Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Nov. 04, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'MIDDLEFIELD BANC CORP | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 2,048,883 |
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 | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Consolidated_Balance_Sheet_Una
Consolidated Balance Sheet (Unaudited) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
ASSETS | ' | ' | |
Cash and due from banks | $21,486 | $20,926 | |
Federal funds sold | 7,816 | 5,267 | |
Cash and cash equivalents | 29,302 | 26,193 | |
Investment securities available for sale | 156,021 | 157,143 | |
Loans held for sale | 201 | ' | |
Loans | 468,007 | 435,725 | |
Less allowance for loan and lease losses | 7,288 | 7,046 | |
Net loans | 460,719 | 428,679 | |
Premises and equipment, net | 9,916 | 9,828 | |
Goodwill | 4,559 | 4,559 | |
Core deposit intangible | 126 | 156 | |
Bank-owned life insurance | 9,022 | 8,816 | |
Accrued interest and other assets | 10,396 | 11,716 | |
TOTAL ASSETS | 680,262 | 647,090 | |
Deposits: | ' | ' | |
Noninterest-bearing demand | 105,788 | 85,905 | |
Interest-bearing demand | 62,958 | 53,741 | |
Money market | 76,157 | 77,473 | |
Savings | 177,408 | 177,303 | |
Time | 177,709 | 174,414 | |
Total deposits | 600,020 | 568,836 | |
Short-term borrowings | 5,131 | 10,809 | |
Other borrowings | 11,105 | 11,609 | |
Accrued interest and other liabilities | 2,491 | 2,363 | |
TOTAL LIABILITIES | 618,747 | 593,617 | |
STOCKHOLDERS' EQUITY | ' | ' | |
Common stock, no par value; 10,000,000 shares authorized, 2,238,337 and 2,221,834 shares issued; 2,048,807 and 2,032,304 shares outstanding | 35,455 | 34,979 | |
Retained earnings | 31,169 | 27,465 | |
Accumulated other comprehensive income (loss) | 1,625 | [1] | -2,237 |
Treasury stock, at cost; 189,530 shares | -6,734 | -6,734 | |
TOTAL STOCKHOLDERS' EQUITY | 61,515 | 53,473 | |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $680,262 | $647,090 | |
[1] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Consolidated_Balance_Sheet_Una1
Consolidated Balance Sheet (Unaudited) (Parentheticals) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 2,238,337 | 2,221,834 |
Common stock, no par value (in Dollars per share) | $0 | $0 |
Common stock, shares outstanding | 2,048,807 | 2,032,304 |
Treasury stock, shares | 189,530 | 189,530 |
Consolidated_Statement_of_Inco
Consolidated Statement of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
INTEREST INCOME | ' | ' | ' | ' |
Interest and fees on loans | $5,646 | $5,754 | $16,915 | $16,876 |
Interest-bearing deposits in other institutions | 5 | 6 | 19 | 23 |
Federal funds sold | 2 | 4 | 11 | 12 |
Investment securities: | ' | ' | ' | ' |
Taxable interest | 441 | 610 | 1,476 | 1,909 |
Tax-exempt interest | 798 | 782 | 2,336 | 2,259 |
Dividends on stock | 19 | 18 | 62 | 56 |
Total interest income | 6,911 | 7,174 | 20,819 | 21,135 |
INTEREST EXPENSE | ' | ' | ' | ' |
Deposits | 898 | 1,170 | 2,767 | 3,686 |
Short-term borrowings | 38 | 42 | 111 | 141 |
Other borrowings | 30 | 41 | 94 | 131 |
Trust preferred securities | 33 | 75 | 93 | 156 |
Total interest expense | 999 | 1,328 | 3,065 | 4,114 |
NET INTEREST INCOME | 5,912 | 5,846 | 17,754 | 17,021 |
Provision for loan losses | 70 | 153 | 370 | 766 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 5,842 | 5,693 | 17,384 | 16,255 |
NONINTEREST INCOME | ' | ' | ' | ' |
Service charges on deposit accounts | 489 | 510 | 1,399 | 1,468 |
Investment securities gains, net | 190 | ' | 248 | 175 |
Earnings on bank-owned life insurance | 71 | 66 | 206 | 209 |
Gain on sale of loans | 20 | ' | 20 | ' |
Other income | 220 | 232 | 689 | 643 |
Total noninterest income | 990 | 808 | 2,562 | 2,495 |
NONINTEREST EXPENSE | ' | ' | ' | ' |
Salaries and employee benefits | 2,144 | 1,872 | 6,428 | 5,649 |
Occupancy expense | 272 | 273 | 868 | 795 |
Equipment expense | 296 | 228 | 710 | 603 |
Data processing costs | 251 | 209 | 689 | 609 |
Ohio state franchise tax | 93 | 164 | 269 | 467 |
Federal deposit insurance expense | 132 | 135 | 361 | 353 |
Professional fees | 189 | 316 | 814 | 883 |
(Gain) loss on sale of other real estate owned | 49 | -35 | 119 | -40 |
Advertising expense | 120 | 113 | 367 | 336 |
Other real estate expense | 91 | 128 | 256 | 324 |
Directors fees | 99 | 77 | 303 | 315 |
Other expense | 649 | 635 | 2,028 | 1,770 |
Total noninterest expense | 4,385 | 4,115 | 13,212 | 12,064 |
Income before income taxes | 2,447 | 2,386 | 6,734 | 6,686 |
Income taxes | 529 | 521 | 1,442 | 1,479 |
NET INCOME | $1,918 | $1,865 | $5,292 | $5,207 |
EARNINGS PER SHARE | ' | ' | ' | ' |
Basic (in Dollars per share) | $0.94 | $0.92 | $2.60 | $2.59 |
Diluted (in Dollars per share) | $0.93 | $0.92 | $2.59 | $2.58 |
DIVIDENDS DECLARED PER SHARE (in Dollars per share) | $0.26 | $0.26 | $0.78 | $0.78 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||
Net income | $1,918 | $1,865 | $5,292 | $5,207 | ||
Other comprehensive income (loss): | ' | ' | ' | ' | ||
Net unrealized holding gain (loss) on available-for-sale securities | 1,351 | -2,277 | 6,100 | -10,558 | ||
Tax effect | -459 | 774 | -2,074 | 3,589 | ||
Reclassification adjustment for investment securities gains included in net income | -190 | ' | -248 | -175 | ||
Tax effect | 64 | ' | 84 | 60 | ||
Total other comprehensive income (loss) | 766 | [1] | -1,503 | [1] | 3,862 | -7,084 |
Comprehensive income (loss) | $2,684 | $362 | $9,154 | ($1,877) | ||
[1] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (USD $) | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
In Thousands | |||||
Balance, December 31, 2013 at Dec. 31, 2013 | $34,979 | $27,465 | ($2,237) | ($6,734) | $53,473 |
Net income | ' | 5,292 | ' | ' | 5,292 |
Other comprehensive income | ' | ' | 3,862 | ' | 3,862 |
Dividend reinvestment and purchase plan (16,103 shares) | 469 | ' | ' | ' | 469 |
Stock options exercised | -3 | ' | ' | ' | -3 |
Employee stock awards (400 shares) | 10 | ' | ' | ' | 10 |
Cash dividends ($0.78 per share) | ' | -1,588 | ' | ' | -1,588 |
Balance, September 30, 2014 at Sep. 30, 2014 | $35,455 | $31,169 | $1,625 | ($6,734) | $61,515 |
Consolidated_Statement_of_Chan1
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (Parentheticals) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Cash dividends per share (in Dollars per share) | $0.78 |
Common Stock [Member] | ' |
Dividend reinvestment and purchase plan, Shares | 16,103 |
Employee Stock Grants | 400 |
Retained Earnings [Member] | ' |
Cash dividends per share (in Dollars per share) | $0.78 |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
OPERATING ACTIVITIES | ' | ' |
Net income | $5,292 | $5,207 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Provision for loan losses | 370 | 766 |
Investment securities gains, net | -248 | -175 |
Depreciation and amortization | 619 | 786 |
Amortization of premium and discount on investment securities, net | 567 | 721 |
Accretion of deferred loan fees, net | -208 | -203 |
Gain on sale of loans | -20 | ' |
Loans originated for sale | -926 | ' |
Proceeds from sale of loans | 745 | ' |
Earnings on bank-owned life insurance | -206 | -209 |
Deferred income taxes | -323 | 161 |
Loss (gain) on sale of other real estate owned | 119 | -40 |
Increase in accrued interest receivable | -297 | -402 |
Decrease in accrued interest payable | -26 | -28 |
Compensation expense from stock awards | 10 | ' |
Other, net | 65 | 473 |
Net cash provided by operating activities | 5,533 | 7,057 |
INVESTING ACTIVITIES | ' | ' |
Proceeds from repayments and maturities | 10,560 | 20,103 |
Proceeds from sale of securities | 8,382 | 8,136 |
Purchases | -12,287 | -25,815 |
Increase in loans, net | -32,772 | -12,841 |
Proceeds from the sale of other real estate owned | 475 | 860 |
Purchases of premises and equipment | -662 | -476 |
Net cash used for by investing activities | -26,304 | -10,033 |
FINANCING ACTIVITIES | ' | ' |
Net increase (decrease) in deposits | 31,184 | -14,113 |
(Decrease) increase in short-term borrowings, net | -5,678 | 5,676 |
Repayment of other borrowings | -504 | -709 |
Common stock issuance | ' | 74 |
Stock options exercised | -3 | -126 |
Proceeds from dividend reinvestment and purchase plan | 469 | 590 |
Cash dividends paid | -1,588 | -1,569 |
Net cash provided by (used for) financing activities | 23,880 | -10,177 |
Increase (decrease) in cash and cash equivalents | 3,109 | -13,153 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 26,193 | 45,346 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 29,302 | 32,193 |
Cash paid during the year for: | ' | ' |
Interest on deposits and borrowings | 3,091 | 4,142 |
Income taxes | 1,845 | 1,100 |
Noncash investing transactions: | ' | ' |
Transfers from loans to other real estate owned | $570 | $1,693 |
Note_1_Basis_of_Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Basis of Presentation and Significant Accounting Policies [Text Block] | ' |
NOTE 1 - BASIS OF PRESENTATION | |
The consolidated financial statements of Middlefield Banc Corp. ("Company") include its bank subsidiary, The Middlefield Banking Company (“MB”), and a nonbank asset resolution subsidiary EMORECO, Inc. All significant inter-company items have been eliminated. | |
The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles and the instructions for Form 10-Q and Article 10 of Regulation S-X. In management’s opinion, the financial statements include all adjustments, consisting of normal recurring adjustments, that the Company considers necessary to fairly state the Company’s financial position and the results of operations and cash flows. The consolidated balance sheet at December 31, 2013, has been derived from the audited financial statements at that date but does not include all of the necessary informational disclosures and footnotes as required by U.S. generally accepted accounting principles. The accompanying financial statements should be read in conjunction with the financial statements and notes thereto included with the Company’s Form 10-K for the year ended December 31, 2013 (File No. 000-32561). The results of the Company’s operations for any interim period are not necessarily indicative of the results of the Company’s operations for any other interim period or for a full fiscal year. | |
Recent Accounting Pronouncements | |
In June 2013, the FASB issued ASU 2013-08, Financial Services – Investment Companies (Topic 946): Amendments to the Scope, Measurement, and Disclosure Requirements. The amendments in this Update affect the scope, measurement, and disclosure requirements for investment companies under U.S. GAAP. The amendments do all of the following: 1. Change the approach to the investment company assessment in Topic 946, clarify the characteristics of an investment company, and provide comprehensive guidance for assessing whether an entity is an investment Company. 2. Require an investment company to measure noncontrolling ownership interests in other investment companies at fair value rather than using the equity method of accounting. 3. Require the following additional disclosures: (a) the fact that the entity is an investment company and is applying the guidance in Topic 946, (b) information about changes, if any, in an entity’s status as an investment company, and (c) information about financial support provided or contractually required to be provided by an investment company to any of its investees. The amendments in this Update are effective for an entity’s interim and annual reporting periods in fiscal years that begin after December 15, 2013. This ASU became effective for the Company on January 1, 2014 and did not 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. This ASU became effective for the Company on January 1, 2014 and did not have a significant impact on the Company’s financial statements. | |
In January 2014, FASB issued ASU 2014-01, Investments – Equity Method and Joint 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. | |
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 statements. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (a new revenue recognition standard). The Update’s core principle is that a company will recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, this update specifies the accounting for certain costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. This Update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company is evaluating the effect of adopting this new accounting Update. | |
In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this Update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. For repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments also require enhanced disclosures. The accounting changes in this Update are effective for the first interim or annual period beginning after December 15, 2014. An entity is required to present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Earlier application is prohibited. The disclosure for certain transactions accounted for as a sale is required to be presented for interim and annual periods beginning after December 15, 2014, and the disclosure for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The disclosures are not required to be presented for comparative periods before the effective date. This Update is not expected to have a significant impact on the Company’s financial statements. | |
In June 2014, the FASB issued ASU 2014-12, Compensation-Stock Compensation (Topic 718): Accounting for Share-Based Payments when the Terms of an Award Provide that a Performance Target Could Be Achieved After the Requisite Service Period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The amendments in this Update are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this Update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. This Update is not expected to have a significant impact on the Company’s financial statements. | |
In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40). The amendments in this Update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. 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. This Update is not expected to have a significant impact on the Company’s financial statements. | |
In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements -Going Concern (Subtopic 205-40). The amendments in this Update provide guidance in accounting principles generally accepted in the United States of America about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. This Update is not expected to have a significant impact on the Company’s financial statements. |
Note_2_StockBased_Compensation
Note 2 - Stock-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||
Compensation and Employee Benefit Plans [Text Block] | ' | ||||||||||||||||
NOTE 2 - STOCK-BASED COMPENSATION | |||||||||||||||||
The Company had no unvested stock options outstanding or unrecognized stock-based compensation costs outstanding as of September 30, 2014 and 2013. | |||||||||||||||||
Stock option activity during the nine months ended September 30 is as follows: | |||||||||||||||||
Weighted-average | Weighted-average | ||||||||||||||||
2014 | Exercise Price | 2013 | Exercise Price | ||||||||||||||
Outstanding, January 1 | 58,581 | $ | 28.38 | 79,693 | $ | 26.81 | |||||||||||
Exercised | (1,735 | ) | 30.45 | (21,112 | ) | 24.11 | |||||||||||
Forfeited | (907 | ) | 27.35 | - | - | ||||||||||||
Outstanding, September 30 | 55,939 | 28.34 | 58,581 | 26.38 | |||||||||||||
Exercisable, September 30 | 55,939 | 28.34 | 58,581 | 26.38 | |||||||||||||
Note_3_Earnings_Per_Share
Note 3 - Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||
NOTE 3 - EARNINGS PER SHARE | |||||||||||||||||
The Company provides dual presentation of basic and diluted earnings per share. Basic earnings per share is calculated by dividing net income by the average shares outstanding. Diluted earnings per share adds the dilutive effects of stock options to average shares outstanding. | |||||||||||||||||
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 the Three | For the Nine | ||||||||||||||||
Months Ended | Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Weighted-average common shares issued | 2,233,654 | 2,212,020 | 2,228,502 | 2,202,747 | |||||||||||||
Average treasury stock shares | (189,530 | ) | (189,530 | ) | (189,530 | ) | (189,530 | ) | |||||||||
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share | 2,044,124 | 2,022,490 | 2,038,972 | 2,013,217 | |||||||||||||
Additional common stock equivalents (stock options) used to calculate diluted earnings per share | 7,888 | 6,930 | 6,688 | 7,981 | |||||||||||||
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share | 2,052,012 | 2,029,420 | 2,045,660 | 2,021,198 | |||||||||||||
Options to purchase 55,939 shares of common stock, at prices ranging from $17.55 to $40.24, were outstanding during the nine months ended September 30, 2014. Of those options, 28,282 were considered dilutive. For the three months ended September 30, 2014, 27,375 were considered dilutive based on the market price exceeding the strike price. | |||||||||||||||||
Options to purchase 58,581 shares of common stock, at prices ranging from $17.55 to $40.24, were outstanding during the nine months ended September 30, 2013. Of those options, 49,394 were considered dilutive. For the three months ended September 30, 2013, 29,633 were considered dilutive based on the market price exceeding the strike price. |
Note_4_Fair_Value_Measurements
Note 4 - Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||||||
NOTE 4 - FAIR VALUE MEASUREMENTS | |||||||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for an asset or liability in an orderly transaction between market participants at the measurement date. GAAP established a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following six levels: | |||||||||||||||||||||
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: | Assets and liabilities that have little to no pricing observability as of the reported date. These items do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation. | ||||||||||||||||||||
The following tables present the assets measured on a recurring basis on the Consolidated Balance Sheet at their fair value 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. | |||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
(Dollar amounts in thousands) | Level I | Level II | Level III | Total | |||||||||||||||||
Assets measured on a recurring basis: | |||||||||||||||||||||
U.S. government agency securities | $ | - | $ | 22,883 | $ | - | $ | 22,883 | |||||||||||||
Obligations of states and political subdivisions | - | 99,249 | - | 99,249 | |||||||||||||||||
Mortgage-backed securities in government- sponsored entities | 29,984 | 29,984 | |||||||||||||||||||
Private-label mortgage-backed securities | - | 3,122 | - | 3,122 | |||||||||||||||||
Total debt securities | - | 155,238 | - | 155,238 | |||||||||||||||||
Equity securities in financial institutions | 33 | 750 | - | 783 | |||||||||||||||||
Total | $ | 33 | $ | 155,988 | $ | - | $ | 156,021 | |||||||||||||
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 | |||||||||||||
The Company obtains fair values from an independent pricing service which represent either quoted market prices for the identical securities (Level I inputs) or fair values determined by pricing models using a market approach that considers observable market data, such as interest rate volatilities, LIBOR yield curve, credit spreads and prices from market makers and live trading systems (Level II). | |||||||||||||||||||||
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 Company has no securities considered to be Level III as of September 30, 2014 or December 31, 2013. | |||||||||||||||||||||
The Company uses prices compiled by third party vendors due to improvements in third party pricing methodology that have narrowed the variances between third party vendor prices and actual market prices. | |||||||||||||||||||||
The following tables present the assets measured on a nonrecurring 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; 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. | |||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
(Dollar amounts in thousands) | Level I | Level II | Level III | Total | |||||||||||||||||
Assets measured on a nonrecurring basis: | |||||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 13,773 | $ | 13,773 | |||||||||||||
Other real estate owned | - | - | 2,674 | 2,674 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
(Dollar amounts in thousands) | Level I | Level II | Level III | Total | |||||||||||||||||
Assets measured on a nonrecurring basis: | |||||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 17,158 | $ | 17,158 | |||||||||||||
Other real estate owned | - | - | 2,698 | 2,698 | |||||||||||||||||
The Company values other real estate owned at the estimated fair value of the underlying collateral less expected selling costs. Such values are estimated primarily using appraisals and reflect a market value approach. Due to the significance of the Level III inputs, other real estate owned has been classified as Level III. | |||||||||||||||||||||
The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company uses Level III inputs to determine fair value: | |||||||||||||||||||||
Quantitative Information about Level III Fair Value Measurements | |||||||||||||||||||||
(Dollar amounts in thousands) | Fair Value Estimate | Valuation Techniques | Unobservable Input | Range (Weighted Average) | |||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||
Impaired loans | $ | 13,773 | $ | 17,158 | Appraisal of collateral (1) | Appraisal adjustments (2) | -19% | to | -100.00% | -29.30% | |||||||||||
Other real estate owned | $ | 2,674 | $ | 2,698 | Appraisal of collateral (1) | Appraisal adjustments (2) | -10.00% | -10.00% | |||||||||||||
-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. | ||||||||||||||||||||
The estimated fair value of the Company’s financial instruments is as follows: | |||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
Carrying | Total | ||||||||||||||||||||
Value | Level I | Level II | Level III | Fair Value | |||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 29,302 | $ | 29,302 | $ | - | $ | - | $ | 29,302 | |||||||||||
Investment securities available for sale | 156,021 | 33 | 155,988 | - | 156,021 | ||||||||||||||||
Loans held for sale | 201 | 201 | - | - | 201 | ||||||||||||||||
Net loans | 460,719 | - | - | 473,103 | 473,103 | ||||||||||||||||
Bank-owned life insurance | 9,022 | 9,022 | - | - | 9,022 | ||||||||||||||||
Federal Home Loan Bank stock | 1,887 | 1,887 | - | - | 1,887 | ||||||||||||||||
Accrued interest receivable | 2,432 | 2,432 | - | - | 2,432 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 600,020 | $ | 422,311 | $ | - | $ | 169,856 | $ | 592,167 | |||||||||||
Short-term borrowings | 5,131 | 5,131 | - | - | 5,131 | ||||||||||||||||
Other borrowings | 11,105 | - | - | 11,347 | 11,347 | ||||||||||||||||
Accrued interest payable | 338 | 338 | - | - | 338 | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Carrying | Total | ||||||||||||||||||||
Value | Level I | Level II | Level III | Fair Value | |||||||||||||||||
(Dollar amounts 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 | ||||||||||||||||
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 Held for Sale | |||||||||||||||||||||
Loans held-for-sale are carried at lower of cost or market value. The fair value of loans held-for-sale is based on secondary market pricing on portfolios with similar characteristics. The changes in fair value of the assets are largely driven by changes in interest rates subsequent to loan funding and changes in the fair value of servicing associated with the mortgage loan held for sale. | |||||||||||||||||||||
Net 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 used as estimates for fair value. | |||||||||||||||||||||
Deposits and Other Borrowings | |||||||||||||||||||||
The fair values of certificates of deposit and other borrowings 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 period 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. |
Note_5_Accumulated_Other_Compr
Note 5 - Accumulated Other Comprehensive Income | 9 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Disclosure Text Block [Abstract] | ' | |||||||||
Comprehensive Income (Loss) Note [Text Block] | ' | |||||||||
NOTE 5 – ACCUMULATED OTHER COMPREHENSIVE INCOME | ||||||||||
The following table presents the changes in accumulated other comprehensive income by component net of tax for the three and nine months ended September 30, 2014 and 2013, respectively: | ||||||||||
Unrealized gains on | ||||||||||
available-for-sale | ||||||||||
securities (a) | ||||||||||
Balance as of December 31, 2013 | $ | (2,237 | ) | |||||||
Other comprehensive income before reclassification | 3,134 | |||||||||
Amount reclassified from accumulated other comprehensive loss | (38 | ) | ||||||||
Period change | 3,096 | |||||||||
Balance at June 30, 2014 | 859 | |||||||||
Other comprehensive income before reclassification | 892 | |||||||||
Amount reclassified from accumulated other comprehensive income | (126 | ) | ||||||||
Period change | 766 | |||||||||
Balance at September 30, 2014 | $ | 1,625 | ||||||||
Balance as of December 31, 2012 | $ | 5,391 | ||||||||
Other comprehensive loss before reclassification | (5,466 | ) | ||||||||
Amount reclassified from accumulated other comprehensive loss | (115 | ) | ||||||||
Period change | (5,581 | ) | ||||||||
Balance at June 30, 2013 | $ | (190 | ) | |||||||
Other comprehensive loss before reclassification | (1,503 | ) | ||||||||
Amount reclassified from accumulated other comprehensive loss | - | |||||||||
Period change | (1,503 | ) | ||||||||
Balance at September 30, 2013 | $ | (1,693 | ) | |||||||
(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 for the three and nine months ended September 30, 2014 and 2013, respectively: | ||||||||||
Amount Reclassified from | ||||||||||
Accumulated Other Comprehensive Income | Affected Line Item in | |||||||||
For the Three Months Ended | the Statement Where | |||||||||
September 30, | Net Income is | |||||||||
Details about other comprehensive income | 2014 | 2013 | Presented | |||||||
Unrealized gains on available-for-sale securities | ||||||||||
$ | 190 | $ | - | Investment securities gains, net | ||||||
(64 | ) | - | Income taxes | |||||||
$ | 126 | $ | - | Net of tax | ||||||
Amount Reclassified from | ||||||||||
Accumulated Other Comprehensive Income | Affected Line Item in | |||||||||
For the Nine Months Ended | the Statement Where | |||||||||
September 30, | Net Income is | |||||||||
Details about other comprehensive income | 2014 | 2013 | Presented | |||||||
Unrealized gains on available-for-sale securities | ||||||||||
$ | 248 | $ | 175 | Investment securities gains, net | ||||||
(84 | ) | (60 | ) | Income taxes | ||||||
$ | 164 | $ | 115 | Net of tax | ||||||
Note_6_Investment_Securities_A
Note 6 - Investment Securities Available For Sale | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||||||||||||||
NOTE 6 - INVESTMENT SECURITIES AVAILABLE FOR SALE | |||||||||||||||||||||||||
The amortized cost and fair values of securities available for sale are as follows: | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. government agency securities | $ | 23,323 | $ | 244 | $ | (684 | ) | $ | 22,883 | ||||||||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Taxable | 2,955 | 171 | - | 3,126 | |||||||||||||||||||||
Tax-exempt | 93,609 | 3,633 | (1,119 | ) | 96,123 | ||||||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 30,080 | 368 | (464 | ) | 29,984 | ||||||||||||||||||||
Private-label mortgage-backed securities | 2,841 | 281 | - | 3,122 | |||||||||||||||||||||
Total debt securities | 152,808 | 4,697 | (2,267 | ) | 155,238 | ||||||||||||||||||||
Equity securities in financial institutions | 750 | 33 | - | 783 | |||||||||||||||||||||
Total | $ | 153,558 | $ | 4,730 | $ | (2,267 | ) | $ | 156,021 | ||||||||||||||||
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 | ||||||||||||||||
The amortized cost and fair value of debt securities at September 30, 2014, 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 | $ | 1,340 | $ | 1,364 | |||||||||||||||||||||
Due after one year through five years | 5,979 | 6,281 | |||||||||||||||||||||||
Due after five years through ten years | 22,075 | 22,417 | |||||||||||||||||||||||
Due after ten years | 123,414 | 125,176 | |||||||||||||||||||||||
Total | $ | 152,808 | $ | 155,238 | |||||||||||||||||||||
Proceeds from the sales of securities available for sale and the gross realized gains and losses for the three and nine months ended September 30 are as follows: | |||||||||||||||||||||||||
(Dollar amounts in thousands) | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Proceeds from sales | $ | 6,888 | $ | - | $ | 8,382 | $ | 8,136 | |||||||||||||||||
Gross realized gains | 227 | - | 291 | 204 | |||||||||||||||||||||
Gross realized losses | (37 | ) | - | (43 | ) | (29 | ) | ||||||||||||||||||
Investment securities with an approximate carrying value of $62.9 million and $66.3 million at September 30, 2014 and December 31, 2013, respectively, were pledged to secure deposits and other purposes as required by law. | |||||||||||||||||||||||||
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. | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
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 | $ | - | $ | - | $ | 15,636 | $ | (684 | ) | $ | 15,636 | $ | (684 | ) | |||||||||||
Obligations of states and political subdivisions | 4,343 | (20 | ) | 19,145 | (1,099 | ) | 23,488 | (1,119 | ) | ||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 1,068 | (5 | ) | 19,707 | (459 | ) | 20,775 | (464 | ) | ||||||||||||||||
Total | $ | 5,411 | $ | (25 | ) | $ | 54,488 | $ | (2,242 | ) | $ | 59,899 | $ | (2,267 | ) | ||||||||||
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 | ) | ||||||||||
There were 75 securities considered temporarily impaired at September 30, 2014. | |||||||||||||||||||||||||
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 Company assesses whether the unrealized loss is other than temporary. | |||||||||||||||||||||||||
OTTI losses are recognized in earnings when the Company has the intent to sell the debt security or it is more likely than not that it will be required to sell the debt security before recovery of its amortized cost basis. However, even if the Company does not expect to sell a debt security, it must evaluate expected cash flows to be received and determine if a credit loss has occurred. | |||||||||||||||||||||||||
An unrealized loss is generally deemed to be other than temporary and a credit loss is deemed to exist if the present value of the expected future cash flows is less than the amortized cost basis of the debt security. As a result the credit loss component of an OTTI is recorded as a component of investment securities gains (losses) in the accompanying Consolidated Statement of Income, while the remaining portion of the impairment loss is recognized in other comprehensive income, provided the Company does not intend to sell the underlying debt security and it is “more likely than not” that the Company will not have to sell the debt security prior to recovery. | |||||||||||||||||||||||||
Debt securities issued by U.S. government agencies, U.S. government-sponsored enterprises, and state and political subdivisions accounted for more than 97% of the total available-for-sale portfolio as of September 30, 2014 and no credit losses are expected, given the explicit and implicit guarantees provided by the U.S. federal government and the lack of prolonged unrealized loss positions within the obligations of state and political subdivisions security portfolio. The Company considers 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; and | ||||||||||||||||||||||||
• | 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. | ||||||||||||||||||||||||
For the three and nine months ended September 30, 2014 and 2013, there were no available-for-sale debt securities with an unrealized loss that suffered OTTI. Management does not believe any individual unrealized loss as of September 30, 2014 or December 31, 2013 represented an other-than-temporary impairment. The unrealized losses on debt securities are primarily the result of interest rate changes. These conditions will not prohibit the Company from receiving its contractual principal and interest payments on these debt securities. The fair value of these debt securities is expected to recover as payments are received on these securities and they approach maturity. Should the impairment of any of these securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified. |
Note_7_Loans_and_Related_Allow
Note 7 - Loans and Related Allowance for Loan and Lease Losses | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||
NOTE 7 - LOANS AND RELATED ALLOWANCE FOR LOAN AND LEASE LOSSES | |||||||||||||||||||||||||||||
Major classifications of loans are summarized as follows (in thousands): | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Commercial and industrial | $ | 58,874 | $ | 54,498 | |||||||||||||||||||||||||
Real estate - construction | 29,287 | 25,601 | |||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 224,223 | 210,310 | |||||||||||||||||||||||||||
Commercial | 149,488 | 141,171 | |||||||||||||||||||||||||||
Consumer installment | 6,135 | 4,145 | |||||||||||||||||||||||||||
468,007 | 435,725 | ||||||||||||||||||||||||||||
Less allowance for loan and lease losses | 7,288 | 7,046 | |||||||||||||||||||||||||||
Net loans | $ | 460,719 | $ | 428,679 | |||||||||||||||||||||||||
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, loans outstanding to individuals and businesses are dependent upon the local economic conditions in the Company’s immediate trade area. | |||||||||||||||||||||||||||||
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 losses. 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. | |||||||||||||||||||||||||||||
The following tables summarize the primary segments of the loan portfolio and allowance for loan and lease losses (in thousands): | |||||||||||||||||||||||||||||
Real Estate- Mortgage | |||||||||||||||||||||||||||||
30-Sep-14 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,567 | $ | 3,459 | $ | 5,503 | $ | 4,996 | $ | 7 | $ | 15,532 | |||||||||||||||||
Collectively evaluated for impairment | 57,307 | 25,828 | 218,720 | 144,492 | 6,128 | 452,475 | |||||||||||||||||||||||
Total loans | $ | 58,874 | $ | 29,287 | $ | 224,223 | $ | 149,488 | $ | 6,135 | $ | 468,007 | |||||||||||||||||
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 | |||||||||||||||||||||||||||||
30-Sep-14 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Allowance for loan and lease losses: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 79 | $ | 600 | $ | 907 | $ | 170 | $ | 3 | $ | 1,759 | |||||||||||||||||
Collectively evaluated for impairment | 607 | 243 | 3,043 | 1,584 | 52 | 5,529 | |||||||||||||||||||||||
Total ending allowance balance | $ | 686 | $ | 843 | $ | 3,950 | $ | 1,754 | $ | 55 | $ | 7,288 | |||||||||||||||||
Real Estate- Mortgage | |||||||||||||||||||||||||||||
31-Dec-13 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Allowance for loan and lease losses: | |||||||||||||||||||||||||||||
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 | |||||||||||||||||
The commercial real estate loans individually evaluated for impairment declined during the period ended September 30, 2014 mostly due to the payoff of a $2.1 million relationship. | |||||||||||||||||||||||||||||
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 based on Board guidance. 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 the following 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): | |||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | |||||||||||||||||||||||||||
Investment | Principal Balance | Allowance | |||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,217 | $ | 1,216 | $ | - | |||||||||||||||||||||||
Real estate - construction | 2,859 | 2,859 | - | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 2,542 | 2,538 | - | ||||||||||||||||||||||||||
Commercial | 4,147 | 4,143 | - | ||||||||||||||||||||||||||
Consumer installment | - | - | - | ||||||||||||||||||||||||||
Total | $ | 10,765 | $ | 10,756 | $ | - | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 350 | $ | 350 | $ | 79 | |||||||||||||||||||||||
Real estate - construction | 600 | 600 | 600 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 2,961 | 2,959 | 907 | ||||||||||||||||||||||||||
Commercial | 849 | 848 | 170 | ||||||||||||||||||||||||||
Consumer installment | 7 | 7 | 3 | ||||||||||||||||||||||||||
Total | $ | 4,767 | $ | 4,764 | $ | 1,759 | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,567 | $ | 1,566 | $ | 79 | |||||||||||||||||||||||
Real estate - construction | 3,459 | 3,459 | 600 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,503 | 5,497 | 907 | ||||||||||||||||||||||||||
Commercial | 4,996 | 4,991 | 170 | ||||||||||||||||||||||||||
Consumer installment | 7 | 7 | 3 | ||||||||||||||||||||||||||
Total | $ | 15,532 | $ | 15,520 | $ | 1,759 | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | |||||||||||||||||||||||||||
Investment | Principal 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 | ||||||||||||||||||||||||||
Consumer installment | - | - | - | ||||||||||||||||||||||||||
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 | |||||||||||||||||||||||
The following tables present interest income by class, recognized on impaired loans (in thousands): | |||||||||||||||||||||||||||||
For the Three Months Ended September 30, 2014 | For the Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||||
Commercial and industrial | $ | 1,842 | $ | 22 | $ | 2,107 | $ | 71 | |||||||||||||||||||||
Real estate - construction | 3,556 | 38 | 3,644 | 119 | |||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,328 | 62 | 5,319 | 164 | |||||||||||||||||||||||||
Commercial | 5,192 | 83 | 5,678 | 241 | |||||||||||||||||||||||||
Consumer installment | 11 | - | 12 | - | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2013 | For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||||
Commercial and industrial | $ | 2,643 | $ | 15 | $ | 2,687 | $ | 70 | |||||||||||||||||||||
Real estate - construction | 3,850 | 58 | 3,499 | 95 | |||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,274 | 69 | 4,937 | 143 | |||||||||||||||||||||||||
Commercial | 6,669 | 106 | 6,018 | 216 | |||||||||||||||||||||||||
Consumer installment | 14 | 1 | 18 | 1 | |||||||||||||||||||||||||
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 used 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. Assets classified as “doubtful” have all the weaknesses inherent in those classified substandard, with the added characteristic that the weaknesses make collection of principal in full — on the basis of currently existing facts, conditions, and values — highly questionable and improbable. 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 loss. 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 based on Board guidance. 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 semi-annual 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 primary risk of commercial and industrial loans is the current economic uncertainties. C&I loans are, by nature, secured by less substantial collateral than real estate-secured loans. The primary risk of real estate construction loans is potential delays and /or disputes during the completion process. The primary risk of residential real estate loans is current economic uncertainties along with the slow recovery in the housing market. The primary risk of commercial real estate loans is loss of income of the owner or occupier of the property and the inability of the market to sustain rent levels. Consumer installment loans historically have experienced higher delinquency rates. Consumer installments are typically secured by less substantial collateral than other types of credits. | |||||||||||||||||||||||||||||
The following tables present the classes of the loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system (in thousands): | |||||||||||||||||||||||||||||
Special | Total | ||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loans | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 56,619 | $ | 718 | $ | 1,498 | $ | 39 | $ | 58,874 | |||||||||||||||||||
Real estate - construction | 28,687 | - | - | 600 | 29,287 | ||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 212,706 | 899 | 10,618 | - | 224,223 | ||||||||||||||||||||||||
Commercial | 145,464 | 163 | 3,861 | - | 149,488 | ||||||||||||||||||||||||
Consumer installment | 6,112 | - | 23 | - | 6,135 | ||||||||||||||||||||||||
Total | $ | 449,588 | $ | 1,780 | $ | 16,000 | $ | 639 | $ | 468,007 | |||||||||||||||||||
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 | |||||||||||||||||||
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. | |||||||||||||||||||||||||||||
Nonperforming assets include nonaccrual loans, troubled debt restructurings (TDRs), loans 90 days or more past due, EMORECO assets, other real estate owned, and repossessed assets. A loan is classified as nonaccrual when, in the opinion of management, there are serious doubts about collectability of interest and principal. 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 principal and interest is doubtful. Payments received on nonaccrual loans are applied against principal according to management’s shadow accounting system. | |||||||||||||||||||||||||||||
The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans (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 | |||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 58,231 | $ | 56 | $ | 66 | $ | 1 | $ | 122 | $ | 521 | $ | 58,874 | |||||||||||||||
Real estate - construction | 28,687 | - | - | - | - | 600 | 29,287 | ||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 215,999 | 1,128 | 139 | 24 | 1,292 | 6,932 | 224,223 | ||||||||||||||||||||||
Commercial | 147,938 | 559 | 163 | - | 722 | 828 | 149,488 | ||||||||||||||||||||||
Consumer installment | 6,095 | 21 | 1 | - | 22 | 17 | 6,135 | ||||||||||||||||||||||
Total | $ | 456,951 | $ | 1,765 | $ | 369 | $ | 25 | $ | 2,158 | $ | 8,898 | $ | 468,007 | |||||||||||||||
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 | |||||||||||||||
An allowance for loan and lease losses (“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 Statements on the Allowance for Loan and Lease Losses and other bank regulatory guidance. The total of the two components represents the Company’s ALLL. Management also performs impairment analyses on TDRs, which may result in specific reserves. | |||||||||||||||||||||||||||||
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 using the last four consecutive historical 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, 2013 | $ | 614 | $ | 576 | $ | 3,664 | $ | 2,170 | $ | 22 | $ | 7,046 | |||||||||||||||||
Charge-offs | (95 | ) | - | (481 | ) | - | (40 | ) | (616 | ) | |||||||||||||||||||
Recoveries | 88 | 60 | 289 | 40 | 11 | 488 | |||||||||||||||||||||||
Provision | 79 | 207 | 478 | (456 | ) | 62 | 370 | ||||||||||||||||||||||
ALLL balance at September 30, 2014 | $ | 686 | $ | 843 | $ | 3,950 | $ | 1,754 | $ | 55 | $ | 7,288 | |||||||||||||||||
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 | (325 | ) | (190 | ) | (432 | ) | - | (41 | ) | (988 | ) | ||||||||||||||||||
Recoveries | 92 | 33 | 73 | 46 | 20 | 264 | |||||||||||||||||||||||
Provision | (711 | ) | 333 | 1,126 | 36 | (18 | ) | 766 | |||||||||||||||||||||
ALLL balance at September 30, 2013 | $ | 788 | $ | 1,299 | $ | 3,639 | $ | 2,073 | $ | 22 | $ | 7,821 | |||||||||||||||||
Commercial and industrial | Real estate- construction | Real estate- residential mortgage | Real estate- commercial mortgage | Consumer installment | Total | ||||||||||||||||||||||||
ALLL balance at June 30, 2014 | $ | 596 | $ | 423 | $ | 4,130 | $ | 1,925 | $ | 55 | $ | 7,129 | |||||||||||||||||
Charge-offs | (3 | ) | - | (24 | ) | - | (5 | ) | (32 | ) | |||||||||||||||||||
Recoveries | 23 | - | 94 | - | 4 | 121 | |||||||||||||||||||||||
Provision | 70 | 420 | (250 | ) | (171 | ) | 1 | 70 | |||||||||||||||||||||
ALLL balance at September 30, 2014 | $ | 686 | $ | 843 | $ | 3,950 | $ | 1,754 | $ | 55 | $ | 7,288 | |||||||||||||||||
Commercial and industrial | Real estate- construction | Real estate- residential mortgage | Real estate- commercial mortgage | Consumer installment | Total | ||||||||||||||||||||||||
ALLL balance at June 30, 2013 | $ | 875 | $ | 1,191 | $ | 3,626 | $ | 2,005 | $ | 52 | $ | 7,749 | |||||||||||||||||
Charge-offs | - | - | (87 | ) | - | (5 | ) | (92 | ) | ||||||||||||||||||||
Recoveries | - | - | 2 | - | 9 | 11 | |||||||||||||||||||||||
Provision | (87 | ) | 108 | 98 | 68 | (34 | ) | 153 | |||||||||||||||||||||
ALLL balance at September 30, 2013 | $ | 788 | $ | 1,299 | $ | 3,639 | $ | 2,073 | $ | 22 | $ | 7,821 | |||||||||||||||||
The year to date negative commercial real estate provision was largely driven by the payoff of a relationship with a specific reserve of $352,000. | |||||||||||||||||||||||||||||
The following tables summarize troubled debt restructurings and subsequent defaults (in thousands): | |||||||||||||||||||||||||||||
For the three months ended | |||||||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding | Number of Contracts | Pre-Modification Outstanding | ||||||||||||||||||||||||||
Troubled Debt Restructurings | Term Modification | Other | Total | Recorded Investment | Term Modification | Total | Recorded Investment | ||||||||||||||||||||||
Commercial and industrial | 1 | - | 1 | $ | 75 | 1 | 1 | $ | 137 | ||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | 2 | - | 2 | 165 | - | - | - | ||||||||||||||||||||||
Commercial | - | - | - | - | - | - | - | ||||||||||||||||||||||
Consumer | - | - | - | - | - | - | - | ||||||||||||||||||||||
For the nine months ended | |||||||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding | Number of Contracts | Pre-Modification Outstanding | ||||||||||||||||||||||||||
Troubled Debt Restructurings | Term Modification | Other | Total | Recorded Investment | Term Modification | Total | Recorded Investment | ||||||||||||||||||||||
Commercial and industrial | 2 | - | 2 | $ | 75 | 6 | 6 | $ | 879 | ||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | 3 | - | 3 | 198 | 2 | 2 | 383 | ||||||||||||||||||||||
Commercial | 1 | - | 1 | 55 | - | - | - | ||||||||||||||||||||||
Consumer | 1 | - | 1 | 7 | 1 | 1 | 644 | ||||||||||||||||||||||
Nine months ended | |||||||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||||||||
Troubled Debt Restructurings subsequently defaulted | Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||||||||||||||||
Commercial and industrial | - | $ | - | 1 | $ | 565 | |||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Commercial | - | - | 1 | 190 | |||||||||||||||||||||||||
There were no changes to the recorded investment post modification. No TDRs, modified in the past twelve months, subsequently defaulted in the three months ended September 30, 2014 and 2013. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Accounting Policies [Abstract] | ' |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recent Accounting Pronouncements | |
In June 2013, the FASB issued ASU 2013-08, Financial Services – Investment Companies (Topic 946): Amendments to the Scope, Measurement, and Disclosure Requirements. The amendments in this Update affect the scope, measurement, and disclosure requirements for investment companies under U.S. GAAP. The amendments do all of the following: 1. Change the approach to the investment company assessment in Topic 946, clarify the characteristics of an investment company, and provide comprehensive guidance for assessing whether an entity is an investment Company. 2. Require an investment company to measure noncontrolling ownership interests in other investment companies at fair value rather than using the equity method of accounting. 3. Require the following additional disclosures: (a) the fact that the entity is an investment company and is applying the guidance in Topic 946, (b) information about changes, if any, in an entity’s status as an investment company, and (c) information about financial support provided or contractually required to be provided by an investment company to any of its investees. The amendments in this Update are effective for an entity’s interim and annual reporting periods in fiscal years that begin after December 15, 2013. This ASU became effective for the Company on January 1, 2014 and did not 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. This ASU became effective for the Company on January 1, 2014 and did not have a significant impact on the Company’s financial statements. | |
In January 2014, FASB issued ASU 2014-01, Investments – Equity Method and Joint 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. | |
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 statements. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (a new revenue recognition standard). The Update’s core principle is that a company will recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, this update specifies the accounting for certain costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. This Update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company is evaluating the effect of adopting this new accounting Update. | |
In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this Update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. For repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments also require enhanced disclosures. The accounting changes in this Update are effective for the first interim or annual period beginning after December 15, 2014. An entity is required to present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Earlier application is prohibited. The disclosure for certain transactions accounted for as a sale is required to be presented for interim and annual periods beginning after December 15, 2014, and the disclosure for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The disclosures are not required to be presented for comparative periods before the effective date. This Update is not expected to have a significant impact on the Company’s financial statements. | |
In June 2014, the FASB issued ASU 2014-12, Compensation-Stock Compensation (Topic 718): Accounting for Share-Based Payments when the Terms of an Award Provide that a Performance Target Could Be Achieved After the Requisite Service Period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The amendments in this Update are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this Update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. This Update is not expected to have a significant impact on the Company’s financial statements. | |
In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40). The amendments in this Update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. 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. This Update is not expected to have a significant impact on the Company’s financial statements. | |
In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements -Going Concern (Subtopic 205-40). The amendments in this Update provide guidance in accounting principles generally accepted in the United States of America about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. This Update is not expected to have a significant impact on the Company’s financial statements. |
Note_2_StockBased_Compensation1
Note 2 - Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||
Weighted-average | Weighted-average | ||||||||||||||||
2014 | Exercise Price | 2013 | Exercise Price | ||||||||||||||
Outstanding, January 1 | 58,581 | $ | 28.38 | 79,693 | $ | 26.81 | |||||||||||
Exercised | (1,735 | ) | 30.45 | (21,112 | ) | 24.11 | |||||||||||
Forfeited | (907 | ) | 27.35 | - | - | ||||||||||||
Outstanding, September 30 | 55,939 | 28.34 | 58,581 | 26.38 | |||||||||||||
Exercisable, September 30 | 55,939 | 28.34 | 58,581 | 26.38 |
Note_3_Earnings_Per_Share_Tabl
Note 3 - Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of Weighted Average Number of Shares [Table Text Block] | ' | ||||||||||||||||
For the Three | For the Nine | ||||||||||||||||
Months Ended | Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Weighted-average common shares issued | 2,233,654 | 2,212,020 | 2,228,502 | 2,202,747 | |||||||||||||
Average treasury stock shares | (189,530 | ) | (189,530 | ) | (189,530 | ) | (189,530 | ) | |||||||||
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share | 2,044,124 | 2,022,490 | 2,038,972 | 2,013,217 | |||||||||||||
Additional common stock equivalents (stock options) used to calculate diluted earnings per share | 7,888 | 6,930 | 6,688 | 7,981 | |||||||||||||
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share | 2,052,012 | 2,029,420 | 2,045,660 | 2,021,198 |
Note_4_Fair_Value_Measurements1
Note 4 - Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
(Dollar amounts in thousands) | Level I | Level II | Level III | Total | |||||||||||||||||
Assets measured on a recurring basis: | |||||||||||||||||||||
U.S. government agency securities | $ | - | $ | 22,883 | $ | - | $ | 22,883 | |||||||||||||
Obligations of states and political subdivisions | - | 99,249 | - | 99,249 | |||||||||||||||||
Mortgage-backed securities in government- sponsored entities | 29,984 | 29,984 | |||||||||||||||||||
Private-label mortgage-backed securities | - | 3,122 | - | 3,122 | |||||||||||||||||
Total debt securities | - | 155,238 | - | 155,238 | |||||||||||||||||
Equity securities in financial institutions | 33 | 750 | - | 783 | |||||||||||||||||
Total | $ | 33 | $ | 155,988 | $ | - | $ | 156,021 | |||||||||||||
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 | |||||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | ' | ||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
(Dollar amounts in thousands) | Level I | Level II | Level III | Total | |||||||||||||||||
Assets measured on a nonrecurring basis: | |||||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 13,773 | $ | 13,773 | |||||||||||||
Other real estate owned | - | - | 2,674 | 2,674 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
(Dollar amounts in thousands) | Level I | Level II | Level III | Total | |||||||||||||||||
Assets measured on a nonrecurring basis: | |||||||||||||||||||||
Impaired loans | $ | - | $ | - | $ | 17,158 | $ | 17,158 | |||||||||||||
Other real estate owned | - | - | 2,698 | 2,698 | |||||||||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | ' | ||||||||||||||||||||
Quantitative Information about Level III Fair Value Measurements | |||||||||||||||||||||
(Dollar amounts in thousands) | Fair Value Estimate | Valuation Techniques | Unobservable Input | Range (Weighted Average) | |||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||
Impaired loans | $ | 13,773 | $ | 17,158 | Appraisal of collateral (1) | Appraisal adjustments (2) | -19% | to | -100.00% | -29.30% | |||||||||||
Other real estate owned | $ | 2,674 | $ | 2,698 | Appraisal of collateral (1) | Appraisal adjustments (2) | -10.00% | -10.00% | |||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||
Carrying | Total | ||||||||||||||||||||
Value | Level I | Level II | Level III | Fair Value | |||||||||||||||||
(Dollar amounts in thousands) | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 29,302 | $ | 29,302 | $ | - | $ | - | $ | 29,302 | |||||||||||
Investment securities available for sale | 156,021 | 33 | 155,988 | - | 156,021 | ||||||||||||||||
Loans held for sale | 201 | 201 | - | - | 201 | ||||||||||||||||
Net loans | 460,719 | - | - | 473,103 | 473,103 | ||||||||||||||||
Bank-owned life insurance | 9,022 | 9,022 | - | - | 9,022 | ||||||||||||||||
Federal Home Loan Bank stock | 1,887 | 1,887 | - | - | 1,887 | ||||||||||||||||
Accrued interest receivable | 2,432 | 2,432 | - | - | 2,432 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 600,020 | $ | 422,311 | $ | - | $ | 169,856 | $ | 592,167 | |||||||||||
Short-term borrowings | 5,131 | 5,131 | - | - | 5,131 | ||||||||||||||||
Other borrowings | 11,105 | - | - | 11,347 | 11,347 | ||||||||||||||||
Accrued interest payable | 338 | 338 | - | - | 338 | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||
Carrying | Total | ||||||||||||||||||||
Value | Level I | Level II | Level III | Fair Value | |||||||||||||||||
(Dollar amounts 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 |
Note_5_Accumulated_Other_Compr1
Note 5 - Accumulated Other Comprehensive Income (Tables) | 6 Months Ended | 9 Months Ended | |||||||||||||
Jun. 30, 2014 | Sep. 30, 2014 | ||||||||||||||
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, 2013 | $ | (2,237 | ) | ||||||||||||
Other comprehensive income before reclassification | 3,134 | ||||||||||||||
Amount reclassified from accumulated other comprehensive loss | (38 | ) | |||||||||||||
Period change | 3,096 | ||||||||||||||
Balance at June 30, 2014 | 859 | ||||||||||||||
Other comprehensive income before reclassification | 892 | ||||||||||||||
Amount reclassified from accumulated other comprehensive income | (126 | ) | |||||||||||||
Period change | 766 | ||||||||||||||
Balance at September 30, 2014 | $ | 1,625 | |||||||||||||
Balance as of December 31, 2012 | $ | 5,391 | |||||||||||||
Other comprehensive loss before reclassification | (5,466 | ) | |||||||||||||
Amount reclassified from accumulated other comprehensive loss | (115 | ) | |||||||||||||
Period change | (5,581 | ) | |||||||||||||
Balance at June 30, 2013 | $ | (190 | ) | ||||||||||||
Other comprehensive loss before reclassification | (1,503 | ) | |||||||||||||
Amount reclassified from accumulated other comprehensive loss | - | ||||||||||||||
Period change | (1,503 | ) | |||||||||||||
Balance at September 30, 2013 | $ | (1,693 | ) | ||||||||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | ' | |||||||||||||
Amount Reclassified from | |||||||||||||||
Accumulated Other Comprehensive Income | Affected Line Item in | ||||||||||||||
For the Three Months Ended | the Statement Where | ||||||||||||||
September 30, | Net Income is | ||||||||||||||
Details about other comprehensive income | 2014 | 2013 | Presented | ||||||||||||
Unrealized gains on available-for-sale securities | |||||||||||||||
$ | 190 | $ | - | Investment securities gains, net | |||||||||||
(64 | ) | - | Income taxes | ||||||||||||
$ | 126 | $ | - | Net of tax | |||||||||||
Amount Reclassified from | |||||||||||||||
Accumulated Other Comprehensive Income | Affected Line Item in | ||||||||||||||
For the Nine Months Ended | the Statement Where | ||||||||||||||
September 30, | Net Income is | ||||||||||||||
Details about other comprehensive income | 2014 | 2013 | Presented | ||||||||||||
Unrealized gains on available-for-sale securities | |||||||||||||||
$ | 248 | $ | 175 | Investment securities gains, net | |||||||||||
(84 | ) | (60 | ) | Income taxes | |||||||||||
$ | 164 | $ | 115 | Net of tax |
Note_6_Investment_Securities_A1
Note 6 - Investment Securities Available For Sale (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | ||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
(Dollar amounts in thousands) | Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. government agency securities | $ | 23,323 | $ | 244 | $ | (684 | ) | $ | 22,883 | ||||||||||||||||
Obligations of states and political subdivisions: | |||||||||||||||||||||||||
Taxable | 2,955 | 171 | - | 3,126 | |||||||||||||||||||||
Tax-exempt | 93,609 | 3,633 | (1,119 | ) | 96,123 | ||||||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 30,080 | 368 | (464 | ) | 29,984 | ||||||||||||||||||||
Private-label mortgage-backed securities | 2,841 | 281 | - | 3,122 | |||||||||||||||||||||
Total debt securities | 152,808 | 4,697 | (2,267 | ) | 155,238 | ||||||||||||||||||||
Equity securities in financial institutions | 750 | 33 | - | 783 | |||||||||||||||||||||
Total | $ | 153,558 | $ | 4,730 | $ | (2,267 | ) | $ | 156,021 | ||||||||||||||||
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 | ||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||||
(Dollar amounts in thousands) | Cost | Value | |||||||||||||||||||||||
Due in one year or less | $ | 1,340 | $ | 1,364 | |||||||||||||||||||||
Due after one year through five years | 5,979 | 6,281 | |||||||||||||||||||||||
Due after five years through ten years | 22,075 | 22,417 | |||||||||||||||||||||||
Due after ten years | 123,414 | 125,176 | |||||||||||||||||||||||
Total | $ | 152,808 | $ | 155,238 | |||||||||||||||||||||
Realized Gain (Loss) on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
(Dollar amounts in thousands) | For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Proceeds from sales | $ | 6,888 | $ | - | $ | 8,382 | $ | 8,136 | |||||||||||||||||
Gross realized gains | 227 | - | 291 | 204 | |||||||||||||||||||||
Gross realized losses | (37 | ) | - | (43 | ) | (29 | ) | ||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
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 | $ | - | $ | - | $ | 15,636 | $ | (684 | ) | $ | 15,636 | $ | (684 | ) | |||||||||||
Obligations of states and political subdivisions | 4,343 | (20 | ) | 19,145 | (1,099 | ) | 23,488 | (1,119 | ) | ||||||||||||||||
Mortgage-backed securities in government-sponsored entities | 1,068 | (5 | ) | 19,707 | (459 | ) | 20,775 | (464 | ) | ||||||||||||||||
Total | $ | 5,411 | $ | (25 | ) | $ | 54,488 | $ | (2,242 | ) | $ | 59,899 | $ | (2,267 | ) | ||||||||||
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 | ) |
Note_7_Loans_and_Related_Allow1
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||
Commercial and industrial | $ | 58,874 | $ | 54,498 | |||||||||||||||||||||||||
Real estate - construction | 29,287 | 25,601 | |||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 224,223 | 210,310 | |||||||||||||||||||||||||||
Commercial | 149,488 | 141,171 | |||||||||||||||||||||||||||
Consumer installment | 6,135 | 4,145 | |||||||||||||||||||||||||||
468,007 | 435,725 | ||||||||||||||||||||||||||||
Less allowance for loan and lease losses | 7,288 | 7,046 | |||||||||||||||||||||||||||
Net loans | $ | 460,719 | $ | 428,679 | |||||||||||||||||||||||||
Schedule of Financing Receivable by Segment [Table Text Block] | ' | ||||||||||||||||||||||||||||
Real Estate- Mortgage | |||||||||||||||||||||||||||||
30-Sep-14 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,567 | $ | 3,459 | $ | 5,503 | $ | 4,996 | $ | 7 | $ | 15,532 | |||||||||||||||||
Collectively evaluated for impairment | 57,307 | 25,828 | 218,720 | 144,492 | 6,128 | 452,475 | |||||||||||||||||||||||
Total loans | $ | 58,874 | $ | 29,287 | $ | 224,223 | $ | 149,488 | $ | 6,135 | $ | 468,007 | |||||||||||||||||
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 | |||||||||||||||||
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block] | ' | ||||||||||||||||||||||||||||
Real Estate- Mortgage | |||||||||||||||||||||||||||||
30-Sep-14 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Allowance for loan and lease losses: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 79 | $ | 600 | $ | 907 | $ | 170 | $ | 3 | $ | 1,759 | |||||||||||||||||
Collectively evaluated for impairment | 607 | 243 | 3,043 | 1,584 | 52 | 5,529 | |||||||||||||||||||||||
Total ending allowance balance | $ | 686 | $ | 843 | $ | 3,950 | $ | 1,754 | $ | 55 | $ | 7,288 | |||||||||||||||||
Real Estate- Mortgage | |||||||||||||||||||||||||||||
31-Dec-13 | Commercial and industrial | Real estate- construction | Residential | Commercial | Consumer installment | Total | |||||||||||||||||||||||
Allowance for loan and lease losses: | |||||||||||||||||||||||||||||
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 | |||||||||||||||||
Commercial and industrial | Real estate- construction | Real estate- residential mortgage | Real estate- commercial mortgage | Consumer installment | Total | ||||||||||||||||||||||||
ALLL balance at December 31, 2013 | $ | 614 | $ | 576 | $ | 3,664 | $ | 2,170 | $ | 22 | $ | 7,046 | |||||||||||||||||
Charge-offs | (95 | ) | - | (481 | ) | - | (40 | ) | (616 | ) | |||||||||||||||||||
Recoveries | 88 | 60 | 289 | 40 | 11 | 488 | |||||||||||||||||||||||
Provision | 79 | 207 | 478 | (456 | ) | 62 | 370 | ||||||||||||||||||||||
ALLL balance at September 30, 2014 | $ | 686 | $ | 843 | $ | 3,950 | $ | 1,754 | $ | 55 | $ | 7,288 | |||||||||||||||||
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 | (325 | ) | (190 | ) | (432 | ) | - | (41 | ) | (988 | ) | ||||||||||||||||||
Recoveries | 92 | 33 | 73 | 46 | 20 | 264 | |||||||||||||||||||||||
Provision | (711 | ) | 333 | 1,126 | 36 | (18 | ) | 766 | |||||||||||||||||||||
ALLL balance at September 30, 2013 | $ | 788 | $ | 1,299 | $ | 3,639 | $ | 2,073 | $ | 22 | $ | 7,821 | |||||||||||||||||
Commercial and industrial | Real estate- construction | Real estate- residential mortgage | Real estate- commercial mortgage | Consumer installment | Total | ||||||||||||||||||||||||
ALLL balance at June 30, 2014 | $ | 596 | $ | 423 | $ | 4,130 | $ | 1,925 | $ | 55 | $ | 7,129 | |||||||||||||||||
Charge-offs | (3 | ) | - | (24 | ) | - | (5 | ) | (32 | ) | |||||||||||||||||||
Recoveries | 23 | - | 94 | - | 4 | 121 | |||||||||||||||||||||||
Provision | 70 | 420 | (250 | ) | (171 | ) | 1 | 70 | |||||||||||||||||||||
ALLL balance at September 30, 2014 | $ | 686 | $ | 843 | $ | 3,950 | $ | 1,754 | $ | 55 | $ | 7,288 | |||||||||||||||||
Commercial and industrial | Real estate- construction | Real estate- residential mortgage | Real estate- commercial mortgage | Consumer installment | Total | ||||||||||||||||||||||||
ALLL balance at June 30, 2013 | $ | 875 | $ | 1,191 | $ | 3,626 | $ | 2,005 | $ | 52 | $ | 7,749 | |||||||||||||||||
Charge-offs | - | - | (87 | ) | - | (5 | ) | (92 | ) | ||||||||||||||||||||
Recoveries | - | - | 2 | - | 9 | 11 | |||||||||||||||||||||||
Provision | (87 | ) | 108 | 98 | 68 | (34 | ) | 153 | |||||||||||||||||||||
ALLL balance at September 30, 2013 | $ | 788 | $ | 1,299 | $ | 3,639 | $ | 2,073 | $ | 22 | $ | 7,821 | |||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | |||||||||||||||||||||||||||
Investment | Principal Balance | Allowance | |||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,217 | $ | 1,216 | $ | - | |||||||||||||||||||||||
Real estate - construction | 2,859 | 2,859 | - | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 2,542 | 2,538 | - | ||||||||||||||||||||||||||
Commercial | 4,147 | 4,143 | - | ||||||||||||||||||||||||||
Consumer installment | - | - | - | ||||||||||||||||||||||||||
Total | $ | 10,765 | $ | 10,756 | $ | - | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 350 | $ | 350 | $ | 79 | |||||||||||||||||||||||
Real estate - construction | 600 | 600 | 600 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 2,961 | 2,959 | 907 | ||||||||||||||||||||||||||
Commercial | 849 | 848 | 170 | ||||||||||||||||||||||||||
Consumer installment | 7 | 7 | 3 | ||||||||||||||||||||||||||
Total | $ | 4,767 | $ | 4,764 | $ | 1,759 | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 1,567 | $ | 1,566 | $ | 79 | |||||||||||||||||||||||
Real estate - construction | 3,459 | 3,459 | 600 | ||||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,503 | 5,497 | 907 | ||||||||||||||||||||||||||
Commercial | 4,996 | 4,991 | 170 | ||||||||||||||||||||||||||
Consumer installment | 7 | 7 | 3 | ||||||||||||||||||||||||||
Total | $ | 15,532 | $ | 15,520 | $ | 1,759 | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | |||||||||||||||||||||||||||
Investment | Principal 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 | ||||||||||||||||||||||||||
Consumer installment | - | - | - | ||||||||||||||||||||||||||
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 | |||||||||||||||||||||||
Schedule of Additional Information Related to Impaired Loans [Table Text Block] | ' | ||||||||||||||||||||||||||||
For the Three Months Ended September 30, 2014 | For the Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||||
Commercial and industrial | $ | 1,842 | $ | 22 | $ | 2,107 | $ | 71 | |||||||||||||||||||||
Real estate - construction | 3,556 | 38 | 3,644 | 119 | |||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,328 | 62 | 5,319 | 164 | |||||||||||||||||||||||||
Commercial | 5,192 | 83 | 5,678 | 241 | |||||||||||||||||||||||||
Consumer installment | 11 | - | 12 | - | |||||||||||||||||||||||||
For the Three Months Ended September 30, 2013 | For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||||
Commercial and industrial | $ | 2,643 | $ | 15 | $ | 2,687 | $ | 70 | |||||||||||||||||||||
Real estate - construction | 3,850 | 58 | 3,499 | 95 | |||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 5,274 | 69 | 4,937 | 143 | |||||||||||||||||||||||||
Commercial | 6,669 | 106 | 6,018 | 216 | |||||||||||||||||||||||||
Consumer installment | 14 | 1 | 18 | 1 | |||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||||||||
Special | Total | ||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loans | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 56,619 | $ | 718 | $ | 1,498 | $ | 39 | $ | 58,874 | |||||||||||||||||||
Real estate - construction | 28,687 | - | - | 600 | 29,287 | ||||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 212,706 | 899 | 10,618 | - | 224,223 | ||||||||||||||||||||||||
Commercial | 145,464 | 163 | 3,861 | - | 149,488 | ||||||||||||||||||||||||
Consumer installment | 6,112 | - | 23 | - | 6,135 | ||||||||||||||||||||||||
Total | $ | 449,588 | $ | 1,780 | $ | 16,000 | $ | 639 | $ | 468,007 | |||||||||||||||||||
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 | |||||||||||||||||||
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 | |||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||
Commercial and industrial | $ | 58,231 | $ | 56 | $ | 66 | $ | 1 | $ | 122 | $ | 521 | $ | 58,874 | |||||||||||||||
Real estate - construction | 28,687 | - | - | - | - | 600 | 29,287 | ||||||||||||||||||||||
Real estate - mortgage: | |||||||||||||||||||||||||||||
Residential | 215,999 | 1,128 | 139 | 24 | 1,292 | 6,932 | 224,223 | ||||||||||||||||||||||
Commercial | 147,938 | 559 | 163 | - | 722 | 828 | 149,488 | ||||||||||||||||||||||
Consumer installment | 6,095 | 21 | 1 | - | 22 | 17 | 6,135 | ||||||||||||||||||||||
Total | $ | 456,951 | $ | 1,765 | $ | 369 | $ | 25 | $ | 2,158 | $ | 8,898 | $ | 468,007 | |||||||||||||||
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 | |||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
For the three months ended | |||||||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding | Number of Contracts | Pre-Modification Outstanding | ||||||||||||||||||||||||||
Troubled Debt Restructurings | Term Modification | Other | Total | Recorded Investment | Term Modification | Total | Recorded Investment | ||||||||||||||||||||||
Commercial and industrial | 1 | - | 1 | $ | 75 | 1 | 1 | $ | 137 | ||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | 2 | - | 2 | 165 | - | - | - | ||||||||||||||||||||||
Commercial | - | - | - | - | - | - | - | ||||||||||||||||||||||
Consumer | - | - | - | - | - | - | - | ||||||||||||||||||||||
For the nine months ended | |||||||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||||||||
Number of Contracts | Pre-Modification Outstanding | Number of Contracts | Pre-Modification Outstanding | ||||||||||||||||||||||||||
Troubled Debt Restructurings | Term Modification | Other | Total | Recorded Investment | Term Modification | Total | Recorded Investment | ||||||||||||||||||||||
Commercial and industrial | 2 | - | 2 | $ | 75 | 6 | 6 | $ | 879 | ||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Residential | 3 | - | 3 | 198 | 2 | 2 | 383 | ||||||||||||||||||||||
Commercial | 1 | - | 1 | 55 | - | - | - | ||||||||||||||||||||||
Consumer | 1 | - | 1 | 7 | 1 | 1 | 644 | ||||||||||||||||||||||
Subsequently Defaulted [Member] | ' | ||||||||||||||||||||||||||||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
Nine months ended | |||||||||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||||||||
Troubled Debt Restructurings subsequently defaulted | Number of Contracts | Recorded Investment | Number of Contracts | Recorded Investment | |||||||||||||||||||||||||
Commercial and industrial | - | $ | - | 1 | $ | 565 | |||||||||||||||||||||||
Real estate- mortgage: | |||||||||||||||||||||||||||||
Commercial | - | - | 1 | 190 |
Note_2_StockBased_Compensation2
Note 2 - Stock-Based Compensation (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 |
Disclosure Text Block Supplement [Abstract] | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $0 | $0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares | 0 | 0 |
Note_2_StockBased_Compensation3
Note 2 - Stock-Based Compensation (Details) - Stock Option Activity (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Stock Option Activity [Abstract] | ' | ' |
Outstanding, January 1 | 58,581 | 79,693 |
Outstanding, January 1 | $28.38 | $26.81 |
Exercised | -1,735 | -21,112 |
Exercised | $30.45 | $24.11 |
Forfeited | -907 | ' |
Forfeited | $27.35 | ' |
Outstanding, September 30 | 55,939 | 58,581 |
Outstanding, September 30 | $28.34 | $26.38 |
Exercisable, September 30 | 55,939 | 58,581 |
Exercisable, September 30 | $28.34 | $26.38 |
Note_3_Earnings_Per_Share_Deta
Note 3 - Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 3 - Earnings Per Share (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 55,939 | 58,581 | 55,939 | 58,581 | 58,581 | 79,693 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit (in Dollars per share) | ' | ' | $17.55 | $17.55 | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit (in Dollars per share) | ' | ' | $40.24 | $40.24 | ' | ' |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 7,888 | 6,930 | 6,688 | 7,981 | ' | ' |
Equity Option [Member] | ' | ' | ' | ' | ' | ' |
Note 3 - Earnings Per Share (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 27,375 | 29,633 | 28,282 | 49,394 | ' | ' |
Note_3_Earnings_Per_Share_Deta1
Note 3 - Earnings Per Share (Details) - Shares Used in Calculation of Earnings Per Share | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Shares Used in Calculation of Earnings Per Share [Abstract] | ' | ' | ' | ' |
Weighted-average common shares issued | 2,233,654 | 2,212,020 | 2,228,502 | 2,202,747 |
Average treasury stock shares | -189,530 | -189,530 | -189,530 | -189,530 |
Weighted-average common shares and common stock equivalents used to calculate basic earnings per share | 2,044,124 | 2,022,490 | 2,038,972 | 2,013,217 |
Additional common stock equivalents (stock options) used to calculate diluted earnings per share | 7,888 | 6,930 | 6,688 | 7,981 |
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share | 2,052,012 | 2,029,420 | 2,045,660 | 2,021,198 |
Note_4_Fair_Value_Measurements2
Note 4 - Fair Value Measurements (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Note 4 - Fair Value Measurements (Details) [Line Items] | ' | ' |
Available-for-sale Securities, Current | $156,021,000 | $157,143,000 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Note 4 - Fair Value Measurements (Details) [Line Items] | ' | ' |
Available-for-sale Securities, Current | $0 | $0 |
Note_4_Fair_Value_Measurements3
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | $156,021,000 | $157,143,000 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 22,883,000 | 25,763,000 |
US Government Agencies Debt Securities [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 22,883,000 | 25,763,000 |
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 | 99,249,000 | 88,614,000 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 99,249,000 | 88,614,000 |
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 | 29,984,000 | 38,323,000 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 29,984,000 | 38,323,000 |
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 | 3,122,000 | 3,693,000 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 3,122,000 | 3,693,000 |
Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 155,238,000 | 156,393,000 |
Debt Securities [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 155,238,000 | 156,393,000 |
Equity Securities in Financial Institutions [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 33,000 | 5,000 |
Equity Securities in Financial Institutions [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 750,000 | 745,000 |
Equity Securities in Financial Institutions [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 783,000 | 750,000 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 33,000 | 5,000 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | 155,988,000 | 157,138,000 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets measured on a recurring basis: | ' | ' |
Assets Measured on a Recurring Basis | $0 | $0 |
Note_4_Fair_Value_Measurements4
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Nonrecurring Basis (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets measured on a nonrecurring basis: | ' | ' |
Impaired loans | $15,532 | $18,965 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets measured on a nonrecurring basis: | ' | ' |
Impaired loans | 13,773 | 17,158 |
Other real estate owned | 2,674 | 2,698 |
Estimate of Fair Value Measurement [Member] | ' | ' |
Assets measured on a nonrecurring basis: | ' | ' |
Impaired loans | 13,773 | 17,158 |
Other real estate owned | $2,674 | $2,698 |
Note_4_Fair_Value_Measurements5
Note 4 - Fair Value Measurements (Details) - Additional Quantitative Information About Assets Measured at Fair Value on Non-Recurring Basis (Appraisal Adjustments [Member], USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | |
Impaired Loans [Member] | Minimum [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Range (Weighted Average) | -19.00% | ' | |
Impaired Loans [Member] | Maximum [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Range (Weighted Average) | -100.00% | ' | |
Impaired Loans [Member] | Weighted Average [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Range (Weighted Average) | -29.30% | ' | |
Impaired Loans [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Fair Value Estimate (in Dollars) | $13,773 | $17,158 | |
Valuation Techniques/Unobservable Input | 'Appraisal of collateral (1) | [1] | ' |
Other Real Estate Owned [Member] | Weighted Average [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Range (Weighted Average) | -10.00% | ' | |
Other Real Estate Owned [Member] | ' | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | |
Fair Value Estimate (in Dollars) | $2,674 | $2,698 | |
Valuation Techniques/Unobservable Input | 'Appraisal of collateral (1) | [1] | ' |
Range (Weighted Average) | -10.00% | ' | |
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. |
Note_4_Fair_Value_Measurements6
Note 4 - Fair Value Measurements (Details) - Estimated Fair Value of the Companybs Financial Instruments (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | $29,302 | $26,193 | $32,193 | $45,346 |
Cash and cash equivalents | 29,302 | 26,193 | ' | ' |
Available for sale | 156,021 | 157,143 | ' | ' |
Available for sale | 156,021 | 157,143 | ' | ' |
Loans held for sale | 201 | ' | ' | ' |
Loans held for sale | 201 | ' | ' | ' |
Net loans | 460,719 | 428,679 | ' | ' |
Net loans | 473,103 | 430,502 | ' | ' |
Bank-owned life insurance | 9,022 | 8,816 | ' | ' |
Federal Home Loan Bank stock | 1,887 | 1,887 | ' | ' |
Accrued interest receivable | 2,432 | 2,135 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 600,020 | 568,836 | ' | ' |
Deposits | 592,167 | 570,276 | ' | ' |
Short-term borrowings | 5,131 | 10,809 | ' | ' |
Short-term borrowings | 5,131 | 10,809 | ' | ' |
Other borrowings | 11,105 | 11,609 | ' | ' |
Other borrowings | 11,347 | 11,787 | ' | ' |
Accrued interest payable | 338 | 364 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and cash equivalents | 29,302 | 26,193 | ' | ' |
Available for sale | 33 | 5 | ' | ' |
Available for sale | 33 | 5 | ' | ' |
Loans held for sale | 201 | ' | ' | ' |
Bank-owned life insurance | 9,022 | 8,816 | ' | ' |
Federal Home Loan Bank stock | 1,887 | 1,887 | ' | ' |
Accrued interest receivable | 2,432 | 2,135 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 422,311 | 394,422 | ' | ' |
Short-term borrowings | 5,131 | 10,809 | ' | ' |
Accrued interest payable | 338 | 364 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Available for sale | 155,988 | 157,138 | ' | ' |
Available for sale | 155,988 | 157,138 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Net loans | 473,103 | 430,502 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits | 169,856 | 175,854 | ' | ' |
Other borrowings | $11,347 | $11,787 | ' | ' |
Note_5_Accumulated_Other_Compr2
Note 5 - Accumulated Other Comprehensive Income (Details) - Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 30, 2013 | |||||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax [Abstract] | ' | ' | ' | ' | ' | ' | ' | |||||||
Balance | $859 | [1] | ($190) | [1] | ($2,237) | $5,391 | [1] | ($2,237) | $5,391 | [1] | ($2,237) | [1] | ||
Period change | 766 | [1] | -1,503 | [1] | 3,096 | [1] | -5,581 | [1] | 3,862 | -7,084 | ' | |||
Balance | 1,625 | [1] | -1,693 | [1] | 859 | [1] | -190 | [1] | 1,625 | [1] | -1,693 | [1] | -2,237 | [1] |
Other comprehensive Income (loss) before reclassification | 892 | [1] | -1,503 | [1] | 3,134 | [1] | -5,466 | [1] | ' | ' | ' | |||
Amount reclassified from accumulated other comprehensive income (loss) | ($126) | [1] | ' | [1] | ($38) | [1] | ($115) | [1] | ' | ' | ' | |||
[1] | All amounts are net of tax. Amounts in parentheses indicate debits. |
Note_5_Accumulated_Other_Compr3
Note 5 - Accumulated Other Comprehensive Income (Details) - Significant Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Unrealized gains on available-for-sale securities | ' | ' | ' | ' |
$ | $190 | $0 | $248 | $175 |
-64 | 0 | -84 | -60 | |
$ | $126 | $0 | $164 | $115 |
Note_6_Investment_Securities_A2
Note 6 - Investment Securities Available For Sale (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
In Millions, unless otherwise specified | Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | Three Months Ending [Member] | Three Months Ending [Member] | ||
Available-for-sale Securities [Member] | Available-for-sale Securities [Member] | |||||
Note 6 - Investment Securities Available For Sale (Details) [Line Items] | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities Pledged as Collateral (in Dollars) | $62.90 | $66.30 | ' | ' | ' | ' |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 75 | ' | 0 | 0 | 0 | 0 |
Percentage of Portfolio | 97.00% | ' | ' | ' | ' | ' |
Note_6_Investment_Securities_A3
Note 6 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 6 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Amortized Cost | $153,558 | $160,532 |
Gross Unrealized Gains | 4,730 | 2,605 |
Gross Unrealized Losses | -2,267 | -5,994 |
Fair Value | 156,021 | 157,143 |
US Government Agencies Debt Securities [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Amortized Cost | 23,323 | 27,289 |
Gross Unrealized Gains | 244 | 135 |
Gross Unrealized Losses | -684 | -1,661 |
Fair Value | 22,883 | 25,763 |
US States and Political Subdivisions Debt Securities [Member] | Taxable [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Amortized Cost | 2,955 | 3,787 |
Gross Unrealized Gains | 171 | 46 |
Gross Unrealized Losses | ' | -38 |
Fair Value | 3,126 | 3,795 |
US States and Political Subdivisions Debt Securities [Member] | Tax-exempt [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Amortized Cost | 93,609 | 86,524 |
Gross Unrealized Gains | 3,633 | 1,562 |
Gross Unrealized Losses | -1,119 | -3,267 |
Fair Value | 96,123 | 84,819 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Amortized Cost | 30,080 | 38,816 |
Gross Unrealized Gains | 368 | 535 |
Gross Unrealized Losses | -464 | -1,028 |
Fair Value | 29,984 | 38,323 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Amortized Cost | 2,841 | 3,366 |
Gross Unrealized Gains | 281 | 327 |
Fair Value | 3,122 | 3,693 |
Debt Securities [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Amortized Cost | 152,808 | 159,782 |
Gross Unrealized Gains | 4,697 | 2,605 |
Gross Unrealized Losses | -2,267 | -5,994 |
Fair Value | 155,238 | 156,393 |
Equity Securities in Financial Institutions [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ' | ' |
Amortized Cost | 750 | 750 |
Gross Unrealized Gains | 33 | ' |
Fair Value | $783 | $750 |
Note_6_Investment_Securities_A4
Note 6 - Investment Securities Available For Sale (Details) - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity [Abstract] | ' |
Due in one year or less | $1,340 |
Due in one year or less | 1,364 |
Due after one year through five years | 5,979 |
Due after one year through five years | 6,281 |
Due after five years through ten years | 22,075 |
Due after five years through ten years | 22,417 |
Due after ten years | 123,414 |
Due after ten years | 125,176 |
Total | 152,808 |
Total | $155,238 |
Note_6_Investment_Securities_A5
Note 6 - Investment Securities Available For Sale (Details) - Sales of Available for Sale Securities (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Sales of Available for Sale Securities [Abstract] | ' | ' | ' | ' |
Proceeds from sales | $6,888 | $0 | $8,382 | $8,136 |
Gross realized gains | 227 | 0 | 291 | 204 |
Gross realized losses | ($37) | $0 | ($43) | ($29) |
Note_6_Investment_Securities_A6
Note 6 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 6 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | $5,411 | $59,255 |
Less than Twelve Months, Gross Unrealized Losses | -25 | -4,608 |
Twelve Months or Greater, Fair Value | 54,488 | 15,092 |
Twelve Months or Greater, Gross Unrealized Losses | -2,242 | -1,386 |
Total, Fair Value | 59,899 | 74,347 |
Total, Gross Unrealized Losses | -2,267 | -5,994 |
US Government Agencies Debt Securities [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | ' | 13,130 |
Less than Twelve Months, Gross Unrealized Losses | ' | -929 |
Twelve Months or Greater, Fair Value | 15,636 | 7,166 |
Twelve Months or Greater, Gross Unrealized Losses | -684 | -732 |
Total, Fair Value | 15,636 | 20,295 |
Total, Gross Unrealized Losses | -684 | -1,661 |
US States and Political Subdivisions Debt Securities [Member] | Taxable [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | ' | 1,301 |
Less than Twelve Months, Gross Unrealized Losses | ' | -38 |
Total, Fair Value | ' | 1,301 |
Total, Gross Unrealized Losses | ' | -38 |
US States and Political Subdivisions Debt Securities [Member] | Tax-exempt [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | ' | 26,743 |
Less than Twelve Months, Gross Unrealized Losses | ' | -2,883 |
Twelve Months or Greater, Fair Value | ' | 2,678 |
Twelve Months or Greater, Gross Unrealized Losses | ' | -383 |
Total, Fair Value | ' | 29,421 |
Total, Gross Unrealized Losses | ' | -3,267 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | 4,343 | ' |
Less than Twelve Months, Gross Unrealized Losses | -20 | ' |
Twelve Months or Greater, Fair Value | 19,145 | ' |
Twelve Months or Greater, Gross Unrealized Losses | -1,099 | ' |
Total, Fair Value | 23,488 | ' |
Total, Gross Unrealized Losses | -1,119 | ' |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ' | ' |
Note 6 - Investment Securities Available For Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ' | ' |
Less than Twelve Months, Fair Value | 1,068 | 18,082 |
Less than Twelve Months, Gross Unrealized Losses | -5 | -757 |
Twelve Months or Greater, Fair Value | 19,707 | 5,248 |
Twelve Months or Greater, Gross Unrealized Losses | -459 | -271 |
Total, Fair Value | 20,775 | 23,330 |
Total, Gross Unrealized Losses | ($464) | ($1,028) |
Note_7_Loans_and_Related_Allow2
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | |
Commercial Real Estate Mortgage [Member] | Commercial Real Estate Mortgage [Member] | Commercial Real Estate Mortgage [Member] | Commercial Real Estate Mortgage [Member] | Commercial Real Estate Mortgage [Member] | Commercial Real Estate Mortgage [Member] | Commercial Real Estate Mortgage [Member] | Threshold for Loans Evaluated for Impairment [Member] | Threshold for Loans Evaluated for Impairment [Member] | ||||||||
Commercial Real Estate Provision [Member] | Outside Consultant [Member] | Criticized Relationships [Member] | ||||||||||||||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payoff of Loans Receivable | ' | ' | ' | ' | ' | ' | ' | ' | $2,100,000 | ' | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Commercial | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | ' |
Financing Receivable, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 |
Loans and Leases Receivable, Allowance | 7,288,000 | 7,821,000 | 7,288,000 | 7,129,000 | 7,046,000 | 7,749,000 | 7,779,000 | 352,000 | 1,754,000 | 2,073,000 | 1,925,000 | 2,170,000 | 2,005,000 | 1,991,000 | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | ' | ' | $0 | ' | ' | ' | ' | ' | $0 | $190,000 | ' | ' | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | ' | ' | ' | ' | ' | ' | 0 | 1 | ' | ' | ' | ' | ' | ' |
Note_7_Loans_and_Related_Allow3
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Major Classifications of Net Loans (USD $) | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable Gross | $468,007,000 | ' | $435,725,000 | ' | ' | ' |
Less allowance for loan and lease losses | 7,288,000 | 7,129,000 | 7,046,000 | 7,821,000 | 7,749,000 | 7,779,000 |
Net loans | 460,719,000 | ' | 428,679,000 | ' | ' | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable Gross | 58,874,000 | ' | 54,498,000 | ' | ' | ' |
Less allowance for loan and lease losses | 686,000 | 596,000 | 614,000 | 788,000 | 875,000 | 1,732,000 |
Real Estate Construction [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable Gross | 29,287,000 | ' | 25,601,000 | ' | ' | ' |
Less allowance for loan and lease losses | 843,000 | 423,000 | 576,000 | 1,299,000 | 1,191,000 | 1,123,000 |
Residential Real Estate Mortgage [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable Gross | 224,223,000 | ' | 210,310,000 | ' | ' | ' |
Less allowance for loan and lease losses | 3,950,000 | 4,130,000 | 3,664,000 | 3,639,000 | 3,626,000 | 2,872,000 |
Commercial Real Estate Mortgage [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable Gross | 149,488,000 | ' | 141,171,000 | ' | ' | ' |
Less allowance for loan and lease losses | 1,754,000 | 1,925,000 | 2,170,000 | 2,073,000 | 2,005,000 | 1,991,000 |
Consumer Installment [Member] | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' |
Financing Receivable Gross | 6,135,000 | ' | 4,145,000 | ' | ' | ' |
Less allowance for loan and lease losses | $55,000 | $55,000 | $22,000 | $22,000 | $52,000 | $61,000 |
Note_7_Loans_and_Related_Allow4
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Primary Segments of the Loan Portfolio (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loans: | ' | ' |
Individually evaluated for impairment | $15,532 | $18,965 |
Collectively evaluated for impairment | 452,475 | 416,760 |
Total loans | 468,007 | 435,725 |
Commercial and Industrial [Member] | ' | ' |
Loans: | ' | ' |
Individually evaluated for impairment | 1,567 | 1,891 |
Collectively evaluated for impairment | 57,307 | 52,607 |
Total loans | 58,874 | 54,498 |
Real Estate Construction [Member] | ' | ' |
Loans: | ' | ' |
Individually evaluated for impairment | 3,459 | 4,011 |
Collectively evaluated for impairment | 25,828 | 21,590 |
Total loans | 29,287 | 25,601 |
Residential Real Estate Mortgage [Member] | ' | ' |
Loans: | ' | ' |
Individually evaluated for impairment | 5,503 | 5,882 |
Collectively evaluated for impairment | 218,720 | 204,428 |
Total loans | 224,223 | 210,310 |
Commercial Real Estate Mortgage [Member] | ' | ' |
Loans: | ' | ' |
Individually evaluated for impairment | 4,996 | 7,175 |
Collectively evaluated for impairment | 144,492 | 133,996 |
Total loans | 149,488 | 141,171 |
Consumer Installment [Member] | ' | ' |
Loans: | ' | ' |
Individually evaluated for impairment | 7 | 6 |
Collectively evaluated for impairment | 6,128 | 4,139 |
Total loans | $6,135 | $4,145 |
Note_7_Loans_and_Related_Allow5
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Allowance for Loan Losses (USD $) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | $1,759,000 | ' | $1,759,000 | ' | ' | $1,807,000 | ' | ' |
Collectively evaluated for impairment | 5,529,000 | ' | 5,529,000 | ' | ' | 5,239,000 | ' | ' |
Balance | 7,288,000 | 7,821,000 | 7,288,000 | 7,821,000 | 7,129,000 | 7,046,000 | 7,749,000 | 7,779,000 |
Charge-offs | -32,000 | -92,000 | -616,000 | -988,000 | ' | ' | ' | ' |
Recoveries | 121,000 | 11,000 | 488,000 | 264,000 | ' | ' | ' | ' |
Provision | 70,000 | 153,000 | 370,000 | 766,000 | ' | ' | ' | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 79,000 | ' | 79,000 | ' | ' | 179,000 | ' | ' |
Collectively evaluated for impairment | 607,000 | ' | 607,000 | ' | ' | 435,000 | ' | ' |
Balance | 686,000 | 788,000 | 686,000 | 788,000 | 596,000 | 614,000 | 875,000 | 1,732,000 |
Charge-offs | -3,000 | ' | -95,000 | -325,000 | ' | ' | ' | ' |
Recoveries | 23,000 | ' | 88,000 | 92,000 | ' | ' | ' | ' |
Provision | 70,000 | -87,000 | 79,000 | -711,000 | ' | ' | ' | ' |
Real Estate Construction [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 600,000 | ' | 600,000 | ' | ' | 210,000 | ' | ' |
Collectively evaluated for impairment | 243,000 | ' | 243,000 | ' | ' | 366,000 | ' | ' |
Balance | 843,000 | 1,299,000 | 843,000 | 1,299,000 | 423,000 | 576,000 | 1,191,000 | 1,123,000 |
Charge-offs | ' | ' | ' | -190,000 | ' | ' | ' | ' |
Recoveries | ' | ' | 60,000 | 33,000 | ' | ' | ' | ' |
Provision | 420,000 | 108,000 | 207,000 | 333,000 | ' | ' | ' | ' |
Residential Real Estate Mortgage [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 907,000 | ' | 907,000 | ' | ' | 855,000 | ' | ' |
Collectively evaluated for impairment | 3,043,000 | ' | 3,043,000 | ' | ' | 2,809,000 | ' | ' |
Balance | 3,950,000 | 3,639,000 | 3,950,000 | 3,639,000 | 4,130,000 | 3,664,000 | 3,626,000 | 2,872,000 |
Charge-offs | -24,000 | -87,000 | -481,000 | -432,000 | ' | ' | ' | ' |
Recoveries | 94,000 | 2,000 | 289,000 | 73,000 | ' | ' | ' | ' |
Provision | -250,000 | 98,000 | 478,000 | 1,126,000 | ' | ' | ' | ' |
Commercial Real Estate Mortgage [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 170,000 | ' | 170,000 | ' | ' | 563,000 | ' | ' |
Collectively evaluated for impairment | 1,584,000 | ' | 1,584,000 | ' | ' | 1,607,000 | ' | ' |
Balance | 1,754,000 | 2,073,000 | 1,754,000 | 2,073,000 | 1,925,000 | 2,170,000 | 2,005,000 | 1,991,000 |
Recoveries | ' | ' | 40,000 | 46,000 | ' | ' | ' | ' |
Provision | -171,000 | 68,000 | -456,000 | 36,000 | ' | ' | ' | ' |
Consumer Installment [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Ending allowance balance attributable to loans: | ' | ' | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 3,000 | ' | 3,000 | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 52,000 | ' | 52,000 | ' | ' | 22,000 | ' | ' |
Balance | 55,000 | 22,000 | 55,000 | 22,000 | 55,000 | 22,000 | 52,000 | 61,000 |
Charge-offs | -5,000 | -5,000 | -40,000 | -41,000 | ' | ' | ' | ' |
Recoveries | 4,000 | 9,000 | 11,000 | 20,000 | ' | ' | ' | ' |
Provision | $1,000 | ($34,000) | $62,000 | ($18,000) | ' | ' | ' | ' |
Note_7_Loans_and_Related_Allow6
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Impaired Loans by Class (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
With no related allowance recorded: | ' | ' |
Impaired loans with no related allowance recorded investment | $10,765 | $9,284 |
Impaired loans with no related allowance unpaid principal balance | 10,756 | 9,472 |
With an allowance recorded: | ' | ' |
Impaired loans with related allowance recorded investment | 4,767 | 9,681 |
Impaired loans with related allowance unpaid principal balance | 4,764 | 9,720 |
Impaired loans, related allowance | 1,759 | 1,807 |
Total: | ' | ' |
Impaired loans recorded investment | 15,532 | 18,965 |
Impaired loans unpaid principal balance | 15,520 | 19,192 |
Impaired loans, related allowance | 1,759 | 1,807 |
Commercial and Industrial [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Impaired loans with no related allowance recorded investment | 1,217 | 1,357 |
Impaired loans with no related allowance unpaid principal balance | 1,216 | 1,357 |
With an allowance recorded: | ' | ' |
Impaired loans with related allowance recorded investment | 350 | 534 |
Impaired loans with related allowance unpaid principal balance | 350 | 534 |
Impaired loans, related allowance | 79 | 179 |
Total: | ' | ' |
Impaired loans recorded investment | 1,567 | 1,891 |
Impaired loans unpaid principal balance | 1,566 | 1,891 |
Impaired loans, related allowance | 79 | 179 |
Real Estate Construction [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Impaired loans with no related allowance recorded investment | 2,859 | 124 |
Impaired loans with no related allowance unpaid principal balance | 2,859 | 124 |
With an allowance recorded: | ' | ' |
Impaired loans with related allowance recorded investment | 600 | 3,887 |
Impaired loans with related allowance unpaid principal balance | 600 | 3,887 |
Impaired loans, related allowance | 600 | 210 |
Total: | ' | ' |
Impaired loans recorded investment | 3,459 | 4,011 |
Impaired loans unpaid principal balance | 3,459 | 4,011 |
Impaired loans, related allowance | 600 | 210 |
Residential Real Estate Mortgage [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Impaired loans with no related allowance recorded investment | 2,542 | 2,704 |
Impaired loans with no related allowance unpaid principal balance | 2,538 | 2,892 |
With an allowance recorded: | ' | ' |
Impaired loans with related allowance recorded investment | 2,961 | 3,178 |
Impaired loans with related allowance unpaid principal balance | 2,959 | 3,217 |
Impaired loans, related allowance | 907 | 855 |
Total: | ' | ' |
Impaired loans recorded investment | 5,503 | 5,882 |
Impaired loans unpaid principal balance | 5,497 | 6,109 |
Impaired loans, related allowance | 907 | 855 |
Commercial Real Estate Mortgage [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Impaired loans with no related allowance recorded investment | 4,147 | 5,093 |
Impaired loans with no related allowance unpaid principal balance | 4,143 | 5,093 |
With an allowance recorded: | ' | ' |
Impaired loans with related allowance recorded investment | 849 | 2,082 |
Impaired loans with related allowance unpaid principal balance | 848 | 2,082 |
Impaired loans, related allowance | 170 | 563 |
Total: | ' | ' |
Impaired loans recorded investment | 4,996 | 7,175 |
Impaired loans unpaid principal balance | 4,991 | 7,175 |
Impaired loans, related allowance | 170 | 563 |
Consumer Installment [Member] | ' | ' |
With no related allowance recorded: | ' | ' |
Impaired loans with no related allowance recorded investment | ' | 6 |
Impaired loans with no related allowance unpaid principal balance | ' | 6 |
With an allowance recorded: | ' | ' |
Impaired loans with related allowance recorded investment | 7 | ' |
Impaired loans with related allowance unpaid principal balance | 7 | ' |
Impaired loans, related allowance | 3 | ' |
Total: | ' | ' |
Impaired loans recorded investment | 7 | 6 |
Impaired loans unpaid principal balance | 7 | 6 |
Impaired loans, related allowance | $3 | ' |
Note_7_Loans_and_Related_Allow7
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Additional Information on Impaired Loans (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Additional Information on Impaired Loans [Line Items] | ' | ' | ' | ' |
Impaired Financing Receivable - Average Recorded Investment | $1,842 | $2,643 | $2,107 | $2,687 |
Impaired Financing Receivable - Interest Income Recognized | 22 | 15 | 71 | 70 |
Real Estate Construction [Member] | ' | ' | ' | ' |
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Additional Information on Impaired Loans [Line Items] | ' | ' | ' | ' |
Impaired Financing Receivable - Average Recorded Investment | 3,556 | 3,850 | 3,644 | 3,499 |
Impaired Financing Receivable - Interest Income Recognized | 38 | 58 | 119 | 95 |
Residential Real Estate Mortgage [Member] | ' | ' | ' | ' |
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Additional Information on Impaired Loans [Line Items] | ' | ' | ' | ' |
Impaired Financing Receivable - Average Recorded Investment | 5,328 | 5,274 | 5,319 | 4,937 |
Impaired Financing Receivable - Interest Income Recognized | 62 | 69 | 164 | 143 |
Commercial Real Estate Mortgage [Member] | ' | ' | ' | ' |
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Additional Information on Impaired Loans [Line Items] | ' | ' | ' | ' |
Impaired Financing Receivable - Average Recorded Investment | 5,192 | 6,669 | 5,678 | 6,018 |
Impaired Financing Receivable - Interest Income Recognized | 83 | 106 | 241 | 216 |
Consumer Installment [Member] | ' | ' | ' | ' |
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Additional Information on Impaired Loans [Line Items] | ' | ' | ' | ' |
Impaired Financing Receivable - Average Recorded Investment | 11 | 14 | 12 | 18 |
Impaired Financing Receivable - Interest Income Recognized | ' | $1 | ' | $1 |
Note_7_Loans_and_Related_Allow8
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Classes of the Loan Portfolio Summarized by Credit Quality (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | $468,007 | $435,725 |
Commercial and Industrial [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 56,619 | 52,078 |
Commercial and Industrial [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 718 | 772 |
Commercial and Industrial [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 1,498 | 1,605 |
Commercial and Industrial [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 39 | 43 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 58,874 | 54,498 |
Real Estate Construction [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 28,687 | 24,052 |
Real Estate Construction [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 0 | 907 |
Real Estate Construction [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | ' | 642 |
Real Estate Construction [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 600 | 0 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 29,287 | 25,601 |
Residential Real Estate Mortgage [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 212,706 | 198,479 |
Residential Real Estate Mortgage [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 899 | 774 |
Residential Real Estate Mortgage [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 10,618 | 11,057 |
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 | 224,223 | 210,310 |
Commercial Real Estate Mortgage [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 145,464 | 132,931 |
Commercial Real Estate Mortgage [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 163 | 2,232 |
Commercial Real Estate Mortgage [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 3,861 | 6,008 |
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 | 149,488 | 141,171 |
Consumer Installment [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 6,112 | 4,129 |
Consumer Installment [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 0 | 0 |
Consumer Installment [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 23 | 16 |
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 | 6,135 | 4,145 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 449,588 | 411,669 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 1,780 | 4,685 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | 16,000 | 19,328 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing Receivable | $639 | $43 |
Note_7_Loans_and_Related_Allow9
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Past Due Financing Receivables (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | $456,951 | $422,165 |
Financing Receivable 30-59 Days Past Due | 1,765 | 3,253 |
Financing Receivable 60-89 Days Past Due | 369 | 1,595 |
Financing Receivable 90 Days + Past Due | 25 | 181 |
Financing Receivable Total Past Due | 2,158 | 5,029 |
Financing Receivable Non-Accrual | 8,898 | 8,531 |
Financing Receivable | 468,007 | 435,725 |
Commercial and Industrial [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | 58,231 | 53,366 |
Financing Receivable 30-59 Days Past Due | 56 | 521 |
Financing Receivable 60-89 Days Past Due | 66 | 359 |
Financing Receivable 90 Days + Past Due | 1 | 38 |
Financing Receivable Total Past Due | 122 | 918 |
Financing Receivable Non-Accrual | 521 | 214 |
Financing Receivable | 58,874 | 54,498 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | 28,687 | 24,945 |
Financing Receivable 30-59 Days Past Due | ' | 17 |
Financing Receivable 60-89 Days Past Due | ' | 639 |
Financing Receivable 90 Days + Past Due | 0 | 0 |
Financing Receivable Total Past Due | ' | 656 |
Financing Receivable Non-Accrual | 600 | ' |
Financing Receivable | 29,287 | 25,601 |
Residential Real Estate Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | 215,999 | 200,041 |
Financing Receivable 30-59 Days Past Due | 1,128 | 2,079 |
Financing Receivable 60-89 Days Past Due | 139 | 481 |
Financing Receivable 90 Days + Past Due | 24 | 143 |
Financing Receivable Total Past Due | 1,292 | 2,703 |
Financing Receivable Non-Accrual | 6,932 | 7,566 |
Financing Receivable | 224,223 | 210,310 |
Commercial Real Estate Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | 147,938 | 139,730 |
Financing Receivable 30-59 Days Past Due | 559 | 598 |
Financing Receivable 60-89 Days Past Due | 163 | 100 |
Financing Receivable 90 Days + Past Due | 0 | 0 |
Financing Receivable Total Past Due | 722 | 698 |
Financing Receivable Non-Accrual | 828 | 743 |
Financing Receivable | 149,488 | 141,171 |
Consumer Installment [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Financing Receivable Current | 6,095 | 4,083 |
Financing Receivable 30-59 Days Past Due | 21 | 38 |
Financing Receivable 60-89 Days Past Due | 1 | 16 |
Financing Receivable 90 Days + Past Due | 0 | 0 |
Financing Receivable Total Past Due | 22 | 54 |
Financing Receivable Non-Accrual | 17 | 8 |
Financing Receivable | $6,135 | $4,145 |
Recovered_Sheet1
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Troubled Debt Restructurings (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Term Modification [Member] | Commercial and Industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 1 | 1 | 2 | 6 |
Term Modification [Member] | Residential Real Estate Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 2 | ' | 3 | 2 |
Term Modification [Member] | Commercial Real Estate Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | ' | ' | 1 | ' |
Term Modification [Member] | Consumer Installment [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | ' | ' | 1 | 1 |
Other Restructurings [Member] | Commercial and Industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 0 | ' | 0 | ' |
Other Restructurings [Member] | Residential Real Estate Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 0 | ' | 0 | ' |
Other Restructurings [Member] | Commercial Real Estate Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 0 | ' | 0 | ' |
Other Restructurings [Member] | Consumer Installment [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 0 | ' | 0 | ' |
Commercial and Industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 1 | 1 | 2 | 6 |
Pre-modification outstanding recorded investment (in Dollars) | 75 | 137 | 75 | 879 |
Residential Real Estate Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | 2 | ' | 3 | 2 |
Pre-modification outstanding recorded investment (in Dollars) | 165 | ' | 198 | 383 |
Commercial Real Estate Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | ' | ' | 1 | ' |
Pre-modification outstanding recorded investment (in Dollars) | ' | ' | 55 | ' |
Consumer Installment [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of contracts | ' | ' | 1 | 1 |
Pre-modification outstanding recorded investment (in Dollars) | ' | ' | 7 | 644 |
Recovered_Sheet2
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Troubled Debt Restructurings Subsequently Defaulted (USD $) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial Real Estate Mortgage [Member] | Commercial Real Estate Mortgage [Member] | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Number of Contracts | 0 | 0 | ' | 0 | 1 | 0 | 1 |
Recorded Investment | ' | ' | $0 | $0 | $565,000 | $0 | $190,000 |