Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 30, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Amendment Flag | FALSE | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2015 | |
Entity Registrant Name | EVANS BANCORP INC | |
Entity Central Index Key | 842518 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 4,231,416 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and due from banks | $14,661 | $8,784 |
Interest-bearing deposits at banks | 46,033 | 2,114 |
Securities: | ||
Available for sale, at fair value (amortized cost: $96,367 at March 31, 2015; $94,048 at December 31, 2014) | 98,393 | 95,533 |
Held to maturity, at amortized cost (fair value: $1,576 at March 31, 2015; $1,574 at December 31, 2014) | 1,588 | 1,599 |
Federal Home Loan Bank common stock, at amortized cost | 822 | 1,439 |
Federal Reserve Bank common stock, at amortized cost | 1,486 | 1,486 |
Loans, net of allowance for loan losses of $12,777 at March 31, 2015 and $12,533 at December 31, 2014 | 688,961 | 683,131 |
Properties and equipment, net of accumulated depreciation of $15,390 at March 31, 2015 and $15,129 at December 31, 2014 | 10,074 | 10,224 |
Goodwill | 8,101 | 8,101 |
Bank-owned life insurance | 20,552 | 20,415 |
Other assets | 13,681 | 13,983 |
TOTAL ASSETS | 904,352 | 846,809 |
LIABILITIES | ||
Demand deposits | 169,965 | 158,631 |
NOW deposits | 82,956 | 72,670 |
Regular savings deposits | 416,317 | 363,542 |
Time deposits | 111,120 | 112,792 |
Total deposits | 780,358 | 707,635 |
Securities sold under agreement to repurchase | 10,673 | 13,778 |
Other short term borrowings | 13,700 | |
Other liabilities | 15,290 | 14,578 |
Junior subordinated debentures | 11,330 | 11,330 |
Total liabilities | 817,651 | 761,021 |
CONTINGENT LIABILITIES AND COMMITMENTS | ||
STOCKHOLDERS' EQUITY: | ||
Common stock, $.50 par value, 10,000,000 shares authorized; 4,244,591 and 4,241,797 shares issued at March 31, 2015 and December 31, 2014, respectively, and 4,230,895 and 4,203,684 outstanding at March 31, 2015 and December 31, 2014, respectively | 2,123 | 2,123 |
Capital surplus | 42,682 | 43,102 |
Treasury stock, at cost, 13,696 shares and 38,113 at March 31, 2015 and December 31, 2014, respectively | -166 | -751 |
Retained earnings | 43,210 | 42,822 |
Accumulated other comprehensive loss, net of tax | -1,148 | -1,508 |
Total stockholders' equity | 86,701 | 85,788 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $904,352 | $846,809 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ||
Available for sale, cost | $96,367 | $94,048 |
Held to maturity, fair value | 1,576 | 1,574 |
Allowance for loan and lease losses | 12,777 | 12,533 |
Properties and equipment, accumulated depreciation | $15,390 | $15,129 |
Common stock, par value | $0.50 | $0.50 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 4,244,591 | 4,241,797 |
Common stock, shares outstanding | 4,230,895 | 4,203,684 |
Treasury stock shares | 13,696 | 38,113 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
INTEREST INCOME | ||
Loans | $7,813 | $7,510 |
Interest bearing deposits at banks | 1 | 15 |
Securities: | ||
Taxable | 405 | 449 |
Non-taxable | 237 | 245 |
Total interest income | 8,456 | 8,219 |
INTEREST EXPENSE | ||
Deposits | 781 | 756 |
Other borrowings | 15 | 86 |
Junior subordinated debentures | 79 | 79 |
Total interest expense | 875 | 921 |
NET INTEREST INCOME | 7,581 | 7,298 |
PROVISION (CREDIT) FOR LOAN LOSSES | 201 | 153 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 7,380 | 7,145 |
NON-INTEREST INCOME | ||
Bank charges | 409 | 461 |
Insurance service and fees | 1,829 | 2,132 |
Data center income | 24 | 107 |
Gain on loans sold | 22 | |
Bank-owned life insurance | 137 | 145 |
Other | 645 | 550 |
Total non-interest income | 3,066 | 3,395 |
NON-INTEREST EXPENSE | ||
Salaries and employee benefits | 4,794 | 4,695 |
Occupancy | 695 | 743 |
Repairs and maintenance | 173 | 176 |
Advertising and public relations | 211 | 222 |
Professional services | 511 | 518 |
Technology and communications | 259 | 300 |
Amortization of intangibles | 41 | |
FDIC insurance | 147 | 162 |
Other | 722 | 761 |
Total non-interest expense | 7,512 | 7,618 |
INCOME BEFORE INCOME TAXES | 2,934 | 2,922 |
INCOME TAX PROVISION | 1,029 | 909 |
NET INCOME | $1,905 | $2,013 |
Net income per common share-basic | $0.45 | $0.48 |
Net income per common share-diluted | $0.44 | $0.47 |
Cash dividends per common share | $0.36 | $0.31 |
Weighted average number of common shares outstanding | 4,213,509 | 4,200,519 |
Weighted average number of diluted shares outstanding | 4,291,676 | 4,284,016 |
Statements_Of_Consolidated_Com
Statements Of Consolidated Comprehensive Income (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statements Of Consolidated Comprehensive Income [Abstract] | ||
NET INCOME | $1,905 | $2,013 |
Unrealized gain on available-for-sale securities: | ||
Unrealized gain on available-for-sale securities | 331 | 361 |
Less: Reclassification of gain on sale of securities | ||
Net change, Net-of-Tax Amount | 331 | 361 |
Defined benefit pension plans: | ||
Amortization of prior service cost | 5 | 5 |
Amortization of actuarial assumptions | 24 | 16 |
Total | 29 | 21 |
OTHER COMPREHENSIVE INCOME, NET OF TAX | 360 | 382 |
COMPREHENSIVE INCOME | $2,265 | $2,395 |
Consolidated_Statements_Of_Cha
Consolidated Statements Of Changes In Stockholdersb Equity (USD $) | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
In Thousands | ||||||
Balance at Dec. 31, 2013 | $2,106 | $42,619 | $37,370 | ($1,263) | ($120) | $80,712 |
Net income | 2,013 | 2,013 | ||||
Other comprehensive income | 382 | 382 | ||||
Cash dividends | -1,305 | -1,305 | ||||
Stock options and restricted stock expense | 99 | 99 | ||||
Excess tax expense from stock-based compensation | 21 | 21 | ||||
Issued restricted shares | 2 | -2 | ||||
Repurchased shares in Treasury stock | -1,436 | -1,436 | ||||
Reissued shares in stock option exercise | -27 | 58 | 31 | |||
Balance at Mar. 31, 2014 | 2,108 | 42,710 | 38,078 | -881 | -1,498 | 80,517 |
Balance at Dec. 31, 2014 | 2,123 | 43,102 | 42,822 | -1,508 | -751 | 85,788 |
Net income | 1,905 | 1,905 | ||||
Other comprehensive income | 360 | 360 | ||||
Cash dividends | -1,517 | -1,517 | ||||
Stock options and restricted stock expense | 117 | 117 | ||||
Excess tax benefit from stock-based compensation | -14 | -14 | ||||
Issued restricted shares | -503 | 503 | ||||
Repurchased shares in Treasury stock | -34 | -34 | ||||
Reissued shares in stock option exercise | -48 | 116 | 68 | |||
Balance at Mar. 31, 2015 | $2,123 | $42,682 | $43,210 | ($1,148) | ($166) | $86,701 |
Consolidated_Statements_Of_Cha1
Consolidated Statements Of Changes In Stockholdersb Equity (Parenthetical) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Consolidated Statements Of Changes In Stockholdersb Equity [Abstract] | ||
Cash dividends per common share | $0.36 | $0.31 |
Restricted shares issued | 3,017 | |
Shares repurchased | 1,397 | 59,800 |
Reissued restricted shares | 20,942 | |
Shares reissued in stock options exercise | 4,872 | 3,087 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
OPERATING ACTIVITIES: | ||
Interest received | $8,256 | $8,105 |
Fees received | 2,779 | 3,388 |
Interest paid | -896 | -937 |
Cash paid to employees and vendors | -7,804 | -8,368 |
Income taxes paid | -1 | -960 |
Proceeds from sale of loans held for resale | 2,658 | |
Originations of loans held for resale | -4,995 | -123 |
Net cash (used in) provided by operating activities | -3 | 1,105 |
INVESTING ACTIVITIES: | ||
Purchases of available for sale securities | -4,244 | |
Proceeds from maturities, calls, and payments of available for sale securities | 2,451 | 5,543 |
Proceeds from maturities, calls, and payments of held to maturity securities | 11 | 11 |
Additions to properties and equipment | -111 | -226 |
Purchase of tax credit investment | -667 | |
Net increase in loans | -3,595 | -13,493 |
Net cash (used in) provided by investing activities | -6,155 | -8,165 |
FINANCING ACTIVITIES: | ||
Proceeds from (repayments of) borrowings, net | -16,803 | -1,977 |
Net increase in deposits | 72,723 | 15,333 |
Repurchase of treasury stock | -34 | -1,436 |
Reissuance of treasury stock | 68 | 31 |
Net cash provided by financing activities | 55,954 | 11,951 |
Net increase in cash and equivalents | 49,796 | 4,891 |
CASH AND CASH EQUIVALENTS: | ||
Beginning of period | 10,898 | 41,954 |
End of period | 60,694 | 46,845 |
RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES: | ||
Net income | 1,905 | 2,013 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 356 | 422 |
Deferred tax (benefit) expense | 42 | -13 |
Provision for loan losses | 201 | 153 |
Gain on loans sold | -22 | |
Stock options and restricted stock expense | 117 | 99 |
Proceeds from sale of loans held for resale | 2,658 | |
Originations of loans held for resale | -4,995 | -123 |
Changes in assets and liabilities affecting cash flow: | ||
Other assets | 327 | -377 |
Other liabilities | -592 | -1,069 |
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES | ($3) | $1,105 |
Organization_And_Summary_Of_Si
Organization And Summary Of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2015 | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Organization And Summary Of Significant Accounting Policies | |
1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
The accounting and reporting policies followed by Evans Bancorp, Inc. (the “Company”), a financial holding company, and its two direct, wholly-owned subsidiaries: (i) Evans Bank, National Association (the “Bank”), and the Bank’s subsidiaries, Evans National Leasing, Inc. (“ENL”), Evans National Holding Corp. (“ENHC”) and Suchak Data Systems, LLC (“SDS”); and (ii) Evans National Financial Services, LLC (“ENFS”), and ENFS’s subsidiary, The Evans Agency, LLC (“TEA”), and TEA’s subsidiaries, Frontier Claims Services, Inc. (“FCS”) and ENB Associates Inc. (“ENBA”), in the preparation of the accompanying interim unaudited consolidated financial statements conform with U.S. generally accepted accounting principles (“GAAP”) and with general practice within the industries in which it operates. Except as the context otherwise requires, the Company and its direct and indirect subsidiaries are collectively referred to in this report as the “Company.” | |
The accompanying consolidated financial statements are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of the Company’s financial position and results of operations for the interim periods have been made. During the three month period ended March 31, 2015, the Company revised the unaudited Consolidated Statement of Cash Flows for the three month period ended March 31, 2014 to correct errors of a $40 thousand increase within “Depreciation and amortization”, $236 thousand increase within “Change in other assets affecting cash flow”, and $276 thousand decrease within “Change in other liabilities affecting cash flow” line items. The Company has assessed the materiality of this correction and concluded, based on qualitative and quantitative considerations, in accordance with Staff Accounting Bulletin No. 99, that the adjustments were not material to our previously reported financial statements. | |
The results of operations for the three month periods ended March 31, 2015 are not necessarily indicative of the results to be expected for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements and the Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014. | |
Securities
Securities | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Securities [Abstract] | |||||||||||||||||||
Securities | 2. SECURITIES | ||||||||||||||||||
The amortized cost of securities and their approximate fair value at March 31, 2015 and December 31, 2014 were as follows: | |||||||||||||||||||
31-Mar-15 | |||||||||||||||||||
(in thousands) | |||||||||||||||||||
Amortized | Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||
Available for Sale: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
U.S. government agencies | $ | 26,593 | $ | 388 | $ | -122 | $ | 26,859 | |||||||||||
States and political subdivisions | 30,988 | 969 | -28 | 31,929 | |||||||||||||||
Total debt securities | $ | 57,581 | $ | 1,357 | $ | -150 | $ | 58,788 | |||||||||||
Mortgage-backed securities: | |||||||||||||||||||
FNMA | $ | 14,101 | $ | 578 | $ | - | $ | 14,679 | |||||||||||
FHLMC | 5,620 | 131 | -46 | 5,705 | |||||||||||||||
GNMA | 8,276 | 133 | -9 | 8,400 | |||||||||||||||
CMO | 10,789 | 88 | -56 | 10,821 | |||||||||||||||
Total mortgage-backed securities | $ | 38,786 | $ | 930 | $ | -111 | $ | 39,605 | |||||||||||
Total securities designated as available for sale | $ | 96,367 | $ | 2,287 | $ | -261 | $ | 98,393 | |||||||||||
Held to Maturity: | |||||||||||||||||||
Debt securities | |||||||||||||||||||
States and political subdivisions | $ | 1,588 | $ | 13 | $ | -25 | $ | 1,576 | |||||||||||
Total securities designated as held to maturity | $ | 1,588 | $ | 13 | $ | -25 | $ | 1,576 | |||||||||||
31-Dec-14 | |||||||||||||||||||
(in thousands) | |||||||||||||||||||
Amortized | Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||
Available for Sale: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
U.S. government agencies | $ | 26,687 | $ | 305 | $ | -275 | $ | 26,717 | |||||||||||
States and political subdivisions | 30,182 | 927 | -49 | 31,060 | |||||||||||||||
Total debt securities | $ | 56,869 | $ | 1,232 | $ | -324 | $ | 57,777 | |||||||||||
Mortgage-backed securities: | |||||||||||||||||||
FNMA | $ | 14,653 | $ | 516 | $ | -15 | $ | 15,154 | |||||||||||
FHLMC | 5,901 | 121 | -64 | 5,958 | |||||||||||||||
GNMA | 6,014 | 143 | -27 | 6,130 | |||||||||||||||
CMO | 10,611 | 42 | -139 | 10,514 | |||||||||||||||
Total mortgage-backed securities | $ | 37,179 | $ | 822 | $ | -245 | $ | 37,756 | |||||||||||
Total securities designated as available for sale | $ | 94,048 | $ | 2,054 | $ | -569 | $ | 95,533 | |||||||||||
Held to Maturity: | |||||||||||||||||||
Debt securities | |||||||||||||||||||
States and political subdivisions | $ | 1,599 | $ | 7 | $ | -32 | $ | 1,574 | |||||||||||
Total securities designated as held to maturity | $ | 1,599 | $ | 7 | $ | -32 | $ | 1,574 | |||||||||||
Available for sale securities with a total fair value of $85.6 million and $68.8 million at March 31, 2015 and December 31, 2014, respectively, were pledged as collateral to secure public deposits and for other purposes required or permitted by law. | |||||||||||||||||||
The Company uses the Federal Home Loan Bank of New York (“FHLBNY”) as its primary source of overnight funds and also has several long-term advances with FHLBNY. The Company had no borrowed funds as of March 31, 2015, and had a total of $13.7 million in borrowed funds with FHLBNY at December 31, 2014. The Company has placed sufficient collateral in the form of residential and commercial real estate loans at FHLBNY that meet FHLB collateral requirements. As a member of the Federal Home Loan Bank (“FHLB”) System, the Bank is required to hold stock in FHLBNY. The Bank held $0.8 million and $1.4 million in FHLBNY stock as of March 31, 2015 and December 31, 2014 at amortized cost. The Company regularly evaluates investments in FHLBNY for impairment, considering liquidity, operating performance, capital position, stock repurchase and dividend history. At this time, the Company does not believe any impairment in FHLBNY stock is warranted. | |||||||||||||||||||
The scheduled maturities of debt and mortgage-backed securities at March 31, 2015 and December 31, 2014 are summarized below. All maturity amounts are contractual maturities. Actual maturities may differ from contractual maturities because certain issuers have the right to call or prepay obligations with or without call premiums. | |||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||
Amortized | Estimated | Amortized | Estimated | ||||||||||||||||
cost | fair value | cost | fair value | ||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||
Debt securities available for sale: | |||||||||||||||||||
Due in one year or less | $ | 8,033 | $ | 8,084 | $ | 8,172 | $ | 8,256 | |||||||||||
Due after one year through five years | 23,284 | 23,893 | 22,118 | 22,597 | |||||||||||||||
Due after five years through ten years | 19,310 | 19,590 | 20,517 | 20,589 | |||||||||||||||
Due after ten years | 6,954 | 7,221 | 6,062 | 6,335 | |||||||||||||||
57,581 | 58,788 | 56,869 | 57,777 | ||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||
available for sale | 38,786 | 39,605 | 37,179 | 37,756 | |||||||||||||||
Total available for sale securities | $ | 96,367 | $ | 98,393 | $ | 94,048 | $ | 95,533 | |||||||||||
Debt securities held to maturity: | |||||||||||||||||||
Due in one year or less | $ | 478 | $ | 478 | $ | 478 | $ | 477 | |||||||||||
Due after one year through five years | 66 | 67 | 77 | 78 | |||||||||||||||
Due after five years through ten years | 932 | 924 | 932 | 914 | |||||||||||||||
Due after ten years | 112 | 107 | 112 | 105 | |||||||||||||||
1,588 | 1,576 | 1,599 | 1,574 | ||||||||||||||||
Total held to maturity securities | $ | 1,588 | $ | 1,576 | $ | 1,599 | $ | 1,574 | |||||||||||
Information regarding unrealized losses within the Company’s available for sale securities at March 31, 2015 and December 31, 2014 is summarized below. The securities are primarily U.S. government-guaranteed agency securities or municipal securities. All unrealized losses are considered temporary and related to market interest rate fluctuations. | |||||||||||||||||||
31-Mar-15 | |||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(in thousands) | |||||||||||||||||||
Available for Sale: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
U.S. government agencies | $ | 1,991 | $ | -9 | $ | 5,887 | $ | -113 | $ | 7,878 | $ | -122 | |||||||
States and political subdivisions | 1,989 | -10 | 1,130 | -18 | 3,119 | -28 | |||||||||||||
Total debt securities | $ | 3,980 | $ | -19 | $ | 7,017 | $ | -131 | $ | 10,997 | $ | -150 | |||||||
Mortgage-backed securities: | |||||||||||||||||||
FNMA | $ | - | $ | - | $ | - | - | $ | - | $ | - | $ | - | ||||||
FHLMC | - | - | 1,454 | -46 | 1,454 | -46 | |||||||||||||
GNMA | 1,207 | -1 | 795 | -8 | 2,002 | -9 | |||||||||||||
CMO'S | 1,670 | -4 | 4,232 | -52 | 5,902 | -56 | |||||||||||||
Total mortgage-backed securities | $ | 2,877 | $ | -5 | $ | 6,481 | $ | -106 | $ | 9,358 | $ | -111 | |||||||
Held To Maturity: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
States and political subdivisions | $ | 371 | $ | -1 | $ | 473 | $ | -24 | $ | 844 | $ | -25 | |||||||
Total temporarily impaired | |||||||||||||||||||
securities | $ | 7,228 | $ | -25 | $ | 13,971 | $ | -261 | $ | 21,199 | $ | -286 | |||||||
31-Dec-14 | |||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(in thousands) | |||||||||||||||||||
Available for Sale: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
U.S. government agencies | $ | 3,906 | $ | -26 | $ | 7,751 | $ | -249 | $ | 11,657 | $ | -275 | |||||||
States and political subdivisions | 4,752 | -9 | 1,902 | -40 | 6,654 | -49 | |||||||||||||
Total debt securities | $ | 8,658 | $ | -35 | $ | 9,653 | $ | -289 | $ | 18,311 | $ | -324 | |||||||
Mortgage-backed securities: | |||||||||||||||||||
FNMA | $ | 1,498 | $ | -10 | $ | 1,731 | $ | -5 | $ | 3,229 | $ | -15 | |||||||
FHLMC | - | - | 1,482 | -64 | 1,482 | -64 | |||||||||||||
GNMA | - | - | 2,079 | -27 | 2,079 | -27 | |||||||||||||
CMO'S | 1,722 | -11 | 4,290 | -128 | 6,012 | -139 | |||||||||||||
Total mortgage-backed securities | $ | 3,220 | $ | -21 | $ | 9,582 | $ | -224 | $ | 12,802 | $ | -245 | |||||||
Held To Maturity: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
States and political subdivisions | $ | 371 | $ | -1 | $ | 556 | $ | -31 | $ | 927 | $ | -32 | |||||||
Total temporarily impaired | |||||||||||||||||||
securities | $ | 12,249 | $ | -57 | $ | 19,791 | $ | -544 | $ | 32,040 | $ | -601 | |||||||
Management has assessed the securities available for sale in an unrealized loss position at March 31, 2015 and December 31, 2014 and determined the decline in fair value below amortized cost to be temporary. In making this determination, management considered the period of time the securities were in a loss position, the percentage decline in comparison to the securities’ amortized cost, and the financial condition of the issuer (primarily government or government-sponsored enterprises). In addition, management does not intend to sell these securities and it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost. Management believes the decline in fair value is primarily related to market interest rate fluctuations and not to the credit deterioration of the individual issuers. | |||||||||||||||||||
The Company had not recorded any other-than-temporary impairment (“OTTI”) charges as of March 31, 2015 and did not record any OTTI charges during 2014. Nevertheless, it remains possible that there could be deterioration in the asset quality of the securities portfolio in the future. The credit worthiness of the Company’s portfolio is largely reliant on the ability of U.S. government sponsored agencies such as FHLB, Federal National Mortgage Association (“FNMA”), Government National Mortgage Association (“GNMA”), and Federal Home Loan Mortgage Corporation (“FHLMC”), and municipalities throughout New York State to meet their obligations. In addition, dysfunctional markets could materially alter the liquidity, interest rate, and pricing risk of the portfolio. The relatively stable past performance is not a guarantee for similar performance of the Company’s securities portfolio going forward. | |||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Fair Value Measurements [Abstract] | |||||||||||||
Fair Value Measurements | 3. FAIR VALUE MEASUREMENTS | ||||||||||||
The Company follows the provisions of ASC Topic 820, “Fair Value Measurements and Disclosures.” Those provisions relate to financial assets and liabilities carried at fair value and fair value disclosures related to financial assets and liabilities. ASC Topic 820 defines fair value and specifies a hierarchy of valuation techniques based on the nature of the inputs used to develop the fair value measures. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. | |||||||||||||
There are three levels of inputs to fair value measurements: | |||||||||||||
· | Level 1, meaning the use of quoted prices for identical instruments in active markets; | ||||||||||||
· | Level 2, meaning the use of quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or are directly or indirectly observable; and | ||||||||||||
· | Level 3, meaning the use of unobservable inputs. | ||||||||||||
Observable market data should be used when available. | |||||||||||||
FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A RECURRING BASIS | |||||||||||||
The following table presents for each of the fair-value hierarchy levels as defined in this footnote, those financial instruments which are measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014: | |||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||
31-Mar-15 | |||||||||||||
Securities available-for-sale: | |||||||||||||
U.S. government agencies | $ | - | $ | 26,859 | $ | - | $ | 26,859 | |||||
States and political subdivisions | - | 31,929 | - | 31,929 | |||||||||
Mortgage-backed securities | - | 39,605 | - | 39,605 | |||||||||
Mortgage servicing rights | - | - | 497 | 497 | |||||||||
31-Dec-14 | |||||||||||||
Securities available-for-sale: | |||||||||||||
U.S. government agencies | $ | - | $ | 26,717 | $ | - | $ | 26,717 | |||||
States and political subdivisions | - | 31,060 | - | 31,060 | |||||||||
Mortgage-backed securities | - | 37,756 | - | 37,756 | |||||||||
Mortgage servicing rights | - | - | 518 | 518 | |||||||||
Securities available for sale | |||||||||||||
Fair values for securities are determined using independent pricing services and market-participating brokers. The Company’s independent pricing service utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information for structured securities, cash flow and, when available, loan performance data. Because many fixed income securities do not trade on a daily basis, the evaluated pricing applications apply information as applicable through processes, such as benchmarking of like securities, sector groupings, and matrix pricing, to prepare evaluations. In addition, model processes, such as the Option Adjusted Spread model, are used to assess interest rate impact and develop prepayment scenarios. The models and the process take into account market convention. For each asset class, a team of evaluators gathers information from market sources and integrates relevant credit information, perceived market movements and sector news into the evaluated pricing applications and models. The company’s service provider may occasionally determine that it does have not sufficient verifiable information to value a particular security. In these cases the Company will utilize valuations from another pricing service. | |||||||||||||
Management believes that it has a sufficient understanding of the third party service’s valuation models, assumptions and inputs used in determining the fair value of securities to enable management to maintain an appropriate system of internal control. On a quarterly basis, the Company reviews changes in the market value of its security portfolio. Individual changes in valuations are reviewed for consistency with general interest rate movements and any known credit concerns for specific securities. Additionally, on an annual basis, the Company has its entire security portfolio priced by a second pricing service to determine consistency with another market evaluator. If, on the Company’s review or in comparing with another servicer, a material difference between pricing evaluations were to exist, the Company would submit an inquiry to the service provider regarding the data used to value a particular security. If the Company determines it has market information that would support a different valuation than the initial evaluation it can submit a challenge for a change to that security’s valuation. There were no material differences in valuations noted in the first quarter of 2015 or during fiscal year 2014. | |||||||||||||
Securities available for sale are classified as Level 2 in the fair value hierarchy as the valuation provided by the third-party provider uses observable market data. | |||||||||||||
Mortgage servicing rights | |||||||||||||
Mortgage servicing rights (“MSRs”) do not trade in an active, open market with readily observable prices. Accordingly, the Company obtains the fair value of the MSRs using a third-party pricing provider. The provider determines the fair value by discounting projected net servicing cash flows of the remaining servicing portfolio. The valuation model used by the provider considers market loan prepayment predictions and other economic factors which management considers to be significant unobservable inputs. The fair value of MSRs is mostly affected by changes in mortgage interest rates since rate changes cause the loan prepayment acceleration factors to increase or decrease. Management has a sufficient understanding of the third party service’s valuation models, assumptions and inputs used in determining the fair value of MSRs to enable management to maintain an appropriate system of internal control. Mortgage servicing rights are classified within Level 3 of the fair value hierarchy as the valuation is model driven and primarily based on unobservable inputs. | |||||||||||||
The following table summarizes the changes in fair value for mortgage servicing rights during the three month periods ended March 31, 2015 and 2014, respectively: | |||||||||||||
Three months ended March 31, | |||||||||||||
(in thousands) | 2015 | 2014 | |||||||||||
Mortgage servicing rights - January 1 | $ | 518 | $ | 509 | |||||||||
Gains (losses) included in earnings | -45 | -38 | |||||||||||
Additions from loan sales | 24 | - | |||||||||||
Mortgage servicing rights - March 31 | $ | 497 | $ | 471 | |||||||||
Quantitative information about the significant unobservable inputs used in the fair value measurement of MSRs at the respective dates is as follows: | |||||||||||||
3/31/15 | 12/31/14 | ||||||||||||
Servicing fees | 0.25 | % | 0.25 | % | |||||||||
Discount rate | 9.52 | % | 9.52 | % | |||||||||
Prepayment rate (CPR) | 9.80 | % | 9.28 | % | |||||||||
FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A NONRECURRING BASIS | |||||||||||||
The Company is required, on a nonrecurring basis, to adjust the carrying value of certain assets or provide valuation allowances related to certain assets using fair value measurements. The following table presents for each of the fair-value hierarchy levels as defined in this footnote, those financial instruments which are measured at fair value on a nonrecurring basis at March 31, 2015 and December 31, 2014: | |||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||
31-Mar-15 | |||||||||||||
Impaired loans | $ | - | - | 14,569 | $ | 14,569 | |||||||
31-Dec-14 | |||||||||||||
Impaired loans | $ | - | - | 13,716 | $ | 13,716 | |||||||
Impaired loans | |||||||||||||
The Company evaluates and values impaired loans at the time the loan is identified as impaired, and the fair values of such loans are estimated using Level 3 inputs in the fair value hierarchy. Each loan’s collateral has a unique appraisal and management’s discount of the value is based on factors unique to each impaired loan. The significant unobservable input in determining the fair value is management’s subjective discount on appraisals of the collateral securing the loan, which ranges from 10%-50%. Collateral may consist of real estate and/or business assets including equipment, inventory and/or accounts receivable and the value of these assets is determined based on appraisals by qualified licensed appraisers hired by the Company. Appraised and reported values may be discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, estimated costs to sell, and/or management’s expertise and knowledge of the client and the client’s business. | |||||||||||||
The Company has an appraisal policy in which appraisals are obtained upon a commercial loan being downgraded on the Company internal loan rating scale to a 5 (special mention) or a 6 (substandard) depending on the amount of the loan, the type of loan and the type of collateral. All impaired commercial loans are either graded a 6 or 7 on the internal loan rating scale. For consumer loans, the Company obtains appraisals when a loan becomes 90 days past due or is determined to be impaired, whichever occurs first. Subsequent to the downgrade or reaching 90 days past due, if the loan remains outstanding and impaired for at least one year more, management may require another follow-up appraisal. Between receipts of updated appraisals, if necessary, management may perform an internal valuation based on any known changing conditions in the marketplace such as sales of similar properties, a change in the condition of the collateral, or feedback from local appraisers. Impaired loans had a gross value of $15.7 million, with a valuation allowance of $1.2 million, at March 31, 2015, compared to a gross value for impaired loans of $15.0 million, with a valuation allowance of $1.3 million, at December 31, 2014. | |||||||||||||
FAIR VALUE OF FINANCIAL INSTRUMENTS | |||||||||||||
At March 31, 2015 and December 31, 2014, the estimated fair values of the Company’s financial instruments, including those that are not measured and reported at fair value on a recurring basis or nonrecurring basis, were as follows: | |||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||
Amount | Value | Amount | Value | ||||||||||
(in thousands) | (in thousands) | ||||||||||||
Financial assets: | |||||||||||||
Level 1: | |||||||||||||
Cash and cash equivalents | $ | 60,694 | $ | 60,694 | $ | 10,898 | $ | 10,898 | |||||
Level 2: | |||||||||||||
Available for sale securities | 98,393 | 98,393 | 95,533 | 95,533 | |||||||||
FHLB and FRB stock | 2,308 | 2,308 | 2,925 | 2,925 | |||||||||
Level 3: | |||||||||||||
Held to maturity securities | 1,588 | 1,576 | 1,599 | 1,574 | |||||||||
Loans and leases, net | 688,961 | 700,338 | 683,131 | 685,148 | |||||||||
Mortgage servicing rights | 497 | 497 | 518 | 518 | |||||||||
Financial liabilities: | |||||||||||||
Level 1: | |||||||||||||
Demand deposits | $ | 169,965 | $ | 169,965 | $ | 158,631 | $ | 158,631 | |||||
NOW deposits | 82,956 | 82,956 | 72,670 | 72,670 | |||||||||
Regular savings deposits | 416,317 | 416,317 | 363,542 | 363,542 | |||||||||
Commitments to extend credit | 93 | 93 | 245 | 245 | |||||||||
Securities sold under agreement to | |||||||||||||
repurchase | 10,673 | 10,673 | 13,778 | 13,778 | |||||||||
Level 2: | |||||||||||||
Other borrowed funds | - | - | 13,700 | 13,700 | |||||||||
Junior subordinated debentures | 11,330 | 11,330 | 11,330 | 11,330 | |||||||||
Level 3: | |||||||||||||
Time deposits | 111,120 | 110,678 | 112,792 | 113,854 | |||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practical to estimate that value. | |||||||||||||
Cash and Cash Equivalents. For these short-term instruments, the carrying amount is a reasonable estimate of fair value. “Cash and Cash Equivalents” includes interest-bearing deposits at other banks. | |||||||||||||
FHLB and FRB stock. The carrying value of FHLB and FRB stock approximate fair value. | |||||||||||||
Securities held to maturity. The Company holds certain municipal bonds as held-to-maturity. These bonds are generally small in dollar amount and are issued only by certain local municipalities within the Company’s market area. The original terms are negotiated directly and on an individual basis consistent with our loan and credit guidelines. These bonds are not traded on the open market and management intends to hold the bonds to maturity. The fair value of held-to-maturity securities is estimated by discounting the future cash flows using the current rates at which similar agreements would be made with municipalities with similar credit ratings and for the same remaining maturities. | |||||||||||||
Loans and Leases, net. The fair value of fixed rate loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities, net of the appropriate portion of the allowance for loan losses. For variable rate loans, the carrying amount is a reasonable estimate of fair value. This fair value calculation is not necessarily indicative of the exit price, as defined in ASC 820. | |||||||||||||
Deposits. The fair value of demand deposits, NOW accounts, muni-vest accounts and regular savings accounts is the amount payable on demand at the reporting date. The fair value of time deposits is estimated using the rates currently offered for deposits of similar remaining maturities. | |||||||||||||
Junior Subordinated Debentures. There is no active market for the Company’s debentures. The fair value of the junior subordinated debentures is determined using an expected prevent value technique. The fair value of the adjustable-rate debentures approximates their face amount. | |||||||||||||
Commitments to extend credit and standby letters of credit. As described in Note 8 - “Contingent Liabilities and Commitments” to these Unaudited Consolidated Financial Statements, the Company was a party to financial instruments with off-balance sheet risk at March 31, 2015 and December 31, 2014. Such financial instruments consist of commitments to extend permanent financing and letters of credit. If the options are exercised by the prospective borrowers, these financial instruments will become interest-earning assets of the Company. If the options expire, the Company retains any fees paid by the counterparty in order to obtain the commitment or guarantee. The fees collected for these commitments are recorded as “unearned commitment fees” in Other Liabilities. The carrying value approximates the fair value. | |||||||||||||
Securities Sold Under Agreement to Repurchase. The fair value of the securities sold under agreement to repurchase approximates its carrying value. | |||||||||||||
Other Borrowed Funds. The fair value of the short-term portion of other borrowed funds approximates its carrying value. The fair value of the long-term portion of other borrowed funds is estimated using a discounted cash flow analysis based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. | |||||||||||||
Loans_And_The_Allowance_For_Lo
Loans And The Allowance For Loan Losses | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Loans And The Allowance For Loan Losses [Abstract] | |||||||||||||||||||||||||
Loans, Leases, And The Allowance For Loan And Lease Losses | 4. LOANS AND THE ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||
Loan Portfolio Composition | |||||||||||||||||||||||||
The following table presents selected information on the composition of the Company’s loan portfolio as of the dates indicated: | |||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||
Mortgage loans on real estate: | (in thousands) | ||||||||||||||||||||||||
Residential Mortgages | $ | 100,548 | $ | 98,374 | |||||||||||||||||||||
Commercial and multi-family | 366,657 | 363,252 | |||||||||||||||||||||||
Construction-Residential | 238 | 721 | |||||||||||||||||||||||
Construction-Commercial | 39,723 | 40,986 | |||||||||||||||||||||||
Home equities | 59,689 | 59,948 | |||||||||||||||||||||||
Total real estate loans | 566,855 | 563,281 | |||||||||||||||||||||||
Commercial and industrial loans | 132,416 | 129,456 | |||||||||||||||||||||||
Consumer loans | 1,704 | 1,764 | |||||||||||||||||||||||
Other | 122 | 404 | |||||||||||||||||||||||
Net deferred loan origination costs | 641 | 759 | |||||||||||||||||||||||
Total gross loans | 701,738 | 695,664 | |||||||||||||||||||||||
Allowance for loan losses | -12,777 | -12,533 | |||||||||||||||||||||||
Loans, net | $ | 688,961 | $ | 683,131 | |||||||||||||||||||||
The Bank sells certain fixed rate residential mortgages to FNMA, while maintaining the servicing rights for those mortgages. In the three month period ended March 31, 2015, the Bank sold mortgages to FNMA totaling $2.6 million, as compared with no mortgages sold to FNMA in the three month period ended March 31, 2014. At March 31, 2015, the Bank had a loan servicing portfolio principal balance of $72.2 million upon which it earns servicing fees, as compared with $71.6 million at December 31, 2014. The value of the mortgage servicing rights for that portfolio was $0.5 million at March 31, 2015 and December 31, 2014, respectively. At March 31, 2015, there were $2.8 million in residential mortgage loans held-for-sale, compared with $0.4 million in residential mortgages held for sale at December 31, 2014. The Company had no commercial loans held-for-sale at March 31, 2015 or December 31, 2014. The Company has never been contacted by FNMA to repurchase any loans due to improper documentation or fraud. | |||||||||||||||||||||||||
As noted in Note 1, these financial statements should be read in conjunction with the Audited Consolidated Financial Statements and the Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014. Disclosures related to the basis for accounting for loans, the method for recognizing interest income on loans, the policy for placing loans on nonaccrual status and the subsequent recording of payments and resuming accrual of interest, the policy for determining past due status, a description of the Company’s accounting policies and methodology used to estimate the allowance for loan losses, the policy for charging off loans, the accounting policies for impaired loans, and more descriptive information on the Company’s credit risk ratings are all contained in the Notes to the Audited Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Unless otherwise noted in this Form 10-Q, the policies and methodology described in the Annual Report for the year ended December 31, 2014 are consistent with those utilized by the Company in the three months ended March 31, 2015. | |||||||||||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||
The Bank monitors the credit risk in its loan portfolio by reviewing certain credit quality indicators (“CQI”). The primary CQI for its commercial mortgage and commercial and industrial (“C&I”) portfolios is the individual loan’s credit risk rating. The following list provides a description of the credit risk ratings that are used internally by the Bank when assessing the adequacy of its allowance for loan and lease losses: | |||||||||||||||||||||||||
· | 1-3-Pass | ||||||||||||||||||||||||
· | 4-Watch | ||||||||||||||||||||||||
· | 5-O.A.E.M. (Other Assets Especially Mentioned) or Special Mention | ||||||||||||||||||||||||
· | 6-Substandard | ||||||||||||||||||||||||
· | 7-Doubtful | ||||||||||||||||||||||||
· | 8-Loss | ||||||||||||||||||||||||
The Company’s consumer loans, including residential mortgages and home equities, are not individually risk rated or reviewed in the Company’s loan review process. Consumers are not required to provide the Company with updated financial information as is a commercial customer. Consumer loans also carry smaller balances. Given the lack of updated information after the initial underwriting of the loan and small size of individual loans, the Company uses delinquency status as the credit quality indicator for consumer loans. | |||||||||||||||||||||||||
The following tables provide data, at the class level, of credit quality indicators of certain loans and leases for the dates specified: | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Corporate Credit Exposure – By Credit Rating | Commercial Real Estate Construction | Commercial and Multi-Family Mortgages | Total Commercial Real Estate | Commercial and Industrial | |||||||||||||||||||||
3 | $ | 33,644 | $ | 308,059 | $ | 341,703 | $ | 86,254 | |||||||||||||||||
4 | 1,235 | 42,901 | 44,136 | 29,712 | |||||||||||||||||||||
5 | 4,844 | 9,974 | 14,818 | 8,652 | |||||||||||||||||||||
6 | - | 5,723 | 5,723 | 7,687 | |||||||||||||||||||||
7 | - | - | - | 111 | |||||||||||||||||||||
Total | $ | 39,723 | $ | 366,657 | $ | 406,380 | $ | 132,416 | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Corporate Credit Exposure – By Credit Rating | Commercial Real Estate Construction | Commercial and Multi-Family Mortgages | Total Commercial Real Estate | Commercial and Industrial | |||||||||||||||||||||
3 | $ | 29,421 | $ | 299,798 | $ | 329,219 | $ | 83,789 | |||||||||||||||||
4 | 10,492 | 50,691 | 61,183 | 30,223 | |||||||||||||||||||||
5 | 1,073 | 7,853 | 8,926 | 8,662 | |||||||||||||||||||||
6 | - | 4,757 | 4,757 | 6,613 | |||||||||||||||||||||
7 | - | 153 | 153 | 169 | |||||||||||||||||||||
Total | $ | 40,986 | $ | 363,252 | $ | 404,238 | $ | 129,456 | |||||||||||||||||
Past Due Loans | |||||||||||||||||||||||||
The following tables provide an analysis of the age of the recorded investment in loans that are past due as of the dates indicated: | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Total Past | Current | Total | 90+ Days | Non-accruing | |||||||||||||||||||||
30-59 days | 60-89 days | 90+ days | Due | Balance | Balance | Accruing | Loans | ||||||||||||||||||
Commercial and | |||||||||||||||||||||||||
industrial | $ | 663 | $ | 117 | $ | 25 | $ | 805 | $ | 131,611 | $ | 132,416 | $ | - | $ | 6,380 | |||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 345 | 189 | 473 | 1,007 | 99,541 | 100,548 | - | 1,275 | |||||||||||||||||
Construction | - | - | - | - | 238 | 238 | - | - | |||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 1,923 | 247 | 302 | 2,472 | 364,185 | 366,657 | 192 | 2,938 | |||||||||||||||||
Construction | 5,848 | - | 513 | 6,361 | 33,362 | 39,723 | 513 | - | |||||||||||||||||
Home equities | 911 | 13 | 279 | 1,203 | 58,486 | 59,689 | - | 489 | |||||||||||||||||
Consumer | 15 | 19 | - | 34 | 1,670 | 1,704 | - | 17 | |||||||||||||||||
Other | - | - | - | - | 122 | 122 | - | - | |||||||||||||||||
Total Loans | $ | 9,705 | $ | 585 | $ | 1,592 | $ | 11,882 | $ | 689,215 | $ | 701,097 | $ | 705 | $ | 11,099 | |||||||||
NOTE: Loan and lease balances do not include $641 thousand in net deferred loan origination costs as of March 31, 2015. | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Total Past | Current | Total | 90+ Days | Non-accruing | |||||||||||||||||||||
30-59 days | 60-89 days | 90+ days | Due | Balance | Balance | Accruing | Loans | ||||||||||||||||||
Commercial and | |||||||||||||||||||||||||
industrial | $ | 153 | $ | 60 | $ | 274 | $ | 487 | $ | 128,969 | $ | 129,456 | $ | - | $ | 5,500 | |||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 848 | 158 | 682 | 1,688 | 96,686 | 98,374 | - | 1,296 | |||||||||||||||||
Construction | - | - | - | - | 721 | 721 | - | - | |||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 4,201 | 3,115 | 513 | 7,829 | 355,423 | 363,252 | - | 3,162 | |||||||||||||||||
Construction | 8 | - | 201 | 209 | 40,777 | 40,986 | 201 | - | |||||||||||||||||
Home equities | 594 | 120 | 192 | 906 | 59,042 | 59,948 | - | 415 | |||||||||||||||||
Consumer | 13 | 1 | - | 14 | 1,750 | 1,764 | - | 17 | |||||||||||||||||
Other | - | - | - | - | 404 | 404 | - | - | |||||||||||||||||
Total Loans | $ | 5,817 | $ | 3,454 | $ | 1,862 | $ | 11,133 | $ | 683,772 | $ | 694,905 | $ | 201 | $ | 10,390 | |||||||||
NOTE: Loan and lease balances do not include $759 thousand in net deferred loan origination costs as of December 31, 2014. | |||||||||||||||||||||||||
Allowance for loan losses | |||||||||||||||||||||||||
The following tables present the activity in the allowance for loan losses according to portfolio segment, for the three month periods ended March 31, 2015 and 2014: | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
(in thousands) | Commercial and Industrial | Commercial Real Estate Mortgages* | Consumer ** | Residential Mortgages* | HELOC | Direct Financing Leases | Unallocated | Total | |||||||||||||||||
Allowance for loan | |||||||||||||||||||||||||
losses: | |||||||||||||||||||||||||
Beginning balance | $ | 4,896 | $ | 5,650 | $ | 78 | $ | 941 | $ | 819 | $ | - | $ | 149 | $ | 12,533 | |||||||||
Charge-offs | - | - | -6 | - | - | - | - | -6 | |||||||||||||||||
Recoveries | 38 | 10 | 1 | - | - | - | - | 49 | |||||||||||||||||
Provision | 55 | 170 | -3 | -17 | -4 | - | - | 201 | |||||||||||||||||
Ending balance | $ | 4,989 | $ | 5,830 | $ | 70 | $ | 924 | $ | 815 | $ | - | $ | 149 | $ | 12,777 | |||||||||
Allowance for loan | |||||||||||||||||||||||||
losses: | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||
Individually evaluated | |||||||||||||||||||||||||
for impairment | $ | 978 | $ | 124 | $ | 47 | $ | 3 | $ | - | $ | - | $ | - | $ | 1,152 | |||||||||
Collectively evaluated | |||||||||||||||||||||||||
for impairment | 4,011 | 5,706 | 23 | 921 | 815 | - | 149 | 11,625 | |||||||||||||||||
Total | $ | 4,989 | $ | 5,830 | $ | 70 | $ | 924 | $ | 815 | $ | - | $ | 149 | $ | 12,777 | |||||||||
Loans: | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||
Individually evaluated | |||||||||||||||||||||||||
for impairment | $ | 6,577 | $ | 5,604 | $ | 47 | $ | 2,512 | $ | 981 | $ | - | $ | - | $ | 15,721 | |||||||||
Collectively evaluated | |||||||||||||||||||||||||
for impairment | 125,839 | 400,776 | 1,779 | 98,274 | 58,708 | - | - | 685,376 | |||||||||||||||||
Total | $ | 132,416 | $ | 406,380 | $ | 1,826 | $ | 100,786 | $ | 59,689 | $ | - | $ | - | $ | 701,097 | |||||||||
* Includes construction loans | |||||||||||||||||||||||||
** Includes all other consumer loans | |||||||||||||||||||||||||
NOTE: Loan balances do not include $641 thousand in net deferred loan origination costs as of March 31, 2015. | |||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
(in thousands) | Commercial and Industrial | Commercial Real Estate Mortgages* | Consumer ** | Residential Mortgages* | HELOC | Direct Financing Leases | Unallocated | Total | |||||||||||||||||
Allowance for loan | |||||||||||||||||||||||||
losses: | |||||||||||||||||||||||||
Beginning balance | $ | 4,489 | $ | 4,912 | $ | 37 | $ | 1,038 | $ | 878 | $ | - | $ | 149 | $ | 11,503 | |||||||||
Charge-offs | -57 | - | -6 | - | -1 | - | - | -64 | |||||||||||||||||
Recoveries | 28 | 29 | 2 | - | - | 83 | - | 142 | |||||||||||||||||
Provision | 63 | 167 | 3 | -1 | 4 | -83 | - | 153 | |||||||||||||||||
Ending balance | $ | 4,523 | $ | 5,108 | $ | 36 | $ | 1,037 | $ | 881 | $ | - | $ | 149 | $ | 11,734 | |||||||||
Allowance for loan | |||||||||||||||||||||||||
losses: | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||
Individually evaluated | |||||||||||||||||||||||||
for impairment | $ | 1,182 | $ | 210 | $ | 19 | $ | - | $ | - | $ | - | $ | - | $ | 1,411 | |||||||||
Collectively evaluated | |||||||||||||||||||||||||
for impairment | 3,341 | 4,898 | 17 | 1,037 | 881 | - | 149 | 10,323 | |||||||||||||||||
Total | $ | 4,523 | $ | 5,108 | $ | 36 | $ | 1,037 | $ | 881 | $ | - | $ | 149 | $ | 11,734 | |||||||||
Loans: | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||
Individually evaluated | |||||||||||||||||||||||||
for impairment | $ | 4,291 | $ | 11,579 | $ | 19 | $ | 2,100 | $ | 284 | $ | - | $ | - | $ | 18,273 | |||||||||
Collectively evaluated | |||||||||||||||||||||||||
for impairment | 106,653 | 380,194 | 1,576 | 96,268 | 57,080 | - | - | 641,771 | |||||||||||||||||
Total | $ | 110,944 | $ | 391,773 | $ | 1,595 | $ | 98,368 | $ | 57,364 | $ | - | $ | - | $ | 660,044 | |||||||||
* Includes construction loans | |||||||||||||||||||||||||
** Includes all other consumer loans | |||||||||||||||||||||||||
NOTE: Loan balances do not include $651 thousand in net deferred loan origination costs as of March 31, 2014. | |||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||
The following tables provide data, at the class level, of impaired loans as of the dates indicated: | |||||||||||||||||||||||||
At March 31, 2015 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
With no related allowance recorded: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 1,330 | $ | 1,461 | $ | - | $ | 1,416 | $ | 148 | $ | 7 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 2,241 | 2,419 | - | 2,253 | 12 | 11 | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 1,922 | 2,016 | - | 1,956 | 6 | 18 | |||||||||||||||||||
Construction | 1,103 | 1,103 | - | 1,128 | - | 12 | |||||||||||||||||||
Home equities | 981 | 1,025 | - | 991 | 6 | 4 | |||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 7,577 | $ | 8,024 | $ | - | $ | 7,744 | $ | 172 | $ | 52 | |||||||||||||
At March 31, 2015 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
With a related allowance recorded: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 5,247 | $ | 5,324 | $ | 978 | $ | 5,283 | $ | 75 | $ | 12 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 271 | 285 | 3 | 271 | 5 | - | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 2,579 | 2,758 | 124 | 2,670 | 35 | - | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Home equities | - | - | - | - | - | - | |||||||||||||||||||
Consumer | 47 | 60 | 47 | 48 | 1 | 1 | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 8,144 | $ | 8,427 | $ | 1,152 | $ | 8,272 | $ | 116 | $ | 13 | |||||||||||||
At March 31, 2015 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
Total: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 6,577 | $ | 6,785 | $ | 978 | $ | 6,699 | $ | 223 | $ | 19 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 2,512 | 2,704 | 3 | 2,524 | 17 | 11 | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 4,501 | 4,774 | 124 | 4,626 | 41 | 18 | |||||||||||||||||||
Construction | 1,103 | 1,103 | - | 1,128 | - | 12 | |||||||||||||||||||
Home equities | 981 | 1,025 | - | 991 | 6 | 4 | |||||||||||||||||||
Consumer | 47 | 60 | 47 | 48 | 1 | 1 | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 15,721 | $ | 16,451 | $ | 1,152 | $ | 16,016 | $ | 288 | $ | 65 | |||||||||||||
At December 31, 2014 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
With no related allowance recorded: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 1,017 | $ | 1,022 | $ | - | $ | 1,096 | $ | 9 | $ | 66 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 2,264 | 2,435 | - | 2,271 | 37 | 68 | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 2,103 | 2,208 | - | 2,139 | 33 | 91 | |||||||||||||||||||
Construction | 1,074 | 1,074 | - | 1,169 | - | 44 | |||||||||||||||||||
Home equities | 911 | 950 | - | 917 | 17 | 22 | |||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 7,369 | $ | 7,689 | $ | - | $ | 7,592 | $ | 96 | $ | 291 | |||||||||||||
At December 31, 2014 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
With a related allowance recorded: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 4,701 | $ | 4,734 | $ | 988 | $ | 4,701 | $ | 64 | $ | 234 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 271 | 285 | 3 | 271 | 20 | - | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 2,640 | 2,785 | 274 | 2,708 | 96 | 50 | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Home equities | - | - | - | - | - | - | |||||||||||||||||||
Consumer | 48 | 60 | 48 | 49 | 5 | 6 | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 7,660 | $ | 7,864 | $ | 1,313 | $ | 7,729 | $ | 185 | $ | 290 | |||||||||||||
At December 31, 2014 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
Total: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 5,718 | $ | 5,756 | $ | 988 | $ | 5,797 | $ | 73 | $ | 300 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 2,535 | 2,720 | 3 | 2,542 | 57 | 68 | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 4,743 | 4,993 | 274 | 4,847 | 129 | 141 | |||||||||||||||||||
Construction | 1,074 | 1,074 | - | 1,169 | - | 44 | |||||||||||||||||||
Home equities | 911 | 950 | - | 917 | 17 | 22 | |||||||||||||||||||
Consumer | 48 | 60 | 48 | 49 | 5 | 6 | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 15,029 | $ | 15,553 | $ | 1,313 | $ | 15,321 | $ | 281 | $ | 581 | |||||||||||||
Non-performing loans | |||||||||||||||||||||||||
The following table sets forth information regarding non-performing loans as of the dates specified: | |||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Non-accruing loans: | |||||||||||||||||||||||||
Commercial and industrial loans | $ | 6,380 | $ | 5,500 | |||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 1,275 | 1,296 | |||||||||||||||||||||||
Construction | - | - | |||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial and multi-family | 2,938 | 3,162 | |||||||||||||||||||||||
Construction | - | - | |||||||||||||||||||||||
Home equities | 489 | 415 | |||||||||||||||||||||||
Consumer loans | 17 | 17 | |||||||||||||||||||||||
Other | - | - | |||||||||||||||||||||||
Total non-accruing loans | $ | 11,099 | $ | 10,390 | |||||||||||||||||||||
Accruing loans 90+ days past due | 705 | 201 | |||||||||||||||||||||||
Total non-performing loans | $ | 11,804 | $ | 10,591 | |||||||||||||||||||||
Total non-performing loans | |||||||||||||||||||||||||
to total assets | 1.31 | % | 1.25 | % | |||||||||||||||||||||
Total non-performing loans | |||||||||||||||||||||||||
to total loans | 1.68 | % | 1.52 | % | |||||||||||||||||||||
Troubled debt restructurings | |||||||||||||||||||||||||
The Company had $6.8 million in loans that were restructured in a troubled debt restructuring (“TDR”) at March 31, 2015, compared with $6.6 million at December 31, 2014. $2.2 million and $1.9 million of those balances were in non-accrual status at March 31, 2015 and December 31, 2014, respectively. Any TDR that is placed on non-accrual is not reverted back to accruing status until the borrower makes timely payments as contracted for at least six months and future collection under the revised terms is probable. All of the Company’s restructurings were allowed in an effort to maximize its ability to collect on loans where borrowers were experiencing financial difficulty. The Company did not engage in any re-modifications during the three month periods ended March 31, 2015 and 2014. | |||||||||||||||||||||||||
The reserve for a TDR is based upon the present value of the future expected cash flows discounted at the loan’s original effective rate or upon the fair value of the collateral less costs to sell, if the loan is deemed collateral dependent. This reserve methodology is used because all TDR loans are considered impaired. As of March 31, 2015, there were no commitments to lend additional funds to debtors owing on loans whose terms have been modified in TDRs. | |||||||||||||||||||||||||
The following tables summarize the loans that were classified as troubled debt restructurings as of the dates indicated: | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
($ in thousands) | |||||||||||||||||||||||||
Total | Nonaccruing | Accruing | Related Allowance | ||||||||||||||||||||||
Commercial and industrial | $ | 874 | $ | 677 | $ | 197 | $ | 200 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 1,824 | 586 | 1,238 | - | |||||||||||||||||||||
Construction | - | - | - | - | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial and multi family | 2,238 | 675 | 1,563 | 33 | |||||||||||||||||||||
Construction | 1,103 | - | 1,103 | - | |||||||||||||||||||||
Home equities | 719 | 228 | 491 | - | |||||||||||||||||||||
Consumer loans | 30 | - | 30 | 30 | |||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||
Total troubled restructured loans | $ | 6,788 | $ | 2,166 | $ | 4,622 | $ | 263 | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
($ in thousands) | |||||||||||||||||||||||||
Total | Nonaccruing | Accruing | Related Allowance | ||||||||||||||||||||||
Commercial and industrial | $ | 492 | $ | 274 | $ | 218 | $ | 173 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 1,833 | 594 | 1,239 | - | |||||||||||||||||||||
Construction | - | - | - | - | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial and multi family | 2,428 | 847 | 1,581 | 33 | |||||||||||||||||||||
Construction | 1,074 | - | 1,074 | - | |||||||||||||||||||||
Home equities | 728 | 233 | 495 | - | |||||||||||||||||||||
Consumer loans | 31 | - | 31 | 31 | |||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||
Total troubled restructured loans | $ | 6,586 | $ | 1,948 | $ | 4,638 | $ | 237 | |||||||||||||||||
The Company’s TDRs have various agreements that involve deferral of principal payments, or interest-only payments, for a period (usually 12 months or less) to allow the customer time to improve cash flow or sell the property. Other common types of concessions leading to the designation of a TDR are lines of credit that are termed out and extensions of maturities at rates that are less than market given the risk profile of the borrower. | |||||||||||||||||||||||||
The following table shows the data for TDR activity by type of concession granted to the borrower for the three month periods ended March 31, 2015 and 2014: | |||||||||||||||||||||||||
Three months ended March 31, 2015 | Three months ended March 31, 2014 | ||||||||||||||||||||||||
($ in thousands) | ($ in thousands) | ||||||||||||||||||||||||
Troubled Debt Restructurings by Type of Concession | Number of Contracts | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number of Contracts | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | |||||||||||||||||||
Commercial and Industrial: | |||||||||||||||||||||||||
Deferral of principal | 3 | $ | 541 | $ | 541 | - | $ | - | $ | - | |||||||||||||||
Residential Real Estate & Construction: | |||||||||||||||||||||||||
Deferral of principal | - | - | - | - | - | - | |||||||||||||||||||
Commercial Real Estate & Construction | |||||||||||||||||||||||||
Deferral of principal | - | - | - | - | - | - | |||||||||||||||||||
Home Equities: | |||||||||||||||||||||||||
Deferral of principal | - | - | - | - | - | - | |||||||||||||||||||
Consumer loans | - | - | - | - | - | - | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
The general practice of the Bank is to work with borrowers so that they are able to pay back their loan in full. If a borrower continues to be delinquent or cannot meet the terms of a TDR and the loan is determined to be uncollectible, the loan will be charged off. The following table presents loans which were classified as TDRs during the previous 12 months which defaulted during the three month periods ended March 31, 2015 and 2014: | |||||||||||||||||||||||||
Three months ended March 31, 2015 | Three months ended March 31, 2014 | ||||||||||||||||||||||||
($ in thousands) | ($ in thousands) | ||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||
That Subsequently Defaulted | Contracts | Investment | Contracts | Investment | |||||||||||||||||||||
Commercial and Industrial | - | $ | - | - | $ | - | |||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||
Residential | - | - | - | - | |||||||||||||||||||||
Construction | - | - | - | - | |||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Commercial and Multi-Family | - | - | - | - | |||||||||||||||||||||
Construction | - | - | - | - | |||||||||||||||||||||
Home Equities | 1 | 19 | - | - | |||||||||||||||||||||
Consumer loans | - | - | - | - | |||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||
Per_Share_Data
Per Share Data | 3 Months Ended |
Mar. 31, 2015 | |
Per Share Data [Abstract] | |
Per Share Data | 5. PER SHARE DATA |
The common stock per share information is based upon the weighted average number of shares outstanding during each period. For the three month periods ended March 31, 2015 and 2014, the Company had an average of 78,167 and 83,497 dilutive shares outstanding, respectively. | |
Potential common shares that would have the effect of increasing diluted earnings per share are considered to be anti-dilutive and not included in calculating diluted earnings per share. For the three month periods ended March 31, 2015 and 2014, there was an average of 38,630 and 9,000 anti-dilutive shares outstanding, respectively, that were not included in calculating diluted earnings per share because their effect was anti-dilutive. | |
Other_Comprehensive_Income
Other Comprehensive Income | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Other Comprehensive Income [Abstract] | |||||||||||||||||||
Other Comprehensive Income | |||||||||||||||||||
6. OTHER COMPREHENSIVE INCOME | |||||||||||||||||||
The following tables summarize the changes in the components of accumulated other comprehensive income (loss) during the three month periods ended March 31, 2015 and 2014: | |||||||||||||||||||
Balance at December 31, 2014 | Net Change | Balance at March 31, 2015 | |||||||||||||||||
(in thousands) | |||||||||||||||||||
Net unrealized gain (loss) on investment securities | $ | 911 | $ | 331 | $ | 1,242 | |||||||||||||
Net defined benefit pension plans adjustments | -2,419 | 29 | -2,390 | ||||||||||||||||
Total | $ | -1,508 | $ | 360 | $ | -1,148 | |||||||||||||
Balance at December 31, 2013 | Net Change | Balance at March 31, 2014 | |||||||||||||||||
(in thousands) | |||||||||||||||||||
Net unrealized gain (loss) on investment securities | $ | 191 | $ | 361 | $ | 552 | |||||||||||||
Net defined benefit pension plans adjustments | -1,454 | 21 | -1,433 | ||||||||||||||||
Total | $ | -1,263 | $ | 382 | $ | -881 | |||||||||||||
Three months ended March 31, 2015 | Three months ended March 31, 2014 | ||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||
Before-Tax Amount | Income Tax (Provision) Benefit | Net-of-Tax Amount | Before-Tax Amount | Income Tax (Provision) Benefit | Net-of-Tax Amount | ||||||||||||||
Unrealized loss on investment securities: | |||||||||||||||||||
Unrealized gain (loss) on investment securities | $ | 541 | $ | -210 | $ | 331 | $ | 588 | $ | -227 | $ | 361 | |||||||
Reclassification from accumulated other | |||||||||||||||||||
comprehensive income for gains (losses) | - | - | - | - | - | - | |||||||||||||
Net change | 541 | -210 | 331 | 588 | -227 | 361 | |||||||||||||
Defined benefit pension plans adjustments: | |||||||||||||||||||
Net actuarial (loss) gain | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||
Reclassifications from accumulated other | |||||||||||||||||||
comprehensive income for gains (losses) | |||||||||||||||||||
Amortization of prior service cost (a) | 7 | -2 | 5 | 8 | -3 | 5 | |||||||||||||
Amortization of actuarial loss (a) | 48 | -24 | 24 | 26 | -10 | 16 | |||||||||||||
Net change | 55 | -26 | 29 | 34 | -13 | 21 | |||||||||||||
Other Comprehensive Income (Loss) | $ | 596 | $ | -236 | $ | 360 | $ | 622 | $ | -240 | $ | 382 | |||||||
(a) Included in net periodic pension cost, as described in Note 9 – “Net Periodic Benefit Costs” | |||||||||||||||||||
Segment_Information
Segment Information | 3 Months Ended | |||||||||
Mar. 31, 2015 | ||||||||||
Segment Information [Abstract] | ||||||||||
Segment Information | 7. SEGMENT INFORMATION | |||||||||
The Company is comprised of two primary business segments, banking and insurance agency activities. The following tables set forth information regarding these segments for the three month periods ended March 31, 2015 and 2014. | ||||||||||
Three months ended March 31, 2015 | ||||||||||
Banking | Insurance Agency | |||||||||
Activities | Activities | Total | ||||||||
(in thousands) | ||||||||||
Net interest income (expense) | $ | 7,609 | $ | -28 | $ | 7,581 | ||||
Provision for loan and lease losses | 201 | - | 201 | |||||||
Net interest income (expense) after | ||||||||||
provision for loan and lease losses | 7,408 | -28 | 7,380 | |||||||
Non-interest income | 1,237 | - | 1,237 | |||||||
Insurance service and fees | 162 | 1,667 | 1,829 | |||||||
Net gain on sales and calls of securities | - | - | - | |||||||
Amortization expense | - | - | - | |||||||
Non-interest expense | 6,481 | 1,031 | 7,512 | |||||||
Income before income taxes | 2,326 | 608 | 2,934 | |||||||
Income tax provision | 794 | 235 | 1,029 | |||||||
Net income | $ | 1,532 | $ | 373 | $ | 1,905 | ||||
Three months ended March 31, 2014 | ||||||||||
Banking | Insurance Agency | |||||||||
Activities | Activities | Total | ||||||||
(in thousands) | ||||||||||
Net interest income (expense) | $ | 7,326 | $ | -28 | $ | 7,298 | ||||
Provision for loan and lease losses | 153 | - | 153 | |||||||
Net interest income (expense) after | ||||||||||
provision for loan and lease losses | 7,173 | -28 | 7,145 | |||||||
Non-interest income | 1,263 | - | 1,263 | |||||||
Insurance service and fees | 152 | 1,980 | 2,132 | |||||||
Net gain on sales and calls of securities | - | - | - | |||||||
Amortization expense | - | 41 | 41 | |||||||
Non-interest expense | 6,477 | 1,100 | 7,577 | |||||||
Income before income taxes | 2,111 | 811 | 2,922 | |||||||
Income tax provision | 596 | 313 | 909 | |||||||
Net income | $ | 1,515 | $ | 498 | $ | 2,013 | ||||
Contingent_Liabilities_And_Com
Contingent Liabilities And Commitments | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Contingent Liabilities And Commitments [Abstract] | |||||||
Contingent Liabilities And Commitments | 8. CONTINGENT LIABILITIES AND COMMITMENTS | ||||||
The unaudited consolidated financial statements do not reflect various commitments and contingent liabilities, which arise in the normal course of business, and which involve elements of credit risk, interest rate risk and liquidity risk. These commitments and contingent liabilities consist of commitments to extend credit and standby letters of credit. A summary of the Bank’s commitments and contingent liabilities is as follows: | |||||||
March 31, | December 31, | ||||||
2015 | 2014 | ||||||
(in thousands) | |||||||
Commitments to extend credit | $ | 234,311 | $ | 212,193 | |||
Standby letters of credit | 2,767 | 2,430 | |||||
Total | $ | 237,078 | $ | 214,623 | |||
Commitments to extend credit and standby letters of credit include some exposure to credit loss in the event of nonperformance by the customer. The Bank’s credit policies and procedures for credit commitments and financial guarantees are the same as those for extensions of credit that are recorded on the Company’s unaudited consolidated balance sheets. Because these instruments have fixed maturity dates, and because they may expire without being drawn upon, they do not necessarily represent cash requirements of the Bank. The Bank has not incurred any losses on its commitments and did not record a reserve for its commitments during the first three months of 2015 or during 2014. | |||||||
Certain lending commitments for construction residential mortgage loans are considered derivative instruments under the guidelines of GAAP. The changes in the fair value of these commitments, due to interest rate risk, are not recorded on the consolidated balance sheets as the fair value of these derivatives is not considered material. | |||||||
The Company is subject to possible litigation proceedings in the normal course of business. As noted in Item 1 of Part II of the Company’s Quarterly Report on Form 10-Q, in which these unaudited financial statements are included, on September 2, 2014 the Office of the Attorney General for the State of New York (“NYAG”) filed a formal complaint against the Company and the Bank regarding residential lending practices. The Company accrued an estimated liability relating to the NYAG investigation totaling $1.0 million during 2014. At March, 31, 2015, a range of loss could not be determined, and management believes the $1.0 million accrual is the best estimate of probable loss. | |||||||
Net_Periodic_Benefit_Costs
Net Periodic Benefit Costs | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Net Periodic Benefit Costs [Abstract] | |||||||||||||
Net Periodic Benefit Costs | 9. NET PERIODIC BENEFIT COSTS | ||||||||||||
On January 31, 2008, the Bank froze its defined benefit pension plan. The plan covered substantially all Company employees. The plan provides benefits that are based on the employees’ compensation and years of service. Under the freeze, eligible employees will receive, at retirement, the benefits already earned through January 31, 2008, but have not accrued any additional benefits since then. As a result, service cost is no longer incurred. | |||||||||||||
The Bank uses an actuarial method of amortizing prior service cost and unrecognized net gains or losses which result from actual expense and assumptions being different than those that are projected. The amortization method the Bank used recognized the prior service cost and net gains or losses over the average remaining service period of active employees. | |||||||||||||
The Bank also maintains a nonqualified supplemental executive retirement plan covering certain members of the Company’s senior management. The Bank uses an actuarial method of amortizing unrecognized net gains or losses which result from actual expense and assumptions being different than those that are projected. The amortization method the Bank uses recognizes the net gains or losses over the average remaining service period of active employees. | |||||||||||||
The Bank did not contribute to the defined benefit pension plan in the first three months of 2015, and expects to contribute $110 thousand additional funds to the pension plan in the remainder of 2015. | |||||||||||||
The following table presents the net periodic cost for the Bank’s defined benefit pension plan and supplemental executive retirement plan for the three month periods ended March 31, 2015 and 2014: | |||||||||||||
Three months ended March 31, | |||||||||||||
(in thousands) | |||||||||||||
Supplemental Executive | |||||||||||||
Pension Benefits | Retirement Plan | ||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||
Service cost | $ | - | $ | - | $ | 48 | $ | 42 | |||||
Interest cost | 51 | 51 | 37 | 40 | |||||||||
Expected return on plan assets | -77 | -76 | - | - | |||||||||
Amortization of prior service cost | - | - | 7 | 8 | |||||||||
Amortization of the net loss | 17 | 5 | 31 | 21 | |||||||||
Net periodic cost (benefit) | $ | -9 | $ | -20 | $ | 123 | $ | 111 | |||||
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2015 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | 10. RECENT ACCOUNTING PRONOUNCEMENTS |
Accounting Standards Update (“ASU”) 2014-04, Reclassification of Collateralized Mortgage Loans upon a Troubled Debt Restructuring. The objective of this proposed ASU is to clarify when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, such that all or a portion of the loan should be derecognized and the real estate property recognized. The main provisions would also require additional disclosures regarding the amount of foreclosed residential real estate property held by the creditor and the recorded investments of consumer mortgage loans that are in the process of foreclosure at each interim and annual reporting period. This ASU became effective for the Company in fiscal years and interim periods within those years, beginning after December 15, 2014. The Company has adopted this guidance for the reporting periods after December 15, 2014 and did not have a material impact on its financial statements. | |
ASU 2014-09, Revenue from Contracts with Customers. The objective of this proposed ASU is to require entities to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This ASU will replace most existing revenue recognition guidance under U.S. GAAP when it becomes effective. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The standard allows an entity to apply the amendments in the ASU using either the retrospective or cumulative effect transition method. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. | |
Securities_Tables
Securities (Tables) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Securities [Abstract] | |||||||||||||||||||
Schedule Of Amortized Cost And Estimated Fair Value Of Investment Securities | The amortized cost of securities and their approximate fair value at March 31, 2015 and December 31, 2014 were as follows: | ||||||||||||||||||
31-Mar-15 | |||||||||||||||||||
(in thousands) | |||||||||||||||||||
Amortized | Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||
Available for Sale: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
U.S. government agencies | $ | 26,593 | $ | 388 | $ | -122 | $ | 26,859 | |||||||||||
States and political subdivisions | 30,988 | 969 | -28 | 31,929 | |||||||||||||||
Total debt securities | $ | 57,581 | $ | 1,357 | $ | -150 | $ | 58,788 | |||||||||||
Mortgage-backed securities: | |||||||||||||||||||
FNMA | $ | 14,101 | $ | 578 | $ | - | $ | 14,679 | |||||||||||
FHLMC | 5,620 | 131 | -46 | 5,705 | |||||||||||||||
GNMA | 8,276 | 133 | -9 | 8,400 | |||||||||||||||
CMO | 10,789 | 88 | -56 | 10,821 | |||||||||||||||
Total mortgage-backed securities | $ | 38,786 | $ | 930 | $ | -111 | $ | 39,605 | |||||||||||
Total securities designated as available for sale | $ | 96,367 | $ | 2,287 | $ | -261 | $ | 98,393 | |||||||||||
Held to Maturity: | |||||||||||||||||||
Debt securities | |||||||||||||||||||
States and political subdivisions | $ | 1,588 | $ | 13 | $ | -25 | $ | 1,576 | |||||||||||
Total securities designated as held to maturity | $ | 1,588 | $ | 13 | $ | -25 | $ | 1,576 | |||||||||||
31-Dec-14 | |||||||||||||||||||
(in thousands) | |||||||||||||||||||
Amortized | Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||
Available for Sale: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
U.S. government agencies | $ | 26,687 | $ | 305 | $ | -275 | $ | 26,717 | |||||||||||
States and political subdivisions | 30,182 | 927 | -49 | 31,060 | |||||||||||||||
Total debt securities | $ | 56,869 | $ | 1,232 | $ | -324 | $ | 57,777 | |||||||||||
Mortgage-backed securities: | |||||||||||||||||||
FNMA | $ | 14,653 | $ | 516 | $ | -15 | $ | 15,154 | |||||||||||
FHLMC | 5,901 | 121 | -64 | 5,958 | |||||||||||||||
GNMA | 6,014 | 143 | -27 | 6,130 | |||||||||||||||
CMO | 10,611 | 42 | -139 | 10,514 | |||||||||||||||
Total mortgage-backed securities | $ | 37,179 | $ | 822 | $ | -245 | $ | 37,756 | |||||||||||
Total securities designated as available for sale | $ | 94,048 | $ | 2,054 | $ | -569 | $ | 95,533 | |||||||||||
Held to Maturity: | |||||||||||||||||||
Debt securities | |||||||||||||||||||
States and political subdivisions | $ | 1,599 | $ | 7 | $ | -32 | $ | 1,574 | |||||||||||
Total securities designated as held to maturity | $ | 1,599 | $ | 7 | $ | -32 | $ | 1,574 | |||||||||||
Scheduled Maturities Of Debt And Mortgage Backed Securities | |||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||
Amortized | Estimated | Amortized | Estimated | ||||||||||||||||
cost | fair value | cost | fair value | ||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||
Debt securities available for sale: | |||||||||||||||||||
Due in one year or less | $ | 8,033 | $ | 8,084 | $ | 8,172 | $ | 8,256 | |||||||||||
Due after one year through five years | 23,284 | 23,893 | 22,118 | 22,597 | |||||||||||||||
Due after five years through ten years | 19,310 | 19,590 | 20,517 | 20,589 | |||||||||||||||
Due after ten years | 6,954 | 7,221 | 6,062 | 6,335 | |||||||||||||||
57,581 | 58,788 | 56,869 | 57,777 | ||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||
available for sale | 38,786 | 39,605 | 37,179 | 37,756 | |||||||||||||||
Total available for sale securities | $ | 96,367 | $ | 98,393 | $ | 94,048 | $ | 95,533 | |||||||||||
Debt securities held to maturity: | |||||||||||||||||||
Due in one year or less | $ | 478 | $ | 478 | $ | 478 | $ | 477 | |||||||||||
Due after one year through five years | 66 | 67 | 77 | 78 | |||||||||||||||
Due after five years through ten years | 932 | 924 | 932 | 914 | |||||||||||||||
Due after ten years | 112 | 107 | 112 | 105 | |||||||||||||||
1,588 | 1,576 | 1,599 | 1,574 | ||||||||||||||||
Total held to maturity securities | $ | 1,588 | $ | 1,576 | $ | 1,599 | $ | 1,574 | |||||||||||
Unrealized Losses On Available For Sale Securities | |||||||||||||||||||
31-Mar-15 | |||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(in thousands) | |||||||||||||||||||
Available for Sale: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
U.S. government agencies | $ | 1,991 | $ | -9 | $ | 5,887 | $ | -113 | $ | 7,878 | $ | -122 | |||||||
States and political subdivisions | 1,989 | -10 | 1,130 | -18 | 3,119 | -28 | |||||||||||||
Total debt securities | $ | 3,980 | $ | -19 | $ | 7,017 | $ | -131 | $ | 10,997 | $ | -150 | |||||||
Mortgage-backed securities: | |||||||||||||||||||
FNMA | $ | - | $ | - | $ | - | - | $ | - | $ | - | $ | - | ||||||
FHLMC | - | - | 1,454 | -46 | 1,454 | -46 | |||||||||||||
GNMA | 1,207 | -1 | 795 | -8 | 2,002 | -9 | |||||||||||||
CMO'S | 1,670 | -4 | 4,232 | -52 | 5,902 | -56 | |||||||||||||
Total mortgage-backed securities | $ | 2,877 | $ | -5 | $ | 6,481 | $ | -106 | $ | 9,358 | $ | -111 | |||||||
Held To Maturity: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
States and political subdivisions | $ | 371 | $ | -1 | $ | 473 | $ | -24 | $ | 844 | $ | -25 | |||||||
Total temporarily impaired | |||||||||||||||||||
securities | $ | 7,228 | $ | -25 | $ | 13,971 | $ | -261 | $ | 21,199 | $ | -286 | |||||||
31-Dec-14 | |||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(in thousands) | |||||||||||||||||||
Available for Sale: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
U.S. government agencies | $ | 3,906 | $ | -26 | $ | 7,751 | $ | -249 | $ | 11,657 | $ | -275 | |||||||
States and political subdivisions | 4,752 | -9 | 1,902 | -40 | 6,654 | -49 | |||||||||||||
Total debt securities | $ | 8,658 | $ | -35 | $ | 9,653 | $ | -289 | $ | 18,311 | $ | -324 | |||||||
Mortgage-backed securities: | |||||||||||||||||||
FNMA | $ | 1,498 | $ | -10 | $ | 1,731 | $ | -5 | $ | 3,229 | $ | -15 | |||||||
FHLMC | - | - | 1,482 | -64 | 1,482 | -64 | |||||||||||||
GNMA | - | - | 2,079 | -27 | 2,079 | -27 | |||||||||||||
CMO'S | 1,722 | -11 | 4,290 | -128 | 6,012 | -139 | |||||||||||||
Total mortgage-backed securities | $ | 3,220 | $ | -21 | $ | 9,582 | $ | -224 | $ | 12,802 | $ | -245 | |||||||
Held To Maturity: | |||||||||||||||||||
Debt securities: | |||||||||||||||||||
States and political subdivisions | $ | 371 | $ | -1 | $ | 556 | $ | -31 | $ | 927 | $ | -32 | |||||||
Total temporarily impaired | |||||||||||||||||||
securities | $ | 12,249 | $ | -57 | $ | 19,791 | $ | -544 | $ | 32,040 | $ | -601 | |||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Fair Value Measurements [Abstract] | |||||||||||||
Financial Instruments Measured At Fair Value On Recurring Basis | |||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||
31-Mar-15 | |||||||||||||
Securities available-for-sale: | |||||||||||||
U.S. government agencies | $ | - | $ | 26,859 | $ | - | $ | 26,859 | |||||
States and political subdivisions | - | 31,929 | - | 31,929 | |||||||||
Mortgage-backed securities | - | 39,605 | - | 39,605 | |||||||||
Mortgage servicing rights | - | - | 497 | 497 | |||||||||
31-Dec-14 | |||||||||||||
Securities available-for-sale: | |||||||||||||
U.S. government agencies | $ | - | $ | 26,717 | $ | - | $ | 26,717 | |||||
States and political subdivisions | - | 31,060 | - | 31,060 | |||||||||
Mortgage-backed securities | - | 37,756 | - | 37,756 | |||||||||
Mortgage servicing rights | - | - | 518 | 518 | |||||||||
Changes In Fair Value For Mortgage Servicing Rights | |||||||||||||
Three months ended March 31, | |||||||||||||
(in thousands) | 2015 | 2014 | |||||||||||
Mortgage servicing rights - January 1 | $ | 518 | $ | 509 | |||||||||
Gains (losses) included in earnings | -45 | -38 | |||||||||||
Additions from loan sales | 24 | - | |||||||||||
Mortgage servicing rights - March 31 | $ | 497 | $ | 471 | |||||||||
Quantitative Information About Significant Unobservable Inputs Used In The Fair Value Measurement Of MSRs | |||||||||||||
3/31/15 | 12/31/14 | ||||||||||||
Servicing fees | 0.25 | % | 0.25 | % | |||||||||
Discount rate | 9.52 | % | 9.52 | % | |||||||||
Prepayment rate (CPR) | 9.80 | % | 9.28 | % | |||||||||
Financial Instruments Measured At Fair Value On Nonrecurring Basis | |||||||||||||
(in thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||
31-Mar-15 | |||||||||||||
Impaired loans | $ | - | - | 14,569 | $ | 14,569 | |||||||
31-Dec-14 | |||||||||||||
Impaired loans | $ | - | - | 13,716 | $ | 13,716 | |||||||
Estimated Fair Value Of The Company's Financial Instruments | |||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||
Amount | Value | Amount | Value | ||||||||||
(in thousands) | (in thousands) | ||||||||||||
Financial assets: | |||||||||||||
Level 1: | |||||||||||||
Cash and cash equivalents | $ | 60,694 | $ | 60,694 | $ | 10,898 | $ | 10,898 | |||||
Level 2: | |||||||||||||
Available for sale securities | 98,393 | 98,393 | 95,533 | 95,533 | |||||||||
FHLB and FRB stock | 2,308 | 2,308 | 2,925 | 2,925 | |||||||||
Level 3: | |||||||||||||
Held to maturity securities | 1,588 | 1,576 | 1,599 | 1,574 | |||||||||
Loans and leases, net | 688,961 | 700,338 | 683,131 | 685,148 | |||||||||
Mortgage servicing rights | 497 | 497 | 518 | 518 | |||||||||
Financial liabilities: | |||||||||||||
Level 1: | |||||||||||||
Demand deposits | $ | 169,965 | $ | 169,965 | $ | 158,631 | $ | 158,631 | |||||
NOW deposits | 82,956 | 82,956 | 72,670 | 72,670 | |||||||||
Regular savings deposits | 416,317 | 416,317 | 363,542 | 363,542 | |||||||||
Commitments to extend credit | 93 | 93 | 245 | 245 | |||||||||
Securities sold under agreement to | |||||||||||||
repurchase | 10,673 | 10,673 | 13,778 | 13,778 | |||||||||
Level 2: | |||||||||||||
Other borrowed funds | - | - | 13,700 | 13,700 | |||||||||
Junior subordinated debentures | 11,330 | 11,330 | 11,330 | 11,330 | |||||||||
Level 3: | |||||||||||||
Time deposits | 111,120 | 110,678 | 112,792 | 113,854 | |||||||||
Loans_And_The_Allowance_For_Lo1
Loans And The Allowance For Loan Losses (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Loans And The Allowance For Loan Losses [Abstract] | |||||||||||||||||||||||||
Major Categories Of Loans And Leases | |||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||
Mortgage loans on real estate: | (in thousands) | ||||||||||||||||||||||||
Residential Mortgages | $ | 100,548 | $ | 98,374 | |||||||||||||||||||||
Commercial and multi-family | 366,657 | 363,252 | |||||||||||||||||||||||
Construction-Residential | 238 | 721 | |||||||||||||||||||||||
Construction-Commercial | 39,723 | 40,986 | |||||||||||||||||||||||
Home equities | 59,689 | 59,948 | |||||||||||||||||||||||
Total real estate loans | 566,855 | 563,281 | |||||||||||||||||||||||
Commercial and industrial loans | 132,416 | 129,456 | |||||||||||||||||||||||
Consumer loans | 1,704 | 1,764 | |||||||||||||||||||||||
Other | 122 | 404 | |||||||||||||||||||||||
Net deferred loan origination costs | 641 | 759 | |||||||||||||||||||||||
Total gross loans | 701,738 | 695,664 | |||||||||||||||||||||||
Allowance for loan losses | -12,777 | -12,533 | |||||||||||||||||||||||
Loans, net | $ | 688,961 | $ | 683,131 | |||||||||||||||||||||
Data, At The Class Level, Of Credit Quality Indicators Of Certain Loans And Leases | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Corporate Credit Exposure – By Credit Rating | Commercial Real Estate Construction | Commercial and Multi-Family Mortgages | Total Commercial Real Estate | Commercial and Industrial | |||||||||||||||||||||
3 | $ | 33,644 | $ | 308,059 | $ | 341,703 | $ | 86,254 | |||||||||||||||||
4 | 1,235 | 42,901 | 44,136 | 29,712 | |||||||||||||||||||||
5 | 4,844 | 9,974 | 14,818 | 8,652 | |||||||||||||||||||||
6 | - | 5,723 | 5,723 | 7,687 | |||||||||||||||||||||
7 | - | - | - | 111 | |||||||||||||||||||||
Total | $ | 39,723 | $ | 366,657 | $ | 406,380 | $ | 132,416 | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Corporate Credit Exposure – By Credit Rating | Commercial Real Estate Construction | Commercial and Multi-Family Mortgages | Total Commercial Real Estate | Commercial and Industrial | |||||||||||||||||||||
3 | $ | 29,421 | $ | 299,798 | $ | 329,219 | $ | 83,789 | |||||||||||||||||
4 | 10,492 | 50,691 | 61,183 | 30,223 | |||||||||||||||||||||
5 | 1,073 | 7,853 | 8,926 | 8,662 | |||||||||||||||||||||
6 | - | 4,757 | 4,757 | 6,613 | |||||||||||||||||||||
7 | - | 153 | 153 | 169 | |||||||||||||||||||||
Total | $ | 40,986 | $ | 363,252 | $ | 404,238 | $ | 129,456 | |||||||||||||||||
Recorded Investment In Loans And Leases Past Due | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Total Past | Current | Total | 90+ Days | Non-accruing | |||||||||||||||||||||
30-59 days | 60-89 days | 90+ days | Due | Balance | Balance | Accruing | Loans | ||||||||||||||||||
Commercial and | |||||||||||||||||||||||||
industrial | $ | 663 | $ | 117 | $ | 25 | $ | 805 | $ | 131,611 | $ | 132,416 | $ | - | $ | 6,380 | |||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 345 | 189 | 473 | 1,007 | 99,541 | 100,548 | - | 1,275 | |||||||||||||||||
Construction | - | - | - | - | 238 | 238 | - | - | |||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 1,923 | 247 | 302 | 2,472 | 364,185 | 366,657 | 192 | 2,938 | |||||||||||||||||
Construction | 5,848 | - | 513 | 6,361 | 33,362 | 39,723 | 513 | - | |||||||||||||||||
Home equities | 911 | 13 | 279 | 1,203 | 58,486 | 59,689 | - | 489 | |||||||||||||||||
Consumer | 15 | 19 | - | 34 | 1,670 | 1,704 | - | 17 | |||||||||||||||||
Other | - | - | - | - | 122 | 122 | - | - | |||||||||||||||||
Total Loans | $ | 9,705 | $ | 585 | $ | 1,592 | $ | 11,882 | $ | 689,215 | $ | 701,097 | $ | 705 | $ | 11,099 | |||||||||
NOTE: Loan and lease balances do not include $641 thousand in net deferred loan origination costs as of March 31, 2015. | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Total Past | Current | Total | 90+ Days | Non-accruing | |||||||||||||||||||||
30-59 days | 60-89 days | 90+ days | Due | Balance | Balance | Accruing | Loans | ||||||||||||||||||
Commercial and | |||||||||||||||||||||||||
industrial | $ | 153 | $ | 60 | $ | 274 | $ | 487 | $ | 128,969 | $ | 129,456 | $ | - | $ | 5,500 | |||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 848 | 158 | 682 | 1,688 | 96,686 | 98,374 | - | 1,296 | |||||||||||||||||
Construction | - | - | - | - | 721 | 721 | - | - | |||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 4,201 | 3,115 | 513 | 7,829 | 355,423 | 363,252 | - | 3,162 | |||||||||||||||||
Construction | 8 | - | 201 | 209 | 40,777 | 40,986 | 201 | - | |||||||||||||||||
Home equities | 594 | 120 | 192 | 906 | 59,042 | 59,948 | - | 415 | |||||||||||||||||
Consumer | 13 | 1 | - | 14 | 1,750 | 1,764 | - | 17 | |||||||||||||||||
Other | - | - | - | - | 404 | 404 | - | - | |||||||||||||||||
Total Loans | $ | 5,817 | $ | 3,454 | $ | 1,862 | $ | 11,133 | $ | 683,772 | $ | 694,905 | $ | 201 | $ | 10,390 | |||||||||
NOTE: Loan and lease balances do not include $759 thousand in net deferred loan origination costs as of December 31, 2014. | |||||||||||||||||||||||||
Summary Of The Allowance For Loan And Lease Losses By Management Level Segments | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
(in thousands) | Commercial and Industrial | Commercial Real Estate Mortgages* | Consumer ** | Residential Mortgages* | HELOC | Direct Financing Leases | Unallocated | Total | |||||||||||||||||
Allowance for loan | |||||||||||||||||||||||||
losses: | |||||||||||||||||||||||||
Beginning balance | $ | 4,896 | $ | 5,650 | $ | 78 | $ | 941 | $ | 819 | $ | - | $ | 149 | $ | 12,533 | |||||||||
Charge-offs | - | - | -6 | - | - | - | - | -6 | |||||||||||||||||
Recoveries | 38 | 10 | 1 | - | - | - | - | 49 | |||||||||||||||||
Provision | 55 | 170 | -3 | -17 | -4 | - | - | 201 | |||||||||||||||||
Ending balance | $ | 4,989 | $ | 5,830 | $ | 70 | $ | 924 | $ | 815 | $ | - | $ | 149 | $ | 12,777 | |||||||||
Allowance for loan | |||||||||||||||||||||||||
losses: | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||
Individually evaluated | |||||||||||||||||||||||||
for impairment | $ | 978 | $ | 124 | $ | 47 | $ | 3 | $ | - | $ | - | $ | - | $ | 1,152 | |||||||||
Collectively evaluated | |||||||||||||||||||||||||
for impairment | 4,011 | 5,706 | 23 | 921 | 815 | - | 149 | 11,625 | |||||||||||||||||
Total | $ | 4,989 | $ | 5,830 | $ | 70 | $ | 924 | $ | 815 | $ | - | $ | 149 | $ | 12,777 | |||||||||
Loans: | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||
Individually evaluated | |||||||||||||||||||||||||
for impairment | $ | 6,577 | $ | 5,604 | $ | 47 | $ | 2,512 | $ | 981 | $ | - | $ | - | $ | 15,721 | |||||||||
Collectively evaluated | |||||||||||||||||||||||||
for impairment | 125,839 | 400,776 | 1,779 | 98,274 | 58,708 | - | - | 685,376 | |||||||||||||||||
Total | $ | 132,416 | $ | 406,380 | $ | 1,826 | $ | 100,786 | $ | 59,689 | $ | - | $ | - | $ | 701,097 | |||||||||
* Includes construction loans | |||||||||||||||||||||||||
** Includes all other consumer loans | |||||||||||||||||||||||||
NOTE: Loan balances do not include $641 thousand in net deferred loan origination costs as of March 31, 2015. | |||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||
(in thousands) | Commercial and Industrial | Commercial Real Estate Mortgages* | Consumer ** | Residential Mortgages* | HELOC | Direct Financing Leases | Unallocated | Total | |||||||||||||||||
Allowance for loan | |||||||||||||||||||||||||
losses: | |||||||||||||||||||||||||
Beginning balance | $ | 4,489 | $ | 4,912 | $ | 37 | $ | 1,038 | $ | 878 | $ | - | $ | 149 | $ | 11,503 | |||||||||
Charge-offs | -57 | - | -6 | - | -1 | - | - | -64 | |||||||||||||||||
Recoveries | 28 | 29 | 2 | - | - | 83 | - | 142 | |||||||||||||||||
Provision | 63 | 167 | 3 | -1 | 4 | -83 | - | 153 | |||||||||||||||||
Ending balance | $ | 4,523 | $ | 5,108 | $ | 36 | $ | 1,037 | $ | 881 | $ | - | $ | 149 | $ | 11,734 | |||||||||
Allowance for loan | |||||||||||||||||||||||||
losses: | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||
Individually evaluated | |||||||||||||||||||||||||
for impairment | $ | 1,182 | $ | 210 | $ | 19 | $ | - | $ | - | $ | - | $ | - | $ | 1,411 | |||||||||
Collectively evaluated | |||||||||||||||||||||||||
for impairment | 3,341 | 4,898 | 17 | 1,037 | 881 | - | 149 | 10,323 | |||||||||||||||||
Total | $ | 4,523 | $ | 5,108 | $ | 36 | $ | 1,037 | $ | 881 | $ | - | $ | 149 | $ | 11,734 | |||||||||
Loans: | |||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||
Individually evaluated | |||||||||||||||||||||||||
for impairment | $ | 4,291 | $ | 11,579 | $ | 19 | $ | 2,100 | $ | 284 | $ | - | $ | - | $ | 18,273 | |||||||||
Collectively evaluated | |||||||||||||||||||||||||
for impairment | 106,653 | 380,194 | 1,576 | 96,268 | 57,080 | - | - | 641,771 | |||||||||||||||||
Total | $ | 110,944 | $ | 391,773 | $ | 1,595 | $ | 98,368 | $ | 57,364 | $ | - | $ | - | $ | 660,044 | |||||||||
* Includes construction loans | |||||||||||||||||||||||||
** Includes all other consumer loans | |||||||||||||||||||||||||
NOTE: Loan balances do not include $651 thousand in net deferred loan origination costs as of March 31, 2014. | |||||||||||||||||||||||||
Impaired Loans And Leases | |||||||||||||||||||||||||
At March 31, 2015 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
With no related allowance recorded: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 1,330 | $ | 1,461 | $ | - | $ | 1,416 | $ | 148 | $ | 7 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 2,241 | 2,419 | - | 2,253 | 12 | 11 | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 1,922 | 2,016 | - | 1,956 | 6 | 18 | |||||||||||||||||||
Construction | 1,103 | 1,103 | - | 1,128 | - | 12 | |||||||||||||||||||
Home equities | 981 | 1,025 | - | 991 | 6 | 4 | |||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 7,577 | $ | 8,024 | $ | - | $ | 7,744 | $ | 172 | $ | 52 | |||||||||||||
At March 31, 2015 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
With a related allowance recorded: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 5,247 | $ | 5,324 | $ | 978 | $ | 5,283 | $ | 75 | $ | 12 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 271 | 285 | 3 | 271 | 5 | - | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 2,579 | 2,758 | 124 | 2,670 | 35 | - | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Home equities | - | - | - | - | - | - | |||||||||||||||||||
Consumer | 47 | 60 | 47 | 48 | 1 | 1 | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 8,144 | $ | 8,427 | $ | 1,152 | $ | 8,272 | $ | 116 | $ | 13 | |||||||||||||
At March 31, 2015 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
Total: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 6,577 | $ | 6,785 | $ | 978 | $ | 6,699 | $ | 223 | $ | 19 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 2,512 | 2,704 | 3 | 2,524 | 17 | 11 | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 4,501 | 4,774 | 124 | 4,626 | 41 | 18 | |||||||||||||||||||
Construction | 1,103 | 1,103 | - | 1,128 | - | 12 | |||||||||||||||||||
Home equities | 981 | 1,025 | - | 991 | 6 | 4 | |||||||||||||||||||
Consumer | 47 | 60 | 47 | 48 | 1 | 1 | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 15,721 | $ | 16,451 | $ | 1,152 | $ | 16,016 | $ | 288 | $ | 65 | |||||||||||||
At December 31, 2014 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
With no related allowance recorded: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 1,017 | $ | 1,022 | $ | - | $ | 1,096 | $ | 9 | $ | 66 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 2,264 | 2,435 | - | 2,271 | 37 | 68 | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 2,103 | 2,208 | - | 2,139 | 33 | 91 | |||||||||||||||||||
Construction | 1,074 | 1,074 | - | 1,169 | - | 44 | |||||||||||||||||||
Home equities | 911 | 950 | - | 917 | 17 | 22 | |||||||||||||||||||
Consumer | - | - | - | - | - | - | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 7,369 | $ | 7,689 | $ | - | $ | 7,592 | $ | 96 | $ | 291 | |||||||||||||
At December 31, 2014 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
With a related allowance recorded: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 4,701 | $ | 4,734 | $ | 988 | $ | 4,701 | $ | 64 | $ | 234 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 271 | 285 | 3 | 271 | 20 | - | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 2,640 | 2,785 | 274 | 2,708 | 96 | 50 | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Home equities | - | - | - | - | - | - | |||||||||||||||||||
Consumer | 48 | 60 | 48 | 49 | 5 | 6 | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 7,660 | $ | 7,864 | $ | 1,313 | $ | 7,729 | $ | 185 | $ | 290 | |||||||||||||
At December 31, 2014 | |||||||||||||||||||||||||
Recorded Investment | Unpaid Principal Balance | Related Allowance | Average Recorded Investment | Interest Income Foregone | Interest Income Recognized | ||||||||||||||||||||
Total: | (in thousands) | ||||||||||||||||||||||||
Commercial and industrial | $ | 5,718 | $ | 5,756 | $ | 988 | $ | 5,797 | $ | 73 | $ | 300 | |||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 2,535 | 2,720 | 3 | 2,542 | 57 | 68 | |||||||||||||||||||
Construction | - | - | - | - | - | - | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial | 4,743 | 4,993 | 274 | 4,847 | 129 | 141 | |||||||||||||||||||
Construction | 1,074 | 1,074 | - | 1,169 | - | 44 | |||||||||||||||||||
Home equities | 911 | 950 | - | 917 | 17 | 22 | |||||||||||||||||||
Consumer | 48 | 60 | 48 | 49 | 5 | 6 | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 15,029 | $ | 15,553 | $ | 1,313 | $ | 15,321 | $ | 281 | $ | 581 | |||||||||||||
Non-Accrual Loans And Leases And Loans And Leases 90 Days Or More Past Due | |||||||||||||||||||||||||
31-Mar-15 | 31-Dec-14 | ||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Non-accruing loans: | |||||||||||||||||||||||||
Commercial and industrial loans | $ | 6,380 | $ | 5,500 | |||||||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 1,275 | 1,296 | |||||||||||||||||||||||
Construction | - | - | |||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial and multi-family | 2,938 | 3,162 | |||||||||||||||||||||||
Construction | - | - | |||||||||||||||||||||||
Home equities | 489 | 415 | |||||||||||||||||||||||
Consumer loans | 17 | 17 | |||||||||||||||||||||||
Other | - | - | |||||||||||||||||||||||
Total non-accruing loans | $ | 11,099 | $ | 10,390 | |||||||||||||||||||||
Accruing loans 90+ days past due | 705 | 201 | |||||||||||||||||||||||
Total non-performing loans | $ | 11,804 | $ | 10,591 | |||||||||||||||||||||
Total non-performing loans | |||||||||||||||||||||||||
to total assets | 1.31 | % | 1.25 | % | |||||||||||||||||||||
Total non-performing loans | |||||||||||||||||||||||||
to total loans | 1.68 | % | 1.52 | % | |||||||||||||||||||||
Troubled Debt Restructured Loans And Leases | |||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||
($ in thousands) | |||||||||||||||||||||||||
Total | Nonaccruing | Accruing | Related Allowance | ||||||||||||||||||||||
Commercial and industrial | $ | 874 | $ | 677 | $ | 197 | $ | 200 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 1,824 | 586 | 1,238 | - | |||||||||||||||||||||
Construction | - | - | - | - | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial and multi family | 2,238 | 675 | 1,563 | 33 | |||||||||||||||||||||
Construction | 1,103 | - | 1,103 | - | |||||||||||||||||||||
Home equities | 719 | 228 | 491 | - | |||||||||||||||||||||
Consumer loans | 30 | - | 30 | 30 | |||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||
Total troubled restructured loans | $ | 6,788 | $ | 2,166 | $ | 4,622 | $ | 263 | |||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
($ in thousands) | |||||||||||||||||||||||||
Total | Nonaccruing | Accruing | Related Allowance | ||||||||||||||||||||||
Commercial and industrial | $ | 492 | $ | 274 | $ | 218 | $ | 173 | |||||||||||||||||
Residential real estate: | |||||||||||||||||||||||||
Residential | 1,833 | 594 | 1,239 | - | |||||||||||||||||||||
Construction | - | - | - | - | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Commercial and multi family | 2,428 | 847 | 1,581 | 33 | |||||||||||||||||||||
Construction | 1,074 | - | 1,074 | - | |||||||||||||||||||||
Home equities | 728 | 233 | 495 | - | |||||||||||||||||||||
Consumer loans | 31 | - | 31 | 31 | |||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||
Total troubled restructured loans | $ | 6,586 | $ | 1,948 | $ | 4,638 | $ | 237 | |||||||||||||||||
Troubled Debt Restructurings Activity | |||||||||||||||||||||||||
Three months ended March 31, 2015 | Three months ended March 31, 2014 | ||||||||||||||||||||||||
($ in thousands) | ($ in thousands) | ||||||||||||||||||||||||
Troubled Debt Restructurings by Type of Concession | Number of Contracts | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number of Contracts | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | |||||||||||||||||||
Commercial and Industrial: | |||||||||||||||||||||||||
Deferral of principal | 3 | $ | 541 | $ | 541 | - | $ | - | $ | - | |||||||||||||||
Residential Real Estate & Construction: | |||||||||||||||||||||||||
Deferral of principal | - | - | - | - | - | - | |||||||||||||||||||
Commercial Real Estate & Construction | |||||||||||||||||||||||||
Deferral of principal | - | - | - | - | - | - | |||||||||||||||||||
Home Equities: | |||||||||||||||||||||||||
Deferral of principal | - | - | - | - | - | - | |||||||||||||||||||
Consumer loans | - | - | - | - | - | - | |||||||||||||||||||
Other | - | - | - | - | - | - | |||||||||||||||||||
Troubled Debt Restructurings On Financing Receivables That Subsequently Defaulted | |||||||||||||||||||||||||
Three months ended March 31, 2015 | Three months ended March 31, 2014 | ||||||||||||||||||||||||
($ in thousands) | ($ in thousands) | ||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||
That Subsequently Defaulted | Contracts | Investment | Contracts | Investment | |||||||||||||||||||||
Commercial and Industrial | - | $ | - | - | $ | - | |||||||||||||||||||
Residential Real Estate: | |||||||||||||||||||||||||
Residential | - | - | - | - | |||||||||||||||||||||
Construction | - | - | - | - | |||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||
Commercial and Multi-Family | - | - | - | - | |||||||||||||||||||||
Construction | - | - | - | - | |||||||||||||||||||||
Home Equities | 1 | 19 | - | - | |||||||||||||||||||||
Consumer loans | - | - | - | - | |||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||
Other_Comprehensive_Income_Tab
Other Comprehensive Income (Tables) | 3 Months Ended | ||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||
Other Comprehensive Income [Abstract] | |||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||
Balance at December 31, 2014 | Net Change | Balance at March 31, 2015 | |||||||||||||||||
(in thousands) | |||||||||||||||||||
Net unrealized gain (loss) on investment securities | $ | 911 | $ | 331 | $ | 1,242 | |||||||||||||
Net defined benefit pension plans adjustments | -2,419 | 29 | -2,390 | ||||||||||||||||
Total | $ | -1,508 | $ | 360 | $ | -1,148 | |||||||||||||
Balance at December 31, 2013 | Net Change | Balance at March 31, 2014 | |||||||||||||||||
(in thousands) | |||||||||||||||||||
Net unrealized gain (loss) on investment securities | $ | 191 | $ | 361 | $ | 552 | |||||||||||||
Net defined benefit pension plans adjustments | -1,454 | 21 | -1,433 | ||||||||||||||||
Total | $ | -1,263 | $ | 382 | $ | -881 | |||||||||||||
Components Of Other Comprehensive Income (Loss) | |||||||||||||||||||
Three months ended March 31, 2015 | Three months ended March 31, 2014 | ||||||||||||||||||
(in thousands) | (in thousands) | ||||||||||||||||||
Before-Tax Amount | Income Tax (Provision) Benefit | Net-of-Tax Amount | Before-Tax Amount | Income Tax (Provision) Benefit | Net-of-Tax Amount | ||||||||||||||
Unrealized loss on investment securities: | |||||||||||||||||||
Unrealized gain (loss) on investment securities | $ | 541 | $ | -210 | $ | 331 | $ | 588 | $ | -227 | $ | 361 | |||||||
Reclassification from accumulated other | |||||||||||||||||||
comprehensive income for gains (losses) | - | - | - | - | - | - | |||||||||||||
Net change | 541 | -210 | 331 | 588 | -227 | 361 | |||||||||||||
Defined benefit pension plans adjustments: | |||||||||||||||||||
Net actuarial (loss) gain | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||
Reclassifications from accumulated other | |||||||||||||||||||
comprehensive income for gains (losses) | |||||||||||||||||||
Amortization of prior service cost (a) | 7 | -2 | 5 | 8 | -3 | 5 | |||||||||||||
Amortization of actuarial loss (a) | 48 | -24 | 24 | 26 | -10 | 16 | |||||||||||||
Net change | 55 | -26 | 29 | 34 | -13 | 21 | |||||||||||||
Other Comprehensive Income (Loss) | $ | 596 | $ | -236 | $ | 360 | $ | 622 | $ | -240 | $ | 382 | |||||||
(a) Included in net periodic pension cost, as described in Note 9 – “Net Periodic Benefit Costs” | |||||||||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 3 Months Ended | |||||||||
Mar. 31, 2015 | ||||||||||
Segment Information [Abstract] | ||||||||||
Business Segment Information | ||||||||||
Three months ended March 31, 2015 | ||||||||||
Banking | Insurance Agency | |||||||||
Activities | Activities | Total | ||||||||
(in thousands) | ||||||||||
Net interest income (expense) | $ | 7,609 | $ | -28 | $ | 7,581 | ||||
Provision for loan and lease losses | 201 | - | 201 | |||||||
Net interest income (expense) after | ||||||||||
provision for loan and lease losses | 7,408 | -28 | 7,380 | |||||||
Non-interest income | 1,237 | - | 1,237 | |||||||
Insurance service and fees | 162 | 1,667 | 1,829 | |||||||
Net gain on sales and calls of securities | - | - | - | |||||||
Amortization expense | - | - | - | |||||||
Non-interest expense | 6,481 | 1,031 | 7,512 | |||||||
Income before income taxes | 2,326 | 608 | 2,934 | |||||||
Income tax provision | 794 | 235 | 1,029 | |||||||
Net income | $ | 1,532 | $ | 373 | $ | 1,905 | ||||
Three months ended March 31, 2014 | ||||||||||
Banking | Insurance Agency | |||||||||
Activities | Activities | Total | ||||||||
(in thousands) | ||||||||||
Net interest income (expense) | $ | 7,326 | $ | -28 | $ | 7,298 | ||||
Provision for loan and lease losses | 153 | - | 153 | |||||||
Net interest income (expense) after | ||||||||||
provision for loan and lease losses | 7,173 | -28 | 7,145 | |||||||
Non-interest income | 1,263 | - | 1,263 | |||||||
Insurance service and fees | 152 | 1,980 | 2,132 | |||||||
Net gain on sales and calls of securities | - | - | - | |||||||
Amortization expense | - | 41 | 41 | |||||||
Non-interest expense | 6,477 | 1,100 | 7,577 | |||||||
Income before income taxes | 2,111 | 811 | 2,922 | |||||||
Income tax provision | 596 | 313 | 909 | |||||||
Net income | $ | 1,515 | $ | 498 | $ | 2,013 | ||||
Contingent_Liabilities_And_Com1
Contingent Liabilities And Commitments (Tables) | 3 Months Ended | ||||||
Mar. 31, 2015 | |||||||
Contingent Liabilities And Commitments [Abstract] | |||||||
Summary Of Commitments And Contingent Liabilities | |||||||
March 31, | December 31, | ||||||
2015 | 2014 | ||||||
(in thousands) | |||||||
Commitments to extend credit | $ | 234,311 | $ | 212,193 | |||
Standby letters of credit | 2,767 | 2,430 | |||||
Total | $ | 237,078 | $ | 214,623 | |||
Net_Periodic_Benefit_Costs_Tab
Net Periodic Benefit Costs (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Net Periodic Benefit Costs [Abstract] | |||||||||||||
Schedule Of Net Periodic Benefit Costs | |||||||||||||
Three months ended March 31, | |||||||||||||
(in thousands) | |||||||||||||
Supplemental Executive | |||||||||||||
Pension Benefits | Retirement Plan | ||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||
Service cost | $ | - | $ | - | $ | 48 | $ | 42 | |||||
Interest cost | 51 | 51 | 37 | 40 | |||||||||
Expected return on plan assets | -77 | -76 | - | - | |||||||||
Amortization of prior service cost | - | - | 7 | 8 | |||||||||
Amortization of the net loss | 17 | 5 | 31 | 21 | |||||||||
Net periodic cost (benefit) | $ | -9 | $ | -20 | $ | 123 | $ | 111 | |||||
Organization_And_Summary_Of_Si1
Organization And Summary Of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Depreciation and amortization | $356 | $422 |
Change in other assets | -327 | 377 |
Change in other liabilities | -592 | -1,069 |
Scenario, Adjustment [Member] | ||
Depreciation and amortization | 40 | |
Change in other assets | 236 | |
Change in other liabilities | $276 |
Securities_Narrative_Details
Securities (Narrative) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Securities [Abstract] | ||
Available for sale securities pledged as collateral | $85,600,000 | $68,800,000 |
Borrowed funds with FHLBNY | 0 | 13,700,000 |
FHLB stock | $822,000 | $1,439,000 |
Securities_Schedule_Of_Amortiz
Securities (Schedule Of Amortized Cost And Fair Value Of Securities) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $96,367 | $94,048 |
Available-for-sale Securities, Unrealized Gains | 2,287 | 2,054 |
Available-for-sale Securities, Unrealized Losses | -261 | -569 |
Available-for-sale securities, Fair value | 98,393 | 95,533 |
Held-to-maturity Securities, Amortized Cost | 1,588 | 1,599 |
Held-to-maturity Securities, Unrealized Gains | 13 | 7 |
Held-to-maturity Securities, Unrealized Losses | -25 | -32 |
Held-to-maturity securities, Fair value | 1,576 | 1,574 |
US Government Agencies Debt Securities [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 26,593 | 26,687 |
Available-for-sale Securities, Unrealized Gains | 388 | 305 |
Available-for-sale Securities, Unrealized Losses | -122 | -275 |
Available-for-sale securities, Fair value | 26,859 | 26,717 |
States and Political Subdivisions Debt Securities [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 30,988 | 30,182 |
Available-for-sale Securities, Unrealized Gains | 969 | 927 |
Available-for-sale Securities, Unrealized Losses | -28 | -49 |
Available-for-sale securities, Fair value | 31,929 | 31,060 |
Held-to-maturity Securities, Amortized Cost | 1,588 | 1,599 |
Held-to-maturity Securities, Unrealized Gains | 13 | 7 |
Held-to-maturity Securities, Unrealized Losses | -25 | -32 |
Held-to-maturity securities, Fair value | 1,576 | 1,574 |
Debt Securities [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 57,581 | 56,869 |
Available-for-sale Securities, Unrealized Gains | 1,357 | 1,232 |
Available-for-sale Securities, Unrealized Losses | -150 | -324 |
Available-for-sale securities, Fair value | 58,788 | 57,777 |
FNMA [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 14,101 | 14,653 |
Available-for-sale Securities, Unrealized Gains | 578 | 516 |
Available-for-sale Securities, Unrealized Losses | -15 | |
Available-for-sale securities, Fair value | 14,679 | 15,154 |
FHLMC [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 5,620 | 5,901 |
Available-for-sale Securities, Unrealized Gains | 131 | 121 |
Available-for-sale Securities, Unrealized Losses | -46 | -64 |
Available-for-sale securities, Fair value | 5,705 | 5,958 |
GNMA [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 8,276 | 6,014 |
Available-for-sale Securities, Unrealized Gains | 133 | 143 |
Available-for-sale Securities, Unrealized Losses | -9 | -27 |
Available-for-sale securities, Fair value | 8,400 | 6,130 |
CMO [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 10,789 | 10,611 |
Available-for-sale Securities, Unrealized Gains | 88 | 42 |
Available-for-sale Securities, Unrealized Losses | -56 | -139 |
Available-for-sale securities, Fair value | 10,821 | 10,514 |
Mortgage-backed Securities [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 38,786 | 37,179 |
Available-for-sale Securities, Unrealized Gains | 930 | 822 |
Available-for-sale Securities, Unrealized Losses | -111 | -245 |
Available-for-sale securities, Fair value | $39,605 | $37,756 |
Securities_Scheduled_Maturitie
Securities (Scheduled Maturities Of Debt And Mortgage Backed Securities) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Securities [Abstract] | ||
Debt securities available for sale, Due in one year or less, Amortized cost | $8,033 | $8,172 |
Debt securities available for sale, Due after one year through five years, Amortized cost | 23,284 | 22,118 |
Debt securities available for sale, Due after five years through ten years, Amortized cost | 19,310 | 20,517 |
Debt securities available for sale, Due after ten years, Amortized cost | 6,954 | 6,062 |
Debt securities available for sale, Amortized cost | 57,581 | 56,869 |
Mortgage-backed securities available for sale, Amortized cost | 38,786 | 37,179 |
Available-for-sale securities, Amortized cost | 96,367 | 94,048 |
Debt securities available for sale, Due in one year or less, Fair value | 8,084 | 8,256 |
Debt securities available for sale, Due after one year through five years, Fair value | 23,893 | 22,597 |
Debt securities available for sale, Due after five years through ten years, Fair value | 19,590 | 20,589 |
Debt securities available for sale, Due after ten years, Fair value | 7,221 | 6,335 |
Debt securities available for sale, Fair value | 58,788 | 57,777 |
Mortgage-backed securities available for sale, Fair value | 39,605 | 37,756 |
Available-for-sale securities, Fair value | 98,393 | 95,533 |
Debt securities held to maturity, Due in one year or less, Amortized cost | 478 | 478 |
Debt securities held to maturity, Due after one year through five years, Amortized cost | 66 | 77 |
Debt securities held to maturity, Due after five years through ten years, Amortized cost | 932 | 932 |
Debt securities held to maturity, Due after ten years, Amortized cost | 112 | 112 |
Held to maturity securities Amortized cost | 1,588 | 1,599 |
Debt securities held to maturity, Due in one year or less, Fair value | 478 | 477 |
Debt securites held to maturity, Due after one year through five years, Fair value | 67 | 78 |
Debt securites held to maturity, Due after five years through ten years, Fair Value | 924 | 914 |
Debt securities held to maturity, Due after ten years, Fair value | 107 | 105 |
Held-to-maturity securities, Fair value | $1,576 | $1,574 |
Securities_Unrealized_Losses_O
Securities (Unrealized Losses On Available For Sale Securities) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Total temporarily impaired, Less than 12 months, Fair value | $7,228 | $12,249 |
Total temporarily impaired, More than 12 months, Fair Value | 13,971 | 19,791 |
Total temporarily impaired, Total, Fair value | 21,199 | 32,040 |
Total temporarily impaired, Less than 12 months, Unrealized losses | -25 | -57 |
Total temporarily impaired, More than 12 months, Unrealized losses | -261 | -544 |
Total temporarily impaired, Total, Unrealized losses | -286 | -601 |
US Government Agencies Debt Securities [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 1,991 | 3,906 |
Available for Sale, 12 months or longer, Fair Value | 5,887 | 7,751 |
Available for Sale, Total, Fair Value | 7,878 | 11,657 |
Available for sale, Less than 12 months, Unrealized losses | -9 | -26 |
Available for sale, 12 months or more, Unrealized losses | -113 | -249 |
Available for sale, Total, Unrealized losses | -122 | -275 |
States and Political Subdivisions Debt Securities [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 1,989 | 4,752 |
Available for Sale, 12 months or longer, Fair Value | 1,130 | 1,902 |
Available for Sale, Total, Fair Value | 3,119 | 6,654 |
Available for sale, Less than 12 months, Unrealized losses | -10 | -9 |
Available for sale, 12 months or more, Unrealized losses | -18 | -40 |
Available for sale, Total, Unrealized losses | -28 | -49 |
Held To Maturity, Less than 12 months, Fair Value | 371 | 371 |
Held To Maturity, 12 months or longer, Fair Value | 473 | 556 |
Held To Maturity, Total, Fair Value | 844 | 927 |
Held to maturity, Less than 12 months, Unrealized losses | -1 | -1 |
Held to maturity, 12 months or more, Unrealized losses | -24 | -31 |
Held to maturity, Total, Unrealized losses | -25 | -32 |
Debt Securities [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 3,980 | 8,658 |
Available for Sale, 12 months or longer, Fair Value | 7,017 | 9,653 |
Available for Sale, Total, Fair Value | 10,997 | 18,311 |
Available for sale, Less than 12 months, Unrealized losses | -19 | -35 |
Available for sale, 12 months or more, Unrealized losses | -131 | -289 |
Available for sale, Total, Unrealized losses | -150 | -324 |
FNMA [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 1,498 | |
Available for Sale, 12 months or longer, Fair Value | 1,731 | |
Available for Sale, Total, Fair Value | 3,229 | |
Available for sale, Less than 12 months, Unrealized losses | -10 | |
Available for sale, 12 months or more, Unrealized losses | -5 | |
Available for sale, Total, Unrealized losses | -15 | |
FHLMC [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available for Sale, 12 months or longer, Fair Value | 1,454 | 1,482 |
Available for Sale, Total, Fair Value | 1,454 | 1,482 |
Available for sale, 12 months or more, Unrealized losses | -46 | -64 |
Available for sale, Total, Unrealized losses | -46 | -64 |
GNMA [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 1,207 | |
Available for Sale, 12 months or longer, Fair Value | 795 | 2,079 |
Available for Sale, Total, Fair Value | 2,002 | 2,079 |
Available for sale, Less than 12 months, Unrealized losses | -1 | |
Available for sale, 12 months or more, Unrealized losses | -8 | -27 |
Available for sale, Total, Unrealized losses | -9 | -27 |
CMO [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 1,670 | 1,722 |
Available for Sale, 12 months or longer, Fair Value | 4,232 | 4,290 |
Available for Sale, Total, Fair Value | 5,902 | 6,012 |
Available for sale, Less than 12 months, Unrealized losses | -4 | -11 |
Available for sale, 12 months or more, Unrealized losses | -52 | -128 |
Available for sale, Total, Unrealized losses | -56 | -139 |
Mortgage-backed Securities [Member] | ||
Investments In Debt And Marketable Equity Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 2,877 | 3,220 |
Available for Sale, 12 months or longer, Fair Value | 6,481 | 9,582 |
Available for Sale, Total, Fair Value | 9,358 | 12,802 |
Available for sale, Less than 12 months, Unrealized losses | -5 | -21 |
Available for sale, 12 months or more, Unrealized losses | -106 | -224 |
Available for sale, Total, Unrealized losses | ($111) | ($245) |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value Measurements [Line Items] | ||
Impaired loans | 15,721 | $15,029 |
Impaired loans, related allowance | 1,152 | $1,313 |
Minimum [Member] | ||
Fair Value Measurements [Line Items] | ||
Discount on appraisals of the collateral securing the loan, range | 10.00% | |
Maximum [Member] | ||
Fair Value Measurements [Line Items] | ||
Discount on appraisals of the collateral securing the loan, range | 50.00% |
Fair_Value_Measurements_Financ
Fair Value Measurements (Financial Instruments Measured At Fair Value On Recurring Basis) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $98,393 | $95,533 |
Mortgage servicing rights | 497 | 518 |
Fair Value, Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | ||
Fair Value, Significant unobservable inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | 497 | 518 |
US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 26,859 | 26,717 |
US Government Agencies Debt Securities [Member] | Fair Value, Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | ||
US Government Agencies Debt Securities [Member] | Fair Value, Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 26,859 | 26,717 |
States and Political Subdivisions Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 31,929 | 31,060 |
States and Political Subdivisions Debt Securities [Member] | Fair Value, Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | ||
States and Political Subdivisions Debt Securities [Member] | Fair Value, Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 31,929 | 31,060 |
Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 39,605 | 37,756 |
Mortgage-backed Securities [Member] | Fair Value, Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | ||
Mortgage-backed Securities [Member] | Fair Value, Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $39,605 | $37,756 |
Fair_Value_Measurements_Change
Fair Value Measurements (Changes In Fair Value For Mortgage Servicing Rights) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Fair Value Measurements [Abstract] | ||
Mortgage servicing rights - Beginning Balance | $518 | $509 |
Gains (losses) included in earnings | -45 | -38 |
Additions from loan sales | 24 | |
Mortgage servicing rights - Ending Balance | $497 | $471 |
Fair_Value_Measurements_Quanti
Fair Value Measurements (Quantitative Information About Significant Unobservable Inputs Used In The Fair Value Measurement Of MSRs) (Details) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Fair Value Measurements [Abstract] | ||
Servicing fees | 0.25% | 0.25% |
Discount rate | 9.52% | 9.52% |
Prepayment rate (CPR) | 9.80% | 9.28% |
Fair_Value_Measurements_Financ1
Fair Value Measurements (Financial Instruments Measured At Fair Value On Nonrecurring Basis) (Details) (Fair Value, Measurements, Nonrecurring Basis [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $14,569 | $13,716 |
Fair Value, Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | ||
Fair Value, Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | ||
Fair Value, Significant unobservable inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | $14,569 | $13,716 |
Fair_Value_Measurements_Estima
Fair Value Measurements (Estimated Fair Value Of The Company's Financial Instruments) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Level 2, Financial assets: | ||
Available-for-sale Securities | $98,393 | $95,533 |
Level 3, Financial assets: | ||
Held-to-maturity Securities, Fair Value | 1,576 | 1,574 |
Loans and leases, net | 688,961 | 683,131 |
Mortgage servicing rights | 497 | 518 |
Level 1, Financial Liabilities: | ||
Demand deposits | 169,965 | 158,631 |
NOW deposits | 82,956 | 72,670 |
Regular savings deposits | 416,317 | 363,542 |
Securities sold under agreement to repurchase | 10,673 | 13,778 |
Level 3, Financial Liabilities: | ||
Time deposits | 111,120 | 112,792 |
Fair Value, Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Level 3, Financial assets: | ||
Mortgage servicing rights | ||
Fair Value, Significant unobservable inputs (Level 3) [Member] | ||
Level 3, Financial assets: | ||
Mortgage servicing rights | 497 | 518 |
Carrying Amount [Member] | Fair Value, Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Level 1, Financial assets: | ||
Cash and cash equivalents | 60,694 | 10,898 |
Level 1, Financial Liabilities: | ||
Demand deposits | 169,965 | 158,631 |
NOW deposits | 82,956 | 72,670 |
Regular savings deposits | 416,317 | 363,542 |
Commitments to extend credit | 93 | 245 |
Securities sold under agreement to repurchase | 10,673 | 13,778 |
Carrying Amount [Member] | Fair Value, Significant Other Observable Inputs (Level 2) [Member] | ||
Level 2, Financial assets: | ||
Available-for-sale Securities | 98,393 | 95,533 |
FHLB and FRB stock | 2,308 | 2,925 |
Level 2, Financial Liabilities: | ||
Other borrowed funds | 13,700 | |
Junior subordinated debentures | 11,330 | 11,330 |
Carrying Amount [Member] | Fair Value, Significant unobservable inputs (Level 3) [Member] | ||
Level 3, Financial assets: | ||
Held-to-maturity Securities, Fair Value | 1,588 | 1,599 |
Loans and leases, net | 688,961 | 683,131 |
Mortgage servicing rights | 497 | 518 |
Level 3, Financial Liabilities: | ||
Time deposits | 111,120 | 112,792 |
Fair Value [Member] | Fair Value, Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Level 1, Financial assets: | ||
Cash and cash equivalents | 60,694 | 10,898 |
Level 1, Financial Liabilities: | ||
Demand deposits | 169,965 | 158,631 |
NOW deposits | 82,956 | 72,670 |
Regular savings deposits | 416,317 | 363,542 |
Commitments to extend credit | 93 | 245 |
Securities sold under agreement to repurchase | 10,673 | 13,778 |
Fair Value [Member] | Fair Value, Significant Other Observable Inputs (Level 2) [Member] | ||
Level 2, Financial assets: | ||
Available-for-sale Securities | 98,393 | 95,533 |
FHLB and FRB stock | 2,308 | 2,925 |
Level 2, Financial Liabilities: | ||
Other borrowed funds | 13,700 | |
Junior subordinated debentures | 11,330 | 11,330 |
Fair Value [Member] | Fair Value, Significant unobservable inputs (Level 3) [Member] | ||
Level 3, Financial assets: | ||
Held-to-maturity Securities, Fair Value | 1,576 | 1,574 |
Loans and leases, net | 700,338 | 685,148 |
Mortgage servicing rights | 497 | 518 |
Level 3, Financial Liabilities: | ||
Time deposits | $110,678 | $113,854 |
Loans_And_The_Allowance_For_Lo2
Loans And The Allowance For Loan Losses (Narrative) (Details) (USD $) | 3 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and leases, restructured and deemed to be a TDR | $6,788,000 | $6,586,000 | |
Troubled restructured loans and leases, Nonaccruing | 2,166,000 | 1,948,000 | |
Period of timely payments before reversion to accruing status, months | 6 months | ||
Residential Real Estate Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Unpaid principal balance | 72,200,000 | 71,600,000 | |
Mortgages sold to FNMA | 2,600,000 | 0 | |
Mortgage servicing rights | 500,000 | 500,000 | |
Mortgage loans held-for-sale | 2,800,000 | 400,000 | |
Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Mortgage loans held-for-sale | $0 | $0 |
Loans_And_The_Allowance_For_Lo3
Loans And The Allowance For Loan Losses (Major Categories Of Loans And Leases) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total real estate loans | $566,855 | $563,281 | |
Commercial and industrial loans | 132,416 | 129,456 | |
Consumer loans | 1,704 | 1,764 | |
Other | 122 | 404 | |
Net deferred loan origination costs | 641 | 759 | 651 |
Total gross loans | 701,738 | 695,664 | |
Allowance for loan losses | -12,777 | -12,533 | |
Loans, net | 688,961 | 683,131 | |
Residential Real Estate Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total real estate loans | 100,548 | 98,374 | |
Commercial And Multi-Family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total real estate loans | 366,657 | 363,252 | |
Construction-Residential [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total real estate loans | 238 | 721 | |
Construction-Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total real estate loans | 39,723 | 40,986 | |
Home Equity Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total real estate loans | $59,689 | $59,948 |
Loans_And_The_Allowance_For_Lo4
Loans And The Allowance For Loan Losses (Data, At The Class Level, Of Credit Quality Indicators Of Certain Loans And Leases) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | $701,097 | $694,905 |
Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 39,723 | 40,986 |
Commercial Real Estate: Construction [Member] | Corporate Credit ExposurebBy Credit Rating 3 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 33,644 | 29,421 |
Commercial Real Estate: Construction [Member] | Corporate Credit ExposurebBy Credit Rating 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,235 | 10,492 |
Commercial Real Estate: Construction [Member] | Corporate Credit ExposurebBy Credit Rating 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 4,844 | 1,073 |
Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 366,657 | 363,252 |
Commercial Real Estate Mortgages [Member] | Corporate Credit ExposurebBy Credit Rating 3 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 308,059 | 299,798 |
Commercial Real Estate Mortgages [Member] | Corporate Credit ExposurebBy Credit Rating 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 42,901 | 50,691 |
Commercial Real Estate Mortgages [Member] | Corporate Credit ExposurebBy Credit Rating 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 9,974 | 7,853 |
Commercial Real Estate Mortgages [Member] | Corporate Credit ExposurebBy Credit Rating 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 5,723 | 4,757 |
Commercial Real Estate Mortgages [Member] | Corporate Credit ExposurebBy Credit Rating 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 153 | |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 406,380 | 404,238 |
Commercial Loans [Member] | Corporate Credit ExposurebBy Credit Rating 3 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 341,703 | 329,219 |
Commercial Loans [Member] | Corporate Credit ExposurebBy Credit Rating 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 44,136 | 61,183 |
Commercial Loans [Member] | Corporate Credit ExposurebBy Credit Rating 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 14,818 | 8,926 |
Commercial Loans [Member] | Corporate Credit ExposurebBy Credit Rating 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 5,723 | 4,757 |
Commercial Loans [Member] | Corporate Credit ExposurebBy Credit Rating 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 153 | |
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 132,416 | 129,456 |
Commercial And Industrial [Member] | Corporate Credit ExposurebBy Credit Rating 3 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 86,254 | 83,789 |
Commercial And Industrial [Member] | Corporate Credit ExposurebBy Credit Rating 4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 29,712 | 30,223 |
Commercial And Industrial [Member] | Corporate Credit ExposurebBy Credit Rating 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 8,652 | 8,662 |
Commercial And Industrial [Member] | Corporate Credit ExposurebBy Credit Rating 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 7,687 | 6,613 |
Commercial And Industrial [Member] | Corporate Credit ExposurebBy Credit Rating 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | $111 | $169 |
Loans_And_The_Allowance_For_Lo5
Loans And The Allowance For Loan Losses (Recorded Investment In Loans And Leases Past Due) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 days | $9,705 | $5,817 | |
60-89 days | 585 | 3,454 | |
90+ days | 1,592 | 1,862 | |
Total Past Due | 11,882 | 11,133 | |
Current Balance | 689,215 | 683,772 | |
Total gross loans | 701,097 | 694,905 | |
90+ Days Accruing | 705 | 201 | |
Non-accruing Loans and Leases | 11,099 | 10,390 | |
Net deferred loan origination costs | 641 | 759 | 651 |
Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 days | 663 | 153 | |
60-89 days | 117 | 60 | |
90+ days | 25 | 274 | |
Total Past Due | 805 | 487 | |
Current Balance | 131,611 | 128,969 | |
Total gross loans | 132,416 | 129,456 | |
Non-accruing Loans and Leases | 6,380 | 5,500 | |
Residential Real Estate: Residential [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 days | 345 | 848 | |
60-89 days | 189 | 158 | |
90+ days | 473 | 682 | |
Total Past Due | 1,007 | 1,688 | |
Current Balance | 99,541 | 96,686 | |
Total gross loans | 100,548 | 98,374 | |
Non-accruing Loans and Leases | 1,275 | 1,296 | |
Residential Real Estate: Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current Balance | 238 | 721 | |
Total gross loans | 238 | 721 | |
Non-accruing Loans and Leases | |||
Commercial Real Estate: Commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 days | 1,923 | 4,201 | |
60-89 days | 247 | 3,115 | |
90+ days | 302 | 513 | |
Total Past Due | 2,472 | 7,829 | |
Current Balance | 364,185 | 355,423 | |
Total gross loans | 366,657 | 363,252 | |
90+ Days Accruing | 192 | ||
Non-accruing Loans and Leases | 2,938 | 3,162 | |
Commercial Real Estate: Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 days | 5,848 | 8 | |
90+ days | 513 | 201 | |
Total Past Due | 6,361 | 209 | |
Current Balance | 33,362 | 40,777 | |
Total gross loans | 39,723 | 40,986 | |
90+ Days Accruing | 513 | 201 | |
Non-accruing Loans and Leases | |||
Home Equity Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 days | 911 | 594 | |
60-89 days | 13 | 120 | |
90+ days | 279 | 192 | |
Total Past Due | 1,203 | 906 | |
Current Balance | 58,486 | 59,042 | |
Total gross loans | 59,689 | 59,948 | |
Non-accruing Loans and Leases | 489 | 415 | |
Consumer Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
30-59 days | 15 | 13 | |
60-89 days | 19 | 1 | |
Total Past Due | 34 | 14 | |
Current Balance | 1,670 | 1,750 | |
Total gross loans | 1,704 | 1,764 | |
Non-accruing Loans and Leases | 17 | 17 | |
Other [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current Balance | 122 | 404 | |
Total gross loans | 122 | 404 | |
Non-accruing Loans and Leases |
Loans_And_The_Allowance_For_Lo6
Loans And The Allowance For Loan Losses (Summary Of The Allowance For Loan And Lease Losses By Management Level Segments) (Details) (USD $) | 3 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | ||
Allowance for loan and lease losses: | |||||
Beginning balance | $12,533 | $11,503 | |||
Charge-offs | -6 | -64 | |||
Recoveries | 49 | 142 | |||
Provision for loan losses | 201 | 153 | |||
Ending balance | 12,777 | 11,734 | |||
Individually evaluated for impairment | 1,152 | 1,411 | |||
Collectively evaluated for impairment | 11,625 | 10,323 | |||
Allowance for loan and lease losses, Total | 12,777 | 11,734 | |||
Loans and leases: | |||||
Individually evaluated for impairment | 15,721 | 18,273 | |||
Collectively evaluated for impairment | 685,376 | 641,771 | |||
Loans and leases, Total | 701,097 | 660,044 | |||
Net deferred loan origination costs | 641 | 651 | 759 | ||
Commercial And Industrial [Member] | |||||
Allowance for loan and lease losses: | |||||
Beginning balance | 4,896 | 4,489 | |||
Charge-offs | -57 | ||||
Recoveries | 38 | 28 | |||
Provision for loan losses | 55 | 63 | |||
Ending balance | 4,989 | 4,523 | |||
Individually evaluated for impairment | 978 | 1,182 | |||
Collectively evaluated for impairment | 4,011 | 3,341 | |||
Allowance for loan and lease losses, Total | 4,989 | 4,523 | |||
Loans and leases: | |||||
Individually evaluated for impairment | 6,577 | 4,291 | |||
Collectively evaluated for impairment | 125,839 | 106,653 | |||
Loans and leases, Total | 132,416 | 110,944 | |||
Commercial Real Estate Mortgages [Member] | |||||
Allowance for loan and lease losses: | |||||
Beginning balance | 5,650 | [1] | 4,912 | [1] | |
Recoveries | 10 | [1] | 29 | [1] | |
Provision for loan losses | 170 | [1] | 167 | [1] | |
Ending balance | 5,830 | [1] | 5,108 | [1] | |
Individually evaluated for impairment | 124 | [1] | 210 | [1] | |
Collectively evaluated for impairment | 5,706 | [1] | 4,898 | [1] | |
Allowance for loan and lease losses, Total | 5,830 | [1] | 5,108 | [1] | |
Loans and leases: | |||||
Individually evaluated for impairment | 5,604 | [1] | 11,579 | [1] | |
Collectively evaluated for impairment | 400,776 | [1] | 380,194 | [1] | |
Loans and leases, Total | 406,380 | [1] | 391,773 | [1] | |
Consumer Loans [Member] | |||||
Allowance for loan and lease losses: | |||||
Beginning balance | 78 | [2] | 37 | [2] | |
Charge-offs | -6 | [2] | -6 | [2] | |
Recoveries | 1 | [2] | 2 | [2] | |
Provision for loan losses | -3 | [2] | 3 | [2] | |
Ending balance | 70 | [2] | 36 | [2] | |
Individually evaluated for impairment | 47 | [2] | 19 | [2] | |
Collectively evaluated for impairment | 23 | [2] | 17 | [2] | |
Allowance for loan and lease losses, Total | 70 | [2] | 36 | [2] | |
Loans and leases: | |||||
Individually evaluated for impairment | 47 | [2] | 19 | [2] | |
Collectively evaluated for impairment | 1,779 | [2] | 1,576 | [2] | |
Loans and leases, Total | 1,826 | [2] | 1,595 | [2] | |
Residential Real Estate Mortgages [Member] | |||||
Allowance for loan and lease losses: | |||||
Beginning balance | 941 | [1] | 1,038 | [1] | |
Provision for loan losses | -17 | [1] | -1 | [1] | |
Ending balance | 924 | [1] | 1,037 | [1] | |
Individually evaluated for impairment | 3 | [1] | |||
Collectively evaluated for impairment | 921 | [1] | 1,037 | [1] | |
Allowance for loan and lease losses, Total | 924 | [1] | 1,037 | [1] | |
Loans and leases: | |||||
Individually evaluated for impairment | 2,512 | [1] | 2,100 | [1] | |
Collectively evaluated for impairment | 98,274 | [1] | 96,268 | [1] | |
Loans and leases, Total | 100,786 | [1] | 98,368 | [1] | |
Home Equity Loans [Member] | |||||
Allowance for loan and lease losses: | |||||
Beginning balance | 819 | 878 | |||
Charge-offs | -1 | ||||
Provision for loan losses | -4 | 4 | |||
Ending balance | 815 | 881 | |||
Collectively evaluated for impairment | 815 | 881 | |||
Allowance for loan and lease losses, Total | 815 | 881 | |||
Loans and leases: | |||||
Individually evaluated for impairment | 981 | 284 | |||
Collectively evaluated for impairment | 58,708 | 57,080 | |||
Loans and leases, Total | 59,689 | 57,364 | |||
Direct Financing Leases [Member] | |||||
Allowance for loan and lease losses: | |||||
Recoveries | 83 | ||||
Provision for loan losses | -83 | ||||
Unallocated [Member] | |||||
Allowance for loan and lease losses: | |||||
Beginning balance | 149 | 149 | |||
Charge-offs | |||||
Recoveries | |||||
Provision for loan losses | |||||
Ending balance | 149 | 149 | |||
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | 149 | 149 | |||
Allowance for loan and lease losses, Total | 149 | 149 | |||
Loans and leases: | |||||
Individually evaluated for impairment | |||||
Collectively evaluated for impairment | |||||
Loans and leases, Total | |||||
[1] | Includes construction loans | ||||
[2] | Includes all other consumer loans |
Loans_And_The_Allowance_For_Lo7
Loans And The Allowance For Loan Losses (Impaired Loans And Leases) (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Impaired Financing Receivable, Recorded Investment | ||
Impaired loans, Recorded Investment, With no related allowance recorded | $7,577 | $7,369 |
Impaired loans, Recorded Investment, With a related allowance recorded | 8,144 | 7,660 |
Impaired loans, Recorded Investment, Total | 15,721 | 15,029 |
Impaired Financing Receivable, Unpaid Principal Balance | ||
Impaired loans, Unpaid Principal Balance, With no related allowance recorded | 8,024 | 7,689 |
Impaired loans, Unpaid Principal Balance, With a related allowance recorded | 8,427 | 7,864 |
Impaired loans, Unpaid Principal Balance, Total | 16,451 | 15,553 |
Impaired Financing Receivable Related Allowance | ||
Impaired loans, Related Allowance | 1,152 | 1,313 |
Impaired Financing Receivable, Average Recorded Investment | ||
Impaired loans, Average Recorded Investment, With no related allowance recorded | 7,744 | 7,592 |
Impaired loans, Average Recorded Investment, With a related allowance recorded | 8,272 | 7,729 |
Impaired loans, Average Recorded Investment, Total | 16,016 | 15,321 |
Impaired Financing Receivable, Interest Income Foregone | ||
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 172 | 96 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 116 | 185 |
Impaired Loans, Interest Income Foregone, Total | 288 | 281 |
Impaired Financing Receivable, Interest Income Recognized | ||
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 52 | 291 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 13 | 290 |
Impaired Loans, Interest Income Recognized, Total | 65 | 581 |
Commercial And Industrial [Member] | ||
Impaired Financing Receivable, Recorded Investment | ||
Impaired loans, Recorded Investment, With no related allowance recorded | 1,330 | 1,017 |
Impaired loans, Recorded Investment, With a related allowance recorded | 5,247 | 4,701 |
Impaired loans, Recorded Investment, Total | 6,577 | 5,718 |
Impaired Financing Receivable, Unpaid Principal Balance | ||
Impaired loans, Unpaid Principal Balance, With no related allowance recorded | 1,461 | 1,022 |
Impaired loans, Unpaid Principal Balance, With a related allowance recorded | 5,324 | 4,734 |
Impaired loans, Unpaid Principal Balance, Total | 6,785 | 5,756 |
Impaired Financing Receivable Related Allowance | ||
Impaired loans, Related Allowance | 978 | 988 |
Impaired Financing Receivable, Average Recorded Investment | ||
Impaired loans, Average Recorded Investment, With no related allowance recorded | 1,416 | 1,096 |
Impaired loans, Average Recorded Investment, With a related allowance recorded | 5,283 | 4,701 |
Impaired loans, Average Recorded Investment, Total | 6,699 | 5,797 |
Impaired Financing Receivable, Interest Income Foregone | ||
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 148 | 9 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 75 | 64 |
Impaired Loans, Interest Income Foregone, Total | 223 | 73 |
Impaired Financing Receivable, Interest Income Recognized | ||
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 7 | 66 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 12 | 234 |
Impaired Loans, Interest Income Recognized, Total | 19 | 300 |
Residential Real Estate: Residential [Member] | ||
Impaired Financing Receivable, Recorded Investment | ||
Impaired loans, Recorded Investment, With no related allowance recorded | 2,241 | 2,264 |
Impaired loans, Recorded Investment, With a related allowance recorded | 271 | 271 |
Impaired loans, Recorded Investment, Total | 2,512 | 2,535 |
Impaired Financing Receivable, Unpaid Principal Balance | ||
Impaired loans, Unpaid Principal Balance, With no related allowance recorded | 2,419 | 2,435 |
Impaired loans, Unpaid Principal Balance, With a related allowance recorded | 285 | 285 |
Impaired loans, Unpaid Principal Balance, Total | 2,704 | 2,720 |
Impaired Financing Receivable Related Allowance | ||
Impaired loans, Related Allowance | 3 | 3 |
Impaired Financing Receivable, Average Recorded Investment | ||
Impaired loans, Average Recorded Investment, With no related allowance recorded | 2,253 | 2,271 |
Impaired loans, Average Recorded Investment, With a related allowance recorded | 271 | 271 |
Impaired loans, Average Recorded Investment, Total | 2,524 | 2,542 |
Impaired Financing Receivable, Interest Income Foregone | ||
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 12 | 37 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 5 | 20 |
Impaired Loans, Interest Income Foregone, Total | 17 | 57 |
Impaired Financing Receivable, Interest Income Recognized | ||
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 11 | 68 |
Impaired Loans, Interest Income Recognized, Total | 11 | 68 |
Commercial Real Estate: Commercial [Member] | ||
Impaired Financing Receivable, Recorded Investment | ||
Impaired loans, Recorded Investment, With no related allowance recorded | 1,922 | 2,103 |
Impaired loans, Recorded Investment, With a related allowance recorded | 2,579 | 2,640 |
Impaired loans, Recorded Investment, Total | 4,501 | 4,743 |
Impaired Financing Receivable, Unpaid Principal Balance | ||
Impaired loans, Unpaid Principal Balance, With no related allowance recorded | 2,016 | 2,208 |
Impaired loans, Unpaid Principal Balance, With a related allowance recorded | 2,758 | 2,785 |
Impaired loans, Unpaid Principal Balance, Total | 4,774 | 4,993 |
Impaired Financing Receivable Related Allowance | ||
Impaired loans, Related Allowance | 124 | 274 |
Impaired Financing Receivable, Average Recorded Investment | ||
Impaired loans, Average Recorded Investment, With no related allowance recorded | 1,956 | 2,139 |
Impaired loans, Average Recorded Investment, With a related allowance recorded | 2,670 | 2,708 |
Impaired loans, Average Recorded Investment, Total | 4,626 | 4,847 |
Impaired Financing Receivable, Interest Income Foregone | ||
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 6 | 33 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 35 | 96 |
Impaired Loans, Interest Income Foregone, Total | 41 | 129 |
Impaired Financing Receivable, Interest Income Recognized | ||
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 18 | 91 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 50 | |
Impaired Loans, Interest Income Recognized, Total | 18 | 141 |
Commercial Real Estate: Construction [Member] | ||
Impaired Financing Receivable, Recorded Investment | ||
Impaired loans, Recorded Investment, With no related allowance recorded | 1,103 | 1,074 |
Impaired loans, Recorded Investment, Total | 1,103 | 1,074 |
Impaired Financing Receivable, Unpaid Principal Balance | ||
Impaired loans, Unpaid Principal Balance, With no related allowance recorded | 1,103 | 1,074 |
Impaired loans, Unpaid Principal Balance, Total | 1,103 | 1,074 |
Impaired Financing Receivable, Average Recorded Investment | ||
Impaired loans, Average Recorded Investment, With no related allowance recorded | 1,128 | 1,169 |
Impaired loans, Average Recorded Investment, Total | 1,128 | 1,169 |
Impaired Financing Receivable, Interest Income Recognized | ||
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 12 | 44 |
Impaired Loans, Interest Income Recognized, Total | 12 | 44 |
Home Equity Loans [Member] | ||
Impaired Financing Receivable, Recorded Investment | ||
Impaired loans, Recorded Investment, With no related allowance recorded | 981 | 911 |
Impaired loans, Recorded Investment, Total | 981 | 911 |
Impaired Financing Receivable, Unpaid Principal Balance | ||
Impaired loans, Unpaid Principal Balance, With no related allowance recorded | 1,025 | 950 |
Impaired loans, Unpaid Principal Balance, Total | 1,025 | 950 |
Impaired Financing Receivable, Average Recorded Investment | ||
Impaired loans, Average Recorded Investment, With no related allowance recorded | 991 | 917 |
Impaired loans, Average Recorded Investment, Total | 991 | 917 |
Impaired Financing Receivable, Interest Income Foregone | ||
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 6 | 17 |
Impaired Loans, Interest Income Foregone, Total | 6 | 17 |
Impaired Financing Receivable, Interest Income Recognized | ||
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 4 | 22 |
Impaired Loans, Interest Income Recognized, Total | 4 | 22 |
Consumer Loans [Member] | ||
Impaired Financing Receivable, Recorded Investment | ||
Impaired loans, Recorded Investment, With a related allowance recorded | 47 | 48 |
Impaired loans, Recorded Investment, Total | 47 | 48 |
Impaired Financing Receivable, Unpaid Principal Balance | ||
Impaired loans, Unpaid Principal Balance, With a related allowance recorded | 60 | 60 |
Impaired loans, Unpaid Principal Balance, Total | 60 | 60 |
Impaired Financing Receivable Related Allowance | ||
Impaired loans, Related Allowance | 47 | 48 |
Impaired Financing Receivable, Average Recorded Investment | ||
Impaired loans, Average Recorded Investment, With a related allowance recorded | 48 | 49 |
Impaired loans, Average Recorded Investment, Total | 48 | 49 |
Impaired Financing Receivable, Interest Income Foregone | ||
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 1 | 5 |
Impaired Loans, Interest Income Foregone, Total | 1 | 5 |
Impaired Financing Receivable, Interest Income Recognized | ||
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 1 | 6 |
Impaired Loans, Interest Income Recognized, Total | $1 | $6 |
Loans_And_The_Allowance_For_Lo8
Loans And The Allowance For Loan Losses (Non-Accrual Loans And Leases And Loans And Lease 90 Days Or More Past Due) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accruing loans and leases | $11,099 | $10,390 |
Accruing loans 90+ days past due | 705 | 201 |
Total non-performing loans and leases | 11,804 | 10,591 |
Total non-performing loans and leases to total assets | 1.31% | 1.25% |
Total non-performing loans and leases to total loans and leases | 1.68% | 1.52% |
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accruing loans and leases | 6,380 | 5,500 |
Residential Real Estate: Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accruing loans and leases | 1,275 | 1,296 |
Residential Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accruing loans and leases | ||
Commercial Real Estate: Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accruing loans and leases | 2,938 | 3,162 |
Accruing loans 90+ days past due | 192 | |
Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accruing loans and leases | ||
Accruing loans 90+ days past due | 513 | 201 |
Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accruing loans and leases | 489 | 415 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accruing loans and leases | 17 | 17 |
Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total non-accruing loans and leases |
Loans_And_The_Allowance_For_Lo9
Loans And The Allowance For Loan Losses (Troubled Debt Restructured Loans And Leases) (Details) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Troubled Debt Restructured Loans And Leases [Line Items] | ||
Troubled restructured loans and leases, Total | $6,788 | $6,586 |
Troubled restructured loans and leases, Nonaccruing | 2,166 | 1,948 |
Troubled restructured loans and leases, Accruing | 4,622 | 4,638 |
Troubled restructured loans and leases, Related Allowance | 263 | 237 |
Commercial And Industrial [Member] | ||
Troubled Debt Restructured Loans And Leases [Line Items] | ||
Troubled restructured loans and leases, Total | 874 | 492 |
Troubled restructured loans and leases, Nonaccruing | 677 | 274 |
Troubled restructured loans and leases, Accruing | 197 | 218 |
Troubled restructured loans and leases, Related Allowance | 200 | 173 |
Residential Real Estate: Residential [Member] | ||
Troubled Debt Restructured Loans And Leases [Line Items] | ||
Troubled restructured loans and leases, Total | 1,824 | 1,833 |
Troubled restructured loans and leases, Nonaccruing | 586 | 594 |
Troubled restructured loans and leases, Accruing | 1,238 | 1,239 |
Commercial Real Estate: Commercial [Member] | ||
Troubled Debt Restructured Loans And Leases [Line Items] | ||
Troubled restructured loans and leases, Total | 2,428 | |
Troubled restructured loans and leases, Nonaccruing | 847 | |
Troubled restructured loans and leases, Accruing | 1,581 | |
Troubled restructured loans and leases, Related Allowance | 33 | |
Commercial Real Estate: Construction [Member] | ||
Troubled Debt Restructured Loans And Leases [Line Items] | ||
Troubled restructured loans and leases, Total | 1,103 | 1,074 |
Troubled restructured loans and leases, Accruing | 1,103 | 1,074 |
Home Equity Loans [Member] | ||
Troubled Debt Restructured Loans And Leases [Line Items] | ||
Troubled restructured loans and leases, Total | 719 | 728 |
Troubled restructured loans and leases, Nonaccruing | 228 | 233 |
Troubled restructured loans and leases, Accruing | 491 | 495 |
Consumer Loans [Member] | ||
Troubled Debt Restructured Loans And Leases [Line Items] | ||
Troubled restructured loans and leases, Total | 30 | 31 |
Troubled restructured loans and leases, Accruing | 30 | 31 |
Troubled restructured loans and leases, Related Allowance | 30 | 31 |
Other [Member] | ||
Troubled Debt Restructured Loans And Leases [Line Items] | ||
Troubled restructured loans and leases, Total | ||
Troubled restructured loans and leases, Nonaccruing | ||
Troubled restructured loans and leases, Accruing | ||
Troubled restructured loans and leases, Related Allowance |
Recovered_Sheet1
Loans And The Allowance For Loan Losses (Troubled Debt Restructurings Activity) (Details) (Commercial And Industrial [Member], Deferral Of Principal [Member], USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
contract | |
Commercial And Industrial [Member] | Deferral Of Principal [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Contracts | 3 |
Pre-Modification Outstanding Recorded Investment | $541 |
Post-Modification Outstanding Recorded Investment | $541 |
Recovered_Sheet2
Loans And The Allowance For Loan Losses (Troubled Debt Restructurings That Subsequently Defaulted) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
contract | contract | |
Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | ||
Recorded investment of restructured contracts that subsequently defaulted | ||
Residential Real Estate: Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | ||
Recorded investment of restructured contracts that subsequently defaulted | ||
Residential Real Estate: Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | ||
Recorded investment of restructured contracts that subsequently defaulted | ||
Commercial Real Estate: Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | ||
Recorded investment of restructured contracts that subsequently defaulted | ||
Commercial Real Estate: Construction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | ||
Recorded investment of restructured contracts that subsequently defaulted | ||
Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 1 | |
Recorded investment of restructured contracts that subsequently defaulted | 19 | |
Consumer Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | ||
Recorded investment of restructured contracts that subsequently defaulted | ||
Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | ||
Recorded investment of restructured contracts that subsequently defaulted |
Per_Share_Data_Details
Per Share Data (Details) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Per Share Data [Abstract] | ||
Potentially dilutive shares of common stock included in calculating diluted earnings per share | 78,167 | 83,497 |
Potential anti-dilutive shares | 38,630 | 9,000 |
Other_Comprehensive_Income_Sch
Other Comprehensive Income (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | ($1,508) | ($1,263) |
Net Change | 360 | 382 |
Ending Balance | -1,148 | -881 |
Net Unrealized Gain (Loss) On Investment Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | 911 | 191 |
Net Change | 331 | 361 |
Ending Balance | 1,242 | 552 |
Net Defined Benefit Pension Plans Adjustments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | -2,419 | -1,454 |
Net Change | 29 | 21 |
Ending Balance | ($2,390) | ($1,433) |
Other_Comprehensive_Income_Com
Other Comprehensive Income (Components Of Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Unrealized loss on investment securities, Before-Tax Amount: | ||
Unrealized gain (loss) on investment securities, Before-Tax Amount | $541 | $588 |
Net change, Before-Tax Amount | 541 | 588 |
Defined benefit pension plans adjustments, Before-Tax Amount: | ||
Amortization of prior service cost, Before-Tax Amount | 7 | 8 |
Amortization of actuarial loss, Before-Tax Amount | 48 | 26 |
Net change, Before-Tax Amount | 55 | 34 |
Other Comprehensive Loss, Before-Tax Amount | 596 | 622 |
Unrealized loss on investment securities, Income Tax (Provision) Benefit: | ||
Unrealized gain (loss) on investment securities, Income Tax (Provision) Benefit | -210 | -227 |
Reclassification from accumulated other comprehensive income for gains (losses), Income Tax (Provision) Benefit | 210 | 227 |
Defined benefit pension plans adjustments, Income Tax (Provision) Benefit: | ||
Amortization of prior service cost, Income Tax (Provision) Benefit | -2 | -3 |
Amortization of actuarial loss, Income Tax (Provision) Benefit | -24 | -10 |
Net change, Income Tax (Provision) Benefit | -26 | -13 |
Other Comprehensive Loss, Income Tax (Provision) Benefit | -236 | -240 |
Unrealized loss on investment securities, Net-of-Tax Amount: | ||
Unrealized gain (loss) on investment securities, Net-of-Tax Amount | 331 | 361 |
Reclassification from accumulated other comprehensive income for gains (losses), Net-of-Tax Amount | ||
Net change, Net-of-Tax Amount | 331 | 361 |
Defined benefit pension plans adjustments, Net-of-Tax Amount: | ||
Amortization of prior service cost, Net-of-Tax Amount | 5 | 5 |
Amortization of actuarial loss, Net-of-Tax Amount | 24 | 16 |
Net change, Net-of-Tax Amount | 29 | 21 |
OTHER COMPREHENSIVE INCOME, NET OF TAX | $360 | $382 |
Segment_Information_Business_S
Segment Information (Business Segment Information) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Segment Reporting Information [Line Items] | ||
Net interest income (expense) | $7,581 | $7,298 |
Provision for loan losses | 201 | 153 |
Net interest income (expense) after provision for loan and lease losses | 7,380 | 7,145 |
Non-interest income | 1,237 | 1,263 |
Insurance service and fees | 1,829 | 2,132 |
Amortization expense | 41 | |
Non-interest expense | 7,512 | 7,577 |
Income before income taxes | 2,934 | 2,922 |
Income tax provision | 1,029 | 909 |
Net income | 1,905 | 2,013 |
Banking Activities [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income (expense) | 7,609 | 7,326 |
Provision for loan losses | 201 | 153 |
Net interest income (expense) after provision for loan and lease losses | 7,408 | 7,173 |
Non-interest income | 1,237 | 1,263 |
Insurance service and fees | 162 | 152 |
Non-interest expense | 6,481 | 6,477 |
Income before income taxes | 2,326 | 2,111 |
Income tax provision | 794 | 596 |
Net income | 1,532 | 1,515 |
Insurance Agency Activities [Member] | ||
Segment Reporting Information [Line Items] | ||
Net interest income (expense) | -28 | -28 |
Net interest income (expense) after provision for loan and lease losses | -28 | -28 |
Insurance service and fees | 1,667 | 1,980 |
Amortization expense | 41 | |
Non-interest expense | 1,031 | 1,100 |
Income before income taxes | 608 | 811 |
Income tax provision | 235 | 313 |
Net income | $373 | $498 |
Contingent_Liabilities_And_Com2
Contingent Liabilities And Commitments (Summary Of Commitments And Contingent Liabilities) (Details) (USD $) | Mar. 31, 2015 | Mar. 31, 2014 |
Contingent Liabilities And Commitments [Abstract] | ||
Commitments to extend credit | $234,311,000 | $212,193,000 |
Standby letters of credit | 2,767,000 | 2,430,000 |
Commitments and contingent liabilities | 237,078,000 | 214,623,000 |
Estimated liability related to NYAG investigation | 1,000,000 | |
Estimated probable loss | $1,000,000 |
Net_Periodic_Benefit_Costs_Sch
Net Periodic Benefit Costs (Schedule Of Net Periodic Benefit Costs) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Pension [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest cost | $51 | $51 |
Expected return on plan assets | -77 | -76 |
Amortization of the net loss | 17 | 5 |
Net periodic cost (benefit) | -9 | -20 |
Supplemental Executive Retirement Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost | 48 | 42 |
Interest cost | 37 | 40 |
Amortization of prior service cost | 7 | 8 |
Amortization of the net loss | 31 | 21 |
Net periodic cost (benefit) | $123 | $111 |