Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'ISABELLA BANK CORP | ' |
Entity Central Index Key | '0000842517 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 7,716,759 |
Entity Filer Category | 'Accelerated Filer | ' |
Interim_Condensed_Consolidated
Interim Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents | ' | ' |
Cash and demand deposits due from banks | $20,255 | $22,634 |
Interest bearing balances due from banks | 1,349 | 2,286 |
Total cash and cash equivalents | 21,604 | 24,920 |
Certificates of deposit held in other financial institutions | 2,045 | 4,465 |
Trading securities | 745 | 1,573 |
AFS securities (amortized cost of $500,931 in 2013 and $490,420 in 2012) | 501,057 | 504,010 |
Mortgage loans AFS | 712 | 3,633 |
Loans | ' | ' |
Commercial | 388,973 | 371,505 |
Agricultural | 92,927 | 83,606 |
Residential real estate | 291,825 | 284,148 |
Consumer | 34,124 | 33,494 |
Total loans | 807,849 | 772,753 |
Less allowance for loan losses | 11,600 | 11,936 |
Net loans | 796,249 | 760,817 |
Premises and equipment | 26,018 | 25,787 |
Corporate owned life insurance | 24,213 | 22,773 |
Accrued interest receivable | 6,584 | 5,227 |
Equity securities without readily determinable fair values | 18,353 | 18,118 |
Goodwill and other intangible assets | 46,361 | 46,532 |
Other assets | 15,400 | 12,784 |
TOTAL ASSETS | 1,459,341 | 1,430,639 |
Deposits | ' | ' |
Noninterest bearing | 143,013 | 143,735 |
NOW accounts | 186,630 | 181,259 |
Certificates of deposit under $100 and other savings | 462,249 | 455,546 |
Certificates of deposit over $100 | 232,039 | 237,127 |
Total deposits | 1,023,931 | 1,017,667 |
Borrowed funds | 266,001 | 241,001 |
Accrued interest payable and other liabilities | 8,104 | 7,482 |
Total liabilities | 1,298,036 | 1,266,150 |
Shareholders' equity | ' | ' |
Common stock — no par value 15,000,000 shares authorized; issued and outstanding 7,709,781 shares (including 9,583 shares held in the Rabbi Trust) in 2013 and 7,671,846 shares (including 5,130 shares held in the Rabbi Trust) in 2012 | 137,356 | 136,580 |
Shares to be issued for deferred compensation obligations | 4,035 | 3,734 |
Retained earnings | 23,916 | 19,168 |
Accumulated other comprehensive income | -4,002 | 5,007 |
Total shareholders' equity | 161,305 | 164,489 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $1,459,341 | $1,430,639 |
Interim_Condensed_Consolidated1
Interim Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Available-for-sale securities, amortized cost | $500,931 | $490,420 |
Common stock, shares authorized | 15,000,000 | 15,000,000 |
Common stock, shares issued | 7,709,781 | 7,671,846 |
Common stock, shares outstanding | 7,709,781 | 7,671,846 |
Common stock, shares to be issued | 9,583 | 5,130 |
Interim_Condensed_Consolidated2
Interim Condensed Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest income | ' | ' | ' | ' |
Loans, including fees | $10,330 | $10,918 | $30,940 | $32,707 |
AFS securities | ' | ' | ' | ' |
Taxable | 1,787 | 1,878 | 5,419 | 5,755 |
Nontaxable | 1,275 | 1,232 | 3,753 | 3,652 |
Trading securities | 7 | 15 | 30 | 79 |
Federal funds sold and other | 106 | 121 | 331 | 363 |
Total interest income | 13,505 | 14,164 | 40,473 | 42,556 |
Interest expense | ' | ' | ' | ' |
Deposits | 1,742 | 2,203 | 5,438 | 7,083 |
Borrowings | 994 | 1,036 | 2,900 | 3,289 |
Total interest expense | 2,736 | 3,239 | 8,338 | 10,372 |
Net interest income | 10,769 | 10,925 | 32,135 | 32,184 |
Provision for loan losses | 351 | 200 | 866 | 1,100 |
Net interest income after provision for loan losses | 10,418 | 10,725 | 31,269 | 31,084 |
Noninterest income | ' | ' | ' | ' |
Service charges and fees | 2,001 | 1,543 | 5,292 | 4,800 |
Gain on sale of mortgage loans | 215 | 422 | 822 | 1,080 |
Earnings on corporate owned life insurance policies | 185 | 171 | 544 | 519 |
Gain on sale of AFS securities | 72 | 116 | 171 | 1,119 |
Other | 389 | 507 | 1,216 | 1,326 |
Total noninterest income | 2,862 | 2,759 | 8,045 | 8,844 |
Noninterest expenses | ' | ' | ' | ' |
Compensation and benefits | 5,340 | 5,130 | 16,021 | 15,663 |
Furniture and equipment | 1,303 | 1,113 | 3,684 | 3,373 |
Occupancy | 676 | 649 | 1,982 | 1,889 |
AFS security impairment loss | ' | ' | ' | ' |
Total OTTI impairment loss | 0 | 0 | 0 | 486 |
Portion of loss reported in other comprehensive income | 0 | 0 | 0 | -204 |
Net AFS security impairment loss | 0 | 0 | 0 | 282 |
Other | 2,001 | 2,236 | 6,148 | 6,682 |
Total noninterest expenses | 9,320 | 9,128 | 27,835 | 27,889 |
Income before federal income tax expense | 3,960 | 4,356 | 11,479 | 12,039 |
Federal income tax expense | 674 | 899 | 1,893 | 2,344 |
NET INCOME | $3,286 | $3,457 | $9,586 | $9,695 |
Earnings per share | ' | ' | ' | ' |
Basic | $0.43 | $0.45 | $1.25 | $1.28 |
Diluted | $0.42 | $0.44 | $1.22 | $1.24 |
Cash dividends per basic share | $0.21 | $0.20 | $0.63 | $0.60 |
Interim_Condensed_Consolidated3
Interim Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Statement of Other Comprehensive Income [Abstract] | ' | ' | ' | ' | ||||
Net income | $3,286 | $3,457 | $9,586 | $9,695 | ||||
Unrealized gains (losses) on AFS securities: | ' | ' | ' | ' | ||||
Unrealized gains (losses) arising during the period | 665 | 2,990 | -13,293 | 5,209 | ||||
Reclassification adjustment for net realized (gains) losses included in net income | -72 | -116 | -171 | -1,119 | ||||
Reclassification adjustment for impairment loss included in net income | 0 | 0 | 0 | 282 | ||||
Net unrealized gains (losses) | 593 | 2,874 | -13,464 | 4,372 | ||||
Tax effect (1) | -447 | [1] | -763 | [1] | 4,455 | [1] | -790 | [1] |
Other comprehensive income (loss) | 146 | 2,111 | -9,009 | 3,582 | ||||
Comprehensive income (loss) | $3,432 | $5,568 | $577 | $13,277 | ||||
[1] | See “Note 13 – Accumulated Other Comprehensive Income (Loss)†for tax effect reconciliation. |
Interim_Condensed_Consolidated4
Interim Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (USD $) | Total | Common Stock | Shares to be Issued for Deferred Compensation Obligations | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
In Thousands, except Share data | |||||
Beginning balances at Dec. 31, 2011 | $154,783 | $134,734 | $4,524 | $13,036 | $2,489 |
Beginning balances, shares at Dec. 31, 2011 | ' | 7,589,226 | ' | ' | ' |
Comprehensive income (loss) | 13,277 | ' | ' | 9,695 | 3,582 |
Issuance of common stock | 2,025 | 2,025 | ' | ' | ' |
Issuance of common stock, shares | ' | 85,227 | ' | ' | ' |
Common stock transferred from the Rabbi Trust to satisfy deferred compensation obligations | 0 | 95 | -95 | ' | ' |
Share based payment awards under equity compensation plan | 496 | ' | 496 | ' | ' |
Common stock purchased for deferred compensation obligations | -361 | -361 | ' | ' | ' |
Common stock repurchased pursuant to publicly announced repurchase plan | -1,520 | -1,520 | ' | ' | ' |
Common stock repurchased pursuant to publicly announced repurchase plan, shares | ' | -63,103 | ' | ' | ' |
Cash dividends | -4,553 | ' | ' | -4,553 | ' |
Ending balances at Sep. 30, 2012 | 164,147 | 134,973 | 4,925 | 18,178 | 6,071 |
Ending balances, shares at Sep. 30, 2012 | ' | 7,611,350 | ' | ' | ' |
Beginning balances at Dec. 31, 2012 | 164,489 | 136,580 | 3,734 | 19,168 | 5,007 |
Beginning balances, shares at Dec. 31, 2012 | 7,671,846 | 7,671,846 | ' | ' | ' |
Comprehensive income (loss) | 577 | ' | ' | 9,586 | -9,009 |
Issuance of common stock | 2,754 | 2,754 | ' | ' | ' |
Issuance of common stock, shares | ' | 111,904 | ' | ' | ' |
Common stock transferred from the Rabbi Trust to satisfy deferred compensation obligations | 0 | 122 | -122 | ' | ' |
Share based payment awards under equity compensation plan | 423 | ' | 423 | ' | ' |
Common stock purchased for deferred compensation obligations | -285 | -285 | ' | ' | ' |
Common stock repurchased pursuant to publicly announced repurchase plan | -1,815 | -1,815 | ' | ' | ' |
Common stock repurchased pursuant to publicly announced repurchase plan, shares | ' | -73,969 | ' | ' | ' |
Cash dividends | -4,838 | ' | ' | -4,838 | ' |
Ending balances at Sep. 30, 2013 | $161,305 | $137,356 | $4,035 | $23,916 | ($4,002) |
Ending balances, shares at Sep. 30, 2013 | 7,709,781 | 7,709,781 | ' | ' | ' |
Interim_Condensed_Consolidated5
Interim Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Statement of Stockholders' Equity [Abstract] | ' | ' | ' | ' |
Cash dividends per share | $0.21 | $0.20 | $0.63 | $0.60 |
Interim_Condensed_Consolidated6
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
OPERATING ACTIVITIES | ' | ' |
Net income | $9,586 | $9,695 |
Reconciliation of net income to net cash provided by operations: | ' | ' |
Provision for loan losses | 866 | 1,100 |
Impairment of foreclosed assets | 131 | 17 |
Depreciation | 1,903 | 1,802 |
Amortization of OMSRs | 453 | 526 |
Amortization of acquisition intangibles | 171 | 200 |
Net amortization of AFS securities | 1,595 | 1,683 |
AFS security impairment loss | 0 | 282 |
(Gain) loss on sale of AFS securities | -171 | -1,119 |
Net unrealized (gains) losses on trading securities | 23 | 41 |
Net gain on sale of mortgage loans | -822 | -1,080 |
Net unrealized (gains) losses on borrowings measured at fair value | 0 | -33 |
Increase in cash value of corporate owned life insurance policies | -544 | -519 |
Share-based payment awards under equity compensation plan | 423 | 496 |
Origination of loans held for sale | -45,992 | -69,503 |
Proceeds from loan sales | 49,735 | 70,968 |
Net changes in operating assets and liabilities which provided (used) cash: | ' | ' |
Trading securities | 805 | 2,881 |
Accrued interest receivable | -1,357 | -717 |
Other assets | 319 | -1,938 |
Accrued interest payable and other liabilities | 622 | 78 |
Net cash provided by (used in) operating activities | 17,746 | 14,860 |
INVESTING ACTIVITIES | ' | ' |
Net change in certificates of deposit held in other financial institutions | 2,420 | 3,249 |
Activity in AFS securities | ' | ' |
Sales | 16,229 | 40,677 |
Maturities and calls | 70,164 | 58,598 |
Purchases | -98,328 | -138,043 |
Loan principal originations, net | -37,385 | -19,461 |
Proceeds from sales of foreclosed assets | 1,788 | 1,446 |
Purchases of premises and equipment | -2,134 | -2,647 |
Purchases of corporate owned life insurance policies | -1,092 | 0 |
Proceeds from the redemption of corporate owned life insurance policies | 196 | 0 |
Net cash provided by (used in) investing activities | -48,142 | -56,181 |
FINANCING ACTIVITIES | ' | ' |
Acceptances and withdrawals of deposits, net | 6,264 | 31,327 |
Increase in other borrowed funds | 25,000 | 10,477 |
Cash dividends paid on common stock | -4,838 | -4,553 |
Proceeds from issuance of common stock | 2,754 | 2,025 |
Common stock repurchased | -1,815 | -1,520 |
Common stock purchased for deferred compensation obligations | -285 | -361 |
Net cash provided by (used in) financing activities | 27,080 | 37,395 |
Increase (decrease) in cash and cash equivalents | -3,316 | -3,926 |
Cash and cash equivalents at beginning of period | 24,920 | 28,590 |
Cash and cash equivalents at end of period | 21,604 | 24,664 |
SUPPLEMENTAL CASH FLOWS INFORMATION: | ' | ' |
Interest paid | 8,376 | 10,526 |
Federal income taxes paid | 1,333 | 1,467 |
SUPPLEMENTAL NONCASH INVESTING AND FINANCING INFORMATION: | ' | ' |
Transfers of loans to foreclosed assets | $1,087 | $1,588 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
BASIS OF PRESENTATION | ' |
Note 1 – Basis of Presentation | |
As used in these notes as well as in Management's Discussion and Analysis of Financial Condition and Results of Operations, references to “Isabella,” “we,” “our,” “us,” and similar terms refer to the consolidated entity consisting of Isabella Bank Corporation and its subsidiaries. Isabella Bank Corporation refers solely to the parent holding company, and Isabella Bank refers to Isabella Bank Corporation’s subsidiary, Isabella Bank. | |
The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In our opinion, all adjustments considered necessary for a fair presentation have been included. Operating results for the three and nine month periods ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. For further information, refer to the consolidated financial statements and footnotes thereto included in our annual report for the year ended December 31, 2012. | |
Our accounting policies are materially the same as those discussed in Note 1 to the Consolidated Financial Statements included in our annual report for the year ended December 31, 2012. |
Computation_of_Earnings_Per_Sh
Computation of Earnings Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
COMPUTATION OF EARNINGS PER SHARE | ' | |||||||||||||||
Note 2 – Computation of Earnings Per Share | ||||||||||||||||
Basic earnings per share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may be issued relate solely to outstanding shares in the Directors Plan. | ||||||||||||||||
Earnings per common share have been computed based on the following: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30 | September 30 | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Average number of common shares outstanding for basic calculation | 7,698,066 | 7,600,443 | 7,689,350 | 7,595,806 | ||||||||||||
Average potential effect of shares in the Directors Plan (1) | 170,420 | 206,233 | 168,020 | 203,250 | ||||||||||||
Average number of common shares outstanding used to calculate diluted earnings per common share | 7,868,486 | 7,806,676 | 7,857,370 | 7,799,056 | ||||||||||||
Net income | $ | 3,286 | $ | 3,457 | $ | 9,586 | $ | 9,695 | ||||||||
Earnings per share | ||||||||||||||||
Basic | $ | 0.43 | $ | 0.45 | $ | 1.25 | $ | 1.28 | ||||||||
Diluted | $ | 0.42 | $ | 0.44 | $ | 1.22 | $ | 1.24 | ||||||||
(1) | Exclusive of shares held in the Rabbi Trust |
Recently_Adopted_Accounting_St
Recently Adopted Accounting Standards Update | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Changes and Error Corrections [Abstract] | ' |
RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATE | ' |
Note 3 – Recently Adopted Accounting Standards Update | |
ASU No. 2013-02: “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” | |
In February 2013, ASU No. 2013-02 amended ASC Topic 220, “Comprehensive Income” to require disclosures related to reclassifications out of AOCI in one place. The ASU also requires the disclosure of reclassifications out of AOCI by component. The new authoritative guidance was effective for interim and annual periods beginning after December 15, 2012 and did not have a financial impact on the Corporation, but increased the level of disclosures related to AOCI (see "Note 13 – Accumulated Other Comprehensive Income (Loss)"). |
Trading_Securities
Trading Securities | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||
TRADING SECURITIES | ' | |||||||
Note 4 – Trading Securities | ||||||||
Trading securities, at fair value, consist of the following investments at: | ||||||||
September 30 | December 31 | |||||||
2013 | 2012 | |||||||
States and political subdivisions | $ | 745 | $ | 1,573 | ||||
Included in other noninterest income were net trading losses of $23 during the first nine months of 2013 were $4 of net unrealized trading losses on securities that were held in our trading portfolio as of September 30, 2013. Included in net trading losses of $41 during the first nine months of 2012 were $13 of net unrealized trading losses on securities that were held in our trading portfolio as of September 30, 2012. |
AvailableforSale_Securities
Available-for-Sale Securities | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
AVAILABLE-FOR-SALE SECURITIES | ' | |||||||||||||||||||||||
Note 5 – AFS Securities | ||||||||||||||||||||||||
The amortized cost and fair value of AFS securities, with gross unrealized gains and losses, are as follows at: | ||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
Government sponsored enterprises | $ | 24,985 | $ | 7 | $ | 837 | $ | 24,155 | ||||||||||||||||
States and political subdivisions | 189,998 | 6,233 | 2,445 | 193,786 | ||||||||||||||||||||
Auction rate money market preferred | 3,200 | — | 561 | 2,639 | ||||||||||||||||||||
Preferred stocks | 6,800 | 2 | 658 | 6,144 | ||||||||||||||||||||
Mortgage-backed securities | 147,875 | 1,239 | 2,721 | 146,393 | ||||||||||||||||||||
Collateralized mortgage obligations | 128,073 | 1,331 | 1,464 | 127,940 | ||||||||||||||||||||
Total | $ | 500,931 | $ | 8,812 | $ | 8,686 | $ | 501,057 | ||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
Government sponsored enterprises | $ | 25,668 | $ | 108 | $ | — | $ | 25,776 | ||||||||||||||||
States and political subdivisions | 174,118 | 9,190 | 565 | 182,743 | ||||||||||||||||||||
Auction rate money market preferred | 3,200 | — | 422 | 2,778 | ||||||||||||||||||||
Preferred stocks | 6,800 | — | 437 | 6,363 | ||||||||||||||||||||
Mortgage-backed securities | 152,256 | 3,199 | 110 | 155,345 | ||||||||||||||||||||
Collateralized mortgage obligations | 128,378 | 2,627 | — | 131,005 | ||||||||||||||||||||
Total | $ | 490,420 | $ | 15,124 | $ | 1,534 | $ | 504,010 | ||||||||||||||||
The amortized cost and fair value of AFS securities by contractual maturity at September 30, 2013 are as follows: | ||||||||||||||||||||||||
Maturing | Securities with Variable Monthly Payments or Noncontractual Maturities | |||||||||||||||||||||||
Due in | After One | After Five | After | Total | ||||||||||||||||||||
One Year | Year But | Years But | Ten Years | |||||||||||||||||||||
or Less | Within | Within | ||||||||||||||||||||||
Five Years | Ten Years | |||||||||||||||||||||||
Government sponsored enterprises | $ | — | $ | 72 | $ | 24,913 | $ | — | $ | — | $ | 24,985 | ||||||||||||
States and political subdivisions | 5,068 | 35,993 | 93,353 | 55,584 | — | 189,998 | ||||||||||||||||||
Auction rate money market preferred | — | — | — | — | 3,200 | 3,200 | ||||||||||||||||||
Preferred stocks | — | — | — | — | 6,800 | 6,800 | ||||||||||||||||||
Mortgage-backed securities | — | — | — | — | 147,875 | 147,875 | ||||||||||||||||||
Collateralized mortgage obligations | — | — | — | — | 128,073 | 128,073 | ||||||||||||||||||
Total amortized cost | $ | 5,068 | $ | 36,065 | $ | 118,266 | $ | 55,584 | $ | 285,948 | $ | 500,931 | ||||||||||||
Fair value | $ | 5,237 | $ | 37,363 | $ | 120,324 | $ | 55,017 | $ | 283,116 | $ | 501,057 | ||||||||||||
Expected maturities for government sponsored enterprises and states and political subdivisions may differ from contractual maturities because issuers may have the right to call or prepay obligations. | ||||||||||||||||||||||||
As auction rate money market preferred and preferred stocks have continual call dates, they are not reported by a specific maturity group. Because of their variable monthly payments, mortgage-backed securities and collateralized mortgage obligations are not reported by a specific maturity group. | ||||||||||||||||||||||||
A summary of the activity related to sales of AFS securities was as follows for the three and nine month periods ended: | ||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
September 30 | September 30 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Proceeds from sales of AFS securities | $ | 6,372 | $ | 16,436 | $ | 16,229 | $ | 40,677 | ||||||||||||||||
Gross realized gains (losses) | $ | 72 | $ | 116 | $ | 171 | $ | 1,119 | ||||||||||||||||
Applicable income tax expense (benefit) | $ | 24 | $ | 39 | $ | 58 | $ | 380 | ||||||||||||||||
The cost basis used to determine the realized gains or losses of AFS securities sold was the amortized cost of the individual investment security as of the trade date. | ||||||||||||||||||||||||
Information pertaining to AFS securities with gross unrealized losses at September 30, 2013 and December 31, 2012 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: | ||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||
Less Than Twelve Months | Twelve Months or More | |||||||||||||||||||||||
Gross | Fair | Gross | Fair | Total | ||||||||||||||||||||
Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||
Government sponsored enterprises | $ | 837 | $ | 23,157 | $ | — | $ | — | $ | 837 | ||||||||||||||
States and political subdivisions | 1,952 | 39,713 | 493 | 2,069 | 2,445 | |||||||||||||||||||
Auction rate money market preferred | — | — | 561 | 2,639 | 561 | |||||||||||||||||||
Preferred stocks | — | — | 658 | 3,141 | 658 | |||||||||||||||||||
Mortgage-backed securities | 2,721 | 77,269 | — | — | 2,721 | |||||||||||||||||||
Collateralized mortgage obligations | 1,464 | 56,189 | — | — | 1,464 | |||||||||||||||||||
Total | $ | 6,974 | $ | 196,328 | $ | 1,712 | $ | 7,849 | $ | 8,686 | ||||||||||||||
Number of securities in an unrealized loss position: | 154 | 6 | 160 | |||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||
Less Than Twelve Months | Twelve Months or More | |||||||||||||||||||||||
Gross | Fair | Gross | Fair | Total | ||||||||||||||||||||
Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||
States and political subdivisions | $ | 80 | $ | 5,019 | $ | 485 | $ | 2,352 | $ | 565 | ||||||||||||||
Auction rate money market preferred | — | — | 422 | 2,778 | 422 | |||||||||||||||||||
Preferred stocks | — | — | 437 | 3,363 | 437 | |||||||||||||||||||
Mortgage-backed securities | 110 | 25,499 | — | — | 110 | |||||||||||||||||||
Total | $ | 190 | $ | 30,518 | $ | 1,344 | $ | 8,493 | $ | 1,534 | ||||||||||||||
Number of securities in an unrealized loss position: | 15 | 6 | 21 | |||||||||||||||||||||
As of September 30, 2013 and December 31, 2012, we conducted an analysis to determine whether any securities currently in an unrealized loss position should be other-than-temporarily impaired. Such analyses considered, among other factors, the following criteria: | ||||||||||||||||||||||||
• | Has the value of the investment declined more than what is deemed to be reasonable based on a risk and maturity adjusted discount rate? | |||||||||||||||||||||||
• | Is the investment credit rating below investment grade? | |||||||||||||||||||||||
• | Is it probable the issuer will be unable to pay the amount when due? | |||||||||||||||||||||||
• | Is it more likely than not that we will have to sell the security before recovery of its cost basis? | |||||||||||||||||||||||
• | Has the duration of the investment been extended? | |||||||||||||||||||||||
During the three month period ended March 31, 2012, we had one state issued student loan auction rate AFS investment security (which is included in states and political subdivisions) that was downgraded by Moody’s from A3 to Caa3. As a result of this downgrade, we engaged the services of an independent investment valuation firm to estimate the amount of credit losses (if any) related to this particular issue as of March 31, 2012. The evaluation calculated a range of estimated credit losses utilizing two different bifurcation methods: | ||||||||||||||||||||||||
1) Discounted Cash Flow Method. | ||||||||||||||||||||||||
2) Credit Yield Analysis Method. | ||||||||||||||||||||||||
The two methods were then weighted, with a higher weighting applied to the Discounted Cash Flow Method, to determine the estimated credit related impairment. As a result of this analysis we recognized an OTTI of $282 in earnings in the quarter ended March 31, 2012. | ||||||||||||||||||||||||
A summary of key valuation assumptions used in the aforementioned analysis as of March 31, 2012, follows: | ||||||||||||||||||||||||
Discounted Cash Flow Method | ||||||||||||||||||||||||
Ratings | ||||||||||||||||||||||||
Fitch | Not Rated | |||||||||||||||||||||||
Moody’s | Caa3 | |||||||||||||||||||||||
S&P | A | |||||||||||||||||||||||
Seniority | Senior | |||||||||||||||||||||||
Discount rate | LIBOR + 6.35% | |||||||||||||||||||||||
Credit Yield Analysis Method | ||||||||||||||||||||||||
Credit discount rate | LIBOR + 4.00% | |||||||||||||||||||||||
Average observed discounts based on closed transactions | 14.00% | |||||||||||||||||||||||
To test for additional impairment of this security during the three and nine months ended September 30, 2013, we obtained another investment valuation (from the same firm engaged to perform the initial valuation as of March 31, 2012) as of September 30, 2013. Based on our analysis, no additional OTTI was indicated as of September 30, 2013. | ||||||||||||||||||||||||
The following table provides a roll-forward of credit related impairment recognized in earnings for the: | ||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Balance at beginning of period | $ | 282 | $ | 282 | $ | 282 | $ | — | ||||||||||||||||
Additions to credit losses for which no previous OTTI was recognized | — | — | — | 282 | ||||||||||||||||||||
Balance at end of period | $ | 282 | $ | 282 | $ | 282 | $ | 282 | ||||||||||||||||
Based on our analysis using the above criteria, the fact that we have asserted that we do not have the intent to sell AFS securities in an unrealized loss position, and considering it is unlikely that we will have to sell AFS securities in an unrealized loss position before recovery of their cost basis, we do not believe that the values of any other AFS securities are other-than-temporarily impaired as of September 30, 2013, or December 31, 2012. |
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 9 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||
LOANS AND ALLOWANCE FOR LOAN LOSSES | ' | |||||||||||||||||||||||||||||
Note 6 – Loans and ALLL | ||||||||||||||||||||||||||||||
We grant commercial, agricultural, residential real estate, and consumer loans to customers situated primarily in Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw counties in Michigan. The ability of the borrowers to honor their repayment obligations is often dependent upon the real estate, agricultural, light manufacturing, retail, gaming, tourism, higher education, and general economic conditions of this region. Substantially all of our consumer and residential real estate loans are secured by various items of property, while commercial loans are secured primarily by real estate, business assets, and personal guarantees; a portion of loans are unsecured. | ||||||||||||||||||||||||||||||
Loans that we have the intent and ability to hold in our portfolio are reported at their outstanding principal balance adjusted for any charge-offs, the ALLL, and any deferred fees or costs. Interest income on loans is accrued over the term of the loan based on the principal amount outstanding. Loan origination fees and certain direct loan origination costs are capitalized and recognized as a component of interest income over the term of the loan using the level yield method. | ||||||||||||||||||||||||||||||
The accrual of interest on commercial, agricultural, and residential real estate loans is typically discontinued at the time the loan is 90 days or more past due unless the credit is well-secured and in the process of collection. Consumer loans are typically charged-off no later than 180 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. | ||||||||||||||||||||||||||||||
For loans that are placed on nonaccrual status or charged-off, all interest accrued in the current calendar year, but not collected, is reversed against interest income while interest accrued in prior calendar years, but not collected, is charged against the ALLL. Loans are typically returned to accrual status after six months of continuous performance. For impaired loans not classified as nonaccrual, interest income continues to be accrued over the term of the loan based on the principal amount outstanding. | ||||||||||||||||||||||||||||||
Commercial and agricultural loans include loans for commercial real estate, commercial operating loans, farmland and agricultural production, and states and political subdivisions. Repayment of these loans is often dependent upon the successful operation and management of a business. We minimize our risk by limiting the amount of credit exposure to any one borrower to $12,500. Borrowers with credit needs of more than $12,500 are serviced through the use of loan participations with other commercial banks. Commercial and agricultural real estate loans generally require loan-to-value limits of less than 80%. Depending upon the type of loan, past credit history, and current operating results, we may require the borrower to pledge accounts receivable, inventory, and property and equipment. Personal guarantees are generally required from the owners of closely held corporations, partnerships, and sole proprietorships. In addition, we require annual financial statements, prepare cash flow analyses, and review credit reports as deemed necessary. | ||||||||||||||||||||||||||||||
We offer adjustable rate mortgages, fixed rate balloon mortgages, construction loans, and fixed rate mortgage loans which typically have amortization periods up to a maximum of 30 years. Fixed rate loans with an amortization of greater than 15 years are generally sold upon origination to Freddie Mac. Fixed rate residential real estate loans with an amortization of 15 years or less may be held in our portfolio, held for future sale, or sold upon origination. We consider the direction of interest rates, the sensitivity of our balance sheet to changes in interest rates, and overall loan demand to determine whether or not to sell these loans to Freddie Mac. | ||||||||||||||||||||||||||||||
Our lending policies generally limit the maximum loan-to-value ratio on residential real estate loans to 95% of the lower of the appraised value of the property or the purchase price, with the condition that private mortgage insurance is required on loans with loan-to-value ratios in excess of 80%. Substantially all loans upon origination have a loan to value ratio of less than 80%. Underwriting criteria for residential real estate loans include: evaluation of the borrower’s ability to make monthly payments, the value of the property securing the loan, ensuring the payment of principal, interest, taxes, and hazard insurance does not exceed 28% of a borrower’s gross income, all debt servicing does not exceed 36% of income, acceptable credit reports, verification of employment, income, and financial information. Appraisals are performed by independent appraisers and reviewed internally. All mortgage loan requests are reviewed by our mortgage loan committee or through a secondary market automated underwriting system; loans in excess of $400 require the approval of our Internal Loan Committee, the Board of Directors’ Loan Committee, or the Board of Directors. | ||||||||||||||||||||||||||||||
Consumer loans include automobile loans, secured and unsecured personal loans, and overdraft protection related loans. Loans are amortized generally for a period of up to 6 years. The underwriting emphasis is on a borrower’s perceived intent and ability to pay rather than collateral value. No consumer loans are sold to the secondary market. | ||||||||||||||||||||||||||||||
The ALLL is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the ALLL when we believe the uncollectability of the loan balance is confirmed. Subsequent recoveries, if any, are credited to the ALLL. | ||||||||||||||||||||||||||||||
The ALLL is evaluated on a regular basis and is based upon a periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. | ||||||||||||||||||||||||||||||
The primary factors behind the determination of the level of the ALLL are specific allocations for impaired loans, historical loss percentages, as well as unallocated components. Specific allocations for impaired loans are primarily determined based on the difference between the net realizable value of the loan’s underlying collateral or the net present value of the projected payment stream and our recorded investment. Historical loss allocations were calculated at the loan class and segment levels based on a migration analysis of the loan portfolio over the preceding five years. An unallocated component is maintained to cover uncertainties that we believe affect our estimate of probable losses based on qualitative factors. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. | ||||||||||||||||||||||||||||||
A summary of changes in the ALLL and the recorded investment in loans by segments follows: | ||||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
July 1, 2013 | $ | 6,472 | $ | 335 | $ | 3,676 | $ | 647 | $ | 570 | $ | 11,700 | ||||||||||||||||||
Loans charged-off | (394 | ) | (12 | ) | (94 | ) | (102 | ) | — | (602 | ) | |||||||||||||||||||
Recoveries | 66 | — | 38 | 47 | — | 151 | ||||||||||||||||||||||||
Provision for loan losses | 69 | 108 | 127 | 74 | (27 | ) | 351 | |||||||||||||||||||||||
September 30, 2013 | $ | 6,213 | $ | 431 | $ | 3,747 | $ | 666 | $ | 543 | $ | 11,600 | ||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
January 1, 2013 | $ | 6,862 | $ | 407 | $ | 3,627 | $ | 666 | $ | 374 | $ | 11,936 | ||||||||||||||||||
Loans charged-off | (839 | ) | (12 | ) | (681 | ) | (311 | ) | — | (1,843 | ) | |||||||||||||||||||
Recoveries | 289 | — | 152 | 200 | — | 641 | ||||||||||||||||||||||||
Provision for loan losses | (99 | ) | 36 | 649 | 111 | 169 | 866 | |||||||||||||||||||||||
September 30, 2013 | $ | 6,213 | $ | 431 | $ | 3,747 | $ | 666 | $ | 543 | $ | 11,600 | ||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
ALLL | ||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,080 | $ | 31 | $ | 1,890 | $ | — | $ | — | $ | 4,001 | ||||||||||||||||||
Collectively evaluated for impairment | 4,133 | 400 | 1,857 | 666 | 543 | 7,599 | ||||||||||||||||||||||||
Total | $ | 6,213 | $ | 431 | $ | 3,747 | $ | 666 | $ | 543 | $ | 11,600 | ||||||||||||||||||
Loans | ||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 12,155 | $ | 787 | $ | 11,514 | $ | 65 | $ | 24,521 | ||||||||||||||||||||
Collectively evaluated for impairment | 376,818 | 92,140 | 280,311 | 34,059 | 783,328 | |||||||||||||||||||||||||
Total | $ | 388,973 | $ | 92,927 | $ | 291,825 | $ | 34,124 | $ | 807,849 | ||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
July 1, 2012 | $ | 6,008 | $ | 433 | $ | 3,669 | $ | 667 | $ | 1,541 | $ | 12,318 | ||||||||||||||||||
Loans charged-off | (271 | ) | — | (213 | ) | (127 | ) | — | (611 | ) | ||||||||||||||||||||
Recoveries | 40 | — | 34 | 81 | — | 155 | ||||||||||||||||||||||||
Provision for loan losses | 1,132 | 6 | (356 | ) | 91 | (673 | ) | 200 | ||||||||||||||||||||||
September 30, 2012 | $ | 6,909 | $ | 439 | $ | 3,134 | $ | 712 | $ | 868 | $ | 12,062 | ||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
January 1, 2012 | $ | 6,284 | $ | 1,003 | $ | 2,980 | $ | 633 | $ | 1,475 | $ | 12,375 | ||||||||||||||||||
Loans charged-off | (957 | ) | — | (566 | ) | (364 | ) | — | (1,887 | ) | ||||||||||||||||||||
Recoveries | 168 | — | 95 | 211 | — | 474 | ||||||||||||||||||||||||
Provision for loan losses | 1,414 | (564 | ) | 625 | 232 | (607 | ) | 1,100 | ||||||||||||||||||||||
September 30, 2012 | $ | 6,909 | $ | 439 | $ | 3,134 | $ | 712 | $ | 868 | $ | 12,062 | ||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans | ||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
ALLL | ||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,050 | $ | 91 | $ | 1,796 | $ | — | $ | — | $ | 3,937 | ||||||||||||||||||
Collectively evaluated for impairment | 4,812 | 316 | 1,831 | 666 | 374 | 7,999 | ||||||||||||||||||||||||
Total | $ | 6,862 | $ | 407 | $ | 3,627 | $ | 666 | $ | 374 | $ | 11,936 | ||||||||||||||||||
Loans | ||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 14,456 | $ | 723 | $ | 10,704 | $ | 75 | $ | 25,958 | ||||||||||||||||||||
Collectively evaluated for impairment | 357,049 | 82,883 | 273,444 | 33,419 | 746,795 | |||||||||||||||||||||||||
Total | $ | 371,505 | $ | 83,606 | $ | 284,148 | $ | 33,494 | $ | 772,753 | ||||||||||||||||||||
The following table displays the credit quality indicators for commercial and agricultural credit exposures based on internally assigned credit ratings as of: | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | |||||||||||||||||||||||||||||
Real Estate | Other | Total | Real Estate | Other | Total | |||||||||||||||||||||||||
Rating | ||||||||||||||||||||||||||||||
2 - High quality | $ | 21,334 | $ | 15,823 | $ | 37,157 | $ | 3,665 | $ | 3,005 | $ | 6,670 | ||||||||||||||||||
3 - High satisfactory | 89,630 | 40,464 | 130,094 | 26,679 | 16,958 | 43,637 | ||||||||||||||||||||||||
4 - Low satisfactory | 141,646 | 45,022 | 186,668 | 25,564 | 11,672 | 37,236 | ||||||||||||||||||||||||
5 - Special mention | 13,246 | 1,256 | 14,502 | 1,917 | 1,027 | 2,944 | ||||||||||||||||||||||||
6 - Substandard | 17,532 | 1,497 | 19,029 | 805 | 1,387 | 2,192 | ||||||||||||||||||||||||
7 - Vulnerable | 1,085 | 186 | 1,271 | — | 248 | 248 | ||||||||||||||||||||||||
8 - Doubtful | 234 | 18 | 252 | — | — | — | ||||||||||||||||||||||||
Total | $ | 284,707 | $ | 104,266 | $ | 388,973 | $ | 58,630 | $ | 34,297 | $ | 92,927 | ||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | |||||||||||||||||||||||||||||
Real Estate | Other | Total | Real Estate | Other | Total | |||||||||||||||||||||||||
Rating | ||||||||||||||||||||||||||||||
2 - High quality | $ | 25,209 | $ | 15,536 | $ | 40,745 | $ | 2,955 | $ | 2,313 | $ | 5,268 | ||||||||||||||||||
3 - High satisfactory | 83,805 | 28,974 | 112,779 | 16,972 | 11,886 | 28,858 | ||||||||||||||||||||||||
4 - Low satisfactory | 127,423 | 45,143 | 172,566 | 27,291 | 15,437 | 42,728 | ||||||||||||||||||||||||
5 - Special mention | 16,046 | 1,692 | 17,738 | 1,008 | 3,191 | 4,199 | ||||||||||||||||||||||||
6 - Substandard | 20,029 | 2,224 | 22,253 | 1,167 | 1,217 | 2,384 | ||||||||||||||||||||||||
7 - Vulnerable | 1,512 | 2,294 | 3,806 | — | — | — | ||||||||||||||||||||||||
8 - Doubtful | 1,596 | 22 | 1,618 | — | 169 | 169 | ||||||||||||||||||||||||
Total | $ | 275,620 | $ | 95,885 | $ | 371,505 | $ | 49,393 | $ | 34,213 | $ | 83,606 | ||||||||||||||||||
Internally assigned risk ratings are reviewed, at a minimum, when loans are renewed or when management has knowledge of improvements or deterioration of the credit quality of individual credits. Descriptions of the internally assigned risk ratings for commercial and agricultural loans are as follows: | ||||||||||||||||||||||||||||||
1. EXCELLENT – Substantially Risk Free | ||||||||||||||||||||||||||||||
Credit has strong financial condition and solid earnings history, characterized by: | ||||||||||||||||||||||||||||||
• | High liquidity, strong cash flow, low leverage. | |||||||||||||||||||||||||||||
• | Unquestioned ability to meet all obligations when due. | |||||||||||||||||||||||||||||
• | Experienced management, with management succession in place. | |||||||||||||||||||||||||||||
• | Secured by cash. | |||||||||||||||||||||||||||||
2. HIGH QUALITY – Limited Risk | ||||||||||||||||||||||||||||||
Credit with sound financial condition and has a positive trend in earnings supplemented by: | ||||||||||||||||||||||||||||||
• | Favorable liquidity and leverage ratios. | |||||||||||||||||||||||||||||
• | Ability to meet all obligations when due. | |||||||||||||||||||||||||||||
• | Management with successful track record. | |||||||||||||||||||||||||||||
• | Steady and satisfactory earnings history. | |||||||||||||||||||||||||||||
• | If loan is secured, collateral is of high quality and readily marketable. | |||||||||||||||||||||||||||||
• | Access to alternative financing. | |||||||||||||||||||||||||||||
• | Well defined primary and secondary source of repayment. | |||||||||||||||||||||||||||||
• | If supported by guaranty, the financial strength and liquidity of the guarantor(s) are clearly evident. | |||||||||||||||||||||||||||||
3. HIGH SATISFACTORY – Reasonable Risk | ||||||||||||||||||||||||||||||
Credit with satisfactory financial condition and further characterized by: | ||||||||||||||||||||||||||||||
• | Working capital adequate to support operations. | |||||||||||||||||||||||||||||
• | Cash flow sufficient to pay debts as scheduled. | |||||||||||||||||||||||||||||
• | Management experience and depth appear favorable. | |||||||||||||||||||||||||||||
• | Loan performing according to terms. | |||||||||||||||||||||||||||||
• | If loan is secured, collateral is acceptable and loan is fully protected. | |||||||||||||||||||||||||||||
4. LOW SATISFACTORY – Acceptable Risk | ||||||||||||||||||||||||||||||
Credit with bankable risks, although some signs of weaknesses are shown: | ||||||||||||||||||||||||||||||
• | Would include most start-up businesses. | |||||||||||||||||||||||||||||
• | Occasional instances of trade slowness or repayment delinquency – may have been 10-30 days slow within the past year. | |||||||||||||||||||||||||||||
• | Management’s abilities are apparent, yet unproven. | |||||||||||||||||||||||||||||
• | Weakness in primary source of repayment with adequate secondary source of repayment. | |||||||||||||||||||||||||||||
• | Loan structure generally in accordance with policy. | |||||||||||||||||||||||||||||
• | If secured, loan collateral coverage is marginal. | |||||||||||||||||||||||||||||
• | Adequate cash flow to service debt, but coverage is low. | |||||||||||||||||||||||||||||
To be classified as less than satisfactory, only one of the following criteria must be met. | ||||||||||||||||||||||||||||||
5. SPECIAL MENTION – Criticized | ||||||||||||||||||||||||||||||
Credit constitutes an undue and unwarranted credit risk but not to the point of justifying a classification of substandard. The credit risk may be relatively minor yet constitute an unwarranted risk in light of the circumstances surrounding a specific loan: | ||||||||||||||||||||||||||||||
• | Downward trend in sales, profit levels, and margins. | |||||||||||||||||||||||||||||
• | Impaired working capital position. | |||||||||||||||||||||||||||||
• | Cash flow is strained in order to meet debt repayment. | |||||||||||||||||||||||||||||
• | Loan delinquency (30-60 days) and overdrafts may occur. | |||||||||||||||||||||||||||||
• | Shrinking equity cushion. | |||||||||||||||||||||||||||||
• | Diminishing primary source of repayment and questionable secondary source. | |||||||||||||||||||||||||||||
• | Management abilities are questionable. | |||||||||||||||||||||||||||||
• | Weak industry conditions. | |||||||||||||||||||||||||||||
• | Litigation pending against the borrower. | |||||||||||||||||||||||||||||
• | Collateral or guaranty offers limited protection. | |||||||||||||||||||||||||||||
• | Negative debt service coverage, however the credit is well collateralized and payments are current. | |||||||||||||||||||||||||||||
6. SUBSTANDARD – Classified | ||||||||||||||||||||||||||||||
Credit where the borrower’s current net worth, paying capacity, and value of the collateral pledged is inadequate. There is a distinct possibility that we will implement collection procedures if the loan deficiencies are not corrected. In addition, the following characteristics may apply: | ||||||||||||||||||||||||||||||
• | Sustained losses have severely eroded the equity and cash flow. | |||||||||||||||||||||||||||||
• | Deteriorating liquidity. | |||||||||||||||||||||||||||||
• | Serious management problems or internal fraud. | |||||||||||||||||||||||||||||
• | Original repayment terms liberalized. | |||||||||||||||||||||||||||||
• | Likelihood of bankruptcy. | |||||||||||||||||||||||||||||
• | Inability to access other funding sources. | |||||||||||||||||||||||||||||
• | Reliance on secondary source of repayment. | |||||||||||||||||||||||||||||
• | Litigation filed against borrower. | |||||||||||||||||||||||||||||
• | Collateral provides little or no value. | |||||||||||||||||||||||||||||
• | Requires excessive attention of the loan officer. | |||||||||||||||||||||||||||||
• | Borrower is uncooperative with loan officer. | |||||||||||||||||||||||||||||
7. VULNERABLE – Classified | ||||||||||||||||||||||||||||||
Credit is considered “Substandard” and warrants placing on nonaccrual. Risk of loss is being evaluated and exit strategy options are under review. Other characteristics that may apply: | ||||||||||||||||||||||||||||||
• | Insufficient cash flow to service debt. | |||||||||||||||||||||||||||||
• | Minimal or no payments being received. | |||||||||||||||||||||||||||||
• | Limited options available to avoid the collection process. | |||||||||||||||||||||||||||||
• | Transition status, expect action will take place to collect loan without immediate progress being made. | |||||||||||||||||||||||||||||
8. DOUBTFUL – Workout | ||||||||||||||||||||||||||||||
Credit has all the weaknesses inherent in a “Substandard” loan with the added characteristic that collection and/or liquidation is pending. The possibility of a loss is extremely high, but its classification as a loss is deferred until liquidation procedures are completed, or reasonably estimable. Other characteristics that may apply: | ||||||||||||||||||||||||||||||
• | Normal operations are severely diminished or have ceased. | |||||||||||||||||||||||||||||
• | Seriously impaired cash flow. | |||||||||||||||||||||||||||||
• | Original repayment terms materially altered. | |||||||||||||||||||||||||||||
• | Secondary source of repayment is inadequate. | |||||||||||||||||||||||||||||
• | Survivability as a “going concern” is impossible. | |||||||||||||||||||||||||||||
• | Collection process has begun. | |||||||||||||||||||||||||||||
• | Bankruptcy petition has been filed. | |||||||||||||||||||||||||||||
• | Judgments have been filed. | |||||||||||||||||||||||||||||
• | Portion of the loan balance has been charged-off. | |||||||||||||||||||||||||||||
Our primary credit quality indicator for residential real estate and consumer loans is the individual loan’s past due aging. The following tables summarize the past due and current loans as of: | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Accruing Interest | Total Past Due and Nonaccrual | |||||||||||||||||||||||||||||
and Past Due: | ||||||||||||||||||||||||||||||
30-59 | 60-89 | 90 Days | Nonaccrual | Current | Total | |||||||||||||||||||||||||
Days | Days | or More | ||||||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 343 | $ | 889 | $ | 167 | $ | 1,266 | $ | 2,665 | $ | 282,042 | $ | 284,707 | ||||||||||||||||
Commercial other | 867 | 32 | — | 239 | 1,138 | 103,128 | 104,266 | |||||||||||||||||||||||
Total commercial | 1,210 | 921 | 167 | 1,505 | 3,803 | 385,170 | 388,973 | |||||||||||||||||||||||
Agricultural | ||||||||||||||||||||||||||||||
Agricultural real estate | 642 | — | — | — | 642 | 57,988 | 58,630 | |||||||||||||||||||||||
Agricultural other | 214 | 450 | — | 262 | 926 | 33,371 | 34,297 | |||||||||||||||||||||||
Total agricultural | 856 | 450 | — | 262 | 1,568 | 91,359 | 92,927 | |||||||||||||||||||||||
Residential real estate | ||||||||||||||||||||||||||||||
Senior liens | 2,549 | 898 | 290 | 1,957 | 5,694 | 232,710 | 238,404 | |||||||||||||||||||||||
Junior liens | 166 | — | — | 68 | 234 | 13,649 | 13,883 | |||||||||||||||||||||||
Home equity lines of credit | 347 | 64 | — | — | 411 | 39,127 | 39,538 | |||||||||||||||||||||||
Total residential real estate | 3,062 | 962 | 290 | 2,025 | 6,339 | 285,486 | 291,825 | |||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||
Secured | 115 | 1 | — | — | 116 | 29,190 | 29,306 | |||||||||||||||||||||||
Unsecured | 6 | 10 | — | 20 | 36 | 4,782 | 4,818 | |||||||||||||||||||||||
Total consumer | 121 | 11 | — | 20 | 152 | 33,972 | 34,124 | |||||||||||||||||||||||
Total | $ | 5,249 | $ | 2,344 | $ | 457 | $ | 3,812 | $ | 11,862 | $ | 795,987 | $ | 807,849 | ||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Accruing Interest | Total Past Due and Nonaccrual | |||||||||||||||||||||||||||||
and Past Due: | ||||||||||||||||||||||||||||||
30-59 | 60-89 | 90 Days | Nonaccrual | Current | Total | |||||||||||||||||||||||||
Days | Days | or More | ||||||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,304 | $ | 161 | $ | 63 | $ | 2,544 | $ | 4,072 | $ | 271,548 | $ | 275,620 | ||||||||||||||||
Commercial other | 606 | — | 40 | 2,294 | 2,940 | 92,945 | 95,885 | |||||||||||||||||||||||
Total commercial | 1,910 | 161 | 103 | 4,838 | 7,012 | 364,493 | 371,505 | |||||||||||||||||||||||
Agricultural | ||||||||||||||||||||||||||||||
Agricultural real estate | — | — | — | — | — | 49,393 | 49,393 | |||||||||||||||||||||||
Agricultural other | 90 | — | — | 169 | 259 | 33,954 | 34,213 | |||||||||||||||||||||||
Total agricultural | 90 | — | — | 169 | 259 | 83,347 | 83,606 | |||||||||||||||||||||||
Residential real estate | ||||||||||||||||||||||||||||||
Senior liens | 2,000 | 346 | 320 | 2,064 | 4,730 | 223,532 | 228,262 | |||||||||||||||||||||||
Junior liens | 232 | — | — | 50 | 282 | 16,207 | 16,489 | |||||||||||||||||||||||
Home equity lines of credit | 237 | — | — | 182 | 419 | 38,978 | 39,397 | |||||||||||||||||||||||
Total residential real estate | 2,469 | 346 | 320 | 2,296 | 5,431 | 278,717 | 284,148 | |||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||
Secured | 127 | 33 | 4 | — | 164 | 28,118 | 28,282 | |||||||||||||||||||||||
Unsecured | 31 | 3 | 1 | — | 35 | 5,177 | 5,212 | |||||||||||||||||||||||
Total consumer | 158 | 36 | 5 | — | 199 | 33,295 | 33,494 | |||||||||||||||||||||||
Total | $ | 4,627 | $ | 543 | $ | 428 | $ | 7,303 | $ | 12,901 | $ | 759,852 | $ | 772,753 | ||||||||||||||||
Impaired Loans | ||||||||||||||||||||||||||||||
Loans may be classified as impaired if they meet one or more of the following criteria: | ||||||||||||||||||||||||||||||
1 | There has been a charge-off of its principal balance (in whole or in part), | |||||||||||||||||||||||||||||
2 | The loan has been classified as a TDR, or | |||||||||||||||||||||||||||||
3 | The loan is in nonaccrual status. | |||||||||||||||||||||||||||||
Impairment is measured on a loan-by-loan basis for commercial and agricultural loans by comparing the loan’s outstanding balance to the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral, less cost to sell, if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Impairment is measured on a loan-by-loan basis for residential real estate and consumer loans by comparing the loan’s outstanding balance to the present value of expected future cash flows discounted at the loan’s effective interest rate. | ||||||||||||||||||||||||||||||
We do not recognize interest income on impaired loans in nonaccrual status. For impaired loans not in nonaccrual status, interest income is recognized daily, as earned, according to the terms of the loan agreement. The following is a summary of information pertaining to impaired loans as of, and for the periods ended: | ||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||
Outstanding Balance | Unpaid Principal Balance | Valuation Allowance | Outstanding Balance | Unpaid Principal Balance | Valuation Allowance | |||||||||||||||||||||||||
Impaired loans with a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 6,023 | $ | 6,161 | $ | 1,818 | $ | 7,295 | $ | 7,536 | $ | 1,653 | ||||||||||||||||||
Commercial other | 658 | 658 | 262 | 2,140 | 2,140 | 397 | ||||||||||||||||||||||||
Agricultural real estate | 90 | 90 | 31 | 91 | 91 | 32 | ||||||||||||||||||||||||
Agricultural other | — | — | — | 420 | 420 | 59 | ||||||||||||||||||||||||
Residential real estate senior liens | 11,254 | 12,525 | 1,873 | 10,450 | 11,672 | 1,783 | ||||||||||||||||||||||||
Residential real estate junior liens | 88 | 135 | 17 | 72 | 118 | 13 | ||||||||||||||||||||||||
Total impaired loans with a valuation allowance | $ | 18,113 | $ | 19,569 | $ | 4,001 | $ | 20,468 | $ | 21,977 | $ | 3,937 | ||||||||||||||||||
Impaired loans without a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 4,656 | $ | 5,494 | $ | 3,749 | $ | 4,408 | ||||||||||||||||||||||
Commercial other | 818 | 928 | 1,272 | 1,433 | ||||||||||||||||||||||||||
Agricultural real estate | 329 | 329 | — | — | ||||||||||||||||||||||||||
Agricultural other | 368 | 488 | 212 | 332 | ||||||||||||||||||||||||||
Home equity lines of credit | 172 | 472 | 182 | 482 | ||||||||||||||||||||||||||
Consumer secured | 65 | 72 | 75 | 84 | ||||||||||||||||||||||||||
Total impaired loans without a valuation allowance | $ | 6,408 | $ | 7,783 | $ | 5,490 | $ | 6,739 | ||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||
Commercial | $ | 12,155 | $ | 13,241 | $ | 2,080 | $ | 14,456 | $ | 15,517 | $ | 2,050 | ||||||||||||||||||
Agricultural | 787 | 907 | 31 | 723 | 843 | 91 | ||||||||||||||||||||||||
Residential real estate | 11,514 | 13,132 | 1,890 | 10,704 | 12,272 | 1,796 | ||||||||||||||||||||||||
Consumer | 65 | 72 | — | 75 | 84 | — | ||||||||||||||||||||||||
Total impaired loans | $ | 24,521 | $ | 27,352 | $ | 4,001 | $ | 25,958 | $ | 28,716 | $ | 3,937 | ||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | |||||||||||||||||||||||||||||
Average Outstanding Balance | Interest Income Recognized | Average Outstanding Balance | Interest Income Recognized | |||||||||||||||||||||||||||
Impaired loans with a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 6,471 | $ | 157 | $ | 7,546 | $ | 378 | ||||||||||||||||||||||
Commercial other | 1,063 | 29 | 976 | 67 | ||||||||||||||||||||||||||
Agricultural real estate | 91 | 2 | 91 | 4 | ||||||||||||||||||||||||||
Agricultural other | — | — | 70 | — | ||||||||||||||||||||||||||
Residential real estate senior liens | 10,865 | 230 | 10,595 | 439 | ||||||||||||||||||||||||||
Residential real estate junior liens | 80 | 4 | 84 | 5 | ||||||||||||||||||||||||||
Total impaired loans with a valuation allowance | $ | 18,570 | $ | 422 | $ | 19,362 | $ | 893 | ||||||||||||||||||||||
Impaired loans without a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 4,531 | $ | 169 | $ | 4,037 | $ | 327 | ||||||||||||||||||||||
Commercial other | 833 | 29 | 1,029 | 88 | ||||||||||||||||||||||||||
Agricultural real estate | 231 | 15 | 144 | 19 | ||||||||||||||||||||||||||
Agricultural other | 361 | 2 | 402 | (2 | ) | |||||||||||||||||||||||||
Home equity lines of credit | 173 | 8 | 178 | 17 | ||||||||||||||||||||||||||
Consumer secured | 60 | 1 | 66 | 3 | ||||||||||||||||||||||||||
Total impaired loans without a valuation allowance | $ | 6,189 | $ | 224 | $ | 5,856 | $ | 452 | ||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||
Commercial | $ | 12,898 | $ | 384 | $ | 13,588 | $ | 860 | ||||||||||||||||||||||
Agricultural | 683 | 19 | 707 | 21 | ||||||||||||||||||||||||||
Residential real estate | 11,118 | 242 | 10,857 | 461 | ||||||||||||||||||||||||||
Consumer | 60 | 1 | 66 | 3 | ||||||||||||||||||||||||||
Total impaired loans | $ | 24,759 | $ | 646 | $ | 25,218 | $ | 1,345 | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||
September 30, 2012 | September 30, 2012 | |||||||||||||||||||||||||||||
Average Outstanding Balance | Interest Income Recognized | Average Outstanding Balance | Interest Income Recognized | |||||||||||||||||||||||||||
Impaired loans with a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 6,260 | $ | 106 | $ | 6,197 | $ | 287 | ||||||||||||||||||||||
Commercial other | 1,996 | 67 | 1,183 | 95 | ||||||||||||||||||||||||||
Agricultural real estate | — | — | — | — | ||||||||||||||||||||||||||
Agricultural other | 1,023 | — | 1,878 | 73 | ||||||||||||||||||||||||||
Residential real estate senior liens | 7,994 | 88 | 7,803 | 263 | ||||||||||||||||||||||||||
Residential real estate junior liens | 158 | 3 | 174 | 7 | ||||||||||||||||||||||||||
Total impaired loans with a valuation allowance | $ | 17,431 | $ | 264 | $ | 17,235 | $ | 725 | ||||||||||||||||||||||
Impaired loans without a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 5,651 | $ | 72 | $ | 6,749 | $ | 251 | ||||||||||||||||||||||
Commercial other | 2,026 | 15 | 1,860 | 80 | ||||||||||||||||||||||||||
Agricultural real estate | 179 | — | 214 | — | ||||||||||||||||||||||||||
Agricultural other | 1,417 | 34 | 869 | 41 | ||||||||||||||||||||||||||
Home equity lines of credit | 188 | 6 | 194 | 14 | ||||||||||||||||||||||||||
Consumer secured | 81 | 2 | 90 | 5 | ||||||||||||||||||||||||||
Total impaired loans without a valuation allowance | $ | 9,542 | $ | 129 | $ | 9,976 | $ | 391 | ||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||
Commercial | $ | 15,933 | $ | 260 | $ | 15,989 | $ | 713 | ||||||||||||||||||||||
Agricultural | 2,619 | 34 | 2,961 | 114 | ||||||||||||||||||||||||||
Residential real estate | 8,340 | 97 | 8,171 | 284 | ||||||||||||||||||||||||||
Consumer | 81 | 2 | 90 | 5 | ||||||||||||||||||||||||||
Total impaired loans | $ | 26,973 | $ | 393 | $ | 27,211 | $ | 1,116 | ||||||||||||||||||||||
As of September 30, 2013 and December 31, 2012, we had committed to advance $88 and $9, respectively, in connection with impaired loans, which include TDRs. | ||||||||||||||||||||||||||||||
Troubled Debt Restructurings | ||||||||||||||||||||||||||||||
Loan modifications are considered to be TDRs when the modification includes terms outside of normal lending practices to a borrower who is experiencing financial difficulties. | ||||||||||||||||||||||||||||||
Typical concessions granted include, but are not limited to: | ||||||||||||||||||||||||||||||
1 | Agreeing to interest rates below prevailing market rates for debt with similar risk characteristics. | |||||||||||||||||||||||||||||
2 | Extending the amortization period beyond typical lending guidelines for debt with similar risk characteristics. | |||||||||||||||||||||||||||||
3 | Forbearance of principal. | |||||||||||||||||||||||||||||
4 | Forbearance of accrued interest. | |||||||||||||||||||||||||||||
To determine if a borrower is experiencing financial difficulties, we consider if: | ||||||||||||||||||||||||||||||
1 | The borrower is currently in default on any of their debt. | |||||||||||||||||||||||||||||
2 | The borrower would likely default on any of their debt if the concession was not granted. | |||||||||||||||||||||||||||||
3 | The borrower’s cash flow was insufficient to service all of their debt if the concession was not granted. | |||||||||||||||||||||||||||||
4 | The borrower has declared, or is in the process of declaring, bankruptcy. | |||||||||||||||||||||||||||||
5 | The borrower is unlikely to continue as a going concern (if the entity is a business). | |||||||||||||||||||||||||||||
The following is a summary of information pertaining to TDRs granted in the periods ended: | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
Number of Loans | Pre-Modification Recorded Investment | Post-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Post-Modification Recorded Investment | |||||||||||||||||||||||||
Commercial other | 3 | $ | 159 | $ | 159 | 10 | $ | 3,313 | $ | 3,116 | ||||||||||||||||||||
Agricultural other | 1 | 198 | 198 | 2 | 332 | 332 | ||||||||||||||||||||||||
Residential real estate senior liens | 15 | 1,176 | 1,176 | 30 | 2,611 | 2,595 | ||||||||||||||||||||||||
Residential real estate junior liens | 1 | 20 | 20 | 1 | 20 | 20 | ||||||||||||||||||||||||
Consumer unsecured | 2 | 34 | 34 | 2 | 34 | 34 | ||||||||||||||||||||||||
Total | 22 | $ | 1,587 | $ | 1,587 | 45 | $ | 6,310 | $ | 6,097 | ||||||||||||||||||||
Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
Number of Loans | Pre-Modification Recorded Investment | Post-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Post-Modification Recorded Investment | |||||||||||||||||||||||||
Commercial other | 1 | $ | 178 | $ | 178 | 27 | $ | 5,069 | $ | 5,069 | ||||||||||||||||||||
Agricultural other | — | — | — | 6 | 561 | 561 | ||||||||||||||||||||||||
Residential real estate senior liens | — | — | — | 12 | 1,405 | 1,405 | ||||||||||||||||||||||||
Residential real estate junior liens | 1 | 22 | 22 | 1 | 22 | 22 | ||||||||||||||||||||||||
Total | 2 | $ | 200 | $ | 200 | 46 | $ | 7,057 | $ | 7,057 | ||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
Below Market Interest Rate | Below Market Interest Rate and Extension of Amortization Period | Below Market Interest Rate | Below Market Interest Rate and Extension of Amortization Period | |||||||||||||||||||||||||||
Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | |||||||||||||||||||||||
Commercial other | 3 | $ | 159 | — | $ | — | 6 | $ | 1,517 | 4 | $ | 1,796 | ||||||||||||||||||
Agricultural other | 1 | 198 | — | — | 2 | 332 | — | — | ||||||||||||||||||||||
Residential real estate senior liens | 10 | 924 | 5 | 252 | 17 | 1,548 | 13 | 1,063 | ||||||||||||||||||||||
Residential real estate junior liens | — | — | 1 | 20 | — | — | 1 | 20 | ||||||||||||||||||||||
Consumer unsecured | 1 | 16 | 1 | 18 | 1 | 16 | 1 | 18 | ||||||||||||||||||||||
Total | 15 | $ | 1,297 | 7 | $ | 290 | 26 | $ | 3,413 | 19 | $ | 2,897 | ||||||||||||||||||
Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
Below Market Interest Rate | Below Market Interest Rate and Extension of Amortization Period | Below Market Interest Rate | Below Market Interest Rate and Extension of Amortization Period | |||||||||||||||||||||||||||
Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | |||||||||||||||||||||||
Commercial other | 1 | $ | 178 | — | $ | — | 25 | $ | 4,924 | 2 | $ | 145 | ||||||||||||||||||
Agricultural other | — | — | — | — | 6 | 561 | — | — | ||||||||||||||||||||||
Residential real estate senior liens | — | — | — | — | 4 | 324 | 8 | 1,081 | ||||||||||||||||||||||
Residential real estate junior liens | — | — | 1 | 22 | — | — | 1 | 22 | ||||||||||||||||||||||
Total | 1 | $ | 178 | 1 | $ | 22 | 35 | $ | 5,809 | 11 | $ | 1,248 | ||||||||||||||||||
We did not restructure any loans through the forbearance of principal or accrued interest in the three and nine month periods ended September 30, 2013 or 2012. | ||||||||||||||||||||||||||||||
Based on our historical loss experience, losses associated with TDRs are not significantly different than other impaired loans within the same loan segment. As such, TDRs, including TDRs that have been modified in the past 12 months that subsequently defaulted, are analyzed in the same manner as other impaired loans within their respective loan segment. | ||||||||||||||||||||||||||||||
We had no loans that defaulted in the three and nine month periods ended September 30, 2013, which were modified within 12 months prior to the default date. | ||||||||||||||||||||||||||||||
Following is a summary of loans that defaulted in the three and nine month periods ended September 30, 2012, which were modified within 12 months prior to the default date: | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
Number of Loans | Pre- | Charge-Off | Post- | Number of Loans | Pre- | Charge-Off | Post- | |||||||||||||||||||||||
Default | Recorded | Default | Default | Recorded | Default | |||||||||||||||||||||||||
Recorded | Upon | Recorded | Recorded | Upon | Recorded | |||||||||||||||||||||||||
Investment | Default | Investment | Investment | Default | Investment | |||||||||||||||||||||||||
Commercial other | 2 | $ | 50 | $ | 25 | $ | 25 | 3 | $ | 132 | $ | 66 | $ | 66 | ||||||||||||||||
Residential real estate senior liens | — | — | — | — | 1 | 47 | 43 | 4 | ||||||||||||||||||||||
Consumer secured | 1 | 8 | 8 | — | 1 | 8 | 8 | — | ||||||||||||||||||||||
Total | 3 | $ | 58 | $ | 33 | $ | 25 | 5 | $ | 187 | $ | 117 | $ | 70 | ||||||||||||||||
The following is a summary of TDR loan balances as of: | ||||||||||||||||||||||||||||||
September 30 | December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
TDRs | $ | 20,337 | $ | 19,355 | ||||||||||||||||||||||||||
Equity_Securities_Without_Read
Equity Securities Without Readily Determinable Fair Values | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||
EQUITY SECURITIES WITHOUT READILY DETERMINABLE FAIR VALUES | ' | |||||||
Note 7 – Equity Securities Without Readily Determinable Fair Values | ||||||||
Included in equity securities without readily determinable fair values are restricted securities, which are carried at cost, and investments in unconsolidated entities accounted for under the equity method of accounting. | ||||||||
Equity securities without readily determinable fair values consist of the following as of: | ||||||||
September 30 | December 31 | |||||||
2013 | 2012 | |||||||
FHLB Stock | $ | 8,100 | $ | 7,850 | ||||
Corporate Settlement Solutions, LLC | 7,030 | 7,040 | ||||||
FRB Stock | 1,879 | 1,879 | ||||||
Valley Financial Corporation | 1,000 | 1,000 | ||||||
Other | 344 | 349 | ||||||
Total | $ | 18,353 | $ | 18,118 | ||||
Borrowed_Funds
Borrowed Funds | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||||||||
BORROWED FUNDS | ' | |||||||||||||||||||||
Note 8 – Borrowed Funds | ||||||||||||||||||||||
Borrowed funds consist of the following obligations as of: | ||||||||||||||||||||||
September 30 | December 31 | |||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Amount | Rate | Amount | Rate | |||||||||||||||||||
FHLB advances | $ | 162,000 | 2.02 | % | $ | 152,000 | 2.05 | % | ||||||||||||||
Securities sold under agreements to repurchase without stated maturity dates | 81,405 | 0.15 | % | 66,147 | 0.15 | % | ||||||||||||||||
Securities sold under agreements to repurchase with stated maturity dates | 16,296 | 3.57 | % | 16,284 | 3.57 | % | ||||||||||||||||
Federal funds purchased | 6,300 | 0.5 | % | 6,570 | 0.5 | % | ||||||||||||||||
Total | $ | 266,001 | 1.51 | % | $ | 241,001 | 1.59 | % | ||||||||||||||
The FHLB advances are collateralized by a blanket lien on all qualified 1-4 family residential real estate loans and certain mortgage-backed securities and collateralized mortgage obligations. Advances are also secured by our holdings of FHLB stock. As of September 30, 2013, we had the ability to borrow up to an additional $84,966, based on assets pledged as collateral. During the first quarter of 2013 and 2012, we reduced funding costs by modifying the term of $30,000 and $60,000, respectively, of FHLB advances. | ||||||||||||||||||||||
The following table lists the maturity and weighted average interest rates of FHLB advances as of: | ||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||
Amount | Rate | Amount | Rate | |||||||||||||||||||
Fixed rate advances due 2014 | $ | 10,000 | 0.48 | % | $ | 10,000 | 0.48 | % | ||||||||||||||
Fixed rate advances due 2015 | 32,000 | 0.84 | % | 42,000 | 1.12 | % | ||||||||||||||||
Fixed rate advances due 2016 | 10,000 | 2.15 | % | 10,000 | 2.15 | % | ||||||||||||||||
Fixed rate advances due 2017 | 30,000 | 1.95 | % | 40,000 | 2.15 | % | ||||||||||||||||
Fixed rate advances due 2018 | 40,000 | 2.35 | % | 20,000 | 2.86 | % | ||||||||||||||||
Fixed rate advances due 2019 | 20,000 | 3.11 | % | 20,000 | 3.73 | % | ||||||||||||||||
Fixed rate advances due 2020 | 10,000 | 1.98 | % | 10,000 | 1.98 | % | ||||||||||||||||
Fixed rate advances due 2023 | 10,000 | 3.9 | % | — | — | % | ||||||||||||||||
Total | $ | 162,000 | 2.02 | % | $ | 152,000 | 2.05 | % | ||||||||||||||
Securities sold under agreements to repurchase are classified as secured borrowings. Securities sold under agreements to repurchase without stated maturity dates generally mature within one to four days from the transaction date. Securities sold under agreements to repurchase are reflected at the amount of cash received in connection with the transaction. The securities underlying the agreements have a carrying value and a fair value of $139,082 and $143,322 at September 30, 2013 and December 31, 2012, respectively. Such securities remain under our control. We may be required to provide additional collateral based on the fair value of underlying securities. | ||||||||||||||||||||||
The following table provides a summary of short-term borrowings for the three and nine month periods ended: | ||||||||||||||||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | |||||||||||||||||||||
Maximum Month End Balance | Average Balance | Weighted Average Interest Rate During the Period | Maximum Month End Balance | Average Balance | Weighted Average Interest Rate During the Period | |||||||||||||||||
Securities sold under agreements to repurchase without stated maturity dates | $ | 81,405 | $ | 78,148 | 0.15 | % | $ | 58,471 | $ | 57,983 | 0.2 | % | ||||||||||
Federal funds purchased | 6,300 | 5,052 | 0.62 | % | 15,000 | 5,848 | 0.46 | % | ||||||||||||||
Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||
Maximum Month End Balance | Average Balance | Weighted Average Interest Rate During the Period | Maximum Month End Balance | Average Balance | Weighted Average Interest Rate During the Period | |||||||||||||||||
Securities sold under agreements to repurchase without stated maturity dates | $ | 81,405 | $ | 69,224 | 0.15 | % | $ | 58,584 | $ | 55,721 | 0.2 | % | ||||||||||
Federal funds purchased | 13,700 | 4,133 | 0.57 | % | 17,900 | 4,327 | 0.41 | % | ||||||||||||||
We had pledged certificates of deposit held in other financial institutions, trading securities, AFS securities, and 1-4 family residential real estate loans in the following amounts at: | ||||||||||||||||||||||
September 30 | December 31 | |||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Pledged to secure borrowed funds | $ | 304,224 | $ | 308,628 | ||||||||||||||||||
Pledged to secure repurchase agreements | 139,082 | 143,322 | ||||||||||||||||||||
Pledged for public deposits and for other purposes necessary or required by law | 21,595 | 22,955 | ||||||||||||||||||||
Total | $ | 464,901 | $ | 474,905 | ||||||||||||||||||
We had no investment securities that are restricted to be pledged for specific purposes. |
Other_Noninterest_Expenses
Other Noninterest Expenses | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Other Income and Expenses [Abstract] | ' | |||||||||||||||
OTHER NONINTEREST EXPENSES | ' | |||||||||||||||
Note 9 – Other Noninterest Expenses | ||||||||||||||||
A summary of expenses included in other noninterest expenses are as follows for the: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30 | September 30 | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Marketing and community relations | $ | 271 | $ | 610 | $ | 945 | $ | 1,639 | ||||||||
FDIC insurance premiums | 267 | 218 | 812 | 646 | ||||||||||||
Directors fees | 203 | 235 | 607 | 654 | ||||||||||||
Audit and related fees | 189 | 179 | 490 | 509 | ||||||||||||
Education and travel | 110 | 112 | 348 | 378 | ||||||||||||
Loan underwriting fees | 97 | 89 | 336 | 272 | ||||||||||||
Postage and freight | 103 | 105 | 296 | 300 | ||||||||||||
Printing and supplies | 106 | 91 | 291 | 310 | ||||||||||||
Legal fees | 87 | 50 | 267 | 193 | ||||||||||||
Consulting fees | 68 | 92 | 223 | 350 | ||||||||||||
Other | 500 | 455 | 1,533 | 1,431 | ||||||||||||
Total other | $ | 2,001 | $ | 2,236 | $ | 6,148 | $ | 6,682 | ||||||||
Federal_Income_Taxes
Federal Income Taxes | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||||||||||
FEDERAL INCOME TAXES | ' | |||||||||||||||||||||||
Note 10 – Federal Income Taxes | ||||||||||||||||||||||||
The reconciliation of the provision for federal income taxes and the amount computed at the federal statutory tax rate of 34% of income before federal income tax expense is as follows for the: | ||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
September 30 | September 30 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Income taxes at 34% statutory rate | $ | 1,347 | $ | 1,481 | $ | 3,903 | $ | 4,093 | ||||||||||||||||
Effect of nontaxable income | ||||||||||||||||||||||||
Interest income on tax exempt municipal securities | (411 | ) | (391 | ) | (1,212 | ) | (1,170 | ) | ||||||||||||||||
Earnings on corporate owned life insurance policies | (63 | ) | (58 | ) | (185 | ) | (176 | ) | ||||||||||||||||
Other | (217 | ) | (147 | ) | (667 | ) | (439 | ) | ||||||||||||||||
Total effect of nontaxable income | (691 | ) | (596 | ) | (2,064 | ) | (1,785 | ) | ||||||||||||||||
Effect of nondeductible expenses | 18 | 14 | 54 | 36 | ||||||||||||||||||||
Federal income tax expense | $ | 674 | $ | 899 | $ | 1,893 | $ | 2,344 | ||||||||||||||||
A summary of OCI follows for the: | ||||||||||||||||||||||||
Three Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Auction Rate Money Market Preferred and Preferred Stocks | All Other AFS Securities | Total | Auction Rate Money Market Preferred and Preferred Stocks | All Other AFS Securities | Total | |||||||||||||||||||
Unrealized gains (losses) arising during the period | $ | (653 | ) | $ | 1,318 | $ | 665 | $ | 630 | $ | 2,360 | $ | 2,990 | |||||||||||
Reclassification adjustment for net realized (gains) losses included in net income | — | (72 | ) | (72 | ) | — | (116 | ) | (116 | ) | ||||||||||||||
Reclassification adjustment for impairment loss included in net income | — | — | — | — | — | — | ||||||||||||||||||
Net unrealized gains (losses) | (653 | ) | 1,246 | 593 | 630 | 2,244 | 2,874 | |||||||||||||||||
Tax effect | — | (447 | ) | (447 | ) | — | (763 | ) | (763 | ) | ||||||||||||||
Unrealized gains (losses), net of tax | $ | (653 | ) | $ | 799 | $ | 146 | $ | 630 | $ | 1,481 | $ | 2,111 | |||||||||||
Nine Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Auction Rate Money Market Preferred and Preferred Stocks | All Other AFS Securities | Total | Auction Rate Money Market Preferred and Preferred Stocks | All Other AFS Securities | Total | |||||||||||||||||||
Unrealized gains (losses) arising during the period | $ | (358 | ) | $ | (12,935 | ) | $ | (13,293 | ) | $ | 2,049 | $ | 3,160 | $ | 5,209 | |||||||||
Reclassification adjustment for net realized (gains) losses included in net income | — | (171 | ) | (171 | ) | — | (1,119 | ) | (1,119 | ) | ||||||||||||||
Reclassification adjustment for impairment loss included in net income | — | — | — | — | 282 | 282 | ||||||||||||||||||
Net unrealized gains (losses) | (358 | ) | (13,106 | ) | (13,464 | ) | 2,049 | 2,323 | 4,372 | |||||||||||||||
Tax effect | — | 4,455 | 4,455 | — | (790 | ) | (790 | ) | ||||||||||||||||
Unrealized gains (losses), net of tax | $ | (358 | ) | $ | (8,651 | ) | $ | (9,009 | ) | $ | 2,049 | $ | 1,533 | $ | 3,582 | |||||||||
Defined_Benefit_Pension_Plan
Defined Benefit Pension Plan | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
DEFINED BENEFIT PENSION PLAN | ' | |||||||||||||||
Note 11 – Defined Benefit Pension Plan | ||||||||||||||||
We maintain a noncontributory defined benefit pension plan, which was curtailed effective March 1, 2007. As a result of the curtailment, future salary increases are no longer considered and plan benefits are based on years of service and the individual employee’s five highest consecutive years of compensation out of the last ten years of service through March 1, 2007. We contributed $215 and $709 to the plan during the nine month periods ended September 30, 2013 and 2012, respectively. We do not anticipate any further contributions to the plan in 2013. | ||||||||||||||||
Following are the components of net periodic benefit cost for the three and nine month periods ended: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30 | September 30 | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest cost on PBO | $ | 113 | $ | 118 | $ | 338 | $ | 353 | ||||||||
Expected return on plan assets | (143 | ) | (127 | ) | (430 | ) | (381 | ) | ||||||||
Amortization of unrecognized actuarial net loss | 83 | 73 | 248 | 219 | ||||||||||||
Net periodic benefit cost | $ | 53 | $ | 64 | $ | 156 | $ | 191 | ||||||||
Fair_Value
Fair Value | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
FAIR VALUE | ' | |||||||||||||||||||||||||||||||
Note 12 – Fair Value | ||||||||||||||||||||||||||||||||
Following is a description of the valuation methodologies, key inputs, and an indication of the level of the fair value hierarchy in which the assets or liabilities are classified. | ||||||||||||||||||||||||||||||||
Cash and cash equivalents: The carrying amounts of cash and short term investments, including Federal funds sold, approximate fair values. As such, we classify cash and demand deposits due from banks as Level 1. | ||||||||||||||||||||||||||||||||
Certificates of deposit held in other financial institutions: Interest bearing balances held in unaffiliated financial institutions include certificates of deposit and other short term interest bearing balances that mature within 3 years. Fair value is determined using prices for similar assets with similar characteristics. As such, we classify certificates of deposits held in other financial institutions as Level 2. | ||||||||||||||||||||||||||||||||
AFS and trading securities: AFS and trading securities are recorded at fair value on a recurring basis. Level 1 fair value measurement is based upon quoted prices for identical instruments. Level 2 fair value measurement is based upon quoted prices for similar instruments. If quoted prices are not available, fair values are measured using independent pricing models or other model based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss and liquidity assumptions. The values for Level 1 and Level 2 investment securities are generally obtained from an independent third party. On a quarterly basis, we compare the values provided to alternative pricing sources. | ||||||||||||||||||||||||||||||||
Mortgage loans AFS: Mortgage loans AFS are carried at the lower of cost or fair value. The fair value of Mortgage loans AFS are based on what price secondary markets are currently offering for portfolios with similar characteristics. As such, we classify Mortgage loans AFS subject to nonrecurring fair value adjustments as Level 2. | ||||||||||||||||||||||||||||||||
Loans: For variable rate loans with no significant change in credit risk, fair values are based on carrying values. Fair values for fixed rate loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. The resulting amounts are adjusted to estimate the effect of changes in the credit quality of borrowers since the loans were originated. As such, we classify loans as Level 3 assets. | ||||||||||||||||||||||||||||||||
We do not record loans at fair value on a recurring basis. However, from time-to-time, loans are classified as impaired and a specific allowance for loan losses may be established. Loans for which it is probable that payment of interest and principal will be significantly different than the contractual terms of the original loan agreement are considered impaired. Once a loan is identified as impaired, we measure the estimated impairment. The fair value of impaired loans is estimated using one of several methods, including collateral value, market value of similar debt, enterprise value, liquidation value, or discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. | ||||||||||||||||||||||||||||||||
We review the net realizable values of the underlying collateral for collateral dependent impaired loans on at least a quarterly basis for all loan types. To determine the collateral value, we utilize independent appraisals, broker price opinions, or internal evaluations. We review these valuations to determine whether an additional discount should be applied given the age of market information that may have been considered as well as other factors such as costs to carry and sell an asset if it is determined that the collateral will be liquidated in connection with the ultimate settlement of the loan. We use these valuations to determine if any charge-offs or specific reserves are necessary. We may obtain new valuations in certain circumstances, including when there has been significant deterioration in the condition of the collateral, if the foreclosure process has begun, or if the existing valuation is deemed to be outdated. Due to the inherent level of estimation in the valuation process, we record impaired loans as nonrecurring Level 3. | ||||||||||||||||||||||||||||||||
The table below lists the quantitative information about impaired loans measured utilizing Level 3 fair value measurements as of: | ||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Valuation Techniques | Fair Value | Unobservable Input | Range | |||||||||||||||||||||||||||||
Discounted cash flow | $9,452 | Duration of cash flows: | 5-120 Months | |||||||||||||||||||||||||||||
Reduction in interest rate from original loan terms: | 5.00% - 6.38% | |||||||||||||||||||||||||||||||
Discount applied to collateral appraisal: | ||||||||||||||||||||||||||||||||
Real Estate | 20% - 30% | |||||||||||||||||||||||||||||||
Equipment | 50% | |||||||||||||||||||||||||||||||
Discounted appraisal value | $11,068 | Livestock | 50% | |||||||||||||||||||||||||||||
Cash crop inventory | 50% | |||||||||||||||||||||||||||||||
Other inventory | 75% | |||||||||||||||||||||||||||||||
Accounts receivable | 75% | |||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Valuation Techniques | Fair Value | Unobservable Input | Range | |||||||||||||||||||||||||||||
Discounted cash flow | $8,726 | Duration of cash flows: | 14-120 Months | |||||||||||||||||||||||||||||
Reduction in interest rate from original loan terms: | 5.00% - 6.25% | |||||||||||||||||||||||||||||||
Discount applied to collateral appraisal: | ||||||||||||||||||||||||||||||||
Real Estate | 20% - 30% | |||||||||||||||||||||||||||||||
Equipment | 50% | |||||||||||||||||||||||||||||||
Discounted appraisal value | $13,295 | Livestock | 50% | |||||||||||||||||||||||||||||
Cash crop inventory | 50% | |||||||||||||||||||||||||||||||
Other inventory | 75% | |||||||||||||||||||||||||||||||
Accounts receivable | 75% | |||||||||||||||||||||||||||||||
Accrued interest receivable: The carrying amounts of accrued interest receivable approximate fair value. As such, we classify accrued interest receivable as Level 1. | ||||||||||||||||||||||||||||||||
Equity securities without readily determinable fair values: Included in equity securities without readily determinable fair values are FHLB stock and FRB stock as well as our ownership interests in Corporate Settlement Solutions, LLC and Valley Financial Corporation. The investment in Corporate Settlement Solutions, LLC, a title insurance company, was made in the first quarter 2007. We are not the managing entity of Corporate Settlement Solutions, LLC, and therefore, we account for our investment under the equity method of accounting. Valley Financial Corporation is the parent company of 1st State Bank in Saginaw, Michigan, which is a de novo bank that opened in 2005. We made investments in Valley Financial Corporation in 2004 and in 2007. | ||||||||||||||||||||||||||||||||
The lack of an active market, or other independent sources to validate fair value estimates coupled with the impact of future capital calls and transfer restrictions, is an inherent limitation in the valuation process. As the fair values of these investments are not readily determinable, they are not disclosed under a specific fair value hierarchy; however, they are reviewed quarterly for impairment. If we were to record an impairment adjustment related to these securities, it would be classified as a nonrecurring Level 3 fair value adjustment. During 2013 and 2012, there were no impairments recorded on equity securities without readily determinable fair values. | ||||||||||||||||||||||||||||||||
Foreclosed assets: Upon transfer from the loan portfolio, foreclosed assets (which are included in other assets) are adjusted to and subsequently carried at the lower of carrying value or fair value less costs to sell. Net realizable value is based upon independent market prices, appraised values of the collateral, or management’s estimation of the value of the collateral. Due to the inherent level of estimation in the valuation process, we record foreclosed assets as nonrecurring Level 3. | ||||||||||||||||||||||||||||||||
The table below lists the quantitative information related to foreclosed assets measured utilizing Level 3 fair value measurements as of: | ||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Valuation Techniques | Fair Value | Unobservable Input | Range | |||||||||||||||||||||||||||||
Discount applied to collateral appraisal: | ||||||||||||||||||||||||||||||||
Discounted appraisal value | $ | 1,186 | Real Estate | 20% - 30% | ||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
Valuation Techniques | Fair Value | Unobservable Input | Range | |||||||||||||||||||||||||||||
Discount applied to collateral appraisal: | ||||||||||||||||||||||||||||||||
Discounted appraisal value | $ | 2,018 | Real Estate | 20% - 30% | ||||||||||||||||||||||||||||
Goodwill and other intangible assets: Acquisition intangibles and goodwill are evaluated for potential impairment on at least an annual basis. Acquisition intangibles and goodwill are typically qualitatively evaluated to determine if it is more likely than not that the carrying balance is impaired. If it is determined that the carrying balance of acquisition intangibles or goodwill is more likely than not to be impaired, we perform a cash flow valuation to determine the extent of the potential impairment. If the testing resulted in impairment, we would classify goodwill and other acquisition intangibles subjected to nonrecurring fair value adjustments as Level 3. During 2013 and 2012, there were no impairments recorded on goodwill and other acquisition intangibles. | ||||||||||||||||||||||||||||||||
OMSRs: OMSRs (which are included in other assets) are subject to impairment testing. To test for impairment, we utilize a discounted cash flow analysis using interest rates and prepayment speed assumptions currently quoted for comparable instruments and discount rates. If the valuation model reflects a value less than the carrying value, OMSRs are adjusted to fair value through a valuation allowance as determined by the model. As such, we classify OMSRs subject to nonrecurring fair value adjustments as Level 2. | ||||||||||||||||||||||||||||||||
Deposits: The fair value of demand, savings, and money market deposits are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts), and are classified as Level 1. Fair values for variable rate certificates of deposit approximate their recorded carrying value. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. As such, fixed rate certificates of deposit are classified as Level 2. | ||||||||||||||||||||||||||||||||
Borrowed funds: The carrying amounts of federal funds purchased, borrowings under overnight repurchase agreements, and other short-term borrowings maturing within ninety days approximate their fair values. The fair values of other borrowed funds are estimated using discounted cash flow analyses based on current incremental borrowing arrangements. As such, borrowed funds are classified as Level 2. | ||||||||||||||||||||||||||||||||
Accrued interest payable: The carrying amounts of accrued interest payable approximate fair value. As such, we classify accrued interest payable as Level 1. | ||||||||||||||||||||||||||||||||
Commitments to extend credit, standby letters of credit, and undisbursed loans: Our commitments to extend credit, standby letters of credit, and undisbursed funds have no carrying amount and are estimated to have no realizable fair value. Historically, a majority of the unused commitments to extend credit have not been drawn upon and, generally, we do not receive fees in connection with these commitments other than standby letter of credit fees, which are not significant. | ||||||||||||||||||||||||||||||||
The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Although we believe our valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement. | ||||||||||||||||||||||||||||||||
Estimated Fair Values of Financial Instruments Not Recorded at Fair Value in their Entirety on a Recurring Basis | ||||||||||||||||||||||||||||||||
Disclosure of the estimated fair values of financial instruments, which differ from carrying values, often requires the use of estimates. In cases where quoted market values in an active market are not available, we use present value techniques and other valuation methods to estimate the fair values of our financial instruments. These valuation methods require considerable judgment and the resulting estimates of fair value can be significantly affected by the assumptions made and methods used. | ||||||||||||||||||||||||||||||||
The carrying amount and estimated fair value of financial instruments not recorded at fair value in their entirety on a recurring basis on our consolidated balance sheets are as follows as of: | ||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Carrying | Estimated | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||||
Value | Fair Value | |||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 21,604 | $ | 21,604 | $ | 21,604 | $ | — | $ | — | ||||||||||||||||||||||
Certificates of deposit held in other financial institutions | 2,045 | 2,048 | — | 2,048 | — | |||||||||||||||||||||||||||
Mortgage loans AFS | 712 | 722 | — | 722 | — | |||||||||||||||||||||||||||
Total loans | 807,849 | 808,884 | — | — | 808,884 | |||||||||||||||||||||||||||
Less allowance for loan and lease losses | (11,600 | ) | (11,600 | ) | — | — | (11,600 | ) | ||||||||||||||||||||||||
Net loans | 796,249 | 797,284 | — | — | 797,284 | |||||||||||||||||||||||||||
Accrued interest receivable | 6,584 | 6,584 | 6,584 | — | — | |||||||||||||||||||||||||||
Equity securities without readily determinable fair values (1) | 18,353 | 18,353 | — | — | — | |||||||||||||||||||||||||||
OMSRs | 2,659 | 2,732 | — | 2,732 | — | |||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||
Deposits without stated maturities | 574,860 | 574,860 | 574,860 | — | — | |||||||||||||||||||||||||||
Deposits with stated maturities | 449,071 | 451,336 | — | 451,336 | — | |||||||||||||||||||||||||||
Borrowed funds | 266,001 | 268,637 | — | 268,637 | — | |||||||||||||||||||||||||||
Accrued interest payable | 713 | 713 | 713 | — | — | |||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Carrying | Estimated | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||||
Value | Fair Value | |||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 24,920 | $ | 24,920 | $ | 24,920 | $ | — | $ | — | ||||||||||||||||||||||
Certificates of deposit held in other financial institutions | 4,465 | 4,475 | — | 4,475 | — | |||||||||||||||||||||||||||
Mortgage loans AFS | 3,633 | 3,680 | — | 3,680 | — | |||||||||||||||||||||||||||
Total loans | 772,753 | 784,964 | — | — | 784,964 | |||||||||||||||||||||||||||
Less allowance for loan and lease losses | (11,936 | ) | (11,936 | ) | — | — | (11,936 | ) | ||||||||||||||||||||||||
Net loans | 760,817 | 773,028 | — | — | 773,028 | |||||||||||||||||||||||||||
Accrued interest receivable | 5,227 | 5,227 | 5,227 | — | — | |||||||||||||||||||||||||||
Equity securities without readily determinable fair values (1) | 18,118 | 18,118 | — | — | — | |||||||||||||||||||||||||||
OMSRs | 2,285 | 2,285 | — | 2,285 | — | |||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||
Deposits without stated maturities | 553,332 | 553,332 | 553,332 | — | — | |||||||||||||||||||||||||||
Deposits with stated maturities | 464,335 | 472,630 | — | 472,630 | — | |||||||||||||||||||||||||||
Borrowed funds | 241,001 | 248,822 | — | 248,822 | — | |||||||||||||||||||||||||||
Accrued interest payable | 751 | 751 | 751 | — | — | |||||||||||||||||||||||||||
(1) | Due to the characteristics of equity securities without readily determinable fair values, they are not disclosed under a specific fair value hierarchy. If we were to record an impairment adjustment related to these securities, such amount would be classified as a nonrecurring Level 3 fair value adjustment. | |||||||||||||||||||||||||||||||
Financial Instruments Recorded at Fair Value | ||||||||||||||||||||||||||||||||
The table below presents the recorded amount of assets and liabilities measured at fair value on: | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||
Recurring items | ||||||||||||||||||||||||||||||||
Trading securities | ||||||||||||||||||||||||||||||||
States and political subdivisions | $ | 745 | $ | — | $ | 745 | $ | — | $ | 1,573 | $ | — | $ | 1,573 | $ | — | ||||||||||||||||
AFS Securities | ||||||||||||||||||||||||||||||||
Government-sponsored enterprises | 24,155 | — | 24,155 | — | 25,776 | — | 25,776 | — | ||||||||||||||||||||||||
States and political subdivisions | 193,786 | — | 193,786 | — | 182,743 | — | 182,743 | — | ||||||||||||||||||||||||
Auction rate money market preferred | 2,639 | — | 2,639 | — | 2,778 | — | 2,778 | — | ||||||||||||||||||||||||
Preferred stocks | 6,144 | 6,144 | — | — | 6,363 | 6,363 | — | — | ||||||||||||||||||||||||
Mortgage-backed securities | 146,393 | — | 146,393 | — | 155,345 | — | 155,345 | — | ||||||||||||||||||||||||
Collateralized mortgage obligations | 127,940 | — | 127,940 | — | 131,005 | — | 131,005 | — | ||||||||||||||||||||||||
Total AFS Securities | 501,057 | 6,144 | 494,913 | — | 504,010 | 6,363 | 497,647 | — | ||||||||||||||||||||||||
Nonrecurring items | ||||||||||||||||||||||||||||||||
Impaired loans (net of the ALLL) | 20,520 | — | — | 20,520 | 22,021 | — | — | 22,021 | ||||||||||||||||||||||||
Foreclosed assets | 1,186 | — | — | 1,186 | 2,018 | — | — | 2,018 | ||||||||||||||||||||||||
$ | 523,508 | $ | 6,144 | $ | 495,658 | $ | 21,706 | $ | 529,622 | $ | 6,363 | $ | 499,220 | $ | 24,039 | |||||||||||||||||
Percent of assets and liabilities measured at fair value | 1.17 | % | 94.68 | % | 4.15 | % | 1.2 | % | 94.26 | % | 4.54 | % | ||||||||||||||||||||
The following table provides a summary of the changes in fair value of assets and liabilities recorded at fair value through earnings on a recurring basis and changes in assets and liabilities recorded at fair value on a nonrecurring basis, for which gains or losses were recognized in the three and nine month periods ended: | ||||||||||||||||||||||||||||||||
Three Months Ended September 30 | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
Trading | Other Gains | Total | Trading | Other Gains | Total | |||||||||||||||||||||||||||
Losses | (Losses) | Losses | (Losses) | |||||||||||||||||||||||||||||
Recurring items | ||||||||||||||||||||||||||||||||
Trading securities | $ | (5 | ) | $ | — | $ | (5 | ) | $ | (9 | ) | $ | — | $ | (9 | ) | ||||||||||||||||
Borrowed funds | — | — | — | — | — | — | ||||||||||||||||||||||||||
Nonrecurring items | ||||||||||||||||||||||||||||||||
Foreclosed assets | — | (39 | ) | (39 | ) | — | — | — | ||||||||||||||||||||||||
Total | $ | (5 | ) | $ | (39 | ) | $ | (44 | ) | $ | (9 | ) | $ | — | $ | (9 | ) | |||||||||||||||
Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
Trading | Other Gains | Total | Trading | Other Gains | Total | |||||||||||||||||||||||||||
Losses | (Losses) | Losses | (Losses) | |||||||||||||||||||||||||||||
Recurring items | ||||||||||||||||||||||||||||||||
Trading securities | $ | (23 | ) | $ | — | $ | (23 | ) | $ | (41 | ) | $ | — | $ | (41 | ) | ||||||||||||||||
Borrowed funds | — | — | — | — | 33 | 33 | ||||||||||||||||||||||||||
Nonrecurring items | ||||||||||||||||||||||||||||||||
Foreclosed assets | — | (131 | ) | (131 | ) | — | (17 | ) | (17 | ) | ||||||||||||||||||||||
Total | $ | (23 | ) | $ | (131 | ) | $ | (154 | ) | $ | (41 | ) | $ | 16 | $ | (25 | ) | |||||||||||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Notes) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||||||||
ACCUMULATED OTHER COMPREHENSIVE INCOME | ' | |||||||||||||||||||||||
Note 13 – Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||||||
The following table summarizes the changes in AOCI by component for the: | ||||||||||||||||||||||||
Three Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Unrealized | Defined | Total | Unrealized | Defined | Total | |||||||||||||||||||
Holding Gains | Benefit | Holding Gains | Benefit | |||||||||||||||||||||
(Losses) on | Pension Plan | (Losses) on | Pension Plan | |||||||||||||||||||||
AFS | AFS | |||||||||||||||||||||||
Securities | Securities | |||||||||||||||||||||||
1-Jul-13 | $ | (477 | ) | $ | (3,671 | ) | $ | (4,148 | ) | $ | 7,413 | $ | (3,453 | ) | $ | 3,960 | ||||||||
OCI before reclassifications | 665 | — | 665 | 2,990 | — | 2,990 | ||||||||||||||||||
Amounts reclassified from AOCI | (72 | ) | — | (72 | ) | (116 | ) | — | (116 | ) | ||||||||||||||
Subtotal | 593 | — | 593 | 2,874 | — | 2,874 | ||||||||||||||||||
Tax effect | (447 | ) | — | (447 | ) | (763 | ) | — | (763 | ) | ||||||||||||||
OCI, net of tax | 146 | — | 146 | 2,111 | — | 2,111 | ||||||||||||||||||
30-Sep-13 | $ | (331 | ) | $ | (3,671 | ) | $ | (4,002 | ) | $ | 9,524 | $ | (3,453 | ) | $ | 6,071 | ||||||||
Nine Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Unrealized | Defined | Total | Unrealized | Defined | Total | |||||||||||||||||||
Holding Gains | Benefit | Holding Gains | Benefit | |||||||||||||||||||||
(Losses) on | Pension Plan | (Losses) on | Pension Plan | |||||||||||||||||||||
AFS | AFS | |||||||||||||||||||||||
Securities | Securities | |||||||||||||||||||||||
1-Jan-13 | $ | 8,678 | $ | (3,671 | ) | $ | 5,007 | $ | 5,942 | $ | (3,453 | ) | $ | 2,489 | ||||||||||
OCI before reclassifications | (13,293 | ) | — | (13,293 | ) | 5,209 | — | 5,209 | ||||||||||||||||
Amounts reclassified from AOCI | (171 | ) | — | (171 | ) | (837 | ) | — | (837 | ) | ||||||||||||||
Subtotal | (13,464 | ) | — | (13,464 | ) | 4,372 | — | 4,372 | ||||||||||||||||
Tax effect | 4,455 | — | 4,455 | (790 | ) | — | (790 | ) | ||||||||||||||||
OCI, net of tax | (9,009 | ) | — | (9,009 | ) | 3,582 | — | 3,582 | ||||||||||||||||
30-Sep-13 | $ | (331 | ) | $ | (3,671 | ) | $ | (4,002 | ) | $ | 9,524 | $ | (3,453 | ) | $ | 6,071 | ||||||||
Included in OCI for the three and nine month periods ended September 30, 2013 and 2012 are changes in unrealized holding gains and losses related to auction rate money market preferred and preferred stocks. For federal income tax purposes, these securities are considered equity investments. As such, no deferred federal income taxes related to unrealized holding gains or losses are expected or recorded. | ||||||||||||||||||||||||
The following table details reclassification adjustments and the related affected line items on our interim condensed consolidated statements of income for the noted periods: | ||||||||||||||||||||||||
Details about AOCI components | Amount | Affected Line Item in the | ||||||||||||||||||||||
Reclassified from | Interim Condensed Consolidated | |||||||||||||||||||||||
AOCI | Statements of Income | |||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Unrealized holding gains (losses) on AFS securities | ||||||||||||||||||||||||
$ | 72 | $ | 116 | $ | 171 | $ | 1,119 | Gain (loss) on sale of AFS securities | ||||||||||||||||
— | — | — | (282 | ) | Net AFS impairment loss | |||||||||||||||||||
72 | 116 | 171 | 837 | Income before federal income tax expense | ||||||||||||||||||||
24 | 39 | 58 | 285 | Federal income tax expense | ||||||||||||||||||||
$ | 48 | $ | 77 | $ | 113 | $ | 552 | Net income | ||||||||||||||||
Parent_Company_Only_Financial_
Parent Company Only Financial Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||||
PARENT COMPANY ONLY FINANCIAL INFORMATION | ' | |||||||||||||||
Note 14 – Parent Company Only Financial Information | ||||||||||||||||
Interim Condensed Balance Sheets | ||||||||||||||||
September 30 | December 31 | |||||||||||||||
2013 | 2012 | |||||||||||||||
ASSETS | ||||||||||||||||
Cash on deposit at the Bank | $ | 418 | $ | 332 | ||||||||||||
AFS Securities | 3,527 | 3,939 | ||||||||||||||
Investments in subsidiaries | 113,002 | 115,781 | ||||||||||||||
Premises and equipment | 2,045 | 2,041 | ||||||||||||||
Other assets | 52,454 | 52,398 | ||||||||||||||
TOTAL ASSETS | $ | 171,446 | $ | 174,491 | ||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||
Other liabilities | $ | 10,141 | $ | 10,002 | ||||||||||||
Shareholders' equity | 161,305 | 164,489 | ||||||||||||||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 171,446 | $ | 174,491 | ||||||||||||
Interim Condensed Statements of Income | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30 | September 30 | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Income | ||||||||||||||||
Dividends from subsidiaries | $ | 1,500 | $ | 1,500 | $ | 4,500 | $ | 4,625 | ||||||||
Interest income | 39 | 42 | 123 | 131 | ||||||||||||
Management fee and other | 637 | 581 | 1,704 | 1,547 | ||||||||||||
Total income | 2,176 | 2,123 | 6,327 | 6,303 | ||||||||||||
Expenses | ||||||||||||||||
Compensation and benefits | 680 | 596 | 2,061 | 1,810 | ||||||||||||
Occupancy and equipment | 132 | 91 | 362 | 273 | ||||||||||||
Audit and related fees | 98 | 98 | 256 | 273 | ||||||||||||
Other | 230 | 220 | 731 | 717 | ||||||||||||
Total expenses | 1,140 | 1,005 | 3,410 | 3,073 | ||||||||||||
Income before income tax benefit and equity in undistributed earnings of subsidiaries | 1,036 | 1,118 | 2,917 | 3,230 | ||||||||||||
Federal income tax benefit | 161 | 136 | 549 | 493 | ||||||||||||
Undistributed earnings of subsidiaries | 2,089 | 2,203 | 6,120 | 5,972 | ||||||||||||
Net income | $ | 3,286 | $ | 3,457 | $ | 9,586 | $ | 9,695 | ||||||||
Interim Condensed Statements of Cash Flows | ||||||||||||||||
Nine Months Ended | ||||||||||||||||
September 30 | ||||||||||||||||
2013 | 2012 | |||||||||||||||
OPERATING ACTIVITIES | ||||||||||||||||
Net income | $ | 9,586 | $ | 9,695 | ||||||||||||
Adjustments to reconcile net income to cash provided by operations | ||||||||||||||||
Undistributed earnings of subsidiaries | (6,120 | ) | (5,972 | ) | ||||||||||||
Undistributed earnings of equity securities without readily determinable fair values | 14 | — | ||||||||||||||
Share-based payment awards | 423 | 496 | ||||||||||||||
Depreciation | 136 | 84 | ||||||||||||||
Net amortization of AFS securities | 1 | 3 | ||||||||||||||
Changes in operating assets and liabilities which used cash | ||||||||||||||||
Other assets | (65 | ) | (363 | ) | ||||||||||||
Accrued interest and other liabilities | 939 | (224 | ) | |||||||||||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 4,914 | 3,719 | ||||||||||||||
INVESTING ACTIVITIES | ||||||||||||||||
Maturities, calls, and sales of AFS securities | 395 | 370 | ||||||||||||||
Purchases of equipment and premises | (140 | ) | (112 | ) | ||||||||||||
Advances to subsidiaries, net of repayments | (99 | ) | (50 | ) | ||||||||||||
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 156 | 208 | ||||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||
Net increase (decrease) in borrowed funds | (800 | ) | (297 | ) | ||||||||||||
Cash dividends paid on common stock | (4,838 | ) | (4,553 | ) | ||||||||||||
Proceeds from the issuance of common stock | 2,754 | 2,025 | ||||||||||||||
Common stock repurchased | (1,815 | ) | (1,520 | ) | ||||||||||||
Common stock purchased for deferred compensation obligations | (285 | ) | (361 | ) | ||||||||||||
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | (4,984 | ) | (4,706 | ) | ||||||||||||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 86 | (779 | ) | |||||||||||||
Cash and cash equivalents at beginning of period | 332 | 1,474 | ||||||||||||||
Cash and cash equivalents at end of period | $ | 418 | $ | 695 | ||||||||||||
Operating_Segments
Operating Segments | 9 Months Ended |
Sep. 30, 2013 | |
Segment Reporting [Abstract] | ' |
OPERATING SEGMENTS | ' |
Note 15 – Operating Segments | |
Our reportable segments are based on legal entities that account for at least 10% of net operating results. The operations of the Bank as of September 30, 2013 and 2012 and each of the three and nine month periods then ended, represented 90% or more of our consolidated total assets and operating results. As such, no additional segment reporting is presented. |
Recently_Adopted_Accounting_St1
Recently Adopted Accounting Standards Update (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Changes and Error Corrections [Abstract] | ' |
Comprehensive Income | ' |
ASU No. 2013-02: “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” | |
In February 2013, ASU No. 2013-02 amended ASC Topic 220, “Comprehensive Income” to require disclosures related to reclassifications out of AOCI in one place. The ASU also requires the disclosure of reclassifications out of AOCI by component. The new authoritative guidance was effective for interim and annual periods beginning after December 15, 2012 and did not have a financial impact on the Corporation, but increased the level of disclosures related to AOCI (see "Note 13 – Accumulated Other Comprehensive Income (Loss)"). |
Computation_of_Earnings_Per_Sh1
Computation of Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Computation of earnings per common share | ' | |||||||||||||||
Earnings per common share have been computed based on the following: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30 | September 30 | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Average number of common shares outstanding for basic calculation | 7,698,066 | 7,600,443 | 7,689,350 | 7,595,806 | ||||||||||||
Average potential effect of shares in the Directors Plan (1) | 170,420 | 206,233 | 168,020 | 203,250 | ||||||||||||
Average number of common shares outstanding used to calculate diluted earnings per common share | 7,868,486 | 7,806,676 | 7,857,370 | 7,799,056 | ||||||||||||
Net income | $ | 3,286 | $ | 3,457 | $ | 9,586 | $ | 9,695 | ||||||||
Earnings per share | ||||||||||||||||
Basic | $ | 0.43 | $ | 0.45 | $ | 1.25 | $ | 1.28 | ||||||||
Diluted | $ | 0.42 | $ | 0.44 | $ | 1.22 | $ | 1.24 | ||||||||
(1) | Exclusive of shares held in the Rabbi Trust |
Trading_Securities_Tables
Trading Securities (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||
Schedule of trading securities, at fair value | ' | |||||||
Trading securities, at fair value, consist of the following investments at: | ||||||||
September 30 | December 31 | |||||||
2013 | 2012 | |||||||
States and political subdivisions | $ | 745 | $ | 1,573 | ||||
AvailableforSale_Securities_Ta
Available-for-Sale Securities (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Amortized cost and fair value of available-for-sale securities | ' | |||||||||||||||||||||||
The amortized cost and fair value of AFS securities, with gross unrealized gains and losses, are as follows at: | ||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
Government sponsored enterprises | $ | 24,985 | $ | 7 | $ | 837 | $ | 24,155 | ||||||||||||||||
States and political subdivisions | 189,998 | 6,233 | 2,445 | 193,786 | ||||||||||||||||||||
Auction rate money market preferred | 3,200 | — | 561 | 2,639 | ||||||||||||||||||||
Preferred stocks | 6,800 | 2 | 658 | 6,144 | ||||||||||||||||||||
Mortgage-backed securities | 147,875 | 1,239 | 2,721 | 146,393 | ||||||||||||||||||||
Collateralized mortgage obligations | 128,073 | 1,331 | 1,464 | 127,940 | ||||||||||||||||||||
Total | $ | 500,931 | $ | 8,812 | $ | 8,686 | $ | 501,057 | ||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
Government sponsored enterprises | $ | 25,668 | $ | 108 | $ | — | $ | 25,776 | ||||||||||||||||
States and political subdivisions | 174,118 | 9,190 | 565 | 182,743 | ||||||||||||||||||||
Auction rate money market preferred | 3,200 | — | 422 | 2,778 | ||||||||||||||||||||
Preferred stocks | 6,800 | — | 437 | 6,363 | ||||||||||||||||||||
Mortgage-backed securities | 152,256 | 3,199 | 110 | 155,345 | ||||||||||||||||||||
Collateralized mortgage obligations | 128,378 | 2,627 | — | 131,005 | ||||||||||||||||||||
Total | $ | 490,420 | $ | 15,124 | $ | 1,534 | $ | 504,010 | ||||||||||||||||
Amortized cost and fair value of available-for-sale securities by contractual maturity | ' | |||||||||||||||||||||||
The amortized cost and fair value of AFS securities by contractual maturity at September 30, 2013 are as follows: | ||||||||||||||||||||||||
Maturing | Securities with Variable Monthly Payments or Noncontractual Maturities | |||||||||||||||||||||||
Due in | After One | After Five | After | Total | ||||||||||||||||||||
One Year | Year But | Years But | Ten Years | |||||||||||||||||||||
or Less | Within | Within | ||||||||||||||||||||||
Five Years | Ten Years | |||||||||||||||||||||||
Government sponsored enterprises | $ | — | $ | 72 | $ | 24,913 | $ | — | $ | — | $ | 24,985 | ||||||||||||
States and political subdivisions | 5,068 | 35,993 | 93,353 | 55,584 | — | 189,998 | ||||||||||||||||||
Auction rate money market preferred | — | — | — | — | 3,200 | 3,200 | ||||||||||||||||||
Preferred stocks | — | — | — | — | 6,800 | 6,800 | ||||||||||||||||||
Mortgage-backed securities | — | — | — | — | 147,875 | 147,875 | ||||||||||||||||||
Collateralized mortgage obligations | — | — | — | — | 128,073 | 128,073 | ||||||||||||||||||
Total amortized cost | $ | 5,068 | $ | 36,065 | $ | 118,266 | $ | 55,584 | $ | 285,948 | $ | 500,931 | ||||||||||||
Fair value | $ | 5,237 | $ | 37,363 | $ | 120,324 | $ | 55,017 | $ | 283,116 | $ | 501,057 | ||||||||||||
Summary of the activity related to sales of available-for-sale securities | ' | |||||||||||||||||||||||
A summary of the activity related to sales of AFS securities was as follows for the three and nine month periods ended: | ||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
September 30 | September 30 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Proceeds from sales of AFS securities | $ | 6,372 | $ | 16,436 | $ | 16,229 | $ | 40,677 | ||||||||||||||||
Gross realized gains (losses) | $ | 72 | $ | 116 | $ | 171 | $ | 1,119 | ||||||||||||||||
Applicable income tax expense (benefit) | $ | 24 | $ | 39 | $ | 58 | $ | 380 | ||||||||||||||||
Available-for-sale securities with gross unrealized losses | ' | |||||||||||||||||||||||
Information pertaining to AFS securities with gross unrealized losses at September 30, 2013 and December 31, 2012 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: | ||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||
Less Than Twelve Months | Twelve Months or More | |||||||||||||||||||||||
Gross | Fair | Gross | Fair | Total | ||||||||||||||||||||
Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||
Government sponsored enterprises | $ | 837 | $ | 23,157 | $ | — | $ | — | $ | 837 | ||||||||||||||
States and political subdivisions | 1,952 | 39,713 | 493 | 2,069 | 2,445 | |||||||||||||||||||
Auction rate money market preferred | — | — | 561 | 2,639 | 561 | |||||||||||||||||||
Preferred stocks | — | — | 658 | 3,141 | 658 | |||||||||||||||||||
Mortgage-backed securities | 2,721 | 77,269 | — | — | 2,721 | |||||||||||||||||||
Collateralized mortgage obligations | 1,464 | 56,189 | — | — | 1,464 | |||||||||||||||||||
Total | $ | 6,974 | $ | 196,328 | $ | 1,712 | $ | 7,849 | $ | 8,686 | ||||||||||||||
Number of securities in an unrealized loss position: | 154 | 6 | 160 | |||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||
Less Than Twelve Months | Twelve Months or More | |||||||||||||||||||||||
Gross | Fair | Gross | Fair | Total | ||||||||||||||||||||
Unrealized | Value | Unrealized | Value | Unrealized | ||||||||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||||||
States and political subdivisions | $ | 80 | $ | 5,019 | $ | 485 | $ | 2,352 | $ | 565 | ||||||||||||||
Auction rate money market preferred | — | — | 422 | 2,778 | 422 | |||||||||||||||||||
Preferred stocks | — | — | 437 | 3,363 | 437 | |||||||||||||||||||
Mortgage-backed securities | 110 | 25,499 | — | — | 110 | |||||||||||||||||||
Total | $ | 190 | $ | 30,518 | $ | 1,344 | $ | 8,493 | $ | 1,534 | ||||||||||||||
Number of securities in an unrealized loss position: | 15 | 6 | 21 | |||||||||||||||||||||
Key valuation assumptions | ' | |||||||||||||||||||||||
A summary of key valuation assumptions used in the aforementioned analysis as of March 31, 2012, follows: | ||||||||||||||||||||||||
Discounted Cash Flow Method | ||||||||||||||||||||||||
Ratings | ||||||||||||||||||||||||
Fitch | Not Rated | |||||||||||||||||||||||
Moody’s | Caa3 | |||||||||||||||||||||||
S&P | A | |||||||||||||||||||||||
Seniority | Senior | |||||||||||||||||||||||
Discount rate | LIBOR + 6.35% | |||||||||||||||||||||||
Credit Yield Analysis Method | ||||||||||||||||||||||||
Credit discount rate | LIBOR + 4.00% | |||||||||||||||||||||||
Average observed discounts based on closed transactions | 14.00% | |||||||||||||||||||||||
Roll-forward of credit related impairment recognized in earnings | ' | |||||||||||||||||||||||
The following table provides a roll-forward of credit related impairment recognized in earnings for the: | ||||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Balance at beginning of period | $ | 282 | $ | 282 | $ | 282 | $ | — | ||||||||||||||||
Additions to credit losses for which no previous OTTI was recognized | — | — | — | 282 | ||||||||||||||||||||
Balance at end of period | $ | 282 | $ | 282 | $ | 282 | $ | 282 | ||||||||||||||||
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||
Summary of changes in the ALLL and the recorded investment in loans by segments | ' | |||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
July 1, 2012 | $ | 6,008 | $ | 433 | $ | 3,669 | $ | 667 | $ | 1,541 | $ | 12,318 | ||||||||||||||||||
Loans charged-off | (271 | ) | — | (213 | ) | (127 | ) | — | (611 | ) | ||||||||||||||||||||
Recoveries | 40 | — | 34 | 81 | — | 155 | ||||||||||||||||||||||||
Provision for loan losses | 1,132 | 6 | (356 | ) | 91 | (673 | ) | 200 | ||||||||||||||||||||||
September 30, 2012 | $ | 6,909 | $ | 439 | $ | 3,134 | $ | 712 | $ | 868 | $ | 12,062 | ||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
January 1, 2012 | $ | 6,284 | $ | 1,003 | $ | 2,980 | $ | 633 | $ | 1,475 | $ | 12,375 | ||||||||||||||||||
Loans charged-off | (957 | ) | — | (566 | ) | (364 | ) | — | (1,887 | ) | ||||||||||||||||||||
Recoveries | 168 | — | 95 | 211 | — | 474 | ||||||||||||||||||||||||
Provision for loan losses | 1,414 | (564 | ) | 625 | 232 | (607 | ) | 1,100 | ||||||||||||||||||||||
September 30, 2012 | $ | 6,909 | $ | 439 | $ | 3,134 | $ | 712 | $ | 868 | $ | 12,062 | ||||||||||||||||||
A summary of changes in the ALLL and the recorded investment in loans by segments follows: | ||||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
July 1, 2013 | $ | 6,472 | $ | 335 | $ | 3,676 | $ | 647 | $ | 570 | $ | 11,700 | ||||||||||||||||||
Loans charged-off | (394 | ) | (12 | ) | (94 | ) | (102 | ) | — | (602 | ) | |||||||||||||||||||
Recoveries | 66 | — | 38 | 47 | — | 151 | ||||||||||||||||||||||||
Provision for loan losses | 69 | 108 | 127 | 74 | (27 | ) | 351 | |||||||||||||||||||||||
September 30, 2013 | $ | 6,213 | $ | 431 | $ | 3,747 | $ | 666 | $ | 543 | $ | 11,600 | ||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
January 1, 2013 | $ | 6,862 | $ | 407 | $ | 3,627 | $ | 666 | $ | 374 | $ | 11,936 | ||||||||||||||||||
Loans charged-off | (839 | ) | (12 | ) | (681 | ) | (311 | ) | — | (1,843 | ) | |||||||||||||||||||
Recoveries | 289 | — | 152 | 200 | — | 641 | ||||||||||||||||||||||||
Provision for loan losses | (99 | ) | 36 | 649 | 111 | 169 | 866 | |||||||||||||||||||||||
September 30, 2013 | $ | 6,213 | $ | 431 | $ | 3,747 | $ | 666 | $ | 543 | $ | 11,600 | ||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans | ' | |||||||||||||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans | ||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
ALLL | ||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,050 | $ | 91 | $ | 1,796 | $ | — | $ | — | $ | 3,937 | ||||||||||||||||||
Collectively evaluated for impairment | 4,812 | 316 | 1,831 | 666 | 374 | 7,999 | ||||||||||||||||||||||||
Total | $ | 6,862 | $ | 407 | $ | 3,627 | $ | 666 | $ | 374 | $ | 11,936 | ||||||||||||||||||
Loans | ||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 14,456 | $ | 723 | $ | 10,704 | $ | 75 | $ | 25,958 | ||||||||||||||||||||
Collectively evaluated for impairment | 357,049 | 82,883 | 273,444 | 33,419 | 746,795 | |||||||||||||||||||||||||
Total | $ | 371,505 | $ | 83,606 | $ | 284,148 | $ | 33,494 | $ | 772,753 | ||||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | Residential Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||||
ALLL | ||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,080 | $ | 31 | $ | 1,890 | $ | — | $ | — | $ | 4,001 | ||||||||||||||||||
Collectively evaluated for impairment | 4,133 | 400 | 1,857 | 666 | 543 | 7,599 | ||||||||||||||||||||||||
Total | $ | 6,213 | $ | 431 | $ | 3,747 | $ | 666 | $ | 543 | $ | 11,600 | ||||||||||||||||||
Loans | ||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 12,155 | $ | 787 | $ | 11,514 | $ | 65 | $ | 24,521 | ||||||||||||||||||||
Collectively evaluated for impairment | 376,818 | 92,140 | 280,311 | 34,059 | 783,328 | |||||||||||||||||||||||||
Total | $ | 388,973 | $ | 92,927 | $ | 291,825 | $ | 34,124 | $ | 807,849 | ||||||||||||||||||||
Credit quality indicators for commercial and agricultural credit exposures | ' | |||||||||||||||||||||||||||||
The following table displays the credit quality indicators for commercial and agricultural credit exposures based on internally assigned credit ratings as of: | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | |||||||||||||||||||||||||||||
Real Estate | Other | Total | Real Estate | Other | Total | |||||||||||||||||||||||||
Rating | ||||||||||||||||||||||||||||||
2 - High quality | $ | 21,334 | $ | 15,823 | $ | 37,157 | $ | 3,665 | $ | 3,005 | $ | 6,670 | ||||||||||||||||||
3 - High satisfactory | 89,630 | 40,464 | 130,094 | 26,679 | 16,958 | 43,637 | ||||||||||||||||||||||||
4 - Low satisfactory | 141,646 | 45,022 | 186,668 | 25,564 | 11,672 | 37,236 | ||||||||||||||||||||||||
5 - Special mention | 13,246 | 1,256 | 14,502 | 1,917 | 1,027 | 2,944 | ||||||||||||||||||||||||
6 - Substandard | 17,532 | 1,497 | 19,029 | 805 | 1,387 | 2,192 | ||||||||||||||||||||||||
7 - Vulnerable | 1,085 | 186 | 1,271 | — | 248 | 248 | ||||||||||||||||||||||||
8 - Doubtful | 234 | 18 | 252 | — | — | — | ||||||||||||||||||||||||
Total | $ | 284,707 | $ | 104,266 | $ | 388,973 | $ | 58,630 | $ | 34,297 | $ | 92,927 | ||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Commercial | Agricultural | |||||||||||||||||||||||||||||
Real Estate | Other | Total | Real Estate | Other | Total | |||||||||||||||||||||||||
Rating | ||||||||||||||||||||||||||||||
2 - High quality | $ | 25,209 | $ | 15,536 | $ | 40,745 | $ | 2,955 | $ | 2,313 | $ | 5,268 | ||||||||||||||||||
3 - High satisfactory | 83,805 | 28,974 | 112,779 | 16,972 | 11,886 | 28,858 | ||||||||||||||||||||||||
4 - Low satisfactory | 127,423 | 45,143 | 172,566 | 27,291 | 15,437 | 42,728 | ||||||||||||||||||||||||
5 - Special mention | 16,046 | 1,692 | 17,738 | 1,008 | 3,191 | 4,199 | ||||||||||||||||||||||||
6 - Substandard | 20,029 | 2,224 | 22,253 | 1,167 | 1,217 | 2,384 | ||||||||||||||||||||||||
7 - Vulnerable | 1,512 | 2,294 | 3,806 | — | — | — | ||||||||||||||||||||||||
8 - Doubtful | 1,596 | 22 | 1,618 | — | 169 | 169 | ||||||||||||||||||||||||
Total | $ | 275,620 | $ | 95,885 | $ | 371,505 | $ | 49,393 | $ | 34,213 | $ | 83,606 | ||||||||||||||||||
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | |||||||||||||||||||||||||||||
The following tables summarize the past due and current loans as of: | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Accruing Interest | Total Past Due and Nonaccrual | |||||||||||||||||||||||||||||
and Past Due: | ||||||||||||||||||||||||||||||
30-59 | 60-89 | 90 Days | Nonaccrual | Current | Total | |||||||||||||||||||||||||
Days | Days | or More | ||||||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 343 | $ | 889 | $ | 167 | $ | 1,266 | $ | 2,665 | $ | 282,042 | $ | 284,707 | ||||||||||||||||
Commercial other | 867 | 32 | — | 239 | 1,138 | 103,128 | 104,266 | |||||||||||||||||||||||
Total commercial | 1,210 | 921 | 167 | 1,505 | 3,803 | 385,170 | 388,973 | |||||||||||||||||||||||
Agricultural | ||||||||||||||||||||||||||||||
Agricultural real estate | 642 | — | — | — | 642 | 57,988 | 58,630 | |||||||||||||||||||||||
Agricultural other | 214 | 450 | — | 262 | 926 | 33,371 | 34,297 | |||||||||||||||||||||||
Total agricultural | 856 | 450 | — | 262 | 1,568 | 91,359 | 92,927 | |||||||||||||||||||||||
Residential real estate | ||||||||||||||||||||||||||||||
Senior liens | 2,549 | 898 | 290 | 1,957 | 5,694 | 232,710 | 238,404 | |||||||||||||||||||||||
Junior liens | 166 | — | — | 68 | 234 | 13,649 | 13,883 | |||||||||||||||||||||||
Home equity lines of credit | 347 | 64 | — | — | 411 | 39,127 | 39,538 | |||||||||||||||||||||||
Total residential real estate | 3,062 | 962 | 290 | 2,025 | 6,339 | 285,486 | 291,825 | |||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||
Secured | 115 | 1 | — | — | 116 | 29,190 | 29,306 | |||||||||||||||||||||||
Unsecured | 6 | 10 | — | 20 | 36 | 4,782 | 4,818 | |||||||||||||||||||||||
Total consumer | 121 | 11 | — | 20 | 152 | 33,972 | 34,124 | |||||||||||||||||||||||
Total | $ | 5,249 | $ | 2,344 | $ | 457 | $ | 3,812 | $ | 11,862 | $ | 795,987 | $ | 807,849 | ||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Accruing Interest | Total Past Due and Nonaccrual | |||||||||||||||||||||||||||||
and Past Due: | ||||||||||||||||||||||||||||||
30-59 | 60-89 | 90 Days | Nonaccrual | Current | Total | |||||||||||||||||||||||||
Days | Days | or More | ||||||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,304 | $ | 161 | $ | 63 | $ | 2,544 | $ | 4,072 | $ | 271,548 | $ | 275,620 | ||||||||||||||||
Commercial other | 606 | — | 40 | 2,294 | 2,940 | 92,945 | 95,885 | |||||||||||||||||||||||
Total commercial | 1,910 | 161 | 103 | 4,838 | 7,012 | 364,493 | 371,505 | |||||||||||||||||||||||
Agricultural | ||||||||||||||||||||||||||||||
Agricultural real estate | — | — | — | — | — | 49,393 | 49,393 | |||||||||||||||||||||||
Agricultural other | 90 | — | — | 169 | 259 | 33,954 | 34,213 | |||||||||||||||||||||||
Total agricultural | 90 | — | — | 169 | 259 | 83,347 | 83,606 | |||||||||||||||||||||||
Residential real estate | ||||||||||||||||||||||||||||||
Senior liens | 2,000 | 346 | 320 | 2,064 | 4,730 | 223,532 | 228,262 | |||||||||||||||||||||||
Junior liens | 232 | — | — | 50 | 282 | 16,207 | 16,489 | |||||||||||||||||||||||
Home equity lines of credit | 237 | — | — | 182 | 419 | 38,978 | 39,397 | |||||||||||||||||||||||
Total residential real estate | 2,469 | 346 | 320 | 2,296 | 5,431 | 278,717 | 284,148 | |||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||
Secured | 127 | 33 | 4 | — | 164 | 28,118 | 28,282 | |||||||||||||||||||||||
Unsecured | 31 | 3 | 1 | — | 35 | 5,177 | 5,212 | |||||||||||||||||||||||
Total consumer | 158 | 36 | 5 | — | 199 | 33,295 | 33,494 | |||||||||||||||||||||||
Total | $ | 4,627 | $ | 543 | $ | 428 | $ | 7,303 | $ | 12,901 | $ | 759,852 | $ | 772,753 | ||||||||||||||||
Information pertaining to impaired loans | ' | |||||||||||||||||||||||||||||
The following is a summary of information pertaining to impaired loans as of, and for the periods ended: | ||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||
Outstanding Balance | Unpaid Principal Balance | Valuation Allowance | Outstanding Balance | Unpaid Principal Balance | Valuation Allowance | |||||||||||||||||||||||||
Impaired loans with a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 6,023 | $ | 6,161 | $ | 1,818 | $ | 7,295 | $ | 7,536 | $ | 1,653 | ||||||||||||||||||
Commercial other | 658 | 658 | 262 | 2,140 | 2,140 | 397 | ||||||||||||||||||||||||
Agricultural real estate | 90 | 90 | 31 | 91 | 91 | 32 | ||||||||||||||||||||||||
Agricultural other | — | — | — | 420 | 420 | 59 | ||||||||||||||||||||||||
Residential real estate senior liens | 11,254 | 12,525 | 1,873 | 10,450 | 11,672 | 1,783 | ||||||||||||||||||||||||
Residential real estate junior liens | 88 | 135 | 17 | 72 | 118 | 13 | ||||||||||||||||||||||||
Total impaired loans with a valuation allowance | $ | 18,113 | $ | 19,569 | $ | 4,001 | $ | 20,468 | $ | 21,977 | $ | 3,937 | ||||||||||||||||||
Impaired loans without a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 4,656 | $ | 5,494 | $ | 3,749 | $ | 4,408 | ||||||||||||||||||||||
Commercial other | 818 | 928 | 1,272 | 1,433 | ||||||||||||||||||||||||||
Agricultural real estate | 329 | 329 | — | — | ||||||||||||||||||||||||||
Agricultural other | 368 | 488 | 212 | 332 | ||||||||||||||||||||||||||
Home equity lines of credit | 172 | 472 | 182 | 482 | ||||||||||||||||||||||||||
Consumer secured | 65 | 72 | 75 | 84 | ||||||||||||||||||||||||||
Total impaired loans without a valuation allowance | $ | 6,408 | $ | 7,783 | $ | 5,490 | $ | 6,739 | ||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||
Commercial | $ | 12,155 | $ | 13,241 | $ | 2,080 | $ | 14,456 | $ | 15,517 | $ | 2,050 | ||||||||||||||||||
Agricultural | 787 | 907 | 31 | 723 | 843 | 91 | ||||||||||||||||||||||||
Residential real estate | 11,514 | 13,132 | 1,890 | 10,704 | 12,272 | 1,796 | ||||||||||||||||||||||||
Consumer | 65 | 72 | — | 75 | 84 | — | ||||||||||||||||||||||||
Total impaired loans | $ | 24,521 | $ | 27,352 | $ | 4,001 | $ | 25,958 | $ | 28,716 | $ | 3,937 | ||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | |||||||||||||||||||||||||||||
Average Outstanding Balance | Interest Income Recognized | Average Outstanding Balance | Interest Income Recognized | |||||||||||||||||||||||||||
Impaired loans with a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 6,471 | $ | 157 | $ | 7,546 | $ | 378 | ||||||||||||||||||||||
Commercial other | 1,063 | 29 | 976 | 67 | ||||||||||||||||||||||||||
Agricultural real estate | 91 | 2 | 91 | 4 | ||||||||||||||||||||||||||
Agricultural other | — | — | 70 | — | ||||||||||||||||||||||||||
Residential real estate senior liens | 10,865 | 230 | 10,595 | 439 | ||||||||||||||||||||||||||
Residential real estate junior liens | 80 | 4 | 84 | 5 | ||||||||||||||||||||||||||
Total impaired loans with a valuation allowance | $ | 18,570 | $ | 422 | $ | 19,362 | $ | 893 | ||||||||||||||||||||||
Impaired loans without a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 4,531 | $ | 169 | $ | 4,037 | $ | 327 | ||||||||||||||||||||||
Commercial other | 833 | 29 | 1,029 | 88 | ||||||||||||||||||||||||||
Agricultural real estate | 231 | 15 | 144 | 19 | ||||||||||||||||||||||||||
Agricultural other | 361 | 2 | 402 | (2 | ) | |||||||||||||||||||||||||
Home equity lines of credit | 173 | 8 | 178 | 17 | ||||||||||||||||||||||||||
Consumer secured | 60 | 1 | 66 | 3 | ||||||||||||||||||||||||||
Total impaired loans without a valuation allowance | $ | 6,189 | $ | 224 | $ | 5,856 | $ | 452 | ||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||
Commercial | $ | 12,898 | $ | 384 | $ | 13,588 | $ | 860 | ||||||||||||||||||||||
Agricultural | 683 | 19 | 707 | 21 | ||||||||||||||||||||||||||
Residential real estate | 11,118 | 242 | 10,857 | 461 | ||||||||||||||||||||||||||
Consumer | 60 | 1 | 66 | 3 | ||||||||||||||||||||||||||
Total impaired loans | $ | 24,759 | $ | 646 | $ | 25,218 | $ | 1,345 | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||
September 30, 2012 | September 30, 2012 | |||||||||||||||||||||||||||||
Average Outstanding Balance | Interest Income Recognized | Average Outstanding Balance | Interest Income Recognized | |||||||||||||||||||||||||||
Impaired loans with a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 6,260 | $ | 106 | $ | 6,197 | $ | 287 | ||||||||||||||||||||||
Commercial other | 1,996 | 67 | 1,183 | 95 | ||||||||||||||||||||||||||
Agricultural real estate | — | — | — | — | ||||||||||||||||||||||||||
Agricultural other | 1,023 | — | 1,878 | 73 | ||||||||||||||||||||||||||
Residential real estate senior liens | 7,994 | 88 | 7,803 | 263 | ||||||||||||||||||||||||||
Residential real estate junior liens | 158 | 3 | 174 | 7 | ||||||||||||||||||||||||||
Total impaired loans with a valuation allowance | $ | 17,431 | $ | 264 | $ | 17,235 | $ | 725 | ||||||||||||||||||||||
Impaired loans without a valuation allowance | ||||||||||||||||||||||||||||||
Commercial real estate | $ | 5,651 | $ | 72 | $ | 6,749 | $ | 251 | ||||||||||||||||||||||
Commercial other | 2,026 | 15 | 1,860 | 80 | ||||||||||||||||||||||||||
Agricultural real estate | 179 | — | 214 | — | ||||||||||||||||||||||||||
Agricultural other | 1,417 | 34 | 869 | 41 | ||||||||||||||||||||||||||
Home equity lines of credit | 188 | 6 | 194 | 14 | ||||||||||||||||||||||||||
Consumer secured | 81 | 2 | 90 | 5 | ||||||||||||||||||||||||||
Total impaired loans without a valuation allowance | $ | 9,542 | $ | 129 | $ | 9,976 | $ | 391 | ||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||
Commercial | $ | 15,933 | $ | 260 | $ | 15,989 | $ | 713 | ||||||||||||||||||||||
Agricultural | 2,619 | 34 | 2,961 | 114 | ||||||||||||||||||||||||||
Residential real estate | 8,340 | 97 | 8,171 | 284 | ||||||||||||||||||||||||||
Consumer | 81 | 2 | 90 | 5 | ||||||||||||||||||||||||||
Total impaired loans | $ | 26,973 | $ | 393 | $ | 27,211 | $ | 1,116 | ||||||||||||||||||||||
Information pertaining to TDR's | ' | |||||||||||||||||||||||||||||
The following is a summary of information pertaining to TDRs granted in the periods ended: | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
Number of Loans | Pre-Modification Recorded Investment | Post-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Post-Modification Recorded Investment | |||||||||||||||||||||||||
Commercial other | 3 | $ | 159 | $ | 159 | 10 | $ | 3,313 | $ | 3,116 | ||||||||||||||||||||
Agricultural other | 1 | 198 | 198 | 2 | 332 | 332 | ||||||||||||||||||||||||
Residential real estate senior liens | 15 | 1,176 | 1,176 | 30 | 2,611 | 2,595 | ||||||||||||||||||||||||
Residential real estate junior liens | 1 | 20 | 20 | 1 | 20 | 20 | ||||||||||||||||||||||||
Consumer unsecured | 2 | 34 | 34 | 2 | 34 | 34 | ||||||||||||||||||||||||
Total | 22 | $ | 1,587 | $ | 1,587 | 45 | $ | 6,310 | $ | 6,097 | ||||||||||||||||||||
Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
Number of Loans | Pre-Modification Recorded Investment | Post-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Post-Modification Recorded Investment | |||||||||||||||||||||||||
Commercial other | 1 | $ | 178 | $ | 178 | 27 | $ | 5,069 | $ | 5,069 | ||||||||||||||||||||
Agricultural other | — | — | — | 6 | 561 | 561 | ||||||||||||||||||||||||
Residential real estate senior liens | — | — | — | 12 | 1,405 | 1,405 | ||||||||||||||||||||||||
Residential real estate junior liens | 1 | 22 | 22 | 1 | 22 | 22 | ||||||||||||||||||||||||
Total | 2 | $ | 200 | $ | 200 | 46 | $ | 7,057 | $ | 7,057 | ||||||||||||||||||||
Three Months Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||
Below Market Interest Rate | Below Market Interest Rate and Extension of Amortization Period | Below Market Interest Rate | Below Market Interest Rate and Extension of Amortization Period | |||||||||||||||||||||||||||
Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | |||||||||||||||||||||||
Commercial other | 3 | $ | 159 | — | $ | — | 6 | $ | 1,517 | 4 | $ | 1,796 | ||||||||||||||||||
Agricultural other | 1 | 198 | — | — | 2 | 332 | — | — | ||||||||||||||||||||||
Residential real estate senior liens | 10 | 924 | 5 | 252 | 17 | 1,548 | 13 | 1,063 | ||||||||||||||||||||||
Residential real estate junior liens | — | — | 1 | 20 | — | — | 1 | 20 | ||||||||||||||||||||||
Consumer unsecured | 1 | 16 | 1 | 18 | 1 | 16 | 1 | 18 | ||||||||||||||||||||||
Total | 15 | $ | 1,297 | 7 | $ | 290 | 26 | $ | 3,413 | 19 | $ | 2,897 | ||||||||||||||||||
Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
Below Market Interest Rate | Below Market Interest Rate and Extension of Amortization Period | Below Market Interest Rate | Below Market Interest Rate and Extension of Amortization Period | |||||||||||||||||||||||||||
Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | Number of Loans | Pre-Modification Recorded Investment | |||||||||||||||||||||||
Commercial other | 1 | $ | 178 | — | $ | — | 25 | $ | 4,924 | 2 | $ | 145 | ||||||||||||||||||
Agricultural other | — | — | — | — | 6 | 561 | — | — | ||||||||||||||||||||||
Residential real estate senior liens | — | — | — | — | 4 | 324 | 8 | 1,081 | ||||||||||||||||||||||
Residential real estate junior liens | — | — | 1 | 22 | — | — | 1 | 22 | ||||||||||||||||||||||
Total | 1 | $ | 178 | 1 | $ | 22 | 35 | $ | 5,809 | 11 | $ | 1,248 | ||||||||||||||||||
Summary of defaulted loans | ' | |||||||||||||||||||||||||||||
Following is a summary of loans that defaulted in the three and nine month periods ended September 30, 2012, which were modified within 12 months prior to the default date: | ||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||
Number of Loans | Pre- | Charge-Off | Post- | Number of Loans | Pre- | Charge-Off | Post- | |||||||||||||||||||||||
Default | Recorded | Default | Default | Recorded | Default | |||||||||||||||||||||||||
Recorded | Upon | Recorded | Recorded | Upon | Recorded | |||||||||||||||||||||||||
Investment | Default | Investment | Investment | Default | Investment | |||||||||||||||||||||||||
Commercial other | 2 | $ | 50 | $ | 25 | $ | 25 | 3 | $ | 132 | $ | 66 | $ | 66 | ||||||||||||||||
Residential real estate senior liens | — | — | — | — | 1 | 47 | 43 | 4 | ||||||||||||||||||||||
Consumer secured | 1 | 8 | 8 | — | 1 | 8 | 8 | — | ||||||||||||||||||||||
Total | 3 | $ | 58 | $ | 33 | $ | 25 | 5 | $ | 187 | $ | 117 | $ | 70 | ||||||||||||||||
Summary of TDR loan balances | ' | |||||||||||||||||||||||||||||
The following is a summary of TDR loan balances as of: | ||||||||||||||||||||||||||||||
September 30 | December 31 | |||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
TDRs | $ | 20,337 | $ | 19,355 | ||||||||||||||||||||||||||
Equity_Securities_Without_Read1
Equity Securities Without Readily Determinable Fair Values (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||
Schedule of equity securities without fair values | ' | |||||||
Equity securities without readily determinable fair values consist of the following as of: | ||||||||
September 30 | December 31 | |||||||
2013 | 2012 | |||||||
FHLB Stock | $ | 8,100 | $ | 7,850 | ||||
Corporate Settlement Solutions, LLC | 7,030 | 7,040 | ||||||
FRB Stock | 1,879 | 1,879 | ||||||
Valley Financial Corporation | 1,000 | 1,000 | ||||||
Other | 344 | 349 | ||||||
Total | $ | 18,353 | $ | 18,118 | ||||
Borrowed_Funds_Tables
Borrowed Funds (Tables) | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||||||||
Summary of borrowed funds | ' | |||||||||||||||||||||
Borrowed funds consist of the following obligations as of: | ||||||||||||||||||||||
September 30 | December 31 | |||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Amount | Rate | Amount | Rate | |||||||||||||||||||
FHLB advances | $ | 162,000 | 2.02 | % | $ | 152,000 | 2.05 | % | ||||||||||||||
Securities sold under agreements to repurchase without stated maturity dates | 81,405 | 0.15 | % | 66,147 | 0.15 | % | ||||||||||||||||
Securities sold under agreements to repurchase with stated maturity dates | 16,296 | 3.57 | % | 16,284 | 3.57 | % | ||||||||||||||||
Federal funds purchased | 6,300 | 0.5 | % | 6,570 | 0.5 | % | ||||||||||||||||
Total | $ | 266,001 | 1.51 | % | $ | 241,001 | 1.59 | % | ||||||||||||||
Schedule of maturity and weighted average interest rates of FHLB advances | ' | |||||||||||||||||||||
The following table lists the maturity and weighted average interest rates of FHLB advances as of: | ||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||
Amount | Rate | Amount | Rate | |||||||||||||||||||
Fixed rate advances due 2014 | $ | 10,000 | 0.48 | % | $ | 10,000 | 0.48 | % | ||||||||||||||
Fixed rate advances due 2015 | 32,000 | 0.84 | % | 42,000 | 1.12 | % | ||||||||||||||||
Fixed rate advances due 2016 | 10,000 | 2.15 | % | 10,000 | 2.15 | % | ||||||||||||||||
Fixed rate advances due 2017 | 30,000 | 1.95 | % | 40,000 | 2.15 | % | ||||||||||||||||
Fixed rate advances due 2018 | 40,000 | 2.35 | % | 20,000 | 2.86 | % | ||||||||||||||||
Fixed rate advances due 2019 | 20,000 | 3.11 | % | 20,000 | 3.73 | % | ||||||||||||||||
Fixed rate advances due 2020 | 10,000 | 1.98 | % | 10,000 | 1.98 | % | ||||||||||||||||
Fixed rate advances due 2023 | 10,000 | 3.9 | % | — | — | % | ||||||||||||||||
Total | $ | 162,000 | 2.02 | % | $ | 152,000 | 2.05 | % | ||||||||||||||
Summary of short term borrowings | ' | |||||||||||||||||||||
The following table provides a summary of short-term borrowings for the three and nine month periods ended: | ||||||||||||||||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | |||||||||||||||||||||
Maximum Month End Balance | Average Balance | Weighted Average Interest Rate During the Period | Maximum Month End Balance | Average Balance | Weighted Average Interest Rate During the Period | |||||||||||||||||
Securities sold under agreements to repurchase without stated maturity dates | $ | 81,405 | $ | 78,148 | 0.15 | % | $ | 58,471 | $ | 57,983 | 0.2 | % | ||||||||||
Federal funds purchased | 6,300 | 5,052 | 0.62 | % | 15,000 | 5,848 | 0.46 | % | ||||||||||||||
Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||
Maximum Month End Balance | Average Balance | Weighted Average Interest Rate During the Period | Maximum Month End Balance | Average Balance | Weighted Average Interest Rate During the Period | |||||||||||||||||
Securities sold under agreements to repurchase without stated maturity dates | $ | 81,405 | $ | 69,224 | 0.15 | % | $ | 58,584 | $ | 55,721 | 0.2 | % | ||||||||||
Federal funds purchased | 13,700 | 4,133 | 0.57 | % | 17,900 | 4,327 | 0.41 | % | ||||||||||||||
Summary of pledged certificates of deposit | ' | |||||||||||||||||||||
We had pledged certificates of deposit held in other financial institutions, trading securities, AFS securities, and 1-4 family residential real estate loans in the following amounts at: | ||||||||||||||||||||||
September 30 | December 31 | |||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Pledged to secure borrowed funds | $ | 304,224 | $ | 308,628 | ||||||||||||||||||
Pledged to secure repurchase agreements | 139,082 | 143,322 | ||||||||||||||||||||
Pledged for public deposits and for other purposes necessary or required by law | 21,595 | 22,955 | ||||||||||||||||||||
Total | $ | 464,901 | $ | 474,905 | ||||||||||||||||||
Other_Noninterest_Expenses_Tab
Other Noninterest Expenses (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Other Income and Expenses [Abstract] | ' | |||||||||||||||
Summary of expenses included in other noninterest expenses | ' | |||||||||||||||
A summary of expenses included in other noninterest expenses are as follows for the: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30 | September 30 | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Marketing and community relations | $ | 271 | $ | 610 | $ | 945 | $ | 1,639 | ||||||||
FDIC insurance premiums | 267 | 218 | 812 | 646 | ||||||||||||
Directors fees | 203 | 235 | 607 | 654 | ||||||||||||
Audit and related fees | 189 | 179 | 490 | 509 | ||||||||||||
Education and travel | 110 | 112 | 348 | 378 | ||||||||||||
Loan underwriting fees | 97 | 89 | 336 | 272 | ||||||||||||
Postage and freight | 103 | 105 | 296 | 300 | ||||||||||||
Printing and supplies | 106 | 91 | 291 | 310 | ||||||||||||
Legal fees | 87 | 50 | 267 | 193 | ||||||||||||
Consulting fees | 68 | 92 | 223 | 350 | ||||||||||||
Other | 500 | 455 | 1,533 | 1,431 | ||||||||||||
Total other | $ | 2,001 | $ | 2,236 | $ | 6,148 | $ | 6,682 | ||||||||
Federal_Income_Taxes_Tables
Federal Income Taxes (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||||||||||
Summary of federal income tax expense | ' | |||||||||||||||||||||||
The reconciliation of the provision for federal income taxes and the amount computed at the federal statutory tax rate of 34% of income before federal income tax expense is as follows for the: | ||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
September 30 | September 30 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Income taxes at 34% statutory rate | $ | 1,347 | $ | 1,481 | $ | 3,903 | $ | 4,093 | ||||||||||||||||
Effect of nontaxable income | ||||||||||||||||||||||||
Interest income on tax exempt municipal securities | (411 | ) | (391 | ) | (1,212 | ) | (1,170 | ) | ||||||||||||||||
Earnings on corporate owned life insurance policies | (63 | ) | (58 | ) | (185 | ) | (176 | ) | ||||||||||||||||
Other | (217 | ) | (147 | ) | (667 | ) | (439 | ) | ||||||||||||||||
Total effect of nontaxable income | (691 | ) | (596 | ) | (2,064 | ) | (1,785 | ) | ||||||||||||||||
Effect of nondeductible expenses | 18 | 14 | 54 | 36 | ||||||||||||||||||||
Federal income tax expense | $ | 674 | $ | 899 | $ | 1,893 | $ | 2,344 | ||||||||||||||||
Summary of other comprehensive income (loss) | ' | |||||||||||||||||||||||
A summary of OCI follows for the: | ||||||||||||||||||||||||
Three Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Auction Rate Money Market Preferred and Preferred Stocks | All Other AFS Securities | Total | Auction Rate Money Market Preferred and Preferred Stocks | All Other AFS Securities | Total | |||||||||||||||||||
Unrealized gains (losses) arising during the period | $ | (653 | ) | $ | 1,318 | $ | 665 | $ | 630 | $ | 2,360 | $ | 2,990 | |||||||||||
Reclassification adjustment for net realized (gains) losses included in net income | — | (72 | ) | (72 | ) | — | (116 | ) | (116 | ) | ||||||||||||||
Reclassification adjustment for impairment loss included in net income | — | — | — | — | — | — | ||||||||||||||||||
Net unrealized gains (losses) | (653 | ) | 1,246 | 593 | 630 | 2,244 | 2,874 | |||||||||||||||||
Tax effect | — | (447 | ) | (447 | ) | — | (763 | ) | (763 | ) | ||||||||||||||
Unrealized gains (losses), net of tax | $ | (653 | ) | $ | 799 | $ | 146 | $ | 630 | $ | 1,481 | $ | 2,111 | |||||||||||
Nine Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Auction Rate Money Market Preferred and Preferred Stocks | All Other AFS Securities | Total | Auction Rate Money Market Preferred and Preferred Stocks | All Other AFS Securities | Total | |||||||||||||||||||
Unrealized gains (losses) arising during the period | $ | (358 | ) | $ | (12,935 | ) | $ | (13,293 | ) | $ | 2,049 | $ | 3,160 | $ | 5,209 | |||||||||
Reclassification adjustment for net realized (gains) losses included in net income | — | (171 | ) | (171 | ) | — | (1,119 | ) | (1,119 | ) | ||||||||||||||
Reclassification adjustment for impairment loss included in net income | — | — | — | — | 282 | 282 | ||||||||||||||||||
Net unrealized gains (losses) | (358 | ) | (13,106 | ) | (13,464 | ) | 2,049 | 2,323 | 4,372 | |||||||||||||||
Tax effect | — | 4,455 | 4,455 | — | (790 | ) | (790 | ) | ||||||||||||||||
Unrealized gains (losses), net of tax | $ | (358 | ) | $ | (8,651 | ) | $ | (9,009 | ) | $ | 2,049 | $ | 1,533 | $ | 3,582 | |||||||||
Defined_Benefit_Pension_Plan_T
Defined Benefit Pension Plan (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||
Components of net periodic benefit cost | ' | |||||||||||||||
Following are the components of net periodic benefit cost for the three and nine month periods ended: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30 | September 30 | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest cost on PBO | $ | 113 | $ | 118 | $ | 338 | $ | 353 | ||||||||
Expected return on plan assets | (143 | ) | (127 | ) | (430 | ) | (381 | ) | ||||||||
Amortization of unrecognized actuarial net loss | 83 | 73 | 248 | 219 | ||||||||||||
Net periodic benefit cost | $ | 53 | $ | 64 | $ | 156 | $ | 191 | ||||||||
Fair_Value_Tables
Fair Value (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | |||||||||||||||||||||||||||||||
The table below lists the quantitative information about impaired loans measured utilizing Level 3 fair value measurements as of: | ||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Valuation Techniques | Fair Value | Unobservable Input | Range | |||||||||||||||||||||||||||||
Discounted cash flow | $9,452 | Duration of cash flows: | 5-120 Months | |||||||||||||||||||||||||||||
Reduction in interest rate from original loan terms: | 5.00% - 6.38% | |||||||||||||||||||||||||||||||
Discount applied to collateral appraisal: | ||||||||||||||||||||||||||||||||
Real Estate | 20% - 30% | |||||||||||||||||||||||||||||||
Equipment | 50% | |||||||||||||||||||||||||||||||
Discounted appraisal value | $11,068 | Livestock | 50% | |||||||||||||||||||||||||||||
Cash crop inventory | 50% | |||||||||||||||||||||||||||||||
Other inventory | 75% | |||||||||||||||||||||||||||||||
Accounts receivable | 75% | |||||||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Valuation Techniques | Fair Value | Unobservable Input | Range | |||||||||||||||||||||||||||||
Discounted cash flow | $8,726 | Duration of cash flows: | 14-120 Months | |||||||||||||||||||||||||||||
Reduction in interest rate from original loan terms: | 5.00% - 6.25% | |||||||||||||||||||||||||||||||
Discount applied to collateral appraisal: | ||||||||||||||||||||||||||||||||
Real Estate | 20% - 30% | |||||||||||||||||||||||||||||||
Equipment | 50% | |||||||||||||||||||||||||||||||
Discounted appraisal value | $13,295 | Livestock | 50% | |||||||||||||||||||||||||||||
Cash crop inventory | 50% | |||||||||||||||||||||||||||||||
Other inventory | 75% | |||||||||||||||||||||||||||||||
Accounts receivable | 75% | |||||||||||||||||||||||||||||||
Quantitative information related to foreclosed assets measured utilizing Level 3 fair value measurements | ' | |||||||||||||||||||||||||||||||
The table below lists the quantitative information related to foreclosed assets measured utilizing Level 3 fair value measurements as of: | ||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Valuation Techniques | Fair Value | Unobservable Input | Range | |||||||||||||||||||||||||||||
Discount applied to collateral appraisal: | ||||||||||||||||||||||||||||||||
Discounted appraisal value | $ | 1,186 | Real Estate | 20% - 30% | ||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||
Valuation Techniques | Fair Value | Unobservable Input | Range | |||||||||||||||||||||||||||||
Discount applied to collateral appraisal: | ||||||||||||||||||||||||||||||||
Discounted appraisal value | $ | 2,018 | Real Estate | 20% - 30% | ||||||||||||||||||||||||||||
Carrying amount and estimated fair value of financial instruments not recorded at fair value | ' | |||||||||||||||||||||||||||||||
The carrying amount and estimated fair value of financial instruments not recorded at fair value in their entirety on a recurring basis on our consolidated balance sheets are as follows as of: | ||||||||||||||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||||
Carrying | Estimated | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||||
Value | Fair Value | |||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 21,604 | $ | 21,604 | $ | 21,604 | $ | — | $ | — | ||||||||||||||||||||||
Certificates of deposit held in other financial institutions | 2,045 | 2,048 | — | 2,048 | — | |||||||||||||||||||||||||||
Mortgage loans AFS | 712 | 722 | — | 722 | — | |||||||||||||||||||||||||||
Total loans | 807,849 | 808,884 | — | — | 808,884 | |||||||||||||||||||||||||||
Less allowance for loan and lease losses | (11,600 | ) | (11,600 | ) | — | — | (11,600 | ) | ||||||||||||||||||||||||
Net loans | 796,249 | 797,284 | — | — | 797,284 | |||||||||||||||||||||||||||
Accrued interest receivable | 6,584 | 6,584 | 6,584 | — | — | |||||||||||||||||||||||||||
Equity securities without readily determinable fair values (1) | 18,353 | 18,353 | — | — | — | |||||||||||||||||||||||||||
OMSRs | 2,659 | 2,732 | — | 2,732 | — | |||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||
Deposits without stated maturities | 574,860 | 574,860 | 574,860 | — | — | |||||||||||||||||||||||||||
Deposits with stated maturities | 449,071 | 451,336 | — | 451,336 | — | |||||||||||||||||||||||||||
Borrowed funds | 266,001 | 268,637 | — | 268,637 | — | |||||||||||||||||||||||||||
Accrued interest payable | 713 | 713 | 713 | — | — | |||||||||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||||||||||
Carrying | Estimated | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||||||||||||
Value | Fair Value | |||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 24,920 | $ | 24,920 | $ | 24,920 | $ | — | $ | — | ||||||||||||||||||||||
Certificates of deposit held in other financial institutions | 4,465 | 4,475 | — | 4,475 | — | |||||||||||||||||||||||||||
Mortgage loans AFS | 3,633 | 3,680 | — | 3,680 | — | |||||||||||||||||||||||||||
Total loans | 772,753 | 784,964 | — | — | 784,964 | |||||||||||||||||||||||||||
Less allowance for loan and lease losses | (11,936 | ) | (11,936 | ) | — | — | (11,936 | ) | ||||||||||||||||||||||||
Net loans | 760,817 | 773,028 | — | — | 773,028 | |||||||||||||||||||||||||||
Accrued interest receivable | 5,227 | 5,227 | 5,227 | — | — | |||||||||||||||||||||||||||
Equity securities without readily determinable fair values (1) | 18,118 | 18,118 | — | — | — | |||||||||||||||||||||||||||
OMSRs | 2,285 | 2,285 | — | 2,285 | — | |||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||
Deposits without stated maturities | 553,332 | 553,332 | 553,332 | — | — | |||||||||||||||||||||||||||
Deposits with stated maturities | 464,335 | 472,630 | — | 472,630 | — | |||||||||||||||||||||||||||
Borrowed funds | 241,001 | 248,822 | — | 248,822 | — | |||||||||||||||||||||||||||
Accrued interest payable | 751 | 751 | 751 | — | — | |||||||||||||||||||||||||||
(1) | Due to the characteristics of equity securities without readily determinable fair values, they are not disclosed under a specific fair value hierarchy. If we were to record an impairment adjustment related to these securities, such amount would be classified as a nonrecurring Level 3 fair value adjustment. | |||||||||||||||||||||||||||||||
Assets and liabilities measured at fair value | ' | |||||||||||||||||||||||||||||||
The table below presents the recorded amount of assets and liabilities measured at fair value on: | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||
Recurring items | ||||||||||||||||||||||||||||||||
Trading securities | ||||||||||||||||||||||||||||||||
States and political subdivisions | $ | 745 | $ | — | $ | 745 | $ | — | $ | 1,573 | $ | — | $ | 1,573 | $ | — | ||||||||||||||||
AFS Securities | ||||||||||||||||||||||||||||||||
Government-sponsored enterprises | 24,155 | — | 24,155 | — | 25,776 | — | 25,776 | — | ||||||||||||||||||||||||
States and political subdivisions | 193,786 | — | 193,786 | — | 182,743 | — | 182,743 | — | ||||||||||||||||||||||||
Auction rate money market preferred | 2,639 | — | 2,639 | — | 2,778 | — | 2,778 | — | ||||||||||||||||||||||||
Preferred stocks | 6,144 | 6,144 | — | — | 6,363 | 6,363 | — | — | ||||||||||||||||||||||||
Mortgage-backed securities | 146,393 | — | 146,393 | — | 155,345 | — | 155,345 | — | ||||||||||||||||||||||||
Collateralized mortgage obligations | 127,940 | — | 127,940 | — | 131,005 | — | 131,005 | — | ||||||||||||||||||||||||
Total AFS Securities | 501,057 | 6,144 | 494,913 | — | 504,010 | 6,363 | 497,647 | — | ||||||||||||||||||||||||
Nonrecurring items | ||||||||||||||||||||||||||||||||
Impaired loans (net of the ALLL) | 20,520 | — | — | 20,520 | 22,021 | — | — | 22,021 | ||||||||||||||||||||||||
Foreclosed assets | 1,186 | — | — | 1,186 | 2,018 | — | — | 2,018 | ||||||||||||||||||||||||
$ | 523,508 | $ | 6,144 | $ | 495,658 | $ | 21,706 | $ | 529,622 | $ | 6,363 | $ | 499,220 | $ | 24,039 | |||||||||||||||||
Percent of assets and liabilities measured at fair value | 1.17 | % | 94.68 | % | 4.15 | % | 1.2 | % | 94.26 | % | 4.54 | % | ||||||||||||||||||||
Changes in fair value of assets and liabilities recorded at fair value | ' | |||||||||||||||||||||||||||||||
The following table provides a summary of the changes in fair value of assets and liabilities recorded at fair value through earnings on a recurring basis and changes in assets and liabilities recorded at fair value on a nonrecurring basis, for which gains or losses were recognized in the three and nine month periods ended: | ||||||||||||||||||||||||||||||||
Three Months Ended September 30 | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
Trading | Other Gains | Total | Trading | Other Gains | Total | |||||||||||||||||||||||||||
Losses | (Losses) | Losses | (Losses) | |||||||||||||||||||||||||||||
Recurring items | ||||||||||||||||||||||||||||||||
Trading securities | $ | (5 | ) | $ | — | $ | (5 | ) | $ | (9 | ) | $ | — | $ | (9 | ) | ||||||||||||||||
Borrowed funds | — | — | — | — | — | — | ||||||||||||||||||||||||||
Nonrecurring items | ||||||||||||||||||||||||||||||||
Foreclosed assets | — | (39 | ) | (39 | ) | — | — | — | ||||||||||||||||||||||||
Total | $ | (5 | ) | $ | (39 | ) | $ | (44 | ) | $ | (9 | ) | $ | — | $ | (9 | ) | |||||||||||||||
Nine Months Ended September 30 | ||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||
Trading | Other Gains | Total | Trading | Other Gains | Total | |||||||||||||||||||||||||||
Losses | (Losses) | Losses | (Losses) | |||||||||||||||||||||||||||||
Recurring items | ||||||||||||||||||||||||||||||||
Trading securities | $ | (23 | ) | $ | — | $ | (23 | ) | $ | (41 | ) | $ | — | $ | (41 | ) | ||||||||||||||||
Borrowed funds | — | — | — | — | 33 | 33 | ||||||||||||||||||||||||||
Nonrecurring items | ||||||||||||||||||||||||||||||||
Foreclosed assets | — | (131 | ) | (131 | ) | — | (17 | ) | (17 | ) | ||||||||||||||||||||||
Total | $ | (23 | ) | $ | (131 | ) | $ | (154 | ) | $ | (41 | ) | $ | 16 | $ | (25 | ) | |||||||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||||||||
Summary of the components of accumulated other comprehensive income | ' | |||||||||||||||||||||||
The following table summarizes the changes in AOCI by component for the: | ||||||||||||||||||||||||
Three Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Unrealized | Defined | Total | Unrealized | Defined | Total | |||||||||||||||||||
Holding Gains | Benefit | Holding Gains | Benefit | |||||||||||||||||||||
(Losses) on | Pension Plan | (Losses) on | Pension Plan | |||||||||||||||||||||
AFS | AFS | |||||||||||||||||||||||
Securities | Securities | |||||||||||||||||||||||
1-Jul-13 | $ | (477 | ) | $ | (3,671 | ) | $ | (4,148 | ) | $ | 7,413 | $ | (3,453 | ) | $ | 3,960 | ||||||||
OCI before reclassifications | 665 | — | 665 | 2,990 | — | 2,990 | ||||||||||||||||||
Amounts reclassified from AOCI | (72 | ) | — | (72 | ) | (116 | ) | — | (116 | ) | ||||||||||||||
Subtotal | 593 | — | 593 | 2,874 | — | 2,874 | ||||||||||||||||||
Tax effect | (447 | ) | — | (447 | ) | (763 | ) | — | (763 | ) | ||||||||||||||
OCI, net of tax | 146 | — | 146 | 2,111 | — | 2,111 | ||||||||||||||||||
30-Sep-13 | $ | (331 | ) | $ | (3,671 | ) | $ | (4,002 | ) | $ | 9,524 | $ | (3,453 | ) | $ | 6,071 | ||||||||
Nine Months Ended September 30 | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Unrealized | Defined | Total | Unrealized | Defined | Total | |||||||||||||||||||
Holding Gains | Benefit | Holding Gains | Benefit | |||||||||||||||||||||
(Losses) on | Pension Plan | (Losses) on | Pension Plan | |||||||||||||||||||||
AFS | AFS | |||||||||||||||||||||||
Securities | Securities | |||||||||||||||||||||||
1-Jan-13 | $ | 8,678 | $ | (3,671 | ) | $ | 5,007 | $ | 5,942 | $ | (3,453 | ) | $ | 2,489 | ||||||||||
OCI before reclassifications | (13,293 | ) | — | (13,293 | ) | 5,209 | — | 5,209 | ||||||||||||||||
Amounts reclassified from AOCI | (171 | ) | — | (171 | ) | (837 | ) | — | (837 | ) | ||||||||||||||
Subtotal | (13,464 | ) | — | (13,464 | ) | 4,372 | — | 4,372 | ||||||||||||||||
Tax effect | 4,455 | — | 4,455 | (790 | ) | — | (790 | ) | ||||||||||||||||
OCI, net of tax | (9,009 | ) | — | (9,009 | ) | 3,582 | — | 3,582 | ||||||||||||||||
30-Sep-13 | $ | (331 | ) | $ | (3,671 | ) | $ | (4,002 | ) | $ | 9,524 | $ | (3,453 | ) | $ | 6,071 | ||||||||
Details about accumulated other comprehensive income components | ' | |||||||||||||||||||||||
The following table details reclassification adjustments and the related affected line items on our interim condensed consolidated statements of income for the noted periods: | ||||||||||||||||||||||||
Details about AOCI components | Amount | Affected Line Item in the | ||||||||||||||||||||||
Reclassified from | Interim Condensed Consolidated | |||||||||||||||||||||||
AOCI | Statements of Income | |||||||||||||||||||||||
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Unrealized holding gains (losses) on AFS securities | ||||||||||||||||||||||||
$ | 72 | $ | 116 | $ | 171 | $ | 1,119 | Gain (loss) on sale of AFS securities | ||||||||||||||||
— | — | — | (282 | ) | Net AFS impairment loss | |||||||||||||||||||
72 | 116 | 171 | 837 | Income before federal income tax expense | ||||||||||||||||||||
24 | 39 | 58 | 285 | Federal income tax expense | ||||||||||||||||||||
$ | 48 | $ | 77 | $ | 113 | $ | 552 | Net income | ||||||||||||||||
Parent_Company_Only_Financial_1
Parent Company Only Financial Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||||
Interim Condensed Balance Sheets | ' | |||||||||||||||
Interim Condensed Balance Sheets | ||||||||||||||||
September 30 | December 31 | |||||||||||||||
2013 | 2012 | |||||||||||||||
ASSETS | ||||||||||||||||
Cash on deposit at the Bank | $ | 418 | $ | 332 | ||||||||||||
AFS Securities | 3,527 | 3,939 | ||||||||||||||
Investments in subsidiaries | 113,002 | 115,781 | ||||||||||||||
Premises and equipment | 2,045 | 2,041 | ||||||||||||||
Other assets | 52,454 | 52,398 | ||||||||||||||
TOTAL ASSETS | $ | 171,446 | $ | 174,491 | ||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||
Other liabilities | $ | 10,141 | $ | 10,002 | ||||||||||||
Shareholders' equity | 161,305 | 164,489 | ||||||||||||||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 171,446 | $ | 174,491 | ||||||||||||
Interim Condensed Statements of Income | ' | |||||||||||||||
Interim Condensed Statements of Income | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30 | September 30 | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Income | ||||||||||||||||
Dividends from subsidiaries | $ | 1,500 | $ | 1,500 | $ | 4,500 | $ | 4,625 | ||||||||
Interest income | 39 | 42 | 123 | 131 | ||||||||||||
Management fee and other | 637 | 581 | 1,704 | 1,547 | ||||||||||||
Total income | 2,176 | 2,123 | 6,327 | 6,303 | ||||||||||||
Expenses | ||||||||||||||||
Compensation and benefits | 680 | 596 | 2,061 | 1,810 | ||||||||||||
Occupancy and equipment | 132 | 91 | 362 | 273 | ||||||||||||
Audit and related fees | 98 | 98 | 256 | 273 | ||||||||||||
Other | 230 | 220 | 731 | 717 | ||||||||||||
Total expenses | 1,140 | 1,005 | 3,410 | 3,073 | ||||||||||||
Income before income tax benefit and equity in undistributed earnings of subsidiaries | 1,036 | 1,118 | 2,917 | 3,230 | ||||||||||||
Federal income tax benefit | 161 | 136 | 549 | 493 | ||||||||||||
Undistributed earnings of subsidiaries | 2,089 | 2,203 | 6,120 | 5,972 | ||||||||||||
Net income | $ | 3,286 | $ | 3,457 | $ | 9,586 | $ | 9,695 | ||||||||
Interim Condensed Statements of Cash Flows | ' | |||||||||||||||
Interim Condensed Statements of Cash Flows | ||||||||||||||||
Nine Months Ended | ||||||||||||||||
September 30 | ||||||||||||||||
2013 | 2012 | |||||||||||||||
OPERATING ACTIVITIES | ||||||||||||||||
Net income | $ | 9,586 | $ | 9,695 | ||||||||||||
Adjustments to reconcile net income to cash provided by operations | ||||||||||||||||
Undistributed earnings of subsidiaries | (6,120 | ) | (5,972 | ) | ||||||||||||
Undistributed earnings of equity securities without readily determinable fair values | 14 | — | ||||||||||||||
Share-based payment awards | 423 | 496 | ||||||||||||||
Depreciation | 136 | 84 | ||||||||||||||
Net amortization of AFS securities | 1 | 3 | ||||||||||||||
Changes in operating assets and liabilities which used cash | ||||||||||||||||
Other assets | (65 | ) | (363 | ) | ||||||||||||
Accrued interest and other liabilities | 939 | (224 | ) | |||||||||||||
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 4,914 | 3,719 | ||||||||||||||
INVESTING ACTIVITIES | ||||||||||||||||
Maturities, calls, and sales of AFS securities | 395 | 370 | ||||||||||||||
Purchases of equipment and premises | (140 | ) | (112 | ) | ||||||||||||
Advances to subsidiaries, net of repayments | (99 | ) | (50 | ) | ||||||||||||
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 156 | 208 | ||||||||||||||
FINANCING ACTIVITIES | ||||||||||||||||
Net increase (decrease) in borrowed funds | (800 | ) | (297 | ) | ||||||||||||
Cash dividends paid on common stock | (4,838 | ) | (4,553 | ) | ||||||||||||
Proceeds from the issuance of common stock | 2,754 | 2,025 | ||||||||||||||
Common stock repurchased | (1,815 | ) | (1,520 | ) | ||||||||||||
Common stock purchased for deferred compensation obligations | (285 | ) | (361 | ) | ||||||||||||
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | (4,984 | ) | (4,706 | ) | ||||||||||||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 86 | (779 | ) | |||||||||||||
Cash and cash equivalents at beginning of period | 332 | 1,474 | ||||||||||||||
Cash and cash equivalents at end of period | $ | 418 | $ | 695 | ||||||||||||
Computation_of_Earnings_Per_Sh2
Computation of Earnings Per Share (Schedule of Earnings Per Share) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Computation of earnings per share | ' | ' | ' | ' | ||||
Average number of common shares outstanding for basic calculation | 7,698,066 | 7,600,443 | 7,689,350 | 7,595,806 | ||||
Average potential effect of shares in the Directors Plan (1) | 170,420 | [1] | 206,233 | [1] | 168,020 | [1] | 203,250 | [1] |
Average number of common shares outstanding used to calculate diluted earnings per common share | 7,868,486 | 7,806,676 | 7,857,370 | 7,799,056 | ||||
Net income | $3,286 | $3,457 | $9,586 | $9,695 | ||||
Earnings per share | ' | ' | ' | ' | ||||
Basic | $0.43 | $0.45 | $1.25 | $1.28 | ||||
Diluted | $0.42 | $0.44 | $1.22 | $1.24 | ||||
[1] | Exclusive of shares held in the Rabbi Trust |
Trading_Securities_Trading_sec
Trading Securities (Trading securities, at fair value) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of trading securities, at fair value | ' | ' |
States and political subdivisions | $745 | $1,573 |
Trading_Securities_Narrative_D
Trading Securities (Narrative) (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Trading Securities (Textual) [Abstract] | ' | ' |
Trading Security | ($23) | ($41) |
Net unrealized trading losses | ($4) | ($13) |
AvailableforSale_Securities_Am
Available-for-Sale Securities (Amortized cost and fair value of AFS securities, with gross unrealized gains and losses) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Amortized cost and fair value of available-for-sale securities | ' | ' |
Amortized Cost | $500,931 | $490,420 |
Gross Unrealized Gains | 8,812 | 15,124 |
Gross Unrealized Losses | 8,686 | 1,534 |
Fair Value, Total | 501,057 | 504,010 |
Auction rate money market preferred [Member] | ' | ' |
Amortized cost and fair value of available-for-sale securities | ' | ' |
Amortized Cost | 3,200 | 3,200 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 561 | 422 |
Fair Value, Total | 2,639 | 2,778 |
Collateralized mortgage obligations [Member] | ' | ' |
Amortized cost and fair value of available-for-sale securities | ' | ' |
Amortized Cost | 128,073 | 128,378 |
Gross Unrealized Gains | 1,331 | 2,627 |
Gross Unrealized Losses | 1,464 | 0 |
Fair Value, Total | 127,940 | 131,005 |
Government sponsored enterprises [Member] | ' | ' |
Amortized cost and fair value of available-for-sale securities | ' | ' |
Amortized Cost | 24,985 | 25,668 |
Gross Unrealized Gains | 7 | 108 |
Gross Unrealized Losses | 837 | 0 |
Fair Value, Total | 24,155 | 25,776 |
States and political subdivisions [Member] | ' | ' |
Amortized cost and fair value of available-for-sale securities | ' | ' |
Amortized Cost | 189,998 | 174,118 |
Gross Unrealized Gains | 6,233 | 9,190 |
Gross Unrealized Losses | 2,445 | 565 |
Fair Value, Total | 193,786 | 182,743 |
Preferred stocks [Member] | ' | ' |
Amortized cost and fair value of available-for-sale securities | ' | ' |
Amortized Cost | 6,800 | 6,800 |
Gross Unrealized Gains | 2 | 0 |
Gross Unrealized Losses | 658 | 437 |
Fair Value, Total | 6,144 | 6,363 |
Mortgage-backed securities [Member] | ' | ' |
Amortized cost and fair value of available-for-sale securities | ' | ' |
Amortized Cost | 147,875 | 152,256 |
Gross Unrealized Gains | 1,239 | 3,199 |
Gross Unrealized Losses | 2,721 | 110 |
Fair Value, Total | $146,393 | $155,345 |
AvailableforSale_Securities_Am1
Available-for-Sale Securities (Amortized cost and fair value of AFS securities by contractual maturity) (Details) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Amortized cost and fair value of available-for-sale securities by contractual maturity | ' |
Maturing, Due in One Year or Less | $5,068 |
Maturing, After One Year But Within Five Years | 36,065 |
Maturing, After Five Years But Within Ten Years | 118,266 |
Maturing, After Ten Years | 55,584 |
Securities With Variable Monthly Payments or Noncontractual Maturities | 285,948 |
Total | 500,931 |
Maturing, Due in One Year or Less, Fair value | 5,237 |
Maturing, After One Year But Within Five Years, Fair value | 37,363 |
Maturing, After Five Years But Within Ten Years, Fair value | 120,324 |
Maturing, After Ten Years, Fair value | 55,017 |
Securities With Variable Monthly Payments or Noncontractual Maturities, Fair value | 283,116 |
Total, Fair value | 501,057 |
Auction rate money market preferred [Member] | ' |
Amortized cost and fair value of available-for-sale securities by contractual maturity | ' |
Maturing, Due in One Year or Less | 0 |
Maturing, After One Year But Within Five Years | 0 |
Maturing, After Five Years But Within Ten Years | 0 |
Maturing, After Ten Years | 0 |
Securities With Variable Monthly Payments or Noncontractual Maturities | 3,200 |
Total | 3,200 |
Collateralized mortgage obligations [Member] | ' |
Amortized cost and fair value of available-for-sale securities by contractual maturity | ' |
Maturing, Due in One Year or Less | 0 |
Maturing, After One Year But Within Five Years | 0 |
Maturing, After Five Years But Within Ten Years | 0 |
Maturing, After Ten Years | 0 |
Securities With Variable Monthly Payments or Noncontractual Maturities | 128,073 |
Total | 128,073 |
Government sponsored enterprises [Member] | ' |
Amortized cost and fair value of available-for-sale securities by contractual maturity | ' |
Maturing, Due in One Year or Less | 0 |
Maturing, After One Year But Within Five Years | 72 |
Maturing, After Five Years But Within Ten Years | 24,913 |
Maturing, After Ten Years | 0 |
Securities With Variable Monthly Payments or Noncontractual Maturities | 0 |
Total | 24,985 |
States and political subdivisions [Member] | ' |
Amortized cost and fair value of available-for-sale securities by contractual maturity | ' |
Maturing, Due in One Year or Less | 5,068 |
Maturing, After One Year But Within Five Years | 35,993 |
Maturing, After Five Years But Within Ten Years | 93,353 |
Maturing, After Ten Years | 55,584 |
Securities With Variable Monthly Payments or Noncontractual Maturities | 0 |
Total | 189,998 |
Preferred stocks [Member] | ' |
Amortized cost and fair value of available-for-sale securities by contractual maturity | ' |
Maturing, Due in One Year or Less | 0 |
Maturing, After One Year But Within Five Years | 0 |
Maturing, After Five Years But Within Ten Years | 0 |
Maturing, After Ten Years | 0 |
Securities With Variable Monthly Payments or Noncontractual Maturities | 6,800 |
Total | 6,800 |
Mortgage-backed securities [Member] | ' |
Amortized cost and fair value of available-for-sale securities by contractual maturity | ' |
Maturing, Due in One Year or Less | 0 |
Maturing, After One Year But Within Five Years | 0 |
Maturing, After Five Years But Within Ten Years | 0 |
Maturing, After Ten Years | 0 |
Securities With Variable Monthly Payments or Noncontractual Maturities | 147,875 |
Total | $147,875 |
AvailableforSale_Securities_Ac
Available-for-Sale Securities (Activity related to sales of AFS securities) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Summary of the activity related to sales of available-for-sale securities | ' | ' | ' | ' |
Proceeds from sales of AFS of securities | $6,372 | $16,436 | $16,229 | $40,677 |
Gross realized gains (losses) | 72 | 116 | 171 | 1,119 |
Applicable income tax expense | $24 | $39 | $58 | $380 |
AvailableforSale_Securities_AF
Available-for-Sale Securities (AFS securities with gross unrealized losses) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Securities | Securities |
Available-for-sale securities with gross unrealized losses | ' | ' |
Gross Unrealized Losses, Less Than Twelve Months | $6,974 | $190 |
Fair Value, Less Than Twelve Months | 196,328 | 30,518 |
Gross Unrealized Losses, Twelve Months or More | 1,712 | 1,344 |
Fair Value, Twelve Months or More | 7,849 | 8,493 |
Total Unrealized Losses | 8,686 | 1,534 |
Number of Securities in an unrealized loss position, Less Than Twelve Months, Fair Value | 154 | 15 |
Number of Securities in an unrealized loss position, Twelve Months or More, Fair Value | 6 | 6 |
Number of Securities in an unrealized loss position, Total Unrealized Losses | 160 | 21 |
Auction rate money market preferred [Member] | ' | ' |
Available-for-sale securities with gross unrealized losses | ' | ' |
Gross Unrealized Losses, Less Than Twelve Months | 0 | 0 |
Fair Value, Less Than Twelve Months | 0 | 0 |
Gross Unrealized Losses, Twelve Months or More | 561 | 422 |
Fair Value, Twelve Months or More | 2,639 | 2,778 |
Total Unrealized Losses | 561 | 422 |
Collateralized mortgage obligations [Member] | ' | ' |
Available-for-sale securities with gross unrealized losses | ' | ' |
Gross Unrealized Losses, Less Than Twelve Months | 1,464 | ' |
Fair Value, Less Than Twelve Months | 56,189 | ' |
Gross Unrealized Losses, Twelve Months or More | 0 | ' |
Fair Value, Twelve Months or More | 0 | ' |
Total Unrealized Losses | 1,464 | ' |
Government sponsored enterprises [Member] | ' | ' |
Available-for-sale securities with gross unrealized losses | ' | ' |
Gross Unrealized Losses, Less Than Twelve Months | 837 | ' |
Fair Value, Less Than Twelve Months | 23,157 | ' |
Gross Unrealized Losses, Twelve Months or More | 0 | ' |
Fair Value, Twelve Months or More | 0 | ' |
Total Unrealized Losses | 837 | ' |
States and political subdivisions [Member] | ' | ' |
Available-for-sale securities with gross unrealized losses | ' | ' |
Gross Unrealized Losses, Less Than Twelve Months | 1,952 | 80 |
Fair Value, Less Than Twelve Months | 39,713 | 5,019 |
Gross Unrealized Losses, Twelve Months or More | 493 | 485 |
Fair Value, Twelve Months or More | 2,069 | 2,352 |
Total Unrealized Losses | 2,445 | 565 |
Preferred stocks [Member] | ' | ' |
Available-for-sale securities with gross unrealized losses | ' | ' |
Gross Unrealized Losses, Less Than Twelve Months | 0 | 0 |
Fair Value, Less Than Twelve Months | 0 | 0 |
Gross Unrealized Losses, Twelve Months or More | 658 | 437 |
Fair Value, Twelve Months or More | 3,141 | 3,363 |
Total Unrealized Losses | 658 | 437 |
Mortgage-backed securities [Member] | ' | ' |
Available-for-sale securities with gross unrealized losses | ' | ' |
Gross Unrealized Losses, Less Than Twelve Months | 2,721 | 110 |
Fair Value, Less Than Twelve Months | 77,269 | 25,499 |
Gross Unrealized Losses, Twelve Months or More | 0 | 0 |
Fair Value, Twelve Months or More | 0 | 0 |
Total Unrealized Losses | $2,721 | $110 |
AvailableforSale_Securities_Ke
Available-for-Sale Securities (Key valuation assumptions) (Details) (Auction Rate Securities [Member]) | 3 Months Ended |
Mar. 31, 2012 | |
Discounted Cash Flow [Member] | ' |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ' |
Discount rate, valuation basis | 'LIBOR |
Discount rate, basis spread on valuation | 6.35% |
Credit Yield Analysis [Member] | ' |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ' |
Discount rate, valuation basis | 'LIBOR |
Discount rate, basis spread on valuation | 4.00% |
Average observed discounts based on closed transactions | 14.00% |
AvailableforSale_Securities_Ro
Available-for-Sale Securities (Roll-forward of credit related impairment recognized in earnings) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Roll-forward of credit related impairment recognized in earnings | ' | ' | ' | ' |
Balance at beginning of period | $282 | $282 | $282 | $0 |
Additions to credit losses for which no previous OTTI was recognized | 0 | 0 | 0 | 282 |
Balance at end of period | $282 | $282 | $282 | $282 |
AvailableforSale_Securities_Na
Available-for-Sale Securities (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended |
Mar. 31, 2012 | Sep. 30, 2013 | |
Method | ||
Securities | ||
Available-for-sale Securities (Textual) [Abstract] | ' | ' |
Number of state issued student loan | 1 | ' |
Number of method used for evaluation | 2 | ' |
Other than temporary impairment loss recognized in earnings for the first quarter | $282,000 | ' |
Additional OTTI | ' | $0 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses (Summary of changes in ALLL by segments) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Summary of changes in the ALLL and the recorded investment in loans by segments | ' | ' | ' | ' |
Allowance for loan losses, Beginning Balance | $11,700 | $12,318 | $11,936 | $12,375 |
Allowance for loan losses, Loans charged off | -602 | -611 | -1,843 | -1,887 |
Allowance for loan losses, Recoveries | 151 | 155 | 641 | 474 |
Allowance for loan losses, Provision for loan losses | 351 | 200 | 866 | 1,100 |
Allowance for loan losses, Ending Balance | 11,600 | 12,062 | 11,600 | 12,062 |
Commercial [Member] | ' | ' | ' | ' |
Summary of changes in the ALLL and the recorded investment in loans by segments | ' | ' | ' | ' |
Allowance for loan losses, Beginning Balance | 6,472 | 6,008 | 6,862 | 6,284 |
Allowance for loan losses, Loans charged off | -394 | -271 | -839 | -957 |
Allowance for loan losses, Recoveries | 66 | 40 | 289 | 168 |
Allowance for loan losses, Provision for loan losses | 69 | 1,132 | -99 | 1,414 |
Allowance for loan losses, Ending Balance | 6,213 | 6,909 | 6,213 | 6,909 |
Agricultural [Member] | ' | ' | ' | ' |
Summary of changes in the ALLL and the recorded investment in loans by segments | ' | ' | ' | ' |
Allowance for loan losses, Beginning Balance | 335 | 433 | 407 | 1,003 |
Allowance for loan losses, Loans charged off | -12 | 0 | -12 | 0 |
Allowance for loan losses, Recoveries | 0 | 0 | 0 | 0 |
Allowance for loan losses, Provision for loan losses | 108 | 6 | 36 | -564 |
Allowance for loan losses, Ending Balance | 431 | 439 | 431 | 439 |
Residential Real Estate [Member] | ' | ' | ' | ' |
Summary of changes in the ALLL and the recorded investment in loans by segments | ' | ' | ' | ' |
Allowance for loan losses, Beginning Balance | 3,676 | 3,669 | 3,627 | 2,980 |
Allowance for loan losses, Loans charged off | -94 | -213 | -681 | -566 |
Allowance for loan losses, Recoveries | 38 | 34 | 152 | 95 |
Allowance for loan losses, Provision for loan losses | 127 | -356 | 649 | 625 |
Allowance for loan losses, Ending Balance | 3,747 | 3,134 | 3,747 | 3,134 |
Consumer [Member] | ' | ' | ' | ' |
Summary of changes in the ALLL and the recorded investment in loans by segments | ' | ' | ' | ' |
Allowance for loan losses, Beginning Balance | 647 | 667 | 666 | 633 |
Allowance for loan losses, Loans charged off | -102 | -127 | -311 | -364 |
Allowance for loan losses, Recoveries | 47 | 81 | 200 | 211 |
Allowance for loan losses, Provision for loan losses | 74 | 91 | 111 | 232 |
Allowance for loan losses, Ending Balance | 666 | 712 | 666 | 712 |
Unallocated [Member] | ' | ' | ' | ' |
Summary of changes in the ALLL and the recorded investment in loans by segments | ' | ' | ' | ' |
Allowance for loan losses, Beginning Balance | 570 | 1,541 | 374 | 1,475 |
Allowance for loan losses, Loans charged off | 0 | 0 | 0 | 0 |
Allowance for loan losses, Recoveries | 0 | 0 | 0 | 0 |
Allowance for loan losses, Provision for loan losses | -27 | -673 | 169 | -607 |
Allowance for loan losses, Ending Balance | $543 | $868 | $543 | $868 |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses (Summary of recorded investment in loans by segments) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Allowance for loan losses [Member] | ' | ' |
Allowance for Loan Losses and Recorded Investment in Loans | ' | ' |
Individually evaluated for impairment | $4,001 | $3,937 |
Collectively evaluated for impairment | 7,599 | 7,999 |
Total | 11,600 | 11,936 |
Loans [Member] | ' | ' |
Allowance for Loan Losses and Recorded Investment in Loans | ' | ' |
Individually evaluated for impairment | 24,521 | 25,958 |
Collectively evaluated for impairment | 783,328 | 746,795 |
Total | 807,849 | 772,753 |
Commercial [Member] | Allowance for loan losses [Member] | ' | ' |
Allowance for Loan Losses and Recorded Investment in Loans | ' | ' |
Individually evaluated for impairment | 2,080 | 2,050 |
Collectively evaluated for impairment | 4,133 | 4,812 |
Total | 6,213 | 6,862 |
Commercial [Member] | Loans [Member] | ' | ' |
Allowance for Loan Losses and Recorded Investment in Loans | ' | ' |
Individually evaluated for impairment | 12,155 | 14,456 |
Collectively evaluated for impairment | 376,818 | 357,049 |
Total | 388,973 | 371,505 |
Agricultural [Member] | Allowance for loan losses [Member] | ' | ' |
Allowance for Loan Losses and Recorded Investment in Loans | ' | ' |
Individually evaluated for impairment | 31 | 91 |
Collectively evaluated for impairment | 400 | 316 |
Total | 431 | 407 |
Agricultural [Member] | Loans [Member] | ' | ' |
Allowance for Loan Losses and Recorded Investment in Loans | ' | ' |
Individually evaluated for impairment | 787 | 723 |
Collectively evaluated for impairment | 92,140 | 82,883 |
Total | 92,927 | 83,606 |
Residential Real Estate [Member] | Allowance for loan losses [Member] | ' | ' |
Allowance for Loan Losses and Recorded Investment in Loans | ' | ' |
Individually evaluated for impairment | 1,890 | 1,796 |
Collectively evaluated for impairment | 1,857 | 1,831 |
Total | 3,747 | 3,627 |
Residential Real Estate [Member] | Loans [Member] | ' | ' |
Allowance for Loan Losses and Recorded Investment in Loans | ' | ' |
Individually evaluated for impairment | 11,514 | 10,704 |
Collectively evaluated for impairment | 280,311 | 273,444 |
Total | 291,825 | 284,148 |
Consumer [Member] | Allowance for loan losses [Member] | ' | ' |
Allowance for Loan Losses and Recorded Investment in Loans | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 666 | 666 |
Total | 666 | 666 |
Consumer [Member] | Loans [Member] | ' | ' |
Allowance for Loan Losses and Recorded Investment in Loans | ' | ' |
Individually evaluated for impairment | 65 | 75 |
Collectively evaluated for impairment | 34,059 | 33,419 |
Total | 34,124 | 33,494 |
Unallocated [Member] | Allowance for loan losses [Member] | ' | ' |
Allowance for Loan Losses and Recorded Investment in Loans | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 543 | 374 |
Total | $543 | $374 |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses (Credit quality indicators for commercial and agricultural credit exposures) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | $796,249 | $760,817 |
Commercial real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 284,707 | 275,620 |
Commercial other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 104,266 | 95,885 |
Total commercial [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 388,973 | 371,505 |
Agricultural real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 58,630 | 49,393 |
Agricultural other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 34,297 | 34,213 |
Total agricultural [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 92,927 | 83,606 |
2 - High quality [Member] | Commercial real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 21,334 | 25,209 |
2 - High quality [Member] | Commercial other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 15,823 | 15,536 |
2 - High quality [Member] | Total commercial [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 37,157 | 40,745 |
2 - High quality [Member] | Agricultural real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 3,665 | 2,955 |
2 - High quality [Member] | Agricultural other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 3,005 | 2,313 |
2 - High quality [Member] | Total agricultural [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 6,670 | 5,268 |
3 - High satisfactory [Member] | Commercial real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 89,630 | 83,805 |
3 - High satisfactory [Member] | Commercial other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 40,464 | 28,974 |
3 - High satisfactory [Member] | Total commercial [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 130,094 | 112,779 |
3 - High satisfactory [Member] | Agricultural real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 26,679 | 16,972 |
3 - High satisfactory [Member] | Agricultural other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 16,958 | 11,886 |
3 - High satisfactory [Member] | Total agricultural [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 43,637 | 28,858 |
4 - Low satisfactory [Member] | Commercial real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 141,646 | 127,423 |
4 - Low satisfactory [Member] | Commercial other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 45,022 | 45,143 |
4 - Low satisfactory [Member] | Total commercial [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 186,668 | 172,566 |
4 - Low satisfactory [Member] | Agricultural real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 25,564 | 27,291 |
4 - Low satisfactory [Member] | Agricultural other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 11,672 | 15,437 |
4 - Low satisfactory [Member] | Total agricultural [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 37,236 | 42,728 |
5 - Special mention [Member] | Commercial real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 13,246 | 16,046 |
5 - Special mention [Member] | Commercial other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 1,256 | 1,692 |
5 - Special mention [Member] | Total commercial [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 14,502 | 17,738 |
5 - Special mention [Member] | Agricultural real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 1,917 | 1,008 |
5 - Special mention [Member] | Agricultural other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 1,027 | 3,191 |
5 - Special mention [Member] | Total agricultural [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 2,944 | 4,199 |
6 - Substandard [Member] | Commercial real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 17,532 | 20,029 |
6 - Substandard [Member] | Commercial other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 1,497 | 2,224 |
6 - Substandard [Member] | Total commercial [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 19,029 | 22,253 |
6 - Substandard [Member] | Agricultural real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 805 | 1,167 |
6 - Substandard [Member] | Agricultural other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 1,387 | 1,217 |
6 - Substandard [Member] | Total agricultural [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 2,192 | 2,384 |
7 - Vulnerable [Member] | Commercial real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 1,085 | 1,512 |
7 - Vulnerable [Member] | Commercial other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 186 | 2,294 |
7 - Vulnerable [Member] | Total commercial [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 1,271 | 3,806 |
7 - Vulnerable [Member] | Agricultural real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 0 | 0 |
7 - Vulnerable [Member] | Agricultural other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 248 | 0 |
7 - Vulnerable [Member] | Total agricultural [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 248 | 0 |
8 - Doubtful [Member] | Commercial real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 234 | 1,596 |
8 - Doubtful [Member] | Commercial other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 18 | 22 |
8 - Doubtful [Member] | Total commercial [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 252 | 1,618 |
8 - Doubtful [Member] | Agricultural real estate [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 0 | 0 |
8 - Doubtful [Member] | Agricultural other [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | 0 | 169 |
8 - Doubtful [Member] | Total agricultural [Member] | ' | ' |
Credit quality indicators for commercial and agricultural credit exposures | ' | ' |
Total | $0 | $169 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses (Past due and current loans) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | $5,249 | $4,627 |
Accruing Interest and Past Due: 60-89 Days | 2,344 | 543 |
Accruing Interest and Pass Due: 90 Days or More | 457 | 428 |
Nonaccrual | 3,812 | 7,303 |
Total Past Due and Nonaccrual | 11,862 | 12,901 |
Current | 795,987 | 759,852 |
Total | 807,849 | 772,753 |
Commercial real estate [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 343 | 1,304 |
Accruing Interest and Past Due: 60-89 Days | 889 | 161 |
Accruing Interest and Pass Due: 90 Days or More | 167 | 63 |
Nonaccrual | 1,266 | 2,544 |
Total Past Due and Nonaccrual | 2,665 | 4,072 |
Current | 282,042 | 271,548 |
Total | 284,707 | 275,620 |
Commercial other [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 867 | 606 |
Accruing Interest and Past Due: 60-89 Days | 32 | 0 |
Accruing Interest and Pass Due: 90 Days or More | 0 | 40 |
Nonaccrual | 239 | 2,294 |
Total Past Due and Nonaccrual | 1,138 | 2,940 |
Current | 103,128 | 92,945 |
Total | 104,266 | 95,885 |
Total commercial [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 1,210 | 1,910 |
Accruing Interest and Past Due: 60-89 Days | 921 | 161 |
Accruing Interest and Pass Due: 90 Days or More | 167 | 103 |
Nonaccrual | 1,505 | 4,838 |
Total Past Due and Nonaccrual | 3,803 | 7,012 |
Current | 385,170 | 364,493 |
Total | 388,973 | 371,505 |
Agricultural real estate [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 642 | 0 |
Accruing Interest and Past Due: 60-89 Days | 0 | 0 |
Accruing Interest and Pass Due: 90 Days or More | 0 | 0 |
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccrual | 642 | 0 |
Current | 57,988 | 49,393 |
Total | 58,630 | 49,393 |
Agricultural other [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 214 | 90 |
Accruing Interest and Past Due: 60-89 Days | 450 | 0 |
Accruing Interest and Pass Due: 90 Days or More | 0 | 0 |
Nonaccrual | 262 | 169 |
Total Past Due and Nonaccrual | 926 | 259 |
Current | 33,371 | 33,954 |
Total | 34,297 | 34,213 |
Total agricultural [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 856 | 90 |
Accruing Interest and Past Due: 60-89 Days | 450 | 0 |
Accruing Interest and Pass Due: 90 Days or More | 0 | 0 |
Nonaccrual | 262 | 169 |
Total Past Due and Nonaccrual | 1,568 | 259 |
Current | 91,359 | 83,347 |
Total | 92,927 | 83,606 |
Residential real estate senior liens [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 2,549 | 2,000 |
Accruing Interest and Past Due: 60-89 Days | 898 | 346 |
Accruing Interest and Pass Due: 90 Days or More | 290 | 320 |
Nonaccrual | 1,957 | 2,064 |
Total Past Due and Nonaccrual | 5,694 | 4,730 |
Current | 232,710 | 223,532 |
Total | 238,404 | 228,262 |
Residential real estate junior liens [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 166 | 232 |
Accruing Interest and Past Due: 60-89 Days | 0 | 0 |
Accruing Interest and Pass Due: 90 Days or More | 0 | 0 |
Nonaccrual | 68 | 50 |
Total Past Due and Nonaccrual | 234 | 282 |
Current | 13,649 | 16,207 |
Total | 13,883 | 16,489 |
Residential real estate home equity lines of credit [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 347 | 237 |
Accruing Interest and Past Due: 60-89 Days | 64 | 0 |
Accruing Interest and Pass Due: 90 Days or More | 0 | 0 |
Nonaccrual | 0 | 182 |
Total Past Due and Nonaccrual | 411 | 419 |
Current | 39,127 | 38,978 |
Total | 39,538 | 39,397 |
Total residential real estate [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 3,062 | 2,469 |
Accruing Interest and Past Due: 60-89 Days | 962 | 346 |
Accruing Interest and Pass Due: 90 Days or More | 290 | 320 |
Nonaccrual | 2,025 | 2,296 |
Total Past Due and Nonaccrual | 6,339 | 5,431 |
Current | 285,486 | 278,717 |
Total | 291,825 | 284,148 |
Consumer secured [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 115 | 127 |
Accruing Interest and Past Due: 60-89 Days | 1 | 33 |
Accruing Interest and Pass Due: 90 Days or More | 0 | 4 |
Nonaccrual | 0 | 0 |
Total Past Due and Nonaccrual | 116 | 164 |
Current | 29,190 | 28,118 |
Total | 29,306 | 28,282 |
Consumer unsecured [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 6 | 31 |
Accruing Interest and Past Due: 60-89 Days | 10 | 3 |
Accruing Interest and Pass Due: 90 Days or More | 0 | 1 |
Nonaccrual | 20 | 0 |
Total Past Due and Nonaccrual | 36 | 35 |
Current | 4,782 | 5,177 |
Total | 4,818 | 5,212 |
Total consumer [Member] | ' | ' |
Credit quality indicators for residential real estate and consumer loans is the individual loan's past due aging | ' | ' |
Accruing Interest and Past Due: 30-59 Days | 121 | 158 |
Accruing Interest and Past Due: 60-89 Days | 11 | 36 |
Accruing Interest and Pass Due: 90 Days or More | 0 | 5 |
Nonaccrual | 20 | 0 |
Total Past Due and Nonaccrual | 152 | 199 |
Current | 33,972 | 33,295 |
Total | $34,124 | $33,494 |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses (Summary of information pertaining to impaired loans) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans with a valuation allowance, Outstanding Balance | $18,113 | ' | $18,113 | ' | $20,468 |
Impaired loans without a valuation allowance, Outstanding Balance | 6,408 | ' | 6,408 | ' | 5,490 |
Impaired loans, Outstanding Balance | 24,521 | ' | 24,521 | ' | 25,958 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 19,569 | ' | 19,569 | ' | 21,977 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 7,783 | ' | 7,783 | ' | 6,739 |
Impaired loans, Unpaid Principal Balance | 27,352 | ' | 27,352 | ' | 28,716 |
Impaired loans with a valuation allowance, Valuation Allowance | 4,001 | ' | 4,001 | ' | 3,937 |
Impaired loans, Valuation Allowance | 4,001 | ' | 4,001 | ' | 3,937 |
Impaired loans with a valuation allowance, Average Outstanding Balance | 18,570 | 17,431 | 19,362 | 17,235 | ' |
Impaired loans without a valuation allowance, Average Outstanding Balance | 6,189 | 9,542 | 5,856 | 9,976 | ' |
Impaired loans, Average Outstanding Balance | 24,759 | 26,973 | 25,218 | 27,211 | ' |
Impaired loans with a valuation allowance, Interest Income Recognized | 422 | 264 | 893 | 725 | ' |
Impaired loans without a valuation allowance, Interest Income Recognized | 224 | 129 | 452 | 391 | ' |
Impaired loans, Interest Income Recognized | 646 | 393 | 1,345 | 1,116 | ' |
Commercial real estate [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans with a valuation allowance, Outstanding Balance | 6,023 | ' | 6,023 | ' | 7,295 |
Impaired loans without a valuation allowance, Outstanding Balance | 4,656 | ' | 4,656 | ' | 3,749 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 6,161 | ' | 6,161 | ' | 7,536 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 5,494 | ' | 5,494 | ' | 4,408 |
Impaired loans with a valuation allowance, Valuation Allowance | 1,818 | ' | 1,818 | ' | 1,653 |
Impaired loans with a valuation allowance, Average Outstanding Balance | 6,471 | 6,260 | 7,546 | 6,197 | ' |
Impaired loans without a valuation allowance, Average Outstanding Balance | 4,531 | 5,651 | 4,037 | 6,749 | ' |
Impaired loans with a valuation allowance, Interest Income Recognized | 157 | 106 | 378 | 287 | ' |
Impaired loans without a valuation allowance, Interest Income Recognized | 169 | 72 | 327 | 251 | ' |
Commercial other [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans with a valuation allowance, Outstanding Balance | 658 | ' | 658 | ' | 2,140 |
Impaired loans without a valuation allowance, Outstanding Balance | 818 | ' | 818 | ' | 1,272 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 658 | ' | 658 | ' | 2,140 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 928 | ' | 928 | ' | 1,433 |
Impaired loans with a valuation allowance, Valuation Allowance | 262 | ' | 262 | ' | 397 |
Impaired loans with a valuation allowance, Average Outstanding Balance | 1,063 | 1,996 | 976 | 1,183 | ' |
Impaired loans without a valuation allowance, Average Outstanding Balance | 833 | 2,026 | 1,029 | 1,860 | ' |
Impaired loans with a valuation allowance, Interest Income Recognized | 29 | 67 | 67 | 95 | ' |
Impaired loans without a valuation allowance, Interest Income Recognized | 29 | 15 | 88 | 80 | ' |
Agricultural real estate [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans with a valuation allowance, Outstanding Balance | 90 | ' | 90 | ' | 91 |
Impaired loans without a valuation allowance, Outstanding Balance | 329 | ' | 329 | ' | 0 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 90 | ' | 90 | ' | 91 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 329 | ' | 329 | ' | 0 |
Impaired loans with a valuation allowance, Valuation Allowance | 31 | ' | 31 | ' | 32 |
Impaired loans with a valuation allowance, Average Outstanding Balance | 91 | 0 | 91 | 0 | ' |
Impaired loans without a valuation allowance, Average Outstanding Balance | 231 | 179 | 144 | 214 | ' |
Impaired loans with a valuation allowance, Interest Income Recognized | 2 | 0 | 4 | 0 | ' |
Impaired loans without a valuation allowance, Interest Income Recognized | 15 | 0 | 19 | 0 | ' |
Agricultural other [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans with a valuation allowance, Outstanding Balance | 0 | ' | 0 | ' | 420 |
Impaired loans without a valuation allowance, Outstanding Balance | 368 | ' | 368 | ' | 212 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 0 | ' | 0 | ' | 420 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 488 | ' | 488 | ' | 332 |
Impaired loans with a valuation allowance, Valuation Allowance | 0 | ' | 0 | ' | 59 |
Impaired loans with a valuation allowance, Average Outstanding Balance | 0 | 1,023 | 70 | 1,878 | ' |
Impaired loans without a valuation allowance, Average Outstanding Balance | 361 | 1,417 | 402 | 869 | ' |
Impaired loans with a valuation allowance, Interest Income Recognized | 0 | 0 | 0 | 73 | ' |
Impaired loans without a valuation allowance, Interest Income Recognized | 2 | 34 | -2 | 41 | ' |
Residential real estate senior liens [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans with a valuation allowance, Outstanding Balance | 11,254 | ' | 11,254 | ' | 10,450 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 12,525 | ' | 12,525 | ' | 11,672 |
Impaired loans with a valuation allowance, Valuation Allowance | 1,873 | ' | 1,873 | ' | 1,783 |
Impaired loans with a valuation allowance, Average Outstanding Balance | 10,865 | 7,994 | 10,595 | 7,803 | ' |
Impaired loans with a valuation allowance, Interest Income Recognized | 230 | 88 | 439 | 263 | ' |
Residential real estate junior liens [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans with a valuation allowance, Outstanding Balance | 88 | ' | 88 | ' | 72 |
Impaired loans with a valuation allowance, Unpaid Principal Balance | 135 | ' | 135 | ' | 118 |
Impaired loans with a valuation allowance, Valuation Allowance | 17 | ' | 17 | ' | 13 |
Impaired loans with a valuation allowance, Average Outstanding Balance | 80 | 158 | 84 | 174 | ' |
Impaired loans with a valuation allowance, Interest Income Recognized | 4 | 3 | 5 | 7 | ' |
Home equity lines of credit [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans without a valuation allowance, Outstanding Balance | 172 | ' | 172 | ' | 182 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 472 | ' | 472 | ' | 482 |
Impaired loans without a valuation allowance, Average Outstanding Balance | 173 | 188 | 178 | 194 | ' |
Impaired loans without a valuation allowance, Interest Income Recognized | 8 | 6 | 17 | 14 | ' |
Consumer secured [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans without a valuation allowance, Outstanding Balance | 65 | ' | 65 | ' | 75 |
Impaired loans without a valuation allowance, Unpaid Principal Balance | 72 | ' | 72 | ' | 84 |
Impaired loans without a valuation allowance, Average Outstanding Balance | 60 | 81 | 66 | 90 | ' |
Impaired loans without a valuation allowance, Interest Income Recognized | 1 | 2 | 3 | 5 | ' |
Commercial [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans, Outstanding Balance | 12,155 | ' | 12,155 | ' | 14,456 |
Impaired loans, Unpaid Principal Balance | 13,241 | ' | 13,241 | ' | 15,517 |
Impaired loans, Valuation Allowance | 2,080 | ' | 2,080 | ' | 2,050 |
Impaired loans, Average Outstanding Balance | 12,898 | 15,933 | 13,588 | 15,989 | ' |
Impaired loans, Interest Income Recognized | 384 | 260 | 860 | 713 | ' |
Agricultural [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans, Outstanding Balance | 787 | ' | 787 | ' | 723 |
Impaired loans, Unpaid Principal Balance | 907 | ' | 907 | ' | 843 |
Impaired loans, Valuation Allowance | 31 | ' | 31 | ' | 91 |
Impaired loans, Average Outstanding Balance | 683 | 2,619 | 707 | 2,961 | ' |
Impaired loans, Interest Income Recognized | 19 | 34 | 21 | 114 | ' |
Residential Real Estate [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans, Outstanding Balance | 11,514 | ' | 11,514 | ' | 10,704 |
Impaired loans, Unpaid Principal Balance | 13,132 | ' | 13,132 | ' | 12,272 |
Impaired loans, Valuation Allowance | 1,890 | ' | 1,890 | ' | 1,796 |
Impaired loans, Average Outstanding Balance | 11,118 | 8,340 | 10,857 | 8,171 | ' |
Impaired loans, Interest Income Recognized | 242 | 97 | 461 | 284 | ' |
Consumer [Member] | ' | ' | ' | ' | ' |
Information pertaining to impaired loans | ' | ' | ' | ' | ' |
Impaired loans, Outstanding Balance | 65 | ' | 65 | ' | 75 |
Impaired loans, Unpaid Principal Balance | 72 | ' | 72 | ' | 84 |
Impaired loans, Valuation Allowance | 0 | ' | 0 | ' | 0 |
Impaired loans, Average Outstanding Balance | 60 | 81 | 66 | 90 | ' |
Impaired loans, Interest Income Recognized | $1 | $2 | $3 | $5 | ' |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses (Summary of information pertaining to TDRs) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
NumberofLoan | NumberofLoan | NumberofLoan | NumberofLoan | |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 22 | 2 | 45 | 46 |
Pre- Modification Recorded Investment | $1,587 | $200 | $6,310 | $7,057 |
Post- Modification Recorded Investment | 1,587 | 200 | 6,097 | 7,057 |
Below Market Interest Rate [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 15 | 1 | 26 | 35 |
Pre- Modification Recorded Investment | 1,297 | 178 | 3,413 | 5,809 |
Below Market Interest Rate and Extension of Amortization Period [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 7 | 1 | 19 | 11 |
Pre- Modification Recorded Investment | 290 | 22 | 2,897 | 1,248 |
Commercial other [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 3 | 1 | 10 | 27 |
Pre- Modification Recorded Investment | 159 | 178 | 3,313 | 5,069 |
Post- Modification Recorded Investment | 159 | 178 | 3,116 | 5,069 |
Commercial other [Member] | Below Market Interest Rate [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 3 | 1 | 6 | 25 |
Pre- Modification Recorded Investment | 159 | 178 | 1,517 | 4,924 |
Commercial other [Member] | Below Market Interest Rate and Extension of Amortization Period [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 0 | 0 | 4 | 2 |
Pre- Modification Recorded Investment | 0 | 0 | 1,796 | 145 |
Agricultural other [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 1 | 0 | 2 | 6 |
Pre- Modification Recorded Investment | 198 | 0 | 332 | 561 |
Post- Modification Recorded Investment | 198 | 0 | 332 | 561 |
Agricultural other [Member] | Below Market Interest Rate [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 1 | 0 | 2 | 6 |
Pre- Modification Recorded Investment | 198 | 0 | 332 | 561 |
Agricultural other [Member] | Below Market Interest Rate and Extension of Amortization Period [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 0 | 0 | 0 | 0 |
Pre- Modification Recorded Investment | 0 | 0 | 0 | 0 |
Residential real estate senior liens [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 15 | 0 | 30 | 12 |
Pre- Modification Recorded Investment | 1,176 | 0 | 2,611 | 1,405 |
Post- Modification Recorded Investment | 1,176 | 0 | 2,595 | 1,405 |
Residential real estate senior liens [Member] | Below Market Interest Rate [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 10 | 0 | 17 | 4 |
Pre- Modification Recorded Investment | 924 | 0 | 1,548 | 324 |
Residential real estate senior liens [Member] | Below Market Interest Rate and Extension of Amortization Period [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 5 | 0 | 13 | 8 |
Pre- Modification Recorded Investment | 252 | 0 | 1,063 | 1,081 |
Residential real estate junior liens [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 1 | 1 | 1 | 1 |
Pre- Modification Recorded Investment | 20 | 22 | 20 | 22 |
Post- Modification Recorded Investment | 20 | 22 | 20 | 22 |
Residential real estate junior liens [Member] | Below Market Interest Rate [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 0 | 0 | 0 | 0 |
Pre- Modification Recorded Investment | 0 | 0 | 0 | 0 |
Residential real estate junior liens [Member] | Below Market Interest Rate and Extension of Amortization Period [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 1 | 1 | 1 | 1 |
Pre- Modification Recorded Investment | 20 | 22 | 20 | 22 |
Consumer Unsecured [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 2 | ' | 2 | ' |
Pre- Modification Recorded Investment | 34 | ' | 34 | ' |
Post- Modification Recorded Investment | 34 | ' | 34 | ' |
Consumer Unsecured [Member] | Below Market Interest Rate [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 1 | ' | 1 | ' |
Pre- Modification Recorded Investment | 16 | ' | 16 | ' |
Consumer Unsecured [Member] | Below Market Interest Rate and Extension of Amortization Period [Member] | ' | ' | ' | ' |
Information pertaining to TDR's | ' | ' | ' | ' |
Number of Loans | 1 | ' | 1 | ' |
Pre- Modification Recorded Investment | $18 | ' | $18 | ' |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses (Summary of loans that defaulted) (Details) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 |
NumberofLoan | NumberofLoan | |
Summary of defaulted loans | ' | ' |
Number of Loans | 3 | 5 |
Pre-Default Recorded Investment | $58 | $187 |
Charge- Off Recorded Upon Default | 33 | 117 |
Post-Default Recorded Investment | 25 | 70 |
Commercial other [Member] | ' | ' |
Summary of defaulted loans | ' | ' |
Number of Loans | 2 | 3 |
Pre-Default Recorded Investment | 50 | 132 |
Charge- Off Recorded Upon Default | 25 | 66 |
Post-Default Recorded Investment | 25 | 66 |
Residential real estate senior liens [Member] | ' | ' |
Summary of defaulted loans | ' | ' |
Number of Loans | 0 | 1 |
Pre-Default Recorded Investment | 0 | 47 |
Charge- Off Recorded Upon Default | 0 | 43 |
Post-Default Recorded Investment | 0 | 4 |
Consumer secured [Member] | ' | ' |
Summary of defaulted loans | ' | ' |
Number of Loans | 1 | 1 |
Pre-Default Recorded Investment | 8 | 8 |
Charge- Off Recorded Upon Default | 8 | 8 |
Post-Default Recorded Investment | $0 | $0 |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses (Summary of TDR loan balances) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Summary of TDR loan balances | ' | ' |
Troubled debt restructurings | $20,337 | $19,355 |
Recovered_Sheet1
Loans and Allowance for Loan Losses (Narrative) (Details) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
NumberofLoan | NumberofLoan | ||
Loans and Allowance for Loan Losses (Textual) [Abstract] | ' | ' | ' |
Amortized periods | '6 years | ' | ' |
Loans and Allowance for Loan Losses (Additional Textual) [Abstract] | ' | ' | ' |
Number of days past due (or more), accrual of interest discontinued | '90 days | ' | ' |
Maximum days of consumer loan charged off | '180 days | ' | ' |
Consumer loans sold to secondary market | $0 | ' | ' |
Migration analysis of loan portfolio period | '5 years | ' | ' |
Advance in connection with impaired loans | 88 | ' | 9 |
Number of loans restructured through the forbearance of principal or accrued interest | 0 | 0 | ' |
Installment period | '12 months | ' | ' |
Maximum [Member] | ' | ' | ' |
Loans and Allowance for Loan Losses (Textual) [Abstract] | ' | ' | ' |
Amortized periods | '30 years | ' | ' |
Repayment delinquent period | '30 days | ' | ' |
Loans delinquent and overdraft period | '60 days | ' | ' |
Minimum [Member] | ' | ' | ' |
Loans and Allowance for Loan Losses (Textual) [Abstract] | ' | ' | ' |
Repayment delinquent period | '10 days | ' | ' |
Loans delinquent and overdraft period | '30 days | ' | ' |
Residential Real Estate [Member] | ' | ' | ' |
Loans and Allowance for Loan Losses (Textual) [Abstract] | ' | ' | ' |
Maximum percentage of loan | 95.00% | ' | ' |
Maximum percentage of private mortgage insurance required | 80.00% | ' | ' |
Maximum percentage of principal, interest, taxes and hazard insurance on property over gross income | 28.00% | ' | ' |
Maximum percentage of debt servicing over gross income | 36.00% | ' | ' |
Maximum amount without corporation approval | 400 | ' | ' |
Residential Real Estate [Member] | Maximum [Member] | ' | ' | ' |
Loans and Allowance for Loan Losses (Textual) [Abstract] | ' | ' | ' |
Amortized periods | '15 years | ' | ' |
Residential Real Estate [Member] | Minimum [Member] | ' | ' | ' |
Loans and Allowance for Loan Losses (Textual) [Abstract] | ' | ' | ' |
Amortized periods | '15 years | ' | ' |
Commercial and agricultural real estate [Member] | ' | ' | ' |
Loans and Allowance for Loan Losses (Textual) [Abstract] | ' | ' | ' |
Maximum amount of loans | $12,500 | ' | ' |
Maximum percentage of loan | 80.00% | ' | ' |
Equity_Securities_Without_Read2
Equity Securities Without Readily Determinable Fair Values (Equity securities without readily determinable fair values) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of equity securities without fair values | ' | ' |
FRB Stock | $1,879 | $1,879 |
Other | 344 | 349 |
Total | 18,353 | 18,118 |
Investment in Federal Home Loan Bank Stock [Member] | ' | ' |
Schedule of equity securities without fair values | ' | ' |
FHLB Stock | 8,100 | 7,850 |
Investment in Corporate Settlement Solutions [Member] | ' | ' |
Schedule of equity securities without fair values | ' | ' |
Equity method investments | 7,030 | 7,040 |
Investment in Valley Financial Corporation [Member] | ' | ' |
Schedule of equity securities without fair values | ' | ' |
Equity method investments | $1,000 | $1,000 |
Borrowed_Funds_Borrowed_funds_
Borrowed Funds (Borrowed funds obligations) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Debt, Long-term and Short-term, Combined Amount | $266,001 | $241,001 |
Debt, Weighted Average Interest Rate | 1.51% | 1.59% |
Federal Home Loan Bank Advances [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt, Long-term and Short-term, Combined Amount | 162,000 | 152,000 |
Debt, Weighted Average Interest Rate | 2.02% | 2.05% |
Securities sold under agreements to repurchase [Member] | Without stated maturity dates [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt, Long-term and Short-term, Combined Amount | 81,405 | 66,147 |
Debt, Weighted Average Interest Rate | 0.15% | 0.15% |
Securities sold under agreements to repurchase [Member] | With stated maturity dates [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt, Long-term and Short-term, Combined Amount | 16,296 | 16,284 |
Debt, Weighted Average Interest Rate | 3.57% | 3.57% |
Federal Funds Purchased [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt, Long-term and Short-term, Combined Amount | $6,300 | $6,570 |
Debt, Weighted Average Interest Rate | 0.50% | 0.50% |
Borrowed_Funds_Maturity_and_we
Borrowed Funds (Maturity and weighted average interest rates of FHLB advances) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of maturity and weighted average interest rates of FHLB advances | ' | ' |
Fixed rate advances due 2014, Amount | $10,000 | $10,000 |
Fixed rate advances due 2014, Rate | 0.48% | 0.48% |
Fixed rate advances due 2015, Amount | 32,000 | 42,000 |
Fixed rate advances due 2015, Rate | 0.84% | 1.12% |
Fixed rate advances due 2016, Amount | 10,000 | 10,000 |
Fixed rate advances due 2016, Rate | 2.15% | 2.15% |
Fixed rate advances due 2017, Amount | 30,000 | 40,000 |
Fixed rate advances due 2017, Rate | 1.95% | 2.15% |
Fixed rate advances due 2018, Amount | 40,000 | 20,000 |
Fixed rate advances due 2018, Rate | 2.35% | 2.86% |
Fixed rate advances due 2019, Amount | 20,000 | 20,000 |
Fixed rate advances due 2019, Rate | 3.11% | 3.73% |
Fixed rate advances due 2020, Amount | 10,000 | 10,000 |
Fixed rate advances due 2020, Rate | 1.98% | 1.98% |
Fixed rate advances due 2023, Amount | 10,000 | 0 |
Fixed rate advances due 2023, Rate | 3.90% | 0.00% |
Total, Amount | $162,000 | $152,000 |
Total, Rate | 2.02% | 2.05% |
Borrowed_Funds_Shortterm_borro
Borrowed Funds (Short-term borrowings) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Securities sold under agreements to repurchase without stated maturity dates [Member] | ' | ' | ' | ' |
Summary of short term borrowings | ' | ' | ' | ' |
Maximum Month End Balance | $81,405 | $58,471 | $81,405 | $58,584 |
Quarter to Date Average Balance | 78,148 | 57,983 | 69,224 | 55,721 |
Weighted Average Interest Rate During the Period | 0.15% | 0.20% | 0.15% | 0.20% |
Federal funds purchased [Member] | ' | ' | ' | ' |
Summary of short term borrowings | ' | ' | ' | ' |
Maximum Month End Balance | 6,300 | 15,000 | 13,700 | 17,900 |
Quarter to Date Average Balance | $5,052 | $5,848 | $4,133 | $4,327 |
Weighted Average Interest Rate During the Period | 0.62% | 0.46% | 0.57% | 0.41% |
Borrowed_Funds_Pledged_certifi
Borrowed Funds (Pledged certificates of deposit) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Summary of pledged certificates of deposit | ' | ' |
Pledged to secure borrowed funds | $304,224 | $308,628 |
Pledged to secure repurchase agreements | 139,082 | 143,322 |
Pledged for public deposits and for other purposes necessary or required by law | 21,595 | 22,955 |
Total | $464,901 | $474,905 |
Borrowed_Funds_Narrative_Detai
Borrowed Funds (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
Without stated maturity dates [Member] | Without stated maturity dates [Member] | |||||
Maximum [Member] | Minimum [Member] | |||||
Borrowed Funds (Textual) [Abstract] | ' | ' | ' | ' | ' | ' |
Maturity of securities sold under agreements to repurchase without stated maturity dates | ' | ' | ' | ' | '4 days | '1 day |
Borrowed Funds (Additional Textual) [Abstract] | ' | ' | ' | ' | ' | ' |
Additional borrowing capacity | ' | ' | $84,966 | ' | ' | ' |
Advances From Federal Home Loan Bank | 30,000 | 60,000 | ' | ' | ' | ' |
Fair value of securities sold under agreements to repurchase | ' | ' | 139,082 | 143,322 | ' | ' |
Investment securities restricted to be pledged | ' | ' | $0 | $0 | ' | ' |
Other_Noninterest_Expenses_Exp
Other Noninterest Expenses (Expenses included in other noninterest expenses) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Summary of expenses included in other noninterest expenses | ' | ' | ' | ' |
Marketing and community relations | $271 | $610 | $945 | $1,639 |
FDIC insurance premiums | 267 | 218 | 812 | 646 |
Directors fees | 203 | 235 | 607 | 654 |
Audit and related fees | 189 | 179 | 490 | 509 |
Education and travel | 110 | 112 | 348 | 378 |
Loan Underwriting Fees | 97 | 89 | 336 | 272 |
Postage and freight | 103 | 105 | 296 | 300 |
Printing and supplies | 106 | 91 | 291 | 310 |
Legal fees | 87 | 50 | 267 | 193 |
Consulting fees | 68 | 92 | 223 | 350 |
Other | 500 | 455 | 1,533 | 1,431 |
Total other | $2,001 | $2,236 | $6,148 | $6,682 |
Federal_Income_Taxes_Reconcili
Federal Income Taxes (Reconciliation of the provision for federal income taxes) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Summary of federal income tax expense | ' | ' | ' | ' |
Income taxes at 34% statutory rate | $1,347 | $1,481 | $3,903 | $4,093 |
Effect of nontaxable income | ' | ' | ' | ' |
Interest income on tax exempt municipal securities | -411 | -391 | -1,212 | -1,170 |
Earnings on corporate owned life insurance policies | -63 | -58 | -185 | -176 |
Other | -217 | -147 | -667 | -439 |
Total effect of nontaxable income | -691 | -596 | -2,064 | -1,785 |
Effect of nondeductible expenses | 18 | 14 | 54 | 36 |
Federal income tax expense | $674 | $899 | $1,893 | $2,344 |
Federal_Income_Taxes_Summary_o
Federal Income Taxes (Summary of OCI) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Summary of other comprehensive income (loss) | ' | ' | ' | ' | ||||
Unrealized gains (losses) arising during the period | $665 | $2,990 | ($13,293) | $5,209 | ||||
Reclassification adjustment for net realized (gains) losses included in net income | -72 | -116 | -171 | -1,119 | ||||
Reclassification adjustment for impairment loss included in net income | 0 | 0 | 0 | 282 | ||||
Net unrealized gains (losses) | 593 | 2,874 | -13,464 | 4,372 | ||||
Tax effect | -447 | [1] | -763 | [1] | 4,455 | [1] | -790 | [1] |
Unrealized gains (losses), net of tax | 146 | 2,111 | -9,009 | 3,582 | ||||
Auction Rate Money Market Preferred and Preferred Stocks [Member] | ' | ' | ' | ' | ||||
Summary of other comprehensive income (loss) | ' | ' | ' | ' | ||||
Unrealized gains (losses) arising during the period | -653 | 630 | -358 | 2,049 | ||||
Reclassification adjustment for net realized (gains) losses included in net income | 0 | 0 | 0 | 0 | ||||
Reclassification adjustment for impairment loss included in net income | 0 | 0 | 0 | 0 | ||||
Net unrealized gains (losses) | -653 | 630 | -358 | 2,049 | ||||
Tax effect | 0 | 0 | 0 | 0 | ||||
Unrealized gains (losses), net of tax | -653 | 630 | -358 | 2,049 | ||||
All Other AFS Securities [Member] | ' | ' | ' | ' | ||||
Summary of other comprehensive income (loss) | ' | ' | ' | ' | ||||
Unrealized gains (losses) arising during the period | 1,318 | 2,360 | -12,935 | 3,160 | ||||
Reclassification adjustment for net realized (gains) losses included in net income | -72 | -116 | -171 | -1,119 | ||||
Reclassification adjustment for impairment loss included in net income | 0 | 0 | 0 | 282 | ||||
Net unrealized gains (losses) | 1,246 | 2,244 | -13,106 | 2,323 | ||||
Tax effect | -447 | -763 | 4,455 | -790 | ||||
Unrealized gains (losses), net of tax | $799 | $1,481 | ($8,651) | $1,533 | ||||
[1] | See “Note 13 – Accumulated Other Comprehensive Income (Loss)†for tax effect reconciliation. |
Federal_Income_Taxes_Narrative
Federal Income Taxes (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Federal Income Taxes (Textual) [Abstract] | ' |
Federal statutory tax rate | 34.00% |
Defined_Benefit_Pension_Plan_C
Defined Benefit Pension Plan (Components of net periodic benefit cost) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Components of net periodic benefit cost | ' | ' | ' | ' |
Interest cost on PBO | $113 | $118 | $338 | $353 |
Expected return on plan assets | -143 | -127 | -430 | -381 |
Amortization of unrecognized actuarial net loss | 83 | 73 | 248 | 219 |
Net periodic benefit cost | $53 | $64 | $156 | $191 |
Defined_Benefit_Pension_Plan_N
Defined Benefit Pension Plan (Narrative) (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Defined Benefit Pension Plan (Textual) [Abstract] | ' | ' |
Defined benefit pension plan, effective curtailment date | 1-Mar-07 | ' |
Contribution to the pension plan by corporation | $215 | $709 |
Fair_Value_Quantitative_inform
Fair Value (Quantitative information about impaired loans) (Details) (Impaired Loans [Member], Level 3 [Member], USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Discounted cash flow [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Discounted cash flow fair value | $9,452 | $8,726 |
Valuation Techniques | 'Discounted cash flow | 'Discounted cash flow |
Discounted cash flow [Member] | Maximum [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Duration of cash flows | '120 months | '120 months |
Discounted cash flow [Member] | Maximum [Member] | Reduction in interest rate from original loan terms [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Fair Value Inputs, Discount Rate | 6.38% | 6.25% |
Discounted cash flow [Member] | Minimum [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Duration of cash flows | '5 months | '14 months |
Discounted cash flow [Member] | Minimum [Member] | Reduction in interest rate from original loan terms [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Fair Value Inputs, Discount Rate | 5.00% | 5.00% |
Discounted appraisal value [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Discounted appraisal value at fair value | $11,068 | $13,295 |
Discounted appraisal value [Member] | Equipment [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Fair Value Inputs, Discount Rate | 50.00% | 50.00% |
Discounted appraisal value [Member] | Livestock [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Fair Value Inputs, Discount Rate | 50.00% | 50.00% |
Discounted appraisal value [Member] | Cash crop inventory [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Fair Value Inputs, Discount Rate | 50.00% | 50.00% |
Discounted appraisal value [Member] | Other inventory [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Fair Value Inputs, Discount Rate | 75.00% | 75.00% |
Discounted appraisal value [Member] | Accounts receivable [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Fair Value Inputs, Discount Rate | 75.00% | 75.00% |
Discounted appraisal value [Member] | Maximum [Member] | Real Estate [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Fair Value Inputs, Discount Rate | 30.00% | 30.00% |
Discounted appraisal value [Member] | Minimum [Member] | Real Estate [Member] | ' | ' |
Quantitative information about impaired loans measured utilizing Level 3 fair value measurement | ' | ' |
Fair Value Inputs, Discount Rate | 20.00% | 20.00% |
Fair_Value_Quantitative_inform1
Fair Value (Quantitative information related to foreclosed assets) (Details) (Discounted appraisal value [Member], Foreclosed Assets [Member], Level 3 [Member], USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Quantitative information related to foreclosed assets measured utilizing Level 3 fair value measurements | ' | ' |
Discounted appraisal value at fair value | $1,186 | $2,018 |
Valuation Techniques | 'Discounted appraisal value | 'Discounted appraisal value |
Maximum [Member] | Real Estate [Member] | ' | ' |
Quantitative information related to foreclosed assets measured utilizing Level 3 fair value measurements | ' | ' |
Fair Value Inputs, Discount Rate | 30.00% | 30.00% |
Minimum [Member] | Real Estate [Member] | ' | ' |
Quantitative information related to foreclosed assets measured utilizing Level 3 fair value measurements | ' | ' |
Fair Value Inputs, Discount Rate | 20.00% | 20.00% |
Fair_Value_Carrying_amount_and
Fair Value (Carrying amount and estimated fair value of financial instruments) (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | ||||||||
ASSETS | ' | ' | ' | ' | ' | ' | ||
Cash and cash equivalents | $20,255 | ' | $22,634 | ' | ' | ' | ||
Certificates of deposit held in other financial institutions | 2,045 | ' | 4,465 | ' | ' | ' | ||
Mortgage loans AFS | 712 | ' | 3,633 | ' | ' | ' | ||
Total loans | 807,849 | ' | 772,753 | ' | ' | ' | ||
Less allowance for loan losses | -11,600 | -11,700 | -11,936 | -12,062 | -12,318 | -12,375 | ||
Net loans | 796,249 | ' | 760,817 | ' | ' | ' | ||
Accrued interest receivable | 6,584 | ' | 5,227 | ' | ' | ' | ||
Equity securities without readily determinable fair values | 18,353 | ' | 18,118 | ' | ' | ' | ||
LIABILITIES | ' | ' | ' | ' | ' | ' | ||
Borrowed funds | 266,001 | ' | 241,001 | ' | ' | ' | ||
Accrued interest payable | 8,104 | ' | 7,482 | ' | ' | ' | ||
Carrying Value [Member] | ' | ' | ' | ' | ' | ' | ||
ASSETS | ' | ' | ' | ' | ' | ' | ||
Cash and cash equivalents | 21,604 | ' | 24,920 | ' | ' | ' | ||
Certificates of deposit held in other financial institutions | 2,045 | ' | 4,465 | ' | ' | ' | ||
Mortgage loans AFS | 712 | ' | 3,633 | ' | ' | ' | ||
Total loans | 807,849 | ' | 772,753 | ' | ' | ' | ||
Less allowance for loan losses | -11,600 | ' | -11,936 | ' | ' | ' | ||
Net loans | 796,249 | ' | 760,817 | ' | ' | ' | ||
Accrued interest receivable | 6,584 | ' | 5,227 | ' | ' | ' | ||
Equity securities without readily determinable fair values | 18,353 | [1] | ' | 18,118 | [1] | ' | ' | ' |
Originated mortgage servicing rights | 2,659 | ' | 2,285 | ' | ' | ' | ||
LIABILITIES | ' | ' | ' | ' | ' | ' | ||
Deposits without stated maturities | 574,860 | ' | 553,332 | ' | ' | ' | ||
Deposits with stated maturities | 449,071 | ' | 464,335 | ' | ' | ' | ||
Borrowed funds | 266,001 | ' | 241,001 | ' | ' | ' | ||
Accrued interest payable | 713 | ' | 751 | ' | ' | ' | ||
Estimated Fair Value [Member] | ' | ' | ' | ' | ' | ' | ||
ASSETS | ' | ' | ' | ' | ' | ' | ||
Cash and cash equivalents | 21,604 | ' | 24,920 | ' | ' | ' | ||
Certificates of deposit held in other financial institutions | 2,048 | ' | 4,475 | ' | ' | ' | ||
Mortgage loans AFS | 722 | ' | 3,680 | ' | ' | ' | ||
Total loans | 808,884 | ' | 784,964 | ' | ' | ' | ||
Less allowance for loan losses | -11,600 | ' | -11,936 | ' | ' | ' | ||
Net loans | 797,284 | ' | 773,028 | ' | ' | ' | ||
Accrued interest receivable | 6,584 | ' | 5,227 | ' | ' | ' | ||
Equity securities without readily determinable fair values | 18,353 | [1] | ' | 18,118 | [1] | ' | ' | ' |
Originated mortgage servicing rights | 2,732 | ' | 2,285 | ' | ' | ' | ||
LIABILITIES | ' | ' | ' | ' | ' | ' | ||
Deposits without stated maturities | 574,860 | ' | 553,332 | ' | ' | ' | ||
Deposits with stated maturities | 451,336 | ' | 472,630 | ' | ' | ' | ||
Borrowed funds | 268,637 | ' | 248,822 | ' | ' | ' | ||
Accrued interest payable | 713 | ' | 751 | ' | ' | ' | ||
Level 1 [Member] | ' | ' | ' | ' | ' | ' | ||
ASSETS | ' | ' | ' | ' | ' | ' | ||
Cash and cash equivalents | 21,604 | ' | 24,920 | ' | ' | ' | ||
Certificates of deposit held in other financial institutions | 0 | ' | 0 | ' | ' | ' | ||
Mortgage loans AFS | 0 | ' | 0 | ' | ' | ' | ||
Total loans | 0 | ' | 0 | ' | ' | ' | ||
Less allowance for loan losses | 0 | ' | 0 | ' | ' | ' | ||
Net loans | 0 | ' | 0 | ' | ' | ' | ||
Accrued interest receivable | 6,584 | ' | 5,227 | ' | ' | ' | ||
Equity securities without readily determinable fair values | 0 | [1] | ' | 0 | [1] | ' | ' | ' |
Originated mortgage servicing rights | 0 | ' | 0 | ' | ' | ' | ||
LIABILITIES | ' | ' | ' | ' | ' | ' | ||
Deposits without stated maturities | 574,860 | ' | 553,332 | ' | ' | ' | ||
Deposits with stated maturities | 0 | ' | 0 | ' | ' | ' | ||
Borrowed funds | 0 | ' | 0 | ' | ' | ' | ||
Accrued interest payable | 713 | ' | 751 | ' | ' | ' | ||
Level 2 [Member] | ' | ' | ' | ' | ' | ' | ||
ASSETS | ' | ' | ' | ' | ' | ' | ||
Cash and cash equivalents | 0 | ' | 0 | ' | ' | ' | ||
Certificates of deposit held in other financial institutions | 2,048 | ' | 4,475 | ' | ' | ' | ||
Mortgage loans AFS | 722 | ' | 3,680 | ' | ' | ' | ||
Total loans | 0 | ' | 0 | ' | ' | ' | ||
Less allowance for loan losses | 0 | ' | 0 | ' | ' | ' | ||
Net loans | 0 | ' | 0 | ' | ' | ' | ||
Accrued interest receivable | 0 | ' | 0 | ' | ' | ' | ||
Equity securities without readily determinable fair values | 0 | [1] | ' | 0 | [1] | ' | ' | ' |
Originated mortgage servicing rights | 2,732 | ' | 2,285 | ' | ' | ' | ||
LIABILITIES | ' | ' | ' | ' | ' | ' | ||
Deposits without stated maturities | 0 | ' | 0 | ' | ' | ' | ||
Deposits with stated maturities | 451,336 | ' | 472,630 | ' | ' | ' | ||
Borrowed funds | 268,637 | ' | 248,822 | ' | ' | ' | ||
Accrued interest payable | 0 | ' | 0 | ' | ' | ' | ||
Level 3 [Member] | ' | ' | ' | ' | ' | ' | ||
ASSETS | ' | ' | ' | ' | ' | ' | ||
Cash and cash equivalents | 0 | ' | 0 | ' | ' | ' | ||
Certificates of deposit held in other financial institutions | 0 | ' | 0 | ' | ' | ' | ||
Mortgage loans AFS | 0 | ' | 0 | ' | ' | ' | ||
Total loans | 808,884 | ' | 784,964 | ' | ' | ' | ||
Less allowance for loan losses | -11,600 | ' | -11,936 | ' | ' | ' | ||
Net loans | 797,284 | ' | 773,028 | ' | ' | ' | ||
Accrued interest receivable | 0 | ' | 0 | ' | ' | ' | ||
Equity securities without readily determinable fair values | 0 | [1] | ' | 0 | [1] | ' | ' | ' |
Originated mortgage servicing rights | 0 | ' | 0 | ' | ' | ' | ||
LIABILITIES | ' | ' | ' | ' | ' | ' | ||
Deposits without stated maturities | 0 | ' | 0 | ' | ' | ' | ||
Deposits with stated maturities | 0 | ' | 0 | ' | ' | ' | ||
Borrowed funds | 0 | ' | 0 | ' | ' | ' | ||
Accrued interest payable | $0 | ' | $0 | ' | ' | ' | ||
[1] | Due to the characteristics of equity securities without readily determinable fair values, they are not disclosed under a specific fair value hierarchy. If we were to record an impairment adjustment related to these securities, such amount would be classified as a nonrecurring Level 3 fair value adjustment. |
Fair_Value_Recorded_amount_of_
Fair Value (Recorded amount of assets and liabilities measured at fair value) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
AFS Securities | ' | ' |
Securities available for sale | $501,057 | $504,010 |
Fair value, total | 523,508 | 529,622 |
Level 1 [Member] | ' | ' |
AFS Securities | ' | ' |
Fair value, total | 6,144 | 6,363 |
Percent of assets and liabilities measured at fair value | 1.17% | 1.20% |
Level 2 [Member] | ' | ' |
AFS Securities | ' | ' |
Fair value, total | 495,658 | 499,220 |
Percent of assets and liabilities measured at fair value | 94.68% | 94.26% |
Level 3 [Member] | ' | ' |
AFS Securities | ' | ' |
Fair value, total | 21,706 | 24,039 |
Percent of assets and liabilities measured at fair value | 4.15% | 4.54% |
Recurring items [Member] | ' | ' |
Trading securities | ' | ' |
Trading securities States and political subdivisions | 745 | 1,573 |
AFS Securities | ' | ' |
Securities available for sale | 501,057 | 504,010 |
Recurring items [Member] | Government sponsored enterprises [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 24,155 | 25,776 |
Recurring items [Member] | States and political subdivisions [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 193,786 | 182,743 |
Recurring items [Member] | Auction rate money market preferred [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 2,639 | 2,778 |
Recurring items [Member] | Preferred stock [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 6,144 | 6,363 |
Recurring items [Member] | Mortgage-backed [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 146,393 | 155,345 |
Recurring items [Member] | Collateralized mortgage obligations [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 127,940 | 131,005 |
Recurring items [Member] | Level 1 [Member] | ' | ' |
Trading securities | ' | ' |
Trading securities States and political subdivisions | 0 | 0 |
AFS Securities | ' | ' |
Securities available for sale | 6,144 | 6,363 |
Recurring items [Member] | Level 1 [Member] | Government sponsored enterprises [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 1 [Member] | States and political subdivisions [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 1 [Member] | Auction rate money market preferred [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 1 [Member] | Preferred stock [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 6,144 | 6,363 |
Recurring items [Member] | Level 1 [Member] | Mortgage-backed [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 1 [Member] | Collateralized mortgage obligations [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 2 [Member] | ' | ' |
Trading securities | ' | ' |
Trading securities States and political subdivisions | 745 | 1,573 |
AFS Securities | ' | ' |
Securities available for sale | 494,913 | 497,647 |
Recurring items [Member] | Level 2 [Member] | Government sponsored enterprises [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 24,155 | 25,776 |
Recurring items [Member] | Level 2 [Member] | States and political subdivisions [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 193,786 | 182,743 |
Recurring items [Member] | Level 2 [Member] | Auction rate money market preferred [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 2,639 | 2,778 |
Recurring items [Member] | Level 2 [Member] | Preferred stock [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 2 [Member] | Mortgage-backed [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 146,393 | 155,345 |
Recurring items [Member] | Level 2 [Member] | Collateralized mortgage obligations [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 127,940 | 131,005 |
Recurring items [Member] | Level 3 [Member] | ' | ' |
Trading securities | ' | ' |
Trading securities States and political subdivisions | 0 | 0 |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 3 [Member] | Government sponsored enterprises [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 3 [Member] | States and political subdivisions [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 3 [Member] | Auction rate money market preferred [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 3 [Member] | Preferred stock [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 3 [Member] | Mortgage-backed [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Recurring items [Member] | Level 3 [Member] | Collateralized mortgage obligations [Member] | ' | ' |
AFS Securities | ' | ' |
Securities available for sale | 0 | 0 |
Nonrecurring items [Member] | ' | ' |
AFS Securities | ' | ' |
Impaired loans (net of the allowance for loan losses) | 20,520 | 22,021 |
Foreclosed assets | 1,186 | 2,018 |
Nonrecurring items [Member] | Level 1 [Member] | ' | ' |
AFS Securities | ' | ' |
Impaired loans (net of the allowance for loan losses) | 0 | 0 |
Foreclosed assets | 0 | 0 |
Nonrecurring items [Member] | Level 2 [Member] | ' | ' |
AFS Securities | ' | ' |
Impaired loans (net of the allowance for loan losses) | 0 | 0 |
Foreclosed assets | 0 | 0 |
Nonrecurring items [Member] | Level 3 [Member] | ' | ' |
AFS Securities | ' | ' |
Impaired loans (net of the allowance for loan losses) | 20,520 | 22,021 |
Foreclosed assets | $1,186 | $2,018 |
Fair_Value_Changes_in_fair_val
Fair Value (Changes in fair value of assets and liabilities) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Changes in fair value of assets and liabilities recorded at fair value | ' | ' | ' | ' |
Trading securities | ' | ' | $23 | $41 |
Total | -44 | -9 | -154 | -25 |
Recurring items [Member] | ' | ' | ' | ' |
Changes in fair value of assets and liabilities recorded at fair value | ' | ' | ' | ' |
Trading securities | -5 | -9 | -23 | -41 |
Borrowed funds | 0 | 0 | 0 | 33 |
Nonrecurring items [Member] | ' | ' | ' | ' |
Changes in fair value of assets and liabilities recorded at fair value | ' | ' | ' | ' |
Foreclosed assets | -39 | 0 | -131 | -17 |
Trading Losses [Member] | ' | ' | ' | ' |
Changes in fair value of assets and liabilities recorded at fair value | ' | ' | ' | ' |
Total | -5 | -9 | -23 | -41 |
Trading Losses [Member] | Recurring items [Member] | ' | ' | ' | ' |
Changes in fair value of assets and liabilities recorded at fair value | ' | ' | ' | ' |
Trading securities | -5 | -9 | -23 | -41 |
Borrowed funds | 0 | 0 | 0 | 0 |
Trading Losses [Member] | Nonrecurring items [Member] | ' | ' | ' | ' |
Changes in fair value of assets and liabilities recorded at fair value | ' | ' | ' | ' |
Foreclosed assets | 0 | 0 | 0 | 0 |
Other Gains and (Losses) [Member] | ' | ' | ' | ' |
Changes in fair value of assets and liabilities recorded at fair value | ' | ' | ' | ' |
Total | -39 | 0 | -131 | 16 |
Other Gains and (Losses) [Member] | Recurring items [Member] | ' | ' | ' | ' |
Changes in fair value of assets and liabilities recorded at fair value | ' | ' | ' | ' |
Trading securities | 0 | 0 | 0 | 0 |
Borrowed funds | 0 | 0 | 0 | 33 |
Other Gains and (Losses) [Member] | Nonrecurring items [Member] | ' | ' | ' | ' |
Changes in fair value of assets and liabilities recorded at fair value | ' | ' | ' | ' |
Foreclosed assets | ($39) | $0 | ($131) | ($17) |
Fair_Value_Narrative_Details_T
Fair Value (Narrative) (Details Textual) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Fair Value (Additional Textual) [Abstract] | ' | ' |
Maturity dates of Interest bearing balances | '3 years | ' |
Maturity dates of borrowed funds | '90 days | ' |
Level 3 [Member] | ' | ' |
Fair Value (Textual) [Abstract] | ' | ' |
Impairments recorded on equity securities without readily determinable fair values | $0 | $0 |
Impairments recorded on goodwill and other acquisition intangibles | $0 | $0 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Changes in AOCI by component) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ($4,148) | $3,960 | $5,007 | $2,489 |
OCI before reclassifications | 665 | 2,990 | -13,293 | 5,209 |
Amounts reclassified from AOCI | -72 | -116 | -171 | -837 |
Subtotal | 593 | 2,874 | -13,464 | 4,372 |
Tax effect | -447 | -763 | 4,455 | -790 |
Other comprehensive income (loss) | 146 | 2,111 | -9,009 | 3,582 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -4,002 | 6,071 | -4,002 | 6,071 |
Unrealized Holding Gains (Losses) on AFS Securities [Member] | ' | ' | ' | ' |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -477 | 7,413 | 8,678 | 5,942 |
OCI before reclassifications | 665 | 2,990 | -13,293 | 5,209 |
Amounts reclassified from AOCI | -72 | -116 | -171 | -837 |
Subtotal | 593 | 2,874 | -13,464 | 4,372 |
Tax effect | -447 | -763 | 4,455 | -790 |
Other comprehensive income (loss) | 146 | 2,111 | -9,009 | 3,582 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -331 | 9,524 | -331 | 9,524 |
Defined Benefit Pension Plan [Member] | ' | ' | ' | ' |
Increase (Decrease) in Accumulated Other Comprehensive Income [Roll Forward] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -3,671 | -3,453 | -3,671 | -3,453 |
OCI before reclassifications | 0 | 0 | 0 | 0 |
Amounts reclassified from AOCI | 0 | 0 | 0 | 0 |
Subtotal | 0 | 0 | 0 | 0 |
Tax effect | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ($3,671) | ($3,453) | ($3,671) | ($3,453) |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Reclassification adjustments) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Gain (loss) on sale of AFS securities | $72 | $116 | $171 | $1,119 |
Net AFS impairment loss | 0 | 0 | 0 | -282 |
Income before federal income tax expense | 3,960 | 4,356 | 11,479 | 12,039 |
Federal income tax expense | 674 | 899 | 1,893 | 2,344 |
NET INCOME | 3,286 | 3,457 | 9,586 | 9,695 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Holding Gains (Losses) on AFS Securities [Member] | ' | ' | ' | ' |
Reclassification out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Gain (loss) on sale of AFS securities | 72 | 116 | 171 | 1,119 |
Net AFS impairment loss | 0 | 0 | 0 | -282 |
Income before federal income tax expense | 72 | 116 | 171 | 837 |
Federal income tax expense | 24 | 39 | 58 | 285 |
NET INCOME | $48 | $77 | $113 | $552 |
Accumulated_Other_Comprehensiv4
Accumulated Other Comprehensive Income (Narrative) (Details) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Equity [Abstract] | ' |
Deferred Federal Income Taxes Related to Unrealized Holding Gain or Loss Expected | $0 |
Parent_Company_Only_Financial_2
Parent Company Only Financial Information (Interim Condensed Balance Sheets) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ' | ' |
Securities available for sale | $501,057 | $504,010 | ' | ' |
Premises and equipment | 26,018 | 25,787 | ' | ' |
Other assets | 15,400 | 12,784 | ' | ' |
TOTAL ASSETS | 1,459,341 | 1,430,639 | ' | ' |
LIABILITIES AND SHAREHOLDERS' EQUITY | ' | ' | ' | ' |
Shareholders' equity | 161,305 | 164,489 | 164,147 | 154,783 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 1,459,341 | 1,430,639 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash on deposit at subsidiary Bank | 418 | 332 | ' | ' |
Securities available for sale | 3,527 | 3,939 | ' | ' |
Investments in subsidiaries | 113,002 | 115,781 | ' | ' |
Premises and equipment | 2,045 | 2,041 | ' | ' |
Other assets | 52,454 | 52,398 | ' | ' |
TOTAL ASSETS | 171,446 | 174,491 | ' | ' |
LIABILITIES AND SHAREHOLDERS' EQUITY | ' | ' | ' | ' |
Other liabilities | 10,141 | 10,002 | ' | ' |
Shareholders' equity | 161,305 | 164,489 | ' | ' |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $171,446 | $174,491 | ' | ' |
Parent_Company_Only_Financial_3
Parent Company Only Financial Information (Interim Condensed Statements of Income) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income | ' | ' | ' | ' |
Interest income | $10,769 | $10,925 | $32,135 | $32,184 |
Expenses | ' | ' | ' | ' |
Occupancy and equipment | 676 | 649 | 1,982 | 1,889 |
Audit fees | 87 | 50 | 267 | 193 |
Other | 2,001 | 2,236 | 6,148 | 6,682 |
Income before federal income tax expense | 3,960 | 4,356 | 11,479 | 12,039 |
Federal income tax benefit | -674 | -899 | -1,893 | -2,344 |
NET INCOME | 3,286 | 3,457 | 9,586 | 9,695 |
Parent Company [Member] | ' | ' | ' | ' |
Income | ' | ' | ' | ' |
Dividends from subsidiaries | 1,500 | 1,500 | 4,500 | 4,625 |
Interest income | 39 | 42 | 123 | 131 |
Management fee and other | 637 | 581 | 1,704 | 1,547 |
Total income | 2,176 | 2,123 | 6,327 | 6,303 |
Expenses | ' | ' | ' | ' |
Compensation and benefits | 680 | 596 | 2,061 | 1,810 |
Occupancy and equipment | 132 | 91 | 362 | 273 |
Audit fees | 98 | 98 | 256 | 273 |
Other | 230 | 220 | 731 | 717 |
Total expenses | 1,140 | 1,005 | 3,410 | 3,073 |
Income before federal income tax expense | 1,036 | 1,118 | 2,917 | 3,230 |
Federal income tax benefit | 161 | 136 | 549 | 493 |
Undistributed earnings of subsidiaries | 2,089 | 2,203 | 6,120 | 5,972 |
NET INCOME | $3,286 | $3,457 | $9,586 | $9,695 |
Parent_Company_Only_Financial_4
Parent Company Only Financial Information (Interim Condensed Statements of Cash Flows) (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
OPERATING ACTIVITIES | ' | ' |
Net income | $9,586 | $9,695 |
Adjustments to reconcile net income to cash provided by operations | ' | ' |
Share-based payment awards | 423 | 496 |
Depreciation | 1,903 | 1,802 |
Changes in operating assets and liabilities which used cash | ' | ' |
Other assets | 319 | -1,938 |
Accrued interest and other liabilities | 622 | 78 |
Net cash provided by (used in) operating activities | 17,746 | 14,860 |
INVESTING ACTIVITIES | ' | ' |
Purchases of equipment and premises | -2,134 | -2,647 |
Net cash provided by (used in) investing activities | -48,142 | -56,181 |
FINANCING ACTIVITIES | ' | ' |
Net increase (decrease) in other borrowed funds | 25,000 | 10,477 |
Cash dividends paid on common stock | -4,838 | -4,553 |
Proceeds from the issuance of common stock | 2,754 | 2,025 |
Common stock repurchased | -1,815 | -1,520 |
Common stock purchased for deferred compensation obligations | -285 | -361 |
Net cash provided by (used in) financing activities | 27,080 | 37,395 |
Increase (decrease) in cash and cash equivalents | -3,316 | -3,926 |
Cash and cash equivalents at beginning of period | 24,920 | 28,590 |
Cash and cash equivalents at end of period | 21,604 | 24,664 |
Parent Company [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Net income | 9,586 | 9,695 |
Adjustments to reconcile net income to cash provided by operations | ' | ' |
Undistributed earnings of subsidiaries | -6,120 | -5,972 |
Undistributed earnings of equity securities without readily determinable fair values | 14 | 0 |
Share-based payment awards | 423 | 496 |
Depreciation | 136 | 84 |
Net amortization of AFS securities | 1 | 3 |
Changes in operating assets and liabilities which used cash | ' | ' |
Other assets | -65 | -363 |
Accrued interest and other liabilities | 939 | -224 |
Net cash provided by (used in) operating activities | 4,914 | 3,719 |
INVESTING ACTIVITIES | ' | ' |
Maturities, calls, and sales of AFS securities | 395 | 370 |
Purchases of equipment and premises | -140 | -112 |
Repayment of advances to subsidiaries | -99 | -50 |
Net cash provided by (used in) investing activities | 156 | 208 |
FINANCING ACTIVITIES | ' | ' |
Net increase (decrease) in other borrowed funds | -800 | -297 |
Cash dividends paid on common stock | -4,838 | -4,553 |
Proceeds from the issuance of common stock | 2,754 | 2,025 |
Common stock repurchased | -1,815 | -1,520 |
Common stock purchased for deferred compensation obligations | -285 | -361 |
Net cash provided by (used in) financing activities | -4,984 | -4,706 |
Increase (decrease) in cash and cash equivalents | 86 | -779 |
Cash and cash equivalents at beginning of period | 332 | 1,474 |
Cash and cash equivalents at end of period | $418 | $695 |
Operating_Segments_Narrative_D
Operating Segments (Narrative) (Details) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Operating Segments (Textual) [Abstract] | ' | ' |
Minimum percentage of reportable segments net operating results | 10.00% | ' |
Maximum percentage of reportable segments total assets and operating results | 90.00% | 90.00% |