Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 10, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | MIDDLEFIELD BANC CORP | |
Trading Symbol | mbcn | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 1,873,138 | |
Amendment Flag | false | |
Entity Central Index Key | 836,147 | |
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 | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 |
Consolidated Balance Sheet (Una
Consolidated Balance Sheet (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and due from banks | $ 19,189 | $ 20,846 |
Federal funds sold | 4,106 | 4,793 |
Cash and cash equivalents | 23,295 | 25,639 |
Investment securities available for sale, at fair value | 145,146 | 154,334 |
Loans held for sale | 620 | 438 |
Loans | 510,232 | 470,584 |
Less allowance for loan and lease losses | 6,320 | 6,846 |
Net loans | 503,912 | 463,738 |
Premises and equipment, net | 9,892 | 9,980 |
Goodwill | 4,559 | 4,559 |
Core deposit intangibles | 86 | 116 |
Bank-owned life insurance | 13,354 | 9,092 |
Other real estate owned | 2,006 | 2,590 |
Accrued interest and other assets | 7,727 | 7,045 |
TOTAL ASSETS | 710,597 | 677,531 |
Deposits: | ||
Noninterest-bearing demand | 117,038 | 105,512 |
Interest-bearing demand | 64,807 | 56,377 |
Money market | 77,811 | 75,895 |
Savings | 179,528 | 178,470 |
Time | 187,364 | 169,858 |
Total deposits | 626,548 | 586,112 |
Short-term borrowings | 4,047 | 14,808 |
Other borrowings | 10,300 | 10,624 |
Accrued interest and other liabilities | 2,486 | 2,120 |
TOTAL LIABILITIES | 643,381 | 613,664 |
STOCKHOLDERS' EQUITY | ||
Common stock, no par value; 10,000,000 shares authorized, 2,259,040 and 2,242,025 shares issued; 2,069,510 and 2,052,495 shares outstanding | 36,039 | 35,529 |
Retained earnings | 35,994 | 32,524 |
Accumulated other comprehensive income | 1,917 | 2,548 |
Treasury stock, at cost; 189,530 shares | (6,734) | (6,734) |
TOTAL STOCKHOLDERS' EQUITY | 67,216 | 63,867 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 710,597 | $ 677,531 |
Consolidated Balance Sheet (Un3
Consolidated Balance Sheet (Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2015 | Dec. 31, 2014 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 2,259,040 | 2,242,025 |
Common stock, no par value (in Dollars per share) | $ 0 | $ 0 |
Common stock, shares outstanding | 2,069,510 | 2,052,495 |
Treasury stock, shares | 189,530 | 189,530 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
INTEREST INCOME | ||||
Interest and fees on loans | $ 5,971 | $ 5,646 | $ 17,656 | $ 16,915 |
Interest-bearing deposits in other institutions | 6 | 5 | 26 | 19 |
Federal funds sold | 4 | 2 | 12 | 11 |
Investment securities: | ||||
Taxable interest | 341 | 441 | 1,115 | 1,476 |
Tax-exempt interest | 809 | 798 | 2,373 | 2,336 |
Dividends on stock | 20 | 19 | 70 | 62 |
Total interest income | 7,151 | 6,911 | 21,252 | 20,819 |
INTEREST EXPENSE | ||||
Deposits | 876 | 898 | 2,581 | 2,767 |
Short-term borrowings | 30 | 38 | 100 | 111 |
Other borrowings | 20 | 30 | 66 | 94 |
Trust preferred securities | 33 | 33 | 85 | 93 |
Total interest expense | 959 | 999 | 2,832 | 3,065 |
NET INTEREST INCOME | 6,192 | 5,912 | 18,420 | 17,754 |
Provision for loan losses | 105 | 70 | 210 | 370 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 6,087 | 5,842 | 18,210 | 17,384 |
NONINTEREST INCOME | ||||
Service charges on deposit accounts | 471 | 489 | 1,382 | 1,399 |
Investment securities gains, net | 211 | 190 | 257 | 248 |
Earnings on bank-owned life insurance | 101 | 71 | 262 | 206 |
Gain on sale of loans | 113 | 20 | 286 | 20 |
Other income | 212 | 220 | 679 | 689 |
Total noninterest income | 1,108 | 990 | 2,866 | 2,562 |
NONINTEREST EXPENSE | ||||
Salaries and employee benefits | 2,285 | 2,144 | 7,205 | 6,428 |
Occupancy expense | 305 | 272 | 945 | 868 |
Equipment expense | 249 | 296 | 706 | 710 |
Data processing costs | 287 | 251 | 798 | 689 |
Ohio state franchise tax | 75 | 93 | 225 | 269 |
Federal deposit insurance expense | 120 | 132 | 352 | 361 |
Professional fees | 229 | 189 | 825 | 814 |
Loss on other real estate owned | 24 | 49 | 72 | 119 |
Advertising expense | 195 | 120 | 586 | 367 |
Other real estate expense | 116 | 91 | 449 | 256 |
Directors fees | 98 | 99 | 343 | 303 |
Other expense | 686 | 649 | 2,191 | 2,028 |
Total noninterest expense | 4,669 | 4,385 | 14,697 | 13,212 |
Income before income taxes | 2,526 | 2,447 | 6,379 | 6,734 |
Income taxes | 544 | 529 | 1,264 | 1,442 |
NET INCOME | $ 1,982 | $ 1,918 | $ 5,115 | $ 5,292 |
EARNINGS PER SHARE | ||||
Basic (in Dollars per share) | $ 0.96 | $ 0.94 | $ 2.49 | $ 2.60 |
Diluted (in Dollars per share) | 0.96 | 0.93 | 2.47 | 2.59 |
DIVIDENDS DECLARED PER SHARE (in Dollars per share) | $ 0.27 | $ 0.26 | $ 0.80 | $ 0.78 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Net income | $ 1,982 | $ 1,918 | $ 5,115 | $ 5,292 |
Other comprehensive (loss) income: | ||||
Net unrealized holding (loss) gain on available-for-sale securities | 1,416 | 1,351 | (699) | 6,100 |
Tax effect | (481) | (459) | 238 | (2,074) |
Reclassification adjustment for investment securities gain included in net income | (211) | (190) | (257) | (248) |
Tax effect | 71 | 64 | 87 | 84 |
Total other comprehensive (loss) income | 795 | 766 | (631) | 3,862 |
Comprehensive income | $ 2,777 | $ 2,684 | $ 4,484 | $ 9,154 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance, December 31, 2014 at Dec. 31, 2014 | $ 35,529 | $ 32,524 | $ 2,548 | $ (6,734) | $ 63,867 |
Net income | 5,115 | 5,115 | |||
Other comprehensive loss | (631) | (631) | |||
Dividend reinvestment and purchase plan (16,029 shares) | 504 | 504 | |||
Stock options exercised (400 shares) | 6 | 6 | |||
Cash dividends ($0.80 per share) | (1,645) | (1,645) | |||
Balance, September 30, 2015 at Sep. 30, 2015 | $ 36,039 | $ 35,994 | $ 1,917 | $ (6,734) | $ 67,216 |
Consolidated Statement of Chan7
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (Parentheticals) | 9 Months Ended |
Sep. 30, 2015$ / sharesshares | |
Stock options exercised, shares | 1,025 |
Cash dividends (in Dollars per share) | $ / shares | $ 0.80 |
Common Stock [Member] | |
Dividend reinvestment and purchase plan, shares | 16,029 |
Stock options exercised, shares | 400 |
Retained Earnings [Member] | |
Cash dividends (in Dollars per share) | $ / shares | $ 0.80 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
OPERATING ACTIVITIES | ||
Net income | $ 5,115 | $ 5,292 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 210 | 370 |
Investment securities gain, net | (257) | (248) |
Depreciation and amortization | 763 | 619 |
Amortization of premium and discount on investment securities | 553 | 567 |
Accretion of deferred loan fees, net | (468) | (208) |
Origination of loans held for sale | (14,740) | (926) |
Proceeds from sale of loans | 14,844 | 745 |
Gain on sale of loans | (286) | (20) |
Earnings on bank-owned life insurance | (262) | (206) |
Deferred income tax | 397 | (323) |
Loss on other real estate owned | 72 | 119 |
Other real estate owned writedowns | 56 | |
Increase in accrued interest receivable | (481) | (297) |
Increase (decrease) in accrued interest payable | 58 | (26) |
Compensation expense from stock awards | 10 | |
Other, net | (158) | 65 |
Net cash provided by operating activities | 5,416 | 5,533 |
Investment securities available for sale: | ||
Proceeds from repayments and maturities | 7,530 | 10,560 |
Proceeds from sale of securities | 15,284 | 8,382 |
Purchases | (14,876) | (12,287) |
Increase in loans, net | (40,554) | (32,772) |
Proceeds from the sale of other real estate owned | 1,094 | 475 |
Purchase of bank-owned life insurance | (4,000) | |
Purchase of premises and equipment | (454) | (662) |
Net cash used for investing activities | (35,976) | (26,304) |
FINANCING ACTIVITIES | ||
Net increase in deposits | 40,436 | 31,184 |
Decrease in short-term borrowings, net | (10,761) | (5,678) |
Repayment of other borrowings | (324) | (504) |
Stock options exercised | 6 | (3) |
Proceeds from dividend reinvestment and purchase plan | 504 | 469 |
Cash dividends | (1,645) | (1,588) |
Net cash provided by financing activities | 28,216 | 23,880 |
(Decrease) increase in cash and cash equivalents | (2,344) | 3,109 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 25,639 | 26,193 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 23,295 | 29,302 |
Cash paid during the year for: | ||
Interest on deposits and borrowings | 2,774 | 3,091 |
Income taxes | 350 | 1,845 |
Noncash investing transactions: | ||
Transfers from loans to other real estate owned | $ 638 | $ 570 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2015 | |
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 unaudited 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, 2014, 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, 2014. 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 January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-01, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. 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. . In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures 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 In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements -Going Concern (Subtopic In November 2014, the FASB issued ASU 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity (a consensus of the FASB Emerging Issues Task Force). In November 2014, the FASB issued ASU 2014-17, Business Combinations (Topic 805): Pushdown Accounting. In January 2015, the FASB issued ASU 2015-01, Income Statement –Extraordinary and Unusual Items, In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) In April 2015, the FASB issued ASU 2015-04, Compensation-Retirement Benefits (Topic 715), In April 2015, the FASB issued ASU 2015-05, Intangible – Goodwill and Other Internal Use Software (Topic 350-40) In April 2015, the FASB issued ASU 2015-06, Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions. Topic 260, Earnings Per Share, contains guidance that addresses master limited partnerships that originated from Emerging Issues Task Force (“EITF”) Issue No. 07-4, Application of the Two-Class Method Under FASB Statement No. 128 to Master Limited Partnerships. Under Topic 260, master limited partnerships apply the two-class method of calculating earnings per unit because the general partner, limited partners, and incentive distribution rights holders each participate differently in the distribution of available cash in accordance with the contractual rights contained in the partnership agreement. The amendments in this Update specify that for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business before the date of a dropdown transaction should be allocated entirely to the general partner. In that circumstance, the previously reported earnings per unit of the limited partners (which is typically the earnings per unit measure presented in the financial statements) would not change as a result of the dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method are also required. The amendments in this Update are effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier application is permitted. This Update is not expected to have a significant impact on the Company’s financial statements. In May 2015, the FASB issued ASU 2015-07, Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent). The Update applies to reporting entities that elect to measure the fair value of an investment using the net asset value per share (or its equivalent) practical expedient. Under the amendments in this Update, investments for which fair value is measured at net asset value per share (or its equivalent) using the practical expedient should not be categorized in the fair value hierarchy. Removing those investments from the fair value hierarchy not only eliminates the diversity in practice resulting from the way in which investments measured at net asset value per share (or its equivalent) with future redemption dates are classified, but also ensures that all investments categorized in the fair value hierarchy are classified using a consistent approach. Investments that calculate net asset value per share (or its equivalent), but for which the practical expedient is not applied will continue to be included in the fair value hierarchy. A reporting entity should continue to disclose information on investments for which fair value is measured at net asset value (or its equivalent) as a practical expedient to help users understand the nature and risks of the investments and whether the investments, if sold, are probable of being sold at amounts different from net asset value. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. A reporting entity should apply the amendments retrospectively to all periods presented. The retrospective approach requires that an investment for which fair value is measured using the net asset value per share practical expedient be removed from the fair value hierarchy in all periods presented in an entity's financial statements. Earlier application is permitted. This Update is not expected to have a significant impact on the Company’s financial statements. In May 2015, the FASB issued ASU 2015-08, Business Combinations – Pushdown Accounting – Amendment to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115. This Update was issued to amend various SEC paragraphs pursuant to the issuance of Staff Accounting Bulletin No. 115. This Update is not expected to have a significant impact on the Company’s financial statements. In May 2015, the FASB issued ASU 2015-09, Financial Services – Insurance (Topic 944): Disclosure About Short-Duration Contracts. The amendments apply to all insurance entities that issue short-duration contracts as defined in Topic 944, Financial Services – Insurance. The amendments require insurance entities to disclose for annual reporting periods certain information about the liability for unpaid claims and claim adjustment expenses. The amendments also require insurance entities to disclose information about significant changes in methodologies and assumptions used to calculate the liability for unpaid claims and claim adjustment expenses, including reasons for the change and the effects on the financial statements. Additionally, the amendments require insurance entities to disclose for annual and interim reporting periods a rollforward of the liability for unpaid claims and claim adjustment expenses, described in Topic 944. For health insurance claims, the amendments require the disclosure of the total of incurred-but-not-reported liabilities plus expected development on reported claims included in the liability for unpaid claims and claim adjustment expenses. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. For all other entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within annual periods beginning after December 15, 2017. This Update is not expected to have a significant impact on the Company’s financial statements. In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements. The amendments in this Update represent changes to clarify the FASB Accounting Standards Codification (“Codification”), correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Transition guidance varies based on the amendments in this Update. The amendments in this Update that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments will be effective upon the issuance of this Update. This Update is not expected to have a significant impact on the Company’s financial statements. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers December 15, 2019. The Company is evaluating the effect of adopting this new accounting Update. In August 2015, the FASB issued ASU 2015-15, Interest – Imputation of Interest (Subtopic 835-30): Presentation And Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805). |
Note 2- Stock-based Compensatio
Note 2- Stock-based Compensation | 9 Months Ended |
Sep. 30, 2015 | |
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, 2015 and 2014. Stock option activity during the nine months ended September 30 is as follows: Weighted- Weighted- average average Exercise Exercise 2015 Price 2014 Price Outstanding, January 1 46,451 $ 27.90 58,581 $ 28.38 Expired (3,639 ) 37.33 (1,735 ) 30.45 Exercised (1,025 ) 20.21 - - Forfeited - - (907 ) 27.35 Outstanding, September 30 41,787 $ 27.27 55,939 $ 28.34 Exercisable, September 30 41,787 $ 27.27 55,939 $ 28.34 |
Note 3 - Earnings Per Share
Note 3 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2015 | |
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, 2015 2014 2015 2014 Weighted-average common shares outstanding 2,253,584 2,233,654 2,248,468 2,228,502 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 2,064,054 2,044,124 2,058,938 2,038,972 Additional common stock equivalents (stock options) used to calculate diluted earnings per share 8,585 7,888 9,254 6,688 Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share 2,072,639 2,052,012 2,068,192 2,045,660 Options to purchase 41,787 shares of common stock, at prices ranging from $17.55 to $40.24, were outstanding during the three and nine months ended September 30, 2015. Of those options, 26,350 were considered dilutive for the three and nine month periods based on the market price exceeding the strike price. 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. |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2015 | |
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 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. September 30, 2015 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: U.S. government agency securities $ - $ 22,018 $ - $ 22,018 Obligations of states and political subdivisions - 94,173 - 94,173 Mortgage-backed securities in government- sponsored entities 25,669 25,669 Private-label mortgage-backed securities - 2,387 - 2,387 Total debt securities - 144,247 - 144,247 Equity securities in financial institutions 5 894 - 899 Total $ 5 $ 145,141 $ - $ 145,146 December 31, 2014 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: U.S. government agency securities $ - $ 22,896 $ - $ 22,896 Obligations of states and political subdivisions - 98,345 - 98,345 Mortgage-backed securities in government- sponsored entities - 29,391 - 29,391 Private-label mortgage-backed securities - 2,919 - 2,919 Total debt securities - 153,551 - 153,551 Equity securities in financial institutions 5 778 - 783 Total $ 5 $ 154,329 $ - $ 154,334 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, 2015 or December 31, 2014. 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 and observable inputs, employed by certified appraisers, for similar assets classified as Level II inputs. In cases where valuation techniques included inputs that are unobservable and are based on estimates and assumptions developed by management based on the best information available under each circumstance, the asset valuation is classified as Level III inputs. 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. September 30, 2015 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a nonrecurring basis: Impaired loans $ - $ - $ 11,277 $ 11,277 Other real estate owned - - 2,006 2,006 December 31, 2014 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a nonrecurring basis: Impaired loans $ - $ - $ 12,772 $ 12,772 Other real estate owned - - 2,590 2,590 The following tables present 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) September 30, 2015 Impaired loans $ 5,687 Discounted cash flow Discount rate -3.1% to -7.9% -5.1% 5,590 Appraisal of collateral (1) Appraisal adjustments (2) 0.0% to -73.6% -26.2% Other real estate owned $ 2,006 Appraisal of collateral (1) Appraisal adjustments (2) 0.0% to -10.0% -7.4% Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) December 31, 2014 Impaired loans $ 12,772 Appraisal of collateral (1) Appraisal adjustments (2) 0% to -84.6% -25.5% Other real estate owned $ 2,590 Appraisal of collateral (1) Appraisal adjustments (2) 0% to -10.0% -7.5% (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: September 30, 2015 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Cash and cash equivalents $ 23,295 $ 23,295 $ - $ - $ 23,295 Investment securities Available for sale 145,146 - 145,146 - 145,146 Loans held for sale 620 - 620 - 620 Net loans 503,912 - - 514,215 514,215 Bank-owned life insurance 13,354 13,354 - - 13,354 Federal Home Loan Bank stock 1,887 1,887 - - 1,887 Accrued interest receivable 2,576 2,576 - - 2,576 Financial liabilities: Deposits $ 626,548 $ 439,184 $ - $ 170,815 $ 609,999 Short-term borrowings 4,047 4,047 - - 4,047 Other borrowings 10,300 - - 12,482 12,482 Accrued interest payable 373 373 - - 373 December 31, 2014 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Cash and cash equivalents $ 25,639 $ 25,639 $ - $ - $ 25,639 Investment securities Available for sale 154,334 - 154,334 - 154,334 Loans held for sale 438 - 438 - 438 Net loans 463,738 - - 475,019 475,019 Bank-owned life insurance 9,092 9,092 - - 9,092 Federal Home Loan Bank stock0 1,887 1,887 - - 1,887 Accrued interest receivable 2,095 2,095 - - 2,095 Financial liabilities: Deposits $ 586,112 $ 416,254 $ - $ 170,542 $ 586,796 Short-term borrowings 14,808 14,808 - - 14,808 Other borrowings 10,624 - 10,822 10,822 Accrued interest payable 315 315 - - 315 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 Comp
Note 5 - Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 5 – ACCUMULATED OTHER COMPREHENSIVE INCOME The following tables present the changes in accumulated other comprehensive income by component net of tax for the three and nine months ended September 30, 2015 and 2014, respectively: Unrealized gains on available-for-sale (Dollars in thousands) securities Balance as of December 31, 2014 $ 2,548 Other comprehensive income before reclassification (461 ) Amount reclassified from accumulated other comprehensive income (170 ) Period change (631 ) Balance at September 30, 2015 $ 1,917 Balance at June 30, 2015 $ 1,122 Other comprehensive loss before reclassification 935 Amount reclassified from accumulated other comprehensive income (140 ) Period change 795 Balance at September 30, 2015 $ 1,917 Unrealized gains on available-for-sale (Dollars in thousands) securities Balance as of December 31, 2013 $ (2,237 ) Other comprehensive income before reclassification 4,026 Amount reclassified from accumulated other comprehensive loss (164 ) Period change 3,862 Balance at September 30, 2014 1,625 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 The following tables present significant amounts reclassified out of each component of accumulated other comprehensive income fo r the three and nine months ended September 30, 2015 and 2014, respectively: (Dollars in thousands) Amount Reclassified from Accumulated Other Comprehensive Income (a) For the Three Months Ended Affected Line Item in the Statement Where Net Income is Details about other comprehensive income September 30, 2015 September 30, 2014 Presented Unrealized gains on available-for-sale securities $ 211 $ 190 Investment securities gains, net (71 ) (64 ) Income taxes $ 140 $ 126 Net of tax (Dollars in thousands) Amount Reclassified from Accumulated Other Comprehensive Income (a) For the Nine Months Ended Affected Line Item in the Statement Where Net Income is Details about other comprehensive income September 30, 2015 September 30, 2014 Presented Unrealized gains on available-for-sale securities $ 257 $ 248 Investment securities gains, net (87 ) (84 ) Income taxes $ 170 $ 164 Net of tax (a) Amounts in parentheses indicate debits to net income |
Note 6 - Investment Securities
Note 6 - Investment Securities Available for Sale | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 6 - INVESTMENT SECURITIES AVAILABLE FOR SALE The amortized cost and fair values of securities available for sale are as follows: September 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value U.S. government agency securities $ 21,984 $ 298 $ (264 ) $ 22,018 Obligations of states and political subdivisions: Taxable 1,990 156 - 2,146 Tax-exempt 89,932 2,759 (664 ) 92,027 Mortgage-backed securities in government-sponsored entities 25,400 409 (140 ) 25,669 Private-label mortgage-backed securities 2,187 200 - 2,387 Total debt securities 141,493 3,822 (1,068 ) 144,247 Equity securities in financial institutions 750 149 - 899 Total $ 142,243 $ 3,971 $ (1,068 ) $ 145,146 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. government agency securities $ 23,035 $ 311 $ (450 ) $ 22,896 Obligations of states and political subdivisions: Taxable 2,953 226 - 3,179 Tax-exempt 91,916 3,803 (553 ) 95,166 Mortgage-backed securities in government-sponsored entities 29,150 475 (234 ) 29,391 Private-label mortgage-backed securities 2,672 247 - 2,919 Total debt securities 149,726 5,062 (1,237 ) 153,551 Equity securities in financial institutions 750 33 - 783 Total $ 150,476 $ 5,095 $ (1,237 ) $ 154,334 The amortized cost and fair value of debt securities at September 30, 2015, 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. The following table provides investment maturity tranches as of September 30, 2015: Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 520 $ 523 Due after one year through five years 10,013 10,159 Due after five years through ten years 17,714 18,147 Due after ten years 113,246 115,418 Total $ 141,493 $ 144,247 Proceeds from the sales of securities available for sale and the gross realized gains and losses for the 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, 2015 2014 2015 2014 Proceeds from sales $ 11,973 $ 6,888 $ 15,284 $ 8,382 Gross realized gains 233 227 373 291 Gross realized losses (22 ) (37 ) (116 ) (43 ) Investment securities with an approximate carrying value of $73.9 million and $61.9 million at September 30, 2015 and December 31, 2014, 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. September 30, 2015 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 $ 2,745 $ (54 ) $ 12,791 $ (210 ) $ 15,536 $ (264 ) Obligations of states and political subdivisions 19,988 (139 ) 11,586 (525 ) 31,574 (664 ) Mortgage-backed securities in government-sponsored entities 9,410 (12 ) 7,305 (128 ) 16,715 (140 ) Total $ 32,143 $ (205 ) $ 31,682 $ (863 ) $ 63,825 $ (1,068 ) December 31, 2014 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. government agency securities $ - $ - $ 15,734 $ (450 ) $ 15,734 $ (450 ) Obligations of states and political subdivisions 2,406 (10 ) 18,232 (543 ) 20,638 (553 ) Mortgage-backed securities in government-sponsored entities - - 16,774 (234 ) 16,774 (234 ) Total $ 2,406 $ (10 ) $ 50,740 $ (1,227 ) $ 53,146 $ (1,237 ) There were 91 securities considered temporarily impaired at September 30, 2015. 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 98% of the total available-for-sale portfolio as of September 30, 2015 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 nine months ended September 30, 2015 and 2014, 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, 2015 or December 31, 2014 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 Allo
Note 7 - Loans and Related Allowance for Loan and Lease Losses | 9 Months Ended |
Sep. 30, 2015 | |
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, 2015 2014 Commercial and industrial $ 53,154 $ 60,744 Real estate - construction 17,576 30,296 Real estate - mortgage: Residential 260,291 227,552 Commercial 174,336 147,413 Consumer installment 4,875 4,579 510,232 470,584 Less: Allowance for loan and lease losses 6,320 6,846 Net loans $ 503,912 $ 463,738 The Company’s primary business activity is with customers located within its local Northeastern Ohio 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 September 30, 2015 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Loans: Individually evaluated for impairment $ 1,603 $ 1,887 $ 3,925 $ 4,481 $ 6 $ 11,902 Collectively evaluated for impairment 51,551 15,689 256,366 169,855 4,869 498,330 Total loans $ 53,154 $ 17,576 $ 260,291 $ 174,336 $ 4,875 $ 510,232 Real estate- Mortgage December 31, 2014 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Loans: Individually evaluated for impairment $ 1,393 $ 3,296 $ 5,183 $ 4,490 $ 6 $ 14,368 Collectively evaluated for impairment 59,351 27,000 222,369 142,923 4,573 456,216 Total loans $ 60,744 $ 30,296 $ 227,552 $ 147,413 $ 4,579 $ 470,584 Real Estate- Mortgage September 30, 2015 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 $ 119 $ 153 $ 267 $ 86 $ - $ 625 Collectively evaluated for impairment 459 181 3,159 1,853 43 5,695 Total ending allowance balance $ 578 $ 334 $ 3,426 $ 1,939 $ 43 $ 6,320 Real Estate- Mortgage December 31, 2014 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 $ 83 $ 589 $ 892 $ 30 $ 2 $ 1,596 Collectively evaluated for impairment 559 279 2,811 1,546 55 5,250 Total ending allowance balance $ 642 $ 868 $ 3,703 $ 1,576 $ 57 $ 6,846 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 guidance established by the Board of Directors. 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): September 30, 2015 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial and industrial $ 675 $ 673 $ - Real estate - construction 1,735 1,734 - Real estate - mortgage: Residential 2,100 2,098 - Commercial 2,277 2,276 - Consumer installment 6 6 - Total $ 6,793 $ 6,787 $ - With an allowance recorded: Commercial and industrial $ 928 $ 926 $ 119 Real estate - construction 152 152 153 Real estate - mortgage: Residential 1,825 1,825 267 Commercial 2,204 2,198 86 Total $ 5,109 $ 5,101 $ 625 Total: Commercial and industrial $ 1,603 $ 1,599 $ 119 Real estate - construction 1,887 1,886 153 Real estate - mortgage: Residential 3,925 3,923 267 Commercial 4,481 4,474 86 Consumer installment 6 6 - Total $ 11,902 $ 11,888 $ 625 December 31, 2014 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial and industrial $ 1,146 $ 1,145 $ - Real estate - construction 2,707 2,705 - Real estate - mortgage: Residential 2,202 2,197 - Commercial 4,064 4,060 - Total $ 10,119 $ 10,107 $ - With an allowance recorded: Commercial and industrial $ 247 $ 247 $ 83 Real estate - construction 589 589 589 Real estate - mortgage: Residential 2,981 2,978 892 Commercial 426 426 30 Consumer installment 6 6 2 Total $ 4,249 $ 4,246 $ 1,596 Total: Commercial and industrial $ 1,393 $ 1,392 $ 83 Real estate - construction 3,296 3,294 589 Real estate - mortgage: Residential 5,183 5,175 892 Commercial 4,490 4,486 30 Consumer installment 6 6 2 Total $ 14,368 $ 14,353 $ 1,596 The following tables present interest income by class, recognized on impaired loans (in thousands): For the Three Months Ended September 30, 2015 For the Nine Months Ended September 30, 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Total: Commercial and industrial $ 1,480 $ 21 $ 1,354 $ 73 Real estate - construction 2,347 28 2,614 94 Real estate - mortgage: Residential 4,195 43 4,514 128 Commercial 5,476 71 4,871 200 Consumer installment 6 - 6 - $ 13,504 $ 163 $ 13,358 $ 495 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 Total: 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 - $ 15,929 $ 205 $ 16,760 $ 595 Management uses a nine-point internal risk-rating system to monitor the credit quality of the overall loan portfolio. The first five categories are considered not criticized and are aggregated as Pass rated. The criticized rating categories utilized by management generally follow bank regulatory definitions. The Special Mention category includes assets that are currently protected but are potentially weak, resulting in an undue and unwarranted credit risk, but not to the point of justifying a Substandard classification. Loans in the Substandard category have well-defined weaknesses that jeopardize the liquidation of the debt and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. All loans greater than 90 days past due are considered Substandard. Any portion of a loan that has been charged off is placed in the Loss category. To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Company has a structured loan-rating process with several layers of internal and external oversight. Generally, consumer and residential mortgage loans are included in the Pass categories unless a specific action, such as bankruptcy, repossession, or death, occurs to raise awareness of a possible credit event. The Company’s Commercial Loan Officers are responsible for the timely and accurate risk rating of the loans in their portfolios at origination and on an ongoing basis with the Chief Credit Officer ultimately responsible for accurate and timely risk ratings. The Credit Department performs an annual review of all commercial relationships with loan balances of $1,000,000 or greater. Confirmation of the appropriate risk grade is included in the review on an ongoing basis. The Company engages an external consultant to conduct loan reviews on a semiannual basis. Generally, the external consultant reviews commercial relationships greater than $250,000 and/or criticized relationships greater than $125,000. Detailed reviews, including plans for resolution, are performed on loans classified as Substandard on a quarterly basis. Loans in the Special Mention and Substandard categories that are collectively evaluated for impairment are given separate consideration in the determination of the allowance. The 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 September 30, 2015 Commercial and industrial $ 51,230 $ 504 $ 1,384 $ 36 $ 53,154 Real estate - construction 16,836 - 588 152 17,576 Real estate - mortgage: Residential 254,170 549 5,572 - 260,291 Commercial 161,721 4,622 7,993 - 174,336 Consumer installment 4,868 - 7 - 4,875 Total $ 488,825 $ 5,675 $ 15,544 $ 188 $ 510,232 Special Total Pass Mention Substandard Doubtful Loans December 31, 2014 Commercial and industrial $ 58,976 $ - $ 1,730 $ 38 $ 60,744 Real estate - construction 29,212 495 - 589 30,296 Real estate - mortgage: Residential 218,244 584 8,724 - 227,552 Commercial 137,755 3,908 5,750 - 147,413 Consumer installment 4,572 - 7 - 4,579 Total $ 448,759 $ 4,987 $ 16,211 $ 627 $ 470,584 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 (in thousands): 30-59 Days 60-89 Days 90 Days+ Total Total Current Past Due Past Due Past Due Past Due Loans September 30, 2015 Commercial and industrial $ 52,398 $ 567 $ 166 $ 23 $ 756 $ 53,154 Real estate - construction 16,988 588 - - 588 17,576 Real estate - mortgage: Residential 257,976 1,241 112 962 2,315 260,291 Commercial 173,522 132 426 256 814 174,336 Consumer installment 4,845 30 - - 30 4,875 Total $ 505,729 $ 2,558 $ 704 $ 1,241 $ 4,503 $ 510,232 30-59 Days 60-89 Days 90 Days+ Total Total Current Past Due Past Due Past Due Past Due Loans December 31, 2014 Commercial and industrial $ 60,296 $ 349 $ 68 $ 31 $ 448 $ 60,744 Real estate - construction 30,296 - - - - 30,296 Real estate - mortgage: Residential 223,209 2,065 363 1,915 4,343 227,552 Commercial 146,816 30 - 567 597 147,413 Consumer installment 4,547 27 3 2 32 4,579 Total $ 465,164 $ 2,471 $ 434 $ 2,515 $ 5,420 $ 470,584 The following tables present the classes of the loan portfolio summarized by nonaccrual loans (in thousands): September 30, 2015 90+ Days Past Nonaccrual Due and Accruing Commercial and industrial $ 836 $ 49 Real estate - construction 142 - Real estate - mortgage: Residential 3,592 - Commercial 1,842 - Consumer installment 4 - Total $ 6,416 $ 49 December 31, 2014 90+ Days Past Nonaccrual Due and Accruing Commercial and industrial $ 365 $ - Real estate - construction 587 - Real estate - mortgage: Residential 5,438 165 Commercial 955 - Consumer installment 2 - Total $ 7,347 $ 165 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, 2014 $ 642 $ 868 $ 3,703 $ 1,576 $ 57 $ 6,846 Charge-offs (196 ) (385 ) (425 ) (92 ) (11 ) (1,109 ) Recoveries 186 - 161 5 21 373 Provision (54 ) (149 ) (13 ) 450 (24 ) 210 ALLL balance at September 30, 2015 $ 578 $ 334 $ 3,426 $ 1,939 $ 43 $ 6,320 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 June 30, 2015 $ 610 $ 363 $ 3,347 $ 1,978 $ 48 $ 6,346 Charge-offs (100 ) - (124 ) (5 ) - (229 ) Recoveries 5 - 81 5 7 98 Provision 63 (29 ) 122 (39 ) (12 ) 105 ALLL balance at September 30, 2015 $ 578 $ 334 $ 3,426 $ 1,939 $ 43 $ 6,320 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 Although the residential real estate loan balance increased at year to date ended September 30, 2015, the category experienced a negative provision. This was due to charge-offs and payoffs of loans causing the related allowance to fall from $892,000 at December 31, 2014 to $267,000 at September 30, 2015. The following tables summarize troubled debt restructurings (in thousands): For the Three Months Ended September 30, 2015 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 2 - 2 $ 15 $ 15 Residential real estate 1 - 1 164 164 Consumer 1 - 1 9 9 For the Nine Months Ended September 30, 2015 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 3 1 4 $ 126 $ 126 Real estate construction 1 - 1 181 181 Residential real estate 2 1 3 398 418 Consumer 1 - 1 9 9 For the Three Months Ended September 30, 2014 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 1 - 1 $ 75 $ 75 Residential real estate 2 - 2 165 165 For the Nine Months Ended September 30, 2014 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 2 - 2 $ 82 $ 82 Residential real estate 3 - 3 215 215 Commercial real estate 1 - 1 73 73 Consumer 1 - 1 7 7 The following table summarizes subsequent defaults of troubled debt restructurings (in thousands): For the Three Months Ended September 30, 2015 Troubled Debt Restructurings subsequently defaulted Number of Contracts Recorded Investment Commercial and industrial 1 $ 8 Consumer 1 8 For the Nine Months Ended September 30, 2015 Troubled Debt Restructurings subsequently defaulted Number of Contracts Recorded Investment Commercial and industrial 3 $ 55 Real estate construction 1 152 Consumer 1 8 No TDRs, modified in the twelve months prior to September 30, 2014, subsequently defaulted in the three or nine months ended September 30, 2014. |
Note 8 - Other Real Estate Owne
Note 8 - Other Real Estate Owned ("OREO") | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Real Estate Owned [Text Block] | NOTE 8 – OTHER REAL ESTATE OWNED (“OREO”) OREO comprises foreclosed assets acquired in settlement of loans and is carried at fair value less estimated cost to sell and is included in other assets on the Consolidated Balance Sheet. As of September 30, 2015 and December 31, 2014, there were $2.0 million and $2.6 million, respectively, of OREO. As of September 30, 2015, the Company has initiated formal foreclosure proceedings on $1.1 million of real estate. |
Note 9 - Subsequent Events
Note 9 - Subsequent Events | 9 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | NOTE 9 – SUBSEQUENT EVENTS On October 2, 2015 Middlefield Banc Corp. and Eric D. Hovde entered into an agreement for the repurchase by Middlefield Banc Corp. of the 196,635 shares of Middlefield Banc Corp. common stock held by Mr. Hovde. Those shares constituted approximately 9.5% of the outstanding common stock, having made Mr. Hovde the single largest holder of our stock. The purchase price agreed to was $34.50 per share in cash. With funds borrowed under existing lines of credit and under an additional line of credit from an unaffiliated local bank, Middlefield Banc Corp. completed the repurchase on Monday, October 5, 2015. Mr. Hovde acquired the shares in April of 2012 under the terms of an August 15, 2011 Stock Purchase Agreement, as amended, between Middlefield Banc Corp. and Mr. Hovde’s affiliate, Bank Opportunity Fund LLC. The Stock Purchase Agreement and the associated Amended and Restated Purchaser’s Rights and Voting Agreement, also as amended, granted to Mr. Hovde the right to designate one director to serve on the board of directors of Middlefield Banc Corp. and on the board of directors of our subsidiary bank. Middlefield Banc Corp. and Mr. Hovde agreed that, effective upon completion of the repurchase of Mr. Hovde’s shares, the Stock Purchase Agreement and the Purchaser’s Rights and Voting Agreement were terminated. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-01, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. 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. . In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures 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 In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements -Going Concern (Subtopic In November 2014, the FASB issued ASU 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity (a consensus of the FASB Emerging Issues Task Force). In November 2014, the FASB issued ASU 2014-17, Business Combinations (Topic 805): Pushdown Accounting. In January 2015, the FASB issued ASU 2015-01, Income Statement –Extraordinary and Unusual Items, In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) In April 2015, the FASB issued ASU 2015-04, Compensation-Retirement Benefits (Topic 715), In April 2015, the FASB issued ASU 2015-05, Intangible – Goodwill and Other Internal Use Software (Topic 350-40) In April 2015, the FASB issued ASU 2015-06, Earnings Per Share (Topic 260): Effects on Historical Earnings per Unit of Master Limited Partnership Dropdown Transactions. Topic 260, Earnings Per Share, contains guidance that addresses master limited partnerships that originated from Emerging Issues Task Force (“EITF”) Issue No. 07-4, Application of the Two-Class Method Under FASB Statement No. 128 to Master Limited Partnerships. Under Topic 260, master limited partnerships apply the two-class method of calculating earnings per unit because the general partner, limited partners, and incentive distribution rights holders each participate differently in the distribution of available cash in accordance with the contractual rights contained in the partnership agreement. The amendments in this Update specify that for purposes of calculating historical earnings per unit under the two-class method, the earnings (losses) of a transferred business before the date of a dropdown transaction should be allocated entirely to the general partner. In that circumstance, the previously reported earnings per unit of the limited partners (which is typically the earnings per unit measure presented in the financial statements) would not change as a result of the dropdown transaction. Qualitative disclosures about how the rights to the earnings (losses) differ before and after the dropdown transaction occurs for purposes of computing earnings per unit under the two-class method are also required. The amendments in this Update are effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Earlier application is permitted. This Update is not expected to have a significant impact on the Company’s financial statements. In May 2015, the FASB issued ASU 2015-07, Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent). The Update applies to reporting entities that elect to measure the fair value of an investment using the net asset value per share (or its equivalent) practical expedient. Under the amendments in this Update, investments for which fair value is measured at net asset value per share (or its equivalent) using the practical expedient should not be categorized in the fair value hierarchy. Removing those investments from the fair value hierarchy not only eliminates the diversity in practice resulting from the way in which investments measured at net asset value per share (or its equivalent) with future redemption dates are classified, but also ensures that all investments categorized in the fair value hierarchy are classified using a consistent approach. Investments that calculate net asset value per share (or its equivalent), but for which the practical expedient is not applied will continue to be included in the fair value hierarchy. A reporting entity should continue to disclose information on investments for which fair value is measured at net asset value (or its equivalent) as a practical expedient to help users understand the nature and risks of the investments and whether the investments, if sold, are probable of being sold at amounts different from net asset value. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. A reporting entity should apply the amendments retrospectively to all periods presented. The retrospective approach requires that an investment for which fair value is measured using the net asset value per share practical expedient be removed from the fair value hierarchy in all periods presented in an entity's financial statements. Earlier application is permitted. This Update is not expected to have a significant impact on the Company’s financial statements. In May 2015, the FASB issued ASU 2015-08, Business Combinations – Pushdown Accounting – Amendment to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115. This Update was issued to amend various SEC paragraphs pursuant to the issuance of Staff Accounting Bulletin No. 115. This Update is not expected to have a significant impact on the Company’s financial statements. In May 2015, the FASB issued ASU 2015-09, Financial Services – Insurance (Topic 944): Disclosure About Short-Duration Contracts. The amendments apply to all insurance entities that issue short-duration contracts as defined in Topic 944, Financial Services – Insurance. The amendments require insurance entities to disclose for annual reporting periods certain information about the liability for unpaid claims and claim adjustment expenses. The amendments also require insurance entities to disclose information about significant changes in methodologies and assumptions used to calculate the liability for unpaid claims and claim adjustment expenses, including reasons for the change and the effects on the financial statements. Additionally, the amendments require insurance entities to disclose for annual and interim reporting periods a rollforward of the liability for unpaid claims and claim adjustment expenses, described in Topic 944. For health insurance claims, the amendments require the disclosure of the total of incurred-but-not-reported liabilities plus expected development on reported claims included in the liability for unpaid claims and claim adjustment expenses. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2015, and interim periods within annual periods beginning after December 15, 2016. For all other entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within annual periods beginning after December 15, 2017. This Update is not expected to have a significant impact on the Company’s financial statements. In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements. The amendments in this Update represent changes to clarify the FASB Accounting Standards Codification (“Codification”), correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Transition guidance varies based on the amendments in this Update. The amendments in this Update that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments will be effective upon the issuance of this Update. This Update is not expected to have a significant impact on the Company’s financial statements. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers December 15, 2019. The Company is evaluating the effect of adopting this new accounting Update. In August 2015, the FASB issued ASU 2015-15, Interest – Imputation of Interest (Subtopic 835-30): Presentation And Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805). |
Note 2- Stock-based Compensat19
Note 2- Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted- Weighted- average average Exercise Exercise 2015 Price 2014 Price Outstanding, January 1 46,451 $ 27.90 58,581 $ 28.38 Expired (3,639 ) 37.33 (1,735 ) 30.45 Exercised (1,025 ) 20.21 - - Forfeited - - (907 ) 27.35 Outstanding, September 30 41,787 $ 27.27 55,939 $ 28.34 Exercisable, September 30 41,787 $ 27.27 55,939 $ 28.34 |
Note 3 - Earnings Per Share (Ta
Note 3 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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, 2015 2014 2015 2014 Weighted-average common shares outstanding 2,253,584 2,233,654 2,248,468 2,228,502 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 2,064,054 2,044,124 2,058,938 2,038,972 Additional common stock equivalents (stock options) used to calculate diluted earnings per share 8,585 7,888 9,254 6,688 Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share 2,072,639 2,052,012 2,068,192 2,045,660 |
Note 4 - Fair Value Measureme21
Note 4 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | September 30, 2015 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: U.S. government agency securities $ - $ 22,018 $ - $ 22,018 Obligations of states and political subdivisions - 94,173 - 94,173 Mortgage-backed securities in government- sponsored entities 25,669 25,669 Private-label mortgage-backed securities - 2,387 - 2,387 Total debt securities - 144,247 - 144,247 Equity securities in financial institutions 5 894 - 899 Total $ 5 $ 145,141 $ - $ 145,146 December 31, 2014 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a recurring basis: U.S. government agency securities $ - $ 22,896 $ - $ 22,896 Obligations of states and political subdivisions - 98,345 - 98,345 Mortgage-backed securities in government- sponsored entities - 29,391 - 29,391 Private-label mortgage-backed securities - 2,919 - 2,919 Total debt securities - 153,551 - 153,551 Equity securities in financial institutions 5 778 - 783 Total $ 5 $ 154,329 $ - $ 154,334 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | September 30, 2015 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a nonrecurring basis: Impaired loans $ - $ - $ 11,277 $ 11,277 Other real estate owned - - 2,006 2,006 December 31, 2014 (Dollar amounts in thousands) Level I Level II Level III Total Assets measured on a nonrecurring basis: Impaired loans $ - $ - $ 12,772 $ 12,772 Other real estate owned - - 2,590 2,590 |
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) September 30, 2015 Impaired loans $ 5,687 Discounted cash flow Discount rate -3.1% to -7.9% -5.1% 5,590 Appraisal of collateral (1) Appraisal adjustments (2) 0.0% to -73.6% -26.2% Other real estate owned $ 2,006 Appraisal of collateral (1) Appraisal adjustments (2) 0.0% to -10.0% -7.4% Quantitative Information about Level III Fair Value Measurements (Dollar amounts in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range (Weighted Average) December 31, 2014 Impaired loans $ 12,772 Appraisal of collateral (1) Appraisal adjustments (2) 0% to -84.6% -25.5% Other real estate owned $ 2,590 Appraisal of collateral (1) Appraisal adjustments (2) 0% to -10.0% -7.5% |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2015 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Cash and cash equivalents $ 23,295 $ 23,295 $ - $ - $ 23,295 Investment securities Available for sale 145,146 - 145,146 - 145,146 Loans held for sale 620 - 620 - 620 Net loans 503,912 - - 514,215 514,215 Bank-owned life insurance 13,354 13,354 - - 13,354 Federal Home Loan Bank stock 1,887 1,887 - - 1,887 Accrued interest receivable 2,576 2,576 - - 2,576 Financial liabilities: Deposits $ 626,548 $ 439,184 $ - $ 170,815 $ 609,999 Short-term borrowings 4,047 4,047 - - 4,047 Other borrowings 10,300 - - 12,482 12,482 Accrued interest payable 373 373 - - 373 December 31, 2014 Carrying Total Value Level I Level II Level III Fair Value (Dollar amounts in thousands) Financial assets: Cash and cash equivalents $ 25,639 $ 25,639 $ - $ - $ 25,639 Investment securities Available for sale 154,334 - 154,334 - 154,334 Loans held for sale 438 - 438 - 438 Net loans 463,738 - - 475,019 475,019 Bank-owned life insurance 9,092 9,092 - - 9,092 Federal Home Loan Bank stock0 1,887 1,887 - - 1,887 Accrued interest receivable 2,095 2,095 - - 2,095 Financial liabilities: Deposits $ 586,112 $ 416,254 $ - $ 170,542 $ 586,796 Short-term borrowings 14,808 14,808 - - 14,808 Other borrowings 10,624 - 10,822 10,822 Accrued interest payable 315 315 - - 315 |
Note 5 - Accumulated Other Co22
Note 5 - Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized gains on available-for-sale (Dollars in thousands) securities Balance as of December 31, 2014 $ 2,548 Other comprehensive income before reclassification (461 ) Amount reclassified from accumulated other comprehensive income (170 ) Period change (631 ) Balance at September 30, 2015 $ 1,917 Balance at June 30, 2015 $ 1,122 Other comprehensive loss before reclassification 935 Amount reclassified from accumulated other comprehensive income (140 ) Period change 795 Balance at September 30, 2015 $ 1,917 Unrealized gains on available-for-sale (Dollars in thousands) securities Balance as of December 31, 2013 $ (2,237 ) Other comprehensive income before reclassification 4,026 Amount reclassified from accumulated other comprehensive loss (164 ) Period change 3,862 Balance at September 30, 2014 1,625 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 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | (Dollars in thousands) Amount Reclassified from Accumulated Other Comprehensive Income (a) For the Three Months Ended Affected Line Item in the Statement Where Net Income is Details about other comprehensive income September 30, 2015 September 30, 2014 Presented Unrealized gains on available-for-sale securities $ 211 $ 190 Investment securities gains, net (71 ) (64 ) Income taxes $ 140 $ 126 Net of tax (Dollars in thousands) Amount Reclassified from Accumulated Other Comprehensive Income (a) For the Nine Months Ended Affected Line Item in the Statement Where Net Income is Details about other comprehensive income September 30, 2015 September 30, 2014 Presented Unrealized gains on available-for-sale securities $ 257 $ 248 Investment securities gains, net (87 ) (84 ) Income taxes $ 170 $ 164 Net of tax |
Note 6 - Investment Securitie23
Note 6 - Investment Securities Available for Sale (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 30, 2015 Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value U.S. government agency securities $ 21,984 $ 298 $ (264 ) $ 22,018 Obligations of states and political subdivisions: Taxable 1,990 156 - 2,146 Tax-exempt 89,932 2,759 (664 ) 92,027 Mortgage-backed securities in government-sponsored entities 25,400 409 (140 ) 25,669 Private-label mortgage-backed securities 2,187 200 - 2,387 Total debt securities 141,493 3,822 (1,068 ) 144,247 Equity securities in financial institutions 750 149 - 899 Total $ 142,243 $ 3,971 $ (1,068 ) $ 145,146 December 31, 2014 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value U.S. government agency securities $ 23,035 $ 311 $ (450 ) $ 22,896 Obligations of states and political subdivisions: Taxable 2,953 226 - 3,179 Tax-exempt 91,916 3,803 (553 ) 95,166 Mortgage-backed securities in government-sponsored entities 29,150 475 (234 ) 29,391 Private-label mortgage-backed securities 2,672 247 - 2,919 Total debt securities 149,726 5,062 (1,237 ) 153,551 Equity securities in financial institutions 750 33 - 783 Total $ 150,476 $ 5,095 $ (1,237 ) $ 154,334 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 520 $ 523 Due after one year through five years 10,013 10,159 Due after five years through ten years 17,714 18,147 Due after ten years 113,246 115,418 Total $ 141,493 $ 144,247 |
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, 2015 2014 2015 2014 Proceeds from sales $ 11,973 $ 6,888 $ 15,284 $ 8,382 Gross realized gains 233 227 373 291 Gross realized losses (22 ) (37 ) (116 ) (43 ) |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 2015 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 $ 2,745 $ (54 ) $ 12,791 $ (210 ) $ 15,536 $ (264 ) Obligations of states and political subdivisions 19,988 (139 ) 11,586 (525 ) 31,574 (664 ) Mortgage-backed securities in government-sponsored entities 9,410 (12 ) 7,305 (128 ) 16,715 (140 ) Total $ 32,143 $ (205 ) $ 31,682 $ (863 ) $ 63,825 $ (1,068 ) December 31, 2014 Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses U.S. government agency securities $ - $ - $ 15,734 $ (450 ) $ 15,734 $ (450 ) Obligations of states and political subdivisions 2,406 (10 ) 18,232 (543 ) 20,638 (553 ) Mortgage-backed securities in government-sponsored entities - - 16,774 (234 ) 16,774 (234 ) Total $ 2,406 $ (10 ) $ 50,740 $ (1,227 ) $ 53,146 $ (1,237 ) |
Note 7 - Loans and Related Al24
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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, 2015 2014 Commercial and industrial $ 53,154 $ 60,744 Real estate - construction 17,576 30,296 Real estate - mortgage: Residential 260,291 227,552 Commercial 174,336 147,413 Consumer installment 4,875 4,579 510,232 470,584 Less: Allowance for loan and lease losses 6,320 6,846 Net loans $ 503,912 $ 463,738 |
Schedule of Financing Receivable by Segment [Table Text Block] | Real Estate- Mortgage September 30, 2015 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Loans: Individually evaluated for impairment $ 1,603 $ 1,887 $ 3,925 $ 4,481 $ 6 $ 11,902 Collectively evaluated for impairment 51,551 15,689 256,366 169,855 4,869 498,330 Total loans $ 53,154 $ 17,576 $ 260,291 $ 174,336 $ 4,875 $ 510,232 Real estate- Mortgage December 31, 2014 Commercial and industrial Real estate- construction Residential Commercial Consumer installment Total Loans: Individually evaluated for impairment $ 1,393 $ 3,296 $ 5,183 $ 4,490 $ 6 $ 14,368 Collectively evaluated for impairment 59,351 27,000 222,369 142,923 4,573 456,216 Total loans $ 60,744 $ 30,296 $ 227,552 $ 147,413 $ 4,579 $ 470,584 |
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block] | Real Estate- Mortgage September 30, 2015 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 $ 119 $ 153 $ 267 $ 86 $ - $ 625 Collectively evaluated for impairment 459 181 3,159 1,853 43 5,695 Total ending allowance balance $ 578 $ 334 $ 3,426 $ 1,939 $ 43 $ 6,320 Real Estate- Mortgage December 31, 2014 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 $ 83 $ 589 $ 892 $ 30 $ 2 $ 1,596 Collectively evaluated for impairment 559 279 2,811 1,546 55 5,250 Total ending allowance balance $ 642 $ 868 $ 3,703 $ 1,576 $ 57 $ 6,846 Commercial and industrial Real estate- construction Real estate- residential mortgage Real estate- commercial mortgage Consumer installment Total ALLL balance at December 31, 2014 $ 642 $ 868 $ 3,703 $ 1,576 $ 57 $ 6,846 Charge-offs (196 ) (385 ) (425 ) (92 ) (11 ) (1,109 ) Recoveries 186 - 161 5 21 373 Provision (54 ) (149 ) (13 ) 450 (24 ) 210 ALLL balance at September 30, 2015 $ 578 $ 334 $ 3,426 $ 1,939 $ 43 $ 6,320 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 June 30, 2015 $ 610 $ 363 $ 3,347 $ 1,978 $ 48 $ 6,346 Charge-offs (100 ) - (124 ) (5 ) - (229 ) Recoveries 5 - 81 5 7 98 Provision 63 (29 ) 122 (39 ) (12 ) 105 ALLL balance at September 30, 2015 $ 578 $ 334 $ 3,426 $ 1,939 $ 43 $ 6,320 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 |
Impaired Financing Receivables [Table Text Block] | September 30, 2015 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial and industrial $ 675 $ 673 $ - Real estate - construction 1,735 1,734 - Real estate - mortgage: Residential 2,100 2,098 - Commercial 2,277 2,276 - Consumer installment 6 6 - Total $ 6,793 $ 6,787 $ - With an allowance recorded: Commercial and industrial $ 928 $ 926 $ 119 Real estate - construction 152 152 153 Real estate - mortgage: Residential 1,825 1,825 267 Commercial 2,204 2,198 86 Total $ 5,109 $ 5,101 $ 625 Total: Commercial and industrial $ 1,603 $ 1,599 $ 119 Real estate - construction 1,887 1,886 153 Real estate - mortgage: Residential 3,925 3,923 267 Commercial 4,481 4,474 86 Consumer installment 6 6 - Total $ 11,902 $ 11,888 $ 625 December 31, 2014 Impaired Loans Unpaid Recorded Principal Related Investment Balance Allowance With no related allowance recorded: Commercial and industrial $ 1,146 $ 1,145 $ - Real estate - construction 2,707 2,705 - Real estate - mortgage: Residential 2,202 2,197 - Commercial 4,064 4,060 - Total $ 10,119 $ 10,107 $ - With an allowance recorded: Commercial and industrial $ 247 $ 247 $ 83 Real estate - construction 589 589 589 Real estate - mortgage: Residential 2,981 2,978 892 Commercial 426 426 30 Consumer installment 6 6 2 Total $ 4,249 $ 4,246 $ 1,596 Total: Commercial and industrial $ 1,393 $ 1,392 $ 83 Real estate - construction 3,296 3,294 589 Real estate - mortgage: Residential 5,183 5,175 892 Commercial 4,490 4,486 30 Consumer installment 6 6 2 Total $ 14,368 $ 14,353 $ 1,596 |
Schedule of Additional Information Related to Impaired Loans [Table Text Block] | For the Three Months Ended September 30, 2015 For the Nine Months Ended September 30, 2015 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Total: Commercial and industrial $ 1,480 $ 21 $ 1,354 $ 73 Real estate - construction 2,347 28 2,614 94 Real estate - mortgage: Residential 4,195 43 4,514 128 Commercial 5,476 71 4,871 200 Consumer installment 6 - 6 - $ 13,504 $ 163 $ 13,358 $ 495 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 Total: 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 - $ 15,929 $ 205 $ 16,760 $ 595 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special Total Pass Mention Substandard Doubtful Loans September 30, 2015 Commercial and industrial $ 51,230 $ 504 $ 1,384 $ 36 $ 53,154 Real estate - construction 16,836 - 588 152 17,576 Real estate - mortgage: Residential 254,170 549 5,572 - 260,291 Commercial 161,721 4,622 7,993 - 174,336 Consumer installment 4,868 - 7 - 4,875 Total $ 488,825 $ 5,675 $ 15,544 $ 188 $ 510,232 Special Total Pass Mention Substandard Doubtful Loans December 31, 2014 Commercial and industrial $ 58,976 $ - $ 1,730 $ 38 $ 60,744 Real estate - construction 29,212 495 - 589 30,296 Real estate - mortgage: Residential 218,244 584 8,724 - 227,552 Commercial 137,755 3,908 5,750 - 147,413 Consumer installment 4,572 - 7 - 4,579 Total $ 448,759 $ 4,987 $ 16,211 $ 627 $ 470,584 |
Past Due Financing Receivables [Table Text Block] | 30-59 Days 60-89 Days 90 Days+ Total Total Current Past Due Past Due Past Due Past Due Loans September 30, 2015 Commercial and industrial $ 52,398 $ 567 $ 166 $ 23 $ 756 $ 53,154 Real estate - construction 16,988 588 - - 588 17,576 Real estate - mortgage: Residential 257,976 1,241 112 962 2,315 260,291 Commercial 173,522 132 426 256 814 174,336 Consumer installment 4,845 30 - - 30 4,875 Total $ 505,729 $ 2,558 $ 704 $ 1,241 $ 4,503 $ 510,232 30-59 Days 60-89 Days 90 Days+ Total Total Current Past Due Past Due Past Due Past Due Loans December 31, 2014 Commercial and industrial $ 60,296 $ 349 $ 68 $ 31 $ 448 $ 60,744 Real estate - construction 30,296 - - - - 30,296 Real estate - mortgage: Residential 223,209 2,065 363 1,915 4,343 227,552 Commercial 146,816 30 - 567 597 147,413 Consumer installment 4,547 27 3 2 32 4,579 Total $ 465,164 $ 2,471 $ 434 $ 2,515 $ 5,420 $ 470,584 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | September 30, 2015 90+ Days Past Nonaccrual Due and Accruing Commercial and industrial $ 836 $ 49 Real estate - construction 142 - Real estate - mortgage: Residential 3,592 - Commercial 1,842 - Consumer installment 4 - Total $ 6,416 $ 49 December 31, 2014 90+ Days Past Nonaccrual Due and Accruing Commercial and industrial $ 365 $ - Real estate - construction 587 - Real estate - mortgage: Residential 5,438 165 Commercial 955 - Consumer installment 2 - Total $ 7,347 $ 165 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | For the Three Months Ended September 30, 2015 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 2 - 2 $ 15 $ 15 Residential real estate 1 - 1 164 164 Consumer 1 - 1 9 9 For the Nine Months Ended September 30, 2015 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 3 1 4 $ 126 $ 126 Real estate construction 1 - 1 181 181 Residential real estate 2 1 3 398 418 Consumer 1 - 1 9 9 For the Three Months Ended September 30, 2014 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 1 - 1 $ 75 $ 75 Residential real estate 2 - 2 165 165 For the Nine Months Ended September 30, 2014 Number of Contracts Pre-Modification Post-Modification Troubled Debt Restructurings Term Modification Other Total Outstanding Recorded Investment Outstanding Recorded Investment Commercial and industrial 2 - 2 $ 82 $ 82 Residential real estate 3 - 3 215 215 Commercial real estate 1 - 1 73 73 Consumer 1 - 1 7 7 |
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] | For the Three Months Ended September 30, 2015 Troubled Debt Restructurings subsequently defaulted Number of Contracts Recorded Investment Commercial and industrial 1 $ 8 Consumer 1 8 For the Nine Months Ended September 30, 2015 Troubled Debt Restructurings subsequently defaulted Number of Contracts Recorded Investment Commercial and industrial 3 $ 55 Real estate construction 1 152 Consumer 1 8 |
Note 2- Stock-based Compensat25
Note 2- Stock-based Compensation (Details) - USD ($) | Sep. 30, 2015 | Sep. 30, 2014 |
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- Stock-based Compensat26
Note 2- Stock-based Compensation (Details) - Stock Option Activity - $ / shares | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Stock Option Activity [Abstract] | ||
Outstanding, January 1 | 46,451 | 58,581 |
Outstanding, January 1 | $ 27.90 | $ 28.38 |
Expired | (3,639) | (1,735) |
Expired | $ 37.33 | $ 30.45 |
Exercised | (1,025) | 0 |
Exercised | $ 20.21 | $ 0 |
Forfeited | 0 | (907) |
Forfeited | $ 0 | $ 27.35 |
Outstanding, September 30 | 41,787 | 55,939 |
Outstanding, September 30 | $ 27.27 | $ 28.34 |
Exercisable, September 30 | 41,787 | 55,939 |
Exercisable, September 30 | $ 27.27 | $ 28.34 |
Note 3 - Earnings Per Share (De
Note 3 - Earnings Per Share (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 3 - Earnings Per Share (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 41,787 | 55,939 | 41,787 | 55,939 | 46,451 | 58,581 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $ 17.55 | $ 17.55 | $ 17.55 | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $ 40.24 | $ 40.24 | $ 40.24 | |||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 8,585 | 7,888 | 9,254 | 6,688 | ||
Employee Stock Option [Member] | ||||||
Note 3 - Earnings Per Share (Details) [Line Items] | ||||||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 27,375 | |||||
Employee Stock Option [Member] | ||||||
Note 3 - Earnings Per Share (Details) [Line Items] | ||||||
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 26,350 | 26,350 | 28,282 |
Note 3 - Earnings Per Share (28
Note 3 - Earnings Per Share (Details) - Shares Used in Calculation of Earnings Per Share - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Shares Used in Calculation of Earnings Per Share [Abstract] | ||||
Weighted-average common shares outstanding | 2,253,584 | 2,233,654 | 2,248,468 | 2,228,502 |
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 | 2,064,054 | 2,044,124 | 2,058,938 | 2,038,972 |
Additional common stock equivalents (stock options) used to calculate diluted earnings per share | 8,585 | 7,888 | 9,254 | 6,688 |
Weighted-average common shares and common stock equivalents used to calculate diluted earnings per share | 2,072,639 | 2,052,012 | 2,068,192 | 2,045,660 |
Note 4 - Fair Value Measureme29
Note 4 - Fair Value Measurements (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
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 Measureme30
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | $ 145,146 | $ 154,334 |
Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 145,146 | 154,334 |
US Government Agencies Debt Securities [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 22,018 | 22,896 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 22,018 | 22,896 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 94,173 | 98,345 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 25,669 | 29,391 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 25,669 | 29,391 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 2,387 | 2,919 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 2,387 | 2,919 |
Debt Securities [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 144,247 | 153,551 |
Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 144,247 | 153,551 |
Equity Securities in Financial Institutions [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 899 | 783 |
Equity Securities in Financial Institutions [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 899 | 783 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 5 | 5 |
Fair Value, Inputs, Level 1 [Member] | Equity Securities in Financial Institutions [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 5 | 5 |
Fair Value, Inputs, Level 2 [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 145,146 | 154,334 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 145,141 | 154,329 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 22,018 | 22,896 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 94,173 | 98,345 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 25,669 | 29,391 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 2,387 | 2,919 |
Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | 144,247 | 153,551 |
Fair Value, Inputs, Level 2 [Member] | Equity Securities in Financial Institutions [Member] | Fair Value, Measurements, Recurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Recurring Basis [Line Items] | ||
Investment securities available for sale, at fair value | $ 894 | $ 778 |
Note 4 - Fair Value Measureme31
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Nonrecurring Basis - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 11,902 | $ 14,368 |
Estimate of Fair Value Measurement [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Nonrecurring Basis [Line Items] | ||
Impaired loans | 11,277 | 12,772 |
Other real estate owned | 2,006 | 2,590 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Note 4 - Fair Value Measurements (Details) - Assets Measured on a Nonrecurring Basis [Line Items] | ||
Impaired loans | 11,277 | 12,772 |
Other real estate owned | $ 2,006 | $ 2,590 |
Note 4 - Fair Value Measureme32
Note 4 - Fair Value Measurements (Details) - Additional Quantitative Information About Assets Measured at Fair Value on Non-recurring Basis - Fair Value, Inputs, Level 3 [Member] - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | ||
Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Fair Value Estimate (in Dollars) | $ 5,687 | ||
Valuation Techniques / Unobservable Input | Discounted cash flow | ||
Appraisal Adjustments [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Fair Value Estimate (in Dollars) | $ 5,590 | $ 12,772 | |
Valuation Techniques / Unobservable Input | [1] | Appraisal of collateral (1) | Appraisal of collateral (1) |
Appraisal Adjustments [Member] | Other Real Estate Owned [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Fair Value Estimate (in Dollars) | $ 2,006 | $ 2,590 | |
Valuation Techniques / Unobservable Input | [1] | Appraisal of collateral (1) | Appraisal of collateral (1) |
Minimum [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | (3.10%) | ||
Discount Rate, Weighted Average | (3.10%) | ||
Minimum [Member] | Appraisal Adjustments [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | (0.00%) | (0.00%) | |
Discount Rate, Weighted Average | (0.00%) | (0.00%) | |
Minimum [Member] | Appraisal Adjustments [Member] | Other Real Estate Owned [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | (0.00%) | (0.00%) | |
Discount Rate, Weighted Average | (0.00%) | (0.00%) | |
Maximum [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | (7.90%) | ||
Discount Rate, Weighted Average | (7.90%) | ||
Maximum [Member] | Appraisal Adjustments [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | (73.60%) | (84.60%) | |
Discount Rate, Weighted Average | (73.60%) | (84.60%) | |
Maximum [Member] | Appraisal Adjustments [Member] | Other Real Estate Owned [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | (10.00%) | (10.00%) | |
Discount Rate, Weighted Average | (10.00%) | (10.00%) | |
Weighted Average [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | (5.10%) | ||
Discount Rate, Weighted Average | (5.10%) | ||
Weighted Average [Member] | Appraisal Adjustments [Member] | Impaired Loans [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | (26.20%) | (25.50%) | |
Discount Rate, Weighted Average | (26.20%) | (25.50%) | |
Weighted Average [Member] | Appraisal Adjustments [Member] | Other Real Estate Owned [Member] | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |||
Discount Rate | (7.40%) | (7.50%) | |
Discount Rate, Weighted Average | (7.40%) | (7.50%) | |
[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 Measureme33
Note 4 - Fair Value Measurements (Details) - Estimated Fair Value of the Company’s Financial Instruments - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Financial assets: | ||||
Cash and cash equivalents | $ 23,295 | $ 25,639 | $ 29,302 | $ 26,193 |
Cash and cash equivalents, fair value | 23,295 | 25,639 | ||
Investment securities available for sale | 145,146 | 154,334 | ||
Investment securities available for sale, at fair value | 145,146 | 154,334 | ||
Loans held for sale | 620 | 438 | ||
Loans held for sale, fair value | 620 | 438 | ||
Net loans | 503,912 | 463,738 | ||
Net loans, fair value | 514,215 | 475,019 | ||
Bank-owned life insurance | 13,354 | 9,092 | ||
Bank-owned life insurance, fair value | 13,354 | 9,092 | ||
Federal Home Loan Bank stock | 1,887 | 1,887 | ||
Federal Home Loan Bank stock, fair value | 1,887 | 1,887 | ||
Accrued interest receivable | 2,576 | 2,095 | ||
Accrued interest receivable, fair value | 2,576 | 2,095 | ||
Financial liabilities: | ||||
Deposits | 626,548 | 586,112 | ||
Deposits, fair value | 609,999 | 586,796 | ||
Short-term borrowings | 4,047 | 14,808 | ||
Short-term borrowings, fair value | 4,047 | 14,808 | ||
Other borrowings | 10,300 | 10,624 | ||
Other borrowings, fair value | 12,482 | 10,822 | ||
Accrued interest payable | 373 | 315 | ||
Accrued interest payable, fair value | 373 | 315 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents, fair value | 23,295 | 25,639 | ||
Bank-owned life insurance | 13,354 | 9,092 | ||
Bank-owned life insurance, fair value | 13,354 | 9,092 | ||
Federal Home Loan Bank stock | 1,887 | 1,887 | ||
Federal Home Loan Bank stock, fair value | 1,887 | 1,887 | ||
Accrued interest receivable | 2,576 | 2,095 | ||
Accrued interest receivable, fair value | 2,576 | 2,095 | ||
Financial liabilities: | ||||
Deposits, fair value | 439,184 | 416,254 | ||
Short-term borrowings, fair value | 4,047 | 14,808 | ||
Accrued interest payable | 373 | 315 | ||
Accrued interest payable, fair value | 373 | 315 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial assets: | ||||
Investment securities available for sale | 145,146 | 154,334 | ||
Investment securities available for sale, at fair value | 145,146 | 154,334 | ||
Loans held for sale, fair value | 620 | 438 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets: | ||||
Net loans, fair value | 514,215 | 475,019 | ||
Financial liabilities: | ||||
Deposits, fair value | 170,815 | 170,542 | ||
Other borrowings, fair value | $ 12,482 | $ 10,822 |
Note 5 - Accumulated Other Co34
Note 5 - Accumulated Other Comprehensive Income (Details) - Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax [Abstract] | ||||
Beginning balance | $ 1,122 | $ 859 | $ 2,548 | $ (2,237) |
Period change | 795 | 766 | (631) | 3,862 |
Ending balance | 1,917 | 1,625 | 1,917 | 1,625 |
Other comprehensive income (loss) before reclassification | 935 | 892 | (461) | 4,026 |
Amount reclassified from accumulated other comprehensive income (loss) | $ (140) | $ (126) | $ (170) | $ (164) |
Note 5 - Accumulated Other Co35
Note 5 - Accumulated Other Comprehensive Income (Details) - Significant Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | ||
Significant Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) [Abstract] | |||||
Unrealized gains on available-for-sale securities | [1] | $ 211 | $ 190 | $ 257 | $ 248 |
[1] | (71) | (64) | (87) | (84) | |
[1] | $ 140 | $ 126 | $ 170 | $ 164 | |
[1] | Amounts in parentheses indicate debits to net income |
Note 6 - Investment Securitie36
Note 6 - Investment Securities Available for Sale (Details) | Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2014 |
Note 6 - Investment Securities Available for Sale (Details) [Line Items] | |||
Available-for-sale Securities Pledged as Collateral (in Dollars) | $ 73,900,000 | $ 61,900,000 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 91 | ||
Available-for-sale Securities, Percentage of Portfolio | 98.00% | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Credit Losses on Debt Securities Held (in Dollars) | $ 0 | ||
Available-for-sale Securities [Member] | |||
Note 6 - Investment Securities Available for Sale (Details) [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 0 | 0 |
Note 6 - Investment Securitie37
Note 6 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 6 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Values of Securities Available for Sale [Line Items] | ||
Amortized cost | $ 142,243 | $ 150,476 |
Gross unrealized gains | 3,971 | 5,095 |
Gross unrealized losses | (1,068) | (1,237) |
Investment securities available for sale, at fair value | 145,146 | 154,334 |
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 | 21,984 | 23,035 |
Gross unrealized gains | 298 | 311 |
Gross unrealized losses | (264) | (450) |
Investment securities available for sale, at fair value | 22,018 | 22,896 |
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 | 1,990 | 2,953 |
Gross unrealized gains | 156 | 226 |
Investment securities available for sale, at fair value | 2,146 | 3,179 |
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 | 89,932 | 91,916 |
Gross unrealized gains | 2,759 | 3,803 |
Gross unrealized losses | (664) | (553) |
Investment securities available for sale, at fair value | 92,027 | 95,166 |
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 | 25,400 | 29,150 |
Gross unrealized gains | 409 | 475 |
Gross unrealized losses | (140) | (234) |
Investment securities available for sale, at fair value | 25,669 | 29,391 |
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 | 2,187 | 2,672 |
Gross unrealized gains | 200 | 247 |
Investment securities available for sale, at fair value | 2,387 | 2,919 |
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 | 141,493 | 149,726 |
Gross unrealized gains | 3,822 | 5,062 |
Gross unrealized losses | (1,068) | (1,237) |
Investment securities available for sale, at fair value | 144,247 | 153,551 |
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 | 149 | 33 |
Investment securities available for sale, at fair value | $ 899 | $ 783 |
Note 6 - Investment Securitie38
Note 6 - Investment Securities Available for Sale (Details) - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity $ in Thousands | Sep. 30, 2015USD ($) |
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity [Abstract] | |
Due in one year or less | $ 520 |
Due in one year or less | 523 |
Due after one year through five years | 10,013 |
Due after one year through five years | 10,159 |
Due after five years through ten years | 17,714 |
Due after five years through ten years | 18,147 |
Due after ten years | 113,246 |
Due after ten years | 115,418 |
Total | 141,493 |
Total | $ 144,247 |
Note 6 - Investment Securitie39
Note 6 - Investment Securities Available for Sale (Details) - Sales of Available for Sale Securities - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Sales of Available for Sale Securities [Abstract] | ||||
Proceeds from sales | $ 11,973 | $ 6,888 | $ 15,284 | $ 8,382 |
Gross realized gains | 233 | 227 | 373 | 291 |
Gross realized losses | $ (22) | $ (37) | $ (116) | $ (43) |
Note 6 - Investment Securitie40
Note 6 - Investment Securities Available for Sale (Details) - Gross Unrealized Losses and Fair Value - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 6 - Investment Securities Available for Sale (Details) - Gross Unrealized Losses and Fair Value [Line Items] | ||
Less than Twelve Months, Fair Value | $ 32,143 | $ 2,406 |
Less than Twelve Months, Gross Unrealized Losses | (205) | (10) |
Twelve Months or Greater, Fair Value | 31,682 | 50,740 |
Twelve Months or Greater, Gross Unrealized Losses | (863) | (1,227) |
Total, Fair Value | 63,825 | 53,146 |
Total, Gross Unrealized Losses | (1,068) | (1,237) |
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 | 2,745 | |
Less than Twelve Months, Gross Unrealized Losses | (54) | |
Twelve Months or Greater, Fair Value | 12,791 | 15,734 |
Twelve Months or Greater, Gross Unrealized Losses | (210) | (450) |
Total, Fair Value | 15,536 | 15,734 |
Total, Gross Unrealized Losses | (264) | (450) |
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 | 19,988 | 2,406 |
Less than Twelve Months, Gross Unrealized Losses | (139) | (10) |
Twelve Months or Greater, Fair Value | 11,586 | 18,232 |
Twelve Months or Greater, Gross Unrealized Losses | (525) | (543) |
Total, Fair Value | 31,574 | 20,638 |
Total, Gross Unrealized Losses | (664) | (553) |
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 | 9,410 | |
Less than Twelve Months, Gross Unrealized Losses | (12) | |
Twelve Months or Greater, Fair Value | 7,305 | 16,774 |
Twelve Months or Greater, Gross Unrealized Losses | (128) | (234) |
Total, Fair Value | 16,715 | 16,774 |
Total, Gross Unrealized Losses | $ (140) | $ (234) |
Note 7 - Loans and Related Al41
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2015USD ($) | Sep. 30, 2014 | Dec. 31, 2014USD ($) | |
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 625,000 | $ 1,596,000 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | ||
Threshold for Loans Evaluated for Impairment [Member] | ||||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) [Line Items] | ||||
Loans and Leases Receivable, Gross, Commercial | 1,000,000 | |||
Threshold for Loans Evaluated for Impairment [Member] | Outside Consultant [Member] | ||||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) [Line Items] | ||||
Loans and Leases Receivable, Gross, Commercial | 250,000 | |||
Threshold for Loans Evaluated for Impairment [Member] | Criticized Relationships [Member] | ||||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) [Line Items] | ||||
Financing Receivable, Gross | 125,000 | |||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) [Line Items] | ||||
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | $ 267,000 | $ 892,000 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 |
Note 7 - Loans and Related Al42
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Major Classifications of Net Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable Gross | $ 510,232 | $ 470,584 | ||||
Less: Allowance for loan and lease losses | 6,320 | $ 6,346 | 6,846 | $ 7,288 | $ 7,129 | $ 7,046 |
Net loans | 503,912 | 463,738 | ||||
Commercial and Industrial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable Gross | 53,154 | 60,744 | ||||
Less: Allowance for loan and lease losses | 578 | 610 | 642 | 686 | 596 | 614 |
Real Estate Construction Porfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable Gross | 17,576 | 30,296 | ||||
Less: Allowance for loan and lease losses | 334 | 363 | 868 | 843 | 423 | 576 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable Gross | 260,291 | 227,552 | ||||
Less: Allowance for loan and lease losses | 3,426 | 3,347 | 3,703 | 3,950 | 4,130 | 3,664 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable Gross | 174,336 | 147,413 | ||||
Consumer Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Financing Receivable Gross | 4,875 | 4,579 | ||||
Less: Allowance for loan and lease losses | $ 43 | $ 48 | $ 57 | $ 55 | $ 55 | $ 22 |
Note 7 - Loans and Related Al43
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Primary Segments of the Loan Portfolio - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Loans: | ||
Individually evaluated for impairment | $ 11,902 | $ 14,368 |
Collectively evaluated for impairment | 498,330 | 456,216 |
Total loans | 510,232 | 470,584 |
Commercial and Industrial [Member] | ||
Loans: | ||
Individually evaluated for impairment | 1,603 | 1,393 |
Collectively evaluated for impairment | 51,551 | 59,351 |
Total loans | 53,154 | 60,744 |
Real Estate Construction Porfolio Segment [Member] | ||
Loans: | ||
Individually evaluated for impairment | 1,887 | 3,296 |
Collectively evaluated for impairment | 15,689 | 27,000 |
Total loans | 17,576 | 30,296 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Loans: | ||
Individually evaluated for impairment | 3,925 | 5,183 |
Collectively evaluated for impairment | 256,366 | 222,369 |
Total loans | 260,291 | 227,552 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans: | ||
Individually evaluated for impairment | 4,481 | 4,490 |
Collectively evaluated for impairment | 169,855 | 142,923 |
Total loans | 174,336 | 147,413 |
Consumer Portfolio Segment [Member] | ||
Loans: | ||
Individually evaluated for impairment | 6 | 6 |
Collectively evaluated for impairment | 4,869 | 4,573 |
Total loans | $ 4,875 | $ 4,579 |
Note 7 - Loans and Related Al44
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, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Dec. 31, 2014 | |
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | $ 625,000 | $ 1,596,000 | ||||
Collectively evaluated for impairment | 5,695,000 | 5,250,000 | ||||
Total ending allowance balance | $ 6,320,000 | $ 7,288,000 | $ 6,320,000 | $ 7,046,000 | 6,320,000 | 6,846,000 |
Ending allowance balance attributable to loans: | ||||||
ALLL balance, period start | 6,346,000 | 7,129,000 | 6,846,000 | 7,046,000 | ||
ALLL balance, period end | 6,320,000 | 7,288,000 | 6,320,000 | 7,288,000 | ||
Charge-offs | (229,000) | (32,000) | (1,109,000) | (616,000) | ||
Recoveries | 98,000 | 121,000 | 373,000 | 488,000 | ||
Provision | 105,000 | 70,000 | 210,000 | 370,000 | ||
Commercial and Industrial [Member] | ||||||
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | 119,000 | 83,000 | ||||
Collectively evaluated for impairment | 459,000 | 559,000 | ||||
Total ending allowance balance | 578,000 | 686,000 | 578,000 | 614,000 | 578,000 | 642,000 |
Ending allowance balance attributable to loans: | ||||||
ALLL balance, period start | 610,000 | 596,000 | 642,000 | 614,000 | ||
ALLL balance, period end | 578,000 | 686,000 | 578,000 | 686,000 | ||
Charge-offs | (100,000) | (3,000) | (196,000) | (95,000) | ||
Recoveries | 5,000 | 23,000 | 186,000 | 88,000 | ||
Provision | 63,000 | 70,000 | (54,000) | 79,000 | ||
Real Estate Construction Porfolio Segment [Member] | ||||||
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | 153,000 | 589,000 | ||||
Collectively evaluated for impairment | 181,000 | 279,000 | ||||
Total ending allowance balance | 334,000 | 843,000 | 334,000 | 576,000 | 334,000 | 868,000 |
Ending allowance balance attributable to loans: | ||||||
ALLL balance, period start | 363,000 | 423,000 | 868,000 | 576,000 | ||
ALLL balance, period end | 334,000 | 843,000 | 334,000 | 843,000 | ||
Charge-offs | 0 | 0 | (385,000) | 0 | ||
Recoveries | 0 | 0 | 60,000 | |||
Provision | (29,000) | 420,000 | (149,000) | 207,000 | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||||
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | 267,000 | 892,000 | ||||
Collectively evaluated for impairment | 3,159,000 | 2,811,000 | ||||
Total ending allowance balance | 3,426,000 | 3,950,000 | 3,426,000 | 3,664,000 | 3,426,000 | 3,703,000 |
Ending allowance balance attributable to loans: | ||||||
ALLL balance, period start | 3,347,000 | 4,130,000 | 3,703,000 | 3,664,000 | ||
ALLL balance, period end | 3,426,000 | 3,950,000 | 3,426,000 | 3,950,000 | ||
Charge-offs | (124,000) | (24,000) | (425,000) | (481,000) | ||
Recoveries | 81,000 | 94,000 | 161,000 | 289,000 | ||
Provision | 122,000 | (250,000) | (13,000) | 478,000 | ||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||||||
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | 86,000 | 30,000 | ||||
Collectively evaluated for impairment | 1,853,000 | 1,546,000 | ||||
Total ending allowance balance | 1,939,000 | 1,754,000 | 1,939,000 | 2,170,000 | 1,939,000 | 1,576,000 |
Ending allowance balance attributable to loans: | ||||||
ALLL balance, period start | 1,978,000 | 1,925,000 | 1,576,000 | 2,170,000 | ||
ALLL balance, period end | 1,939,000 | 1,754,000 | 1,939,000 | 1,754,000 | ||
Charge-offs | (5,000) | 0 | (92,000) | 0 | ||
Recoveries | 5,000 | 5,000 | 40,000 | |||
Provision | (39,000) | (171,000) | 450,000 | (456,000) | ||
Consumer Portfolio Segment [Member] | ||||||
Ending allowance balance attributable to loans: | ||||||
Individually evaluated for impairment | 0 | 2,000 | ||||
Collectively evaluated for impairment | 43,000 | 55,000 | ||||
Total ending allowance balance | 43,000 | 55,000 | 43,000 | 22,000 | $ 43,000 | $ 57,000 |
Ending allowance balance attributable to loans: | ||||||
ALLL balance, period start | 48,000 | 55,000 | 57,000 | 22,000 | ||
ALLL balance, period end | 43,000 | 55,000 | 43,000 | 55,000 | ||
Charge-offs | (5,000) | (11,000) | (40,000) | |||
Recoveries | 7,000 | 4,000 | 21,000 | 11,000 | ||
Provision | $ (12,000) | $ 1,000 | $ (24,000) | $ 62,000 |
Note 7 - Loans and Related Al45
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Impaired Loans by Class - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
With no related allowance recorded: | ||
Recorded investment, with no related allowance | $ 6,793 | $ 10,119 |
Unpaid principal balance, with no related allowance | 6,787 | 10,107 |
With an allowance recorded: | ||
Recorded investment, with related allowance | 5,109 | 4,249 |
Unpaid principal balance, with related allowance | 5,101 | 4,246 |
Related allowance | 625 | 1,596 |
Total: | ||
Recorded investment | 11,902 | 14,368 |
Unpaid principal balance | 11,888 | 14,353 |
Related allowance | 625 | 1,596 |
Residential Loan [Member] | ||
With no related allowance recorded: | ||
Recorded investment, with no related allowance | 2,202 | |
Unpaid principal balance, with no related allowance | 2,197 | |
Commercial Loans [Member] | ||
With no related allowance recorded: | ||
Recorded investment, with no related allowance | 4,064 | |
Unpaid principal balance, with no related allowance | 4,060 | |
With an allowance recorded: | ||
Recorded investment, with related allowance | 2,204 | |
Unpaid principal balance, with related allowance | 2,198 | |
Related allowance | 86 | |
Total: | ||
Related allowance | 86 | |
Commercial and Industrial [Member] | ||
With no related allowance recorded: | ||
Recorded investment, with no related allowance | 675 | 1,146 |
Unpaid principal balance, with no related allowance | 673 | 1,145 |
With an allowance recorded: | ||
Recorded investment, with related allowance | 928 | 247 |
Unpaid principal balance, with related allowance | 926 | 247 |
Related allowance | 119 | 83 |
Total: | ||
Recorded investment | 1,603 | 1,393 |
Unpaid principal balance | 1,599 | 1,392 |
Related allowance | 119 | 83 |
Real Estate Construction Porfolio Segment [Member] | ||
With no related allowance recorded: | ||
Recorded investment, with no related allowance | 1,735 | 2,707 |
Unpaid principal balance, with no related allowance | 1,734 | 2,705 |
With an allowance recorded: | ||
Recorded investment, with related allowance | 152 | 589 |
Unpaid principal balance, with related allowance | 152 | 589 |
Related allowance | 153 | 589 |
Total: | ||
Recorded investment | 1,887 | 3,296 |
Unpaid principal balance | 1,886 | 3,294 |
Related allowance | 153 | 589 |
Real Estate Construction Porfolio Segment [Member] | Residential Loan [Member] | ||
With an allowance recorded: | ||
Recorded investment, with related allowance | 1,825 | |
Unpaid principal balance, with related allowance | 1,825 | |
Related allowance | 267 | |
Total: | ||
Related allowance | 267 | |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
With no related allowance recorded: | ||
Recorded investment, with no related allowance | 2,100 | |
Unpaid principal balance, with no related allowance | 2,098 | |
With an allowance recorded: | ||
Recorded investment, with related allowance | 2,981 | |
Unpaid principal balance, with related allowance | 2,978 | |
Related allowance | 267 | 892 |
Total: | ||
Recorded investment | 3,925 | 5,183 |
Unpaid principal balance | 3,923 | 5,175 |
Related allowance | 267 | 892 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||
With no related allowance recorded: | ||
Recorded investment, with no related allowance | 2,277 | |
Unpaid principal balance, with no related allowance | 2,276 | |
With an allowance recorded: | ||
Recorded investment, with related allowance | 426 | |
Unpaid principal balance, with related allowance | 426 | |
Related allowance | 86 | 30 |
Total: | ||
Recorded investment | 4,481 | 4,490 |
Unpaid principal balance | 4,474 | 4,486 |
Related allowance | 86 | 30 |
Consumer Portfolio Segment [Member] | ||
With an allowance recorded: | ||
Recorded investment, with related allowance | 6 | 6 |
Unpaid principal balance, with related allowance | 6 | 6 |
Related allowance | 2 | |
Total: | ||
Recorded investment | 6 | 6 |
Unpaid principal balance | $ 6 | 6 |
Related allowance | $ 2 |
Note 7 - Loans and Related Al46
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Additional Information on Impaired Loans - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Total: | ||||
Average recorded investment | $ 13,504 | $ 15,929 | $ 13,358 | $ 16,760 |
Interest income recognized | 163 | 205 | 495 | 595 |
Commercial and Industrial [Member] | ||||
Total: | ||||
Average recorded investment | 1,480 | 1,842 | 1,354 | 2,107 |
Interest income recognized | 21 | 22 | 73 | 71 |
Real Estate Construction Porfolio Segment [Member] | ||||
Total: | ||||
Average recorded investment | 2,347 | 3,556 | 2,614 | 3,644 |
Interest income recognized | 28 | 38 | 94 | 119 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||
Total: | ||||
Average recorded investment | 4,195 | 5,328 | 4,514 | 5,319 |
Interest income recognized | 43 | 62 | 128 | 164 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||||
Total: | ||||
Average recorded investment | 5,476 | 5,192 | 4,871 | 5,678 |
Interest income recognized | 71 | 83 | 200 | 241 |
Consumer Portfolio Segment [Member] | ||||
Total: | ||||
Average recorded investment | $ 6 | $ 11 | $ 6 | $ 12 |
Note 7 - Loans and Related Al47
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Classes of the Loan Portfolio Summarized by Credit Quality - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | $ 510,232 | $ 470,584 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 488,825 | 448,759 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 5,675 | 4,987 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 15,544 | 16,211 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 188 | 627 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 53,154 | 60,744 |
Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 51,230 | 58,976 |
Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 504 | |
Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 1,384 | 1,730 |
Commercial and Industrial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 36 | 38 |
Real Estate Construction Porfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 17,576 | 30,296 |
Real Estate Construction Porfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 16,836 | 29,212 |
Real Estate Construction Porfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 495 | |
Real Estate Construction Porfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 588 | |
Real Estate Construction Porfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 152 | 589 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 260,291 | 227,552 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 254,170 | 218,244 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 549 | 584 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 5,572 | 8,724 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 174,336 | 147,413 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 161,721 | 137,755 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 4,622 | 3,908 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 7,993 | 5,750 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 4,875 | 4,579 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | 4,868 | 4,572 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable | $ 7 | $ 7 |
Note 7 - Loans and Related Al48
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Past Due Financing Receivables - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | $ 505,729 | $ 465,164 |
Loans, past due | 4,503 | 5,420 |
Loans, total | 510,232 | 470,584 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 2,558 | 2,471 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 704 | 434 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 1,241 | 2,515 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | 52,398 | 60,296 |
Loans, past due | 756 | 448 |
Loans, total | 53,154 | 60,744 |
Commercial and Industrial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 567 | 349 |
Commercial and Industrial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 166 | 68 |
Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 23 | 31 |
Real Estate Construction Porfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | 16,988 | 30,296 |
Loans, past due | 588 | |
Loans, total | 17,576 | 30,296 |
Real Estate Construction Porfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 588 | |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | 257,976 | 223,209 |
Loans, past due | 2,315 | 4,343 |
Loans, total | 260,291 | 227,552 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 1,241 | 2,065 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 112 | 363 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 962 | 1,915 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | 173,522 | 146,816 |
Loans, past due | 814 | 597 |
Loans, total | 174,336 | 147,413 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 132 | 30 |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 426 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 256 | 567 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, current balance | 4,845 | 4,547 |
Loans, past due | 30 | 32 |
Loans, total | 4,875 | 4,579 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | $ 30 | 27 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | 3 | |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans, past due | $ 2 |
Note 7 - Loans and Related Al49
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | $ 6,416 | $ 7,347 |
Loans, 90+ days past due and accruing | 49 | 165 |
Commercial and Industrial [Member] | ||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | 836 | 365 |
Loans, 90+ days past due and accruing | 49 | |
Real Estate Construction Porfolio Segment [Member] | ||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | 142 | 587 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | 3,592 | 5,438 |
Loans, 90+ days past due and accruing | 165 | |
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | 1,842 | 955 |
Consumer Portfolio Segment [Member] | ||
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Classes of the Loan Portfolio Summarized by Nonaccrual Loans and Still Accruing [Line Items] | ||
Loans, nonacrrual status | $ 4 | $ 2 |
Note 7 - Loans and Related Al50
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Troubled Debt Restructurings $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | |||
Pre-Modification Outstanding Recorded Investment (in Dollars) | $ 9 | |||
Post-Modification Outstanding Recorded Investment (in Dollars) | $ 9 | |||
Extended Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | |||
Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 2 | 1 | 4 | 2 |
Pre-Modification Outstanding Recorded Investment (in Dollars) | $ 15 | $ 75 | $ 126 | $ 82 |
Post-Modification Outstanding Recorded Investment (in Dollars) | $ 15 | $ 75 | $ 126 | $ 82 |
Commercial and Industrial [Member] | Extended Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 2 | 1 | 3 | 2 |
Commercial and Industrial [Member] | Other Restructurings [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | |||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | 2 | 3 | 3 |
Pre-Modification Outstanding Recorded Investment (in Dollars) | $ 164 | $ 165 | $ 398 | $ 215 |
Post-Modification Outstanding Recorded Investment (in Dollars) | $ 164 | $ 165 | $ 418 | $ 215 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Extended Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | 2 | 2 | 3 |
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | Other Restructurings [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | |||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | |||
Pre-Modification Outstanding Recorded Investment (in Dollars) | $ 73 | |||
Post-Modification Outstanding Recorded Investment (in Dollars) | $ 73 | |||
Real Estate Mortgage Portfolio Segment [Member] | Commercial Loans [Member] | Extended Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | |||
Real Estate Construction Porfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | |||
Pre-Modification Outstanding Recorded Investment (in Dollars) | $ 181 | |||
Post-Modification Outstanding Recorded Investment (in Dollars) | $ 181 | |||
Real Estate Construction Porfolio Segment [Member] | Extended Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | |||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment (in Dollars) | $ 9 | $ 7 | ||
Post-Modification Outstanding Recorded Investment (in Dollars) | $ 9 | $ 7 | ||
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | 1 |
Note 7 - Loans and Related Al51
Note 7 - Loans and Related Allowance for Loan and Lease Losses (Details) - Troubled Debt Restructurings Subsequently Defaulted $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($) | Sep. 30, 2014 | Sep. 30, 2015USD ($) | Sep. 30, 2014 | |
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | 0 | 0 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | 1 | 3 | ||
Recorded investment | $ 8 | $ 55 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | 1 | 1 | ||
Recorded investment | $ 8 | $ 8 | ||
Real Estate Mortgage Portfolio Segment [Member] | Residential Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of contracts | 1 | |||
Recorded investment | $ 152 |
Note 8 - Other Real Estate Ow52
Note 8 - Other Real Estate Owned ("OREO") (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Disclosure Text Block [Abstract] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $ 2,006 | $ 2,590 |
Other Real Estate, Foreclosed Assets, Initiated Formal Foreclosure Proceedings | $ 1,100 |
Note 9 - Subsequent Events (Det
Note 9 - Subsequent Events (Details) - Subsequent Event [Member] - Eric D. Hovde [Member] | Oct. 05, 2015$ / sharesshares |
Note 9 - Subsequent Events (Details) [Line Items] | |
Treasury Stock, Shares, Acquired | 196,635 |
Percentage of Outstanding Common Stock Owned by Third Party | 9.50% |
Treasury Stock Acquired, Average Cost Per Share | $ / shares | $ 34.50 |