,000 |
Loss on other real estate owned | 18,000 | 258,000 | 497,000 |
Decrease in accrued interest receivable | 28,000 | 71,000 | 25,000 |
Decrease in accrued interest payable | -128,000 | -153,000 | -145,000 |
Decrease in prepaid federal deposit insurance | 513,000 | 486,000 | 707,000 |
Other, net | 364,000 | 355,000 | -22,000 |
Net cash provided by operating activities | 9,897,000 | 10,282,000 | 9,146,000 |
Investment securities available for sale: | ' | ' | ' |
Proceeds from repayments and maturities | 25,411,000 | 50,919,000 | 69,264,000 |
Proceeds from sale of securities | 25,088,000 | 32,985,000 | 24,127,000 |
Purchases | -25,815,000 | -83,431,000 | -80,078,000 |
Increase in loans, net | -29,829,000 | -8,435,000 | -32,956,000 |
Proceeds from the sale of other real estate owned | 882,000 | 954,000 | 866,000 |
Purchase of premises and equipment | -1,834,000 | -997,000 | -583,000 |
Net cash used for investing activities | -6,097,000 | -8,005,000 | -19,360,000 |
FINANCING ACTIVITIES | ' | ' | ' |
Net increase (decrease) in deposits | -24,499,000 | 12,373,000 | 15,711,000 |
Increase (decrease) in short-term borrowings, net | 4,271,000 | -854,000 | -240,000 |
Repayment of other borrowings | -1,361,000 | -3,861,000 | -2,490,000 |
Common stock issued | 74,000 | 2,329,000 | 2,210,000 |
Stock options exercised | -77,000 | ' | ' |
Proceeds from dividend reinvestment and purchase plan | 736,000 | 694,000 | 542,000 |
Cash dividends | -2,097,000 | -2,002,000 | -1,764,000 |
Net cash (used for) provided by financing activities | -22,953,000 | 8,679,000 | 13,969,000 |
(Decrease) increase in cash and cash equivalents | -19,153,000 | 10,956,000 | 3,755,000 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 45,346,000 | 34,390,000 | 30,635,000 |
CASH AND CASH EQUIVALENTS AT END OF YEAR | 26,193,000 | 45,346,000 | 34,390,000 |
Cash paid during the year for: | ' | ' | ' |
Interest on deposits and borrowings | 5,378,000 | 6,600,000 | 8,797,000 |
Income taxes | 1,620,000 | 1,550,000 | 615,000 |
Non-cash investing transactions: | ' | ' | ' |
Transfers from loans to other real estate owned | 2,113,000 | 862,000 | 1,257,000 |
Loans to facilitate the sale of other real estate owned | ($260,000) | ' | ' |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||||||||||
1 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||||||
A summary of the significant accounting and reporting policies applied in the presentation of the accompanying financial statements follows: | |||||||||||||||||
Nature of Operations and Basis of Presentation | |||||||||||||||||
Middlefield Banc Corp. (the “Company”) is an Ohio corporation organized to become the holding company of The Middlefield Banking Company (“MBC”). MBC is a state-chartered bank located in Ohio. On April 19, 2007, Middlefield Banc Corp. acquired Emerald Bank (“EB”), an Ohio-chartered commercial bank headquartered in Dublin, Ohio. On October 23, 2009, the Company established an asset resolution subsidiary named EMORECO, Inc. The Company and its subsidiaries derive substantially all of their income from banking and bank-related services, which includes interest earnings on residential real estate, commercial mortgage, commercial and consumer financings as well as interest earnings on investment securities and deposit services to its customers through ten locations. The Company is supervised by the Board of Governors of the Federal Reserve System, while MBC and EB are subject to regulation and supervision by the Federal Deposit Insurance Corporation and the Ohio Division of Financial Institutions. EB merged into MBC on January 20, 2014. | |||||||||||||||||
The consolidated financial statements of the Company include its wholly-owned subsidiaries, MBC, EB, and EMORECO, Inc. (the “Banks”). Significant intercompany items have been eliminated in preparing the consolidated financial statements. | |||||||||||||||||
The financial statements have been prepared in conformity with U.S. generally accepted accounting principles. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ from those estimates. | |||||||||||||||||
Investment Securities | |||||||||||||||||
Investment securities are classified at the time of purchase, based on management’s intention and ability, as securities held to maturity or securities available for sale. Debt securities acquired with the intent and ability to hold to maturity are stated at cost adjusted for amortization of premium and accretion of discount, which are computed using a level yield method and recognized as adjustments of interest income. Certain other debt securities have been classified as available for sale to serve principally as a source of liquidity. Unrealized holding gains and losses for available-for-sale securities are reported as a separate component of stockholders’ equity, net of tax, until realized. Realized security gains and losses are computed using the specific identification method. Interest and dividends on investment securities are recognized as income when earned. | |||||||||||||||||
Common stock of the Federal Home Loan Bank (“FHLB”) represents ownership in an institution that is wholly owned by other financial institutions. This equity security is accounted for at cost and classified with other assets. The FHLB of Cincinnati has reported profits for 2013 and 2012, remains in compliance with regulatory capital and liquidity requirements, and continues to pay dividends on the stock and make redemptions at the par value. With consideration given to these factors, management concluded that the stock was not impaired at December 31, 2013 or 2012. | |||||||||||||||||
Securities are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether a decline in their value is other than temporary. For debt securities, management considers whether the present value of cash flows expected to be collected are less than the security’s amortized cost basis (the difference defined as the credit loss), the magnitude and duration of the decline, the reasons underlying the decline and the Company’s intent to sell the security or whether it is more likely than not that the Company would be required to sell the security before its anticipated recovery in market value, to determine whether the loss in value is other than temporary. Once a decline in value is determined to be other than temporary, if the Company does not intend to sell the security, and it is more likely than not that it will not be required to sell the security, before recovery of the security’s amortized cost basis, the charge to earnings is limited to the amount of credit loss. Any remaining difference between fair value and amortized cost (the difference defined as the non-credit portion) is recognized in other comprehensive income, net of applicable taxes. Otherwise, the entire difference between fair value and amortized cost is charged to earnings. For equity securities where the fair value has been significantly below cost for one year, the Company’s policy is to recognize an impairment loss unless sufficient evidence is available that the decline is not other than temporary and a recovery period can be predicted. | |||||||||||||||||
Loans | |||||||||||||||||
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff generally are reported at their outstanding unpaid principal balances net of the allowance for loan and lease loss. Interest income is recognized as income when earned on the accrual method. The accrual of interest is discontinued on a loan when management believes, after considering economic and business conditions, the borrower’s financial condition is such that collection of interest is doubtful. Interest received on nonaccrual loans is recorded as income or applied against principal according to management’s judgment as to the collectability of such principal. | |||||||||||||||||
Loan origination fees and certain direct loan origination costs are being deferred and the net amount amortized as an adjustment of the related loan’s yield. Management is amortizing these amounts over the contractual life of the related loans. | |||||||||||||||||
Allowance for Loan and Lease Loss | |||||||||||||||||
The allowance for loan and lease loss represents the amount which management estimates is adequate to provide for probable loan losses inherent in the loan portfolio. The allowance method is used in providing for loan losses. Accordingly, all loan losses are charged to the allowance, and all recoveries are credited to it. The allowance for loan and lease loss is established through a provision for loan losses which is charged to operations. The provision is based on management’s periodic evaluation of the adequacy of the allowance for loan and lease loss, which encompasses the overall risk characteristics of the various portfolio segments, past experience with losses, the impact of economic conditions on borrowers, and other relevant factors. The estimates used in determining the adequacy of the allowance for loan and lease loss, including the amounts and timing of future cash flows expected on impaired loans, are particularly susceptible to significant change in the near term. | |||||||||||||||||
A loan is considered impaired when it is probable the borrower will not repay the loan according to the original contractual terms of the loan agreement. Management has determined that first mortgage loans on one-to-four family properties and all consumer loans represent large groups of smaller-balance homogeneous loans that are to be collectively evaluated. Loans that experience insignificant payment delays, which are defined as 90 days or less, generally are not classified as impaired. A loan is not impaired during a period of delay in payment if the Company expects to collect all amounts due, including interest accrued, at the contractual interest rate for the period of delay. All loans identified as impaired are evaluated independently by management. The Company estimates credit losses on impaired loans based on the present value of expected cash flows or the fair value of the underlying collateral if the loan repayment is expected to come from the sale or operation of such collateral. Impaired loans, or portions thereof, are charged off when it is determined a realized loss has occurred. Until such time, an allowance for loan and lease loss is maintained for estimated losses. Cash receipts on impaired loans are applied first to accrued interest receivable unless otherwise required by the loan terms, except when an impaired loan is also a nonaccrual loan, in which case the portion of the payment related to interest is recognized as income. | |||||||||||||||||
Mortgage loans secured by one-to-four family properties and all consumer loans are large groups of smaller-balance homogeneous loans and are measured for impairment collectively. Management determines the significance of payment delays on a case-by-case basis, taking into consideration all circumstances concerning the loan, the creditworthiness and payment history of the borrower, the length of the payment delay, and the amount of shortfall in relation to the principal and interest owed. | |||||||||||||||||
Premises and Equipment | |||||||||||||||||
Land is carried at cost. Premises and equipment are stated at cost net of accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the assets, which range from 3 to 20 years for furniture, fixtures, and equipment and 3 to 40 years for buildings and leasehold improvements. Expenditures for maintenance and repairs are charged against income as incurred. Costs of major additions and improvements are capitalized. | |||||||||||||||||
Goodwill | |||||||||||||||||
The Company accounts for goodwill using a two-step process for testing the impairment of goodwill on at least an annual basis. This approach could cause more volatility in the Company’s reported net income because impairment losses, if any, could occur irregularly and in varying amounts. No impairment of goodwill was recognized in any of the periods presented. | |||||||||||||||||
Intangible Assets | |||||||||||||||||
Intangible assets include core deposit intangibles, which are a measure of the value of consumer demand and savings deposits acquired in business combinations accounted for as purchases. The core deposit intangibles are being amortized to expense over a 10 year life on a straight-line basis. The recoverability of the carrying value of intangible assets is evaluated on an ongoing basis, and permanent declines in value, if any, are charged to expense. | |||||||||||||||||
Bank-Owned Life Insurance (“BOLI”) | |||||||||||||||||
The Company owns insurance on the lives of a certain group of key employees. The policies were purchased to help offset the increase in the costs of various fringe benefit plans including healthcare. The cash surrender value of these policies is included as an asset on the Consolidated Balance Sheet and any increases in the cash surrender value are recorded as noninterest income on the Consolidated Statement of Income. In the event of the death of an insured individual under these policies, the Company would receive a death benefit, which would be recorded as noninterest income. | |||||||||||||||||
Other Real Estate Owned | |||||||||||||||||
Real estate properties acquired through foreclosure are initially recorded at fair value at the date of foreclosure, establishing a new cost basis. After foreclosure, management periodically performs valuations and the real estate is carried at the lower of cost or fair value less estimated cost to sell. Revenue and expenses from operations of the properties, gains or losses on sales and additions to the valuation allowance are included in operating results. | |||||||||||||||||
Income Taxes | |||||||||||||||||
The Company and its subsidiaries file a consolidated federal income tax return. Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. | |||||||||||||||||
Earnings Per Share | |||||||||||||||||
The Company provides dual presentation of basic and diluted earnings per share. Basic earnings per share are calculated utilizing net income as reported in the numerator and average shares outstanding in the denominator. The computation of diluted earnings per share differs in that the dilutive effects of any stock options, warrants, and convertible securities are adjusted in the denominator. | |||||||||||||||||
Stock-Based Compensation | |||||||||||||||||
The Company accounts for stock compensation based on the grant date fair value of all share-based payment awards that are expected to vest, including employee share options to be recognized as employee compensation expense over the requisite service period. | |||||||||||||||||
For purposes of computing results, the Company estimated the fair values of stock options using the Black-Scholes option-pricing model. The model requires the use of subjective assumptions that can materially affect fair value estimates. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the option and each vesting date. The fair value of each stock option granted was estimated using the following weighted-average assumptions: | |||||||||||||||||
Grant | Expected | Risk-Free | Expected | Expected | |||||||||||||
Year | Dividend | Interest Rate | Volatility | Life (in years) | |||||||||||||
Yield | |||||||||||||||||
2011 | 5.82 | % | 3 | % | 21.78 | 9.96 | |||||||||||
During the years ended December 31, 2013, 2012, and 2011, the Company recorded $0, $0, and $16,000, of compensation cost related to vested stock options. As of December 31, 2013, there was no unrecognized compensation cost related to unvested stock options. The weighted-average fair value of the stock option granted for 2011 was $1.75. | |||||||||||||||||
The Company also issued 1,722 and 2,400 shares of restricted stock and recorded stock–based compensation expense of $32,000 and $43,000 in 2012 and 2011, respectively. There were no shares of restricted stock issued in 2013. | |||||||||||||||||
For the year ended December 31, 2013, 21,112 options were exercised resulting in net proceeds of $77,000. | |||||||||||||||||
Cash Flow Information | |||||||||||||||||
The Company has defined cash and cash equivalents as those amounts included in the Consolidated Balance Sheet captions as “Cash and due from banks” and “Federal funds sold” with original maturities of less than 90 days. | |||||||||||||||||
Advertising Costs | |||||||||||||||||
Advertising costs are expensed as incurred. Advertising expenses amounted to $445,000, $423,000, and $439,000, for 2013, 2012, and 2011, respectively. | |||||||||||||||||
Reclassification of Comparative Amounts | |||||||||||||||||
Certain comparative amounts for prior years have been reclassified to conform to current-year presentations. Such reclassifications did not affect net income or retained earnings. | |||||||||||||||||
Recent Accounting Pronouncements | |||||||||||||||||
In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The standard requires that companies present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. The new requirements will take effect for public companies in fiscal years, and interim periods within those years, beginning after December 15, 2012. The Company adopted this standard on January 1, 2013. The effect of adopting this standard increased our disclosure surrounding reclassification items out of accumulated other comprehensive income. | |||||||||||||||||
In February 2013, the FASB issued ASU 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date. The ASU requires the measurement of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement with its co-obligors as well as any additional amount that the entity expects to pay on behalf of its co-obligors. The new standard is effective retrospectively for fiscal years and interim periods within those years, beginning after December 15, 2013, and early adoption is permitted. This ASU is not expected to have a significant impact on the Company’s financial statements. | |||||||||||||||||
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This Update applies to all entities that have unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. An unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. The amendments in this Update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. For nonpublic entities, the amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. Early adoption is permitted. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. | |||||||||||||||||
In January 2014, FASB issued ASU 2014-01, Investments – Equity Method and Join Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. The amendments in this Update permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in this Update should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those preexisting investments. The amendments in this Update are effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. This ASU is not expected to have a significant impact on the Company’s financial statements. | |||||||||||||||||
In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The amendments in this Update clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method. This ASU is not expected to have a significant impact on the Company’s financial statement. |
Note_2_Earnings_Per_Share
Note 2 - Earnings Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
EARNINGS PER SHARE [Abstract] | ' | ||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||
2 | EARNINGS PER SHARE | ||||||||||||
There are no convertible securities that would affect the numerator in calculating basic and diluted earnings per share; therefore, net income as presented on the Consolidated Statement of Income will be used as the numerator. The following table sets forth the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computation for year-ended December 31. | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Weighted-average common shares outstanding | 2,206,392 | 2,101,490 | 1,872,582 | ||||||||||
Average treasury stock shares | (189,530 | ) | (189,530 | ) | (189,530 | ) | |||||||
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share | 2,016,862 | 1,911,960 | 1,683,052 | ||||||||||
Additional common stock equivalents used to calculate diluted earnings per share | 7,178 | 4,972 | - | ||||||||||
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share | 2,024,040 | 1,916,932 | 1,683,052 | ||||||||||
Options to purchase 58,581 shares of common stock at prices ranging from $17.55 to $40.24 were outstanding during the year ended December 31, 2013. Of those options, 39,808 were considered dilutive based on the average market price exceeding the strike price for the year ended December 31, 2013. The remaining options had no dilutive effect on the earnings per share. | |||||||||||||
Options to purchase 79,693 shares of common stock at prices ranging from $17.55 to $40.24 were outstanding during the year ended December 31, 2012. Of those options, 8,875 were considered dilutive based on the average market price exceeding the strike price for the year ended December 31, 2012. In accordance with the subscription agreement entered into by an institutional investor, there were also an additional 12,419 shares, at $16 per share, considered dilutive for the year ended December 31, 2012. The remaining options had no dilutive effect on the earnings per share. | |||||||||||||
Options to purchase 88,774 shares of common stock at prices ranging from $17.55 to $40.24 were outstanding during the year ended December 31, 2011, but were not included in the computation of diluted earnings per share as they were anti-dilutive due to the strike price being greater than the average market price as of December 31, 2011. |
Note_3_Investment_Securities_A
Note 3 - Investment Securities Available For Sale | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||||||||||||||
3 | INVESTMENT SECURITIES AVAILABLE FOR SALE | ||||||||||||||||||||||||
The amortized cost and fair values of securities available for sale are as follows: | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. government agency securities | $ | 27,289 | $ | 135 | (1,661 | ) | $ | 25,763 | |||||||||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Taxable | 3,787 | 46 | (38 | ) | 3,795 | ||||||||||||||||||||
Tax-exempt | 86,524 | 1,562 | (3,267 | ) | 84,819 | ||||||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 38,816 | 535 | (1,028 | ) | 38,323 | ||||||||||||||||||||
Private-label mortgage-backed securities | 3,366 | 327 | - | 3,693 | |||||||||||||||||||||
Total debt securities | 159,782 | 2,605 | (5,994 | ) | 156,393 | ||||||||||||||||||||
Equity securities in financial institutions | 750 | - | - | 750 | |||||||||||||||||||||
Total | $ | 160,532 | $ | 2,605 | $ | (5,994 | ) | $ | 157,143 | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. government agency securities | $ | 24,485 | $ | 566 | (91 | ) | $ | 24,960 | |||||||||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Taxable | 6,888 | 738 | - | 7,626 | |||||||||||||||||||||
Tax-exempt | 80,391 | 4,683 | (104 | ) | 84,970 | ||||||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 69,238 | 1,929 | (65 | ) | 71,102 | ||||||||||||||||||||
Private-label mortgage-backed securities | 4,553 | 511 | - | 5,064 | |||||||||||||||||||||
Total debt securities | 185,555 | 8,427 | (260 | ) | 193,722 | ||||||||||||||||||||
Equity securities in financial institutions | 750 | - | - | 750 | |||||||||||||||||||||
Total | $ | 186,305 | $ | 8,427 | $ | (260 | ) | $ | 194,472 | ||||||||||||||||
The amortized cost and fair value of debt securities at December 31, 2013, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
(Dollar amounts in thousands) | Cost | Value | |||||||||||||||||||||||
Due in one year or less | $ | 1,530 | $ | 1,552 | |||||||||||||||||||||
Due after one year through five years | 4,640 | 4,858 | |||||||||||||||||||||||
Due after five years through ten years | 22,433 | 22,257 | |||||||||||||||||||||||
Due after ten years | 131,179 | 127,726 | |||||||||||||||||||||||
Total | $ | 159,782 | $ | 156,393 | |||||||||||||||||||||
Investment securities with an approximate carrying value of $66.3 million and $62,5 million at December 31, 2013 and 2012, respectively, were pledged to secure deposits and other purposes as required by law. | |||||||||||||||||||||||||
Proceeds from the sales of securities available for sale and the gross realized gains and losses for the three years ended December, 31 are as follows (in thousands): | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Proceeds from sales | $ | 25,088 | 32,985 | 24,127 | |||||||||||||||||||||
Gross realized gains | 186 | 704 | 830 | ||||||||||||||||||||||
Gross realized losses | (175 | ) | (94 | ) | (809 | ) | |||||||||||||||||||
Impairment losses | - | - | (194 | ) | |||||||||||||||||||||
The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position. | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Less than Twelve Months | Twelve Months or Greater | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
(Dollar amounts in thousands) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. government agency securities | $ | 13,130 | $ | (929 | ) | $ | 7,166 | $ | (732 | ) | $ | 20,295 | $ | (1,661 | ) | ||||||||||
Obligations of states and political subdivisions | |||||||||||||||||||||||||
Taxable | 1,301 | (38 | ) | - | - | 1,301 | (38 | ) | |||||||||||||||||
Tax-exempt | 26,743 | (2,883 | ) | 2,678 | (383 | ) | 29,421 | (3,267 | ) | ||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 18,082 | (757 | ) | 5,248 | (271 | ) | 23,330 | (1,028 | ) | ||||||||||||||||
Total | $ | 59,255 | $ | (4,608 | ) | $ | 15,092 | $ | (1,386 | ) | $ | 74,347 | $ | (5,994 | ) | ||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Less than Twelve Months | Twelve Months or Greater | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
(Dollar amounts in thousands) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. government agency securities | $ | 9,938 | $ | (91 | ) | $ | - | $ | - | $ | 9,938 | $ | (91 | ) | |||||||||||
Obligations of states and political subdivisions | 9,240 | (104 | ) | - | - | 9,240 | (104 | ) | |||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 12,353 | (65 | ) | - | - | 12,353 | (65 | ) | |||||||||||||||||
Total | $ | 31,531 | $ | (260 | ) | $ | - | $ | - | $ | 31,531 | $ | (260 | ) | |||||||||||
There were 98 securities that were considered temporarily impaired at December 31, 2013. | |||||||||||||||||||||||||
On a quarterly basis, the Company performs an assessment to determine whether there have been any events or economic circumstances indicating that a security with an unrealized loss has suffered other-than-temporary impairment (“OTTI”). A debt security is considered impaired if the fair value is less than its amortized cost basis at the reporting date. The accounting literature requires the Company to assess whether the unrealized loss is other-than-temporary. For equity securities where the fair value has been significantly below cost for one year, the Company’s policy is to recognize an impairment loss unless sufficient evidence is available that the decline is not other than temporary and a recovery period can be predicted. | |||||||||||||||||||||||||
The Company has asserted that at December 31, 2013 and 2012, the declines outlined in the above table represent temporary declines and the Company does not intend to sell and does not believe it will be required to sell these securities before recovery of their cost basis, which may be at maturity. The Company has concluded that any impairment of its investment securities portfolio outlined in the above table is not other than temporary and is the result of interest rate changes, sector credit rating changes, or company-specific rating changes that are not expected to result in the noncollection of principal and interest during the period. | |||||||||||||||||||||||||
Debt securities issued by U.S. government agencies, U.S. government-sponsored enterprises, and state and political subdivisions accounted for more than 97.2% of the total available-for-sale portfolio as of December 31, 2013, and no credit losses are expected, given the explicit and implicit guarantees provided by the U.S. federal government and the lack of significant unrealized loss positions within the obligations of state and political subdivisions security portfolio. The Company’s assessment was concentrated mainly on private-label collateralized mortgage obligations of approximately $3.4 million, for which the Company evaluates credit losses on a quarterly basis. Gross unrealized gains related to private-label collateralized mortgage obligations amounted to $327,000, with no associated gross unrealized loss. The Company considered the following factors in determining whether a credit loss exists and the period over which the debt security is expected to recover: | |||||||||||||||||||||||||
● | The length of time and the extent to which the fair value has been less than the amortized cost basis. | ||||||||||||||||||||||||
● | Changes in the near term prospects of the underlying collateral of a security such as changes in default rates, loss severity given default and significant changes in prepayment assumptions. | ||||||||||||||||||||||||
● | The level of cash flows generated from the underlying collateral supporting the principal and interest payments of the debt securities. | ||||||||||||||||||||||||
● | Any adverse change to the credit conditions and liquidity of the issuer, taking into consideration the latest information available about the overall financial condition of the issuer, credit ratings, recent legislation, and government actions affecting the issuer’s industry and actions taken by the issuer to deal with the present economic climate. | ||||||||||||||||||||||||
The Company determined equity securities in financial institutions to be other than temporarily impaired and recognized a loss of $194,000 in 2011. This amount represents a before-tax, non-cash charge, and was recorded as a reduction to noninterest income. | |||||||||||||||||||||||||
The Company’s investment in one private-label collateralized mortgage obligation with a carrying value of $899,000 was impaired in 2011 as a result of the Company’s determination that declines in their fair value were other than temporary. As a result of this determination, the Company recognized a $35,000 before-tax, non-cash charge, which was recorded as a reduction to noninterest income. |
Note_4_Loans_and_Related_Allow
Note 4 - Loans and Related Allowance for Loan Losses | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||
4 | LOANS AND RELATED ALLLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||||||
Major classifications of loans at December 31 are summarized as follows (in thousands): | |||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Commercial and industrial | $ | 54,498 | $ | 62,188 | |||||||||||||||||||||||||
Real estate - construction | 25,601 | 22,522 | |||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 210,310 | 203,872 | |||||||||||||||||||||||||||
Commercial | 141,171 | 115,734 | |||||||||||||||||||||||||||
Consumer installment | 4,145 | 4,117 | |||||||||||||||||||||||||||
435,725 | 408,433 | ||||||||||||||||||||||||||||
Less allowance for loan and lease loss | (7,046 | ) | (7,779 | ) | |||||||||||||||||||||||||
Net loans | $ | 428,679 | $ | 400,654 | |||||||||||||||||||||||||
The Company’s primary business activity is with customers located within its local trade area, eastern Geauga County, and contiguous counties to the north, east, and south. The Company also serves the central Ohio market with offices in Dublin and Westerville, Ohio. Commercial, residential, consumer, and agricultural loans are granted. Although the Company has a diversified loan portfolio at December 31, 2013 and 2012, loans outstanding to individuals and businesses are dependent upon the local economic conditions in its immediate trade area. | |||||||||||||||||||||||||||||
The following table summarizes the primary segments of the loan portfolio and the allowance for loan and lease loss as of December 31, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||||||
Real Estate- Mortgage | |||||||||||||||||||||||||||||
31-Dec-13 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,891 | $ | 4,011 | $ | 5,882 | $ | 7,175 | $ | 6 | $ | 18,965 | |||||||||||||||||
Collectively evaluated for impairment | 52,607 | 21,590 | 204,428 | 133,996 | 4,139 | 416,760 | |||||||||||||||||||||||
Total loans | $ | 54,498 | $ | 25,601 | $ | 210,310 | $ | 141,171 | $ | 4,145 | $ | 435,725 | |||||||||||||||||
Real estate- Mortgage | |||||||||||||||||||||||||||||
31-Dec-12 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,592 | $ | 3,993 | $ | 5,761 | $ | 6,914 | $ | 28 | $ | 21,288 | |||||||||||||||||
Collectively evaluated for impairment | 57,596 | 18,529 | 198,111 | 108,820 | 4,089 | 387,145 | |||||||||||||||||||||||
Total loans | $ | 62,188 | $ | 22,522 | $ | 203,872 | $ | 115,734 | $ | 4,117 | $ | 408,433 | |||||||||||||||||
Real Estate- Mortgage | |||||||||||||||||||||||||||||
31-Dec-13 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Allowance for loan and lease loss: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 179 | $ | 210 | $ | 855 | $ | 563 | $ | - | $ | 1,807 | |||||||||||||||||
Collectively evaluated for impairment | 435 | 366 | 2,809 | 1,607 | 22 | 5,239 | |||||||||||||||||||||||
Total ending allowance balance | $ | 614 | $ | 576 | $ | 3,664 | $ | 2,170 | $ | 22 | $ | 7,046 | |||||||||||||||||
Real Estate- Mortgage | |||||||||||||||||||||||||||||
31-Dec-12 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Allowance for loan and lease loss: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,189 | $ | 933 | $ | 600 | $ | 960 | $ | 6 | $ | 3,688 | |||||||||||||||||
Collectively evaluated for impairment | 543 | 190 | 2,272 | 1,031 | 55 | 4,091 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,732 | $ | 1,123 | $ | 2,872 | $ | 1,991 | $ | 61 | $ | 7,779 | |||||||||||||||||
The Company’s loan portfolio is segmented to a level that allows management to monitor risk and performance. The portfolio is segmented into Commercial and Industrial (“C&I”), Real Estate Construction, Real Estate - Mortgage which is further segmented into Residential and Commercial real estate, and Consumer Installment Loans. The C&I loan segment consists of loans made for the purpose of financing the activities of commercial customers. The residential mortgage loan segment consists of loans made for the purpose of financing the activities of residential homeowners. The commercial mortgage loan segment consists of loans made for the purpose of financing the activities of commercial real estate owners and operators. The consumer loan segment consists primarily of installment loans and overdraft lines of credit connected with customer deposit accounts. | |||||||||||||||||||||||||||||
Management evaluates individual loans in all of the commercial segments for possible impairment if the loan is greater than $150,000 and if the loan either is in nonaccrual status, or is risk rated Special Mention or Substandard and is greater than 90 days past due. Loans are considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in evaluating impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company does not separately evaluate individual consumer and residential mortgage loans for impairment, unless such loans are part of a larger relationship that is impaired. | |||||||||||||||||||||||||||||
Once the determination has been made that a loan is impaired, the determination of whether a specific allocation of the allowance is necessary is measured by comparing the recorded investment in the loan to the fair value of the loan using one of three methods: (a) the present value of expected future cash flows discounted at the loan’s effective interest rate; (b) the loan’s observable market price; or (c) the fair value of the collateral less selling costs. The method is selected on a loan-by-loan basis, with management primarily utilizing the fair value of collateral method. The evaluation of the need and amount of a specific allocation of the allowance and whether a loan can be removed from impairment status is made on a quarterly basis. The Company’s policy for recognizing interest income on impaired loans does not differ from its overall policy for interest recognition. | |||||||||||||||||||||||||||||
The following tables present impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary (in thousands): | |||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
Unpaid | |||||||||||||||||||||||||||||
Recorded | Principal | Related | |||||||||||||||||||||||||||
Investment | Balance | Allowance | |||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,357 | $ | 1,357 | $ | - | |||||||||||||||||||||||
Real estate - construction | 124 | 124 | - | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 2,704 | 2,892 | - | ||||||||||||||||||||||||||
Commercial | 5,093 | 5,093 | - | ||||||||||||||||||||||||||
Consumer installment | 6 | 6 | - | ||||||||||||||||||||||||||
Total | $ | 9,284 | $ | 9,472 | $ | - | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 534 | $ | 534 | $ | 179 | |||||||||||||||||||||||
Real estate - construction | 3,887 | 3,887 | 210 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 3,178 | 3,217 | 855 | ||||||||||||||||||||||||||
Commercial | 2,082 | 2,082 | 563 | ||||||||||||||||||||||||||
Total | $ | 9,681 | $ | 9,720 | $ | 1,807 | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,891 | $ | 1,891 | $ | 179 | |||||||||||||||||||||||
Real estate - construction | 4,011 | 4,011 | 210 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,882 | 6,109 | 855 | ||||||||||||||||||||||||||
Commercial | 7,175 | 7,175 | 563 | ||||||||||||||||||||||||||
Consumer installment | 6 | 6 | - | ||||||||||||||||||||||||||
Total | $ | 18,965 | $ | 19,192 | $ | 1,807 | |||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
Unpaid | |||||||||||||||||||||||||||||
Recorded | Principal | Related | |||||||||||||||||||||||||||
Investment | Balance | Allowance | |||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,230 | $ | 1,229 | $ | - | |||||||||||||||||||||||
Real estate - construction | 308 | 308 | - | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 2,716 | 2,729 | - | ||||||||||||||||||||||||||
Commercial | 4,143 | 4,164 | - | ||||||||||||||||||||||||||
Consumer installment | 11 | 11 | - | ||||||||||||||||||||||||||
Total | $ | 8,408 | $ | 8,441 | $ | - | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 3,362 | $ | 3,367 | $ | 1,189 | |||||||||||||||||||||||
Real estate - construction | 3,685 | 3,685 | 933 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 3,045 | 3,054 | 600 | ||||||||||||||||||||||||||
Commercial | 2,771 | 2,776 | 960 | ||||||||||||||||||||||||||
Consumer installment | 17 | 17 | 6 | ||||||||||||||||||||||||||
Total | $ | 12,880 | $ | 12,899 | $ | 3,688 | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 4,592 | $ | 4,596 | $ | 1,189 | |||||||||||||||||||||||
Real estate - construction | 3,993 | 3,993 | 933 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,761 | 5,783 | 600 | ||||||||||||||||||||||||||
Commercial | 6,914 | 6,940 | 960 | ||||||||||||||||||||||||||
Consumer installment | 28 | 28 | 6 | ||||||||||||||||||||||||||
Total | $ | 21,288 | $ | 21,340 | $ | 3,688 | |||||||||||||||||||||||
The tables above include troubled debt restructuring totaling $6.1 million and $4.6 million as of December 31, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||
The following table presents interest income by class, recognized on impaired loans (in thousands): | |||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | As of December 31, 2011 | |||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,187 | $ | 119 | $ | 2,776 | $ | 348 | $ | 1,637 | $ | 58 | |||||||||||||||||
Real estate - construction | 3,743 | 183 | 2,798 | 156 | 4,521 | 216 | |||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,380 | 293 | 4,263 | 338 | 3,188 | 157 | |||||||||||||||||||||||
Commercial | 6,500 | 493 | 4,717 | 543 | 5,083 | 97 | |||||||||||||||||||||||
Consumer installment | 13 | 1 | 27 | 3 | 24 | 2 | |||||||||||||||||||||||
The following tables present the number of loan modifications by class and the corresponding recorded investment (in thousands): | |||||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the year ended of December 31, 2013 | |||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding | ||||||||||||||||||||||||||||
Rate | Recorded | ||||||||||||||||||||||||||||
Troubled Debt Restructurings | Forgiveness | Other | Total | Investment | |||||||||||||||||||||||||
Commercial and industrial | 6 | 1 | 7 | $ | 1,264 | ||||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | 7 | - | 7 | 784 | |||||||||||||||||||||||||
Commercial | 2 | - | 2 | 834 | |||||||||||||||||||||||||
Troubled Debt Restructurings subsequently defaulted | Number of | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | ||||||||||||||||||||||||||||
Commercial and industrial | 5 | $ | 574 | ||||||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Commercial | 1 | 190 | |||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the year ended of December 31, 2012 | |||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding | ||||||||||||||||||||||||||||
Rate | Recorded | ||||||||||||||||||||||||||||
Troubled Debt Restructurings | Forgiveness | Other | Total | Investment | |||||||||||||||||||||||||
Commercial and industrial | 1 | 12 | 13 | $ | 489 | ||||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | 2 | 7 | 9 | 921 | |||||||||||||||||||||||||
Commercial | - | 1 | 1 | 156 | |||||||||||||||||||||||||
Consumer Installment | - | 2 | 2 | 11 | |||||||||||||||||||||||||
Troubled Debt Restructurings subsequently defaulted | Number of | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | ||||||||||||||||||||||||||||
Commercial and industrial | 6 | $ | 256 | ||||||||||||||||||||||||||
Real estate- construction: | 1 | 3,622 | |||||||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | 2 | 89 | |||||||||||||||||||||||||||
Consumer Installment | 1 | 5 | |||||||||||||||||||||||||||
Modifications | |||||||||||||||||||||||||||||
For the year ended of December 31, 2011 | |||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding | ||||||||||||||||||||||||||||
Rate | Recorded | ||||||||||||||||||||||||||||
Troubled Debt Restructurings | Forgiveness | Other | Total | Investment | |||||||||||||||||||||||||
Commercial and industrial | - | 8 | 8 | $ | 586 | ||||||||||||||||||||||||
Real estate- construction: | - | 2 | 2 | 3,883 | |||||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | - | 10 | 10 | 1,639 | |||||||||||||||||||||||||
Commercial | - | 2 | 2 | 1,625 | |||||||||||||||||||||||||
Consumer Installment | - | 2 | 2 | 24 | |||||||||||||||||||||||||
Troubled Debt Restructurings subsequently defaulted | Number of | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | ||||||||||||||||||||||||||||
Commercial and industrial | 3 | $ | 134 | ||||||||||||||||||||||||||
Consumer Installment | 2 | 28 | |||||||||||||||||||||||||||
The Company does not forgive principal upon troubled debt restructuring. Therefore, the post-modification outstanding recorded investment equals pre-modification outstanding recorded investment for each timeframe and category. | |||||||||||||||||||||||||||||
Management uses a nine-point internal risk-rating system to monitor the credit quality of the overall loan portfolio. The first five categories are considered not criticized and are aggregated as Pass-rated. The criticized rating categories utilized by management generally follow bank regulatory definitions. The Special Mention category includes assets that are currently protected but are potentially weak, resulting in an undue and unwarranted credit risk, but not to the point of justifying a Substandard classification. Loans in the Substandard category have well-defined weaknesses that jeopardize the liquidation of the debt and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. All loans greater than 90 days past due are considered Substandard. Any portion of a loan that has been charged off is placed in the Loss category. | |||||||||||||||||||||||||||||
To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Company has a structured loan-rating process with several layers of internal and external oversight. Generally, consumer and residential mortgage loans are included in the Pass categories unless a specific action, such as bankruptcy, repossession, or death, occurs to raise awareness of a possible credit event. The Company’s Commercial Loan Officers are responsible for the timely and accurate risk rating of the loans in their portfolios at origination and on an ongoing basis. The Credit Department performs an annual review of all commercial relationships $200,000 or greater. Confirmation of the appropriate risk grade is included in the review on an ongoing basis. The Company has an experienced Loan Review Department that continually reviews and assesses loans within the portfolio. The Company engages an external consultant to conduct loan reviews on a semiannual basis. Generally, the external consultant reviews commercial relationships greater than $250,000 and/or criticized relationships greater than $125,000. Detailed reviews, including plans for resolution, are performed on loans classified as Substandard on a quarterly basis. Loans in the Special Mention and Substandard categories that are collectively evaluated for impairment are given separate consideration in the determination of the allowance. | |||||||||||||||||||||||||||||
The following tables present the classes of the loan portfolio summarized by the aggregate Pass rating and the criticized categories of Special Mention, Substandard, and Doubtful within the internal risk rating system as of December 31, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||||||
Special | Total | ||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loans | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 52,078 | $ | 772 | $ | 1,605 | $ | 43 | $ | 54,498 | |||||||||||||||||||
Real estate - construction | 24,052 | 907 | 642 | - | 25,601 | ||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 198,479 | 774 | 11,057 | - | 210,310 | ||||||||||||||||||||||||
Commercial | 132,931 | 2,232 | 6,008 | - | 141,171 | ||||||||||||||||||||||||
Consumer installment | 4,129 | - | 16 | - | 4,145 | ||||||||||||||||||||||||
Total | $ | 411,669 | $ | 4,685 | $ | 19,328 | $ | 43 | $ | 435,725 | |||||||||||||||||||
Special | Total | ||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loans | |||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 59,390 | $ | 678 | $ | 2,061 | $ | 59 | $ | 62,188 | |||||||||||||||||||
Real estate - construction | 17,601 | - | 4,921 | - | 22,522 | ||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 190,967 | 758 | 12,147 | - | 203,872 | ||||||||||||||||||||||||
Commercial | 106,509 | 1,928 | 7,297 | - | 115,734 | ||||||||||||||||||||||||
Consumer installment | 4,084 | - | 33 | - | 4,117 | ||||||||||||||||||||||||
Total | $ | 378,551 | $ | 3,364 | $ | 26,459 | $ | 59 | $ | 408,433 | |||||||||||||||||||
Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of December 31, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||||||
Still Accruing | |||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days+ | Total | Non- | Total | ||||||||||||||||||||||||
Current | Past Due | Past Due | Past Due | Past Due | Accrual | Loans | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 53,366 | $ | 521 | $ | 359 | $ | 38 | $ | 918 | $ | 214 | $ | 54,498 | |||||||||||||||
Real estate - construction | 24,945 | 17 | 639 | - | 656 | - | 25,601 | ||||||||||||||||||||||
Real estate - mortgage: | - | ||||||||||||||||||||||||||||
Residential | 200,041 | 2,079 | 481 | 143 | 2,703 | 7,566 | 210,310 | ||||||||||||||||||||||
Commercial | 139,730 | 598 | 100 | - | 698 | 743 | 141,171 | ||||||||||||||||||||||
Consumer installment | 4,083 | 38 | 16 | - | 54 | 8 | 4,145 | ||||||||||||||||||||||
Total | $ | 422,165 | $ | 3,253 | $ | 1,595 | $ | 181 | $ | 5,029 | $ | 8,531 | $ | 435,725 | |||||||||||||||
Still Accruing | |||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days+ | Total | Non- | Total | ||||||||||||||||||||||||
Current | Past Due | Past Due | Past Due | Past Due | Accrual | Loans | |||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 60,428 | $ | 441 | $ | 63 | $ | 348 | $ | 852 | $ | 908 | $ | 62,188 | |||||||||||||||
Real estate - construction | 22,158 | - | - | - | - | 364 | 22,522 | ||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 191,349 | 2,614 | 1,401 | 90 | 4,105 | 8,418 | 203,872 | ||||||||||||||||||||||
Commercial | 113,023 | 509 | 97 | - | 606 | 2,105 | 115,734 | ||||||||||||||||||||||
Consumer installment | 4,074 | 25 | - | - | 25 | 18 | 4,117 | ||||||||||||||||||||||
Total | $ | 391,032 | $ | 3,589 | $ | 1,561 | $ | 438 | $ | 5,588 | $ | 11,813 | $ | 408,433 | |||||||||||||||
Interest income that would have been recorded had these loans not been placed on nonaccrual status was $439,000 in 2013; $756,000 in 2012; and $859,000 in 2011. | |||||||||||||||||||||||||||||
An allowance for loan and lease loss (“ALLL”) is maintained to absorb losses from the loan portfolio. The ALLL is based on management’s continuing evaluation of the risk characteristics and credit quality of the loan portfolio, assessment of current economic conditions, diversification and size of the portfolio, adequacy of collateral, past and anticipated loss experience, and the amount of nonperforming loans. | |||||||||||||||||||||||||||||
The Company’s methodology for determining the ALLL is based on the requirements of ASC Section 310-10-35 for loans individually evaluated for impairment (discussed above) and ASC Subtopic 450-20 for loans collectively evaluated for impairment, as well as the Interagency Policy Statement on the Allowance for Loan and Lease Losses and other bank regulatory guidance. The total of the two components represents the Company’s ALLL. | |||||||||||||||||||||||||||||
Loans that are collectively evaluated for impairment are analyzed, with general allowances being made as appropriate. For general allowances, historical loss trends are used in the estimation of losses in the current portfolio. These historical loss amounts are modified by other qualitative factors. | |||||||||||||||||||||||||||||
The classes described above, which are based on the purpose code assigned to each loan, provide the starting point for the ALLL analysis. Management tracks the historical net charge-off activity at the purpose code level. A historical charge-off factor is calculated utilizing the last four consecutive quarters. | |||||||||||||||||||||||||||||
Management has identified a number of additional qualitative factors which it uses to supplement the historical charge-off factor, because these factors are likely to cause estimated credit losses associated with the existing loan pools to differ from historical loss experience. The additional factors that are evaluated quarterly and updated using information obtained from internal, regulatory, and governmental sources are: national and local economic trends and conditions; levels of and trends in delinquency rates and nonaccrual loans; trends in volumes and terms of loans; effects of changes in lending policies; experience, ability, and depth of lending staff; value of underlying collateral; and concentrations of credit from a loan type, industry, and/or geographic standpoint. | |||||||||||||||||||||||||||||
Management reviews the loan portfolio on a quarterly basis using a defined, consistently applied process in order to make appropriate and timely adjustments to the ALLL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALLL. | |||||||||||||||||||||||||||||
The following tables summarize the primary segments of the loan portfolio (in thousands): | |||||||||||||||||||||||||||||
Commercial and industrial | Real estate- construction | Real estate- residential mortgage | Real estate- commercial mortgage | Consumer installment | Total | ||||||||||||||||||||||||
ALLL balance at December 31, 2012 | $ | 1,732 | $ | 1,123 | $ | 2,872 | $ | 1,991 | $ | 61 | $ | 7,779 | |||||||||||||||||
Charge-offs | (419 | ) | (191 | ) | (675 | ) | - | (45 | ) | (1,330 | ) | ||||||||||||||||||
Recoveries | 191 | 33 | 107 | 46 | 24 | 401 | |||||||||||||||||||||||
Provision | (890 | ) | (389 | ) | 1,360 | 133 | (18 | ) | 196 | ||||||||||||||||||||
ALLL balance at December 31, 2013 | $ | 614 | $ | 576 | $ | 3,664 | $ | 2,170 | $ | 22 | $ | 7,046 | |||||||||||||||||
Commercial and industrial | Real estate- construction | Real estate- residential mortgage | Real estate- commercial mortgage | Consumer installment | Total | ||||||||||||||||||||||||
ALLL balance at December 31, 2011 | $ | 1,296 | $ | 438 | $ | 3,731 | $ | 1,306 | $ | 48 | $ | 6,819 | |||||||||||||||||
Charge-offs | (230 | ) | (135 | ) | (785 | ) | (123 | ) | (64 | ) | (1,337 | ) | |||||||||||||||||
Recoveries | 71 | - | 31 | - | 27 | 129 | |||||||||||||||||||||||
Provision | 595 | 820 | (105 | ) | 808 | 50 | 2,168 | ||||||||||||||||||||||
ALLL balance at December 31, 2012 | $ | 1,732 | $ | 1,123 | $ | 2,872 | $ | 1,991 | $ | 61 | $ | 7,779 | |||||||||||||||||
Commercial and industrial | Real estate- construction | Real estate- residential mortgage | Real estate- commercial mortgage | Consumer installment | Total | ||||||||||||||||||||||||
ALLL balance at December 31, 2010 | $ | 1,234 | $ | 356 | $ | 3,392 | $ | 1,143 | $ | 96 | $ | 6,221 | |||||||||||||||||
Charge-offs | (568 | ) | (6 | ) | (1,862 | ) | (265 | ) | (11 | ) | (2,712 | ) | |||||||||||||||||
Recoveries | 76 | - | 122 | - | 27 | 225 | |||||||||||||||||||||||
Provision | 554 | 88 | 2,079 | 428 | (64 | ) | 3,085 | ||||||||||||||||||||||
ALLL balance at December 31, 2011 | $ | 1,296 | $ | 438 | $ | 3,731 | $ | 1,306 | $ | 48 | $ | 6,819 | |||||||||||||||||
The C&I ALLL balance declined from $1.7 million at December 31, 2012 to $614,000 at December 31, 2013. Loan grade reclassifications resulted in a shift of $660,000 of specific reserve from this category. Residential mortgage real estate ALLL increased from $2.9 million to $3.7 million during the year ended December 31, 2013. This was largely the result of increasing the 1-4 family owner-occupied historical loss ratio. The real estate construction ALLL balance declined from $1.1 million at December 31, 2012 to $576,000 at December 31, 2013. The credit provision in this category was related to a fourth quarter shift of one loan from the classified list. At the time of removal, this loan had a balance of $3.1 million and the associated reserve was $700,000. A provision in any loan portfolio is not necessarily related to current charge-offs, but is a result of the evaluation of the loans in that category. |
Note_5_Premises_and_Equipment
Note 5 - Premises and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
5 | PREMISES AND EQUIPMENT | ||||||||
Major classifications of premises and equipment at December 31 are summarized as follows: | |||||||||
(Dollar amounts in thousands) | 2013 | 2012 | |||||||
Land and land improvements | $ | 1,943 | $ | 1,885 | |||||
Building and leasehold improvements | 10,832 | 9,427 | |||||||
Furniture, fixtures, and equipment | 4,036 | 3,665 | |||||||
16,811 | 14,977 | ||||||||
Less accumulated depreciation and amortization | 6,983 | 6,307 | |||||||
Total | $ | 9,828 | $ | 8,670 | |||||
Depreciation and amortization charged to operations was $676,000 in 2013, $591,000 in 2012, and $499,000 in 2011. |
Note_6_Goodwill_and_Intangible
Note 6 - Goodwill and Intangible Assets | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | ||||
6 | GOODWILL AND INTANGIBLE ASSETS | ||||
Goodwill totaled $4,559,000 at the years ended December 31, 2013, and 2012. Core deposit intangible gross carrying amount was $156,000 and $195,000 for the years ended December 31, 2013, and 2012. Core deposit accumulated amortization was $240,000 and $200,000 for the years ended December 31, 2013, and 2012. | |||||
Core deposit intangible assets are amortized on a straight-line basis over their estimated lives of ten years. Amortization expense totaled $39,000, $40,000, and $40,000 in 2013, 2012, and 2011, respectively. The estimated aggregate future amortization expense for core deposit intangible assets as of December 31, 2013, is as follows (in thousands): | |||||
2014 | $ | 40,000 | |||
2015 | 40,000 | ||||
2016 | 40,000 | ||||
2017 | 36,000 | ||||
Total | $ | 156,000 | |||
Note_7_Other_Assets
Note 7 - Other Assets | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||
Other Assets Disclosure [Text Block] | ' | ||||||||
7 | OTHER ASSETS | ||||||||
The components of other assets at year ended December 31 are as follows: | |||||||||
(Dollar amounts in thousands) | 2013 | 2012 | |||||||
FHLB stock | $ | 1,887 | $ | 1,887 | |||||
Accrued interest on investment securities | 1,029 | 1,031 | |||||||
Accrued interest on loans | 1,106 | 1,132 | |||||||
Deferred tax asset, net | 3,868 | 181 | |||||||
Prepaid federal deposit insurance | - | 513 | |||||||
Other real estate owned | 2,698 | 1,846 | |||||||
Other | 1,128 | 1,459 | |||||||
Total | $ | 11,716 | $ | 8,051 | |||||
Note_8_Deposits
Note 8 - Deposits | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Deposit Liabilities Disclosures [Text Block] | ' | ||||||||
8 | DEPOSITS | ||||||||
Time deposits at December 31, 2013, mature $69.5 million, $59.9 million, $20.3 million, $10.3 million, and $14.4 million during 2014, 2015, 2016, 2017, and 2018 respectively. | |||||||||
Maturities on time deposits of $100,000 or more at December 31, 2013, are as follows: | |||||||||
(Dollar amounts in thousands) | Amount | Percent of Total | |||||||
Within three months | $ | 6,427 | 8.23 | % | |||||
Beyond three but within six months | 8,544 | 10.94 | |||||||
Beyond six but within twelve months | 16,446 | 21.06 | |||||||
Beyond one year | 46,668 | 59.77 | |||||||
Total | $ | 78,085 | 100 | % | |||||
The aggregate of all time deposit accounts of $100,000 or more amounted to $79.9 million at December 31, 2012. |
Note_9_ShortTerm_Borrowings
Note 9 - Short-Term Borrowings | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Short-term Debt [Text Block] | ' | ||||||||||||
9 | SHORT-TERM BORROWINGS | ||||||||||||
The year ended December 31 outstanding balances and related information of short-term borrowings, which includes securities sold under agreements to repurchase and short-term borrowings from other banks, are summarized as follows: | |||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||
Balance at year-end | $ | 10,809 | $ | 6,538 | $ | 7,392 | |||||||
Average balance outstanding | 8,806 | 7,005 | 7,276 | ||||||||||
Maximum month-end balance | 17,351 | 7,458 | 7,552 | ||||||||||
Weighted-average rate at year-end | 1.44 | % | 2.97 | % | 3.14 | % | |||||||
Weighted-average rate during the year | 3.15 | % | 3.73 | % | 3.23 | % | |||||||
Average balances outstanding during the year represent daily average balances, and average interest rates represent interest expense divided by the related average balance. | |||||||||||||
The Company maintains a $4.0 million line of credit at an adjustable rate, currently 3.67%, and a $3.0 million line of credit at an adjustable rate, currently at 4.00%. At December 31, 2013, 2012, and 2011, outstanding borrowings under these lines were $3.9 million, $4.9 million, and $5.7 million, respectively. |
Note_10_Other_Borrowings
Note 10 - Other Borrowings | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Other Borrowings [Abstract] | ' | ||||||||||||||||||||||||||||
Other Borrowings [Text Block] | ' | ||||||||||||||||||||||||||||
10 | OTHER BORROWINGS | ||||||||||||||||||||||||||||
Other borrowings consist of advances from the FHLB and subordinated debt as follows: | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Maturity range | Weighted- | Stated interest | ||||||||||||||||||||||||||
average | rate range | ||||||||||||||||||||||||||||
Description | from | to | interest rate | from | to | 2013 | 2012 | ||||||||||||||||||||||
Fixed rate amortizing | 3/1/14 | 10/1/28 | 4.02 | % | 2.78 | % | 4.48 | % | $ | 3,361 | $ | 4,722 | |||||||||||||||||
Junior subordinated debt | 12/21/37 | 12/21/37 | 1.97 | 1.91 | 1.98 | 8,248 | 8,248 | ||||||||||||||||||||||
Total | $ | 11,609 | $ | 12,970 | |||||||||||||||||||||||||
The scheduled maturities of other borrowings are as follows: | |||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Weighted- | |||||||||||||||||||||||||||||
Year Ending December 31, | Amount | Average Rate | |||||||||||||||||||||||||||
2014 | $ | 984 | 3.99 | % | |||||||||||||||||||||||||
2015 | 685 | 4.01 | % | ||||||||||||||||||||||||||
2016 | 502 | 4 | % | ||||||||||||||||||||||||||
2017 | 373 | 4 | % | ||||||||||||||||||||||||||
2018 | 252 | 4.02 | % | ||||||||||||||||||||||||||
Beyond 2018 | 8,813 | 2.1 | % | ||||||||||||||||||||||||||
Total | $ | 11,609 | 2.52 | % | |||||||||||||||||||||||||
The Company entered into a ten-year “Convertible Select” fixed commitment advance arrangement with the FHLB. Rates may be reset at the FHLB’s discretion on a quarterly basis based on the three-month LIBOR rate. At each rate change, the Company may exercise a put option and satisfy the obligation without penalty. | |||||||||||||||||||||||||||||
Fixed-rate amortizing advances from the FHLB require monthly principal and interest payments and an annual 20 percent paydown of outstanding principal. Monthly principal and interest payments are adjusted after each 20 percent paydown. Under the terms of a blanket agreement, FHLB borrowings are secured by certain qualifying assets of the Company which consist principally of first mortgage loans or mortgage-backed securities. Under this credit arrangement, the Company has a remaining borrowing capacity of approximately $85.3 million at December 31, 2013. | |||||||||||||||||||||||||||||
The Company formed a special purpose entity (“Entity”) to issue $8,000,000 of floating rate, obligated mandatorily redeemable securities, and $248,000 in common securities as part of a pooled offering. The rate adjusts quarterly, equal to LIBOR plus 1.67%. The Entity may redeem them, in whole or in part, at face value. The Company borrowed the proceeds of the issuance from the Entity in December 2006 in the form of an $8,248,000 note payable, which is included in the other borrowings on the Company’s Consolidated Balance Sheet. |
Note_11_Other_Liabilities
Note 11 - Other Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | ' | ||||||||
Other Liabilities Disclosure [Text Block] | ' | ||||||||
11 | OTHER LIABILITIES | ||||||||
The components of other liabilities are as follows (Dollar amounts in thousands): | |||||||||
2013 | 2012 | ||||||||
Accrued interest payable | $ | 364 | $ | 492 | |||||
Other | 1,999 | 1,516 | |||||||
Total | $ | 2,363 | $ | 2,008 | |||||
Note_12_Income_Taxes
Note 12 - Income Taxes | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||||||||||||||||
12 | INCOME TAXES | ||||||||||||||||||||||||
The provision for federal income taxes consists of: | |||||||||||||||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Current payable | $ | 1,556 | $ | 1,660 | $ | 693 | |||||||||||||||||||
Deferred | 423 | 2 | (97 | ) | |||||||||||||||||||||
Total provision | $ | 1,979 | $ | 1,662 | $ | 596 | |||||||||||||||||||
The tax effects of deductible and taxable temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: | |||||||||||||||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Allowance for loan and lease loss | $ | 2,396 | $ | 2,645 | |||||||||||||||||||||
Net unrealized loss on securities | 1,152 | - | |||||||||||||||||||||||
Supplemental retirement plan | 247 | 218 | |||||||||||||||||||||||
Investment security basis adjustment | 66 | 66 | |||||||||||||||||||||||
Nonaccrual interest income | 472 | 508 | |||||||||||||||||||||||
Deferred origination fees, net | 171 | 189 | |||||||||||||||||||||||
OREO adjustments | 107 | 116 | |||||||||||||||||||||||
Accrued compensation | 197 | - | |||||||||||||||||||||||
Net operating losses | - | 86 | |||||||||||||||||||||||
Other | 19 | 47 | |||||||||||||||||||||||
Gross deferred tax assets | 4,827 | 3,875 | |||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||
Premises and equipment | 503 | 434 | |||||||||||||||||||||||
Net unrealized gain on securities | - | 2,777 | |||||||||||||||||||||||
FHLB stock dividends | 225 | 225 | |||||||||||||||||||||||
Intangibles | 304 | 256 | |||||||||||||||||||||||
Other | 107 | 2 | |||||||||||||||||||||||
Gross deferred tax liabilities | 1,139 | 3,694 | |||||||||||||||||||||||
Net deferred tax assets | $ | 3,688 | $ | 181 | |||||||||||||||||||||
No valuation allowance was established at December 31, 2013 and 2012, in view of the Company’s ability to carry-back to taxes paid in previous years and certain tax strategies, coupled with the anticipated future taxable income as evidenced by the Company's earnings potential. | |||||||||||||||||||||||||
The reconciliation between the federal statutory rate and the Company’s effective consolidated income tax rate is as follows: | |||||||||||||||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
% of | % of | % of | |||||||||||||||||||||||
Pretax | Pretax | Pretax | |||||||||||||||||||||||
Amount | Income | Amount | Income | Amount | Income | ||||||||||||||||||||
Provision at statutory rate | $ | 3,062 | 34 | % | $ | 2,700 | 34 | % | $ | 1,606 | 34 | % | |||||||||||||
Tax-free income | (1,138 | ) | (12.6 | ) | (1,095 | ) | (13.8 | ) | (1,071 | ) | (22.7 | ) | |||||||||||||
Nondeductible interest expense | 45 | 0.5 | 48 | 0.6 | 61 | 1.3 | |||||||||||||||||||
Other | 10 | 0.1 | 9 | 0.1 | - | - | |||||||||||||||||||
Actual tax expense and effective rate | $ | 1,979 | 22 | % | $ | 1,662 | 20.9 | % | $ | 596 | 12.60% | ||||||||||||||
Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. | |||||||||||||||||||||||||
At December 31, 2013 and December 31, 2012, the Company had no unrecognized tax benefits. The Company does not expect the total amount of unrecognized tax benefits to significantly increase within the next 12 months. The Company recognizes interest and penalties on unrecognized tax benefits as a component of income tax expense. | |||||||||||||||||||||||||
The Company and the Bank are subject to U.S. federal income tax as well as an income tax in the state of Ohio, and the Bank are subject to a capital‐based franchise tax in the state of Ohio. The Company and the Bank are no longer subject to examination by taxing authorities for years before December 31, 2010. |
Note_13_Employee_Benefits
Note 13 - Employee Benefits | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||||||
Compensation and Employee Benefit Plans [Text Block] | ' | ||||||||||||||||||||||||
13 | EMPLOYEE BENEFITS | ||||||||||||||||||||||||
Retirement Plan | |||||||||||||||||||||||||
The Bank maintains section 401(k) employee savings and investment plans for all full-time employees and officers of the Bank with more than one year of service. The Bank's contributions to the plans are based on 50 percent matching of voluntary contributions up to 6 percent of compensation. An eligible employee can contribute up to 100 percent of salary. Employee contributions are vested at all times, and MBC contributions are fully vested after six years beginning at the second year in 20 percent increments. EB contributions are vested at 25 percent for less than a year of employment, 50 percent after one year, 75 percent after two years, and fully vested after three years. Contributions for 2013, 2012, and 2011 to these plans amounted to $155,000, $125,000, and $104,000, respectively. | |||||||||||||||||||||||||
Supplemental Retirement Plan | |||||||||||||||||||||||||
MBC maintains a Directors’ Retirement Plan to provide postretirement payments over a ten-year period to members of the Board of Directors who have completed five or more years of service. The plan requires payment of 25 percent of the final average annual board fees paid to a director in the three years preceding the director’s retirement. | |||||||||||||||||||||||||
The following table illustrates the components of the projected payments for the Directors’ Retirement Plan for the years ended: | |||||||||||||||||||||||||
Projected | |||||||||||||||||||||||||
Payments | |||||||||||||||||||||||||
2014 | $ | 34,000 | |||||||||||||||||||||||
2015 | 34,000 | ||||||||||||||||||||||||
2016 | 29,000 | ||||||||||||||||||||||||
2017 | 23,000 | ||||||||||||||||||||||||
2018 | 18,000 | ||||||||||||||||||||||||
Thereafter | 23,000 | ||||||||||||||||||||||||
Total | $ | 161,000 | |||||||||||||||||||||||
The retirement plan is available solely for nonemployee directors of The Middlefield Banking Company, but the Bank has not entered into any additional retirement arrangements for nonemployee directors since 2001. All director participants have retired. | |||||||||||||||||||||||||
Executive Deferred Compensation Plan | |||||||||||||||||||||||||
The Company maintains an Executive Deferred Compensation Plan (the “Plan”) to provide post-retirement payments to members of senior management. The Plan agreements are noncontributory, defined contribution arrangements that provide supplemental retirement income benefits to five officers, with contributions made solely by the Banks. During 2013, 2012, and 2011, the Company contributed $120,000, $139,000, and $91,000, respectively, to the Plan. | |||||||||||||||||||||||||
Stock Option and Restricted Stock Plan | |||||||||||||||||||||||||
The Company maintains a stock option and restricted stock plan (“the Plan”) for granting incentive stock options, nonqualified stock options, and restricted stock to key officers and employees and nonemployee directors of the Company. A total of 160,000 shares of authorized and unissued or issued common stock are reserved for issuance under the Plan, which expires ten years from the date of stockholder ratification. The per share exercise price of an option granted will not be less than the fair value of a share of common stock on the date the option is granted. | |||||||||||||||||||||||||
The following table presents share data related to the outstanding options: | |||||||||||||||||||||||||
Weighted- | Weighted- | ||||||||||||||||||||||||
average | average | ||||||||||||||||||||||||
Exercise | Exercise | ||||||||||||||||||||||||
2013 | Price | 2012 | Price | ||||||||||||||||||||||
Outstanding, January 1 | $ | 79,693 | $ | 27.25 | $ | 88,774 | $ | 26.81 | |||||||||||||||||
Granted | - | - | - | - | |||||||||||||||||||||
Exercised | (21,112 | ) | $ | 24.11 | - | - | |||||||||||||||||||
Forfeited | - | - | (9,081 | ) | 22.94 | ||||||||||||||||||||
Outstanding, December 31 | $ | 58,581 | $ | 28.38 | $ | 79,693 | $ | 27.25 | |||||||||||||||||
Exercisable, December 31 | $ | 58,581 | $ | 28.38 | $ | 79,693 | $ | 27.25 | |||||||||||||||||
The following table summarizes the characteristics of stock options at December 31, 2013: | |||||||||||||||||||||||||
Outstanding | Exercisable | ||||||||||||||||||||||||
Contractual | Average | Average | |||||||||||||||||||||||
Exercise | Average | Exercise | Exercise | ||||||||||||||||||||||
Grant Date | Price | Shares | Life | Price | Shares | Price | |||||||||||||||||||
12-May-04 | 27.35 | 907 | 0.36 | 27.35 | 907 | 27.35 | |||||||||||||||||||
13-Dec-04 | 30.45 | 11,223 | 0.95 | 30.45 | 11,223 | 30.45 | |||||||||||||||||||
14-Dec-05 | 36.73 | 7,163 | 1.95 | 36.73 | 7,163 | 36.73 | |||||||||||||||||||
10-Dec-06 | 40.24 | 3,150 | 2.94 | 40.24 | 3,150 | 40.24 | |||||||||||||||||||
19-Apr-07 | 37.33 | 3,639 | 3.29 | 37.33 | 3,639 | 37.73 | |||||||||||||||||||
16-May-07 | 37.48 | 1,337 | 3.37 | 37.48 | 1,337 | 37.48 | |||||||||||||||||||
10-Dec-07 | 37 | 2,450 | 3.94 | 37 | 2,450 | 37 | |||||||||||||||||||
2-Jan-08 | 36.25 | 1,337 | 4 | 36.25 | 1,337 | 36.25 | |||||||||||||||||||
10-Nov-08 | 23 | 18,500 | 4.86 | 23 | 18,500 | 23 | |||||||||||||||||||
9-May-11 | 17.55 | 8,875 | 7.35 | 17.55 | 8,875 | 17.55 | |||||||||||||||||||
58,581 | 58,581 | ||||||||||||||||||||||||
For the years ended December 31, 2013, 2012, and 2011, the Company granted 0, 1,722, and 2,400 shares, respectively, of common stock under the Omnibus Equity Plan. The Company recognizes compensation expense in the amount of fair value of the common stock at the grant date and as an addition to stockholders’ equity. |
Note_14_Commitments
Note 14 - Commitments | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||||||
14 | COMMITMENTS | ||||||||
In the normal course of business, there are various outstanding commitments and certain contingent liabilities which are not reflected in the accompanying consolidated financial statements. These commitments and contingent liabilities represent financial instruments with off-balance sheet risk. The contract or notional amounts of those instruments reflect the extent of involvement in particular types of financial instruments which were composed of the following: | |||||||||
(Dollar amounts in thousands) | 2013 | 2012 | |||||||
Commitments to extend credit | $ | 120,861 | $ | 91,854 | |||||
Standby letters of credit | 4,809 | 281 | |||||||
Total | $ | 125,670 | $ | 92,135 | |||||
These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Balance Sheet. The Company’s exposure to credit loss, in the event of nonperformance by the other parties to the financial instruments, is represented by the contractual amounts as disclosed. The Company minimizes its exposure to credit loss under these commitments by subjecting them to credit approval and review procedures and collateral requirements as deemed necessary. Commitments generally have fixed expiration dates within one year of their origination. | |||||||||
Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Performance letters of credit represent conditional commitments issued by the Company to guarantee the performance of a customer to a third party. These instruments are issued primarily to support bid or performance-related contracts. The coverage period for these instruments is typically a one-year period with an annual renewal option subject to prior approval by management. Fees earned from the issuance of these letters are recognized over the coverage period. For secured letters of credit, the collateral is typically bank deposit instruments or customer business assets. | |||||||||
Leasing Arrangements | |||||||||
The Company leases certain of its banking facilities under operating leases which contain certain renewal options. As of December 31, 2013, approximate future minimum rental payments, including the renewal options under these leases, are as follows (in thousands): | |||||||||
2014 | 221 | ||||||||
2015 | 226 | ||||||||
2016 | 230 | ||||||||
2017 | 238 | ||||||||
2018 | 240 | ||||||||
Thereafter | 203 | ||||||||
$ | 1,358 | ||||||||
The above amounts represent minimum rentals not adjusted for possible future increases due to escalation provisions and assume that all renewal option periods will be exercised by the Company. Rent expense approximated $301,000, $269,000, and $248,000 for the years ended December 31, 2013, 2012, and 2011, respectively. |
Note_15_Regulatory_Restriction
Note 15 - Regulatory Restrictions | 12 Months Ended | |
Dec. 31, 2013 | ||
Banking and Thrift [Abstract] | ' | |
Banking and Thrift Disclosure [Text Block] | ' | |
15 | REGULATORY RESTRICTIONS | |
The Company is subject to the regulatory requirements of the Federal Reserve System as a multi-bank holding company. The affiliate banks are subject to regulations of the Federal Deposit Insurance Corporation (“FDIC”) and the State of Ohio, Division of Financial Institutions. | ||
In February of 2011 Emerald Bank agreed with the FDIC and the Ohio Division of Financial Institutions that Emerald Bank will take specified actions to correct weaknesses in the bank’s condition and operations. The actions that Emerald Bank agreed to take include reducing the bank’s concentration of credit in non-owner occupied 1 - 4 family residential mortgage loans, reducing delinquent and classified loans, enhancing credit administration for non-owner occupied residential real estate, developing plans for the reduction of borrower indebtedness on classified and delinquent credits, implementing an earnings improvement plan, maintaining leverage capital of at least 9%, revising the bank’s methodology for calculating and determining the adequacy of the allowance for loan and lease loss, and providing to the FDIC and the ODFI notice of proposed dividend payments at least 30 days in advance. | ||
We have conducted an evaluation and reorganization of lending and credit administration personnel, retained collection and workout personnel, and sold $5.8 million of nonperforming assets EMORECO, Inc., Middlefield Banc Corp.’s nonbank-asset resolution subsidiary established in the fourth quarter of 2009. Middlefield Banc Corp. provided capital of $500,000 to Emerald Bank in 2010 and $1.5 million in 2011 so that Emerald Bank would achieve the elevated 9% leverage capital level. At December 31, 2013 Emerald Bank’s leverage ratio was 10.92%. | ||
In addition to Emerald Bank maintaining leverage capital of at least 9%, Middlefield Banc Corp. committed to the Federal Reserve that Middlefield Banc Corp. will maintain tier 1 leverage capital of at least 7.25% and total risk-based capital of at least 12%, both at the level of the holding company and at the level of The Middlefield Banking Company. | ||
Cash Requirements | ||
The Cleveland district Federal Reserve Bank requires the Company to maintain certain average reserve balances. As of December 31, 2013 and 2012, the Company had required reserves of $7.4 million and $7.1 million comprising vault cash and a depository amount held with the Federal Reserve Bank. | ||
Loans | ||
Federal law prevents the Company from borrowing from the Banks unless the loans are secured by specific obligations. Further, such secured loans are limited in amount of 10 percent of the Banks’ common stock and capital surplus. | ||
Dividends | ||
MBC and EB are subject to dividend restrictions that generally limit the amount of dividends that can be paid by an Ohio state-chartered bank. Under the Ohio Banking Code, cash dividends may not exceed net profits as defined for that year combined with retained net profits for the two preceding years less any required transfers to surplus. Under this formula the amount available for payment of dividends for 2014 approximates $10.4 million plus 2014 profits retained up to the date of the dividend declaration. | ||
Potential Restrictions | ||
On or about January 14, 2013 an investor to whom we sold a total of 196,635 shares in April of 2012, constituting 9.9% of our stock, obtained from the Ohio Division of Financial Institutions and the Federal Reserve Bank of Cleveland regulatory clearance to acquire up to 24.99% of our stock. The August 15, 2011 Stock Purchase Agreement, as amended, under which we sold shares to the investor provided for sale of up to 24.99% of our stock, subject to the investor obtaining regulatory clearance and subject to other conditions. Although we disclosed in a Form 8-K Current Report filed with the SEC on January 18, 2013 that sale of additional shares to the investor under the terms of the Stock Purchase Agreement will not occur, if the investor nevertheless acquires shares and increases his ownership to 10% or more of our common stock, whether acquiring the shares on the open market or from us, we will become subject to additional restrictions under the terms of the regulatory clearance issued to the investor by the Ohio Division of Financial Institutions. Specifically, for three years after the investor becomes an owner of 10% or more of our stock, we would have to obtain advance approval of the ODFI in order for The Middlefield Banking Company to pay a dividend to Middlefield Banc Corp., and for 12 months we would have to obtain advance written approval of the ODFI for any changes in the composition of Middlefield Banc Corp.’s board or executive management. |
Note_16_Regulatory_Capital
Note 16 - Regulatory Capital | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | ' | ||||||||||||||||||||||||
16 | REGULATORY CAPITAL | ||||||||||||||||||||||||
Federal regulations require the Company and the Banks to maintain minimum amounts of capital. Specifically, each is required to maintain certain minimum dollar amounts and ratios of Total and Tier I capital to risk-weighted assets and of Tier I capital to average total assets. | |||||||||||||||||||||||||
In addition to the capital requirements, the Federal Deposit Insurance Corporation Improvement Act (“FDICIA”) established five capital categories ranging from “well capitalized” to “critically undercapitalized.” Should any institution fail to meet the requirements to be considered “adequately capitalized,” it would become subject to a series of increasingly restrictive regulatory actions. | |||||||||||||||||||||||||
As of December 31, 2013 and 2012, the FDIC categorized the Banks as well capitalized under the regulatory framework for prompt corrective action. To be classified as a well capitalized financial institution, Total risk-based, Tier 1 risk-based, and Tier 1 Leverage capital ratios must be at least 10 percent, 6 percent, and 5 percent, respectively. | |||||||||||||||||||||||||
The Company’s and its subsidiaries’ actual capital ratios are presented in the following table that shows that all regulatory capital requirements were met as of December 31, 2013. | |||||||||||||||||||||||||
Middlefield Banc Corp. | The Middlefield Banking Co. | Emerald Bank | |||||||||||||||||||||||
(Dollar amounts in thousands) | 31-Dec-13 | 31-Dec-13 | 31-Dec-13 | ||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Total Capital (to Risk-weighted Assets) | |||||||||||||||||||||||||
Actual | $ | 64,220 | 14.06 | % | $ | 53,194 | 13.77 | % | $ | 9,482 | 13.76 | % | |||||||||||||
For Capital Adequacy Purposes | 36,541 | 8 | 30,906 | 8 | 5,514 | 8 | |||||||||||||||||||
To Be Well Capitalized | 45,676 | 10 | 38,632 | 10 | 6,893 | 10 | |||||||||||||||||||
Tier I Capital (to Risk-weighted Assets) | |||||||||||||||||||||||||
Actual | $ | 58,494 | 12.81 | % | $ | 48,364 | 12.52 | % | $ | 8,605 | 12.48 | % | |||||||||||||
For Capital Adequacy Purposes | 18,270 | 4 | 15,453 | 4 | 2,757 | 4 | |||||||||||||||||||
To Be Well Capitalized | 27,406 | 6 | 23,179 | 6 | 4,136 | 6 | |||||||||||||||||||
Tier I Capital (to Average Assets) | |||||||||||||||||||||||||
Actual | $ | 58,494 | 8.97 | % | $ | 48,364 | 8.51 | % | $ | 8,605 | 10.92 | % | |||||||||||||
For Capital Adequacy Purposes | 26,093 | 4 | 22,735 | 4 | 3,152 | 4 | |||||||||||||||||||
To Be Well Capitalized | 32,617 | 5 | 28,419 | 5 | 3,940 | 5 | |||||||||||||||||||
See Note 15 for additional information concerning regulatory capital requirements | |||||||||||||||||||||||||
The Company’s and its subsidiaries’ actual capital ratios are presented in the following table that shows that all regulatory capital requirements were met as of December 31, 2012. | |||||||||||||||||||||||||
Middlefield Banc Corp. | The Middlefield Banking Co. | Emerald Bank | |||||||||||||||||||||||
31-Dec-12 | 31-Dec-12 | 31-Dec-12 | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Total Capital (to Risk-weighted Assets) | |||||||||||||||||||||||||
Actual | $ | 57,784 | 13.86 | % | $ | 47,887 | 13.29 | % | $ | 8,440 | 15.45 | % | |||||||||||||
For Capital Adequacy Purposes | 33,344 | 8 | 28,822 | 8 | 4,370 | 8 | |||||||||||||||||||
To Be Well Capitalized | 41,680 | 10 | 36,027 | 10 | 5,463 | 10 | |||||||||||||||||||
Tier I Capital (to Risk-weighted Assets) | |||||||||||||||||||||||||
Actual | $ | 52,543 | 12.61 | % | $ | 43,371 | 12.04 | % | $ | 7,737 | 14.16 | % | |||||||||||||
For Capital Adequacy Purposes | 16,672 | 4 | 14,411 | 4 | 2,185 | 4 | |||||||||||||||||||
To Be Well Capitalized | 25,008 | 6 | 21,616 | 6 | 3,278 | 6 | |||||||||||||||||||
Tier I Capital (to Average Assets) | |||||||||||||||||||||||||
Actual | $ | 52,543 | 7.88 | % | $ | 43,371 | 7.32 | % | $ | 7,737 | 10.61 | % | |||||||||||||
For Capital Adequacy Purposes | 26,675 | 4 | 23,684 | 4 | 2,916 | 4 | |||||||||||||||||||
To Be Well Capitalized | 33,344 | 5 | 29,605 | 5 | 3,646 | 5 | |||||||||||||||||||
Note_17_Fair_Value_Disclosure_
Note 17 - Fair Value Disclosure Measurements | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||
17 | FAIR VALUE DISCLOSURE MEASUREMENTS | ||||||||||||||||||||
The following disclosures show the hierarchal disclosure framework associated with the level of pricing observations utilized in measuring assets and liabilities at fair value. The three broad levels defined by U.S. generally accepted accounting principles are as follows: | |||||||||||||||||||||
Level I: | Quoted prices are available in active markets for identical assets or liabilities as of the reported date. | ||||||||||||||||||||
Level II: | Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. | ||||||||||||||||||||
Level III: | Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. | ||||||||||||||||||||
This hierarchy requires the use of observable market data when available. | |||||||||||||||||||||
The following table presents the assets reported on the Consolidated Balance Sheet at their fair value as of December 31, 2013 and 2012, by level within the fair value hierarchy. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
(Dollar amounts in thousands) | Level I | Level II | Level III | Total | |||||||||||||||||
Assets measured on a recurring basis: | |||||||||||||||||||||
U.S. government agency securities | $ | - | $ | 25,763 | $ | - | $ | 25,763 | |||||||||||||
Obligations of states and political subdivisions | - | 88,614 | - | 88,614 | |||||||||||||||||
Mortgage-backed securities in government- sponsored entities | - | 38,323 | - | 38,323 | |||||||||||||||||
Private-label mortgage-backed securities | - | 3,693 | - | 3,693 | |||||||||||||||||
Total debt securities | - | 156,393 | - | 156,393 | |||||||||||||||||
Equity securities in financial institutions | 5 | 745 | - | 750 | |||||||||||||||||
Total | $ | 5 | $ | 157,138 | $ | - | $ | 157,143 | |||||||||||||
31-Dec-12 | |||||||||||||||||||||
Level I | Level II | Level III | Total | ||||||||||||||||||
Assets measured on a recurring basis: | |||||||||||||||||||||
U.S. government agency securities | $ | - | $ | 24,960 | $ | - | $ | 24,960 | |||||||||||||
Obligations of states and political subdivisions | - | 92,596 | - | 92,596 | |||||||||||||||||
Mortgage-backed securities in government- sponsored entities | - | 71,102 | - | 71,102 | |||||||||||||||||
Private-label mortgage-backed securities | - | 5,064 | - | 5,064 | |||||||||||||||||
Total debt securities | - | 193,722 | - | 193,722 | |||||||||||||||||
Equity securities in financial institutions | 5 | 745 | - | 750 | |||||||||||||||||
Total | $ | 5 | $ | 194,467 | $ | - | $ | 194,472 | |||||||||||||
Financial instruments are considered Level III when their values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. In addition to these unobservable inputs, the valuation models for Level III financial instruments typically also rely on a number of inputs that are readily observable either directly or indirectly. Level III financial instruments also include those for which the determination of fair value requires significant management judgment or estimation. | |||||||||||||||||||||
The following tables present the assets measured on a non-recurring basis on the Consolidated Balance Sheet at their fair value by level within the fair value hierarchy. Impaired loans that are collateral dependent are written down to fair value through the establishment of specific reserves. Techniques used to value the collateral that secure the impaired loan include: quoted market prices for identical assets classified as Level I inputs and observable inputs, employed by certified appraisers, for similar assets classified as Level II inputs. In cases where valuation techniques included inputs that are unobservable and are based on estimates and assumptions developed by management based on the best information available under each circumstance, the asset valuation is classified as Level III inputs. | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
(Dollar amounts in thousands) | Level I | Level II | Level III | Total | |||||||||||||||||
Assets measured on a non-recurring basis: | |||||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 17,158 | $ | 17,158 | |||||||||||||
Other real estate owned | - | - | 2,698 | 2,698 | |||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Level I | Level II | Level III | Total | ||||||||||||||||||
Assets measured on a non-recurring basis: | |||||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 17,600 | $ | 17,600 | |||||||||||||
Other real estate owned | - | - | 1,846 | 1,846 | |||||||||||||||||
The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company uses Level III inputs to determine fair value: | |||||||||||||||||||||
Quantitative Information about Level III Fair Value Measurements | |||||||||||||||||||||
(unaudited, in thousands) | Fair Value Estimate | Valuation | Unobservable | Range (Weighted Average) | |||||||||||||||||
Techniquest | Input | ||||||||||||||||||||
31-Dec-13 | 31-Dec-13 | 31-Dec-12 | |||||||||||||||||||
Impaired loans | $ | 17,158 | $ | 17,600 | Appraisal of | Appraisal | 0.00% | to | -68.00% | -30.00% | |||||||||||
collateral (1) | adjustments (2) | ||||||||||||||||||||
Liquidation | 0.00% | to | -45.80% | -2.10% | |||||||||||||||||
expenses (2) | |||||||||||||||||||||
Other real estate owned | $ | 2,698 | $ | 1,846 | Appraisal of | Appraisal | 0% | to | -10.00% | -7.50% | |||||||||||
collateral (1), (3) | adjustments (2) | ||||||||||||||||||||
(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. | |||||||||||||||||||||
(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. | |||||||||||||||||||||
(3) Includes qualitative adjustments by management and estimated liquidation expenses. | |||||||||||||||||||||
The estimated fair value of the Company’s financial instruments is as follows: | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Carrying | Total | ||||||||||||||||||||
Value | Level I | Level II | Level III | Fair Value | |||||||||||||||||
(in thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 26,193 | $ | 26,193 | $ | - | $ | - | $ | 26,193 | |||||||||||
Investment securities | |||||||||||||||||||||
Available for sale | 157,143 | 5 | 157,138 | - | 157,143 | ||||||||||||||||
Net loans | 428,679 | - | - | 430,502 | 430,502 | ||||||||||||||||
Bank-owned life insurance | 8,816 | 8,816 | - | - | 8,816 | ||||||||||||||||
Federal Home Loan Bank stock | 1,887 | 1,887 | - | - | 1,887 | ||||||||||||||||
Accrued interest receivable | 2,135 | 2,135 | - | - | 2,135 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 568,836 | $ | 394,422 | $ | - | $ | 175,854 | $ | 570,276 | |||||||||||
Short-term borrowings | 10,809 | 10,809 | - | - | 10,809 | ||||||||||||||||
Other borrowings | 11,609 | - | 11,787 | 11,787 | |||||||||||||||||
Accrued interest payable | 364 | 364 | - | - | 364 | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Carrying | Total | ||||||||||||||||||||
Value | Level I | Level II | Level III | Fair Value | |||||||||||||||||
(in thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 45,346 | $ | 45,346 | $ | - | $ | - | $ | 45,346 | |||||||||||
Investment securities | |||||||||||||||||||||
Available for sale | 194,472 | 5 | 194,467 | - | 194,472 | ||||||||||||||||
Net loans | 400,654 | - | - | 390,206 | 390,206 | ||||||||||||||||
Bank-owned life insurance | 8,536 | 8,536 | - | - | 8,536 | ||||||||||||||||
Federal Home Loan Bank stock | 1,887 | 1,887 | - | - | 1,887 | ||||||||||||||||
Accrued interest receivable | 2,163 | 2,163 | - | - | 2,163 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 593,335 | $ | 396,582 | $ | - | $ | 196,122 | $ | 592,704 | |||||||||||
Short-term borrowings | 6,538 | 6,538 | - | - | 6,538 | ||||||||||||||||
Other borrowings | 12,970 | - | - | 13,337 | 13,337 | ||||||||||||||||
Accrued interest payable | 492 | 492 | - | - | 492 | ||||||||||||||||
Financial instruments are defined as cash, evidence of ownership interest in an entity, or a contract which creates an obligation or right to receive or deliver cash or another financial instrument from/to a second entity on potentially favorable or unfavorable terms. | |||||||||||||||||||||
Fair value is defined as the amount at which a financial instrument could be exchanged in a current transaction between willing parties other than in a forced liquidation sale. If a quoted market price is available for a financial instrument, the estimated fair value would be calculated based upon the market price per trading unit of the instrument. | |||||||||||||||||||||
If no readily available market exists, the fair value estimates for financial instruments should be based upon management’s judgment regarding current economic conditions, interest rate risk, expected cash flows, future estimated losses, and other factors as determined through various option pricing formulas or simulation modeling. Since many of these assumptions result from judgments made by management based upon estimates which are inherently uncertain, the resulting estimated fair values may not be indicative of the amount realizable in the sale of a particular financial instrument. In addition, changes in assumptions on which the estimated fair values are based may have a significant impact on the resulting estimated fair values. | |||||||||||||||||||||
As certain assets such as deferred tax assets and premises and equipment are not considered financial instruments, the estimated fair value of financial instruments would not represent the full value of the Company. | |||||||||||||||||||||
The Company employed simulation modeling in determining the estimated fair value of financial instruments for which quoted market prices were not available based upon the following assumptions: | |||||||||||||||||||||
Cash and Cash Equivalents, Federal Home Loan Bank Stock, Accrued Interest Receivable, Accrued Interest Payable, and Short-Term Borrowings | |||||||||||||||||||||
The fair value is equal to the current carrying value. | |||||||||||||||||||||
Bank-Owned Life Insurance | |||||||||||||||||||||
The fair value is equal to the cash surrender value of the life insurance policies. | |||||||||||||||||||||
Investment Securities Available for Sale | |||||||||||||||||||||
The fair value of investment securities is equal to the available quoted market price. If no quoted market price is available, fair value is estimated using the quoted market price for similar securities. | |||||||||||||||||||||
Loans | |||||||||||||||||||||
The fair value is estimated by discounting future cash flows using current market inputs at which loans with similar terms and qualities would be made to borrowers of similar credit quality. Where quoted market prices were available, primarily for certain residential mortgage loans, such market rates were utilized as estimates for fair value. | |||||||||||||||||||||
Deposits and Other Borrowed Funds | |||||||||||||||||||||
The fair values of certificates of deposit and other borrowed funds are based on the discounted value of contractual cash flows. The discount rates are estimated using rates currently offered for similar instruments with similar remaining maturities. Demand, savings, and money market deposits are valued at the amount payable on demand as of year-end. | |||||||||||||||||||||
Commitments to Extend Credit | |||||||||||||||||||||
These financial instruments are generally not subject to sale, and estimated fair values are not readily available. The carrying value, represented by the net deferred fee arising from the unrecognized commitment or letter of credit, and the fair value, determined by discounting the remaining contractual fee over the term of the commitment using fees currently charged to enter into similar agreements with similar credit risk, are not considered material for disclosure. The contractual amounts of unfunded commitments and letters of credit are presented in Note 14. |
Note_18_Accumulated_Other_Comp
Note 18 - Accumulated Other Comprehensive Income | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Disclosure Text Block [Abstract] | ' | |||||
Comprehensive Income (Loss) Note [Text Block] | ' | |||||
18 | ACCUMULATED OTHER COMPREHENSIVE INCOME | |||||
The following table presents the changes in accumulated other comprehensive income (loss) by component net of tax for years ended December 31: | ||||||
Unrealized gains on available for sale securities (a) | ||||||
Balance as of December 31, 2012 | $ | 5,391 | ||||
Other comprehensive loss before reclassification | (7,621 | ) | ||||
Amount reclassified from accumulated other comprehensive loss | (7 | ) | ||||
Period change | (7,628 | ) | ||||
Balance at December 31, 2013 | $ | (2,237 | ) | |||
(a) | All amounts are net of tax. Amounts in parentheses indicate debits. | |||||
The following tables present significant amounts reclassified out of each component of accumulated other comprehensive income (loss): | ||||||
Amount Reclassified from | Affected Line Item in | |||||
Accumulated Other Comprehensive Income (Loss) (a) | the Statement Where | |||||
For | Net Income is | |||||
December 31, | ||||||
Details about other comprehensive income | 2013 | Presented | ||||
Unrealized gains (losses) on available for sale securities | ||||||
$ | (11 | ) | Investment securities gains, net | |||
4 | Income taxes | |||||
$ | (7 | ) | Net of tax | |||
(a) | Amounts in parentheses indicate debits to net income | |||||
Note_19_Parent_Company
Note 19 - Parent Company | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' | ||||||||||||
19 | PARENT COMPANY | ||||||||||||
Following are condensed financial statements for the Company. | |||||||||||||
CONDENSED BALANCE SHEET | |||||||||||||
(Dollar amounts in thousands) | December 31, | ||||||||||||
2013 | 2012 | ||||||||||||
ASSETS | |||||||||||||
Cash and due from banks | $ | 797 | $ | 1,740 | |||||||||
Investment securities available for sale | 750 | 751 | |||||||||||
Investment in non-bank subsidiary | 2,560 | 2,664 | |||||||||||
Investment in subsidiary banks | 59,951 | 62,002 | |||||||||||
Other assets | 1,615 | 1,453 | |||||||||||
TOTAL ASSETS | $ | 65,673 | $ | 68,610 | |||||||||
LIABILITIES | |||||||||||||
Trust preferred securities | $ | 8,248 | $ | 8,248 | |||||||||
Short-term borrowings | 3,895 | 4,896 | |||||||||||
Other liabilities | 57 | 29 | |||||||||||
TOTAL LIABILITIES | 12,200 | 13,173 | |||||||||||
STOCKHOLDERS' EQUITY | 53,473 | 55,437 | |||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 65,673 | $ | 68,610 | |||||||||
CONDENSED STATEMENT OF INCOME | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||
INCOME | |||||||||||||
Dividends from subsidiary bank | $ | 2,198 | $ | 2,327 | $ | 2,403 | |||||||
Other | 5 | 8 | (177 | ) | |||||||||
Total income | 2,203 | 2,335 | 2,226 | ||||||||||
EXPENSES | |||||||||||||
Interest expense | 361 | 417 | 772 | ||||||||||
Other | 475 | 594 | 370 | ||||||||||
Total expenses | 836 | 1,011 | 1,142 | ||||||||||
Income before income tax benefit | 1,367 | 1,324 | 1,084 | ||||||||||
Income tax benefit | (283 | ) | (342 | ) | (449 | ) | |||||||
Income before equity in undistributed net income of subsidiaries | 1,650 | 1,666 | 1,533 | ||||||||||
Equity in undistributed net income of subsidiaries | 5,378 | 4,615 | 2,597 | ||||||||||
NET INCOME | $ | 7,028 | $ | 6,281 | $ | 4,130 | |||||||
Comprehensive (Loss) Income | $ | (600 | ) | $ | 7,131 | $ | 8,184 | ||||||
CONDENSED STATEMENT OF CASH FLOWS | |||||||||||||
Year Ended December 31, | |||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||
OPERATING ACTIVITIES | |||||||||||||
Net income | $ | 7,028 | $ | 6,281 | $ | 4,130 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Equity in undistributed net income of Middlefield Banking Company | (4,884 | ) | (4,655 | ) | (3,422 | ) | |||||||
Equity in undistributed net income of Emerald Bank | (598 | ) | (240 | ) | 384 | ||||||||
Equity in undistributed net income of EMORECO | 104 | 280 | 441 | ||||||||||
Stock-based compensation expense | - | 32 | 59 | ||||||||||
Investment securities losses, net | - | - | 179 | ||||||||||
Other | (253 | ) | (885 | ) | (806 | ) | |||||||
Net cash provided by operating activities | 1,397 | 813 | 965 | ||||||||||
INVESTING ACTIVITIES | |||||||||||||
Investment in subsidiary bank | - | - | (1,500 | ) | |||||||||
Net cash used for investing activities | - | - | (1,500 | ) | |||||||||
FINANCING ACTIVITIES | |||||||||||||
Net decrease in short-term borrowings | (976 | ) | (804 | ) | - | ||||||||
Common stock issued | 74 | 2,329 | 2,210 | ||||||||||
Stock options exercised | (77 | ) | - | - | |||||||||
Proceeds from dividend reinvestment plan | 736 | 694 | 542 | ||||||||||
Cash dividends | (2,097 | ) | (2,002 | ) | (1,764 | ) | |||||||
Net cash (used for) provided by financing activities | (2,340 | ) | 217 | 988 | |||||||||
(Decrease) increase in cash | (943 | ) | 1,030 | 453 | |||||||||
CASH AT BEGINNING OF YEAR | 1,740 | 710 | 257 | ||||||||||
CASH AT END OF YEAR | $ | 797 | $ | 1,740 | $ | 710 | |||||||
Note_20_Selected_Quarterly_Fin
Note 20 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information [Text Block] | ' | ||||||||||||||||
20 | SELECTED QUARTERLY FINANCIAL DATA (Unaudited) | ||||||||||||||||
(Dollar amounts in thousands) | Three Months Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | ||||||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||||||
Total interest income | $ | 7,014 | $ | 6,947 | $ | 7,174 | $ | 7,043 | |||||||||
Total interest expense | 1,429 | 1,357 | 1,328 | 1,136 | |||||||||||||
Net interest income | 5,585 | 5,590 | 5,846 | 5,907 | |||||||||||||
Provision for loan losses | 313 | 300 | 153 | (570 | ) | ||||||||||||
Net interest income after provision for loan losses | 5,272 | 5,290 | 5,693 | 6,477 | |||||||||||||
Total noninterest income | 868 | 819 | 808 | 650 | |||||||||||||
Total noninterest expense | 4,001 | 3,948 | 4,115 | 4,806 | |||||||||||||
Income before income taxes | 2,139 | 2,161 | 2,386 | 2,321 | |||||||||||||
Income taxes | 482 | 476 | 521 | 500 | |||||||||||||
Net income | $ | 1,657 | $ | 1,685 | $ | 1,865 | $ | 1,821 | |||||||||
Per share data: | |||||||||||||||||
Net income | |||||||||||||||||
Basic | $ | 0.84 | $ | 0.82 | $ | 0.92 | $ | 0.9 | |||||||||
Diluted | 0.83 | 0.82 | 0.92 | 0.9 | |||||||||||||
Average shares outstanding: | |||||||||||||||||
Basic | 1,999,645 | 2,017,264 | 2,022,490 | 2,027,680 | |||||||||||||
Diluted | 2,010,292 | 2,023,961 | 2,029,420 | 2,032,611 | |||||||||||||
(Dollar amounts in thousands) | Three Months Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | ||||||||||||||
2012 | 2012 | 2012 | 2012 | ||||||||||||||
Total interest income | $ | 7,232 | $ | 7,223 | $ | 7,342 | $ | 6,949 | |||||||||
Total interest expense | 1,686 | 1,646 | 1,602 | 1,513 | |||||||||||||
Net interest income | 5,546 | 5,577 | 5,740 | 5,436 | |||||||||||||
Provision for loan losses | 600 | 450 | 143 | 975 | |||||||||||||
Net interest income after provision for loan losses | 4,946 | 5,127 | 5,597 | 4,461 | |||||||||||||
Total noninterest income | 794 | 1,017 | 868 | 772 | |||||||||||||
Total noninterest expense | 3,782 | 4,041 | 4,122 | 3,694 | |||||||||||||
Income before income taxes | 1,958 | 2,103 | 2,343 | 1,539 | |||||||||||||
Income taxes | 435 | 463 | 494 | 270 | |||||||||||||
Net income | $ | 1,523 | $ | 1,640 | $ | 1,849 | $ | 1,269 | |||||||||
Per share data: | |||||||||||||||||
Net income | |||||||||||||||||
Basic | $ | 0.86 | $ | 0.85 | $ | 0.93 | $ | 0.65 | |||||||||
Diluted | 0.86 | 0.85 | 0.93 | 0.64 | |||||||||||||
Average shares outstanding: | |||||||||||||||||
Basic | 1,763,982 | 1,919,333 | 1,978,181 | 1,984,818 | |||||||||||||
Diluted | 1,764,585 | 1,921,205 | 1,983,863 | 1,991,354 | |||||||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Basis of Accounting, Policy [Policy Text Block] | ' | ||||||||||||||||
Nature of Operations and Basis of Presentation | |||||||||||||||||
Middlefield Banc Corp. (the “Company”) is an Ohio corporation organized to become the holding company of The Middlefield Banking Company (“MBC”). MBC is a state-chartered bank located in Ohio. On April 19, 2007, Middlefield Banc Corp. acquired Emerald Bank (“EB”), an Ohio-chartered commercial bank headquartered in Dublin, Ohio. On October 23, 2009, the Company established an asset resolution subsidiary named EMORECO, Inc. The Company and its subsidiaries derive substantially all of their income from banking and bank-related services, which includes interest earnings on residential real estate, commercial mortgage, commercial and consumer financings as well as interest earnings on investment securities and deposit services to its customers through ten locations. The Company is supervised by the Board of Governors of the Federal Reserve System, while MBC and EB are subject to regulation and supervision by the Federal Deposit Insurance Corporation and the Ohio Division of Financial Institutions. EB merged into MBC on January 20, 2014. | |||||||||||||||||
The consolidated financial statements of the Company include its wholly-owned subsidiaries, MBC, EB, and EMORECO, Inc. (the “Banks”). Significant intercompany items have been eliminated in preparing the consolidated financial statements. | |||||||||||||||||
The financial statements have been prepared in conformity with U.S. generally accepted accounting principles. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ from those estimates. | |||||||||||||||||
Marketable Securities, Policy [Policy Text Block] | ' | ||||||||||||||||
Investment Securities | |||||||||||||||||
Investment securities are classified at the time of purchase, based on management’s intention and ability, as securities held to maturity or securities available for sale. Debt securities acquired with the intent and ability to hold to maturity are stated at cost adjusted for amortization of premium and accretion of discount, which are computed using a level yield method and recognized as adjustments of interest income. Certain other debt securities have been classified as available for sale to serve principally as a source of liquidity. Unrealized holding gains and losses for available-for-sale securities are reported as a separate component of stockholders’ equity, net of tax, until realized. Realized security gains and losses are computed using the specific identification method. Interest and dividends on investment securities are recognized as income when earned. | |||||||||||||||||
Common stock of the Federal Home Loan Bank (“FHLB”) represents ownership in an institution that is wholly owned by other financial institutions. This equity security is accounted for at cost and classified with other assets. The FHLB of Cincinnati has reported profits for 2013 and 2012, remains in compliance with regulatory capital and liquidity requirements, and continues to pay dividends on the stock and make redemptions at the par value. With consideration given to these factors, management concluded that the stock was not impaired at December 31, 2013 or 2012. | |||||||||||||||||
Securities are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether a decline in their value is other than temporary. For debt securities, management considers whether the present value of cash flows expected to be collected are less than the security’s amortized cost basis (the difference defined as the credit loss), the magnitude and duration of the decline, the reasons underlying the decline and the Company’s intent to sell the security or whether it is more likely than not that the Company would be required to sell the security before its anticipated recovery in market value, to determine whether the loss in value is other than temporary. Once a decline in value is determined to be other than temporary, if the Company does not intend to sell the security, and it is more likely than not that it will not be required to sell the security, before recovery of the security’s amortized cost basis, the charge to earnings is limited to the amount of credit loss. Any remaining difference between fair value and amortized cost (the difference defined as the non-credit portion) is recognized in other comprehensive income, net of applicable taxes. Otherwise, the entire difference between fair value and amortized cost is charged to earnings. For equity securities where the fair value has been significantly below cost for one year, the Company’s policy is to recognize an impairment loss unless sufficient evidence is available that the decline is not other than temporary and a recovery period can be predicted. | |||||||||||||||||
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | ' | ||||||||||||||||
Loans | |||||||||||||||||
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff generally are reported at their outstanding unpaid principal balances net of the allowance for loan and lease loss. Interest income is recognized as income when earned on the accrual method. The accrual of interest is discontinued on a loan when management believes, after considering economic and business conditions, the borrower’s financial condition is such that collection of interest is doubtful. Interest received on nonaccrual loans is recorded as income or applied against principal according to management’s judgment as to the collectability of such principal. | |||||||||||||||||
Loan origination fees and certain direct loan origination costs are being deferred and the net amount amortized as an adjustment of the related loan’s yield. Management is amortizing these amounts over the contractual life of the related loans. | |||||||||||||||||
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ' | ||||||||||||||||
Allowance for Loan and Lease Loss | |||||||||||||||||
The allowance for loan and lease loss represents the amount which management estimates is adequate to provide for probable loan losses inherent in the loan portfolio. The allowance method is used in providing for loan losses. Accordingly, all loan losses are charged to the allowance, and all recoveries are credited to it. The allowance for loan and lease loss is established through a provision for loan losses which is charged to operations. The provision is based on management’s periodic evaluation of the adequacy of the allowance for loan and lease loss, which encompasses the overall risk characteristics of the various portfolio segments, past experience with losses, the impact of economic conditions on borrowers, and other relevant factors. The estimates used in determining the adequacy of the allowance for loan and lease loss, including the amounts and timing of future cash flows expected on impaired loans, are particularly susceptible to significant change in the near term. | |||||||||||||||||
A loan is considered impaired when it is probable the borrower will not repay the loan according to the original contractual terms of the loan agreement. Management has determined that first mortgage loans on one-to-four family properties and all consumer loans represent large groups of smaller-balance homogeneous loans that are to be collectively evaluated. Loans that experience insignificant payment delays, which are defined as 90 days or less, generally are not classified as impaired. A loan is not impaired during a period of delay in payment if the Company expects to collect all amounts due, including interest accrued, at the contractual interest rate for the period of delay. All loans identified as impaired are evaluated independently by management. The Company estimates credit losses on impaired loans based on the present value of expected cash flows or the fair value of the underlying collateral if the loan repayment is expected to come from the sale or operation of such collateral. Impaired loans, or portions thereof, are charged off when it is determined a realized loss has occurred. Until such time, an allowance for loan and lease loss is maintained for estimated losses. Cash receipts on impaired loans are applied first to accrued interest receivable unless otherwise required by the loan terms, except when an impaired loan is also a nonaccrual loan, in which case the portion of the payment related to interest is recognized as income. | |||||||||||||||||
Mortgage loans secured by one-to-four family properties and all consumer loans are large groups of smaller-balance homogeneous loans and are measured for impairment collectively. Management determines the significance of payment delays on a case-by-case basis, taking into consideration all circumstances concerning the loan, the creditworthiness and payment history of the borrower, the length of the payment delay, and the amount of shortfall in relation to the principal and interest owed. | |||||||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | ||||||||||||||||
Premises and Equipment | |||||||||||||||||
Land is carried at cost. Premises and equipment are stated at cost net of accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the assets, which range from 3 to 20 years for furniture, fixtures, and equipment and 3 to 40 years for buildings and leasehold improvements. Expenditures for maintenance and repairs are charged against income as incurred. Costs of major additions and improvements are capitalized. | |||||||||||||||||
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | ' | ||||||||||||||||
Goodwill | |||||||||||||||||
The Company accounts for goodwill using a two-step process for testing the impairment of goodwill on at least an annual basis. This approach could cause more volatility in the Company’s reported net income because impairment losses, if any, could occur irregularly and in varying amounts. No impairment of goodwill was recognized in any of the periods presented. | |||||||||||||||||
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | ' | ||||||||||||||||
Intangible Assets | |||||||||||||||||
Intangible assets include core deposit intangibles, which are a measure of the value of consumer demand and savings deposits acquired in business combinations accounted for as purchases. The core deposit intangibles are being amortized to expense over a 10 year life on a straight-line basis. The recoverability of the carrying value of intangible assets is evaluated on an ongoing basis, and permanent declines in value, if any, are charged to expense. | |||||||||||||||||
Life Insurance, Corporate or Bank Owned [Text Block] | ' | ||||||||||||||||
Bank-Owned Life Insurance (“BOLI”) | |||||||||||||||||
The Company owns insurance on the lives of a certain group of key employees. The policies were purchased to help offset the increase in the costs of various fringe benefit plans including healthcare. The cash surrender value of these policies is included as an asset on the Consolidated Balance Sheet and any increases in the cash surrender value are recorded as noninterest income on the Consolidated Statement of Income. In the event of the death of an insured individual under these policies, the Company would receive a death benefit, which would be recorded as noninterest income. | |||||||||||||||||
Real Estate, Policy [Policy Text Block] | ' | ||||||||||||||||
Other Real Estate Owned | |||||||||||||||||
Real estate properties acquired through foreclosure are initially recorded at fair value at the date of foreclosure, establishing a new cost basis. After foreclosure, management periodically performs valuations and the real estate is carried at the lower of cost or fair value less estimated cost to sell. Revenue and expenses from operations of the properties, gains or losses on sales and additions to the valuation allowance are included in operating results. | |||||||||||||||||
Income Tax, Policy [Policy Text Block] | ' | ||||||||||||||||
Income Taxes | |||||||||||||||||
The Company and its subsidiaries file a consolidated federal income tax return. Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes. | |||||||||||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||||||||||
Earnings Per Share | |||||||||||||||||
The Company provides dual presentation of basic and diluted earnings per share. Basic earnings per share are calculated utilizing net income as reported in the numerator and average shares outstanding in the denominator. The computation of diluted earnings per share differs in that the dilutive effects of any stock options, warrants, and convertible securities are adjusted in the denominator. | |||||||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | ||||||||||||||||
Stock-Based Compensation | |||||||||||||||||
The Company accounts for stock compensation based on the grant date fair value of all share-based payment awards that are expected to vest, including employee share options to be recognized as employee compensation expense over the requisite service period. | |||||||||||||||||
For purposes of computing results, the Company estimated the fair values of stock options using the Black-Scholes option-pricing model. The model requires the use of subjective assumptions that can materially affect fair value estimates. The fair value of each option is amortized into compensation expense on a straight-line basis between the grant date for the option and each vesting date. The fair value of each stock option granted was estimated using the following weighted-average assumptions: | |||||||||||||||||
Grant | Expected | Risk-Free | Expected | Expected | |||||||||||||
Year | Dividend | Interest Rate | Volatility | Life (in years) | |||||||||||||
Yield | |||||||||||||||||
2011 | 5.82 | % | 3 | % | 21.78 | 9.96 | |||||||||||
During the years ended December 31, 2013, 2012, and 2011, the Company recorded $0, $0, and $16,000, of compensation cost related to vested stock options. As of December 31, 2013, there was no unrecognized compensation cost related to unvested stock options. The weighted-average fair value of the stock option granted for 2011 was $1.75. | |||||||||||||||||
The Company also issued 1,722 and 2,400 shares of restricted stock and recorded stock–based compensation expense of $32,000 and $43,000 in 2012 and 2011, respectively. There were no shares of restricted stock issued in 2013. | |||||||||||||||||
For the year ended December 31, 2013, 21,112 options were exercised resulting in net proceeds of $77,000. | |||||||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | ||||||||||||||||
Cash Flow Information | |||||||||||||||||
The Company has defined cash and cash equivalents as those amounts included in the Consolidated Balance Sheet captions as “Cash and due from banks” and “Federal funds sold” with original maturities of less than 90 days. | |||||||||||||||||
Advertising Costs, Policy [Policy Text Block] | ' | ||||||||||||||||
Advertising Costs | |||||||||||||||||
Advertising costs are expensed as incurred. Advertising expenses amounted to $445,000, $423,000, and $439,000, for 2013, 2012, and 2011, respectively. | |||||||||||||||||
Reclassification, Policy [Policy Text Block] | ' | ||||||||||||||||
Reclassification of Comparative Amounts | |||||||||||||||||
Certain comparative amounts for prior years have been reclassified to conform to current-year presentations. Such reclassifications did not affect net income or retained earnings. | |||||||||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||||||||||||||||
Recent Accounting Pronouncements | |||||||||||||||||
In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The standard requires that companies present either in a single note or parenthetically on the face of the financial statements, the effect of significant amounts reclassified from each component of accumulated other comprehensive income based on its source and the income statement line items affected by the reclassification. The new requirements will take effect for public companies in fiscal years, and interim periods within those years, beginning after December 15, 2012. The Company adopted this standard on January 1, 2013. The effect of adopting this standard increased our disclosure surrounding reclassification items out of accumulated other comprehensive income. | |||||||||||||||||
In February 2013, the FASB issued ASU 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date. The ASU requires the measurement of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement with its co-obligors as well as any additional amount that the entity expects to pay on behalf of its co-obligors. The new standard is effective retrospectively for fiscal years and interim periods within those years, beginning after December 15, 2013, and early adoption is permitted. This ASU is not expected to have a significant impact on the Company’s financial statements. | |||||||||||||||||
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This Update applies to all entities that have unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. An unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. The amendments in this Update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. For nonpublic entities, the amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. Early adoption is permitted. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. | |||||||||||||||||
In January 2014, FASB issued ASU 2014-01, Investments – Equity Method and Join Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. The amendments in this Update permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in this Update should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those preexisting investments. The amendments in this Update are effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. This ASU is not expected to have a significant impact on the Company’s financial statements. | |||||||||||||||||
In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The amendments in this Update clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method. This ASU is not expected to have a significant impact on the Company’s financial statement. |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||||||
Grant | Expected | Risk-Free | Expected | Expected | |||||||||||||
Year | Dividend | Interest Rate | Volatility | Life (in years) | |||||||||||||
Yield | |||||||||||||||||
2011 | 5.82 | % | 3 | % | 21.78 | 9.96 |
Note_2_Earnings_Per_Share_Tabl
Note 2 - Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
EARNINGS PER SHARE [Abstract] | ' | ||||||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | ||||||||||||
2013 | 2012 | 2011 | |||||||||||
Weighted-average common shares outstanding | 2,206,392 | 2,101,490 | 1,872,582 | ||||||||||
Average treasury stock shares | (189,530 | ) | (189,530 | ) | (189,530 | ) | |||||||
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share | 2,016,862 | 1,911,960 | 1,683,052 | ||||||||||
Additional common stock equivalents used to calculate diluted earnings per share | 7,178 | 4,972 | - | ||||||||||
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share | 2,024,040 | 1,916,932 | 1,683,052 |
Note_3_Investment_Securities_A1
Note 3 - Investment Securities Available For Sale (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. government agency securities | $ | 27,289 | $ | 135 | (1,661 | ) | $ | 25,763 | |||||||||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Taxable | 3,787 | 46 | (38 | ) | 3,795 | ||||||||||||||||||||
Tax-exempt | 86,524 | 1,562 | (3,267 | ) | 84,819 | ||||||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 38,816 | 535 | (1,028 | ) | 38,323 | ||||||||||||||||||||
Private-label mortgage-backed securities | 3,366 | 327 | - | 3,693 | |||||||||||||||||||||
Total debt securities | 159,782 | 2,605 | (5,994 | ) | 156,393 | ||||||||||||||||||||
Equity securities in financial institutions | 750 | - | - | 750 | |||||||||||||||||||||
Total | $ | 160,532 | $ | 2,605 | $ | (5,994 | ) | $ | 157,143 | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. government agency securities | $ | 24,485 | $ | 566 | (91 | ) | $ | 24,960 | |||||||||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Taxable | 6,888 | 738 | - | 7,626 | |||||||||||||||||||||
Tax-exempt | 80,391 | 4,683 | (104 | ) | 84,970 | ||||||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 69,238 | 1,929 | (65 | ) | 71,102 | ||||||||||||||||||||
Private-label mortgage-backed securities | 4,553 | 511 | - | 5,064 | |||||||||||||||||||||
Total debt securities | 185,555 | 8,427 | (260 | ) | 193,722 | ||||||||||||||||||||
Equity securities in financial institutions | 750 | - | - | 750 | |||||||||||||||||||||
Total | $ | 186,305 | $ | 8,427 | $ | (260 | ) | $ | 194,472 | ||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
(Dollar amounts in thousands) | Cost | Value | |||||||||||||||||||||||
Due in one year or less | $ | 1,530 | $ | 1,552 | |||||||||||||||||||||
Due after one year through five years | 4,640 | 4,858 | |||||||||||||||||||||||
Due after five years through ten years | 22,433 | 22,257 | |||||||||||||||||||||||
Due after ten years | 131,179 | 127,726 | |||||||||||||||||||||||
Total | $ | 159,782 | $ | 156,393 | |||||||||||||||||||||
Realized Gain (Loss) on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Proceeds from sales | $ | 25,088 | 32,985 | 24,127 | |||||||||||||||||||||
Gross realized gains | 186 | 704 | 830 | ||||||||||||||||||||||
Gross realized losses | (175 | ) | (94 | ) | (809 | ) | |||||||||||||||||||
Impairment losses | - | - | (194 | ) | |||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Less than Twelve Months | Twelve Months or Greater | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
(Dollar amounts in thousands) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. government agency securities | $ | 13,130 | $ | (929 | ) | $ | 7,166 | $ | (732 | ) | $ | 20,295 | $ | (1,661 | ) | ||||||||||
Obligations of states and political subdivisions | |||||||||||||||||||||||||
Taxable | 1,301 | (38 | ) | - | - | 1,301 | (38 | ) | |||||||||||||||||
Tax-exempt | 26,743 | (2,883 | ) | 2,678 | (383 | ) | 29,421 | (3,267 | ) | ||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 18,082 | (757 | ) | 5,248 | (271 | ) | 23,330 | (1,028 | ) | ||||||||||||||||
Total | $ | 59,255 | $ | (4,608 | ) | $ | 15,092 | $ | (1,386 | ) | $ | 74,347 | $ | (5,994 | ) | ||||||||||
31-Dec-12 | |||||||||||||||||||||||||
Less than Twelve Months | Twelve Months or Greater | Total | |||||||||||||||||||||||
Gross | Gross | Gross | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
(Dollar amounts in thousands) | Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. government agency securities | $ | 9,938 | $ | (91 | ) | $ | - | $ | - | $ | 9,938 | $ | (91 | ) | |||||||||||
Obligations of states and political subdivisions | 9,240 | (104 | ) | - | - | 9,240 | (104 | ) | |||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 12,353 | (65 | ) | - | - | 12,353 | (65 | ) | |||||||||||||||||
Total | $ | 31,531 | $ | (260 | ) | $ | - | $ | - | $ | 31,531 | $ | (260 | ) |
Note_4_Loans_and_Related_Allow1
Note 4 - Loans and Related Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||
Commercial and industrial | $ | 54,498 | $ | 62,188 | |||||||||||||||||||||||||
Real estate - construction | 25,601 | 22,522 | |||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 210,310 | 203,872 | |||||||||||||||||||||||||||
Commercial | 141,171 | 115,734 | |||||||||||||||||||||||||||
Consumer installment | 4,145 | 4,117 | |||||||||||||||||||||||||||
435,725 | 408,433 | ||||||||||||||||||||||||||||
Less allowance for loan and lease loss | (7,046 | ) | (7,779 | ) | |||||||||||||||||||||||||
Net loans | $ | 428,679 | $ | 400,654 | |||||||||||||||||||||||||
Schedule of Financing Receivable by Segment [Table Text Block] | ' | ||||||||||||||||||||||||||||
Real Estate- Mortgage | |||||||||||||||||||||||||||||
31-Dec-13 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,891 | $ | 4,011 | $ | 5,882 | $ | 7,175 | $ | 6 | $ | 18,965 | |||||||||||||||||
Collectively evaluated for impairment | 52,607 | 21,590 | 204,428 | 133,996 | 4,139 | 416,760 | |||||||||||||||||||||||
Total loans | $ | 54,498 | $ | 25,601 | $ | 210,310 | $ | 141,171 | $ | 4,145 | $ | 435,725 | |||||||||||||||||
Real estate- Mortgage | |||||||||||||||||||||||||||||
31-Dec-12 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,592 | $ | 3,993 | $ | 5,761 | $ | 6,914 | $ | 28 | $ | 21,288 | |||||||||||||||||
Collectively evaluated for impairment | 57,596 | 18,529 | 198,111 | 108,820 | 4,089 | 387,145 | |||||||||||||||||||||||
Total loans | $ | 62,188 | $ | 22,522 | $ | 203,872 | $ | 115,734 | $ | 4,117 | $ | 408,433 | |||||||||||||||||
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block] | ' | ||||||||||||||||||||||||||||
Real Estate- Mortgage | |||||||||||||||||||||||||||||
31-Dec-13 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Allowance for loan and lease loss: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 179 | $ | 210 | $ | 855 | $ | 563 | $ | - | $ | 1,807 | |||||||||||||||||
Collectively evaluated for impairment | 435 | 366 | 2,809 | 1,607 | 22 | 5,239 | |||||||||||||||||||||||
Total ending allowance balance | $ | 614 | $ | 576 | $ | 3,664 | $ | 2,170 | $ | 22 | $ | 7,046 | |||||||||||||||||
Real Estate- Mortgage | |||||||||||||||||||||||||||||
31-Dec-12 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Allowance for loan and lease loss: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,189 | $ | 933 | $ | 600 | $ | 960 | $ | 6 | $ | 3,688 | |||||||||||||||||
Collectively evaluated for impairment | 543 | 190 | 2,272 | 1,031 | 55 | 4,091 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,732 | $ | 1,123 | $ | 2,872 | $ | 1,991 | $ | 61 | $ | 7,779 | |||||||||||||||||
Commercial and industrial | Real estate- construction | Real estate- residential mortgage | Real estate- commercial mortgage | Consumer installment | Total | ||||||||||||||||||||||||
ALLL balance at December 31, 2012 | $ | 1,732 | $ | 1,123 | $ | 2,872 | $ | 1,991 | $ | 61 | $ | 7,779 | |||||||||||||||||
Charge-offs | (419 | ) | (191 | ) | (675 | ) | - | (45 | ) | (1,330 | ) | ||||||||||||||||||
Recoveries | 191 | 33 | 107 | 46 | 24 | 401 | |||||||||||||||||||||||
Provision | (890 | ) | (389 | ) | 1,360 | 133 | (18 | ) | 196 | ||||||||||||||||||||
ALLL balance at December 31, 2013 | $ | 614 | $ | 576 | $ | 3,664 | $ | 2,170 | $ | 22 | $ | 7,046 | |||||||||||||||||
Commercial and industrial | Real estate- construction | Real estate- residential mortgage | Real estate- commercial mortgage | Consumer installment | Total | ||||||||||||||||||||||||
ALLL balance at December 31, 2011 | $ | 1,296 | $ | 438 | $ | 3,731 | $ | 1,306 | $ | 48 | $ | 6,819 | |||||||||||||||||
Charge-offs | (230 | ) | (135 | ) | (785 | ) | (123 | ) | (64 | ) | (1,337 | ) | |||||||||||||||||
Recoveries | 71 | - | 31 | - | 27 | 129 | |||||||||||||||||||||||
Provision | 595 | 820 | (105 | ) | 808 | 50 | 2,168 | ||||||||||||||||||||||
ALLL balance at December 31, 2012 | $ | 1,732 | $ | 1,123 | $ | 2,872 | $ | 1,991 | $ | 61 | $ | 7,779 | |||||||||||||||||
Commercial and industrial | Real estate- construction | Real estate- residential mortgage | Real estate- commercial mortgage | Consumer installment | Total | ||||||||||||||||||||||||
ALLL balance at December 31, 2010 | $ | 1,234 | $ | 356 | $ | 3,392 | $ | 1,143 | $ | 96 | $ | 6,221 | |||||||||||||||||
Charge-offs | (568 | ) | (6 | ) | (1,862 | ) | (265 | ) | (11 | ) | (2,712 | ) | |||||||||||||||||
Recoveries | 76 | - | 122 | - | 27 | 225 | |||||||||||||||||||||||
Provision | 554 | 88 | 2,079 | 428 | (64 | ) | 3,085 | ||||||||||||||||||||||
ALLL balance at December 31, 2011 | $ | 1,296 | $ | 438 | $ | 3,731 | $ | 1,306 | $ | 48 | $ | 6,819 | |||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
Unpaid | |||||||||||||||||||||||||||||
Recorded | Principal | Related | |||||||||||||||||||||||||||
Investment | Balance | Allowance | |||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,357 | $ | 1,357 | $ | - | |||||||||||||||||||||||
Real estate - construction | 124 | 124 | - | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 2,704 | 2,892 | - | ||||||||||||||||||||||||||
Commercial | 5,093 | 5,093 | - | ||||||||||||||||||||||||||
Consumer installment | 6 | 6 | - | ||||||||||||||||||||||||||
Total | $ | 9,284 | $ | 9,472 | $ | - | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 534 | $ | 534 | $ | 179 | |||||||||||||||||||||||
Real estate - construction | 3,887 | 3,887 | 210 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 3,178 | 3,217 | 855 | ||||||||||||||||||||||||||
Commercial | 2,082 | 2,082 | 563 | ||||||||||||||||||||||||||
Total | $ | 9,681 | $ | 9,720 | $ | 1,807 | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,891 | $ | 1,891 | $ | 179 | |||||||||||||||||||||||
Real estate - construction | 4,011 | 4,011 | 210 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,882 | 6,109 | 855 | ||||||||||||||||||||||||||
Commercial | 7,175 | 7,175 | 563 | ||||||||||||||||||||||||||
Consumer installment | 6 | 6 | - | ||||||||||||||||||||||||||
Total | $ | 18,965 | $ | 19,192 | $ | 1,807 | |||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
Unpaid | |||||||||||||||||||||||||||||
Recorded | Principal | Related | |||||||||||||||||||||||||||
Investment | Balance | Allowance | |||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,230 | $ | 1,229 | $ | - | |||||||||||||||||||||||
Real estate - construction | 308 | 308 | - | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 2,716 | 2,729 | - | ||||||||||||||||||||||||||
Commercial | 4,143 | 4,164 | - | ||||||||||||||||||||||||||
Consumer installment | 11 | 11 | - | ||||||||||||||||||||||||||
Total | $ | 8,408 | $ | 8,441 | $ | - | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 3,362 | $ | 3,367 | $ | 1,189 | |||||||||||||||||||||||
Real estate - construction | 3,685 | 3,685 | 933 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 3,045 | 3,054 | 600 | ||||||||||||||||||||||||||
Commercial | 2,771 | 2,776 | 960 | ||||||||||||||||||||||||||
Consumer installment | 17 | 17 | 6 | ||||||||||||||||||||||||||
Total | $ | 12,880 | $ | 12,899 | $ | 3,688 | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 4,592 | $ | 4,596 | $ | 1,189 | |||||||||||||||||||||||
Real estate - construction | 3,993 | 3,993 | 933 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,761 | 5,783 | 600 | ||||||||||||||||||||||||||
Commercial | 6,914 | 6,940 | 960 | ||||||||||||||||||||||||||
Consumer installment | 28 | 28 | 6 | ||||||||||||||||||||||||||
Total | $ | 21,288 | $ | 21,340 | $ | 3,688 | |||||||||||||||||||||||
Schedule of Additional Information Related to Impaired Loans [Table Text Block] | ' | ||||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | As of December 31, 2011 | |||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 2,187 | $ | 119 | $ | 2,776 | $ | 348 | $ | 1,637 | $ | 58 | |||||||||||||||||
Real estate - construction | 3,743 | 183 | 2,798 | 156 | 4,521 | 216 | |||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,380 | 293 | 4,263 | 338 | 3,188 | 157 | |||||||||||||||||||||||
Commercial | 6,500 | 493 | 4,717 | 543 | 5,083 | 97 | |||||||||||||||||||||||
Consumer installment | 13 | 1 | 27 | 3 | 24 | 2 | |||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding | ||||||||||||||||||||||||||||
Rate | Recorded | ||||||||||||||||||||||||||||
Troubled Debt Restructurings | Forgiveness | Other | Total | Investment | |||||||||||||||||||||||||
Commercial and industrial | 6 | 1 | 7 | $ | 1,264 | ||||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | 7 | - | 7 | 784 | |||||||||||||||||||||||||
Commercial | 2 | - | 2 | 834 | |||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding | ||||||||||||||||||||||||||||
Rate | Recorded | ||||||||||||||||||||||||||||
Troubled Debt Restructurings | Forgiveness | Other | Total | Investment | |||||||||||||||||||||||||
Commercial and industrial | 1 | 12 | 13 | $ | 489 | ||||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | 2 | 7 | 9 | 921 | |||||||||||||||||||||||||
Commercial | - | 1 | 1 | 156 | |||||||||||||||||||||||||
Consumer Installment | - | 2 | 2 | 11 | |||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding | ||||||||||||||||||||||||||||
Rate | Recorded | ||||||||||||||||||||||||||||
Troubled Debt Restructurings | Forgiveness | Other | Total | Investment | |||||||||||||||||||||||||
Commercial and industrial | - | 8 | 8 | $ | 586 | ||||||||||||||||||||||||
Real estate- construction: | - | 2 | 2 | 3,883 | |||||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | - | 10 | 10 | 1,639 | |||||||||||||||||||||||||
Commercial | - | 2 | 2 | 1,625 | |||||||||||||||||||||||||
Consumer Installment | - | 2 | 2 | 24 | |||||||||||||||||||||||||
Troubled Debt Restructurings That Subsequently Defaulted [Table Text Block] | ' | ||||||||||||||||||||||||||||
Troubled Debt Restructurings subsequently defaulted | Number of | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | ||||||||||||||||||||||||||||
Commercial and industrial | 5 | $ | 574 | ||||||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Commercial | 1 | 190 | |||||||||||||||||||||||||||
Troubled Debt Restructurings subsequently defaulted | Number of | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | ||||||||||||||||||||||||||||
Commercial and industrial | 6 | $ | 256 | ||||||||||||||||||||||||||
Real estate- construction: | 1 | 3,622 | |||||||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | 2 | 89 | |||||||||||||||||||||||||||
Consumer Installment | 1 | 5 | |||||||||||||||||||||||||||
Troubled Debt Restructurings subsequently defaulted | Number of | Recorded | |||||||||||||||||||||||||||
Contracts | Investment | ||||||||||||||||||||||||||||
Commercial and industrial | 3 | $ | 134 | ||||||||||||||||||||||||||
Consumer Installment | 2 | 28 | |||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||||||||
Special | Total | ||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loans | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 52,078 | $ | 772 | $ | 1,605 | $ | 43 | $ | 54,498 | |||||||||||||||||||
Real estate - construction | 24,052 | 907 | 642 | - | 25,601 | ||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 198,479 | 774 | 11,057 | - | 210,310 | ||||||||||||||||||||||||
Commercial | 132,931 | 2,232 | 6,008 | - | 141,171 | ||||||||||||||||||||||||
Consumer installment | 4,129 | - | 16 | - | 4,145 | ||||||||||||||||||||||||
Total | $ | 411,669 | $ | 4,685 | $ | 19,328 | $ | 43 | $ | 435,725 | |||||||||||||||||||
Special | Total | ||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loans | |||||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 59,390 | $ | 678 | $ | 2,061 | $ | 59 | $ | 62,188 | |||||||||||||||||||
Real estate - construction | 17,601 | - | 4,921 | - | 22,522 | ||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 190,967 | 758 | 12,147 | - | 203,872 | ||||||||||||||||||||||||
Commercial | 106,509 | 1,928 | 7,297 | - | 115,734 | ||||||||||||||||||||||||
Consumer installment | 4,084 | - | 33 | - | 4,117 | ||||||||||||||||||||||||
Total | $ | 378,551 | $ | 3,364 | $ | 26,459 | $ | 59 | $ | 408,433 | |||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
Still Accruing | |||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days+ | Total | Non- | Total | ||||||||||||||||||||||||
Current | Past Due | Past Due | Past Due | Past Due | Accrual | Loans | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 53,366 | $ | 521 | $ | 359 | $ | 38 | $ | 918 | $ | 214 | $ | 54,498 | |||||||||||||||
Real estate - construction | 24,945 | 17 | 639 | - | 656 | - | 25,601 | ||||||||||||||||||||||
Real estate - mortgage: | - | ||||||||||||||||||||||||||||
Residential | 200,041 | 2,079 | 481 | 143 | 2,703 | 7,566 | 210,310 | ||||||||||||||||||||||
Commercial | 139,730 | 598 | 100 | - | 698 | 743 | 141,171 | ||||||||||||||||||||||
Consumer installment | 4,083 | 38 | 16 | - | 54 | 8 | 4,145 | ||||||||||||||||||||||
Total | $ | 422,165 | $ | 3,253 | $ | 1,595 | $ | 181 | $ | 5,029 | $ | 8,531 | $ | 435,725 | |||||||||||||||
Still Accruing | |||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days+ | Total | Non- | Total | ||||||||||||||||||||||||
Current | Past Due | Past Due | Past Due | Past Due | Accrual | Loans | |||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 60,428 | $ | 441 | $ | 63 | $ | 348 | $ | 852 | $ | 908 | $ | 62,188 | |||||||||||||||
Real estate - construction | 22,158 | - | - | - | - | 364 | 22,522 | ||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 191,349 | 2,614 | 1,401 | 90 | 4,105 | 8,418 | 203,872 | ||||||||||||||||||||||
Commercial | 113,023 | 509 | 97 | - | 606 | 2,105 | 115,734 | ||||||||||||||||||||||
Consumer installment | 4,074 | 25 | - | - | 25 | 18 | 4,117 | ||||||||||||||||||||||
Total | $ | 391,032 | $ | 3,589 | $ | 1,561 | $ | 438 | $ | 5,588 | $ | 11,813 | $ | 408,433 |
Note_5_Premises_and_Equipment_
Note 5 - Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
(Dollar amounts in thousands) | 2013 | 2012 | |||||||
Land and land improvements | $ | 1,943 | $ | 1,885 | |||||
Building and leasehold improvements | 10,832 | 9,427 | |||||||
Furniture, fixtures, and equipment | 4,036 | 3,665 | |||||||
16,811 | 14,977 | ||||||||
Less accumulated depreciation and amortization | 6,983 | 6,307 | |||||||
Total | $ | 9,828 | $ | 8,670 |
Note_6_Goodwill_and_Intangible1
Note 6 - Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||
2014 | $ | 40,000 | |||
2015 | 40,000 | ||||
2016 | 40,000 | ||||
2017 | 36,000 | ||||
Total | $ | 156,000 |
Note_7_Other_Assets_Tables
Note 7 - Other Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||
Schedule of Other Assets [Table Text Block] | ' | ||||||||
(Dollar amounts in thousands) | 2013 | 2012 | |||||||
FHLB stock | $ | 1,887 | $ | 1,887 | |||||
Accrued interest on investment securities | 1,029 | 1,031 | |||||||
Accrued interest on loans | 1,106 | 1,132 | |||||||
Deferred tax asset, net | 3,868 | 181 | |||||||
Prepaid federal deposit insurance | - | 513 | |||||||
Other real estate owned | 2,698 | 1,846 | |||||||
Other | 1,128 | 1,459 | |||||||
Total | $ | 11,716 | $ | 8,051 |
Note_8_Deposits_Tables
Note 8 - Deposits (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Schedule of Maturities of Time Deposits of $100,000 or More [Table Text Block] | ' | ||||||||
(Dollar amounts in thousands) | Amount | Percent of Total | |||||||
Within three months | $ | 6,427 | 8.23 | % | |||||
Beyond three but within six months | 8,544 | 10.94 | |||||||
Beyond six but within twelve months | 16,446 | 21.06 | |||||||
Beyond one year | 46,668 | 59.77 | |||||||
Total | $ | 78,085 | 100 | % |
Note_9_ShortTerm_Borrowings_Ta
Note 9 - Short-Term Borrowings (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||
Schedule of Short-term Debt [Table Text Block] | ' | ||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||
Balance at year-end | $ | 10,809 | $ | 6,538 | $ | 7,392 | |||||||
Average balance outstanding | 8,806 | 7,005 | 7,276 | ||||||||||
Maximum month-end balance | 17,351 | 7,458 | 7,552 | ||||||||||
Weighted-average rate at year-end | 1.44 | % | 2.97 | % | 3.14 | % | |||||||
Weighted-average rate during the year | 3.15 | % | 3.73 | % | 3.23 | % |
Note_10_Other_Borrowings_Table
Note 10 - Other Borrowings (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Other Borrowings [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | Maturity range | Weighted- | Stated interest | ||||||||||||||||||||||||||
average | rate range | ||||||||||||||||||||||||||||
Description | from | to | interest rate | from | to | 2013 | 2012 | ||||||||||||||||||||||
Fixed rate amortizing | 3/1/14 | 10/1/28 | 4.02 | % | 2.78 | % | 4.48 | % | $ | 3,361 | $ | 4,722 | |||||||||||||||||
Junior subordinated debt | 12/21/37 | 12/21/37 | 1.97 | 1.91 | 1.98 | 8,248 | 8,248 | ||||||||||||||||||||||
Total | $ | 11,609 | $ | 12,970 | |||||||||||||||||||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||||||||||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||||||||||
Weighted- | |||||||||||||||||||||||||||||
Year Ending December 31, | Amount | Average Rate | |||||||||||||||||||||||||||
2014 | $ | 984 | 3.99 | % | |||||||||||||||||||||||||
2015 | 685 | 4.01 | % | ||||||||||||||||||||||||||
2016 | 502 | 4 | % | ||||||||||||||||||||||||||
2017 | 373 | 4 | % | ||||||||||||||||||||||||||
2018 | 252 | 4.02 | % | ||||||||||||||||||||||||||
Beyond 2018 | 8,813 | 2.1 | % | ||||||||||||||||||||||||||
Total | $ | 11,609 | 2.52 | % |
Note_11_Other_Liabilities_Tabl
Note 11 - Other Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Other Liabilities and Financial Instruments Subject to Mandatory Redemption [Abstract] | ' | ||||||||
Schedule of Other Liabilities [Table Text Block] | ' | ||||||||
2013 | 2012 | ||||||||
Accrued interest payable | $ | 364 | $ | 492 | |||||
Other | 1,999 | 1,516 | |||||||
Total | $ | 2,363 | $ | 2,008 |
Note_12_Income_Taxes_Tables
Note 12 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||||||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
Current payable | $ | 1,556 | $ | 1,660 | $ | 693 | |||||||||||||||||||
Deferred | 423 | 2 | (97 | ) | |||||||||||||||||||||
Total provision | $ | 1,979 | $ | 1,662 | $ | 596 | |||||||||||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||||||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | |||||||||||||||||||||||
Deferred tax assets: | |||||||||||||||||||||||||
Allowance for loan and lease loss | $ | 2,396 | $ | 2,645 | |||||||||||||||||||||
Net unrealized loss on securities | 1,152 | - | |||||||||||||||||||||||
Supplemental retirement plan | 247 | 218 | |||||||||||||||||||||||
Investment security basis adjustment | 66 | 66 | |||||||||||||||||||||||
Nonaccrual interest income | 472 | 508 | |||||||||||||||||||||||
Deferred origination fees, net | 171 | 189 | |||||||||||||||||||||||
OREO adjustments | 107 | 116 | |||||||||||||||||||||||
Accrued compensation | 197 | - | |||||||||||||||||||||||
Net operating losses | - | 86 | |||||||||||||||||||||||
Other | 19 | 47 | |||||||||||||||||||||||
Gross deferred tax assets | 4,827 | 3,875 | |||||||||||||||||||||||
Deferred tax liabilities: | |||||||||||||||||||||||||
Premises and equipment | 503 | 434 | |||||||||||||||||||||||
Net unrealized gain on securities | - | 2,777 | |||||||||||||||||||||||
FHLB stock dividends | 225 | 225 | |||||||||||||||||||||||
Intangibles | 304 | 256 | |||||||||||||||||||||||
Other | 107 | 2 | |||||||||||||||||||||||
Gross deferred tax liabilities | 1,139 | 3,694 | |||||||||||||||||||||||
Net deferred tax assets | $ | 3,688 | $ | 181 | |||||||||||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||||||||||||||
% of | % of | % of | |||||||||||||||||||||||
Pretax | Pretax | Pretax | |||||||||||||||||||||||
Amount | Income | Amount | Income | Amount | Income | ||||||||||||||||||||
Provision at statutory rate | $ | 3,062 | 34 | % | $ | 2,700 | 34 | % | $ | 1,606 | 34 | % | |||||||||||||
Tax-free income | (1,138 | ) | (12.6 | ) | (1,095 | ) | (13.8 | ) | (1,071 | ) | (22.7 | ) | |||||||||||||
Nondeductible interest expense | 45 | 0.5 | 48 | 0.6 | 61 | 1.3 | |||||||||||||||||||
Other | 10 | 0.1 | 9 | 0.1 | - | - | |||||||||||||||||||
Actual tax expense and effective rate | $ | 1,979 | 22 | % | $ | 1,662 | 20.9 | % | $ | 596 | 12.60% |
Note_13_Employee_Benefits_Tabl
Note 13 - Employee Benefits (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] | ' | ||||||||||||||||||||||||
Projected | |||||||||||||||||||||||||
Payments | |||||||||||||||||||||||||
2014 | $ | 34,000 | |||||||||||||||||||||||
2015 | 34,000 | ||||||||||||||||||||||||
2016 | 29,000 | ||||||||||||||||||||||||
2017 | 23,000 | ||||||||||||||||||||||||
2018 | 18,000 | ||||||||||||||||||||||||
Thereafter | 23,000 | ||||||||||||||||||||||||
Total | $ | 161,000 | |||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||||||||||
Weighted- | Weighted- | ||||||||||||||||||||||||
average | average | ||||||||||||||||||||||||
Exercise | Exercise | ||||||||||||||||||||||||
2013 | Price | 2012 | Price | ||||||||||||||||||||||
Outstanding, January 1 | $ | 79,693 | $ | 27.25 | $ | 88,774 | $ | 26.81 | |||||||||||||||||
Granted | - | - | - | - | |||||||||||||||||||||
Exercised | (21,112 | ) | $ | 24.11 | - | - | |||||||||||||||||||
Forfeited | - | - | (9,081 | ) | 22.94 | ||||||||||||||||||||
Outstanding, December 31 | $ | 58,581 | $ | 28.38 | $ | 79,693 | $ | 27.25 | |||||||||||||||||
Exercisable, December 31 | $ | 58,581 | $ | 28.38 | $ | 79,693 | $ | 27.25 | |||||||||||||||||
Schedule of Other Share-based Compensation, Activity [Table Text Block] | ' | ||||||||||||||||||||||||
Outstanding | Exercisable | ||||||||||||||||||||||||
Contractual | Average | Average | |||||||||||||||||||||||
Exercise | Average | Exercise | Exercise | ||||||||||||||||||||||
Grant Date | Price | Shares | Life | Price | Shares | Price | |||||||||||||||||||
12-May-04 | 27.35 | 907 | 0.36 | 27.35 | 907 | 27.35 | |||||||||||||||||||
13-Dec-04 | 30.45 | 11,223 | 0.95 | 30.45 | 11,223 | 30.45 | |||||||||||||||||||
14-Dec-05 | 36.73 | 7,163 | 1.95 | 36.73 | 7,163 | 36.73 | |||||||||||||||||||
10-Dec-06 | 40.24 | 3,150 | 2.94 | 40.24 | 3,150 | 40.24 | |||||||||||||||||||
19-Apr-07 | 37.33 | 3,639 | 3.29 | 37.33 | 3,639 | 37.73 | |||||||||||||||||||
16-May-07 | 37.48 | 1,337 | 3.37 | 37.48 | 1,337 | 37.48 | |||||||||||||||||||
10-Dec-07 | 37 | 2,450 | 3.94 | 37 | 2,450 | 37 | |||||||||||||||||||
2-Jan-08 | 36.25 | 1,337 | 4 | 36.25 | 1,337 | 36.25 | |||||||||||||||||||
10-Nov-08 | 23 | 18,500 | 4.86 | 23 | 18,500 | 23 | |||||||||||||||||||
9-May-11 | 17.55 | 8,875 | 7.35 | 17.55 | 8,875 | 17.55 | |||||||||||||||||||
58,581 | 58,581 |
Note_14_Commitments_Tables
Note 14 - Commitments (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Schedule of Commitments [Table Text Block] | ' | ||||||||
(Dollar amounts in thousands) | 2013 | 2012 | |||||||
Commitments to extend credit | $ | 120,861 | $ | 91,854 | |||||
Standby letters of credit | 4,809 | 281 | |||||||
Total | $ | 125,670 | $ | 92,135 | |||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | ||||||||
2014 | 221 | ||||||||
2015 | 226 | ||||||||
2016 | 230 | ||||||||
2017 | 238 | ||||||||
2018 | 240 | ||||||||
Thereafter | 203 | ||||||||
$ | 1,358 |
Note_16_Regulatory_Capital_Tab
Note 16 - Regulatory Capital (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | ' | ||||||||||||||||||||||||
Middlefield Banc Corp. | The Middlefield Banking Co. | Emerald Bank | |||||||||||||||||||||||
(Dollar amounts in thousands) | 31-Dec-13 | 31-Dec-13 | 31-Dec-13 | ||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Total Capital (to Risk-weighted Assets) | |||||||||||||||||||||||||
Actual | $ | 64,220 | 14.06 | % | $ | 53,194 | 13.77 | % | $ | 9,482 | 13.76 | % | |||||||||||||
For Capital Adequacy Purposes | 36,541 | 8 | 30,906 | 8 | 5,514 | 8 | |||||||||||||||||||
To Be Well Capitalized | 45,676 | 10 | 38,632 | 10 | 6,893 | 10 | |||||||||||||||||||
Tier I Capital (to Risk-weighted Assets) | |||||||||||||||||||||||||
Actual | $ | 58,494 | 12.81 | % | $ | 48,364 | 12.52 | % | $ | 8,605 | 12.48 | % | |||||||||||||
For Capital Adequacy Purposes | 18,270 | 4 | 15,453 | 4 | 2,757 | 4 | |||||||||||||||||||
To Be Well Capitalized | 27,406 | 6 | 23,179 | 6 | 4,136 | 6 | |||||||||||||||||||
Tier I Capital (to Average Assets) | |||||||||||||||||||||||||
Actual | $ | 58,494 | 8.97 | % | $ | 48,364 | 8.51 | % | $ | 8,605 | 10.92 | % | |||||||||||||
For Capital Adequacy Purposes | 26,093 | 4 | 22,735 | 4 | 3,152 | 4 | |||||||||||||||||||
To Be Well Capitalized | 32,617 | 5 | 28,419 | 5 | 3,940 | 5 | |||||||||||||||||||
Middlefield Banc Corp. | The Middlefield Banking Co. | Emerald Bank | |||||||||||||||||||||||
31-Dec-12 | 31-Dec-12 | 31-Dec-12 | |||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Total Capital (to Risk-weighted Assets) | |||||||||||||||||||||||||
Actual | $ | 57,784 | 13.86 | % | $ | 47,887 | 13.29 | % | $ | 8,440 | 15.45 | % | |||||||||||||
For Capital Adequacy Purposes | 33,344 | 8 | 28,822 | 8 | 4,370 | 8 | |||||||||||||||||||
To Be Well Capitalized | 41,680 | 10 | 36,027 | 10 | 5,463 | 10 | |||||||||||||||||||
Tier I Capital (to Risk-weighted Assets) | |||||||||||||||||||||||||
Actual | $ | 52,543 | 12.61 | % | $ | 43,371 | 12.04 | % | $ | 7,737 | 14.16 | % | |||||||||||||
For Capital Adequacy Purposes | 16,672 | 4 | 14,411 | 4 | 2,185 | 4 | |||||||||||||||||||
To Be Well Capitalized | 25,008 | 6 | 21,616 | 6 | 3,278 | 6 | |||||||||||||||||||
Tier I Capital (to Average Assets) | |||||||||||||||||||||||||
Actual | $ | 52,543 | 7.88 | % | $ | 43,371 | 7.32 | % | $ | 7,737 | 10.61 | % | |||||||||||||
For Capital Adequacy Purposes | 26,675 | 4 | 23,684 | 4 | 2,916 | 4 | |||||||||||||||||||
To Be Well Capitalized | 33,344 | 5 | 29,605 | 5 | 3,646 | 5 |
Note_17_Fair_Value_Disclosure_1
Note 17 - Fair Value Disclosure Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
(Dollar amounts in thousands) | Level I | Level II | Level III | Total | |||||||||||||||||
Assets measured on a recurring basis: | |||||||||||||||||||||
U.S. government agency securities | $ | - | $ | 25,763 | $ | - | $ | 25,763 | |||||||||||||
Obligations of states and political subdivisions | - | 88,614 | - | 88,614 | |||||||||||||||||
Mortgage-backed securities in government- sponsored entities | - | 38,323 | - | 38,323 | |||||||||||||||||
Private-label mortgage-backed securities | - | 3,693 | - | 3,693 | |||||||||||||||||
Total debt securities | - | 156,393 | - | 156,393 | |||||||||||||||||
Equity securities in financial institutions | 5 | 745 | - | 750 | |||||||||||||||||
Total | $ | 5 | $ | 157,138 | $ | - | $ | 157,143 | |||||||||||||
31-Dec-12 | |||||||||||||||||||||
Level I | Level II | Level III | Total | ||||||||||||||||||
Assets measured on a recurring basis: | |||||||||||||||||||||
U.S. government agency securities | $ | - | $ | 24,960 | $ | - | $ | 24,960 | |||||||||||||
Obligations of states and political subdivisions | - | 92,596 | - | 92,596 | |||||||||||||||||
Mortgage-backed securities in government- sponsored entities | - | 71,102 | - | 71,102 | |||||||||||||||||
Private-label mortgage-backed securities | - | 5,064 | - | 5,064 | |||||||||||||||||
Total debt securities | - | 193,722 | - | 193,722 | |||||||||||||||||
Equity securities in financial institutions | 5 | 745 | - | 750 | |||||||||||||||||
Total | $ | 5 | $ | 194,467 | $ | - | $ | 194,472 | |||||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | ' | ||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
(Dollar amounts in thousands) | Level I | Level II | Level III | Total | |||||||||||||||||
Assets measured on a non-recurring basis: | |||||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 17,158 | $ | 17,158 | |||||||||||||
Other real estate owned | - | - | 2,698 | 2,698 | |||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Level I | Level II | Level III | Total | ||||||||||||||||||
Assets measured on a non-recurring basis: | |||||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 17,600 | $ | 17,600 | |||||||||||||
Other real estate owned | - | - | 1,846 | 1,846 | |||||||||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||
Quantitative Information about Level III Fair Value Measurements | |||||||||||||||||||||
(unaudited, in thousands) | Fair Value Estimate | Valuation | Unobservable | Range (Weighted Average) | |||||||||||||||||
Techniquest | Input | ||||||||||||||||||||
31-Dec-13 | 31-Dec-13 | 31-Dec-12 | |||||||||||||||||||
Impaired loans | $ | 17,158 | $ | 17,600 | Appraisal of | Appraisal | 0.00% | to | -68.00% | -30.00% | |||||||||||
collateral (1) | adjustments (2) | ||||||||||||||||||||
Liquidation | 0.00% | to | -45.80% | -2.10% | |||||||||||||||||
expenses (2) | |||||||||||||||||||||
Other real estate owned | $ | 2,698 | $ | 1,846 | Appraisal of | Appraisal | 0% | to | -10.00% | -7.50% | |||||||||||
collateral (1), (3) | adjustments (2) | ||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Carrying | Total | ||||||||||||||||||||
Value | Level I | Level II | Level III | Fair Value | |||||||||||||||||
(in thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 26,193 | $ | 26,193 | $ | - | $ | - | $ | 26,193 | |||||||||||
Investment securities | |||||||||||||||||||||
Available for sale | 157,143 | 5 | 157,138 | - | 157,143 | ||||||||||||||||
Net loans | 428,679 | - | - | 430,502 | 430,502 | ||||||||||||||||
Bank-owned life insurance | 8,816 | 8,816 | - | - | 8,816 | ||||||||||||||||
Federal Home Loan Bank stock | 1,887 | 1,887 | - | - | 1,887 | ||||||||||||||||
Accrued interest receivable | 2,135 | 2,135 | - | - | 2,135 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 568,836 | $ | 394,422 | $ | - | $ | 175,854 | $ | 570,276 | |||||||||||
Short-term borrowings | 10,809 | 10,809 | - | - | 10,809 | ||||||||||||||||
Other borrowings | 11,609 | - | 11,787 | 11,787 | |||||||||||||||||
Accrued interest payable | 364 | 364 | - | - | 364 | ||||||||||||||||
31-Dec-12 | |||||||||||||||||||||
Carrying | Total | ||||||||||||||||||||
Value | Level I | Level II | Level III | Fair Value | |||||||||||||||||
(in thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 45,346 | $ | 45,346 | $ | - | $ | - | $ | 45,346 | |||||||||||
Investment securities | |||||||||||||||||||||
Available for sale | 194,472 | 5 | 194,467 | - | 194,472 | ||||||||||||||||
Net loans | 400,654 | - | - | 390,206 | 390,206 | ||||||||||||||||
Bank-owned life insurance | 8,536 | 8,536 | - | - | 8,536 | ||||||||||||||||
Federal Home Loan Bank stock | 1,887 | 1,887 | - | - | 1,887 | ||||||||||||||||
Accrued interest receivable | 2,163 | 2,163 | - | - | 2,163 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 593,335 | $ | 396,582 | $ | - | $ | 196,122 | $ | 592,704 | |||||||||||
Short-term borrowings | 6,538 | 6,538 | - | - | 6,538 | ||||||||||||||||
Other borrowings | 12,970 | - | - | 13,337 | 13,337 | ||||||||||||||||
Accrued interest payable | 492 | 492 | - | - | 492 |
Note_18_Accumulated_Other_Comp1
Note 18 - Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Disclosure Text Block [Abstract] | ' | |||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||
Unrealized gains on available for sale securities (a) | ||||||
Balance as of December 31, 2012 | $ | 5,391 | ||||
Other comprehensive loss before reclassification | (7,621 | ) | ||||
Amount reclassified from accumulated other comprehensive loss | (7 | ) | ||||
Period change | (7,628 | ) | ||||
Balance at December 31, 2013 | $ | (2,237 | ) | |||
(a) | All amounts are net of tax. Amounts in parentheses indicate debits. | |||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||
Amount Reclassified from | Affected Line Item in | |||||
Accumulated Other Comprehensive Income (Loss) (a) | the Statement Where | |||||
For | Net Income is | |||||
December 31, | ||||||
Details about other comprehensive income | 2013 | Presented | ||||
Unrealized gains (losses) on available for sale securities | ||||||
$ | (11 | ) | Investment securities gains, net | |||
4 | Income taxes | |||||
$ | (7 | ) | Net of tax | |||
(a) | Amounts in parentheses indicate debits to net income |
Note_19_Parent_Company_Tables
Note 19 - Parent Company (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Condensed Balance Sheet [Table Text Block] | ' | ||||||||||||
(Dollar amounts in thousands) | December 31, | ||||||||||||
2013 | 2012 | ||||||||||||
ASSETS | |||||||||||||
Cash and due from banks | $ | 797 | $ | 1,740 | |||||||||
Investment securities available for sale | 750 | 751 | |||||||||||
Investment in non-bank subsidiary | 2,560 | 2,664 | |||||||||||
Investment in subsidiary banks | 59,951 | 62,002 | |||||||||||
Other assets | 1,615 | 1,453 | |||||||||||
TOTAL ASSETS | $ | 65,673 | $ | 68,610 | |||||||||
LIABILITIES | |||||||||||||
Trust preferred securities | $ | 8,248 | $ | 8,248 | |||||||||
Short-term borrowings | 3,895 | 4,896 | |||||||||||
Other liabilities | 57 | 29 | |||||||||||
TOTAL LIABILITIES | 12,200 | 13,173 | |||||||||||
STOCKHOLDERS' EQUITY | 53,473 | 55,437 | |||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 65,673 | $ | 68,610 | |||||||||
Condensed Income Statement [Table Text Block] | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||
INCOME | |||||||||||||
Dividends from subsidiary bank | $ | 2,198 | $ | 2,327 | $ | 2,403 | |||||||
Other | 5 | 8 | (177 | ) | |||||||||
Total income | 2,203 | 2,335 | 2,226 | ||||||||||
EXPENSES | |||||||||||||
Interest expense | 361 | 417 | 772 | ||||||||||
Other | 475 | 594 | 370 | ||||||||||
Total expenses | 836 | 1,011 | 1,142 | ||||||||||
Income before income tax benefit | 1,367 | 1,324 | 1,084 | ||||||||||
Income tax benefit | (283 | ) | (342 | ) | (449 | ) | |||||||
Income before equity in undistributed net income of subsidiaries | 1,650 | 1,666 | 1,533 | ||||||||||
Equity in undistributed net income of subsidiaries | 5,378 | 4,615 | 2,597 | ||||||||||
NET INCOME | $ | 7,028 | $ | 6,281 | $ | 4,130 | |||||||
Comprehensive (Loss) Income | $ | (600 | ) | $ | 7,131 | $ | 8,184 | ||||||
Condensed Cash Flow Statement [Table Text Block] | ' | ||||||||||||
Year Ended December 31, | |||||||||||||
(Dollar amounts in thousands) | 2013 | 2012 | 2011 | ||||||||||
OPERATING ACTIVITIES | |||||||||||||
Net income | $ | 7,028 | $ | 6,281 | $ | 4,130 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Equity in undistributed net income of Middlefield Banking Company | (4,884 | ) | (4,655 | ) | (3,422 | ) | |||||||
Equity in undistributed net income of Emerald Bank | (598 | ) | (240 | ) | 384 | ||||||||
Equity in undistributed net income of EMORECO | 104 | 280 | 441 | ||||||||||
Stock-based compensation expense | - | 32 | 59 | ||||||||||
Investment securities losses, net | - | - | 179 | ||||||||||
Other | (253 | ) | (885 | ) | (806 | ) | |||||||
Net cash provided by operating activities | 1,397 | 813 | 965 | ||||||||||
INVESTING ACTIVITIES | |||||||||||||
Investment in subsidiary bank | - | - | (1,500 | ) | |||||||||
Net cash used for investing activities | - | - | (1,500 | ) | |||||||||
FINANCING ACTIVITIES | |||||||||||||
Net decrease in short-term borrowings | (976 | ) | (804 | ) | - | ||||||||
Common stock issued | 74 | 2,329 | 2,210 | ||||||||||
Stock options exercised | (77 | ) | - | - | |||||||||
Proceeds from dividend reinvestment plan | 736 | 694 | 542 | ||||||||||
Cash dividends | (2,097 | ) | (2,002 | ) | (1,764 | ) | |||||||
Net cash (used for) provided by financing activities | (2,340 | ) | 217 | 988 | |||||||||
(Decrease) increase in cash | (943 | ) | 1,030 | 453 | |||||||||
CASH AT BEGINNING OF YEAR | 1,740 | 710 | 257 | ||||||||||
CASH AT END OF YEAR | $ | 797 | $ | 1,740 | $ | 710 |
Note_20_Selected_Quarterly_Fin1
Note 20 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | ||||||||||||||||
(Dollar amounts in thousands) | Three Months Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | ||||||||||||||
2013 | 2013 | 2013 | 2013 | ||||||||||||||
Total interest income | $ | 7,014 | $ | 6,947 | $ | 7,174 | $ | 7,043 | |||||||||
Total interest expense | 1,429 | 1,357 | 1,328 | 1,136 | |||||||||||||
Net interest income | 5,585 | 5,590 | 5,846 | 5,907 | |||||||||||||
Provision for loan losses | 313 | 300 | 153 | (570 | ) | ||||||||||||
Net interest income after provision for loan losses | 5,272 | 5,290 | 5,693 | 6,477 | |||||||||||||
Total noninterest income | 868 | 819 | 808 | 650 | |||||||||||||
Total noninterest expense | 4,001 | 3,948 | 4,115 | 4,806 | |||||||||||||
Income before income taxes | 2,139 | 2,161 | 2,386 | 2,321 | |||||||||||||
Income taxes | 482 | 476 | 521 | 500 | |||||||||||||
Net income | $ | 1,657 | $ | 1,685 | $ | 1,865 | $ | 1,821 | |||||||||
Per share data: | |||||||||||||||||
Net income | |||||||||||||||||
Basic | $ | 0.84 | $ | 0.82 | $ | 0.92 | $ | 0.9 | |||||||||
Diluted | 0.83 | 0.82 | 0.92 | 0.9 | |||||||||||||
Average shares outstanding: | |||||||||||||||||
Basic | 1,999,645 | 2,017,264 | 2,022,490 | 2,027,680 | |||||||||||||
Diluted | 2,010,292 | 2,023,961 | 2,029,420 | 2,032,611 | |||||||||||||
(Dollar amounts in thousands) | Three Months Ended | ||||||||||||||||
March 31, | June 30, | September 30, | December 31, | ||||||||||||||
2012 | 2012 | 2012 | 2012 | ||||||||||||||
Total interest income | $ | 7,232 | $ | 7,223 | $ | 7,342 | $ | 6,949 | |||||||||
Total interest expense | 1,686 | 1,646 | 1,602 | 1,513 | |||||||||||||
Net interest income | 5,546 | 5,577 | 5,740 | 5,436 | |||||||||||||
Provision for loan losses | 600 | 450 | 143 | 975 | |||||||||||||
Net interest income after provision for loan losses | 4,946 | 5,127 | 5,597 | 4,461 | |||||||||||||
Total noninterest income | 794 | 1,017 | 868 | 772 | |||||||||||||
Total noninterest expense | 3,782 | 4,041 | 4,122 | 3,694 | |||||||||||||
Income before income taxes | 1,958 | 2,103 | 2,343 | 1,539 | |||||||||||||
Income taxes | 435 | 463 | 494 | 270 | |||||||||||||
Net income | $ | 1,523 | $ | 1,640 | $ | 1,849 | $ | 1,269 | |||||||||
Per share data: | |||||||||||||||||
Net income | |||||||||||||||||
Basic | $ | 0.86 | $ | 0.85 | $ | 0.93 | $ | 0.65 | |||||||||
Diluted | 0.86 | 0.85 | 0.93 | 0.64 | |||||||||||||
Average shares outstanding: | |||||||||||||||||
Basic | 1,763,982 | 1,919,333 | 1,978,181 | 1,984,818 | |||||||||||||
Diluted | 1,764,585 | 1,921,205 | 1,983,863 | 1,991,354 |
Note_1_Summary_of_Significant_2
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Number of Branches | 10 | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '10 years | ' | ' |
Share-based Compensation | ' | $32,000 | $59,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | ' | ' | $1.75 |
Restricted Stock or Unit Expense | ' | 32,000 | 43,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | 21,112 | ' | ' |
77,000 | ' | ' | |
Marketing and Advertising Expense | 445,000 | 423,000 | 439,000 |
Vested Shares [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Share-based Compensation | $0 | $0 | $16,000 |
Restricted Stock [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in Shares) | 0 | 1,722 | 2,400 |
Furniture Fixtures and Equipment [Member] | Minimum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '3 years | ' | ' |
Furniture Fixtures and Equipment [Member] | Maximum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '20 years | ' | ' |
Building and Building Improvements [Member] | Minimum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '3 years | ' | ' |
Building and Building Improvements [Member] | Maximum [Member] | ' | ' | ' |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '40 years | ' | ' |
Note_1_Summary_of_Significant_3
Note 1 - Summary of Significant Accounting Policies (Details) - Stock Option Valuation Assumption | 12 Months Ended |
Dec. 31, 2011 | |
Stock Option Valuation Assumption [Abstract] | ' |
2011 | 5.82% |
2011 | 3.00% |
2011 | 21.78% |
2011 | '9 years 350 days |
Note_2_Earnings_Per_Share_Deta
Note 2 - Earnings Per Share (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 2 - Earnings Per Share (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 58,581 | 79,693 | 88,774 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $17.55 | $17.55 | $17.55 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $40.24 | $40.24 | $40.24 |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements (in Shares) | 7,178 | 4,972 | ' |
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants (in Shares) | ' | 12,419 | ' |
Share Price | ' | $16 | ' |
Equity Option [Member] | ' | ' | ' |
Note 2 - Earnings Per Share (Details) [Line Items] | ' | ' | ' |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements (in Shares) | 39,808 | 8,875 | ' |
Note_2_Earnings_Per_Share_Deta1
Note 2 - Earnings Per Share (Details) - Shares Used in Calculation of Earnings Per Share | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Shares Used in Calculation of Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 2,206,392 | 2,101,490 | 1,872,582 |
Average treasury stock shares | ' | ' | ' | ' | ' | ' | ' | ' | -189,530 | -189,530 | -189,530 |
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share | 2,027,680,000 | 2,022,490,000 | 2,017,264,000 | 1,999,645,000 | 1,984,818,000 | 1,978,181,000 | 1,919,333,000 | 1,763,982,000 | 2,016,862 | 1,911,960 | 1,683,052 |
Additional common stock equivalents used to calculate diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 7,178 | 4,972 | ' |
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share | 2,032,611,000 | 2,029,420,000 | 2,023,961,000 | 2,010,292,000 | 1,991,354,000 | 1,983,863,000 | 1,921,205,000 | 1,764,585,000 | 2,024,040 | 1,916,932 | 1,683,052 |
Note_3_Investment_Securities_A2
Note 3 - Investment Securities Available For Sale (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Private Label Collateralized Mortgage Obligations [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Equity Securities in Financial Institutions [Member] | Equity Securities in Financial Institutions [Member] | Equity Securities in Financial Institutions [Member] | Collateralized Mortgage Obligations [Member] | |||
Note 3 - Investment Securities Available For Sale (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities Pledged as Collateral | $66,300,000 | $625,000,000 | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 98 | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Portfolio | 97.20% | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities, Current | 157,143,000 | 194,472,000 | 3,400,000 | 3,693,000 | 5,064,000 | ' | 750,000 | 750,000 | ' |
Available-for-sale Securities, Gross Unrealized Gain | 2,605,000 | 8,427,000 | ' | 327,000 | 511,000 | ' | ' | ' | ' |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities | ' | ' | ' | ' | ' | 194,000 | ' | ' | 35,000 |
Available-for-sale Securities, Debt Securities | ' | ' | ' | ' | ' | ' | ' | ' | $899,000 |
Note_3_Investment_Securities_A3
Note 3 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Note 3 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Available for Sale Securities Amortized Cost | $160,532,000 | $186,305,000 |
Available for Sale Securities Gross Unrealized Gains | 2,605,000 | 8,427,000 |
Available for Sale Securities Gross Unrealized Losses | -5,994,000 | -260,000 |
Available for Sale Securities Fair Value | 157,143,000 | 194,472,000 |
Taxable [Member] | US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Available for Sale Securities Amortized Cost | 3,787,000 | 6,888,000 |
Available for Sale Securities Gross Unrealized Gains | 46,000 | 738,000 |
Available for Sale Securities Gross Unrealized Losses | -38,000 | ' |
Available for Sale Securities Fair Value | 3,795,000 | 7,626,000 |
Tax-exempt [Member] | US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Available for Sale Securities Amortized Cost | 86,524,000 | 80,391,000 |
Available for Sale Securities Gross Unrealized Gains | 1,562,000 | 4,683,000 |
Available for Sale Securities Gross Unrealized Losses | -3,267,000 | -104,000 |
Available for Sale Securities Fair Value | 84,819,000 | 84,970,000 |
US Government Agencies Debt Securities [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Available for Sale Securities Amortized Cost | 27,289,000 | 24,485,000 |
Available for Sale Securities Gross Unrealized Gains | 135,000 | 566,000 |
Available for Sale Securities Gross Unrealized Losses | -1,661,000 | -91,000 |
Available for Sale Securities Fair Value | 25,763,000 | 24,960,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Available for Sale Securities Amortized Cost | 38,816,000 | 69,238,000 |
Available for Sale Securities Gross Unrealized Gains | 535,000 | 1,929,000 |
Available for Sale Securities Gross Unrealized Losses | -1,028,000 | -65,000 |
Available for Sale Securities Fair Value | 38,323,000 | 71,102,000 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Available for Sale Securities Amortized Cost | 3,366,000 | 4,553,000 |
Available for Sale Securities Gross Unrealized Gains | 327,000 | 511,000 |
Available for Sale Securities Fair Value | 3,693,000 | 5,064,000 |
Debt Securities [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Available for Sale Securities Amortized Cost | 159,782,000 | 185,555,000 |
Available for Sale Securities Gross Unrealized Gains | 2,605,000 | 8,427,000 |
Available for Sale Securities Gross Unrealized Losses | -5,994,000 | -260,000 |
Available for Sale Securities Fair Value | 156,393,000 | 193,722,000 |
Equity Securities in Financial Institutions [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Available for Sale Securities Amortized Cost | 750,000 | 750,000 |
Available for Sale Securities Fair Value | $750,000 | $750,000 |
Note_3_Investment_Securities_A4
Note 3 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity [Abstract] | ' |
Due in one year or less | $1,530 |
Due in one year or less | 1,552 |
Due after one year through five years | 4,640 |
Due after one year through five years | 4,858 |
Due after five years through ten years | 22,433 |
Due after five years through ten years | 22,257 |
Due after ten years | 131,179 |
Due after ten years | 127,726 |
Total | 159,782 |
Total | $156,393 |
Note_3_Investment_Securities_A5
Note 3 - Investment Securities Available For Sale (Details) - Sales of Available for Sale Securities (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Sales of Available for Sale Securities [Abstract] | ' | ' | ' |
Proceeds from sales | $25,088 | $32,985 | $24,127 |
Gross realized gains | 186 | 704 | 830 |
Gross realized losses | -175 | -94 | -809 |
Impairment losses | ' | ' | ($194) |
Note_3_Investment_Securities_A6
Note 3 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Note 3 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Fair Value | $59,255 | $31,531 |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Gross Unrealized Losses | -4,608 | -260 |
Securities in Continuous Unrealized Loss Position Twelve Months or Greater Fair Value | 15,092 | ' |
Securities in Continuous Unrealized Loss Position Twelve Months or Greater Gross Unrealized Losses | -1,386 | ' |
Securities in Continuous Unrealized Loss Position Fair Value | 74,347 | 31,531 |
Securities in Continuous Unrealized Loss Position Gross Unrealized Losses | -5,994 | -260 |
US Government Agencies Debt Securities [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Fair Value | 13,130 | 9,938 |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Gross Unrealized Losses | -929 | -91 |
Securities in Continuous Unrealized Loss Position Twelve Months or Greater Fair Value | 7,166 | ' |
Securities in Continuous Unrealized Loss Position Twelve Months or Greater Gross Unrealized Losses | -732 | ' |
Securities in Continuous Unrealized Loss Position Fair Value | 20,295 | 9,938 |
Securities in Continuous Unrealized Loss Position Gross Unrealized Losses | -1,661 | -91 |
US States and Political Subdivisions Debt Securities [Member] | Taxable [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Fair Value | 1,301 | ' |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Gross Unrealized Losses | -38 | ' |
Securities in Continuous Unrealized Loss Position Fair Value | 1,301 | ' |
Securities in Continuous Unrealized Loss Position Gross Unrealized Losses | -38 | ' |
US States and Political Subdivisions Debt Securities [Member] | Tax-exempt [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Fair Value | 26,743 | ' |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Gross Unrealized Losses | -2,883 | ' |
Securities in Continuous Unrealized Loss Position Twelve Months or Greater Fair Value | 2,678 | ' |
Securities in Continuous Unrealized Loss Position Twelve Months or Greater Gross Unrealized Losses | -383 | ' |
Securities in Continuous Unrealized Loss Position Fair Value | 29,421 | ' |
Securities in Continuous Unrealized Loss Position Gross Unrealized Losses | -3,267 | ' |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Fair Value | ' | 9,240 |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Gross Unrealized Losses | ' | -104 |
Securities in Continuous Unrealized Loss Position Fair Value | ' | 9,240 |
Securities in Continuous Unrealized Loss Position Gross Unrealized Losses | ' | -104 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Note 3 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Fair Value | 18,082 | 12,353 |
Securities in Continuous Unrealized Loss Position Less than Twelve Months Gross Unrealized Losses | -757 | -65 |
Securities in Continuous Unrealized Loss Position Twelve Months or Greater Fair Value | 5,248 | ' |
Securities in Continuous Unrealized Loss Position Twelve Months or Greater Gross Unrealized Losses | -271 | ' |
Securities in Continuous Unrealized Loss Position Fair Value | 23,330 | 12,353 |
Securities in Continuous Unrealized Loss Position Gross Unrealized Losses | ($1,028) | ($65) |
Note_4_Loans_and_Related_Allow2
Note 4 - Loans and Related Allowance for Loan Losses (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ' | ' | ' | ' |
Number of Days Past Due | 90 | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | $6,100,000 | $4,600,000 | ' | ' |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 439,000 | 756,000 | 859,000 | ' |
Loans and Leases Receivable, Allowance | 7,046,000 | 7,779,000 | 6,819,000 | 6,221,000 |
Shift from Commercial and Industrial Specific Reserve | 660,000 | ' | ' | ' |
Threshold for Loans Evaluated for Impairment [Member] | Outside Consultant [Member] | ' | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Commercial | 250,000 | ' | ' | ' |
Threshold for Loans Evaluated for Impairment [Member] | Criticized Relationships [Member] | ' | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ' | ' | ' | ' |
Financing Receivable, Gross | 125,000 | ' | ' | ' |
Threshold for Loans Evaluated for Impairment [Member] | ' | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ' | ' | ' | ' |
Notes, Loans and Financing Receivable, Gross, Current | 150,000 | ' | ' | ' |
Loans and Leases Receivable, Gross, Commercial | 200,000 | ' | ' | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance | 614,000 | 1,732,000 | 1,296,000 | 1,234,000 |
Residential Real Estate Mortgage [Member] | ' | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance | 3,664,000 | 2,872,000 | 3,731,000 | 3,392,000 |
Real Estate Construction [Member] | ' | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance | 576,000 | 1,123,000 | 438,000 | 356,000 |
Removed From Real Estate Construction [Member] | ' | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) [Line Items] | ' | ' | ' | ' |
Loans and Leases Receivable, Allowance | 700,000 | ' | ' | ' |
Loans and Leases Receivable, Gross | $3,100,000 | ' | ' | ' |
Note_4_Loans_and_Related_Allow3
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Major Classifications of Net Loans (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Gross | $435,725,000 | $408,433,000 | ' | ' |
Less allowance for loan and lease loss | -7,046,000 | -7,779,000 | -6,819,000 | -6,221,000 |
Net loans | 428,679,000 | 400,654,000 | ' | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Gross | 54,498,000 | 62,188,000 | ' | ' |
Less allowance for loan and lease loss | -614,000 | -1,732,000 | -1,296,000 | -1,234,000 |
Real Estate Construction [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Gross | 25,601,000 | 22,522,000 | ' | ' |
Less allowance for loan and lease loss | -576,000 | -1,123,000 | -438,000 | -356,000 |
Residential Real Estate Mortgage [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Gross | 210,310,000 | 203,872,000 | ' | ' |
Less allowance for loan and lease loss | -3,664,000 | -2,872,000 | -3,731,000 | -3,392,000 |
Commercial Real Estate Mortgage [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Gross | 141,171,000 | 115,734,000 | ' | ' |
Less allowance for loan and lease loss | -2,170,000 | -1,991,000 | -1,306,000 | -1,143,000 |
Consumer Installment [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Financing Receivable Gross | 4,145,000 | 4,117,000 | ' | ' |
Less allowance for loan and lease loss | ($22,000) | ($61,000) | ($48,000) | ($96,000) |
Note_4_Loans_and_Related_Allow4
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Primary Segments of the Loan Portfolio (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Loans: | ' | ' |
Individually evaluated for impairment | $18,965 | $21,288 |
Collectively evaluated for impairment | 416,760 | 387,145 |
Total loans | 435,725 | 408,433 |
Commercial and Industrial [Member] | ' | ' |
Loans: | ' | ' |
Individually evaluated for impairment | 1,891 | 4,592 |
Collectively evaluated for impairment | 52,607 | 57,596 |
Total loans | 54,498 | 62,188 |
Real Estate Construction [Member] | ' | ' |
Loans: | ' | ' |
Individually evaluated for impairment | 4,011 | 3,993 |
Collectively evaluated for impairment | 21,590 | 18,529 |
Total loans | 25,601 | 22,522 |
Residential Real Estate Mortgage [Member] | ' | ' |
Loans: | ' | ' |
Individually evaluated for impairment | 5,882 | 5,761 |
Collectively evaluated for impairment | 204,428 | 198,111 |
Total loans | 210,310 | 203,872 |
Commercial Real Estate Mortgage [Member] | ' | ' |
Loans: | ' | ' |
Individually evaluated for impairment | 7,175 | 6,914 |
Collectively evaluated for impairment | 133,996 | 108,820 |
Total loans | 141,171 | 115,734 |
Consumer Installment [Member] | ' | ' |
Loans: | ' | ' |
Individually evaluated for impairment | 6 | 28 |
Collectively evaluated for impairment | 4,139 | 4,089 |
Total loans | $4,145 | $4,117 |
Note_4_Loans_and_Related_Allow5
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Allowance for Loan Losses (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | $1,807,000 | ' | ' | ' | $3,688,000 | ' | ' | ' | $1,807,000 | $3,688,000 | ' | ' |
Collectively evaluated for impairment | 5,239,000 | ' | ' | ' | 4,091,000 | ' | ' | ' | 5,239,000 | 4,091,000 | ' | ' |
Balance | 7,046,000 | ' | ' | ' | 7,779,000 | ' | ' | ' | 7,046,000 | 7,779,000 | 6,819,000 | 6,221,000 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | -1,330,000 | -1,337,000 | -2,712,000 | ' |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 401,000 | 129,000 | 225,000 | ' |
Provision | -570,000 | 153,000 | 300,000 | 313,000 | 975,000 | 143,000 | 450,000 | 600,000 | 196,000 | 2,168,000 | 3,085,000 | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 179,000 | ' | ' | ' | 1,189,000 | ' | ' | ' | 179,000 | 1,189,000 | ' | ' |
Collectively evaluated for impairment | 435,000 | ' | ' | ' | 543,000 | ' | ' | ' | 435,000 | 543,000 | ' | ' |
Balance | 614,000 | ' | ' | ' | 1,732,000 | ' | ' | ' | 614,000 | 1,732,000 | 1,296,000 | 1,234,000 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | -419,000 | -230,000 | -568,000 | ' |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 191,000 | 71,000 | 76,000 | ' |
Provision | ' | ' | ' | ' | ' | ' | ' | ' | -890,000 | 595,000 | 554,000 | ' |
Real Estate Construction [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 210,000 | ' | ' | ' | 933,000 | ' | ' | ' | 210,000 | 933,000 | ' | ' |
Collectively evaluated for impairment | 366,000 | ' | ' | ' | 190,000 | ' | ' | ' | 366,000 | 190,000 | ' | ' |
Balance | 576,000 | ' | ' | ' | 1,123,000 | ' | ' | ' | 576,000 | 1,123,000 | 438,000 | 356,000 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | -191,000 | -135,000 | -6,000 | ' |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 33,000 | ' | ' | ' |
Provision | ' | ' | ' | ' | ' | ' | ' | ' | -389,000 | 820,000 | 88,000 | ' |
Residential Real Estate Mortgage [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 855,000 | ' | ' | ' | 600,000 | ' | ' | ' | 855,000 | 600,000 | ' | ' |
Collectively evaluated for impairment | 2,809,000 | ' | ' | ' | 2,272,000 | ' | ' | ' | 2,809,000 | 2,272,000 | ' | ' |
Balance | 3,664,000 | ' | ' | ' | 2,872,000 | ' | ' | ' | 3,664,000 | 2,872,000 | 3,731,000 | 3,392,000 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | -675,000 | -785,000 | -1,862,000 | ' |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 107,000 | 31,000 | 122,000 | ' |
Provision | ' | ' | ' | ' | ' | ' | ' | ' | 1,360,000 | -105,000 | 2,079,000 | ' |
Commercial Real Estate Mortgage [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 563,000 | ' | ' | ' | 960,000 | ' | ' | ' | 563,000 | 960,000 | ' | ' |
Collectively evaluated for impairment | 1,607,000 | ' | ' | ' | 1,031,000 | ' | ' | ' | 1,607,000 | 1,031,000 | ' | ' |
Balance | 2,170,000 | ' | ' | ' | 1,991,000 | ' | ' | ' | 2,170,000 | 1,991,000 | 1,306,000 | 1,143,000 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | ' | -123,000 | -265,000 | ' |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 46,000 | ' | ' | ' |
Provision | ' | ' | ' | ' | ' | ' | ' | ' | 133,000 | 808,000 | 428,000 | ' |
Consumer Installment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | ' | ' | ' | ' | 6,000 | ' | ' | ' | ' | 6,000 | ' | ' |
Collectively evaluated for impairment | 22,000 | ' | ' | ' | 55,000 | ' | ' | ' | 22,000 | 55,000 | ' | ' |
Balance | 22,000 | ' | ' | ' | 61,000 | ' | ' | ' | 22,000 | 61,000 | 48,000 | 96,000 |
Charge-offs | ' | ' | ' | ' | ' | ' | ' | ' | -45,000 | -64,000 | -11,000 | ' |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 24,000 | 27,000 | 27,000 | ' |
Provision | ' | ' | ' | ' | ' | ' | ' | ' | ($18,000) | $50,000 | ($64,000) | ' |
Note_4_Loans_and_Related_Allow6
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Impaired Loans by Class (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded investment | $9,284 | $8,408 |
Impaired loans with no related allowance unpaid principal balance | 9,472 | 8,441 |
Impaired loans with related allowance recorded investment | 9,681 | 12,880 |
Impaired loans with related allowance unpaid principal balance | 9,720 | 12,899 |
Impaired loans, related allowance | 1,807 | 3,688 |
Impaired loans recorded investment | 18,965 | 21,288 |
Impaired loans unpaid principal balance | 19,192 | 21,340 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded investment | 1,357 | 1,230 |
Impaired loans with no related allowance unpaid principal balance | 1,357 | 1,229 |
Impaired loans with related allowance recorded investment | 534 | ' |
Impaired loans with related allowance unpaid principal balance | 534 | ' |
Impaired loans, related allowance | 179 | 1,189 |
Impaired loans recorded investment | 1,891 | 4,592 |
Impaired loans unpaid principal balance | 1,891 | 4,596 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded investment | 124 | 308 |
Impaired loans with no related allowance unpaid principal balance | 124 | 308 |
Impaired loans with related allowance recorded investment | 3,887 | 3,685 |
Impaired loans with related allowance unpaid principal balance | 3,887 | 3,685 |
Impaired loans, related allowance | 210 | 933 |
Impaired loans recorded investment | 4,011 | 3,993 |
Impaired loans unpaid principal balance | 4,011 | 3,993 |
Residential Real Estate Mortgage [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded investment | 2,704 | 2,716 |
Impaired loans with no related allowance unpaid principal balance | 2,892 | 2,729 |
Impaired loans with related allowance recorded investment | 3,178 | 3,045 |
Impaired loans with related allowance unpaid principal balance | 3,217 | 3,054 |
Impaired loans, related allowance | 855 | 600 |
Impaired loans recorded investment | 5,882 | 5,761 |
Impaired loans unpaid principal balance | 6,109 | 5,783 |
Commercial Real Estate Mortgage [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded investment | 5,093 | 4,143 |
Impaired loans with no related allowance unpaid principal balance | 5,093 | 4,164 |
Impaired loans with related allowance recorded investment | 2,082 | 2,771 |
Impaired loans with related allowance unpaid principal balance | 2,082 | 2,776 |
Impaired loans, related allowance | 563 | 960 |
Impaired loans recorded investment | 7,175 | 6,914 |
Impaired loans unpaid principal balance | 7,175 | 6,940 |
Consumer Installment [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with no related allowance recorded investment | 6 | 11 |
Impaired loans with no related allowance unpaid principal balance | 6 | 11 |
Impaired loans with related allowance recorded investment | ' | 17 |
Impaired loans with related allowance unpaid principal balance | ' | 17 |
Impaired loans, related allowance | ' | 6 |
Impaired loans recorded investment | 6 | 28 |
Impaired loans unpaid principal balance | 6 | 28 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired loans with related allowance recorded investment | ' | 3,362 |
Impaired loans with related allowance unpaid principal balance | ' | 3,367 |
Impaired loans, related allowance | ' | $1,189 |
Note_4_Loans_and_Related_Allow7
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Additional Information on Impaired Loans (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commercial and Industrial [Member] | ' | ' | ' |
Total: | ' | ' | ' |
Impaired loans, average recorded investment | $2,187 | $2,776 | $1,637 |
Impaired loans, interest income recognized | 119 | 348 | 58 |
Real Estate Construction [Member] | ' | ' | ' |
Total: | ' | ' | ' |
Impaired loans, average recorded investment | 3,743 | 2,798 | 4,521 |
Impaired loans, interest income recognized | 183 | 156 | 216 |
Residential Real Estate Mortgage [Member] | ' | ' | ' |
Total: | ' | ' | ' |
Impaired loans, average recorded investment | 5,380 | 4,263 | 3,188 |
Impaired loans, interest income recognized | 293 | 338 | 157 |
Commercial Real Estate Mortgage [Member] | ' | ' | ' |
Total: | ' | ' | ' |
Impaired loans, average recorded investment | 6,500 | 4,717 | 5,083 |
Impaired loans, interest income recognized | 493 | 543 | 97 |
Consumer Installment [Member] | ' | ' | ' |
Total: | ' | ' | ' |
Impaired loans, average recorded investment | 13 | 27 | 24 |
Impaired loans, interest income recognized | $1 | $3 | $2 |
Note_4_Loans_and_Related_Allow8
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Troubled Debt Restructurings (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Rate Forgiveness [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 6 | 1 | ' |
Rate Forgiveness [Member] | Residential Real Estate Mortgage [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 7 | 2 | ' |
Rate Forgiveness [Member] | Commercial Real Estate Mortgage [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 2 | ' | ' |
Other Restructurings [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 1 | 12 | 8 |
Other Restructurings [Member] | Residential Real Estate Mortgage [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | 7 | 10 |
Other Restructurings [Member] | Commercial Real Estate Mortgage [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | 1 | 2 |
Other Restructurings [Member] | Consumer Installment [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | 2 | 2 |
Other Restructurings [Member] | Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | ' | 2 |
Commercial and Industrial [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 7 | 13 | 8 |
Pre-modification outstanding recorded investment (in Dollars) | 1,264 | 489 | 586 |
Residential Real Estate Mortgage [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 7 | 9 | 10 |
Pre-modification outstanding recorded investment (in Dollars) | 784 | 921 | 1,639 |
Commercial Real Estate Mortgage [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | 2 | 1 | 2 |
Pre-modification outstanding recorded investment (in Dollars) | 834 | 156 | 1,625 |
Consumer Installment [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | 2 | 2 |
Pre-modification outstanding recorded investment (in Dollars) | ' | 11 | 24 |
Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' |
Number of contracts | ' | ' | 2 |
Pre-modification outstanding recorded investment (in Dollars) | ' | ' | 3,883 |
Note_4_Loans_and_Related_Allow9
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Troubled Debt Restructurings that Subsequently Defaulted (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commercial and Industrial [Member] | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Troubled Debt Restructurings that Subsequently Defaulted [Line Items] | ' | ' | ' |
Number of Contracts | 5 | 6 | 3 |
Recorded Investment (in Dollars) | $574 | $256 | $134 |
Commercial Real Estate Mortgage [Member] | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Troubled Debt Restructurings that Subsequently Defaulted [Line Items] | ' | ' | ' |
Number of Contracts | 1 | ' | ' |
Recorded Investment (in Dollars) | 190 | ' | ' |
Real Estate Construction [Member] | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Troubled Debt Restructurings that Subsequently Defaulted [Line Items] | ' | ' | ' |
Number of Contracts | ' | 1 | ' |
Recorded Investment (in Dollars) | ' | 3,622 | ' |
Residential Real Estate Mortgage [Member] | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Troubled Debt Restructurings that Subsequently Defaulted [Line Items] | ' | ' | ' |
Number of Contracts | ' | 2 | ' |
Recorded Investment (in Dollars) | ' | 89 | ' |
Consumer Installment [Member] | ' | ' | ' |
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Troubled Debt Restructurings that Subsequently Defaulted [Line Items] | ' | ' | ' |
Number of Contracts | ' | 1 | 2 |
Recorded Investment (in Dollars) | ' | $5 | $28 |
Recovered_Sheet1
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Classes of the Loan Portfolio Summarized by Credit Quality (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | $435,725 | $408,433 |
Commercial and Industrial [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 52,078 | 59,390 |
Commercial and Industrial [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 772 | 678 |
Commercial and Industrial [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 1,605 | 2,061 |
Commercial and Industrial [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 43 | 59 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 54,498 | 62,188 |
Real Estate Construction [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 24,052 | 17,601 |
Real Estate Construction [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 907 | 0 |
Real Estate Construction [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 642 | 4,921 |
Real Estate Construction [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 0 | 0 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 25,601 | 22,522 |
Residential Real Estate Mortgage [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 198,479 | 190,967 |
Residential Real Estate Mortgage [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 774 | 758 |
Residential Real Estate Mortgage [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 11,057 | 12,147 |
Residential Real Estate Mortgage [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 0 | 0 |
Residential Real Estate Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 210,310 | 203,872 |
Commercial Real Estate Mortgage [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 132,931 | 106,509 |
Commercial Real Estate Mortgage [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 2,232 | 1,928 |
Commercial Real Estate Mortgage [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 6,008 | 7,297 |
Commercial Real Estate Mortgage [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 0 | 0 |
Commercial Real Estate Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 141,171 | 115,734 |
Consumer Installment [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 4,129 | 4,084 |
Consumer Installment [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | ' | 0 |
Consumer Installment [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 16 | 33 |
Consumer Installment [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 0 | 0 |
Consumer Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 4,145 | 4,117 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 411,669 | 378,551 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 4,685 | 3,364 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 19,328 | 26,459 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | $43 | $59 |
Recovered_Sheet2
Note 4 - Loans and Related Allowance for Loan Losses (Details) - Past Due Financing Receivables (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | $422,165 | $391,032 |
Financing Receivable 30-59 Days Past Due | 3,253 | 3,589 |
Financing Receivable 60-89 Days Past Due | 1,595 | 1,561 |
Financing Receivable 90 Days + Past Due | 181 | 438 |
Financing Receivable Total Past Due | 5,029 | 5,588 |
Financing Receivable Non-Accrual | 8,531 | 11,813 |
Financing Receivable | 435,725 | 408,433 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | 53,366 | 60,428 |
Financing Receivable 30-59 Days Past Due | 521 | 441 |
Financing Receivable 60-89 Days Past Due | 359 | 63 |
Financing Receivable 90 Days + Past Due | 38 | 348 |
Financing Receivable Total Past Due | 918 | 852 |
Financing Receivable Non-Accrual | 214 | 908 |
Financing Receivable | 54,498 | 62,188 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | 24,945 | 22,158 |
Financing Receivable 30-59 Days Past Due | 17 | 0 |
Financing Receivable 60-89 Days Past Due | 639 | 0 |
Financing Receivable 90 Days + Past Due | 0 | 0 |
Financing Receivable Total Past Due | 656 | 0 |
Financing Receivable Non-Accrual | ' | 364 |
Financing Receivable | 25,601 | 22,522 |
Residential Real Estate Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | 200,041 | 191,349 |
Financing Receivable 30-59 Days Past Due | 2,079 | 2,614 |
Financing Receivable 60-89 Days Past Due | 481 | 1,401 |
Financing Receivable 90 Days + Past Due | 143 | 90 |
Financing Receivable Total Past Due | 2,703 | 4,105 |
Financing Receivable Non-Accrual | 7,566 | 8,418 |
Financing Receivable | 210,310 | 203,872 |
Commercial Real Estate Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | 139,730 | 113,023 |
Financing Receivable 30-59 Days Past Due | 598 | 509 |
Financing Receivable 60-89 Days Past Due | 100 | 97 |
Financing Receivable 90 Days + Past Due | 0 | 0 |
Financing Receivable Total Past Due | 698 | 606 |
Financing Receivable Non-Accrual | 743 | 2,105 |
Financing Receivable | 141,171 | 115,734 |
Consumer Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | 4,083 | 4,074 |
Financing Receivable 30-59 Days Past Due | 38 | 25 |
Financing Receivable 60-89 Days Past Due | 16 | 0 |
Financing Receivable 90 Days + Past Due | 0 | 0 |
Financing Receivable Total Past Due | 54 | 25 |
Financing Receivable Non-Accrual | 8 | 18 |
Financing Receivable | $4,145 | $4,117 |
Note_5_Premises_and_Equipment_1
Note 5 - Premises and Equipment (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Depreciation | $676,000 | $591,000 | $499,000 |
Note_5_Premises_and_Equipment_2
Note 5 - Premises and Equipment (Details) - Major Classifications of Premises and Equipment (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Major Classifications of Premises and Equipment [Abstract] | ' | ' |
Land and land improvements | $1,943 | $1,885 |
Building and leasehold improvements | 10,832 | 9,427 |
Furniture, fixtures, and equipment | 4,036 | 3,665 |
16,811 | 14,977 | |
Less accumulated depreciation and amortization | 6,983 | 6,307 |
Total | $9,828 | $8,670 |
Note_6_Goodwill_and_Intangible2
Note 6 - Goodwill and Intangible Assets (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Goodwill | $4,559,000 | $4,559,000 | ' |
Finite-Lived Core Deposits, Gross | 156,000 | 195,000 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 240,000 | 200,000 | ' |
Finite-Lived Intangible Asset, Useful Life | '10 years | ' | ' |
Amortization of Intangible Assets | $39,000 | $40,000 | $40,000 |
Note_6_Goodwill_and_Intangible3
Note 6 - Goodwill and Intangible Assets (Details) - Future Amortization Expense (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Future Amortization Expense [Abstract] | ' | ' |
2014 | $40,000 | ' |
2015 | 40,000 | ' |
2016 | 40,000 | ' |
2017 | 36,000 | ' |
Total | $156,000 | $195,000 |
Note_7_Other_Assets_Details_Co
Note 7 - Other Assets (Details) - Components of Other Assets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Note 7 - Other Assets (Details) - Components of Other Assets [Line Items] | ' | ' |
FHLB stock | $1,887 | $1,887 |
Accrued interest | 2,135 | 2,163 |
Deferred tax asset, net | 3,868 | 181 |
Prepaid federal deposit insurance | ' | 513 |
Other real estate owned | 2,698 | 1,846 |
Other | 1,128 | 1,459 |
Total | 11,716 | 8,051 |
Investment Securities [Member] | ' | ' |
Note 7 - Other Assets (Details) - Components of Other Assets [Line Items] | ' | ' |
Accrued interest | 1,029 | 1,031 |
Loans [Member] | ' | ' |
Note 7 - Other Assets (Details) - Components of Other Assets [Line Items] | ' | ' |
Accrued interest | $1,106 | $1,132 |
Note_8_Deposits_Details
Note 8 - Deposits (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Disclosure Text Block [Abstract] | ' | ' |
Time Deposit Maturities, Remainder of Fiscal Year | $69,500,000 | ' |
Time Deposit Maturities, Year Two | 59,900,000 | ' |
Time Deposit Maturities, Year Three | 20,300,000 | ' |
Time Deposit Maturities, Year Four | 10,300,000 | ' |
Time Deposit Maturities, Year Five | 14,400,000 | ' |
Time Deposits, $100,000 or More | $78,085,000 | $79,900,000 |
Note_8_Deposits_Details_Maturi
Note 8 - Deposits (Details) - Maturities on Time Deposits of $100,000 or More (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Maturities on Time Deposits of $100,000 or More [Abstract] | ' | ' |
Within three months (in Dollars) | $6,427 | ' |
Within three months | 8.23% | ' |
Beyond three but within six months (in Dollars) | 8,544 | ' |
Beyond three but within six months | 10.94% | ' |
Beyond six but within twelve months (in Dollars) | 16,446 | ' |
Beyond six but within twelve months | 21.06% | ' |
Beyond one year (in Dollars) | 46,668 | ' |
Beyond one year | 59.77% | ' |
Total (in Dollars) | $78,085 | $79,900 |
Total | 100.00% | ' |
Note_9_ShortTerm_Borrowings_De
Note 9 - Short-Term Borrowings (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Lorain National Bank [Member] | Liberty Bank N.A. [Member] | |||
Note 9 - Short-Term Borrowings (Details) [Line Items] | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | $4 | $3 |
Line of Credit Facility, Interest Rate During Period | ' | ' | ' | 3.67% | 4.00% |
Line of Credit Facility, Amount Outstanding | $3.90 | $4.90 | $5.70 | ' | ' |
Note_9_ShortTerm_Borrowings_De1
Note 9 - Short-Term Borrowings (Details) - Outstanding Balances and Related Information of Short-Term Borrowings (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Outstanding Balances and Related Information of Short-Term Borrowings [Abstract] | ' | ' | ' |
Balance at year-end | $10,809 | $6,538 | $7,392 |
Average balance outstanding | 8,806 | 7,005 | 7,276 |
Maximum month-end balance | $17,351 | $7,458 | $7,552 |
Weighted-average rate at year-end | 1.44% | 2.97% | 3.14% |
Weighted-average rate during the year | 3.15% | 3.73% | 3.23% |
Note_10_Other_Borrowings_Detai
Note 10 - Other Borrowings (Details) (USD $) | 1 Months Ended | 12 Months Ended |
Dec. 31, 2006 | Dec. 31, 2013 | |
Note 10 - Other Borrowings (Details) [Line Items] | ' | ' |
Annual Paydown of Principal Required | ' | 20.00% |
Stock Issued During Period, Shares, New Issues (in Shares) | 248,000 | ' |
Debt Instrument, Basis Spread on Variable Rate | 1.67% | ' |
Notes Payable | $8,248,000 | ' |
Special Purpose Entity [Member] | Mandatorily Redeemable Securities [Member] | ' | ' |
Note 10 - Other Borrowings (Details) [Line Items] | ' | ' |
Securities Sold under Agreements to Repurchase | 8,000,000 | ' |
Federal Home Loan Bank [Member] | ' | ' |
Note 10 - Other Borrowings (Details) [Line Items] | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | 85,300,000 |
Note_10_Other_Borrowings_Detai1
Note 10 - Other Borrowings (Details) - Other Borrowings (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Note 10 - Other Borrowings (Details) - Other Borrowings [Line Items] | ' | ' |
Balance (in Dollars) | $11,609 | $12,970 |
Fixed Rate Amortizing [Member] | ' | ' |
Note 10 - Other Borrowings (Details) - Other Borrowings [Line Items] | ' | ' |
Earliest Maturity Date | 31-Dec-08 | ' |
Latest Maturity Date | 31-Dec-08 | ' |
Weighted average interest rate | 4.02% | ' |
Balance (in Dollars) | 3,361 | 4,722 |
Junior Subordinated Debt [Member] | ' | ' |
Note 10 - Other Borrowings (Details) - Other Borrowings [Line Items] | ' | ' |
Earliest Maturity Date | 31-Dec-08 | ' |
Latest Maturity Date | 31-Dec-08 | ' |
Weighted average interest rate | 1.97% | ' |
Balance (in Dollars) | $8,248 | $8,248 |
Minimum [Member] | Fixed Rate Amortizing [Member] | ' | ' |
Note 10 - Other Borrowings (Details) - Other Borrowings [Line Items] | ' | ' |
Stated interest rate | 2.78% | ' |
Minimum [Member] | Junior Subordinated Debt [Member] | ' | ' |
Note 10 - Other Borrowings (Details) - Other Borrowings [Line Items] | ' | ' |
Stated interest rate | 1.91% | ' |
Maximum [Member] | Fixed Rate Amortizing [Member] | ' | ' |
Note 10 - Other Borrowings (Details) - Other Borrowings [Line Items] | ' | ' |
Stated interest rate | 4.48% | ' |
Maximum [Member] | Junior Subordinated Debt [Member] | ' | ' |
Note 10 - Other Borrowings (Details) - Other Borrowings [Line Items] | ' | ' |
Stated interest rate | 1.98% | ' |
Note_10_Other_Borrowings_Detai2
Note 10 - Other Borrowings (Details) - Maturities of Other Borrowings (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Maturities of Other Borrowings [Abstract] | ' | ' |
2014 (in Dollars) | $984 | ' |
2014 | 3.99% | ' |
2015 (in Dollars) | 685 | ' |
2015 | 4.01% | ' |
2016 (in Dollars) | 502 | ' |
2016 | 4.00% | ' |
2017 (in Dollars) | 373 | ' |
2017 | 4.00% | ' |
2018 (in Dollars) | 252 | ' |
2018 | 4.02% | ' |
Beyond 2018 (in Dollars) | 8,813 | ' |
Beyond 2018 | 2.10% | ' |
Total (in Dollars) | $11,609 | $12,970 |
Total | 2.52% | ' |
Note_11_Other_Liabilities_Deta
Note 11 - Other Liabilities (Details) - Other Liabilities (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Liabilities [Abstract] | ' | ' |
Accrued interest payable | $364 | $492 |
Other | 1,999 | 1,516 |
Total | $2,363 | $2,008 |
Note_12_Income_Taxes_Details_T
Note 12 - Income Taxes (Details) - The Provision (Benefit) for Federal Income Taxes (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
The Provision (Benefit) for Federal Income Taxes [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current payable | ' | ' | ' | ' | ' | ' | ' | ' | $1,556 | $1,660 | $693 |
Deferred | ' | ' | ' | ' | ' | ' | ' | ' | 423 | 2 | -97 |
Total provision | $500 | $521 | $476 | $482 | $270 | $494 | $463 | $435 | $1,979 | $1,662 | $596 |
Note_12_Income_Taxes_Details_D
Note 12 - Income Taxes (Details) - Deferred Tax Assets and Liabilities (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Allowance for loan and lease loss | $2,396 | $2,645 |
Net unrealized loss on securities | 1,152 | ' |
Supplemental retirement plan | 247 | 218 |
Investment security basis adjustment | 66 | 66 |
Nonaccrual interest income | 472 | 508 |
Deferred origination fees, net | 171 | 189 |
OREO adjustments | 107 | 116 |
Accrued compensation | 197 | ' |
Net operating losses | ' | 86 |
Other | 19 | 47 |
Gross deferred tax assets | 4,827 | 3,875 |
Deferred tax liabilities: | ' | ' |
Premises and equipment | 503 | 434 |
Net unrealized gain on securities | ' | 2,777 |
FHLB stock dividends | 225 | 225 |
Intangibles | 304 | 256 |
Other | 107 | 2 |
Gross deferred tax liabilities | 1,139 | 3,694 |
Net deferred tax assets | $3,688 | $181 |
Note_12_Income_Taxes_Details_T1
Note 12 - Income Taxes (Details) - Tax Rate Reconciliation (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Tax Rate Reconciliation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Provision at statutory rate (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | $3,062 | $2,700 | $1,606 |
Provision at statutory rate | ' | ' | ' | ' | ' | ' | ' | ' | 34.00% | 34.00% | 34.00% |
Tax-free income (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | -1,138 | -1,095 | -1,071 |
Tax-free income | ' | ' | ' | ' | ' | ' | ' | ' | -12.60% | -13.80% | -22.70% |
Nondeductible interest expense (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | 45 | 48 | 61 |
Nondeductible interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.60% | 1.30% |
Other (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | 10 | 9 | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 0.10% | 0.10% | ' |
Actual tax expense and effective rate (in Dollars) | $500 | $521 | $476 | $482 | $270 | $494 | $463 | $435 | $1,979 | $1,662 | $596 |
Actual tax expense and effective rate | ' | ' | ' | ' | ' | ' | ' | ' | 22.00% | 20.90% | 12.60% |
Note_13_Employee_Benefits_Deta
Note 13 - Employee Benefits (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | ' | ' | '9 years 350 days |
Maximum Matching Contribution [Member] | Retirement Plan [Member] | ' | ' | ' |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 6.00% | ' | ' |
Middlefield Banking Company [Member] | Retirement Plan [Member] | ' | ' | ' |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan Annual Vesting Percentage | 20.00% | ' | ' |
Middlefield Banking Company [Member] | Directors Retirement Plan [Member] | ' | ' | ' |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Requisite Service Period | 'five | ' | ' |
Retirement Benefits Term | '10 years | ' | ' |
Postretirement Benefits Percentage of Compensation | 25.00% | ' | ' |
Middlefield Banking Company [Member] | Executive Deferred Compensation Plan [Member] | ' | ' | ' |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan, Employer Discretionary Contribution Amount (in Dollars) | $120,000 | $139,000 | $91,000 |
Emerald Bank [Member] | Retirement Plan [Member] | After One Year of Employment [Member] | ' | ' | ' |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan Annual Vesting Percentage | 50.00% | ' | ' |
Emerald Bank [Member] | Retirement Plan [Member] | After Two Years of Employment [Member] | ' | ' | ' |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan Annual Vesting Percentage | 75.00% | ' | ' |
Retirement Plan [Member] | ' | ' | ' |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Requisite Service Period | 'one | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 50.00% | ' | ' |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '6 years | ' | ' |
Defined Benefit Plan, Contributions by Employer (in Dollars) | $155,000 | $125,000 | $104,000 |
Retirement Plan [Member] | Less Than One Year of Employment [Member] | ' | ' | ' |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Defined Contribution Plan Annual Vesting Percentage | 25.00% | ' | ' |
Stock Option and Restricted Stock Plan [Member] | ' | ' | ' |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 160,000 | ' | ' |
Stock Option and Restricted Stock Plan [Member] | Maximum [Member] | ' | ' | ' |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '10 years | ' | ' |
Omnibus Equity Plan [Member] | ' | ' | ' |
Note 13 - Employee Benefits (Details) [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 0 | 1,722 | 2,400 |
Note_13_Employee_Benefits_Deta1
Note 13 - Employee Benefits (Details) - Projected Benefit Payments (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Projected Benefit Payments [Abstract] | ' |
2014 | $34,000 |
2015 | 34,000 |
2016 | 29,000 |
2017 | 23,000 |
2018 | 18,000 |
Thereafter | 23,000 |
Total | $161,000 |
Note_13_Employee_Benefits_Deta2
Note 13 - Employee Benefits (Details) - Stock Option Activity (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Option Activity [Abstract] | ' | ' |
Outstanding, January 1 | 79,693 | 88,774 |
Outstanding, January 1 (in Dollars per share) | $27.25 | $26.81 |
Exercised | -21,112 | ' |
Exercised (in Dollars per share) | $24.11 | ' |
Forfeited | ' | -9,081 |
Forfeited (in Dollars per share) | ' | $22.94 |
Outstanding, December 31 | 58,581 | 79,693 |
Outstanding, December 31 (in Dollars per share) | $28.38 | $27.25 |
Exercisable, December 31 | 58,581 | 79,693 |
Exercisable, December 31 (in Dollars per share) | $28.38 | $27.25 |
Note_13_Employee_Benefits_Deta3
Note 13 - Employee Benefits (Details) - Stocks Options Outstanding by Grant Date (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 12-May-04 | Dec. 13, 2004 | Dec. 14, 2005 | Dec. 10, 2006 | Apr. 19, 2007 | 16-May-07 | Dec. 10, 2007 | Jan. 02, 2008 | Nov. 10, 2008 | 9-May-11 |
Granted May 12, 2004 [Member] | Granted December 13, 2004 [Member] | Granted December 14, 2005 [Member] | Granted December 10, 2006 [Member] | Granted April 19, 2007 [Member] | Granted May 16, 2007 [Member] | Granted December 10, 2007 [Member] | Granted January 2, 2008 [Member] | Granted November 10, 2008 [Member] | Granted May 19, 2011 [Member] | ||||
Note 13 - Employee Benefits (Details) - Stocks Options Outstanding by Grant Date [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise Price | $28.38 | $27.25 | $26.81 | $27,350 | $30,450 | $36,730 | $40,240 | $37,330 | $37,480 | $37,000 | $36,250 | $23,000 | $17,550 |
Shares Outstanding (in Shares) | 58,581 | 79,693 | 88,774 | 907 | 11,223 | 7,163 | 3,150 | 3,639 | 1,337 | 2,450 | 1,337 | 18,500 | 8,875 |
Contractual Average Life | ' | ' | ' | '131 days | '346 days | '1 year 346 days | '2 years 343 days | '3 years 105 days | '3 years 135 days | '3 years 343 days | '4 years | '4 years 313 days | '7 years 127 days |
Average Exercise Price | $28.38 | $27.25 | $26.81 | $27,350 | $30,450 | $36,730 | $40,240 | $37,330 | $37,480 | $37,000 | $36,250 | $23,000 | $17,550 |
Shares Exercisable (in Shares) | 58,581 | 79,693 | ' | 907 | 11,223 | 7,163 | 3,150 | 3,639 | 1,337 | 2,450 | 1,337 | 18,500 | 8,875 |
Average Exercise Price | $28.38 | $27.25 | ' | $27,350 | $30,450 | $36,730 | $40,240 | $37,730 | $37,480 | $37,000 | $36,250 | $23,000 | $17,550 |
Note_14_Commitments_Details
Note 14 - Commitments (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Operating Leases, Rent Expense | $301,000 | $269,000 | $248,000 |
Note_14_Commitments_Details_Ou
Note 14 - Commitments (Details) - Outstanding Commitments and Contingent Liabilities (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Note 14 - Commitments (Details) - Outstanding Commitments and Contingent Liabilities [Line Items] | ' | ' |
Commitments | $125,670 | $92,135 |
Financial Standby Letter of Credit [Member] | ' | ' |
Note 14 - Commitments (Details) - Outstanding Commitments and Contingent Liabilities [Line Items] | ' | ' |
Commitments | 4,809 | 281 |
Commitments to Extend Credit [Member] | ' | ' |
Note 14 - Commitments (Details) - Outstanding Commitments and Contingent Liabilities [Line Items] | ' | ' |
Commitments | $120,861 | $91,854 |
Note_14_Commitments_Details_Fu
Note 14 - Commitments (Details) - Future Payments under Operating Leases (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Future Payments under Operating Leases [Abstract] | ' |
2014 | $221 |
2015 | 226 |
2016 | 230 |
2017 | 238 |
2018 | 240 |
Thereafter | 203 |
$1,358 |
Note_15_Regulatory_Restriction1
Note 15 - Regulatory Restrictions (Details) (USD $) | 1 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||||||
Dec. 31, 2006 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 28, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Subsequent Event [Member] | Subsequent Event [Member] | Minimum Required for FDIC Memorandum of Understanding [Member] | Minimum Required for FDIC Memorandum of Understanding [Member] | Emerald Bank [Member] | Emerald Bank [Member] | Emerald Bank [Member] | Emerald Bank [Member] | Emerald Bank [Member] | Emerald Bank [Member] | Middlefield Banking Company [Member] | Middlefield Banking Company [Member] | One Investor [Member] | ||||
Pursuant to Regulatory Clearance [Member] | One Investor [Member] | Emerald Bank [Member] | Middlefield Banking Company [Member] | |||||||||||||
One Investor [Member] | ||||||||||||||||
Note 15 - Regulatory Restrictions (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | ' | ' | ' | ' | ' | ' | 7.25% | ' | 4.00% | 4.00% | ' | 9.00% | ' | 4.00% | 4.00% | ' |
Nonperforming Assets Sold (in Dollars) | ' | ' | ' | ' | ' | ' | ' | $5,800,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Advances to Affiliate (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | 500,000 | ' | ' | ' |
Tier One Leverage Capital to Average Assets | ' | ' | ' | ' | ' | 10.92% | 9.00% | ' | 10.92% | 10.61% | ' | ' | ' | 8.51% | 7.32% | ' |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | ' | ' | ' | ' | ' | ' | 12.00% | ' | 4.00% | 4.00% | ' | ' | ' | 4.00% | 4.00% | ' |
Reserves Required by Federal Reserve Bank (in Dollars) | ' | 7,400,000 | 7,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of Common Stock | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Available for Payment of Dividends (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10,400,000 | ' | ' |
Stock Issued During Period, Shares, New Issues (in Shares) | 248,000 | ' | ' | ' | 196,635 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Parent | ' | ' | ' | ' | 9.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Ownership of Stock | ' | ' | ' | 24.99% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% |
Note_16_Regulatory_Capital_Det
Note 16 - Regulatory Capital (Details) | Dec. 31, 2013 | Dec. 31, 2012 |
Disclosure Text Block [Abstract] | ' | ' |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | 6.00% |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Note_16_Regulatory_Capital_Det1
Note 16 - Regulatory Capital (Details) - Capital Ratios (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 28, 2011 |
In Thousands, unless otherwise specified | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
To Be Well Capitalized | 10.00% | 10.00% | ' |
To Be Well Capitalized | 6.00% | 6.00% | ' |
To Be Well Capitalized | 5.00% | 5.00% | ' |
Middlefield Banc Corp [Member] | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Actual (in Dollars) | $64,220 | $57,784 | ' |
Actual | 14.06% | 13.86% | ' |
For Capital Adequacy Purposes (in Dollars) | 36,541 | 33,344 | ' |
For Capital Adequacy Purposes | 8.00% | 8.00% | ' |
To Be Well Capitalized (in Dollars) | 45,676 | 41,680 | ' |
To Be Well Capitalized | 10.00% | 10.00% | ' |
Actual (in Dollars) | 58,494 | 52,543 | ' |
Actual | 12.81% | 12.61% | ' |
For Capital Adequacy Purposes (in Dollars) | 18,270 | 16,672 | ' |
For Capital Adequacy Purposes | 4.00% | 4.00% | ' |
To Be Well Capitalized (in Dollars) | 27,406 | 25,008 | ' |
To Be Well Capitalized | 6.00% | 6.00% | ' |
Actual (in Dollars) | 58,494 | 52,543 | ' |
Actual | 8.97% | 7.88% | ' |
For Capital Adequacy Purposes (in Dollars) | 26,093 | 26,675 | ' |
For Capital Adequacy Purposes | 4.00% | 4.00% | ' |
To Be Well Capitalized (in Dollars) | 32,617 | 33,344 | ' |
To Be Well Capitalized | 5.00% | 5.00% | ' |
Middlefield Banking Company [Member] | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Actual (in Dollars) | 53,194 | 47,887 | ' |
Actual | 13.77% | 13.29% | ' |
For Capital Adequacy Purposes (in Dollars) | 30,906 | 28,822 | ' |
For Capital Adequacy Purposes | 8.00% | 8.00% | ' |
To Be Well Capitalized (in Dollars) | 38,632 | 36,027 | ' |
To Be Well Capitalized | 10.00% | 10.00% | ' |
Actual (in Dollars) | 48,364 | 43,371 | ' |
Actual | 12.52% | 12.04% | ' |
For Capital Adequacy Purposes (in Dollars) | 15,453 | 14,411 | ' |
For Capital Adequacy Purposes | 4.00% | 4.00% | ' |
To Be Well Capitalized (in Dollars) | 23,179 | 21,616 | ' |
To Be Well Capitalized | 6.00% | 6.00% | ' |
Actual (in Dollars) | 48,364 | 43,371 | ' |
Actual | 8.51% | 7.32% | ' |
For Capital Adequacy Purposes (in Dollars) | 22,735 | 23,684 | ' |
For Capital Adequacy Purposes | 4.00% | 4.00% | ' |
To Be Well Capitalized (in Dollars) | 28,419 | 29,605 | ' |
To Be Well Capitalized | 5.00% | 5.00% | ' |
Emerald Bank [Member] | ' | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' |
Actual (in Dollars) | 9,482 | 8,440 | ' |
Actual | 13.76% | 15.45% | ' |
For Capital Adequacy Purposes (in Dollars) | 5,514 | 4,370 | ' |
For Capital Adequacy Purposes | 8.00% | 8.00% | ' |
To Be Well Capitalized (in Dollars) | 6,893 | 5,463 | ' |
To Be Well Capitalized | 10.00% | 10.00% | ' |
Actual (in Dollars) | 8,605 | 7,737 | ' |
Actual | 12.48% | 14.16% | ' |
For Capital Adequacy Purposes (in Dollars) | 2,757 | 2,185 | ' |
For Capital Adequacy Purposes | 4.00% | 4.00% | ' |
To Be Well Capitalized (in Dollars) | 4,136 | 3,278 | ' |
To Be Well Capitalized | 6.00% | 6.00% | ' |
Actual (in Dollars) | 8,605 | 7,737 | ' |
Actual | 10.92% | 10.61% | ' |
For Capital Adequacy Purposes (in Dollars) | 3,152 | 2,916 | ' |
For Capital Adequacy Purposes | 4.00% | 4.00% | 9.00% |
To Be Well Capitalized (in Dollars) | $3,940 | $3,646 | ' |
To Be Well Capitalized | 5.00% | 5.00% | ' |
Note_17_Fair_Value_Disclosure_2
Note 17 - Fair Value Disclosure Measurements (Details) - Assets Measured on a Recurring Basis (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | $157,143 | $194,472 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 25,763 | 24,960 |
US Government Agencies Debt Securities [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 25,763 | 24,960 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 88,614 | 92,596 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 88,614 | 92,596 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 38,323 | 71,102 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 38,323 | 71,102 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 3,693 | 5,064 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 3,693 | 5,064 |
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 156,393 | 193,722 |
Debt Securities [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 156,393 | 193,722 |
Equity Securities in Financial Institutions [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 5 | 5 |
Equity Securities in Financial Institutions [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 745 | 745 |
Equity Securities in Financial Institutions [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 750 | 750 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 5 | 5 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | $157,138 | $194,467 |
Note_17_Fair_Value_Disclosure_3
Note 17 - Fair Value Disclosure Measurements (Details) - Assets Measured on a Nonrecurring Basis (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets measured on a non-recurring basis: | ' | ' |
Impaired loans | $18,965 | $21,288 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets measured on a non-recurring basis: | ' | ' |
Impaired loans | 17,158 | 17,600 |
Other real estate owned | 2,698 | 1,846 |
Estimate of Fair Value Measurement [Member] | ' | ' |
Assets measured on a non-recurring basis: | ' | ' |
Impaired loans | 17,158 | 17,600 |
Other real estate owned | $2,698 | $1,846 |
Note_17_Fair_Value_Disclosure_4
Note 17 - Fair Value Disclosure Measurements (Details) - Additional Quantitative Information About Assets Measured at Fair Value on Non-Recurring Basis (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | |
Appraisal Adjustments [Member] | Impaired Loans [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Impaired loans (in Dollars) | $17,158 | $17,600 | |
'Appraisal of collateral (1) | [1] | ' | |
Appraisal Adjustments [Member] | Other Real Estate Owned [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Impaired loans (in Dollars) | $2,698 | $1,846 | |
'Appraisal of collateral (1), (3) | [1],[2] | ' | |
Appraisal Adjustments [Member] | Minimum [Member] | Impaired Loans [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Other real estate owned | 0.00% | ' | |
Appraisal Adjustments [Member] | Minimum [Member] | Other Real Estate Owned [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Other real estate owned | 0.00% | ' | |
Appraisal Adjustments [Member] | Maximum [Member] | Impaired Loans [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Other real estate owned | -68.00% | ' | |
Appraisal Adjustments [Member] | Maximum [Member] | Other Real Estate Owned [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Other real estate owned | -10.00% | ' | |
Appraisal Adjustments [Member] | Weighted Average [Member] | Impaired Loans [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Other real estate owned | -30.00% | ' | |
Appraisal Adjustments [Member] | Weighted Average [Member] | Other Real Estate Owned [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Other real estate owned | -7.50% | ' | |
Liquidation Expenses [Member] | Minimum [Member] | Impaired Loans [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Other real estate owned | 0.00% | ' | |
Liquidation Expenses [Member] | Maximum [Member] | Impaired Loans [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Other real estate owned | -45.80% | ' | |
Liquidation Expenses [Member] | Weighted Average [Member] | Impaired Loans [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Other real estate owned | -2.10% | ' | |
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. | ||
[2] | Includes qualitative adjustments by management and estimated liquidation expenses. |
Note_17_Fair_Value_Disclosure_5
Note 17 - Fair Value Disclosure Measurements (Details) - Estimated Fair Value of the Companybs Financial Instruments (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | $26,193 | $45,346 | $34,390 | $30,635 |
Cash and cash equivalents | 26,193 | 45,346 | ' | ' |
Investment securities | ' | ' | ' | ' |
Available for sale | 157,143 | 194,472 | ' | ' |
Available for sale | 157,143 | 194,472 | ' | ' |
Net loans | 428,679 | 400,654 | ' | ' |
Net loans | 430,502 | 390,206 | ' | ' |
Bank-owned life insurance | 8,816 | 8,536 | ' | ' |
Federal Home Loan Bank stock | 1,887 | 1,887 | ' | ' |
Accrued interest receivable | 2,135 | 2,163 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 568,836 | 593,335 | ' | ' |
Deposits | 570,276 | 592,704 | ' | ' |
Short-term borrowings | 10,809 | 6,538 | 7,392 | ' |
Short-term borrowings | 10,809 | 6,538 | ' | ' |
Other borrowings | 11,609 | 12,970 | ' | ' |
Other borrowings | 11,787 | 13,337 | ' | ' |
Accrued interest payable | 364 | 492 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 26,193 | 45,346 | ' | ' |
Investment securities | ' | ' | ' | ' |
Available for sale | 5 | 5 | ' | ' |
Available for sale | 5 | 5 | ' | ' |
Bank-owned life insurance | 8,816 | 8,536 | ' | ' |
Federal Home Loan Bank stock | 1,887 | 1,887 | ' | ' |
Accrued interest receivable | 2,135 | 2,163 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 394,422 | 396,582 | ' | ' |
Short-term borrowings | 10,809 | 6,538 | ' | ' |
Accrued interest payable | 364 | 492 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' |
Investment securities | ' | ' | ' | ' |
Available for sale | 157,138 | 194,467 | ' | ' |
Available for sale | 157,138 | 194,467 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' |
Investment securities | ' | ' | ' | ' |
Net loans | 430,502 | 390,206 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 175,854 | 196,122 | ' | ' |
Other borrowings | $11,787 | $13,337 | ' | ' |
Note_18_Accumulated_Other_Comp2
Note 18 - Accumulated Other Comprehensive Income (Details) - Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | ||
Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax [Abstract] | ' | ' | ' | ||
Balance | ($2,237) | [1] | $5,391 | [1] | ' |
Other comprehensive loss before reclassification | -7,621 | [1] | ' | ' | |
Amount reclassified from accumulated other comprehensive loss | -7 | [1] | ' | ' | |
Period change | ($7,628) | [1] | $850 | $4,054 | |
[1] | Amounts in parentheses indicate debits to net income |
Note_18_Accumulated_Other_Comp3
Note 18 - Accumulated Other Comprehensive Income (Details) - Significant Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Unrealized gains (losses) on available for sale securities | ' | ' | ||
$ | ($11) | [1] | ' | [1] |
4 | [1] | ' | [1] | |
$ | ($7) | [1] | ' | [1] |
[1] | Amounts in parentheses indicate debits to net income |
Note_19_Parent_Company_Details
Note 19 - Parent Company (Details) - Condensed Balance Sheet (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ' | ' |
Cash and due from banks | $20,926 | $33,568 | ' | ' |
Investment securities available for sale | 157,143 | 194,472 | ' | ' |
Other assets | 11,716 | 8,051 | ' | ' |
TOTAL ASSETS | 647,090 | 670,288 | ' | ' |
LIABILITIES | ' | ' | ' | ' |
Short-term borrowings | 10,809 | 6,538 | 7,392 | ' |
TOTAL LIABILITIES | 593,617 | 614,851 | ' | ' |
STOCKHOLDERS' EQUITY | 53,473 | 55,437 | 47,253 | 38,022 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 647,090 | 670,288 | ' | ' |
Non-Bank Subsidiary [Member] | Parent Company [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Investment in subsidiaries | 2,560 | 2,664 | ' | ' |
Subsidiary Banks [Member] | Parent Company [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Investment in subsidiaries | 59,951 | 62,002 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash and due from banks | 797 | 1,740 | ' | ' |
Investment securities available for sale | 750 | 751 | ' | ' |
Other assets | 1,615 | 1,453 | ' | ' |
TOTAL ASSETS | 65,673 | 68,610 | ' | ' |
LIABILITIES | ' | ' | ' | ' |
Trust preferred securities | 8,248 | 8,248 | ' | ' |
Short-term borrowings | 3,895 | 4,896 | ' | ' |
Other liabilities | 57 | 29 | ' | ' |
TOTAL LIABILITIES | 12,200 | 13,173 | ' | ' |
STOCKHOLDERS' EQUITY | 53,473 | 55,437 | ' | ' |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $65,673 | $68,610 | ' | ' |
Note_19_Parent_Company_Details1
Note 19 - Parent Company (Details) - Condensed Statement of Income (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
INCOME | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total income | ' | ' | ' | ' | ' | ' | ' | ' | $28,178 | $28,746 | $29,727 | ' |
EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | 1,136 | 1,328 | 1,357 | 1,429 | 1,513 | 1,602 | 1,646 | 1,686 | 5,250 | 6,447 | 8,652 | ' |
Income before income tax benefit | 2,321 | 2,386 | 2,161 | 2,139 | 1,539 | 2,343 | 2,103 | 1,958 | 9,007 | 7,943 | 4,726 | ' |
Income tax benefit | 500 | 521 | 476 | 482 | 270 | 494 | 463 | 435 | 1,979 | 1,662 | 596 | ' |
NET INCOME | 1,821 | 1,865 | 1,685 | 1,657 | 1,269 | 1,849 | 1,640 | 1,523 | 7,028 | 6,281 | 4,130 | 4,130 |
Comprehensive (Loss) Income | ' | ' | ' | ' | ' | ' | ' | ' | -600 | 7,131 | ' | 8,184 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
INCOME | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends from subsidiary bank | ' | ' | ' | ' | ' | ' | ' | ' | 2,198 | 2,327 | 2,403 | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 8 | -177 | ' |
Total income | ' | ' | ' | ' | ' | ' | ' | ' | 2,203 | 2,335 | 2,226 | ' |
EXPENSES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 361 | 417 | 772 | ' |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 475 | 594 | 370 | ' |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 836 | 1,011 | 1,142 | ' |
Income before income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 1,367 | 1,324 | 1,084 | ' |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -283 | -342 | -449 | ' |
Income before equity in undistributed net income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 1,650 | 1,666 | 1,533 | ' |
Equity in undistributed net income of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 5,378 | 4,615 | 2,597 | ' |
NET INCOME | ' | ' | ' | ' | ' | ' | ' | ' | 7,028 | 6,281 | 4,130 | ' |
Comprehensive (Loss) Income | ' | ' | ' | ' | ' | ' | ' | ' | ($600) | $7,131 | $8,184 | ' |
Note_19_Parent_Company_Details2
Note 19 - Parent Company (Details) - Condensed Statement of Cash Flows (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
OPERATING ACTIVITIES | ' | ' | ' | ' |
Net income | $7,028,000 | $6,281,000 | $4,130,000 | $4,130,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Stock-based compensation expense | ' | 32,000 | 59,000 | ' |
Investment securities losses, net | 11,000 | 610,000 | -173,000 | ' |
Other | 364,000 | 355,000 | -22,000 | ' |
Net cash provided by operating activities | 9,897,000 | 10,282,000 | 9,146,000 | ' |
INVESTING ACTIVITIES | ' | ' | ' | ' |
Net cash used for investing activities | -6,097,000 | -8,005,000 | -19,360,000 | ' |
FINANCING ACTIVITIES | ' | ' | ' | ' |
Net decrease in short-term borrowings | 4,271,000 | -854,000 | -240,000 | ' |
Common stock issued | 74,000 | 2,329,000 | 2,210,000 | ' |
Cash dividends | -2,097,000 | -2,002,000 | -1,764,000 | ' |
Net cash (used for) provided by financing activities | -22,953,000 | 8,679,000 | 13,969,000 | ' |
(Decrease) increase in cash | -19,153,000 | 10,956,000 | 3,755,000 | ' |
Cash and Cash Equivalents | 26,193,000 | 45,346,000 | 34,390,000 | 30,635,000 |
Parent Company [Member] | Middlefield Banking Company [Member] | ' | ' | ' | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Equity in undistributed net income | -4,884,000 | -4,655,000 | -3,422,000 | ' |
Parent Company [Member] | Emerald Bank [Member] | ' | ' | ' | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Equity in undistributed net income | -598,000 | -240,000 | 384,000 | ' |
Parent Company [Member] | EMORECO [Member] | ' | ' | ' | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Equity in undistributed net income | 104,000 | 280,000 | 441,000 | ' |
Parent Company [Member] | ' | ' | ' | ' |
OPERATING ACTIVITIES | ' | ' | ' | ' |
Net income | 7,028,000 | 6,281,000 | 4,130,000 | ' |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Equity in undistributed net income | 5,378,000 | 4,615,000 | 2,597,000 | ' |
Stock-based compensation expense | ' | 32,000 | 59,000 | ' |
Investment securities losses, net | ' | ' | 179,000 | ' |
Other | -253,000 | -885,000 | -806,000 | ' |
Net cash provided by operating activities | 1,397,000 | 813,000 | 965,000 | ' |
FINANCING ACTIVITIES | ' | ' | ' | ' |
Net decrease in short-term borrowings | -976,000 | -804,000 | ' | ' |
Common stock issued | 74,000 | 2,329,000 | 2,210,000 | ' |
Stock options exercised | -77,000 | ' | ' | ' |
Proceeds from dividend reinvestment plan | 736,000 | 694,000 | 542,000 | ' |
Cash dividends | -2,097,000 | -2,002,000 | -1,764,000 | ' |
Net cash (used for) provided by financing activities | -2,340,000 | 217,000 | 988,000 | ' |
(Decrease) increase in cash | -943,000 | 1,030,000 | 453,000 | ' |
Parent Company [Member] | Beginning of Period [Member] | ' | ' | ' | ' |
FINANCING ACTIVITIES | ' | ' | ' | ' |
Cash and Cash Equivalents | 1,740,000 | 710,000 | 257,000 | ' |
Parent Company [Member] | End of Period [Member] | ' | ' | ' | ' |
FINANCING ACTIVITIES | ' | ' | ' | ' |
Cash and Cash Equivalents | 797,000 | 1,740,000 | 710,000 | ' |
Non-Bank Subsidiaries [Member] | Parent Company [Member] | ' | ' | ' | ' |
INVESTING ACTIVITIES | ' | ' | ' | ' |
Investment in subsidiary bank | ' | ' | -1,500,000 | ' |
Net cash used for investing activities | ' | ' | ($1,500,000) | ' |
Note_20_Selected_Quarterly_Fin2
Note 20 - Selected Quarterly Financial Data (Unaudited) (Details) - Selected Quarterly Financial Data (Unaudited) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Selected Quarterly Financial Data (Unaudited) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total interest income | $7,043 | $7,174 | $6,947 | $7,014 | $6,949 | $7,342 | $7,223 | $7,232 | ' | ' | ' | ' |
Total interest expense | 1,136 | 1,328 | 1,357 | 1,429 | 1,513 | 1,602 | 1,646 | 1,686 | 5,250 | 6,447 | 8,652 | ' |
Net interest income | 5,907 | 5,846 | 5,590 | 5,585 | 5,436 | 5,740 | 5,577 | 5,546 | 22,928 | 22,299 | 21,075 | ' |
Provision for loan losses | -570 | 153 | 300 | 313 | 975 | 143 | 450 | 600 | 196 | 2,168 | 3,085 | ' |
Net interest income after provision for loan losses | 6,477 | 5,693 | 5,290 | 5,272 | 4,461 | 5,597 | 5,127 | 4,946 | 22,732 | 20,131 | 17,990 | ' |
Total noninterest income | 650 | 808 | 819 | 868 | 772 | 868 | 1,017 | 794 | 3,145 | 3,451 | 2,237 | ' |
Total noninterest expense | 4,806 | 4,115 | 3,948 | 4,001 | 3,694 | 4,122 | 4,041 | 3,782 | 16,870 | 15,639 | 15,501 | ' |
Income before income taxes | 2,321 | 2,386 | 2,161 | 2,139 | 1,539 | 2,343 | 2,103 | 1,958 | 9,007 | 7,943 | 4,726 | ' |
Income taxes | 500 | 521 | 476 | 482 | 270 | 494 | 463 | 435 | 1,979 | 1,662 | 596 | ' |
Net income | $1,821 | $1,865 | $1,685 | $1,657 | $1,269 | $1,849 | $1,640 | $1,523 | $7,028 | $6,281 | $4,130 | $4,130 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in Dollars per share) | $0.90 | $0.92 | $0.82 | $0.84 | $0.65 | $0.93 | $0.85 | $0.86 | $3.48 | $3.29 | $2.45 | ' |
Diluted (in Dollars per share) | $0.90 | $0.92 | $0.82 | $0.83 | $0.64 | $0.93 | $0.85 | $0.86 | $3.47 | $3.28 | $2.45 | ' |
Average shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (in Shares) | 2,027,680,000 | 2,022,490,000 | 2,017,264,000 | 1,999,645,000 | 1,984,818,000 | 1,978,181,000 | 1,919,333,000 | 1,763,982,000 | 2,016,862 | 1,911,960 | 1,683,052 | ' |
Diluted (in Shares) | 2,032,611,000 | 2,029,420,000 | 2,023,961,000 | 2,010,292,000 | 1,991,354,000 | 1,983,863,000 | 1,921,205,000 | 1,764,585,000 | 2,024,040 | 1,916,932 | 1,683,052 | ' |