Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 01, 2017 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Entity Registrant Name | EVANS BANCORP INC | ||
Entity Filer Category | Accelerated Filer | ||
Entity Central Index Key | 842,518 | ||
Entity Current Reporting Status | Yes | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Amendment Flag | false | ||
Document Type | 10-K | ||
Document Fiscal Period Focus | FY | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 4,749,846 | ||
Entity Public Float | $ 101 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 12,503 | $ 11,813 |
Interest-bearing deposits at banks | 581 | 10,808 |
Securities: | ||
Available for sale, at fair value (amortized cost: $95,810 at December 31, 2016; $96,374 at December 31, 2015) | 95,222 | 97,141 |
Held to maturity, at amortized cost (fair value: $1,959 at December 31, 2016; $1,584 at December 31, 2015) | 1,983 | 1,617 |
Federal Home Loan Bank common stock, at cost | 2,185 | 1,296 |
Federal Reserve Bank common stock, at cost | 1,546 | 1,487 |
Loans, net of allowance for loan losses of $13,916 at December 31, 2016 and $12,883 at December 31, 2015 | 928,596 | 761,101 |
Properties and equipment, net of accumulated depreciation of $17,012 at December 31, 2016 and $15,799 at December 31, 2015 | 11,310 | 11,051 |
Goodwill and intangible assets | 8,406 | 8,101 |
Bank-owned life insurance | 21,534 | 20,978 |
Other assets | 16,843 | 13,714 |
TOTAL ASSETS | 1,100,709 | 939,107 |
Deposits: | ||
Demand | 201,741 | 183,098 |
NOW | 88,632 | 83,674 |
Savings | 508,652 | 439,993 |
Time | 140,949 | 96,217 |
Total deposits | 939,974 | 802,982 |
Securities sold under agreement to repurchase | 10,159 | 10,821 |
Other borrowings | 28,200 | 10,000 |
Other liabilities | 14,298 | 12,718 |
Junior subordinated debentures | 11,330 | 11,330 |
Total liabilities | 1,003,961 | 847,851 |
CONTINGENT LIABILITIES AND COMMITMENTS | ||
STOCKHOLDERS' EQUITY: | ||
Common stock, $.50 par value, 10,000,000 shares authorized; 4,302,504 and 4,260,203 shares issued at December 31, 2016 and December 31, 2015, respectively, and 4,300,634 and 4,257,179 outstanding at December 31, 2016 and December 31, 2015, respectively | 2,153 | 2,132 |
Capital surplus | 44,389 | 43,318 |
Treasury stock, at cost, 1,870 and 3,024 shares at December 31, 2016 and December 31, 2015, respectively | ||
Retained earnings | 52,630 | 47,616 |
Accumulated other comprehensive loss, net of tax | (2,424) | (1,810) |
Total stockholders' equity | 96,748 | 91,256 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 1,100,709 | $ 939,107 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Securities: | ||
Available for sale, amortized cost | $ 95,810 | $ 96,374 |
Held to maturity, fair value | 1,959 | 1,584 |
Loans, allowance for loan losses | 13,916 | 12,883 |
Properties and equipment, accumulated depreciation | $ 17,012 | $ 15,799 |
STOCKHOLDERS' EQUITY: | ||
Common stock, par value | $ 0.50 | $ 0.50 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 4,302,504 | 4,260,203 |
Common stock, shares outstanding | 4,300,634 | 4,257,179 |
Treasury stock, shares | 1,870 | 3,024 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
INTEREST INCOME | |||
Loans | $ 37,330 | $ 32,638 | $ 31,899 |
Interest bearing deposits at banks | 47 | 64 | 33 |
Securities: | |||
Taxable | 1,652 | 1,935 | 1,816 |
Non-taxable | 926 | 991 | 967 |
Total interest income | 39,955 | 35,628 | 34,715 |
INTEREST EXPENSE | |||
Deposits | 4,040 | 3,339 | 3,058 |
Other borrowings | 295 | 158 | 237 |
Junior subordinated debentures | 372 | 327 | 321 |
Total interest expense | 4,707 | 3,824 | 3,616 |
NET INTEREST INCOME | 35,248 | 31,804 | 31,099 |
PROVISION FOR LOAN LOSSES | 1,209 | 1,216 | 1,229 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 34,039 | 30,588 | 29,870 |
NON-INTEREST INCOME | |||
Bank charges | 1,750 | 1,736 | 1,839 |
Insurance service and fees | 6,519 | 7,194 | 7,131 |
Gain on loans sold | 93 | 133 | 203 |
Bank-owned life insurance | 556 | 563 | 574 |
Loss on tax credit investments | (3,022) | (2,596) | |
Refundable state historic tax credit | 2,117 | ||
Gain on insurance settlement | 734 | ||
Interchange fee income | 1,322 | 1,270 | 1,142 |
Other | 1,917 | 2,090 | 1,980 |
Total non-interest income | 11,252 | 13,720 | 10,273 |
NON-INTEREST EXPENSE | |||
Salaries and employee benefits | 22,221 | 20,478 | 18,844 |
Occupancy | 2,915 | 2,789 | 2,868 |
Repairs and maintenance | 810 | 822 | 732 |
Advertising and public relations | 1,022 | 857 | 867 |
Professional services | 2,216 | 2,354 | 1,819 |
Technology and communications | 1,464 | 1,183 | 1,130 |
Litigation expense | (131) | (175) | 1,000 |
Amortization of intangibles | 108 | ||
FDIC insurance | 752 | 607 | 553 |
Other | 3,827 | 3,783 | 3,331 |
Total non-interest expense | 35,096 | 32,698 | 31,252 |
INCOME BEFORE INCOME TAXES | 10,195 | 11,610 | 8,891 |
INCOME TAX PROVISION | 1,923 | 3,767 | 704 |
NET INCOME | $ 8,272 | $ 7,843 | $ 8,187 |
Net income per common share-basic | $ 1.93 | $ 1.85 | $ 1.96 |
Net income per common share-diluted | 1.90 | 1.82 | 1.92 |
Cash dividends per common share | $ 0.76 | $ 0.72 | $ 0.65 |
Weighted average number of common shares outstanding | 4,281,885 | 4,235,048 | 4,186,786 |
Weighted average number of diluted shares outstanding | 4,358,517 | 4,307,368 | 4,264,406 |
Statements Of Consolidated Comp
Statements Of Consolidated Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Statements Of Consolidated Comprehensive Income [Abstract] | ||||
NET INCOME | $ 8,272 | $ 7,843 | $ 8,187 | |
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX: | ||||
Unrealized gain (loss) on available-for-sale securities | (840) | (436) | 720 | |
Defined benefit pension plans: | ||||
Amortization of prior service cost | [1] | 19 | 19 | 19 |
Amortization of actuarial loss | [1] | 139 | 125 | 64 |
Actuarial gains (losses) | 68 | (10) | (1,048) | |
Net change, Net-of-Tax Amount | 226 | 134 | (965) | |
OTHER COMPREHENSIVE LOSS, NET OF TAX | (614) | (302) | (245) | |
COMPREHENSIVE INCOME | $ 7,658 | $ 7,541 | $ 7,942 | |
[1] | Included in net periodic pension cost as described in Note 11 - "Employee Benefits and Deferred Compensation Plans" |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Stockholders’ Equity - USD ($) $ in Thousands | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2013 | $ 2,106 | $ 42,619 | $ 37,370 | $ (1,263) | $ (120) | $ 80,712 |
Net Income | 8,187 | 8,187 | ||||
Other comprehensive loss | (245) | (245) | ||||
Cash dividends | (2,735) | (2,735) | ||||
Stock options and restricted stock expense | 465 | 465 | ||||
Excess tax benefit from stock-based compensation | 87 | 87 | ||||
Issued restricted shares | 11 | (11) | ||||
Reissued restricted shares, net of forfeitures | (4) | 4 | ||||
Repurchased shares in treasury stock | (1,436) | (1,436) | ||||
Reissued shares under Dividend Reinvestment Plan | 3 | 255 | 258 | |||
Issued shares in Employee Stock Purchase Plan | 6 | 232 | 238 | |||
Reissued shares in stock option exercises | (289) | 546 | 257 | |||
Balance at Dec. 31, 2014 | 2,123 | 43,102 | 42,822 | (1,508) | (751) | 85,788 |
Net Income | 7,843 | 7,843 | ||||
Other comprehensive loss | (302) | (302) | ||||
Cash dividends | (3,049) | (3,049) | ||||
Stock options and restricted stock expense | 495 | 495 | ||||
Excess tax benefit from stock-based compensation | 32 | 32 | ||||
Reissued restricted shares, net of forfeitures | (503) | 503 | ||||
Repurchased shares in treasury stock | (210) | (210) | ||||
Issued shares in stock option exercises | 4 | (4) | ||||
Reissued shares under Dividend Reinvestment Plan | 31 | 246 | 277 | |||
Issued shares in Employee Stock Purchase Plan | 5 | 211 | 216 | |||
Reissued shares in stock option exercises | (46) | 212 | 166 | |||
Balance at Dec. 31, 2015 | 2,132 | 43,318 | 47,616 | (1,810) | 91,256 | |
Net Income | 8,272 | 8,272 | ||||
Other comprehensive loss | (614) | (614) | ||||
Cash dividends | (3,258) | (3,258) | ||||
Stock compensation expense | 553 | 553 | ||||
Excess tax benefit from stock-based compensation | 43 | 43 | ||||
Issued restricted shares | 10 | (10) | ||||
Reissued restricted shares, net of forfeitures | (5) | 5 | ||||
Repurchased shares in treasury stock | (80) | (80) | ||||
Issued shares in stock option exercises | 2 | 88 | 90 | |||
Issued shares under Dividend Reinvestment Plan | 4 | 179 | 183 | |||
Reissued shares under Dividend Reinvestment Plan | 8 | 69 | 77 | |||
Issued shares in Employee Stock Purchase Plan | 5 | 221 | 226 | |||
Reissued shares in stock option exercises | (6) | $ 6 | ||||
Balance at Dec. 31, 2016 | $ 2,153 | $ 44,389 | $ 52,630 | $ (2,424) | $ 96,748 |
Consolidated Statements Of Cha7
Consolidated Statements Of Changes In Stockholders’ Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Consolidated Statements Of Changes In Stockholders’ Equity [Abstract] | |||
Cash dividends per common share | $ 0.76 | $ 0.72 | $ 0.65 |
Repurchased shares in treasury stock | 3,280 | 8,676 | 59,800 |
Issued restricted shares | 19,093 | ||
Reissued restricted shares | 20,942 | 186 | |
Issued shares under Dividend Reinvestment Plan | 7,162 | ||
Issued shares in Employee Stock Purchase Plan | 10,596 | 10,574 | 12,821 |
Issued shares in stock option exercises | 5,450 | 7,832 | |
Reissued shares under Dividend Reinvestment Plan | 2,902 | 11,197 | 11,265 |
Reissued shares in stock option exercises | 267 | 15,235 | 23,331 |
Reissued restricted shares, net of forfeitures | 3,215 | 20,517 | |
Reissued restricted shares, forfeitures | 1,950 | 5,998 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
OPERATING ACTIVITIES: | |||
Interest received | $ 39,570 | $ 35,044 | $ 34,707 |
Fees received | 11,839 | 12,719 | 12,505 |
Interest paid | (4,627) | (3,896) | (3,607) |
Cash paid to employees and vendors | (33,876) | (32,658) | (29,418) |
Cash contributed to pension plan | (140) | (165) | (110) |
Income taxes paid | (1,534) | (2,950) | (2,858) |
Proceeds from sale of loans held for resale | 9,775 | 14,453 | 15,471 |
Originations of loans held for resale | (9,467) | (14,449) | (15,669) |
Net cash provided by operating activities | 11,540 | 8,098 | 11,021 |
INVESTING ACTIVITIES: | |||
Purchases of available for sale securities | (25,953) | (28,961) | (15,379) |
Proceeds from maturities, calls, and payments of available for sale securities | 25,230 | 26,760 | 20,217 |
Purchases of held to maturity securities | (866) | (637) | (618) |
Proceeds from maturities, calls, and payments of held to maturity securities | 500 | 619 | 1,403 |
Proceeds from property insurance | 1,183 | ||
Additions to properties and equipment | (1,452) | (1,888) | (580) |
Purchase of tax credit investment | (2,078) | (1,100) | (1,912) |
Acquisitions | (325) | ||
Net increase in loans | (167,901) | (78,441) | (47,941) |
Net cash used in investing activities | (172,845) | (82,465) | (44,810) |
FINANCING ACTIVITIES: | |||
Proceeds from (repayments of) short-term borrowings, net | 17,538 | (16,657) | 14,128 |
Proceeds from long-term borrowings | 10,000 | ||
Repayment of long-term borrowings | (9,000) | ||
Net increase in deposits | 136,992 | 95,347 | 1,023 |
Dividends paid | (3,258) | (3,049) | (2,735) |
Repurchase of treasury stock | (80) | (210) | (1,436) |
Issuance of common stock | 499 | 216 | 238 |
Reissuance of treasury stock | 77 | 443 | 515 |
Net cash provided by (used in) financing activities | 151,768 | 86,090 | 2,733 |
Net increase (decrease) in cash and equivalents | (9,537) | 11,723 | (31,056) |
CASH AND CASH EQUIVALENTS: | |||
Beginning of period | 22,621 | 10,898 | 41,954 |
End of period | 13,084 | 22,621 | 10,898 |
RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES: | |||
Net income | 8,272 | 7,843 | 8,187 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 1,554 | 1,513 | 1,573 |
Deferred tax (benefit) expense | (71) | 980 | (1,460) |
Provision for loan losses | 1,209 | 1,216 | 1,229 |
Net loss on tax credit investment | 905 | 2,596 | |
Gain on loans sold | (93) | (133) | (203) |
Gain on proceeds from insurance | (734) | ||
Stock options and restricted stock expense | 553 | 495 | 465 |
Proceeds from sale of loans held for resale | 9,775 | 14,453 | 15,471 |
Originations of loans held for resale | (9,467) | (14,449) | (15,669) |
Changes in assets and liabilities affecting cash flow: | |||
Other assets | (2,156) | (2,563) | (2,919) |
Other liabilities | 1,059 | (523) | 1,751 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ 11,540 | $ 8,098 | $ 11,021 |
Organization And Summary Of Sig
Organization And Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Organization And Summary Of Significant Accounting Policies | 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and General Evans Bancorp, Inc. (the “Company”) was organized as a New York business corporation and incorporated under the laws of the State of New York on October 28, 1988 for the purpose of becoming a bank holding company. Through August 2004, the Company was registered with the Federal Reserve Board (“FRB”) as a bank holding company under the Bank Holding Company Act of 1956, as amended. In August 2004, the Company filed for, and was approved as, a Financial Holding Company under the Bank Holding Company Act. The Company currently conducts its business through its two subsidiaries: Evans Bank, N.A. (the “Bank”), a nationally chartered bank, and its subsidiaries, Suchak Data Systems, LLC (“SDS”), Evans National Leasing, Inc. (“ENL”) and Evans National Holding Corp. (“ENHC”); and Evans National Financial Services, LLC (“ENFS”) and its subsidiary, The Evans Agency LLC (“TEA”). Unless the context otherwise requires, the term “Company” refers collectively to Evans Bancorp, Inc. and its subsidiaries. The Company conducts its business through its subsidiaries. It does not engage in any other substantial business. Regulatory Requirements The Company is subject to the rules, regulations, and reporting requirements of various regulatory bodies, including the FRB, the Federal Deposit Insurance Corporation (“FDIC”), the Office of the Comptroller of the Currency (“OCC”), the New York State Department of Financial Services (“the NYSDFS”), and the SEC. Principles of Consolidation The consolidated financial statements include the accounts of the Company, the Bank, ENFS and their subsidiaries. All material inter-company accounts and transactions are eliminated in consolidation. Accounting Estimates Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities and disclosure of contingent assets and liabilities in order to prepare these consolidated financial statements in conformity with U.S. generally accepted accounting principles. The estimates and assumptions that management deems to be critical involve our accounting policies relating to the determination of our allowance for loan losses and the valuation of goodwill. These estimates and assumptions are based on management’s best estimates and judgment and management evaluates them on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. We adjust our estimates and assumptions when facts and circumstances dictate. The current economic recession increases the uncertainty inherent in our estimates and assumptions. As future events cannot be determined with precision, actual results could differ significantly from our estimates. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the consolidated financial statements in periods as they occur. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash and due from banks and interest-bearing deposits at banks. Securities Securities which the Bank has the positive intent and ability to hold to maturity are classified as held to maturity and are stated at cost, adjusted for discounts and premiums that are recognized in interest income over the period to the earlier of the call date or maturity using the level yield method. These securities represent debt issuances of local municipalities in the Bank’s market area for which market prices are not readily available. Management periodically evaluates the financial condition of the municipalities to see if there is any cause for impairment in their bonds. Securities classified as available for sale are stated at fair value with unrealized gains and losses excluded from earnings and reported, net of deferred income taxes, in accumulated other comprehensive income or loss, a component of stockholders’ equity. Gains and losses on sales of securities are computed using the specific identification method. Securities which experience an other-than-temporary decline in fair value are written down to a new cost basis with the amount of the write-down, due to credit problems, included in earnings as a realized loss. The new cost basis is not changed for subsequent recoveries in fair value. Factors which management considers in determining whether an impairment in value of an investment is other than temporary include the period of time the securities were in a loss position, management’s intent and ability to hold securities until fair values recover to amortized cost or if it is considered more likely than not that the Company will have to sell the security, the extent to which fair value is less than amortized cost, the issuer’s financial performance and near term prospects, the financial condition and prospects for the issuer’s geographic region and industry, and recoveries or declines in fair value subsequent to the balance sheet date. There were no charges associated with other-than-temporary impairment declines in fair value of securities in 2016, 2015, or 2014. The Bank does not engage in securities trading activities. Loans Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or pay-off, generally are reported at their outstanding unpaid principal balances adjusted for unamortized deferred fees or costs. Interest income is accrued on the unpaid principal balance and is recognized using the interest method. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield using the effective yield method of accounting for amortizing loans and straight line over an estimated life for lines of credit. Loans become past due when the payment date has been missed. If payment has not been received within 30 days, then the loan is delinquent. Delinquent loans are placed into three categories; 30-59 days past due, 60-89 days past due, or 90+ days past due. Loans 90 or more days past due are considered non-performing. The accrual of interest on loans is discontinued at the time the loan is 90 days delinquent, unless the credit is well secured and in process of collection. If the credit is not well secured and in the process of collection, the loan is placed on non-accrual status and is subject to charge-off if collection of principal or interest is considered doubtful. A loan can also be placed on nonaccrual before it is 90 days delinquent if management determines that it is probable that the Bank will be unable to collect principal or interest due according to the contractual terms of the loan. All interest due but not collected for loans that are placed on non-accrual status or charged off is reversed against interest income. The interest on these loans is accounted for on the cost-recovery method, until it again qualifies for an accrual basis. Any cash receipts on non-accrual loans reduce the carrying value of the loans. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current, the adverse circumstances which resulted in the delinquent payment status are resolved, and payments are made in a timely manner for a period of time sufficient to reasonably assure their future dependability. The Bank considers a loan impaired when, based on current information and events, it is probable that it will be unable to collect principal or interest due according to the contractual terms of the loan. These loans are individually assessed for any impairment. Loan impairment is measured based on the present value of expected cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral, less costs to sell, if the loan is collateral dependent. 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 loan being downgraded on the Company’s 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 nonaccrual loans are either graded a 6 or 7 on the internal loan rating scale. Subsequent to the downgrade, 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. 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 losses: · 1-3-Pass: Risk Rated 1-3 loans are loans with a slight risk of loss. The loan is secured by collateral of sufficient value to cover the loan by an acceptable margin. The financial statements of the company demonstrate sufficient net worth and repayment ability. The company has established an acceptable credit history with the bank and typically has a proven track record of performance. Management is experienced, and has an at least average ability to manage the company. The industry has an average or less than average susceptibility to wide fluctuations in business cycles. · 4-Watch: Although generally acceptable, a higher degree of risk is evident in these watch credits. Obligor assessment factors may have elements which reflect marginally acceptable conditions warranting more careful review and analysis and monitoring. The obligor’s balance sheet reflects generally acceptable asset quality with some elements weak or marginally acceptable. Liquidity may be somewhat strained, but is at an acceptable level to support operations. Obligor may be fully leveraged with ratios higher than industry averages. High leverage is negatively impacting the company, leaving it vulnerable to adverse change. Inconsistent or declining capability to service existing debt requirements evidenced by debt service coverage temporarily below or near acceptable level. The margin of collateral may be adequate, but declining or fluctuating in value. Company management may be unproven, but capable. Rapid expansion or acquisition may increase leverage or reduce cash flow. Negative industry conditions or weaker management could also be characteristic. Proper consideration should be given to companies in a high growth phase or in development business segments that may not have achieved sustainable earnings. Obligors demonstrate sufficient financial flexibility to react to and positively address the root cause of the adverse financial trends without significant deviations from their current business strategy. The rating is also used for borrowers that have made significant progress in resolving their financial weaknesses. · 5-O.A.E.M. (Other Assets Especially Mentioned): Special Mention (“SM”) – A special mention asset has potential weaknesses that warrant management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. SM assets have potential weaknesses that may, if not checked or corrected, weaken the asset or inadequately protect the institution’s position at some future date. These assets pose elevated risk, but their weakness does not yet justify a substandard classification. Borrowers may be experiencing adverse operating trends (declining revenues or margins) or an ill proportioned balance sheet (e.g. increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a special mention rating. Nonfinancial reasons for rating a credit exposure special mention include management problems, pending litigation, an ineffective loan agreement or other material structural weakness, and any other significant deviation from prudent lending practices. The SM rating is designed to identify a specific level of risk and concern about asset quality. Although an SM asset has a higher profitability of default than a pass asset, its default is not imminent. · 6-Substandard: A substandard asset is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Substandard assets have a high probability of payment default, or they have other well-defined weaknesses. They require more intensive supervision by Bank management. Substandard assets are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity, or marginal capitalization. Repayment may depend on collateral or other credit risk subsidies. For some substandard assets, the likelihood of full collection of interest and principal may be in doubt; such assets should be placed on non-accrual. Although substandard assets in the aggregate will have distinct potential for loss, an individual asset’s loss potential does not have to be distinct for the asset to be rated substandard. These loans are periodically reviewed and tested for impairment. · 7-Doubtful: An asset classified doubtful has all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. A doubtful asset has a high probability of total or substantial loss, but because of specific pending events that may strengthen the asset, its classification of loss is deferred. Doubtful borrowers are usually in default, lack adequate liquidity or capital, and lack the resources necessary to remain an operating entity. Pending events can include mergers, acquisitions, liquidations, capital injections, the perfection of liens on additional collateral, the valuation of collateral, and refinancing. Generally, pending events should be resolved within a relatively short period and the ratings will be adjusted based on the new information. Because of high probability of loss, non-accrual accounting treatment is required for doubtful assets. · 8-Loss: Assets classified loss are considered uncollectable and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the assets have absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be affected in the future. With loss assets, the underlying borrowers are often in bankruptcy, have formally suspended debt repayments, or have otherwise ceased normal business operations. Once an asset is classified loss, there is little prospect of collecting either its principal or interest. When access to collateral, rather than the value of the collateral, is a problem, a less severe classification may be appropriate. Losses are to be recorded in the period an obligation becomes uncollectible. 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 since the initial underwriting of the loan and small size of individual loans, the Company does not have credit risk ratings for consumer loans and instead uses delinquency status as the credit quality indicator for consumer loans. However, once a consumer loan is identified as impaired, it is individually evaluated for impairment. Allowance for Loan Losses The provision for loan losses represents the amount charged against the Bank’s earnings to maintain an allowance for loan losses inherent in the portfolio based on management’s evaluation of the loan portfolio at the balance sheet date. Factors considered by the Bank’s management in establishing the allowance include: the collectability of individual loans, current loan concentrations, charge-off history, loss emergence period, delinquent loan percentages, the fair value of the collateral, input from regulatory agencies, and general economic conditions. On a quarterly basis, management of the Bank meets to review and determine the adequacy of the allowance for loan losses. In making this determination, the Bank’s management analyzes the ultimate collectability of the loans in its portfolio by incorporating feedback provided by the Bank’s internal loan staff, an independent internal loan review function and information provided by examinations performed by regulatory agencies. The analysis of the allowance for loan losses is composed of two components: specific credit allocation and general portfolio allocation. The specific credit allocation includes a detailed review of each impaired loan and allocation is made based on this analysis. Factors may include the appraisal value of the collateral, the age of the appraisal, the type of collateral, the performance of the loan to date, the performance of the borrower’s business based on financial statements, and legal judgments involving the borrower. The general portfolio allocation consists of an assigned reserve percentage based on the historical loss experience, the loss emergence period, and other qualitative factors of the loan category. The general portfolio allocation is segmented into homogeneous pools of loans with similar characteristics. Separate pools of loans include loans pooled by loan grade and by portfolio segment. An average historical loss rate over the past five years multiplied by the loss emergence period factor is applied against these loans. For both the criticized and non-criticized loan pools in the general portfolio allocation, additional qualitative factors are applied. The qualitative factors applied to the general portfolio allocation reflect management’s evaluation of various conditions. The conditions evaluated include the following: levels and trends in delinquencies, non-accruals, and criticized loans; trends in volume and terms of loans; effects of any changes in lending policies and credit quality underwriting standards; experience, ability, and depth of management; national and economic trends and conditions; changes in the quality of the loan review system; concentrations of credit risk; changes in collateral value; and large loan risk. The total possible qualitative allocation is determined by comparing peer bank historical charge-off rates to the Bank’s historical charge-off rate. The actual qualitative allocation is determined by qualitative factor by loan type based on metrics that management believes are appropriate indicators of whether the Bank is in a low, moderate, or high risk range relative to historical experience for each qualitative factor. Foreclosed Real Estate Foreclosed real estate is initially recorded at the lower of carrying or fair value (net of costs of disposal) at the date of foreclosure. Costs relating to development and improvement of property are capitalized, whereas costs relating to the holding of property are expensed. Assessments are periodically performed by management, and an allowance for losses is established through a charge to operations if the carrying value of a property exceeds fair value. The Company held no foreclosed real estate at December 31, 2016 or December 31, 2015. Insurance Commissions and Fees Commission revenue is recognized as of the effective date of the insurance policy or the date the customer is billed, whichever is later. The Company also receives contingent commissions from insurance companies which are based on the overall profitability of their relationship based primarily on the loss experience of the insurance placed by the Company. Contingent commissions from insurance companies are recognized when determinable. Goodwill and Other Intangible Assets The Company accounts for goodwill and other intangible assets in accordance with ASC Topic 350, "Intangibles – Goodwill and Other." The Company records the excess of the cost of acquired entities over the fair value of identifiable tangible and intangible assets acquired, less liabilities assumed, as goodwill. The Company amortizes acquired intangible assets with definite useful economic lives over their useful economic lives utilizing the straight-line method. On a periodic basis, management assesses whether events or changes in circumstances indicate that the carrying amounts of the intangible assets may be impaired. The Company does not amortize goodwill and any acquired intangible asset with an indefinite useful economic life, but reviews them for impairment at a reporting unit level on an annual basis, or when events or changes in circumstances indicate that the carrying amounts may be impaired. A reporting unit is defined as any distinct, separately identifiable component of one of our operating segments for which complete, discrete financial information is available and reviewed regularly by the segment’s management. The only reporting unit with goodwill as of December 31, 2016 was the insurance agency activities reporting unit. The fair value of the insurance agency activities reporting unit is measured annually as of December 31st utilizing the average of a discounted cash flow model and a market value based on a multiple to earnings before interest, taxes, depreciation, and amortization (“EBITDA”) for similar companies. The calculated value of the insurance agency reporting unit was in excess of the carrying amount at December 31, 2016. The Company has performed the required goodwill impairment tests and has determined that goodwill was not impaired as of December 31, 2016. Bank-Owned Life Insurance The Bank has purchased insurance on the lives of Company directors and certain members of the Bank's and TEA's management. The policies accumulate asset values to meet future liabilities, including the payment of employee benefits, such as retirement benefits. Increases in the cash surrender value are recorded as other income in the Company’s Consolidated Statements of Income. Properties and Equipment Properties and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range from 3 to 39 years. Impairment losses on properties and equipment are realized if the carrying amount is not recoverable from its undiscounted cash flows and exceeds its fair value in accordance with ASC Topic 360, “Property, Plant, and Equipment.” Income Taxes Deferred tax assets and liabilities are recognized for the future tax effects attributable to differences between the financial statement value of existing assets and liabilities and their respective tax bases and carryforwards. Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the periods in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through income tax expense. The Bank has invested in partnerships that incur expenses related to the rehabilitation of a certified historic structure located in New York State. At the time the historic structure is placed in service, the Bank is eligible for a federal and New York State tax credit. At the same time, the Bank evaluates its investment, which is valued at the present value of the expected cash flows from its partnership interest. If the investment is determined to be impaired, the Bank will record that impairment loss on its income statement in non-interest income. The federal tax credit impact is included in the Company’s estimated effective tax rate calculation and recorded in income tax expense. For New York State, any new credit earned from rehabilitated historic properties placed in service on or after January 1, 2015 not used in the current tax year will be treated as a refund or overpayment of tax to be credited to the next year’s tax. Since the realization of the tax credit does not depend on the Bank’s generation of future taxable income or the Bank’s ongoing tax status or tax position, the refund is not considered an element of income tax accounting (ASC 740). In such cases, the Bank would not record the credit as a reduction of income tax expense; rather, the Bank includes the refundable New York State tax credit in non-interest income with a corresponding receivable recorded in other assets. Earnings Per Share Earnings per common share is determined by dividing net income by the weighted average number of shares outstanding during the period. Diluted earnings per common share is based on increasing the weighted-average number of shares of common stock by the number of shares of common stock that would be issued assuming the exercise of stock options. Such adjustments to weighted-average number of shares of common stock outstanding are made only when such adjustments are expected to dilute earnings per common share. There were 76,632 , 72,320 , and 77,620 potentially dilutive shares of common stock included in calculating diluted earnings per share for the years ended December 31, 2016, 2015, and 2014, respectively. Potential common shares that would have the effect of increasing diluted earnings per share are considered to be anti-dilutive. In accordance with ASC Topic 260, "Earnings Per Share," these shares were not included in calculating diluted earnings per share. There were no anti-dilutive shares as of December 31, 2016. As of December 31, 2015 and 2014, there were 36 thousand and 9 thousand shares, respectively, that are not included in calculating diluted earnings per share because their effect was anti-dilutive. Treasury Stock Repurchases of shares of Evans Bancorp, Inc. stock are recorded at cost as a reduction of shareholders’ equity. Reissuances of shares of treasury stock are recorded at market value. Comprehensive Income Comprehensive income includes both net income and other comprehensive income, including the change in unrealized gains and losses on securities available for sale, and the change in the liability related to pension costs, net of tax. Employee Benefits The Bank maintains a non-contributory, qualified, defined benefit pension plan (the “Pension Plan”) that covered substantially all employees before it was frozen on January 31, 2008. All benefits eligible participants had accrued in the Pension Plan until the freeze date have been retained. Employees have not accrued additional benefits in the Pension Plan from that date. The actuarially determined pension benefit in the form of a life annuity is based on the employee’s combined years of service, age and compensation. The Bank’s policy is to fund the minimum amount required by government regulations. Employees are eligible to receive these benefits at normal retirement age. The Bank maintains a defined contribution 401(k) plan and accrues contributions due under this plan as earned by employees. In addition, the Bank maintains a non-qualified Supplemental Executive Retirement Plan for certain members of senior management, a non-qualified Deferred Compensation Plan for directors and certain members of management, and a non-qualified Executive Incentive Retirement Plan for certain members of management, as described more fully in Note 11 to these Consolidated Financial Statements, “Employee Benefits and Deferred Compensation Plans.” Stock-based Compensation Stock-based compensation expense is recognized over the vesting period of the stock-based grant based on the estimated grant date value of the stock-based compensation that is expected to vest. Information on the determination of the estimated value of stock-based awards used to calculate stock-based compensation expense is included in Note 12 to these Consolidated Financial Statements, “Stock-Based Compensation.” Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Financial Instruments with Off-Balance Sheet Risk In the ordinary course of business, the Bank has entered into off-balance sheet financial arrangements consisting of commitments to extend credit and standby letters of credit. The Bank provides guarantees in the form of standby letters of credit, which represent an irrevocable obligation to make payments to a third party if the borrower defaults on its obligation under a borrowing or other contractual arrangement with the third party. The Bank could potentially be required to make payments to the extent of the amount guaranteed by the standby letters of credit based on the terms of the agreement. The maximum potential amount of future payments under standby letters of credit was $3.7 million and $3.8 million as of December 31, 2016 and 2015, respectively. There were no liabilities recorded on the Consolidated Balance Sheets related to standby letters of credit as of December 31, 2016 and 2015, respectively, reflecting management’s assessment of the value of the guarantee given the lack of historical activity and the likelihood of current customers to draw on the letters of credit. The Bank has not incurred any losses on its commitments during the past three years and has not recorded a reserve for its commitments. Advertising costs Advertising costs are expensed as incurred. |
Securities
Securities | 12 Months Ended |
Dec. 31, 2016 | |
Securities [Abstract] | |
Securities | 2. SECURITIES The amortized cost of securities and their approximate fair value at December 31 were as follows: 2016 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 12,958 $ 67 $ (153) $ 12,872 States and political subdivisions 34,952 356 (166) 35,142 Total debt securities $ 47,910 $ 423 $ (319) $ 48,014 Mortgage-backed securities: FNMA $ 14,694 $ 96 $ (230) $ 14,560 FHLMC 3,544 32 (51) 3,525 GNMA 2,535 19 (21) 2,533 CMO 27,127 67 (604) 26,590 Total mortgage-backed securities $ 47,900 $ 214 $ (906) $ 47,208 Total securities designated as available for sale $ 95,810 $ 637 $ (1,225) $ 95,222 Held to Maturity: Debt securities States and political subdivisions $ 1,983 $ 5 $ (29) $ 1,959 Total securities designated as held to maturity $ 1,983 $ 5 $ (29) $ 1,959 2015 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 21,914 $ 166 $ (234) $ 21,846 States and political subdivisions 36,838 874 (29) 37,683 Total debt securities $ 58,752 $ 1,040 $ (263) $ 59,529 Mortgage-backed securities: FNMA $ 10,314 $ 160 $ (25) $ 10,449 FHLMC 4,629 61 (56) 4,634 GNMA 3,215 48 (27) 3,236 CMO 19,464 66 (237) 19,293 Total mortgage-backed securities $ 37,622 $ 335 $ (345) $ 37,612 Total securities designated as available for sale $ 96,374 $ 1,375 $ (608) $ 97,141 Held to Maturity: Debt securities States and political subdivisions $ 1,617 $ 6 $ (39) $ 1,584 Total securities designated as held to maturity $ 1,617 $ 6 $ (39) $ 1,584 Available for sale securities with a total fair value of $87 million and $86 million were pledged as collateral to secure public deposits and for other purposes required or permitted by law at December 31, 2016 and 2015, respectively. The scheduled maturity of debt and mortgage-backed securities at December 31, 2016 and 2015 is 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. 2016 2015 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 $ 2,869 $ 2,876 $ 4,082 $ 4,142 Due after one year through five years 30,171 30,214 29,113 29,448 Due after five years through ten years 12,166 12,133 19,356 19,615 Due after ten years 2,704 2,791 6,201 6,324 47,910 48,014 58,752 59,529 Mortgage-backed securities available for sale 47,900 47,208 37,622 37,612 Total available for sale securities $ 95,810 $ 95,222 $ 96,374 $ 97,141 Debt securities held to maturity: Due in one year or less $ 780 $ 778 $ 309 $ 308 Due after one year through five years 289 283 374 365 Due after five years through ten years 814 805 828 815 Due after ten years 100 93 106 96 1,983 1,959 1,617 1,584 Total held to maturity securities $ 1,983 $ 1,959 $ 1,617 $ 1,584 Contractual maturities of the Company’s mortgage-backed securities generally exceed ten years; however, the effective lives may be significantly shorter due to prepayments of the underlying loans and due to the nature of these securities. There were no realized gains and losses from gross sales of securities in 2016, 2015 or 2014. Information regarding unrealized losses within the Company’s available for sale securities at December 31, 2016 and 2015 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. 2016 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 $ 6,847 $ (153) $ - $ - $ 6,847 $ (153) States and political subdivisions 16,895 (146) 731 (20) 17,626 (166) Total debt securities $ 23,742 $ (299) $ 731 $ (20) $ 24,473 $ (319) Mortgage-backed securities: FNMA $ 9,577 $ (230) $ - $ - $ 9,577 $ (230) FHLMC 1,728 (8) 988 (43) 2,716 (51) GNMA 1,046 (17) 309 (4) 1,355 (21) CMO 19,745 (569) 1,166 (35) 20,911 (604) Total mortgage-backed securities $ 32,096 $ (824) $ 2,463 $ (82) $ 34,559 $ (906) Held to Maturity: Debt securities: States and political subdivisions $ 863 $ (3) $ 706 $ (26) $ 1,569 $ (29) Total temporarily impaired securities $ 56,701 $ (1,126) $ 3,900 $ (128) $ 60,601 $ (1,254) 2015 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 $ 4,531 $ (89) $ 5,855 $ (145) $ 10,386 $ (234) States and political subdivisions 3,133 (6) 1,117 (23) 4,250 (29) Total debt securities $ 7,664 $ (95) $ 6,972 $ (168) $ 14,636 $ (263) Mortgage-backed securities: FNMA $ 3,856 $ (25) $ - $ - $ 3,856 $ (25) FHLMC - - 1,234 (56) 1,234 (56) GNMA 1,161 (21) 471 (6) 1,632 (27) CMO 8,996 (123) 3,661 (114) 12,657 (237) Total mortgage-backed securities $ 14,013 $ (169) $ 5,366 $ (176) $ 19,379 $ (345) Held to Maturity: Debt securities: States and political subdivisions $ 626 $ (11) $ 495 $ (28) $ 1,121 $ (39) Total temporarily impaired securities $ 22,303 $ (275) $ 12,833 $ (372) $ 35,136 $ (647) Management has assessed the securities available for sale in an unrealized loss position at December 31, 2016 and 2015 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 holds no securities backed by sub-prime or Alt-A residential mortgages or commercial mortgages and also does not hold any trust-preferred securities. The Company did not record any other-than-temporary impairment charges in 2016, 2015, or 2014. The credit worthiness of the Company’s portfolio is largely reliant on the ability of U.S. government agencies such as the Federal Home Loan Bank (“FHLB”), Federal National Mortgage Association (“FNMA”), and the 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 stable past performance is not a guarantee for similar performance going forward. |
Loans And The Allowance For Loa
Loans And The Allowance For Loan Losses | 12 Months Ended |
Dec. 31, 2016 | |
Loans And The Allowance For Loan Losses [Abstract] | |
Loans And The Allowance For Loan Losses | 3. LOANS AND THE ALLOWANCE FOR LOAN LOSSES Major categories of loans at December 31, 2016 and 2015 are summarized as follows: December 31, 2016 December 31, 2015 Mortgage loans on real estate: (in thousands) Residential mortgages $ 118,542 $ 103,941 Commercial and multi-family 462,385 399,819 Construction-Residential 2,540 1,546 Construction-Commercial 93,240 60,892 Home equities 66,234 61,042 Total real estate loans 742,941 627,240 Commercial and industrial loans 197,371 144,330 Consumer and other loans 1,417 1,735 Net deferred loan origination costs 783 679 Total gross loans 942,512 773,984 Allowance for loan losses (13,916) (12,883) Loans, net $ 928,596 $ 761,101 Residential Mortgages : The Company originates adjustable-rate and fixed-rate, one-to-four-family residential real estate loans for the construction, purchase, or refinancing of a mortgage. These loans are collateralized by owner-occupied properties located in the Company’s market area and are amortized over a period of 10 to 30 years. Loans on one-to-four-family residential real estate are mostly originated in amounts of no more than 80% of the property’s appraised value or have private mortgage insurance. Mortgage title insurance and hazard insurance are normally required. Construction loans have a unique risk, because they are secured by an incomplete dwelling. The Bank, in its normal course of business, sells certain residential mortgages which it originates to FNMA. The Company maintains servicing rights on the loans that it sells to FNMA and earns a fee thereon. The Bank determines with each origination of residential real estate loans which desired maturities, within the context of overall maturities in the loan portfolio, provide the appropriate mix to optimize the Bank’s ability to absorb the corresponding interest rate risk within the Company’s tolerance ranges. This practice allows the Company to manage interest rate risk, liquidity risk, and credit risk. At December 31, 2016 and 2015, the Company had approximately $75.7 million and $77.3 million, respectively, in unpaid principal balances of loans that it services for FNMA. For the years ended December 31, 2016 and 2015, the Company sold $9.7 million and $14.3 million, respectively, in loans to FNMA and realized gains on those sales of $93 thousand and $133 thousand, respectively. Gains or losses recognized upon the sale of loans are determined on a specific identification basis. The Company had a related asset of approximately $0.5 and $0.6 million for the servicing portfolio rights as of December 31, 2016 and 2015, respectively. There were $0.3 million in loans held for sale at December 31, 2016 compared with $0.5 million in loans held for sale at December 31, 2015. Loans held for sale are typically in the portfolio for less than a month. As a result, the carrying value approximates fair value. The Company has never been contacted by FNMA to repurchase any loans due to improper documentation or fraud. Due to the lack of foreclosure activity and absence of any ongoing litigation at December 31, 2016 and 2015, the Company had no accrual for loss contingencies or potential costs associated with foreclosure-related activities at those dates. Commercial and Multi-Family Mortgages and Commercial Construction Loans : Commercial real estate loans are made to finance the purchases of real estate with completed structures or in the midst of being constructed. These commercial real estate loans are secured by first liens on the real estate, which may include apartments, hotels, retail stores or plazas, healthcare facilities, and other non-owner-occupied facilities. These loans are generally less risky than commercial and industrial loans, since they are secured by real estate and buildings. The Company offers commercial mortgage loans with up to an 80% LTV ratio for up to 20 years on a variable and fixed rate basis. Many of these mortgage loans either mature or are subject to a rate call after three to five years. The Company’s underwriting analysis includes credit verification, independent appraisals, a review of the borrower's financial condition, and the underlying cash flows. Construction loans have a unique risk, because they are secured by an incomplete dwelling. As of December 31, 2016, there were $207 million in residential and commercial mortgage loans pledged to FHLBNY to serve as collateral for borrowings. Home Equities : The Company originates home equity lines of credit and second mortgage loans (loans secured by a second lien position on one-to-four-family residential real estate). These loans carry a higher risk than first mortgage residential loans because they are in a second position with respect to collateral. Risk is reduced through underwriting criteria, which include credit verification, appraisals, a review of the borrower's financial condition, and personal cash flows. A security interest, with title insurance when necessary, is taken in the underlying real estate. Commercial and Industrial Loans: These loans generally include term loans and lines of credit. Such loans are made available to businesses for working capital (including inventory and receivables), business expansion (including acquisition of real estate, expansion, and improvements) and equipment purchases. As a general practice, a collateral lien is placed on equipment or other assets owned by the borrower. These loans generally carry a higher risk than commercial real estate loans based on the nature of the underlying collateral, which can be business assets such as equipment and accounts receivable. To reduce the risk, management also attempts to secure real estate as collateral and obtain personal guarantees of the borrowers. To further reduce risk and enhance liquidity, these loans generally carry variable rates of interest, re-pricing in three - to five -year periods, and have a maturity of five years or less. Lines of credit generally carry floating rates of interest (e.g. prime plus a margin). Consumer Loans : The Company funds a variety of consumer loans, including direct automobile loans, recreational vehicle loans, boat loans, home improvement loans, and personal loans (collateralized and uncollateralized). Most of these loans carry a fixed rate of interest with principal repayment terms typically ranging up to five years, based upon the nature of the collateral and the size of the loan. The majority of consumer loans are underwritten on a secured basis using the underlying collateral being financed. A minimal amount of loans are unsecured, which carry a higher risk of loss. These loans included overdrawn deposit accounts classified as loans of less than $0.1 million and $0.2 million at December 31, 2016 and 2015, respectively. The Company maintains an allowance for loan losses in order to capture the probable losses inherent in its loan portfolio. There is a risk that the Company may experience significant loan losses in 2017 and beyond which could exceed the allowance for loan losses. If the Company's assumptions and judgments prove to be incorrect or bank regulators require the Company to increase its provision for loan losses or recognize further loan charge-offs, the Company may have to increase its allowance for loan losses or loan charge-offs which could have a material adverse effect on the Company's operating results and financial condition. There can be no assurance that the Company's allowance for loan losses will be adequate to protect the Company against loan losses that it may incur. Changes in the allowance for loan losses for the years ended December 31, 2016, 2015 and 2014 follow: 2016 2015 2014 (in thousands) Balance, beginning of year $ 12,883 $ 12,533 $ 11,503 Provisions for loan losses 1,209 1,216 1,229 Recoveries 231 181 863 Loans charged-off (407) (1,047) (1,062) Balance, end of year $ 13,916 $ 12,883 $ 12,533 The following tables summarize the allowance for loan losses, as of December 31, 2016 and 2015, respectively, by portfolio segment. The segments presented are at the level management uses to assess and monitor the risk and performance of the portfolio. 2016 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer** Residential Mortgages* Home Equities Unallocated Total Allowance for loan losses: Beginning balance $ 4,383 $ 7,135 $ 85 $ 909 $ 371 $ - $ 12,883 Charge-offs (360) - (47) - - - (407) Recoveries 151 59 16 2 3 - 231 Provision (Credit) 639 696 42 (142) (26) - 1,209 Ending balance $ 4,813 $ 7,890 $ 96 $ 769 $ 348 $ - $ 13,916 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 492 $ 1,471 $ 43 $ 1 $ 20 $ - $ 2,027 Collectively evaluated for impairment 4,321 6,419 53 768 328 - 11,889 Total $ 4,813 $ 7,890 $ 96 $ 769 $ 348 $ - $ 13,916 Loans: Ending balance: Individually evaluated for impairment $ 3,148 $ 7,613 $ 43 $ 2,584 $ 1,753 $ - $ 15,141 Collectively evaluated for impairment 194,223 548,012 1,374 118,498 64,481 - 926,588 Total $ 197,371 $ 555,625 $ 1,417 $ 121,082 $ 66,234 $ - $ 941,729 N ote : Loan balances do not include $783 thousand in net deferred loan origination costs as of December 31, 2016. * includes construction loans ** includes other loans 2015 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer** Residential Mortgages* Home Equities Unallocated Total Allowance for loan losses: Beginning balance $ 4,896 $ 5,650 $ 78 $ 941 $ 819 $ 149 $ 12,533 Charge-offs (799) (139) (43) (66) - - (1,047) Recoveries 126 44 9 2 - - 181 Provision (Credit) 160 1,580 41 32 (448) (149) 1,216 Ending balance $ 4,383 $ 7,135 $ 85 $ 909 $ 371 $ - $ 12,883 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 552 $ 1,146 $ 42 $ 2 $ - $ - $ 1,742 Collectively evaluated for impairment 3,831 5,989 43 907 371 - 11,141 Total $ 4,383 $ 7,135 $ 85 $ 909 $ 371 $ - $ 12,883 Loans: Ending balance: Individually evaluated for impairment $ 5,322 $ 9,993 $ 42 $ 2,499 $ 1,644 $ - $ 19,500 Collectively evaluated for impairment 139,008 450,718 1,693 102,988 59,398 - 753,805 Total $ 144,330 $ 460,711 $ 1,735 $ 105,487 $ 61,042 $ - $ 773,305 Note : Loan balances do not include $679 thousand in net deferred loan origination costs as of December 31, 2015. * includes construction loans ** includes other loans A description of the Company’s accounting policies and the methodology used to estimate the allowance for loan losses, including a description of the factors considered in determining the allowance for loan losses, such as historical losses and existing economic conditions, is included in Note 1 to the Financial Statements. The following table provides data, at the class level, of credit quality indicators of certain loans, as of December 31, 2016 and 2015, respectively: 2016 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial 1-3 $ 82,520 $ 372,235 $ 454,755 $ 121,414 4 6,541 73,655 80,196 59,117 5 - 12,506 12,506 12,623 6 4,179 3,989 8,168 3,404 7 - - - 813 Total $ 93,240 $ 462,385 $ 555,625 $ 197,371 2015 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial 1-3 $ 42,383 $ 340,837 $ 383,220 $ 80,379 4 13,098 40,019 53,117 47,509 5 1,224 11,772 12,996 8,973 6 4,187 7,191 11,378 7,350 7 - - - 119 Total $ 60,892 $ 399,819 $ 460,711 $ 144,330 The Company’s risk ratings are monitored by the individual relationship managers and changed as deemed appropriate after receiving updated financial information from the borrowers or deterioration or improvement in the performance of a loan is evident in the customer’s payment history. Each commercial relationship is individually assigned a risk rating. The Company also maintains a loan review process that monitors the management of the Company’s commercial loan portfolio by the relationship managers. The Company’s loan review function reviews at least 40% of the commercial loan portfolio annually. The Company’s consumer loans, including residential mortgages and home equity loans and lines of credit, are not individually risk rated or reviewed as part of the Company’s loan review process. Unlike commercial customers, consumer loan customers are not required to provide the Company with updated financial information. Consumer loans also carry smaller dollar balances. Given the lack of updated information since the initial underwriting of the loan and the small size of individual loans, the Company uses delinquency status as the primary credit quality indicator for consumer loans. Once a consumer loan reaches 60 days past due, management orders an independent appraisal of the underlying collateral and produces a credit report on the borrower. After discounting for potential selling costs and other factors specific to the property or borrower, the book value of the loan is then compared to the collateral value as determined by the appraisal. In situations where the Company holds a junior lien, management accounts for the amount of the senior liens held by other lenders, and the collateral value is more heavily discounted to account for the increased risk. If the loan is ultimately determined to be impaired, it is placed in non-accrual status. Unless the loan is well secured and in the process of collection, all consumer loans that are more than 90 days past due are placed in non-accrual status. The following tables provide an analysis of the age of the recorded investment for loans that were past due as of December 31, 2016 and 2015, respectively: 2016 (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 $ 6,772 $ 2,966 $ 1,150 $ 10,888 $ 186,483 $ 197,371 $ - $ 3,106 Residential real estate: Residential 868 123 567 1,558 116,984 118,542 - 862 Construction - - - - 2,540 2,540 - - Commercial real estate: Commercial 6,319 1,522 2,357 10,198 452,187 462,385 483 1,874 Construction 257 - 4,417 4,674 88,566 93,240 239 4,178 Home equities 481 119 679 1,279 64,955 66,234 - 1,261 Consumer and other 15 10 5 30 1,387 1,417 - 17 Total Loans $ 14,712 $ 4,740 $ 9,175 $ 28,627 $ 913,102 $ 941,729 $ 722 $ 11,298 2015 (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 $ 160 $ 224 $ 66 $ 450 $ 143,880 $ 144,330 $ 40 $ 5,312 Residential real estate: Residential 822 402 569 1,793 102,148 103,941 - 1,400 Construction - - - - 1,546 1,546 - - Commercial real estate: Commercial 1,919 963 457 3,339 396,480 399,819 457 3,574 Construction - - - - 60,892 60,892 - 4,187 Home equities 253 236 267 756 60,286 61,042 - 1,058 Consumer and other 8 - - 8 1,727 1,735 - 14 Total Loans $ 3,162 $ 1,825 $ 1,359 $ 6,346 $ 766,959 $ 773,305 $ 497 $ 15,545 The following table provides data, at the class level, of impaired loans: At December 31, 2016 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 $ 1,304 $ 1,604 $ - $ 1,455 $ 125 $ 51 Residential real estate: Residential 2,513 2,720 - 2,542 39 78 Construction - - - - - - Commercial real estate: Commercial 2,123 2,168 - 2,181 33 89 Construction 257 257 - 404 2 28 Home equities 1,559 1,621 - 1,606 51 30 Consumer and other - - - - - - Total impaired loans $ 7,756 $ 8,370 $ - $ 8,188 $ 250 $ 276 At December 31, 2016 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 $ 1,844 $ 1,913 $ 492 $ 1,898 $ 62 $ 53 Residential real estate: Residential 71 72 1 72 2 1 Construction - - - - - - Commercial real estate: Commercial 1,054 1,083 296 1,062 50 - Construction 4,179 4,201 1,175 4,180 194 - Home equities 194 206 20 195 9 1 Consumer and other 43 68 43 45 3 3 Total impaired loans $ 7,385 $ 7,543 $ 2,027 $ 7,452 $ 320 $ 58 At December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 3,148 $ 3,517 $ 492 $ 3,353 $ 187 $ 104 Residential real estate: Residential 2,584 2,792 1 2,614 41 79 Construction - - - - - - Commercial real estate: Commercial 3,177 3,251 296 3,243 83 89 Construction 4,436 4,458 1,175 4,584 196 28 Home equities 1,753 1,827 20 1,801 60 31 Consumer and other 43 68 43 45 3 3 Total impaired loans $ 15,141 $ 15,913 $ 2,027 $ 15,640 $ 570 $ 334 At December 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 $ 1,750 $ 1,811 $ - $ 1,945 $ 58 $ 47 Residential real estate: Residential 2,444 2,555 - 2,474 90 63 Construction - - - - - - Commercial real estate: Commercial 3,888 3,908 - 3,930 27 179 Construction 834 834 - 834 - 31 Home equities 1,644 1,711 - 1,661 40 52 Consumer and other - - - - - - Total impaired loans $ 10,560 $ 10,819 $ - $ 10,844 $ 215 $ 372 At December 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 $ 3,572 $ 3,835 $ 552 $ 3,966 $ 255 $ 9 Residential real estate: Residential 55 55 2 55 1 2 Construction - - - - - - Commercial real estate: Commercial 1,083 1,083 235 1,083 4 42 Construction 4,188 4,201 911 4,188 29 166 Home equities - - - - - - Consumer and other 42 57 42 45 2 6 Total impaired loans $ 8,940 $ 9,231 $ 1,742 $ 9,337 $ 291 $ 225 At December 31, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 5,322 $ 5,646 $ 552 $ 5,911 $ 313 $ 56 Residential real estate: Residential 2,499 2,610 2 2,529 91 65 Construction - - - - - - Commercial real estate: Commercial 4,971 4,991 235 5,013 31 221 Construction 5,022 5,035 911 5,022 29 197 Home equities 1,644 1,711 - 1,661 40 52 Consumer and other 42 57 42 45 2 6 Total impaired loans $ 19,500 $ 20,050 $ 1,742 $ 20,181 $ 506 $ 597 There were $7. 8 million in impaired loans with no related allowance at December 31, 2016 and $10. 6 million in impaired loans with no related allowance at December 31, 2015. As management identifies impaired loans that are collateral dependent, new appraisals are ordered to determine the fair value of the collateral. It should also be noted that when estimating the fair value of collateral for the purpose of performing an impairment test, management further reduces the appraised value of the collateral to account for estimated selling or carrying costs, age of the appraisal, if applicable, or any other perceived market or borrower-specific risks to the value of the collateral. The interest income in the preceding table was interest income recognized on accruing TDRs and interest paid prior to loans being identified as non-accrual. The interest income foregone in the preceding table represents interest income that the Company did not recognize on those loans while they were on non-accrual. The Bank had no loan commitments to borrowers in non-accrual status at December 31, 2016 and 2015. Troubled debt restructurings (“TDRs”) The Company had $5.1 million in loans that were restructured and deemed to be TDRs at December 31, 2016 with $1.3 million of those balances in non-accrual status. Any new TDR is placed on non-accrual is and not returned 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 restructurings were allowed in an effort to maximize the Company’s ability to collect on loans where borrowers were experiencing financial difficulty. 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. The following table presents the Company’s TDR loans as of December 31, 2016, and 2015, respectively: December 31, 2016 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 574 $ 532 $ 42 $ 147 Residential real estate: Residential 1,949 227 1,722 - Construction - - - - Commercial real estate: Commercial and multi-family 1,617 313 1,304 - Construction 257 - 257 - Home equities 667 175 492 1 Consumer and other loans 26 - 26 26 Total troubled restructured loans $ 5,090 $ 1,247 $ 3,843 $ 174 December 31, 2015 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 517 $ 508 $ 9 $ 165 Residential real estate: Residential 1,789 689 1,100 - Construction - - - - Commercial real estate: Commercial and multi-family 1,732 334 1,398 - Construction 834 - 834 - Home equities 867 281 586 - Consumer and other loans 28 - 28 28 Total troubled restructured loans $ 5,767 $ 1,812 $ 3,955 $ 193 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 prevailing market rates given the risk profile of the borrower. The following tables show the data for TDR activity by type of concession granted to the borrower during 2016 and 2015: Year ended December 31, 2016 Year ended December 31, 2015 (Recorded Investment in thousands) (Recorded Investment 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 Extension of maturity 2 121 121 - - - Term-out line of credit 1 20 20 - - - Residential Real Estate & Construction: Extension of maturity 1 95 95 - - - Extension of maturity and interest rate reduction 1 109 109 - - - Commercial Real Estate & Construction - - - - - - Home Equities: - - - - - - Combination of concessions - - - 2 166 166 Consumer and other loans - - - - - - Modifications made to loans in a troubled debt restructuring did not have a material impact on the Company’s net income for the years ended December 31, 2016 and 2015. All of the C&I and commercial real estate TDRs were already considered impaired and sufficiently reserved for prior to being identified as a TDR. At December 31, 2016, there were no commitments to lend additional funds to debtors owing loans or leases whose terms have been modified in TDRs. The general practice of the Bank is to work with borrowers so that they are able to repay 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 to its collateral value. A loan is considered in default when the loan or lease is 90 days past due or is charged-off. The following table presents loans which were classified as TDRs during the preceding twelve months and which subsequently defaulted during the twelve month periods ended December 31, 2016 and 2015, respectively: Year ended December 31, 2016 Year ended December 31, 2015 (Recorded Investment in thousands) (Recorded Investment in thousands) Troubled Debt Restructurings Number of Recorded Number of Recorded That Subsequently Defaulted Contracts Investment Contracts Investment Commercial and industrial - - - - Residential real estate - - - - Commercial real estate - - - - Home equities - - 1 $ 66 Consumer and other loans - - - - |
Properties And Equipment
Properties And Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Properties And Equipment [Abstract] | |
Properties And Equipment | 4. PROPERTIES AND EQUIPMENT Properties and equipment at December 31 were as follows: 2016 2015 (in thousands) Land $ 268 $ 268 Buildings and improvements 13,032 12,867 Construction in progress - 271 Furniture, fixtures, and equipment 15,022 13,444 28,322 26,850 Less accumulated depreciation (17,012) (15,799) Properties and equipment, net $ 11,310 $ 11,051 Depreciation expense totaled $1.2 million in 2016, $1.0 million in 2015, and $1.1 million in 2014. |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2016 | |
Other Assets [Abstract] | |
Other Assets | 5. OTHER ASSETS Other assets at December 31 were as follows: 2016 2015 (in thousands) Net deferred tax asset $ 7,310 $ 6,857 Accrued interest receivable 3,243 2,682 State historic tax credit receivable 2,117 - Prepaid expenses 980 817 Mortgage servicing rights 527 557 Historic tax credit investments 454 - Other 2,212 2,801 Total other assets $ 16,843 $ 13,714 |
Goodwill And Intangible Assets
Goodwill And Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets [Abstract] | |
Goodwill And Intangible Assets | 6. GOODWILL AND INTANGIBLE ASSETS The Company had $8.1 million in goodwill at each of December 31, 2016 and 2015. The entire amount of goodwill is within the insurance agency activities segment. The Company measures the fair value of the insurance agency reporting unit annually, as of December 31, utilizing the market value and income methods. When using the income method, management considered historical information, the operating budget, and strategic goals in projecting net income and cash flows for the next five years. No impairment was recognized as a result of the goodwill impairment test as of December 31, 2016 and 2015, respectively. Further discussion of the Company’s goodwill impairment testing is included in Note 1. TEA acquired A.M. Smith Group, Inc., a local insurance agency in Lockport, NY, on December 31, 2016. Intangible assets related to that acquisition are reflected in the table below : 2016 Gross Carrying Amount Accumulated Amortization Net Weighted Avg Amortization Period (in thousands) Insurance expirations $ 305 $ - $ 305 5 years There were no intangible assets as of December 31, 2015. Amortization expense related to intangibles for the years ended December 31, 2016, 2015, and 2014 was $0, $0, and $108 thousand, respectively. Estimated amortization expense for each of the five succeeding fiscal years is as follows: Year Ending December 31 Amount (in thousands) 2017 $ 61 2018 61 2019 61 2020 61 2021 61 $ 305 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Deposits [Abstract] | |
Deposits | 7. DEPOSITS Time deposits, with minimum denominations of $100 thousand each, totaled $70.2 million and $40.1 million at December 31, 2016 and 2015, respectively. There were overdrawn deposit accounts classified as loans of less than $0.1 million and $0.2 million at December 31, 2016 and 2015, respectively. At December 31, 2016, the scheduled maturities of all time deposits were as follows: (in thousands) 2017 $ 60,854 2018 37,611 2019 13,749 2020 17,994 2021 10,741 $ 140,949 In prior years, some of the Company’s time deposits were obtained through brokered transactions. Brokered time deposits totaled $1.2 million at each of December 31, 2016 and 2015. |
Borrowed Funds And Junior Subor
Borrowed Funds And Junior Subordinated Debentures | 12 Months Ended |
Dec. 31, 2016 | |
Borrowed Funds And Junior Subordinated Debentures [Abstract] | |
Borrowed Funds And Junior Subordinated Debentures | 8. BORROWED FUNDS AND JUNIOR SUBORDINATED DEBENTURES Other borrowings at December 31, 2016 consist of a $10 million advance from the FHLB with a fixed interest rate of 1.73% that matures in 2020 and a FHLB Overnight Line of Credit advance of $18.2 million. The Bank has the ability to borrow additional funds from the FHLB based on the available securities or real estate loans that can be used as collateral and to purchase additional federal funds through one of the Bank’s correspondent banks. Given the current collateral available, advances of up to $199 million can be drawn on the FHLB via the Bank’s Overnight Line of Credit Agreement. The Bank also has the ability to purchase up to $1 8 million in federal funds from its correspondent banks. As a member of the Federal Home Loan Bank System, the Bank is required to hold stock in FHLBNY. The Bank held FHLBNY stock with a carrying value of $2.2 million and $1.3 million as of December 31, 2016 and December 31, 2015, respectively. The amounts and interest rates of other borrowed funds were as follows: FHLB Overnight Line of Credit FHLB Advances Total Other Borrowings (in thousands) At December 31, 2016 Amount outstanding $ 18,200 $ 10,000 $ 28,200 Weighted-average interest rate 0.74 % 1.73 % 1.09 % For the year ended December 31, 2016 Highest amount at a month end $ 49,100 $ 10,000 Daily average amount outstanding $ 16,011 $ 10,000 $ 26,011 Weighted-average interest rate 0.61 % 1.73 % 1.05 % At December 31, 2015 Amount outstanding $ - $ 10,000 $ 10,000 Weighted-average interest rate - % 1.73 % 1.73 % For the year ended December 31, 2015 Highest amount at a month end $ 17,700 $ 10,000 Daily average amount outstanding $ 2,504 $ 7,151 $ 9,655 Weighted-average interest rate 0.33 % 1.79 % 1.41 % At December 31, 2014 Amount outstanding $ 13,700 $ - $ 13,700 Weighted-average interest rate 0.32 % - % 0.32 % For the year ended December 31, 2014 Highest amount at a month end $ 13,700 $ 9,000 Daily average amount outstanding $ 3,938 $ 5,000 $ 8,938 Weighted-average interest rate 0.25 % 3.54 % 2.09 % On October 1, 2004 , Evans Capital Trust I, a statutory business trust wholly-owned by the Company (the “Trust”), issued $11.0 million in aggregate principal amount of floating rate preferred capital securities due November 23, 2034 (the “Capital Securities”) classified on the Company’s consolidated balance sheets as Junior Subordinated Debentures. The distribution rate on the Capital Securities of the Trust adjusts quarterly based on changes in the three-month London Interbank Offered Rate (“LIBOR”) and was 3.59% at December 31, 2016. The Capital Securities have a distribution rate of three-month LIBOR plus 2.65% , and the distribution dates are February 23, May 23, August 23, and November 23. The common securities of the Trust (the “Common Securities”) are wholly-owned by the Company and are the only class of the Trust’s securities possessing general voting powers. The Capital Securities represent preferred undivided interests in the assets of the Trust. Under the Federal Reserve Board’s current risk-based capital guidelines, the Capital Securities are includable in the Company’s Tier 1 (Core) capital. The proceeds from the issuances of the Capital Securities and Common Securities were used by the Trust to purchase $11.3 million in aggregate liquidation amount of floating rate junior subordinated deferrable interest debentures (“Junior Subordinated Debentures”) of the Company, due October 1, 2037 , which are comprised of $11.0 million of Capital Securities and $330 thousand of Common Securities. The $330 thousand of Common Securities represent the initial capital contribution of the Company to the Trust, which, in accordance with the provisions of ASC Topic 810 "Consolidation," have not been consolidated and are included in “Other Assets” on the consolidated balance sheet. The Junior Subordinated Debentures represent the sole assets of the Trust, and payments under the Junior Subordinated Debentures are the sole source of cash flow for the Trust. The interest rate payable on the Junior Subordinated Debentures was 3.59% at December 31, 2016. Holders of the Capital Securities receive preferential cumulative cash distributions on each distribution date at the stated distribution rate, unless the Company exercises its right to extend the payment of interest on the Junior Subordinated Debentures for up to twenty quarterly periods, in which case payment of distributions on the respective Capital Securities will be deferred for comparable periods. During an extended interest period, in accordance with terms as defined in the indenture relating to the Capital Securities, the Company may not pay dividends or distributions on, or repurchase, redeem, or acquire any shares of its capital stock. The agreements governing the Capital Securities, in the aggregate, provide a full, irrevocable, and unconditional guarantee by the Company of the payment of distributions on, the redemption of, and any liquidation distribution with respect to the Capital Securities. The obligations under such guarantee and the Capital Securities are subordinate and junior in right of payment to all senior indebtedness of the Company. The Capital Securities will remain outstanding until the Junior Subordinated Debentures are repaid at maturity, are redeemed prior to maturity, or are distributed in liquidation to the Trust. The Capital Securities are mandatorily redeemable in whole, but not in part, upon repayment at the stated maturity dates of the Junior Subordinated Debentures or the earlier redemption of the Junior Subordinated Debentures in whole upon the occurrence of one or more events (“Events”) set forth in the indentures relating to the Capital Securities, and in whole or in part at any time after the stated optional redemption date of November 23, 2009, contemporaneously with the optional redemption of the related Junior Subordinated Debentures in whole or in part. The Junior Subordinated Debentures are redeemable prior to their stated maturity dates at the Company’s option: (i) on or after the stated optional redemption dates, in whole at any time, or in part from time to time; or (ii) in whole, but not in part, at any time within 90 days following the occurrence and during the continuation of one or more of the Events, in each case subject to possible regulatory approval. The redemption price of the Capital Securities and the related Junior Subordinated Debentures upon early redemption would be at the liquidation amount plus accumulated but unpaid distributions. |
Securities Sold Under Agreement
Securities Sold Under Agreements To Repurchase | 12 Months Ended |
Dec. 31, 2016 | |
Securities Sold Under Agreements To Repurchase [Abstract] | |
Securities Sold Under Agreements To Repurchase | 9. SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE The Bank enters into agreements with customers to sell securities owned by the Bank to the customers and repurchase the identical security, within one business day. No physical movement of the securities is involved. The customer is informed the securities are held in safekeeping by the Bank on behalf of the customer. The Bank had $ 10. 2 million and $ 10.8 million in securities sold under agreement to repurchase at December 31, 2016 and 2015, respectively. |
Comprehensive Income (Loss)
Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2016 | |
Comprehensive Income (Loss) [Abstract] | |
Comprehensive Income (Loss) | 10. COMPREHENSIVE INCOME (LOSS) The following tables display the components of other comprehensive income (loss), net of tax: Balance at December 31, 2015 Net Change Balance at December 31, 2016 (in thousands) Net unrealized gain (loss) on investment securities $ 475 $ (840) $ (365) Net defined benefit pension plan adjustments (2,285) 226 (2,059) Total $ (1,810) $ (614) $ (2,424) Balance at December 31, 2014 Net Change Balance at December 31, 2015 (in thousands) Net unrealized gain (loss) on investment securities $ 911 $ (436) $ 475 Net defined benefit pension plan adjustments (2,419) 134 (2,285) Total $ (1,508) $ (302) $ (1,810) Balance at December 31, 2013 Net Change Balance at December 31, 2014 (in thousands) Net unrealized gain on investment securities $ 191 $ 720 $ 911 Net defined benefit pension plan adjustments (1,454) (965) (2,419) Total $ (1,263) $ (245) $ (1,508) December 31, 2016 (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized gain (loss) on investment securities $ (1,355) $ 515 $ (840) Defined benefit pension plans adjustments: Net actuarial gain (loss) $ 110 $ (42) $ 68 Reclassifications from accumulated other comprehensive income for gains (losses) Amortization of prior service cost (a) 31 (12) 19 Amortization of actuarial loss (a) 221 (82) 139 Net change 362 (136) 226 Other Comprehensive Income (Loss) $ (993) $ 379 $ (614) (a) Included in net periodic pension cost as described in Note 11 – “Employee Benefits and Deferred Compensation Plans” December 31, 2015 (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized (loss) gain on investment securities $ (719) $ 283 $ (436) Defined benefit pension plans adjustments: Net actuarial gain (loss) $ 5 $ (15) $ (10) Reclassifications from accumulated other comprehensive income for gains (losses) Amortization of prior service cost (a) 31 (12) 19 Amortization of actuarial loss (a) 201 (76) 125 Net change 237 (103) 134 Other Comprehensive Income (Loss) $ (482) $ 180 $ (302) (a) Included in net periodic pension cost as described in Note 11 – “Employee Benefits and Deferred Compensation Plans ” December 31, 2014 (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized gain (loss) on investment securities $ 1,173 $ (453) $ 720 Defined benefit pension plans adjustments: Net actuarial gain (loss) $ (1,710) $ 662 $ (1,048) Reclassifications from accumulated other comprehensive income for gains (losses) Amortization of prior service cost (a) 31 (12) 19 Amortization of actuarial loss (a) 105 (41) 64 Net change (1,574) 609 (965) Other Comprehensive Income (Loss) $ (401) $ 156 $ (245) (a) Included in net periodic pension cost as described in Note 11 – “Employee Benefits and Deferred Compensation Plans” |
Employee Benefits And Deferred
Employee Benefits And Deferred Compensation Plans | 12 Months Ended |
Dec. 31, 2016 | |
Employee Benefits And Deferred Compensation Plans [Abstract] | |
Employee Benefits And Deferred Compensation Plans | 11. EMPLOYEE BENEFITS AND DEFERRED COMPENSATION PLANS Employees’ Pension Plan The Bank has a defined benefit pension plan that covered substantially all employees of the Company and its subsidiaries. The Pension Plan provides benefits that are based on the employees’ compensation and years of service. The Bank uses an actuarial method of amortizing prior service cost and unrecognized net gains or losses which result from actual experience and assumptions being different than those that are projected. The amortization method the Bank uses recognizes the prior service cost and net gains or losses over the average remaining service period of active employees which exceeds the required amortization. The Pension Plan was frozen effective January 31, 2008. Under the freeze, eligible employees will receive the benefits already earned through January 31, 2008 at retirement, but will not be able to accrue any additional benefits. As a result, service cost will no longer be incurred. Selected Financial Information for the Pension Plan is as follows: 12/31/2016 12/31/2015 Change in benefit obligation: (in thousands) Benefit obligation at the beginning of the year $ 5,384 $ 5,437 Service cost - - Interest cost 221 205 Assumption change 97 (61) Actuarial (gain) loss 11 (4) Benefits paid (189) (193) Benefit obligation at the end of the year 5,524 5,384 Change in plan assets: Fair value of plan assets at the beginning of year 4,067 4,201 Actual return on plan assets 248 (106) Employer contributions 140 165 Benefits paid (189) (193) Fair value of plan assets at the end of year 4,266 4,067 Funded status $ (1,258) $ (1,317) Amount recognized in the Consolidated Balance Sheets consist of: Accrued benefit liabilities $ (1,258) $ (1,317) Amount recognized in the Accumulated Other Comprehensive Loss consists of: Net actuarial loss $ 2,429 $ 2,390 Prior service cost - - Net amount recognized in equity - pre-tax $ 2,429 $ 2,390 Net amount recognized on Consolidated Balance Sheets in Other Liabilities $ 1,171 $ 1,073 Accumulated benefit obligation at year end $ 5,524 $ 5,384 Assumptions used by the Bank in the determination of Pension Plan information consisted of the following: 2016 2015 2014 Discount rate for projected benefit obligation 3.95 % 4.17 % 3.83 % Discount rate for net periodic pension cost 4.17 % 3.83 % 4.78 % Rate of increase in compensation levels - % - % - % Expected long-term rate of return of plan assets 6.50 % 7.50 % 7.50 % The components of net periodic benefit cost consisted of the following: 2016 2015 2014 (in thousands) Service cost $ - $ - $ - Interest cost 221 205 206 Expected return on plan assets (263) (308) (307) Net amortization and deferral 85 71 22 Net periodic benefit cost $ 43 $ (32) $ (79) The estimated amounts to be amortized from accumulated other comprehensive loss into net periodic cost in 2017 for amortization of actuarial loss will be $92 thousand. The expected long-term rate of return on Pension Plan assets assumption was determined based on historical returns earned by equity and fixed income securities, adjusted to reflect future return expectations based on plan targeted asset allocation. Equity and fixed income securities were assumed to earn returns in the ranges of 5% to 10% and 5% to 6% , respectively. When these overall return expectations are applied to the Pension Plan’s targeted allocation, the expected rate of return is determined to be 6.50% , which is within the range of expected return. The Company’s management will continue to evaluate its actuarial assumptions, including the expected rate of return, at least annually, and will adjust as necessary. The weighted average asset allocation of the Pension Plan at December 31, 2016 and 2015, the Pension Plan measurement date, was as follows: Asset Category: 2016 2015 Equity mutual funds 67.97 % 73.51 % Fixed income mutual funds 30.20 % 18.64 % Cash/Short-term investments 1.83 % 7.85 % 100.00 % 100.00 % The portfolio is invested in accordance with sound investment practices that emphasize long-term investment fundamentals. Consistent with this approach, the investment of the portfolio’s assets is guided by the following underlying goals: to diversify the portfolio in order to reduce risk and to maintain sufficient liquidity to meet the obligations of the Plan. The Plan’s long-term asset allocation under normal market conditions is comprised of 65% equity investments and 35% in fixed income assets and other short term cash equivalents. The portfolio largely adhered to this allocation throughout 2016. The investment objective of the allocation in equity investments emphasizes long term capital appreciation. These equity investments are diversified across market capitalization, industries, style and geographical location. The investment objective of the fixed income allocation is to generally provide a diversified source of income with an awareness of capital preservation. The Company contributed $140 thousand to the Pension Plan in 2016 and estimates that it will contribute another $140 thousand to the Pension Plan in 2017. The major categories of assets in the Bank’s Pension Plan as of year-end are presented in the following table. Assets are segregated according to their investment objective by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value (see Note 19 – Fair Value of Financial Instruments). 2016 2015 (in thousands) Level 1: Cash $ - $ 44 Mutual funds: Short-term investments: Money market 78 275 Fixed Income: 1,288 394 Equities: Small cap 307 375 Large cap 1,008 - Real estate 101 234 International large cap 923 757 International small cap 201 - Emerging markets 254 388 Currency - 177 Commodity 106 35 Bank loans - 187 Exchange -traded funds (ETFs): Large cap - 844 Mid cap - 357 $ 4,266 $ 4,067 The mutual funds and ETFs are actively traded with market quotes available on at least a daily basis. Therefore, they are Level 1 assets. The discount rate utilized by the Company for determining future pension obligations is based on a review of long-term bonds that receive one of the two highest ratings given by a recognized rating agency. The discount rate determined on this basis decreased from 4.17% at December 31, 2015 to 3.95% at December 31, 2016 for the Company's Pension Plan. Expected benefit payments under the Pension Plan over the next ten years at December 31, 2016 are as follows: (in thousands) 2017 $ 202 2018 212 2019 211 2020 210 2021 225 Year 2022 - 2026 1,540 Supplemental Executive Retirement Plans The Bank also maintains a non-qualified supplemental executive retirement plan (the “SERP”) covering certain members of the Company’s senior management. The SERP was amended during 2003 to provide a benefit based on a percentage of final average earnings, as opposed to the fixed benefit that was provided for in the superseded plan. On April 8, 2010, the Compensation Committee of the Board of Directors of the Company approved the adoption of the Evans Bank, N.A. Supplemental Executive Retirement Plan for Senior Executives (“the Senior Executive SERP”). The “old” SERP plan will keep its participants at the time of the creation of the Senior Executive SERP, but any future executives identified by the Board of Directors as eligible for SERP benefits will participate in the Senior Executive SERP. A participant is generally entitled to receive a benefit under the Senior Executive SERP upon a termination of employment, other than for “cause”, after the participant has completed 10 full calendar years of service with the Bank. No benefit is payable under the Senior Executive SERP if the participant’s employment is terminated for “cause” or if the participant voluntarily terminates before completing 10 full calendar years of service with the Bank. In addition, the payment of benefits under the Senior Executive SERP is conditioned upon certain agreements of the participant related to confidentiality, cooperation, non-competition, and non-solicitation. A participant will be entitled to a retirement benefit under the Senior Executive SERP if his or her employment with the Bank terminates other than for “cause”. The “accrued benefit” is based on a percentage of the participant’s final average earnings, which is determined based upon the participant’s total annual compensation over the highest consecutive five calendar years of the participant’s employment with the Bank, accrued over the participant’s “required benefit service”. The percentages and years of service requirements are set forth in each participant’s Participation Agreement, and range from 25% to 35% and from 15 to 20 years. The obligations related to the two SERP plans are indirectly funded by various life insurance contracts naming the Bank as beneficiary. The Bank has also indirectly funded the SERPs, as well as other benefits provided to other employees through bank-owned life insurance. The Bank uses an actuarial method of amortizing unrecognized net gains or losses which result from actual experience and assumptions being different than those that are projected. The amortization method the Bank is using recognizes the net gains or losses over the average remaining service period of active employees, which exceeds the required amortization. Selected financial information for the two SERP plans is as follows: 12/31/2016 12/31/2015 Change in benefit obligation: (in thousands) Benefit obligation at the beginning of the year $ 4,349 $ 4,555 Service cost 188 194 Interest cost 144 146 Actuarial (gain) loss (234) (354) Benefits paid (192) (192) Benefit obligation at the end of the year 4,255 4,349 Change in plan assets: Fair value of plan assets at the beginning of year - - Actual return on plan assets - - Employer contributions 192 192 Benefits paid (192) (192) Fair value of plan assets at the end of year - - Funded status $ (4,255) $ (4,349) Amount recognized in the Consolidated Balance Sheets consist of: Accrued benefit liabilities $ (4,255) $ (4,349) Amount recognized in the Accumulated Other Comprehensive Loss consists of: Net actuarial loss $ 747 $ 1,117 Prior service cost 187 218 Net amount recognized in equity - pre-tax $ 934 $ 1,335 Net amount recognized on Consolidated Balance Sheets in Other Liabilities $ (3,321) $ (3,014) Accumulated benefit obligation at year end $ 3,902 $ 3,876 Assumptions used by the Bank in both years in the determination of SERP information consisted of the following: 2016 2015 2014 Discount rate for projected benefit obligation 3.30 % 3.38 % 3.30 % Discount rate for net periodic pension cost 3.38 % 3.30 % 4.15 % Salary scale 3.00 % 3.50 % 3.50 % The discount rate utilized by the Company for determining future pension obligations is based on a review of long-term bonds that receive one of the two highest ratings given by a recognized rating agency. The discount rate determined on this basis decreased from 3.38% at December 31, 2015 to 3.30% at December 31, 2016 (i.e. the measurement date) for the SERP. The components of net periodic benefit cost consisted of the following: 2016 2015 2014 (in thousands) Service cost $ 188 $ 194 $ 168 Interest cost 144 146 159 Net amortization and deferral 167 161 115 Net periodic benefit cost $ 499 $ 501 $ 442 The estimated amounts to be amortized from accumulated other comprehensive loss into net periodic benefit cost in 2016 for prior service costs and actuarial loss will be $31 thousand and $81 thousand, respectively. Expected benefit payments under the SERP over the next ten years at December 31, 2016 are as follows: (in thousands) 2017 $ 193 2018 193 2019 1,848 2020 193 2021 277 Year 2022 - 2026 1,410 Other Compensation Plans The Company has a non-qualified deferred compensation plan whereby directors and certain officers may defer a portion of their base pre-tax compensation. Additionally, the Company has a non-qualified executive incentive retirement plan, whereby the Company defers on behalf of certain officers a portion of their base compensation until retirement or termination of service, subject to certain vesting arrangements. Aggregate expense under these plans was approximately $110 thousand in 2016, $105 thousand in 2015, and $210 thousand in 2014. The benefit obligation, included in other liabilities in the Company’s consolidated balance sheets, was $2.2 million at December 31, 2016 and 2015. These benefit plans are indirectly funded by bank-owned life insurance contracts with a total aggregate cash surrender value of approximately $21.5 million and $21.0 million at December 31, 2016 and 2015, respectively. Increases in cash surrender value are included in other non-interest income on the Company’s Consolidated Statements of Income. Endorsement split-dollar life insurance benefits have also been provided to directors and certain officers of the Bank and its subsidiaries during employment. The Bank also has a defined contribution retirement and thrift 401(k) Plan (the “401(k) Plan”) for its employees who meet certain length of service and age requirements. The provisions of the 401(k) Plan allow eligible employees to contribute a portion of their annual salary, up to the IRS statutory limit. The 401(k) plan includes a Qualified Automatic Contribution Arrangement (“QACA”). This arrangement features automatic deferred contributions with annual escalation, a QACA matching contribution, and an additional matching contribution. Employees vest in employer contributions over six years. The Company’s expense under the 401(k) Plan was approximately $727 thousand, $751 thousand, and $719 thousand for the years ended December 31, 2016, 2015, and 2014, respectively. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | 12. STOCK-BASED COMPENSATION At December 31, 2016, the Company had two stock-based compensation plans, which are described below. The Company accounts for the fair value of its grants under these plans in accordance with ASC Topic 718, “Compensation – Stock Compensation”. The compensation cost charged against income for those plans was $380 thousand, $318 thousand, and $293 thousand for 2016, 2015, and 2014, respectively, and is included in “Salaries and Employee Benefits” in the Company’s Consolidated Statements of Income. All stock option and restricted stock expense is recorded on a straight-line basis over the expected vesting term. In addition, expenses for director options and restricted stock were recognized to reflect $98 thousand, $106 thousand, and $83 thousand in 2016, 2015, and 2014, respectively, as part of “Other” expense in the Company’s Consolidated Statements of Income. 2009 Long-Term Equity Incentive Plan Under the Company’s 2009 Long-Term Equity Incentive Plan (the “2009 Plan”) and, prior to the adoption of the 2009 Plan by shareholders in April 2009, under the Company’s 1999 Employee Stock Option and Long-Term Incentive Plan (the “1999 Plan” and together with the 2009 Plan, the “Equity Plans”), the Company has granted options or restricted stock to officers, directors and key employees of the Company and its subsidiaries. Under the Equity Plans, the Company was authorized to issue up to 629,796 shares of common stock. Under the Equity Plans, the exercise price of each option is not to be less than 100% of the market price of the Company’s stock on the date of grant and an option’s maximum term is ten years. If available, the Company normally issues shares out of its treasury for any options exercised or restricted shares issued. The options have vesting schedules from 12 months through 4 years. At December 31, 2016, there were a total of 137,395 shares available for grant under the 2009 Plan. The Company may no longer make grants under the 1999 Plan. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: 2016 2015 2014 Dividend Yield 2.88 % 2.93 % 2.70 % Expected Life (years) 6.77 6.36 6.36 Expected Volatility 17.25 % 19.62 % 20.76 % Risk-free Interest Rate 1.78 % 1.90 % 2.11 % Weighted Average Fair Value $ 3.05 $ 3.49 $ 3.64 The Company used historical volatility calculated using daily closing prices for its common stock over periods that match the expected term of the option granted to estimate the expected volatility. The risk-free interest rate assumption was based upon U.S. Treasury yields appropriate for the expected term of the Company's stock options based upon the date of grant. The expected dividend yield was based upon the Company's recent history of paying dividends. The expected life was based upon the options’ expected vesting schedule and historical exercise patterns. Stock options activity for 2016 was as follows: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Balance, December 31, 2015 214,295 $ 17.30 Granted 49,550 25.00 Exercised (6,050) 16.60 Expired (645) 22.93 Forfeited (5,448) 24.49 Balance, December 31, 2016 251,702 $ 18.66 5.75 $ 3,229 Exercisable, December 31, 2016 164,390 $ 15.73 4.27 $ 2,585 Future compensation cost expected to be expensed over the weighted average remaining contractual term for remaining outstanding options is $204 thousand. The unrecognized compensation cost is scheduled to be recognized as follows: (in thousands) 2017 $ 86 2018 70 2019 41 2020 7 Restricted stock award activity for 2016 was as follows: Shares Weighted Average Grant Date Fair Value Balance, December 31, 2015 33,690 $ 21.98 Granted 22,308 24.89 Vested (14,629) 22.09 Forfeited (2,201) 24.41 Balance, December 31, 2016 39,168 $ 23.68 As of December 31, 2016, there was $627 thousand in unrecognized compensation cost related to restricted share-based compensation arrangements granted under the Equity Plans. The unrecognized compensation cost is scheduled to be recognized as follows: (in thousands) 2017 $ 270 2018 211 2019 124 2020 22 During fiscal years 2016, 2015, and 2014, the following activity occurred under the Company’s plans: 2016 2015 2014 (in thousands) Total intrinsic value of stock options exercised $ 92 $ 409 $ 287 Total fair value of restricted stock awards vested $ 349 $ 287 $ 273 Employee Stock Purchase Plan The Company also maintains the Evans Bancorp, Inc. Employee Stock Purchase Plan (the “Purchase Plan”). As of December 31, 2016, there were 122,554 shares of common stock available to issue to full-time employees of the Company and its subsidiaries, nearly all of whom are eligible to participate. Under the terms of the Purchase Plan, employees can choose each year to have up to 15% of their annual base earnings withheld to purchase the Company’s common stock. The Company grants options on January 1 and July 1 of each year during the term of the Purchase Plan. The purchase price of the stock is 85% of the lower of its price on the grant date or the exercise date. Under the Purchase Plan, the Company issued 10,596 , 10,574 , and 12,821 shares to employees in 2016, 2015, and 2014, respectively. Compensation cost is recognized for the fair value of the employees’ purchase rights, which was estimated using the Black-Scholes model with the following assumptions: 2016 2015 2014 Dividend Yield 2.93 % 3.01 % 2.95 % Expected Life (years) 0.50 0.50 0.50 Expected Volatility 22.97 % 16.47 % 22.41 % Risk-free Interest Rate 0.43 % 0.19 % 0.08 % Weighted Average Fair Value $ 7.71 $ 6.92 $ 6.56 The compensation cost that has been charged against income for the Purchase Plan was $75 thousand, $71 thousand, and $89 thousand for 2016, 2015, and 2014, respectively. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Taxes [Abstract] | |
Income Taxes | 13. INCOME TAXES The components of the provision for income taxes were as follows: 2016 2015 2014 (in thousands) Current federal tax expense $ 1,990 $ 2,784 $ 2,282 Current state tax expense (benefit) 4 3 (118) Total current tax expense 1,994 2,787 2,164 Deferred federal tax expense (benefit) $ (405) $ 435 $ (215) Deferred state tax expense (benefit) 334 545 (1,245) Total deferred tax expense (benefit) (71) 980 (1,460) Total income tax provision $ 1,923 $ 3,767 $ 704 The Company’s provision for income taxes differs from the amounts computed by applying the federal income tax statutory rates to income before income taxes. A reconciliation of the differences is as follows: 2016 2015 2014 Amount Percent Amount Percent Amount Percent (in thousands) Tax provision at statutory rate $ 3,466 34 % $ 3,947 34 % $ 3,023 34 % Change in taxes resulting from: Tax-exempt income (522) (5) (617) (5) (558) (6) Historic tax credit (1,413) (14) - - (996) (11) State taxes, net of federal benefit 236 2 362 3 (899) (10) Other items, net 156 2 75 - 134 1 Income tax provision $ 1,923 19 % $ 3,767 32 % $ 704 8 % As noted in Note 1, f or New York State, any new credit earned from rehabilitated historic properties placed in service on or after January 1, 2015 not used in the current tax year will be treated as a refund or overpayment of tax to be credited to the next year’s tax. Since the realization of the tax credit does not depend on the Bank’s generation of future taxable income or the Bank’s ongoing tax status or tax position, the refund is not considered an element of income tax accounting (ASC 740). In such cases, the Bank would not record the credit as a reduction of income tax expense; rather, the Bank includes the refundable New York State tax credit in non-interest income with a corresponding receivable recorded in other assets. This change in the treatment of New York State rehabilitation tax credits as refundable after January 1, 2015 and the recording of that credit in non-interest income in 2016 rather than in the income tax provision line in 2014 is reflected in the impact of state taxes in the reconciliation above. At December 31, 2016 and 2015 the components of the net deferred tax asset were as follows: 2016 2015 (in thousands) Deferred tax assets: Pension premiums $ 2,094 $ 2,148 Allowance for loan and lease losses 5,222 4,826 Non accrued interest 34 - Deferred compensation 950 956 Litigation accrual 61 204 Loss on investment in tax credit 636 452 Stock options granted 169 134 Net operating loss carryforward - 62 Historic tax credit carryforward 786 980 Leases 157 156 Net unrealized losses on securities 224 - Gross deferred tax assets $ 10,333 $ 9,918 Deferred tax liabilities: Depreciation and amortization $ 2,071 $ 1,806 Prepaid expenses 476 459 Net unrealized gains on securities - 291 Mortgage servicing asset 200 212 Gross deferred tax liabilities $ 2,747 $ 2,768 Valuation allowance (276) (293) Net deferred tax asset $ 7,310 $ 6,857 The net deferred tax asset at December 31, 2016 and 2015 is included in “other assets” in the Company’s consolidated balance sheets. In assessing the ability of the Company to realize the benefit of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, availability of operating loss carrybacks, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income, the opportunity for net operating loss carrybacks, and projections for future taxable income over the periods which deferred tax assets are deductible, management believes it is more likely than not the Company will generate sufficient taxable income to realize the benefits of these deductible differences at December 31, 2016, except for a valuation allowance of $276 thousand on the net deferred tax asset for an investment in a historic tax credit of $636 thousand. In assessing the need for a valuation allowance for the deferred tax assets for the investments in the historic tax credit investments, the Bank considered all positive and negative evidence in assessing whether the weight of available evidence supports the recognition of some or all of the deferred tax assets related to these investments. Because of the tax nature of the loss to be recognized when the investment is ultimately sold (which for tax purposes will give rise to a capital loss), the Bank does not have any known capital gains in the future to be able to utilize the capital losses from these investments. Therefore, the Bank’s assessment of the deferred tax asset warrants the need for a valuation allowance to be recognized on the deferred tax asset that it determined is more-likely-than-not to not be realized. The amount of remaining capital loss includes the projected capital basis after taking tax credit, expected losses, and cash distributions. The state historic tax credit carryforward has an indefinite life with no expiration date in which to utilize the credit. The Company did no t have any unrecognized tax benefits for the years ended December 31, 2016, 2015, and 2014. There were no accrued penalties and interest at December 31, 2016 and 2015. The Company is subject to routine audits of its tax returns by the Internal Revenue Service (“IRS”) and various state taxing authorities. During 2010, the Company concluded a NYS audit covering the years 2005-2007 and an IRS audit covering the years 2006-2008. These audits concluded with no material adverse findings. The tax years 2011 - 2015 for NYS and 2013 - 2015 for the IRS remain subjec t to examination. |
Other Liabilities
Other Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Other Liabilities [Abstract] | |
Other Liabilities | 14. OTHER LIABILITIES Other liabilities at December 31 were as follows: 2016 2015 (in thousands) Retirement compensation liabilities $ 8,012 $ 7,986 Accounts payable 3,432 2,803 Historic tax credit investment 2,320 911 Interest payable 233 160 Other 301 858 Total other liabilities $ 14,298 $ 12,718 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 15. RELATED PARTY TRANSACTIONS The Bank has entered into loan transactions with certain directors, significant shareholders and their affiliates (related parties) in the ordinary course of its business. The aggregate outstanding principal balance of loans to such related parties on December 31, 2016 and 2015 was $3.1 million and $4.3 million, respectively. During 2016, there were $5.2 million of advances and new loans to such related parties, and repayments amounted to $5.8 million. Terms of these loans have prevailing market pricing that would be offered to similarly-situated non-affiliated third parties. Deposits from related parties were $2.2 million and $4.0 million as of December 31, 2016 and 2015, respectively. |
Contingent Liabilities And Comm
Contingent Liabilities And Commitments | 12 Months Ended |
Dec. 31, 2016 | |
Contingent Liabilities And Commitments [Abstract] | |
Contingent Liabilities And Commitments | 16. CONTINGENT LIABILITIES AND COMMITMENTS The Company’s 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 are commitments to extend credit and standby letters of credit. A summary of the Bank’s commitments and contingent liabilities at December 31, 2016 and 2015 is as follows: December 31, December 31, 2016 2015 (in thousands) Commitments to extend credit $ 217,581 $ 206,346 Standby letters of credit 3,736 3,794 Total $ 221,317 $ 210,140 Commitments to extend credit and standby letters of credit all include exposure to some credit loss in the event of non-performance of 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 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 to the Bank. The Bank has no t incurred any losses on its commitments during the past three years and has no t recorded a reserve for its commitments. The Company has entered into contracts with third parties, some of which include indemnification clauses. Examples of such contracts include contracts with third-party service providers, brokers and dealers, correspondent banks, and purchasers of residential mortgages. Additionally, the Company has bylaws, policies, and agreements under which it agrees to indemnify its officers and directors from liability for certain events or occurrences while the directors or officers are, or were, serving at the Company’s request in such capacities. The Company indemnifies its officers and directors to the fullest extent allowed by law. The maximum potential amount of future payments that the Company could be required to make under these indemnification provisions is unlimited, but would be affected by all relevant defenses to such claims, as well as directors’ and officers’ liability insurance maintained by the Company. Due to the nature of these indemnification provisions, it is not possible to quantify the aggregate exposure to the Company resulting from them. 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 to be material. The Company leases certain offices, land and equipment under long-term operating leases. The aggregate minimum annual rental commitments under these leases total approximately $642 thousand in 2017; $662 thousand in 2018; $650 thousand in 2019; $595 thousand in 2020; $538 thousand in 2021, and $3.1 million thereafter. The rental expense under operating leases contained in the Company’s Consolidated Statements of Income included $626 thousand, $645 thousand, and $644 thousand, in 2016, 2015, and 2014, respectively. |
Concentrations Of Credit
Concentrations Of Credit | 12 Months Ended |
Dec. 31, 2016 | |
Concentrations Of Credit [Abstract] | |
Concentrations Of Credit | 17. CONCENTRATIONS OF CREDIT All of the Bank’s loans, commitments, and standby letters of credit have been granted to customers in the Bank’s primary market area, which is Western New York. Investments in state and municipal securities also involve governmental entities within the Bank’s primary market area. The concentrations of credit by type of loan are set forth in Note 3 to these Consolidated Financial Statements, "Loans and the Allowance for Loan Losses." The distribution of commitments to extend credit approximates the distribution of loans outstanding. Standby letters of credit were granted primarily to commercial borrowers. The Bank, as a matter of policy, does not extend credit to any single borrower or group in excess of 15% of capital. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2016 | |
Segment Information [Abstract] | |
Segment Information | 18. SEGMENT INFORMATION The Company is comprised of two primary business segments: banking activities and insurance agency activities. The operating segments are separately managed and their performance is evaluated based on net income. The banking business segment includes both commercial and consumer banking services, including a wide array of lending and depository services as well as offering non-deposit investment products, such as annuities and mutual funds. The insurance agency segment includes the activities of selling various premium-based insurance policies on a commission basis, including business and personal insurance, surety bonds, risk management, life, disability and long-term care coverage, as well as providing claims adjusting services to various insurance companies. All sources of segment specific revenues and expenses contributed to management’s definition of net income. Revenues from transactions between the two segments are not significant. The accounting policies of the segments are the same as those described in Note 1 of these “Notes to Consolidated Financial Statements.” The following tables set forth information regarding these segments for the years ended December 31, 2016, 2015, and 2014. 2016 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 35,371 $ (123) $ 35,248 Provision for loan losses 1,209 - 1,209 Net interest income (expense) after provision for loan losses 34,162 (123) 34,039 Non-interest income 4,733 - 4,733 Insurance service and fees 400 6,119 6,519 Non-interest expense 30,438 4,658 35,096 Income before income taxes 8,857 1,338 10,195 Income tax provision 1,408 515 1,923 Net income $ 7,449 $ 823 $ 8,272 2015 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 31,921 $ (117) $ 31,804 Provision for loan losses 1,216 - 1,216 Net interest income (expense) after provision for loan losses 30,705 (117) 30,588 Non-interest income 6,526 - 6,526 Insurance service and fees 672 6,522 7,194 Non-interest expense 28,103 4,595 32,698 Income before income taxes 9,800 1,810 11,610 Income tax provision 3,071 696 3,767 Net income $ 6,729 $ 1,114 $ 7,843 2014 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 31,214 $ (115) $ 31,099 Provision for loan losses 1,229 - 1,229 Net interest income (expense) after provision for loan losses 29,985 (115) 29,870 Non-interest income 3,142 - 3,142 Insurance service and fees 591 6,540 7,131 Amortization expense - 108 108 Non-interest expense 26,875 4,269 31,144 Income before income taxes 6,843 2,048 8,891 Income tax provision (benefit) (85) 789 704 Net income $ 6,928 $ 1,259 $ 8,187 December 31, December 31, 2016 2015 (in thousands) Identifiable Assets, Net Banking activities $ 1,091,291 $ 929,998 Insurance agency activities 9,418 9,109 Consolidated Total Assets $ 1,100,709 $ 939,107 |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Of Financial Instruments [Abstract] | |
Fair Value Of Financial Instruments | 19. FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is defined in ASC Topic 820 “Fair Value Measurements and Disclosures” 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 inputs are quoted prices for identical instruments in active markets; · Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and · Level 3 inputs are 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 December 31, 2016 and 2015: (in thousands) Level 1 Level 2 Level 3 Fair Value December 31, 2016 Securities available-for-sale: U.S. government agencies $ - $ 12,872 $ - $ 12,872 States and political subdivisions - 35,142 - 35,142 Mortgage-backed securities - 47,208 - 47,208 Mortgage servicing rights - - 527 527 December 31, 2015 Securities available-for-sale: U.S. government agencies $ - $ 21,846 $ - $ 21,846 States and political subdivisions - 37,683 - 37,683 Mortgage-backed securities - 37,612 - 37,612 Mortgage servicing rights - - 557 557 Securities available for sale Fair values for available for sale securities are determined using independent pricing services and market-participating brokers. The Company utilizes a third-party for these pricing services. The third-party 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 third-party service provider’s 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, our third-party pricing service provider uses model processes, such as the Option Adjusted Spread model, 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 third-party, at times, may determine that it does not have 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, as submitted by our third-party pricing service provider, in the market value of its securities 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 securities 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 may submit an inquiry to our third-party pricing 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 our third-party service provider’s evaluation it can submit a challenge for a change to that security’s valuation. There were no material differences in valuations noted in 2016 or 2015. 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. 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. All assumptions are market driven. 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 items measured at fair value (Level 3) on a recurring basis using significant unobservable inputs during the years ended December 31: (in thousands) 2016 2015 2014 Mortgage servicing rights - January 1 $ 557 $ 518 $ 509 Losses included in earnings (123) (93) (134) Additions from loan sales 93 132 143 Mortgage servicing rights - December 31 $ 527 $ 557 $ 518 Quantitative information about the significant unobservable inputs used in the fair value measurement of MSRs at the respective dates is as follows: December 31, 2016 December 31, 2015 Servicing fees 0.25 % 0.25 % Discount rate 9.52 % 9.52 % Prepayment rate (CPR) 8.12 % 8.55 % 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 December 31, 2016 and 2015: (in thousands) Level 1 Level 2 Level 3 Fair Value December 31, 2016 Collateral dependent impaired loans $ - - 13,114 $ 13,114 December 31, 2015 Collateral dependent impaired loans $ - - 17,758 $ 17,758 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 value 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% . Fair value is estimated based on the value of the collateral securing these loans. 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, unless the commercial loan is impaired due to a troubled debt restructure and is now performing. For consumer loans, the Company obtains appraisals when a loan becomes 60 days past due or is determined to be impaired, whichever occurs first. Subsequent to the downgrade or reaching 60 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 $15.1 million, with a valuation allowance of $2.0 million, at December 31, 2016, compared to a gross value for impaired loans of $19.5 million, with a valuation allowance of $1.7 million, at December 31, 2015. At December 31, 2016 and 2015, 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: December 31, 2016 December 31, 2015 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 13,084 $ 13,084 $ 22,621 $ 22,621 Level 2: Available for sale securities 95,222 95,222 97,141 97,141 FHLB and FRB stock 3,731 3,731 2,783 2,783 Level 3: Held to maturity securities 1,983 1,959 1,617 1,584 Loans, net 928,596 945,998 761,101 772,472 Mortgage servicing rights 527 527 557 557 Financial liabilities: Level 1: Demand deposits $ 201,741 $ 201,741 $ 183,098 $ 183,098 NOW deposits 88,632 88,632 83,674 83,674 Regular savings deposits 508,652 508,652 439,993 439,993 Level 2: Securities sold under agreement to repurchase 10,159 10,159 10,821 10,821 Other borrowed funds 28,200 28,152 10,000 9,874 Junior subordinated debentures 11,330 11,330 11,330 11,330 Level 3: Time deposits 140,949 141,758 96,217 96,975 The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable 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 cash and due from banks and interest-bearing deposits at other banks. 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. FHLB and FRB stock The carrying value of FHLB and FRB stock, which are non-marketable equity investments, approximates fair value. Loans Receivable 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 Topic 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. Borrowed Funds and Securities Sold Under Agreement to Repurchase The fair value of securities sold under agreement to repurchase approximates its carrying value. The fair value of other borrowed funds was estimated using a discounted cash flow analysis based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. Junior Subordinated Debentures There is no active market for the Company’s debentures and there have been no issuances of similar instruments in recent years. The Company looked at a market bond index to estimate a discount margin to value the debentures. The discount margin was very similar to the spread to LIBOR established at the issuance of the debentures. As a result, the Company determined that the fair value of the adjustable-rate debentures approximates their face amount. Pension Plan Assets Refer to Note 11 to these Consolidated Financial Statements, “Employee Benefits and Deferred Compensation Plans” for the fair value analysis of the Pension Plan assets. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2016 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | 20. REGULATORY MATTERS Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table that follows) of Common Equity Tier I, Total Capital, and Tier I Capital (as defined in FRB regulations) to risk-weighted assets (as defined in FRB regulations), and of Tier I capital (as defined in FRB regulations) to average assets (as defined in FRB regulations). Management believes that as of December 31, 2016 and 2015, the Company and the Bank met all capital adequacy requirements to which they are subject. The most recent notification from their regulators categorized the Company and the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Company and the Bank must maintain minimum Common Equity Tier I, total risk-based, Tier I risk-based, and Tier I leverage ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the Company’s or Bank’s category rating. The Company’s and the Bank’s actual capital amounts and ratios were as follows: December 31, 2016 (in thousands) Company Bank Minimum for Capital Adequacy Purposes Minimum to be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio Common Equity Tier I (to Risk Weighted Assets) $ 102,925 10.82 % $ 100,336 10.56 % $ 42,818 4.5 % $ 61,848 6.5 % Total Capital (to Risk Weighted Assets) $ 114,846 12.07 % $ 112,244 11.81 % $ 76,121 8.0 % $ 95,151 10.0 % Tier I Capital (to Risk Weighted Assets) $ 102,925 10.82 % $ 100,336 10.56 % $ 57,091 6.0 % $ 76,121 8.0 % Tier I Capital (to Average Assets) $ 102,925 9.49 % $ 100,336 9.25 % $ 43,395 4.0 % $ 54,244 5.0 % The Company is subject to the dividend restrictions imposed by the FRB and the OCC. Dividends are paid as declared by the Board of Directors. The Company may pay dividends only if it is solvent and would not be rendered insolvent by the dividend payment and only from unrestricted and unreserved earned surplus and under some circumstances capital surplus. The Bank’s dividend restrictions apply indirectly to the Company since cash available for dividend distribution will initially come from dividends paid to the Company by the Bank. Dividends may be paid by the Bank only if it would not impair the Bank’s capital structure, if the Bank’s surplus is at least equal to its common capital and if the dividends declared in any year do not exceed the total of net profits in that year combined with undivided profits of the preceding two years less any required transfers to surplus, and if no losses have been sustained equal to or exceeding its undivided profits. In addition, federal regulators have the ability to restrict dividend payments. If the Bank or the Company approaches well-capitalized or minimum capital adequacy levels, regulators could restrict or forbid dividend payments. |
Parent Company Only Financial I
Parent Company Only Financial Information | 12 Months Ended |
Dec. 31, 2016 | |
Parent Company Only Financial Information [Abstract] | |
Parent Company Only Financial Information | 21. PARENT COMPANY ONLY FINANCIAL INFORMATION Parent company (Evans Bancorp, Inc.) only condensed financial information is as follows: CONDENSED BALANCE SHEETS December 31, 2016 2015 (in thousands) ASSETS Cash $ 240 $ 1,030 Other assets 961 1,411 Investment in subsidiaries 108,069 103,309 Total assets $ 109,270 $ 105,750 LIABILITIES AND STOCKHOLDERS’ EQUITY LIABILITIES: Junior subordinated debentures $ 11,330 $ 11,330 Other liabilities 1,192 3,164 Total liabilities 12,522 14,494 STOCKHOLDERS’ EQUITY Total Stockholders’ Equity $ 96,748 $ 91,256 Total liabilities and stockholders’ equity $ 109,270 $ 105,750 CONDENSED STATEMENTS OF INCOME December 31, 2016 2015 2014 (in thousands) Dividends from subsidiaries $ 5,300 $ 2,000 $ 7,000 Expenses (1,477) (1,387) (1,363) Income before equity in undistributed earnings of subsidiaries 3,823 613 5,637 Equity in undistributed earnings of subsidiaries 4,449 7,230 2,550 Net income 8,272 7,843 8,187 Other comprehensive income - - - Comprehensive income $ 8,272 $ 7,843 $ 8,187 CONDENSED STATEMENTS OF CASH FLOWS Year Ended 2016 2015 2014 (in thousands) Operating Activities: Net income $ 8,272 $ 7,843 $ 8,187 Adjustments to reconcile net income to net cash provided by operating activities: Undistributed earnings of subsidiaries (4,449) (7,230) (2,550) Changes in assets and liabilities affecting cash flow: Other assets 371 (267) (89) Other liabilities (1,972) 191 1,563 Net cash provided by operating activities 2,222 537 7,111 Investing Activities: Investment in subsidiaries (250) - - Net cash used in investing activities (250) - - Financing Activities: Proceeds from issuance of common stock 316 - - Cash dividends paid (2,998) (2,765) (2,471) Purchase of Treasury stock (80) - (1,436) Net cash used in financing activities (2,762) (2,765) (3,907) Net increase (decrease) in cash (790) (2,228) 3,204 Cash beginning of year 1,030 3,258 54 Cash ending of year $ 240 $ 1,030 $ 3,258 |
Selected Quarterly Financial Da
Selected Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2016 | |
Selected Quarterly Financial Data [Abstract] | |
Selected Quarterly Financial Data | 22. SELECTED QUARTERLY FINANCIAL DATA - UNAUDITED 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter (in thousands, except for per share data) 2016 Interest Income $ 10,664 $ 10,241 $ 9,694 $ 9,356 Interest Expense 1,261 1,172 1,178 1,096 Net Interest Income 9,403 9,069 8,516 8,260 Net Income 2,339 2,216 2,003 1,714 Earnings per share basic 0.54 0.52 0.47 0.40 Earnings per share diluted 0.53 0.51 0.46 0.40 2015 Interest Income $ 9,437 $ 9,099 $ 8,636 $ 8,456 Interest Expense 1,001 960 988 875 Net Interest Income 8,436 8,139 7,648 7,581 Net Income 1,754 2,509 1,675 1,905 Earnings per share basic 0.41 0.59 0.40 0.45 Earnings per share diluted 0.41 0.58 0.39 0.44 |
Organization And Summary Of S31
Organization And Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2016 | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Organization And General | Organization and General Evans Bancorp, Inc. (the “Company”) was organized as a New York business corporation and incorporated under the laws of the State of New York on October 28, 1988 for the purpose of becoming a bank holding company. Through August 2004, the Company was registered with the Federal Reserve Board (“FRB”) as a bank holding company under the Bank Holding Company Act of 1956, as amended. In August 2004, the Company filed for, and was approved as, a Financial Holding Company under the Bank Holding Company Act. The Company currently conducts its business through its two subsidiaries: Evans Bank, N.A. (the “Bank”), a nationally chartered bank, and its subsidiaries, Suchak Data Systems, LLC (“SDS”), Evans National Leasing, Inc. (“ENL”) and Evans National Holding Corp. (“ENHC”); and Evans National Financial Services, LLC (“ENFS”) and its subsidiary, The Evans Agency LLC (“TEA”). Unless the context otherwise requires, the term “Company” refers collectively to Evans Bancorp, Inc. and its subsidiaries. The Company conducts its business through its subsidiaries. It does not engage in any other substantial business. |
Regulatory Requirements | Regulatory Requirements The Company is subject to the rules, regulations, and reporting requirements of various regulatory bodies, including the FRB, the Federal Deposit Insurance Corporation (“FDIC”), the Office of the Comptroller of the Currency (“OCC”), the New York State Department of Financial Services (“the NYSDFS”), and the SEC. |
Principles Of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of the Company, the Bank, ENFS and their subsidiaries. All material inter-company accounts and transactions are eliminated in consolidation. |
Accounting Estimates | Accounting Estimates Management has made a number of estimates and assumptions relating to the reporting of assets and liabilities and disclosure of contingent assets and liabilities in order to prepare these consolidated financial statements in conformity with U.S. generally accepted accounting principles. The estimates and assumptions that management deems to be critical involve our accounting policies relating to the determination of our allowance for loan losses and the valuation of goodwill. These estimates and assumptions are based on management’s best estimates and judgment and management evaluates them on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. We adjust our estimates and assumptions when facts and circumstances dictate. The current economic recession increases the uncertainty inherent in our estimates and assumptions. As future events cannot be determined with precision, actual results could differ significantly from our estimates. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the consolidated financial statements in periods as they occur. |
Cash And Cash Equivalents | Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash and due from banks and interest-bearing deposits at banks. |
Securities | Securities Securities which the Bank has the positive intent and ability to hold to maturity are classified as held to maturity and are stated at cost, adjusted for discounts and premiums that are recognized in interest income over the period to the earlier of the call date or maturity using the level yield method. These securities represent debt issuances of local municipalities in the Bank’s market area for which market prices are not readily available. Management periodically evaluates the financial condition of the municipalities to see if there is any cause for impairment in their bonds. Securities classified as available for sale are stated at fair value with unrealized gains and losses excluded from earnings and reported, net of deferred income taxes, in accumulated other comprehensive income or loss, a component of stockholders’ equity. Gains and losses on sales of securities are computed using the specific identification method. Securities which experience an other-than-temporary decline in fair value are written down to a new cost basis with the amount of the write-down, due to credit problems, included in earnings as a realized loss. The new cost basis is not changed for subsequent recoveries in fair value. Factors which management considers in determining whether an impairment in value of an investment is other than temporary include the period of time the securities were in a loss position, management’s intent and ability to hold securities until fair values recover to amortized cost or if it is considered more likely than not that the Company will have to sell the security, the extent to which fair value is less than amortized cost, the issuer’s financial performance and near term prospects, the financial condition and prospects for the issuer’s geographic region and industry, and recoveries or declines in fair value subsequent to the balance sheet date. There were no charges associated with other-than-temporary impairment declines in fair value of securities in 2016, 2015, or 2014. The Bank does not engage in securities trading activities. |
Loans | Loans Loans that management has the intent and ability to hold for the foreseeable future, or until maturity or pay-off, generally are reported at their outstanding unpaid principal balances adjusted for unamortized deferred fees or costs. Interest income is accrued on the unpaid principal balance and is recognized using the interest method. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield using the effective yield method of accounting for amortizing loans and straight line over an estimated life for lines of credit. Loans become past due when the payment date has been missed. If payment has not been received within 30 days, then the loan is delinquent. Delinquent loans are placed into three categories; 30-59 days past due, 60-89 days past due, or 90+ days past due. Loans 90 or more days past due are considered non-performing. The accrual of interest on loans is discontinued at the time the loan is 90 days delinquent, unless the credit is well secured and in process of collection. If the credit is not well secured and in the process of collection, the loan is placed on non-accrual status and is subject to charge-off if collection of principal or interest is considered doubtful. A loan can also be placed on nonaccrual before it is 90 days delinquent if management determines that it is probable that the Bank will be unable to collect principal or interest due according to the contractual terms of the loan. All interest due but not collected for loans that are placed on non-accrual status or charged off is reversed against interest income. The interest on these loans is accounted for on the cost-recovery method, until it again qualifies for an accrual basis. Any cash receipts on non-accrual loans reduce the carrying value of the loans. Loans are returned to accrual status when all principal and interest amounts contractually due are brought current, the adverse circumstances which resulted in the delinquent payment status are resolved, and payments are made in a timely manner for a period of time sufficient to reasonably assure their future dependability. The Bank considers a loan impaired when, based on current information and events, it is probable that it will be unable to collect principal or interest due according to the contractual terms of the loan. These loans are individually assessed for any impairment. Loan impairment is measured based on the present value of expected cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral, less costs to sell, if the loan is collateral dependent. 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 loan being downgraded on the Company’s 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 nonaccrual loans are either graded a 6 or 7 on the internal loan rating scale. Subsequent to the downgrade, 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. 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 losses: · 1-3-Pass: Risk Rated 1-3 loans are loans with a slight risk of loss. The loan is secured by collateral of sufficient value to cover the loan by an acceptable margin. The financial statements of the company demonstrate sufficient net worth and repayment ability. The company has established an acceptable credit history with the bank and typically has a proven track record of performance. Management is experienced, and has an at least average ability to manage the company. The industry has an average or less than average susceptibility to wide fluctuations in business cycles. · 4-Watch: Although generally acceptable, a higher degree of risk is evident in these watch credits. Obligor assessment factors may have elements which reflect marginally acceptable conditions warranting more careful review and analysis and monitoring. The obligor’s balance sheet reflects generally acceptable asset quality with some elements weak or marginally acceptable. Liquidity may be somewhat strained, but is at an acceptable level to support operations. Obligor may be fully leveraged with ratios higher than industry averages. High leverage is negatively impacting the company, leaving it vulnerable to adverse change. Inconsistent or declining capability to service existing debt requirements evidenced by debt service coverage temporarily below or near acceptable level. The margin of collateral may be adequate, but declining or fluctuating in value. Company management may be unproven, but capable. Rapid expansion or acquisition may increase leverage or reduce cash flow. Negative industry conditions or weaker management could also be characteristic. Proper consideration should be given to companies in a high growth phase or in development business segments that may not have achieved sustainable earnings. Obligors demonstrate sufficient financial flexibility to react to and positively address the root cause of the adverse financial trends without significant deviations from their current business strategy. The rating is also used for borrowers that have made significant progress in resolving their financial weaknesses. · 5-O.A.E.M. (Other Assets Especially Mentioned): Special Mention (“SM”) – A special mention asset has potential weaknesses that warrant management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. SM assets have potential weaknesses that may, if not checked or corrected, weaken the asset or inadequately protect the institution’s position at some future date. These assets pose elevated risk, but their weakness does not yet justify a substandard classification. Borrowers may be experiencing adverse operating trends (declining revenues or margins) or an ill proportioned balance sheet (e.g. increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a special mention rating. Nonfinancial reasons for rating a credit exposure special mention include management problems, pending litigation, an ineffective loan agreement or other material structural weakness, and any other significant deviation from prudent lending practices. The SM rating is designed to identify a specific level of risk and concern about asset quality. Although an SM asset has a higher profitability of default than a pass asset, its default is not imminent. · 6-Substandard: A substandard asset is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Substandard assets have a high probability of payment default, or they have other well-defined weaknesses. They require more intensive supervision by Bank management. Substandard assets are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity, or marginal capitalization. Repayment may depend on collateral or other credit risk subsidies. For some substandard assets, the likelihood of full collection of interest and principal may be in doubt; such assets should be placed on non-accrual. Although substandard assets in the aggregate will have distinct potential for loss, an individual asset’s loss potential does not have to be distinct for the asset to be rated substandard. These loans are periodically reviewed and tested for impairment. · 7-Doubtful: An asset classified doubtful has all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. A doubtful asset has a high probability of total or substantial loss, but because of specific pending events that may strengthen the asset, its classification of loss is deferred. Doubtful borrowers are usually in default, lack adequate liquidity or capital, and lack the resources necessary to remain an operating entity. Pending events can include mergers, acquisitions, liquidations, capital injections, the perfection of liens on additional collateral, the valuation of collateral, and refinancing. Generally, pending events should be resolved within a relatively short period and the ratings will be adjusted based on the new information. Because of high probability of loss, non-accrual accounting treatment is required for doubtful assets. · 8-Loss: Assets classified loss are considered uncollectable and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the assets have absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be affected in the future. With loss assets, the underlying borrowers are often in bankruptcy, have formally suspended debt repayments, or have otherwise ceased normal business operations. Once an asset is classified loss, there is little prospect of collecting either its principal or interest. When access to collateral, rather than the value of the collateral, is a problem, a less severe classification may be appropriate. Losses are to be recorded in the period an obligation becomes uncollectible. 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 since the initial underwriting of the loan and small size of individual loans, the Company does not have credit risk ratings for consumer loans and instead uses delinquency status as the credit quality indicator for consumer loans. However, once a consumer loan is identified as impaired, it is individually evaluated for impairment. |
Allowance For Loan Losses | Allowance for Loan Losses The provision for loan losses represents the amount charged against the Bank’s earnings to maintain an allowance for loan losses inherent in the portfolio based on management’s evaluation of the loan portfolio at the balance sheet date. Factors considered by the Bank’s management in establishing the allowance include: the collectability of individual loans, current loan concentrations, charge-off history, loss emergence period, delinquent loan percentages, the fair value of the collateral, input from regulatory agencies, and general economic conditions. On a quarterly basis, management of the Bank meets to review and determine the adequacy of the allowance for loan losses. In making this determination, the Bank’s management analyzes the ultimate collectability of the loans in its portfolio by incorporating feedback provided by the Bank’s internal loan staff, an independent internal loan review function and information provided by examinations performed by regulatory agencies. The analysis of the allowance for loan losses is composed of two components: specific credit allocation and general portfolio allocation. The specific credit allocation includes a detailed review of each impaired loan and allocation is made based on this analysis. Factors may include the appraisal value of the collateral, the age of the appraisal, the type of collateral, the performance of the loan to date, the performance of the borrower’s business based on financial statements, and legal judgments involving the borrower. The general portfolio allocation consists of an assigned reserve percentage based on the historical loss experience, the loss emergence period, and other qualitative factors of the loan category. The general portfolio allocation is segmented into homogeneous pools of loans with similar characteristics. Separate pools of loans include loans pooled by loan grade and by portfolio segment. An average historical loss rate over the past five years multiplied by the loss emergence period factor is applied against these loans. For both the criticized and non-criticized loan pools in the general portfolio allocation, additional qualitative factors are applied. The qualitative factors applied to the general portfolio allocation reflect management’s evaluation of various conditions. The conditions evaluated include the following: levels and trends in delinquencies, non-accruals, and criticized loans; trends in volume and terms of loans; effects of any changes in lending policies and credit quality underwriting standards; experience, ability, and depth of management; national and economic trends and conditions; changes in the quality of the loan review system; concentrations of credit risk; changes in collateral value; and large loan risk. The total possible qualitative allocation is determined by comparing peer bank historical charge-off rates to the Bank’s historical charge-off rate. The actual qualitative allocation is determined by qualitative factor by loan type based on metrics that management believes are appropriate indicators of whether the Bank is in a low, moderate, or high risk range relative to historical experience for each qualitative factor. |
Foreclosed Real Estate | Foreclosed Real Estate Foreclosed real estate is initially recorded at the lower of carrying or fair value (net of costs of disposal) at the date of foreclosure. Costs relating to development and improvement of property are capitalized, whereas costs relating to the holding of property are expensed. Assessments are periodically performed by management, and an allowance for losses is established through a charge to operations if the carrying value of a property exceeds fair value. The Company held no foreclosed real estate at December 31, 2016 or December 31, 2015. |
Insurance Commissions And Fees | Insurance Commissions and Fees Commission revenue is recognized as of the effective date of the insurance policy or the date the customer is billed, whichever is later. The Company also receives contingent commissions from insurance companies which are based on the overall profitability of their relationship based primarily on the loss experience of the insurance placed by the Company. Contingent commissions from insurance companies are recognized when determinable. |
Goodwill And Other Intangible Assets | Goodwill and Other Intangible Assets The Company accounts for goodwill and other intangible assets in accordance with ASC Topic 350, "Intangibles – Goodwill and Other." The Company records the excess of the cost of acquired entities over the fair value of identifiable tangible and intangible assets acquired, less liabilities assumed, as goodwill. The Company amortizes acquired intangible assets with definite useful economic lives over their useful economic lives utilizing the straight-line method. On a periodic basis, management assesses whether events or changes in circumstances indicate that the carrying amounts of the intangible assets may be impaired. The Company does not amortize goodwill and any acquired intangible asset with an indefinite useful economic life, but reviews them for impairment at a reporting unit level on an annual basis, or when events or changes in circumstances indicate that the carrying amounts may be impaired. A reporting unit is defined as any distinct, separately identifiable component of one of our operating segments for which complete, discrete financial information is available and reviewed regularly by the segment’s management. The only reporting unit with goodwill as of December 31, 2016 was the insurance agency activities reporting unit. The fair value of the insurance agency activities reporting unit is measured annually as of December 31st utilizing the average of a discounted cash flow model and a market value based on a multiple to earnings before interest, taxes, depreciation, and amortization (“EBITDA”) for similar companies. The calculated value of the insurance agency reporting unit was in excess of the carrying amount at December 31, 2016. The Company has performed the required goodwill impairment tests and has determined that goodwill was not impaired as of December 31, 2016. |
Bank-Owned Life Insurance | Bank-Owned Life Insurance The Bank has purchased insurance on the lives of Company directors and certain members of the Bank's and TEA's management. The policies accumulate asset values to meet future liabilities, including the payment of employee benefits, such as retirement benefits. Increases in the cash surrender value are recorded as other income in the Company’s Consolidated Statements of Income. |
Properties And Equipment | Properties and Equipment Properties and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range from 3 to 39 years. Impairment losses on properties and equipment are realized if the carrying amount is not recoverable from its undiscounted cash flows and exceeds its fair value in accordance with ASC Topic 360, “Property, Plant, and Equipment.” |
Income Taxes | Income Taxes Deferred tax assets and liabilities are recognized for the future tax effects attributable to differences between the financial statement value of existing assets and liabilities and their respective tax bases and carryforwards. Deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the periods in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through income tax expense. The Bank has invested in partnerships that incur expenses related to the rehabilitation of a certified historic structure located in New York State. At the time the historic structure is placed in service, the Bank is eligible for a federal and New York State tax credit. At the same time, the Bank evaluates its investment, which is valued at the present value of the expected cash flows from its partnership interest. If the investment is determined to be impaired, the Bank will record that impairment loss on its income statement in non-interest income. The federal tax credit impact is included in the Company’s estimated effective tax rate calculation and recorded in income tax expense. For New York State, any new credit earned from rehabilitated historic properties placed in service on or after January 1, 2015 not used in the current tax year will be treated as a refund or overpayment of tax to be credited to the next year’s tax. Since the realization of the tax credit does not depend on the Bank’s generation of future taxable income or the Bank’s ongoing tax status or tax position, the refund is not considered an element of income tax accounting (ASC 740). In such cases, the Bank would not record the credit as a reduction of income tax expense; rather, the Bank includes the refundable New York State tax credit in non-interest income with a corresponding receivable recorded in other assets. |
Earnings Per Share | Earnings Per Share Earnings per common share is determined by dividing net income by the weighted average number of shares outstanding during the period. Diluted earnings per common share is based on increasing the weighted-average number of shares of common stock by the number of shares of common stock that would be issued assuming the exercise of stock options. Such adjustments to weighted-average number of shares of common stock outstanding are made only when such adjustments are expected to dilute earnings per common share. There were 76,632 , 72,320 , and 77,620 potentially dilutive shares of common stock included in calculating diluted earnings per share for the years ended December 31, 2016, 2015, and 2014, respectively. Potential common shares that would have the effect of increasing diluted earnings per share are considered to be anti-dilutive. In accordance with ASC Topic 260, "Earnings Per Share," these shares were not included in calculating diluted earnings per share. There were no anti-dilutive shares as of December 31, 2016. As of December 31, 2015 and 2014, there were 36 thousand and 9 thousand shares, respectively, that are not included in calculating diluted earnings per share because their effect was anti-dilutive. |
Treasury Stock | Treasury Stock Repurchases of shares of Evans Bancorp, Inc. stock are recorded at cost as a reduction of shareholders’ equity. Reissuances of shares of treasury stock are recorded at market value. |
Comprehensive Income | Comprehensive Income Comprehensive income includes both net income and other comprehensive income, including the change in unrealized gains and losses on securities available for sale, and the change in the liability related to pension costs, net of tax. |
Employee Benefits | Employee Benefits The Bank maintains a non-contributory, qualified, defined benefit pension plan (the “Pension Plan”) that covered substantially all employees before it was frozen on January 31, 2008. All benefits eligible participants had accrued in the Pension Plan until the freeze date have been retained. Employees have not accrued additional benefits in the Pension Plan from that date. The actuarially determined pension benefit in the form of a life annuity is based on the employee’s combined years of service, age and compensation. The Bank’s policy is to fund the minimum amount required by government regulations. Employees are eligible to receive these benefits at normal retirement age. The Bank maintains a defined contribution 401(k) plan and accrues contributions due under this plan as earned by employees. In addition, the Bank maintains a non-qualified Supplemental Executive Retirement Plan for certain members of senior management, a non-qualified Deferred Compensation Plan for directors and certain members of management, and a non-qualified Executive Incentive Retirement Plan for certain members of management, as described more fully in Note 11 to these Consolidated Financial Statements, “Employee Benefits and Deferred Compensation Plans.” |
Stock-Based Compensation | Stock-based Compensation Stock-based compensation expense is recognized over the vesting period of the stock-based grant based on the estimated grant date value of the stock-based compensation that is expected to vest. Information on the determination of the estimated value of stock-based awards used to calculate stock-based compensation expense is included in Note 12 to these Consolidated Financial Statements, “Stock-Based Compensation.” |
Loss Contingencies | Loss Contingencies Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. |
Financial Instruments With Off-Balance Sheet Risk | Financial Instruments with Off-Balance Sheet Risk In the ordinary course of business, the Bank has entered into off-balance sheet financial arrangements consisting of commitments to extend credit and standby letters of credit. The Bank provides guarantees in the form of standby letters of credit, which represent an irrevocable obligation to make payments to a third party if the borrower defaults on its obligation under a borrowing or other contractual arrangement with the third party. The Bank could potentially be required to make payments to the extent of the amount guaranteed by the standby letters of credit based on the terms of the agreement. The maximum potential amount of future payments under standby letters of credit was $3.7 million and $3.8 million as of December 31, 2016 and 2015, respectively. There were no liabilities recorded on the Consolidated Balance Sheets related to standby letters of credit as of December 31, 2016 and 2015, respectively, reflecting management’s assessment of the value of the guarantee given the lack of historical activity and the likelihood of current customers to draw on the letters of credit. The Bank has not incurred any losses on its commitments during the past three years and has not recorded a reserve for its commitments. |
Advertising Costs | Advertising costs Advertising costs are expensed as incurred. |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Securities [Abstract] | |
Schedule Of Amortized Cost And Approximate Fair Value Of Securities | 2016 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 12,958 $ 67 $ (153) $ 12,872 States and political subdivisions 34,952 356 (166) 35,142 Total debt securities $ 47,910 $ 423 $ (319) $ 48,014 Mortgage-backed securities: FNMA $ 14,694 $ 96 $ (230) $ 14,560 FHLMC 3,544 32 (51) 3,525 GNMA 2,535 19 (21) 2,533 CMO 27,127 67 (604) 26,590 Total mortgage-backed securities $ 47,900 $ 214 $ (906) $ 47,208 Total securities designated as available for sale $ 95,810 $ 637 $ (1,225) $ 95,222 Held to Maturity: Debt securities States and political subdivisions $ 1,983 $ 5 $ (29) $ 1,959 Total securities designated as held to maturity $ 1,983 $ 5 $ (29) $ 1,959 2015 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. government agencies $ 21,914 $ 166 $ (234) $ 21,846 States and political subdivisions 36,838 874 (29) 37,683 Total debt securities $ 58,752 $ 1,040 $ (263) $ 59,529 Mortgage-backed securities: FNMA $ 10,314 $ 160 $ (25) $ 10,449 FHLMC 4,629 61 (56) 4,634 GNMA 3,215 48 (27) 3,236 CMO 19,464 66 (237) 19,293 Total mortgage-backed securities $ 37,622 $ 335 $ (345) $ 37,612 Total securities designated as available for sale $ 96,374 $ 1,375 $ (608) $ 97,141 Held to Maturity: Debt securities States and political subdivisions $ 1,617 $ 6 $ (39) $ 1,584 Total securities designated as held to maturity $ 1,617 $ 6 $ (39) $ 1,584 |
Scheduled Maturities Of Debt And Mortgage-Backed Securities | 2016 2015 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 $ 2,869 $ 2,876 $ 4,082 $ 4,142 Due after one year through five years 30,171 30,214 29,113 29,448 Due after five years through ten years 12,166 12,133 19,356 19,615 Due after ten years 2,704 2,791 6,201 6,324 47,910 48,014 58,752 59,529 Mortgage-backed securities available for sale 47,900 47,208 37,622 37,612 Total available for sale securities $ 95,810 $ 95,222 $ 96,374 $ 97,141 Debt securities held to maturity: Due in one year or less $ 780 $ 778 $ 309 $ 308 Due after one year through five years 289 283 374 365 Due after five years through ten years 814 805 828 815 Due after ten years 100 93 106 96 1,983 1,959 1,617 1,584 Total held to maturity securities $ 1,983 $ 1,959 $ 1,617 $ 1,584 |
Unrealized Losses On Securities | 2016 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 $ 6,847 $ (153) $ - $ - $ 6,847 $ (153) States and political subdivisions 16,895 (146) 731 (20) 17,626 (166) Total debt securities $ 23,742 $ (299) $ 731 $ (20) $ 24,473 $ (319) Mortgage-backed securities: FNMA $ 9,577 $ (230) $ - $ - $ 9,577 $ (230) FHLMC 1,728 (8) 988 (43) 2,716 (51) GNMA 1,046 (17) 309 (4) 1,355 (21) CMO 19,745 (569) 1,166 (35) 20,911 (604) Total mortgage-backed securities $ 32,096 $ (824) $ 2,463 $ (82) $ 34,559 $ (906) Held to Maturity: Debt securities: States and political subdivisions $ 863 $ (3) $ 706 $ (26) $ 1,569 $ (29) Total temporarily impaired securities $ 56,701 $ (1,126) $ 3,900 $ (128) $ 60,601 $ (1,254) 2015 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 $ 4,531 $ (89) $ 5,855 $ (145) $ 10,386 $ (234) States and political subdivisions 3,133 (6) 1,117 (23) 4,250 (29) Total debt securities $ 7,664 $ (95) $ 6,972 $ (168) $ 14,636 $ (263) Mortgage-backed securities: FNMA $ 3,856 $ (25) $ - $ - $ 3,856 $ (25) FHLMC - - 1,234 (56) 1,234 (56) GNMA 1,161 (21) 471 (6) 1,632 (27) CMO 8,996 (123) 3,661 (114) 12,657 (237) Total mortgage-backed securities $ 14,013 $ (169) $ 5,366 $ (176) $ 19,379 $ (345) Held to Maturity: Debt securities: States and political subdivisions $ 626 $ (11) $ 495 $ (28) $ 1,121 $ (39) Total temporarily impaired securities $ 22,303 $ (275) $ 12,833 $ (372) $ 35,136 $ (647) |
Loans And The Allowance For L33
Loans And The Allowance For Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Loans And The Allowance For Loan Losses [Abstract] | |
Schedule Of Loan Portfolio Composition | December 31, 2016 December 31, 2015 Mortgage loans on real estate: (in thousands) Residential mortgages $ 118,542 $ 103,941 Commercial and multi-family 462,385 399,819 Construction-Residential 2,540 1,546 Construction-Commercial 93,240 60,892 Home equities 66,234 61,042 Total real estate loans 742,941 627,240 Commercial and industrial loans 197,371 144,330 Consumer and other loans 1,417 1,735 Net deferred loan origination costs 783 679 Total gross loans 942,512 773,984 Allowance for loan losses (13,916) (12,883) Loans, net $ 928,596 $ 761,101 |
Changes In The Allowance For Loan Losses | 2016 2015 2014 (in thousands) Balance, beginning of year $ 12,883 $ 12,533 $ 11,503 Provisions for loan losses 1,209 1,216 1,229 Recoveries 231 181 863 Loans charged-off (407) (1,047) (1,062) Balance, end of year $ 13,916 $ 12,883 $ 12,533 |
Schedule Of Allowance For Loan Losses According To Portfolio Segment | 2016 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer** Residential Mortgages* Home Equities Unallocated Total Allowance for loan losses: Beginning balance $ 4,383 $ 7,135 $ 85 $ 909 $ 371 $ - $ 12,883 Charge-offs (360) - (47) - - - (407) Recoveries 151 59 16 2 3 - 231 Provision (Credit) 639 696 42 (142) (26) - 1,209 Ending balance $ 4,813 $ 7,890 $ 96 $ 769 $ 348 $ - $ 13,916 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 492 $ 1,471 $ 43 $ 1 $ 20 $ - $ 2,027 Collectively evaluated for impairment 4,321 6,419 53 768 328 - 11,889 Total $ 4,813 $ 7,890 $ 96 $ 769 $ 348 $ - $ 13,916 Loans: Ending balance: Individually evaluated for impairment $ 3,148 $ 7,613 $ 43 $ 2,584 $ 1,753 $ - $ 15,141 Collectively evaluated for impairment 194,223 548,012 1,374 118,498 64,481 - 926,588 Total $ 197,371 $ 555,625 $ 1,417 $ 121,082 $ 66,234 $ - $ 941,729 N ote : Loan balances do not include $783 thousand in net deferred loan origination costs as of December 31, 2016. * includes construction loans ** includes other loans 2015 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer** Residential Mortgages* Home Equities Unallocated Total Allowance for loan losses: Beginning balance $ 4,896 $ 5,650 $ 78 $ 941 $ 819 $ 149 $ 12,533 Charge-offs (799) (139) (43) (66) - - (1,047) Recoveries 126 44 9 2 - - 181 Provision (Credit) 160 1,580 41 32 (448) (149) 1,216 Ending balance $ 4,383 $ 7,135 $ 85 $ 909 $ 371 $ - $ 12,883 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 552 $ 1,146 $ 42 $ 2 $ - $ - $ 1,742 Collectively evaluated for impairment 3,831 5,989 43 907 371 - 11,141 Total $ 4,383 $ 7,135 $ 85 $ 909 $ 371 $ - $ 12,883 Loans: Ending balance: Individually evaluated for impairment $ 5,322 $ 9,993 $ 42 $ 2,499 $ 1,644 $ - $ 19,500 Collectively evaluated for impairment 139,008 450,718 1,693 102,988 59,398 - 753,805 Total $ 144,330 $ 460,711 $ 1,735 $ 105,487 $ 61,042 $ - $ 773,305 Note : Loan balances do not include $679 thousand in net deferred loan origination costs as of December 31, 2015. * includes construction loans ** includes other loans |
Data, At Class Level, Of Credit Quality Indicators Of Certain Loans | 2016 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial 1-3 $ 82,520 $ 372,235 $ 454,755 $ 121,414 4 6,541 73,655 80,196 59,117 5 - 12,506 12,506 12,623 6 4,179 3,989 8,168 3,404 7 - - - 813 Total $ 93,240 $ 462,385 $ 555,625 $ 197,371 2015 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial 1-3 $ 42,383 $ 340,837 $ 383,220 $ 80,379 4 13,098 40,019 53,117 47,509 5 1,224 11,772 12,996 8,973 6 4,187 7,191 11,378 7,350 7 - - - 119 Total $ 60,892 $ 399,819 $ 460,711 $ 144,330 |
Recorded Investment In Loans Past Due | 2016 (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 $ 6,772 $ 2,966 $ 1,150 $ 10,888 $ 186,483 $ 197,371 $ - $ 3,106 Residential real estate: Residential 868 123 567 1,558 116,984 118,542 - 862 Construction - - - - 2,540 2,540 - - Commercial real estate: Commercial 6,319 1,522 2,357 10,198 452,187 462,385 483 1,874 Construction 257 - 4,417 4,674 88,566 93,240 239 4,178 Home equities 481 119 679 1,279 64,955 66,234 - 1,261 Consumer and other 15 10 5 30 1,387 1,417 - 17 Total Loans $ 14,712 $ 4,740 $ 9,175 $ 28,627 $ 913,102 $ 941,729 $ 722 $ 11,298 2015 (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 $ 160 $ 224 $ 66 $ 450 $ 143,880 $ 144,330 $ 40 $ 5,312 Residential real estate: Residential 822 402 569 1,793 102,148 103,941 - 1,400 Construction - - - - 1,546 1,546 - - Commercial real estate: Commercial 1,919 963 457 3,339 396,480 399,819 457 3,574 Construction - - - - 60,892 60,892 - 4,187 Home equities 253 236 267 756 60,286 61,042 - 1,058 Consumer and other 8 - - 8 1,727 1,735 - 14 Total Loans $ 3,162 $ 1,825 $ 1,359 $ 6,346 $ 766,959 $ 773,305 $ 497 $ 15,545 |
Data, At Class Level, Of Impaired Loans | At December 31, 2016 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 $ 1,304 $ 1,604 $ - $ 1,455 $ 125 $ 51 Residential real estate: Residential 2,513 2,720 - 2,542 39 78 Construction - - - - - - Commercial real estate: Commercial 2,123 2,168 - 2,181 33 89 Construction 257 257 - 404 2 28 Home equities 1,559 1,621 - 1,606 51 30 Consumer and other - - - - - - Total impaired loans $ 7,756 $ 8,370 $ - $ 8,188 $ 250 $ 276 At December 31, 2016 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 $ 1,844 $ 1,913 $ 492 $ 1,898 $ 62 $ 53 Residential real estate: Residential 71 72 1 72 2 1 Construction - - - - - - Commercial real estate: Commercial 1,054 1,083 296 1,062 50 - Construction 4,179 4,201 1,175 4,180 194 - Home equities 194 206 20 195 9 1 Consumer and other 43 68 43 45 3 3 Total impaired loans $ 7,385 $ 7,543 $ 2,027 $ 7,452 $ 320 $ 58 At December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 3,148 $ 3,517 $ 492 $ 3,353 $ 187 $ 104 Residential real estate: Residential 2,584 2,792 1 2,614 41 79 Construction - - - - - - Commercial real estate: Commercial 3,177 3,251 296 3,243 83 89 Construction 4,436 4,458 1,175 4,584 196 28 Home equities 1,753 1,827 20 1,801 60 31 Consumer and other 43 68 43 45 3 3 Total impaired loans $ 15,141 $ 15,913 $ 2,027 $ 15,640 $ 570 $ 334 At December 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 $ 1,750 $ 1,811 $ - $ 1,945 $ 58 $ 47 Residential real estate: Residential 2,444 2,555 - 2,474 90 63 Construction - - - - - - Commercial real estate: Commercial 3,888 3,908 - 3,930 27 179 Construction 834 834 - 834 - 31 Home equities 1,644 1,711 - 1,661 40 52 Consumer and other - - - - - - Total impaired loans $ 10,560 $ 10,819 $ - $ 10,844 $ 215 $ 372 At December 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 $ 3,572 $ 3,835 $ 552 $ 3,966 $ 255 $ 9 Residential real estate: Residential 55 55 2 55 1 2 Construction - - - - - - Commercial real estate: Commercial 1,083 1,083 235 1,083 4 42 Construction 4,188 4,201 911 4,188 29 166 Home equities - - - - - - Consumer and other 42 57 42 45 2 6 Total impaired loans $ 8,940 $ 9,231 $ 1,742 $ 9,337 $ 291 $ 225 At December 31, 2015 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Foregone Interest Income Recognized Total: (in thousands) Commercial and industrial $ 5,322 $ 5,646 $ 552 $ 5,911 $ 313 $ 56 Residential real estate: Residential 2,499 2,610 2 2,529 91 65 Construction - - - - - - Commercial real estate: Commercial 4,971 4,991 235 5,013 31 221 Construction 5,022 5,035 911 5,022 29 197 Home equities 1,644 1,711 - 1,661 40 52 Consumer and other 42 57 42 45 2 6 Total impaired loans $ 19,500 $ 20,050 $ 1,742 $ 20,181 $ 506 $ 597 |
Loans Classified As Troubled Debt Restructurings | The following table presents the Company’s TDR loans as of December 31, 2016, and 2015, respectively: December 31, 2016 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 574 $ 532 $ 42 $ 147 Residential real estate: Residential 1,949 227 1,722 - Construction - - - - Commercial real estate: Commercial and multi-family 1,617 313 1,304 - Construction 257 - 257 - Home equities 667 175 492 1 Consumer and other loans 26 - 26 26 Total troubled restructured loans $ 5,090 $ 1,247 $ 3,843 $ 174 December 31, 2015 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 517 $ 508 $ 9 $ 165 Residential real estate: Residential 1,789 689 1,100 - Construction - - - - Commercial real estate: Commercial and multi-family 1,732 334 1,398 - Construction 834 - 834 - Home equities 867 281 586 - Consumer and other loans 28 - 28 28 Total troubled restructured loans $ 5,767 $ 1,812 $ 3,955 $ 193 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 prevailing market rates given the risk profile of the borrower. The following tables show the data for TDR activity by type of concession granted to the borrower during 2016 and 2015: Year ended December 31, 2016 Year ended December 31, 2015 (Recorded Investment in thousands) (Recorded Investment 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 Extension of maturity 2 121 121 - - - Term-out line of credit 1 20 20 - - - Residential Real Estate & Construction: Extension of maturity 1 95 95 - - - Extension of maturity and interest rate reduction 1 109 109 - - - Commercial Real Estate & Construction - - - - - - Home Equities: - - - - - - Combination of concessions - - - 2 166 166 Consumer and other loans - - - - - - Modifications made to loans in a troubled debt restructuring did not have a material impact on the Company’s net income for the years ended December 31, 2016 and 2015. All of the C&I and commercial real estate TDRs were already considered impaired and sufficiently reserved for prior to being identified as a TDR. At December 31, 2016, there were no commitments to lend additional funds to debtors owing loans or leases whose terms have been modified in TDRs. The general practice of the Bank is to work with borrowers so that they are able to repay 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 to its collateral value. A loan is considered in default when the loan or lease is 90 days past due or is charged-off. The following table presents loans which were classified as TDRs during the preceding twelve months and which subsequently defaulted during the twelve month periods ended December 31, 2016 and 2015, respectively: Year ended December 31, 2016 Year ended December 31, 2015 (Recorded Investment in thousands) (Recorded Investment in thousands) Troubled Debt Restructurings Number of Recorded Number of Recorded That Subsequently Defaulted Contracts Investment Contracts Investment Commercial and industrial - - - - Residential real estate - - - - Commercial real estate - - - - Home equities - - 1 $ 66 Consumer and other loans - - - - |
Properties And Equipment (Table
Properties And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Properties And Equipment [Abstract] | |
Schedule Of Properties And Equipment | 2016 2015 (in thousands) Land $ 268 $ 268 Buildings and improvements 13,032 12,867 Construction in progress - 271 Furniture, fixtures, and equipment 15,022 13,444 28,322 26,850 Less accumulated depreciation (17,012) (15,799) Properties and equipment, net $ 11,310 $ 11,051 |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other Assets [Abstract] | |
Schedule Of Other Assets | 2016 2015 (in thousands) Net deferred tax asset $ 7,310 $ 6,857 Accrued interest receivable 3,243 2,682 State historic tax credit receivable 2,117 - Prepaid expenses 980 817 Mortgage servicing rights 527 557 Historic tax credit investments 454 - Other 2,212 2,801 Total other assets $ 16,843 $ 13,714 |
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets [Abstract] | |
Schedule Of Intangible Assets | 2016 Gross Carrying Amount Accumulated Amortization Net Weighted Avg Amortization Period (in thousands) Insurance expirations $ 305 $ - $ 305 5 years |
Schedule Of Expected Amortization Expense | Year Ending December 31 Amount (in thousands) 2017 $ 61 2018 61 2019 61 2020 61 2021 61 $ 305 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Deposits [Abstract] | |
Schedule Of Maturities Of Time Deposits | (in thousands) 2017 $ 60,854 2018 37,611 2019 13,749 2020 17,994 2021 10,741 $ 140,949 |
Borrowed Funds And Junior Sub38
Borrowed Funds And Junior Subordinated Debentures (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Borrowed Funds And Junior Subordinated Debentures [Abstract] | |
Schedule Of Amounts And Interest Rates Of Other Borrowed Funds | FHLB Overnight Line of Credit FHLB Advances Total Other Borrowings (in thousands) At December 31, 2016 Amount outstanding $ 18,200 $ 10,000 $ 28,200 Weighted-average interest rate 0.74 % 1.73 % 1.09 % For the year ended December 31, 2016 Highest amount at a month end $ 49,100 $ 10,000 Daily average amount outstanding $ 16,011 $ 10,000 $ 26,011 Weighted-average interest rate 0.61 % 1.73 % 1.05 % At December 31, 2015 Amount outstanding $ - $ 10,000 $ 10,000 Weighted-average interest rate - % 1.73 % 1.73 % For the year ended December 31, 2015 Highest amount at a month end $ 17,700 $ 10,000 Daily average amount outstanding $ 2,504 $ 7,151 $ 9,655 Weighted-average interest rate 0.33 % 1.79 % 1.41 % At December 31, 2014 Amount outstanding $ 13,700 $ - $ 13,700 Weighted-average interest rate 0.32 % - % 0.32 % For the year ended December 31, 2014 Highest amount at a month end $ 13,700 $ 9,000 Daily average amount outstanding $ 3,938 $ 5,000 $ 8,938 Weighted-average interest rate 0.25 % 3.54 % 2.09 % |
Comprehensive Income (Loss) (Ta
Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Comprehensive Income (Loss) [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | Balance at December 31, 2015 Net Change Balance at December 31, 2016 (in thousands) Net unrealized gain (loss) on investment securities $ 475 $ (840) $ (365) Net defined benefit pension plan adjustments (2,285) 226 (2,059) Total $ (1,810) $ (614) $ (2,424) Balance at December 31, 2014 Net Change Balance at December 31, 2015 (in thousands) Net unrealized gain (loss) on investment securities $ 911 $ (436) $ 475 Net defined benefit pension plan adjustments (2,419) 134 (2,285) Total $ (1,508) $ (302) $ (1,810) Balance at December 31, 2013 Net Change Balance at December 31, 2014 (in thousands) Net unrealized gain on investment securities $ 191 $ 720 $ 911 Net defined benefit pension plan adjustments (1,454) (965) (2,419) Total $ (1,263) $ (245) $ (1,508) |
Components Of Other Comprehensive Income (Loss) | December 31, 2016 (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized gain (loss) on investment securities $ (1,355) $ 515 $ (840) Defined benefit pension plans adjustments: Net actuarial gain (loss) $ 110 $ (42) $ 68 Reclassifications from accumulated other comprehensive income for gains (losses) Amortization of prior service cost (a) 31 (12) 19 Amortization of actuarial loss (a) 221 (82) 139 Net change 362 (136) 226 Other Comprehensive Income (Loss) $ (993) $ 379 $ (614) (a) Included in net periodic pension cost as described in Note 11 – “Employee Benefits and Deferred Compensation Plans” December 31, 2015 (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized (loss) gain on investment securities $ (719) $ 283 $ (436) Defined benefit pension plans adjustments: Net actuarial gain (loss) $ 5 $ (15) $ (10) Reclassifications from accumulated other comprehensive income for gains (losses) Amortization of prior service cost (a) 31 (12) 19 Amortization of actuarial loss (a) 201 (76) 125 Net change 237 (103) 134 Other Comprehensive Income (Loss) $ (482) $ 180 $ (302) (a) Included in net periodic pension cost as described in Note 11 – “Employee Benefits and Deferred Compensation Plans ” December 31, 2014 (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized gain (loss) on investment securities $ 1,173 $ (453) $ 720 Defined benefit pension plans adjustments: Net actuarial gain (loss) $ (1,710) $ 662 $ (1,048) Reclassifications from accumulated other comprehensive income for gains (losses) Amortization of prior service cost (a) 31 (12) 19 Amortization of actuarial loss (a) 105 (41) 64 Net change (1,574) 609 (965) Other Comprehensive Income (Loss) $ (401) $ 156 $ (245) Included in net periodic pension cost as described in Note 11 – “Employee Benefits and Deferred Compensation Plans” |
Employee Benefits And Deferre40
Employee Benefits And Deferred Compensation Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Pension Plans [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule Of Defined Benefit Plans Disclosures | 12/31/2016 12/31/2015 Change in benefit obligation: (in thousands) Benefit obligation at the beginning of the year $ 5,384 $ 5,437 Service cost - - Interest cost 221 205 Assumption change 97 (61) Actuarial (gain) loss 11 (4) Benefits paid (189) (193) Benefit obligation at the end of the year 5,524 5,384 Change in plan assets: Fair value of plan assets at the beginning of year 4,067 4,201 Actual return on plan assets 248 (106) Employer contributions 140 165 Benefits paid (189) (193) Fair value of plan assets at the end of year 4,266 4,067 Funded status $ (1,258) $ (1,317) Amount recognized in the Consolidated Balance Sheets consist of: Accrued benefit liabilities $ (1,258) $ (1,317) Amount recognized in the Accumulated Other Comprehensive Loss consists of: Net actuarial loss $ 2,429 $ 2,390 Prior service cost - - Net amount recognized in equity - pre-tax $ 2,429 $ 2,390 Net amount recognized on Consolidated Balance Sheets in Other Liabilities $ 1,171 $ 1,073 Accumulated benefit obligation at year end $ 5,524 $ 5,384 |
Schedule Of Assumptions Used | 2016 2015 2014 Discount rate for projected benefit obligation 3.95 % 4.17 % 3.83 % Discount rate for net periodic pension cost 4.17 % 3.83 % 4.78 % Rate of increase in compensation levels - % - % - % Expected long-term rate of return of plan assets 6.50 % 7.50 % 7.50 % |
Schedule Of Net Periodic Cost | 2016 2015 2014 (in thousands) Service cost $ - $ - $ - Interest cost 221 205 206 Expected return on plan assets (263) (308) (307) Net amortization and deferral 85 71 22 Net periodic benefit cost $ 43 $ (32) $ (79) |
Schedule Of Target Plan Asset Allocations | Asset Category: 2016 2015 Equity mutual funds 67.97 % 73.51 % Fixed income mutual funds 30.20 % 18.64 % Cash/Short-term investments 1.83 % 7.85 % 100.00 % 100.00 % |
Schedule of Allocation Of Plan Assets | 2016 2015 (in thousands) Level 1: Cash $ - $ 44 Mutual funds: Short-term investments: Money market 78 275 Fixed Income: 1,288 394 Equities: Small cap 307 375 Large cap 1,008 - Real estate 101 234 International large cap 923 757 International small cap 201 - Emerging markets 254 388 Currency - 177 Commodity 106 35 Bank loans - 187 Exchange -traded funds (ETFs): Large cap - 844 Mid cap - 357 $ 4,266 $ 4,067 |
Schedule Of Expected Benefit Payments | (in thousands) 2017 $ 202 2018 212 2019 211 2020 210 2021 225 Year 2022 - 2026 1,540 |
Supplemental Executive Retirement Plans [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule Of Defined Benefit Plans Disclosures | 12/31/2016 12/31/2015 Change in benefit obligation: (in thousands) Benefit obligation at the beginning of the year $ 4,349 $ 4,555 Service cost 188 194 Interest cost 144 146 Actuarial (gain) loss (234) (354) Benefits paid (192) (192) Benefit obligation at the end of the year 4,255 4,349 Change in plan assets: Fair value of plan assets at the beginning of year - - Actual return on plan assets - - Employer contributions 192 192 Benefits paid (192) (192) Fair value of plan assets at the end of year - - Funded status $ (4,255) $ (4,349) Amount recognized in the Consolidated Balance Sheets consist of: Accrued benefit liabilities $ (4,255) $ (4,349) Amount recognized in the Accumulated Other Comprehensive Loss consists of: Net actuarial loss $ 747 $ 1,117 Prior service cost 187 218 Net amount recognized in equity - pre-tax $ 934 $ 1,335 Net amount recognized on Consolidated Balance Sheets in Other Liabilities $ (3,321) $ (3,014) Accumulated benefit obligation at year end $ 3,902 $ 3,876 |
Schedule Of Assumptions Used | 2016 2015 2014 Discount rate for projected benefit obligation 3.30 % 3.38 % 3.30 % Discount rate for net periodic pension cost 3.38 % 3.30 % 4.15 % Salary scale 3.00 % 3.50 % 3.50 % |
Schedule Of Net Periodic Cost | 2016 2015 2014 (in thousands) Service cost $ 188 $ 194 $ 168 Interest cost 144 146 159 Net amortization and deferral 167 161 115 Net periodic benefit cost $ 499 $ 501 $ 442 |
Schedule Of Expected Benefit Payments | (in thousands) 2017 $ 193 2018 193 2019 1,848 2020 193 2021 277 Year 2022 - 2026 1,410 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Stock Options Valuation Assumptions | 2016 2015 2014 Dividend Yield 2.88 % 2.93 % 2.70 % Expected Life (years) 6.77 6.36 6.36 Expected Volatility 17.25 % 19.62 % 20.76 % Risk-free Interest Rate 1.78 % 1.90 % 2.11 % Weighted Average Fair Value $ 3.05 $ 3.49 $ 3.64 |
Schedule Of Stock Options Activity | Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Balance, December 31, 2015 214,295 $ 17.30 Granted 49,550 25.00 Exercised (6,050) 16.60 Expired (645) 22.93 Forfeited (5,448) 24.49 Balance, December 31, 2016 251,702 $ 18.66 5.75 $ 3,229 Exercisable, December 31, 2016 164,390 $ 15.73 4.27 $ 2,585 |
Schedule Of Restricted Stock Award Activity | Shares Weighted Average Grant Date Fair Value Balance, December 31, 2015 33,690 $ 21.98 Granted 22,308 24.89 Vested (14,629) 22.09 Forfeited (2,201) 24.41 Balance, December 31, 2016 39,168 $ 23.68 |
Schedule Of Activity Under Share Based Compensation Plans | 2016 2015 2014 (in thousands) Total intrinsic value of stock options exercised $ 92 $ 409 $ 287 Total fair value of restricted stock awards vested $ 349 $ 287 $ 273 |
Schedule Of Employee Stock Purchase Plan Valuation Assumptions | 2016 2015 2014 Dividend Yield 2.93 % 3.01 % 2.95 % Expected Life (years) 0.50 0.50 0.50 Expected Volatility 22.97 % 16.47 % 22.41 % Risk-free Interest Rate 0.43 % 0.19 % 0.08 % Weighted Average Fair Value $ 7.71 $ 6.92 $ 6.56 |
Stock Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Unrecognized Compensation Cost | (in thousands) 2017 $ 86 2018 70 2019 41 2020 7 |
Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule Of Unrecognized Compensation Cost | (in thousands) 2017 $ 270 2018 211 2019 124 2020 22 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Taxes [Abstract] | |
Schedule Of Components Of Income Tax Provision (Benefit) | 2016 2015 2014 (in thousands) Current federal tax expense $ 1,990 $ 2,784 $ 2,282 Current state tax expense (benefit) 4 3 (118) Total current tax expense 1,994 2,787 2,164 Deferred federal tax expense (benefit) $ (405) $ 435 $ (215) Deferred state tax expense (benefit) 334 545 (1,245) Total deferred tax expense (benefit) (71) 980 (1,460) Total income tax provision $ 1,923 $ 3,767 $ 704 |
Schedule Of Effective Income Tax Rate Reconciliation | 2016 2015 2014 Amount Percent Amount Percent Amount Percent (in thousands) Tax provision at statutory rate $ 3,466 34 % $ 3,947 34 % $ 3,023 34 % Change in taxes resulting from: Tax-exempt income (522) (5) (617) (5) (558) (6) Historic tax credit (1,413) (14) - - (996) (11) State taxes, net of federal benefit 236 2 362 3 (899) (10) Other items, net 156 2 75 - 134 1 Income tax provision $ 1,923 19 % $ 3,767 32 % $ 704 8 % |
Schedule Of Deferred Tax Assets And Liabilities | 2016 2015 (in thousands) Deferred tax assets: Pension premiums $ 2,094 $ 2,148 Allowance for loan and lease losses 5,222 4,826 Non accrued interest 34 - Deferred compensation 950 956 Litigation accrual 61 204 Loss on investment in tax credit 636 452 Stock options granted 169 134 Net operating loss carryforward - 62 Historic tax credit carryforward 786 980 Leases 157 156 Net unrealized losses on securities 224 - Gross deferred tax assets $ 10,333 $ 9,918 Deferred tax liabilities: Depreciation and amortization $ 2,071 $ 1,806 Prepaid expenses 476 459 Net unrealized gains on securities - 291 Mortgage servicing asset 200 212 Gross deferred tax liabilities $ 2,747 $ 2,768 Valuation allowance (276) (293) Net deferred tax asset $ 7,310 $ 6,857 |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other Liabilities [Abstract] | |
Schedule Of Other Liabilities | 2016 2015 (in thousands) Retirement compensation liabilities $ 8,012 $ 7,986 Accounts payable 3,432 2,803 Historic tax credit investment 2,320 911 Interest payable 233 160 Other 301 858 Total other liabilities $ 14,298 $ 12,718 |
Contingent Liabilities And Co44
Contingent Liabilities And Commitments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Contingent Liabilities And Commitments [Abstract] | |
Summary Of Commitments And Contingent Liabilities | December 31, December 31, 2016 2015 (in thousands) Commitments to extend credit $ 217,581 $ 206,346 Standby letters of credit 3,736 3,794 Total $ 221,317 $ 210,140 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Information [Abstract] | |
Schedule Of Business Segments | 2016 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 35,371 $ (123) $ 35,248 Provision for loan losses 1,209 - 1,209 Net interest income (expense) after provision for loan losses 34,162 (123) 34,039 Non-interest income 4,733 - 4,733 Insurance service and fees 400 6,119 6,519 Non-interest expense 30,438 4,658 35,096 Income before income taxes 8,857 1,338 10,195 Income tax provision 1,408 515 1,923 Net income $ 7,449 $ 823 $ 8,272 2015 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 31,921 $ (117) $ 31,804 Provision for loan losses 1,216 - 1,216 Net interest income (expense) after provision for loan losses 30,705 (117) 30,588 Non-interest income 6,526 - 6,526 Insurance service and fees 672 6,522 7,194 Non-interest expense 28,103 4,595 32,698 Income before income taxes 9,800 1,810 11,610 Income tax provision 3,071 696 3,767 Net income $ 6,729 $ 1,114 $ 7,843 2014 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 31,214 $ (115) $ 31,099 Provision for loan losses 1,229 - 1,229 Net interest income (expense) after provision for loan losses 29,985 (115) 29,870 Non-interest income 3,142 - 3,142 Insurance service and fees 591 6,540 7,131 Amortization expense - 108 108 Non-interest expense 26,875 4,269 31,144 Income before income taxes 6,843 2,048 8,891 Income tax provision (benefit) (85) 789 704 Net income $ 6,928 $ 1,259 $ 8,187 |
Schedule Of Identifiable Assets, Net | December 31, December 31, 2016 2015 (in thousands) Identifiable Assets, Net Banking activities $ 1,091,291 $ 929,998 Insurance agency activities 9,418 9,109 Consolidated Total Assets $ 1,100,709 $ 939,107 |
Fair Value Of Financial Instr46
Fair Value Of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Of Financial Instruments [Abstract] | |
Financial Instruments Measured At Fair Value On Recurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value December 31, 2016 Securities available-for-sale: U.S. government agencies $ - $ 12,872 $ - $ 12,872 States and political subdivisions - 35,142 - 35,142 Mortgage-backed securities - 47,208 - 47,208 Mortgage servicing rights - - 527 527 December 31, 2015 Securities available-for-sale: U.S. government agencies $ - $ 21,846 $ - $ 21,846 States and political subdivisions - 37,683 - 37,683 Mortgage-backed securities - 37,612 - 37,612 Mortgage servicing rights - - 557 557 |
Changes In Fair Value For Mortgage Servicing Rights | (in thousands) 2016 2015 2014 Mortgage servicing rights - January 1 $ 557 $ 518 $ 509 Losses included in earnings (123) (93) (134) Additions from loan sales 93 132 143 Mortgage servicing rights - December 31 $ 527 $ 557 $ 518 |
Quantitative Information About Significant Unobservable Inputs For MSRs | December 31, 2016 December 31, 2015 Servicing fees 0.25 % 0.25 % Discount rate 9.52 % 9.52 % Prepayment rate (CPR) 8.12 % 8.55 % |
Financial Instruments Measured At Fair Value On Nonrecurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value December 31, 2016 Collateral dependent impaired loans $ - - 13,114 $ 13,114 December 31, 2015 Collateral dependent impaired loans $ - - 17,758 $ 17,758 |
Estimated Fair Values Of Financial Instruments | December 31, 2016 December 31, 2015 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 13,084 $ 13,084 $ 22,621 $ 22,621 Level 2: Available for sale securities 95,222 95,222 97,141 97,141 FHLB and FRB stock 3,731 3,731 2,783 2,783 Level 3: Held to maturity securities 1,983 1,959 1,617 1,584 Loans, net 928,596 945,998 761,101 772,472 Mortgage servicing rights 527 527 557 557 Financial liabilities: Level 1: Demand deposits $ 201,741 $ 201,741 $ 183,098 $ 183,098 NOW deposits 88,632 88,632 83,674 83,674 Regular savings deposits 508,652 508,652 439,993 439,993 Level 2: Securities sold under agreement to repurchase 10,159 10,159 10,821 10,821 Other borrowed funds 28,200 28,152 10,000 9,874 Junior subordinated debentures 11,330 11,330 11,330 11,330 Level 3: Time deposits 140,949 141,758 96,217 96,975 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Regulatory Matters [Abstract] | |
Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations | December 31, 2016 (in thousands) Company Bank Minimum for Capital Adequacy Purposes Minimum to be Well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio Common Equity Tier I (to Risk Weighted Assets) $ 102,925 10.82 % $ 100,336 10.56 % $ 42,818 4.5 % $ 61,848 6.5 % Total Capital (to Risk Weighted Assets) $ 114,846 12.07 % $ 112,244 11.81 % $ 76,121 8.0 % $ 95,151 10.0 % Tier I Capital (to Risk Weighted Assets) $ 102,925 10.82 % $ 100,336 10.56 % $ 57,091 6.0 % $ 76,121 8.0 % Tier I Capital (to Average Assets) $ 102,925 9.49 % $ 100,336 9.25 % $ 43,395 4.0 % $ 54,244 5.0 % |
Parent Company Only Financial48
Parent Company Only Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Parent Company Only Financial Information [Abstract] | |
Condensed Balance Sheets | December 31, 2016 2015 (in thousands) ASSETS Cash $ 240 $ 1,030 Other assets 961 1,411 Investment in subsidiaries 108,069 103,309 Total assets $ 109,270 $ 105,750 LIABILITIES AND STOCKHOLDERS’ EQUITY LIABILITIES: Junior subordinated debentures $ 11,330 $ 11,330 Other liabilities 1,192 3,164 Total liabilities 12,522 14,494 STOCKHOLDERS’ EQUITY Total Stockholders’ Equity $ 96,748 $ 91,256 Total liabilities and stockholders’ equity $ 109,270 $ 105,750 |
Condensed Statements Of Income | December 31, 2016 2015 2014 (in thousands) Dividends from subsidiaries $ 5,300 $ 2,000 $ 7,000 Expenses (1,477) (1,387) (1,363) Income before equity in undistributed earnings of subsidiaries 3,823 613 5,637 Equity in undistributed earnings of subsidiaries 4,449 7,230 2,550 Net income 8,272 7,843 8,187 Other comprehensive income - - - Comprehensive income $ 8,272 $ 7,843 $ 8,187 |
Condensed Statements Of Cash FLows | Year Ended 2016 2015 2014 (in thousands) Operating Activities: Net income $ 8,272 $ 7,843 $ 8,187 Adjustments to reconcile net income to net cash provided by operating activities: Undistributed earnings of subsidiaries (4,449) (7,230) (2,550) Changes in assets and liabilities affecting cash flow: Other assets 371 (267) (89) Other liabilities (1,972) 191 1,563 Net cash provided by operating activities 2,222 537 7,111 Investing Activities: Investment in subsidiaries (250) - - Net cash used in investing activities (250) - - Financing Activities: Proceeds from issuance of common stock 316 - - Cash dividends paid (2,998) (2,765) (2,471) Purchase of Treasury stock (80) - (1,436) Net cash used in financing activities (2,762) (2,765) (3,907) Net increase (decrease) in cash (790) (2,228) 3,204 Cash beginning of year 1,030 3,258 54 Cash ending of year $ 240 $ 1,030 $ 3,258 |
Selected Quarterly Financial 49
Selected Quarterly Financial Data - Unaudited (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Selected Quarterly Financial Data [Abstract] | |
Schedule Of Selected Quarterly Financial Information | 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter (in thousands, except for per share data) 2016 Interest Income $ 10,664 $ 10,241 $ 9,694 $ 9,356 Interest Expense 1,261 1,172 1,178 1,096 Net Interest Income 9,403 9,069 8,516 8,260 Net Income 2,339 2,216 2,003 1,714 Earnings per share basic 0.54 0.52 0.47 0.40 Earnings per share diluted 0.53 0.51 0.46 0.40 2015 Interest Income $ 9,437 $ 9,099 $ 8,636 $ 8,456 Interest Expense 1,001 960 988 875 Net Interest Income 8,436 8,139 7,648 7,581 Net Income 1,754 2,509 1,675 1,905 Earnings per share basic 0.41 0.59 0.40 0.45 Earnings per share diluted 0.41 0.58 0.39 0.44 |
Organization And Summary Of S50
Organization And Summary Of Significant Accounting Policies (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2016USD ($)segmententityshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | |
Number of subsidiaries | entity | 2 | ||
Foreclosed real estate | $ 0 | $ 0 | |
Other-than-temporary impairment charges | $ 0 | 0 | $ 0 |
Number of reporting units with goodwill | segment | 1 | ||
Goodwill impairment | $ 0 | $ 0 | |
Potentially dilutive shares of common stock | shares | 76,632 | 72,320 | 77,620 |
Shares excluded from calculation of diluted earnings per share | shares | 0 | 36,000 | 9,000 |
Standby Letters Of Credit [Member] | |||
Maximum potential amount of future payments | $ 3,700,000 | $ 3,800,000 | |
Guaranty liabilities | $ 0 | $ 0 | |
Minimum [Member] | |||
Properties and equipment estimated useful life | 3 years | ||
Maximum [Member] | |||
Properties and equipment estimated useful life | 39 years |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Available for sale securities pledged as collateral | $ 87 | $ 86 | |
Realized gains (losses) on sales of securities | 0 | 0 | $ 0 |
Impairment charges | $ 0 | $ 0 | $ 0 |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost And Approximate Fair Value Of Securities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | $ 95,810 | $ 96,374 |
Available for Sale, Unrealized Gains | 637 | 1,375 |
Available for Sale, Unrealized Losses | (1,225) | (608) |
Available for Sale, Fair Value | 95,222 | 97,141 |
Held to Maturity, Amortized Cost | 1,983 | 1,617 |
Held to Maturity, Unrealized Gains | 5 | 6 |
Held to Maturity, Unrealized Losses | (29) | (39) |
Held to Maturity, Fair Value | 1,959 | 1,584 |
States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Held to Maturity, Amortized Cost | 1,983 | 1,617 |
Held to Maturity, Unrealized Gains | 5 | 6 |
Held to Maturity, Unrealized Losses | (29) | (39) |
Held to Maturity, Fair Value | 1,959 | 1,584 |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 12,958 | 21,914 |
Available for Sale, Unrealized Gains | 67 | 166 |
Available for Sale, Unrealized Losses | (153) | (234) |
Available for Sale, Fair Value | 12,872 | 21,846 |
States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 34,952 | 36,838 |
Available for Sale, Unrealized Gains | 356 | 874 |
Available for Sale, Unrealized Losses | (166) | (29) |
Available for Sale, Fair Value | 35,142 | 37,683 |
Total Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 47,910 | 58,752 |
Available for Sale, Unrealized Gains | 423 | 1,040 |
Available for Sale, Unrealized Losses | (319) | (263) |
Available for Sale, Fair Value | 48,014 | 59,529 |
FNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 14,694 | 10,314 |
Available for Sale, Unrealized Gains | 96 | 160 |
Available for Sale, Unrealized Losses | (230) | (25) |
Available for Sale, Fair Value | 14,560 | 10,449 |
FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 3,544 | 4,629 |
Available for Sale, Unrealized Gains | 32 | 61 |
Available for Sale, Unrealized Losses | (51) | (56) |
Available for Sale, Fair Value | 3,525 | 4,634 |
GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 2,535 | 3,215 |
Available for Sale, Unrealized Gains | 19 | 48 |
Available for Sale, Unrealized Losses | (21) | (27) |
Available for Sale, Fair Value | 2,533 | 3,236 |
CMO [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 27,127 | 19,464 |
Available for Sale, Unrealized Gains | 67 | 66 |
Available for Sale, Unrealized Losses | (604) | (237) |
Available for Sale, Fair Value | 26,590 | 19,293 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 47,900 | 37,622 |
Available for Sale, Unrealized Gains | 214 | 335 |
Available for Sale, Unrealized Losses | (906) | (345) |
Available for Sale, Fair Value | $ 47,208 | $ 37,612 |
Securities (Scheduled Maturitie
Securities (Scheduled Maturities Of Debt And Mortgage-Backed Securities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Securities [Abstract] | ||
Debt securities available for sale, Due in one year or less, Amortized cost | $ 2,869 | $ 4,082 |
Debt securities available for sale, Due after one year through five years, Amortized cost | 30,171 | 29,113 |
Debt securities available for sale, Due after five years through ten years, Amortized cost | 12,166 | 19,356 |
Debt securities available for sale, Due after ten years, Amortized cost | 2,704 | 6,201 |
Debt securities available for sale, Amortized cost | 47,910 | 58,752 |
Mortgage-backed securities available for sale, Amortized cost | 47,900 | 37,622 |
Available for Sale, Amortized Cost | 95,810 | 96,374 |
Debt securities available for sale, Due in one year or less, Estimated fair value | 2,876 | 4,142 |
Debt securities available for sale, Due after one year through five years, Estimated fair value | 30,214 | 29,448 |
Debt securities available for sale, Due after five years through ten years, Estimated fair value | 12,133 | 19,615 |
Debt securities available for sale, Due after ten years, Estimated fair value | 2,791 | 6,324 |
Debt securities available for sale, Estimated fair value | 48,014 | 59,529 |
Mortgage-backed securities available for sale, Estimated fair value | 47,208 | 37,612 |
Available for Sale, Estimated Fair Value | 95,222 | 97,141 |
Debt securities held to maturity, Due in one year or less, Amortized cost | 780 | 309 |
Debt securities held to maturity, Due after one year through five years, Amortized cost | 289 | 374 |
Debt securities held to maturity, Due after five years through ten years, Amortized cost | 814 | 828 |
Debt securities held to maturity, Due after ten years, Amortized cost | 100 | 106 |
Held to Maturity, Amortized Cost | 1,983 | 1,617 |
Debt securities held to maturity, Due in one year or less, Estimated fair value | 778 | 308 |
Debt securites held to maturity, Due after one year through five years, Estimated fair value | 283 | 365 |
Debt securites held to maturity, Due after five years through ten years, Estimated fair value | 805 | 815 |
Debt securities held to maturity, Due after ten years, Estimated fair value | 93 | 96 |
Held to Maturity, Estimated Fair Value | $ 1,959 | $ 1,584 |
Securities (Unrealized Losses O
Securities (Unrealized Losses On Securities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired securities, Less than 12 months, Fair Value | $ 56,701 | $ 22,303 |
Total temporarily impaired securities, 12 months or longer, Fair Value | 3,900 | 12,833 |
Total temporarily impaired securities, Total, Fair Value | 60,601 | 35,136 |
Total temporarily impaired securities, Less than 12 months, Unrealized Losses | (1,126) | (275) |
Total temporarily impaired securities, 12 months or longer, Unrealized Losses | (128) | (372) |
Total temporarily impaired securities, Total, Unrealized Losses | (1,254) | (647) |
States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Held To Maturity, Less than 12 months, Fair Value | 863 | 626 |
Held To Maturity, 12 months or longer, Fair Value | 706 | 495 |
Held To Maturity, Total, Fair Value | 1,569 | 1,121 |
Held To Maturity, Less than 12 months, Unrealized Losses | (3) | (11) |
Held To Maturity, 12 months or longer, Unrealized Losses | (26) | (28) |
Held To Maturity, Total, Unrealized Losses | (29) | (39) |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 6,847 | 4,531 |
Available for Sale, 12 months or longer, Fair Value | 5,855 | |
Available for Sale, Total, Fair Value | 6,847 | 10,386 |
Available for Sale, Less than 12 months, Unrealized Losses | (153) | (89) |
Available for Sale, 12 months or longer, Unrealized Losses | (145) | |
Available for Sale, Total, Unrealized Losses | (153) | (234) |
States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 16,895 | 3,133 |
Available for Sale, 12 months or longer, Fair Value | 731 | 1,117 |
Available for Sale, Total, Fair Value | 17,626 | 4,250 |
Available for Sale, Less than 12 months, Unrealized Losses | (146) | (6) |
Available for Sale, 12 months or longer, Unrealized Losses | (20) | (23) |
Available for Sale, Total, Unrealized Losses | (166) | (29) |
Total Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 23,742 | 7,664 |
Available for Sale, 12 months or longer, Fair Value | 731 | 6,972 |
Available for Sale, Total, Fair Value | 24,473 | 14,636 |
Available for Sale, Less than 12 months, Unrealized Losses | (299) | (95) |
Available for Sale, 12 months or longer, Unrealized Losses | (20) | (168) |
Available for Sale, Total, Unrealized Losses | (319) | (263) |
FNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 9,577 | 3,856 |
Available for Sale, Total, Fair Value | 9,577 | 3,856 |
Available for Sale, Less than 12 months, Unrealized Losses | (230) | (25) |
Available for Sale, Total, Unrealized Losses | (230) | (25) |
FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 1,728 | |
Available for Sale, 12 months or longer, Fair Value | 988 | 1,234 |
Available for Sale, Total, Fair Value | 2,716 | 1,234 |
Available for Sale, Less than 12 months, Unrealized Losses | (8) | |
Available for Sale, 12 months or longer, Unrealized Losses | (43) | (56) |
Available for Sale, Total, Unrealized Losses | (51) | (56) |
GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 1,046 | 1,161 |
Available for Sale, 12 months or longer, Fair Value | 309 | 471 |
Available for Sale, Total, Fair Value | 1,355 | 1,632 |
Available for Sale, Less than 12 months, Unrealized Losses | (17) | (21) |
Available for Sale, 12 months or longer, Unrealized Losses | (4) | (6) |
Available for Sale, Total, Unrealized Losses | (21) | (27) |
CMO [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 19,745 | 8,996 |
Available for Sale, 12 months or longer, Fair Value | 1,166 | 3,661 |
Available for Sale, Total, Fair Value | 20,911 | 12,657 |
Available for Sale, Less than 12 months, Unrealized Losses | (569) | (123) |
Available for Sale, 12 months or longer, Unrealized Losses | (35) | (114) |
Available for Sale, Total, Unrealized Losses | (604) | (237) |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 32,096 | 14,013 |
Available for Sale, 12 months or longer, Fair Value | 2,463 | 5,366 |
Available for Sale, Total, Fair Value | 34,559 | 19,379 |
Available for Sale, Less than 12 months, Unrealized Losses | (824) | (169) |
Available for Sale, 12 months or longer, Unrealized Losses | (82) | (176) |
Available for Sale, Total, Unrealized Losses | $ (906) | $ (345) |
Loans And The Allowance For L55
Loans And The Allowance For Loan Losses (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gain on loans sold to FNMA | $ 93 | $ 133 | $ 203 |
Overdrawn deposit accounts classified as loans | $ 100 | 200 | |
Minimum percentage of loans reviewed annually | 40.00% | ||
Impaired loans with no related allowance recorded | $ 7,756 | 10,560 | |
Loan commitments to lend additional funds to debtors | 0 | ||
Loans restructured in troubled debt restructurings | $ 5,090 | 5,767 | |
Period of timely payments before reversion to accruing status | 6 months | ||
Nonaccruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan commitments to lend additional funds to debtors | $ 0 | 0 | |
Loans restructured in troubled debt restructurings | 1,247 | 1,812 | |
Commercial And Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans with no related allowance recorded | 1,304 | 1,750 | |
Loans restructured in troubled debt restructurings | 574 | 517 | |
Commercial And Industrial [Member] | Nonaccruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans restructured in troubled debt restructurings | 532 | 508 | |
Consumer And Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Overdrawn deposit accounts classified as loans | 100 | 200 | |
Impaired loans with no related allowance recorded | |||
Loans restructured in troubled debt restructurings | 26 | 28 | |
Consumer And Other [Member] | Nonaccruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans restructured in troubled debt restructurings | |||
Total Real Estate Loans [Member] | Residential Real Estate [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Maximum amount of loan as percentage of appraised value | 80.00% | ||
Unpaid principal balance | $ 75,700 | 77,300 | |
Mortgage servicing rights | 500 | 600 | |
Mortgage loans held-for-sale | 300 | 500 | |
Impaired loans with no related allowance recorded | 2,513 | 2,444 | |
Loans restructured in troubled debt restructurings | 1,949 | 1,789 | |
Total Real Estate Loans [Member] | Residential Real Estate [Member] | Mortgages [Member] | Nonaccruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans restructured in troubled debt restructurings | 227 | 689 | |
Total Real Estate Loans [Member] | Residential Real Estate [Member] | FNMA Loans [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Mortgages sold to FNMA | 9,700 | 14,300 | |
Total Real Estate Loans [Member] | Commercial Real Estate [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired loans with no related allowance recorded | 2,123 | 3,888 | |
Loans restructured in troubled debt restructurings | 1,617 | 1,732 | |
Total Real Estate Loans [Member] | Commercial Real Estate [Member] | Mortgages [Member] | Nonaccruing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans restructured in troubled debt restructurings | 313 | $ 334 | |
Total Real Estate Loans [Member] | FHLBNY [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans pledged as collateral | $ 207,000 | ||
Minimum [Member] | Commercial And Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Variable rate repricing, period | 3 years | ||
Minimum [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan amortization period | 10 years | ||
Minimum [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Mortgage loans mature or subject to a rate call, period | 3 years | ||
Maximum [Member] | Commercial And Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan amortization period | 5 years | ||
Variable rate repricing, period | 5 years | ||
Maximum [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan amortization period | 30 years | ||
Maximum [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loan amortization period | 20 years | ||
Mortgage loans mature or subject to a rate call, period | 5 years |
Loans And The Allowance For L56
Loans And The Allowance For Loan Losses (Schedule Of Loan Portfolio Composition) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | $ 941,729 | $ 773,305 | |
Net deferred loan origination costs | 783 | 679 | |
Total gross loans | 942,512 | 773,984 | |
Allowance for loan losses | (13,916) | (12,883) | |
Loans, net | 928,596 | 761,101 | |
Commercial And Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 197,371 | 144,330 | |
Consumer And Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | [1] | 1,417 | 1,735 |
Total Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 742,941 | 627,240 | |
Total Real Estate Loans [Member] | Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | [2] | 121,082 | 105,487 |
Total Real Estate Loans [Member] | Residential Real Estate [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 118,542 | 103,941 | |
Total Real Estate Loans [Member] | Residential Real Estate [Member] | Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 2,540 | 1,546 | |
Total Real Estate Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | [2] | 555,625 | 460,711 |
Total Real Estate Loans [Member] | Commercial Real Estate [Member] | Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 462,385 | 399,819 | |
Total Real Estate Loans [Member] | Commercial Real Estate [Member] | Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | 93,240 | 60,892 | |
Total Real Estate Loans [Member] | Home Equities [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans before deferred loan origination costs | $ 66,234 | $ 61,042 | |
[1] | includes other loans | ||
[2] | includes construction loans |
Loans And The Allowance For L57
Loans And The Allowance For Loan Losses (Changes In Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Loans And The Allowance For Loan Losses [Abstract] | |||
Allowance for loan losses: Beginning balance | $ 12,883 | $ 12,533 | $ 11,503 |
Allowance for loan losses: Provisions for loan losses | 1,209 | 1,216 | 1,229 |
Allowance for loan losses: Recoveries | 231 | 181 | 863 |
Allowance for loan losses: Loans charged-off | (407) | (1,047) | (1,062) |
Allowance for loan losses: Ending balance | $ 13,916 | $ 12,883 | $ 12,533 |
Loans And The Allowance For L58
Loans And The Allowance For Loan Losses (Schedule Of Allowance For Loan Losses According To Portfolio Segment) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses: Beginning balance | $ 12,883 | $ 12,533 | $ 11,503 | |||
Allowance for loan losses: Loans charged-off | (407) | (1,047) | (1,062) | |||
Allowance for loan losses: Recoveries | 231 | 181 | 863 | |||
Allowance for loan losses: Provisions for loan losses | 1,209 | 1,216 | 1,229 | |||
Allowance for loan losses: Ending balance | 13,916 | 12,883 | 12,533 | |||
Allowance for loan losses: Individually evaluated for impairment | $ 2,027 | $ 1,742 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 11,889 | 11,141 | ||||
Allowance for loan losses: Total | 12,883 | 12,533 | 11,503 | 13,916 | 12,883 | |
Loans: Individually evaluated for impairment | 15,141 | 19,500 | ||||
Loans: Collectively evaluated for impairment | 926,588 | 753,805 | ||||
Total Balance | 941,729 | 773,305 | ||||
Net deferred loan origination costs | 783 | 679 | ||||
Total Real Estate Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total Balance | 742,941 | 627,240 | ||||
Commercial And Industrial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses: Beginning balance | 4,383 | 4,896 | ||||
Allowance for loan losses: Loans charged-off | (360) | (799) | ||||
Allowance for loan losses: Recoveries | 151 | 126 | ||||
Allowance for loan losses: Provisions for loan losses | 639 | 160 | ||||
Allowance for loan losses: Ending balance | 4,813 | 4,383 | 4,896 | |||
Allowance for loan losses: Individually evaluated for impairment | 492 | 552 | ||||
Allowance for loan losses: Collectively evaluated for impairment | 4,321 | 3,831 | ||||
Allowance for loan losses: Total | 4,383 | 4,896 | 4,896 | 4,813 | 4,383 | |
Loans: Individually evaluated for impairment | 3,148 | 5,322 | ||||
Loans: Collectively evaluated for impairment | 194,223 | 139,008 | ||||
Total Balance | 197,371 | 144,330 | ||||
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses: Beginning balance | [1] | 7,135 | 5,650 | |||
Allowance for loan losses: Loans charged-off | [1] | (139) | ||||
Allowance for loan losses: Recoveries | [1] | 59 | 44 | |||
Allowance for loan losses: Provisions for loan losses | [1] | 696 | 1,580 | |||
Allowance for loan losses: Ending balance | [1] | 7,890 | 7,135 | 5,650 | ||
Allowance for loan losses: Individually evaluated for impairment | [1] | 1,471 | 1,146 | |||
Allowance for loan losses: Collectively evaluated for impairment | [1] | 6,419 | 5,989 | |||
Allowance for loan losses: Total | [1] | 7,135 | 5,650 | 5,650 | 7,890 | 7,135 |
Loans: Individually evaluated for impairment | [1] | 7,613 | 9,993 | |||
Loans: Collectively evaluated for impairment | [1] | 548,012 | 450,718 | |||
Total Balance | [1] | 555,625 | 460,711 | |||
Consumer And Other [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses: Beginning balance | [2] | 85 | 78 | |||
Allowance for loan losses: Loans charged-off | [2] | (47) | (43) | |||
Allowance for loan losses: Recoveries | [2] | 16 | 9 | |||
Allowance for loan losses: Provisions for loan losses | [2] | 42 | 41 | |||
Allowance for loan losses: Ending balance | [2] | 96 | 85 | 78 | ||
Allowance for loan losses: Individually evaluated for impairment | [2] | 43 | 42 | |||
Allowance for loan losses: Collectively evaluated for impairment | [2] | 53 | 43 | |||
Allowance for loan losses: Total | [2] | 85 | 78 | 78 | 96 | 85 |
Loans: Individually evaluated for impairment | [2] | 43 | 42 | |||
Loans: Collectively evaluated for impairment | [2] | 1,374 | 1,693 | |||
Total Balance | [2] | 1,417 | 1,735 | |||
Residential Real Estate [Member] | Total Real Estate Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses: Beginning balance | [1] | 909 | 941 | |||
Allowance for loan losses: Loans charged-off | [1] | (66) | ||||
Allowance for loan losses: Recoveries | [1] | 2 | 2 | |||
Allowance for loan losses: Provisions for loan losses | [1] | (142) | 32 | |||
Allowance for loan losses: Ending balance | [1] | 769 | 909 | 941 | ||
Allowance for loan losses: Individually evaluated for impairment | [1] | 1 | 2 | |||
Allowance for loan losses: Collectively evaluated for impairment | [1] | 768 | 907 | |||
Allowance for loan losses: Total | [1] | 909 | 941 | 941 | 769 | 909 |
Loans: Individually evaluated for impairment | [1] | 2,584 | 2,499 | |||
Loans: Collectively evaluated for impairment | [1] | 118,498 | 102,988 | |||
Total Balance | [1] | 121,082 | 105,487 | |||
Home Equities [Member] | Total Real Estate Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses: Beginning balance | 371 | 819 | ||||
Allowance for loan losses: Loans charged-off | ||||||
Allowance for loan losses: Recoveries | 3 | |||||
Allowance for loan losses: Provisions for loan losses | (26) | (448) | ||||
Allowance for loan losses: Ending balance | 348 | 371 | 819 | |||
Allowance for loan losses: Individually evaluated for impairment | 20 | |||||
Allowance for loan losses: Collectively evaluated for impairment | 328 | 371 | ||||
Allowance for loan losses: Total | 371 | 819 | 819 | 348 | 371 | |
Loans: Individually evaluated for impairment | 1,753 | 1,644 | ||||
Loans: Collectively evaluated for impairment | 64,481 | 59,398 | ||||
Total Balance | 66,234 | 61,042 | ||||
Unallocated [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses: Beginning balance | 149 | |||||
Allowance for loan losses: Loans charged-off | ||||||
Allowance for loan losses: Recoveries | ||||||
Allowance for loan losses: Provisions for loan losses | (149) | |||||
Allowance for loan losses: Ending balance | 149 | |||||
Allowance for loan losses: Individually evaluated for impairment | ||||||
Allowance for loan losses: Collectively evaluated for impairment | ||||||
Allowance for loan losses: Total | $ 149 | $ 149 | ||||
Loans: Individually evaluated for impairment | ||||||
Loans: Collectively evaluated for impairment | ||||||
Total Balance | ||||||
[1] | includes construction loans | |||||
[2] | includes other loans |
Loans And The Allowance For L59
Loans And The Allowance For Loan Losses (Data, At Class Level, Of Credit Quality Indicators Of Certain Loans) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | $ 941,729 | $ 773,305 | |
Total Real Estate Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 742,941 | 627,240 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | [1] | 555,625 | 460,711 |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating 1-3 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 454,755 | 383,220 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 80,196 | 53,117 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating 5 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 12,506 | 12,996 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating 6 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 8,168 | 11,378 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | |||
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 93,240 | 60,892 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating 1-3 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 82,520 | 42,383 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 6,541 | 13,098 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating 5 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 1,224 | ||
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating 6 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 4,179 | 4,187 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | |||
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 462,385 | 399,819 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating 1-3 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 372,235 | 340,837 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 73,655 | 40,019 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating 5 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 12,506 | 11,772 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating 6 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 3,989 | 7,191 | |
Commercial Real Estate [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | |||
Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 197,371 | 144,330 | |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating 1-3 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 121,414 | 80,379 | |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 59,117 | 47,509 | |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating 5 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 12,623 | 8,973 | |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating 6 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | 3,404 | 7,350 | |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total gross loans | $ 813 | $ 119 | |
[1] | includes construction loans |
Loans And The Allowance For L60
Loans And The Allowance For Loan Losses (Recorded Investment In Loans Past Due) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | $ 28,627 | $ 6,346 | |
Current Balance | 913,102 | 766,959 | |
Total Balance | 941,729 | 773,305 | |
90+ Days Accruing | 722 | 497 | |
Non-accruing Loans | 11,298 | 15,545 | |
Net deferred loan origination costs | 783 | 679 | |
30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 14,712 | 3,162 | |
60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 4,740 | 1,825 | |
90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 9,175 | 1,359 | |
Commercial And Industrial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 10,888 | 450 | |
Current Balance | 186,483 | 143,880 | |
Total Balance | 197,371 | 144,330 | |
90+ Days Accruing | 40 | ||
Non-accruing Loans | 3,106 | 5,312 | |
Commercial And Industrial [Member] | 30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 6,772 | 160 | |
Commercial And Industrial [Member] | 60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 2,966 | 224 | |
Commercial And Industrial [Member] | 90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 1,150 | 66 | |
Consumer And Other [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 30 | 8 | |
Current Balance | 1,387 | 1,727 | |
Total Balance | [1] | 1,417 | 1,735 |
90+ Days Accruing | |||
Non-accruing Loans | 17 | 14 | |
Consumer And Other [Member] | 30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 15 | 8 | |
Consumer And Other [Member] | 60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 10 | ||
Consumer And Other [Member] | 90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 5 | ||
Total Real Estate Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Balance | 742,941 | 627,240 | |
Total Real Estate Loans [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Balance | [2] | 121,082 | 105,487 |
Total Real Estate Loans [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Balance | [2] | 555,625 | 460,711 |
Total Real Estate Loans [Member] | Home Equities [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 1,279 | 756 | |
Current Balance | 64,955 | 60,286 | |
Total Balance | 66,234 | 61,042 | |
90+ Days Accruing | |||
Non-accruing Loans | 1,261 | 1,058 | |
Total Real Estate Loans [Member] | Home Equities [Member] | 30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 481 | 253 | |
Total Real Estate Loans [Member] | Home Equities [Member] | 60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 119 | 236 | |
Total Real Estate Loans [Member] | Home Equities [Member] | 90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 679 | 267 | |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 1,558 | 1,793 | |
Current Balance | 116,984 | 102,148 | |
Total Balance | 118,542 | 103,941 | |
90+ Days Accruing | |||
Non-accruing Loans | 862 | 1,400 | |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | 30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 868 | 822 | |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | 60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 123 | 402 | |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | 90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 567 | 569 | |
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 10,198 | 3,339 | |
Current Balance | 452,187 | 396,480 | |
Total Balance | 462,385 | 399,819 | |
90+ Days Accruing | 483 | 457 | |
Non-accruing Loans | 1,874 | 3,574 | |
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | 30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 6,319 | 1,919 | |
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | 60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 1,522 | 963 | |
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | 90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 2,357 | 457 | |
Construction [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Current Balance | 2,540 | 1,546 | |
Total Balance | 2,540 | 1,546 | |
90+ Days Accruing | |||
Non-accruing Loans | |||
Construction [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | 30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Construction [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | 60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Construction [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | 90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 4,674 | ||
Current Balance | 88,566 | 60,892 | |
Total Balance | 93,240 | 60,892 | |
90+ Days Accruing | 239 | ||
Non-accruing Loans | 4,178 | 4,187 | |
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | 30-59 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | 257 | ||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | 60-89 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | |||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | 90+ Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total Past Due | $ 4,417 | ||
[1] | includes other loans | ||
[2] | includes construction loans |
Loans And The Allowance For L61
Loans And The Allowance For Loan Losses (Data, At Class Level, Of Impaired Loans) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | $ 7,756 | $ 10,560 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 7,385 | 8,940 |
Impaired Loans, Recorded Investment, Total | 15,141 | 19,500 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 8,370 | 10,819 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 7,543 | 9,231 |
Impaired Loans, Unpaid Principal Balance, Total | 15,913 | 20,050 |
Impaired Loans, Related Allowance | 2,027 | 1,742 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 8,188 | 10,844 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 7,452 | 9,337 |
Impaired Loans, Average Recorded Investment, Total | 15,640 | 20,181 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 250 | 215 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 320 | 291 |
Impaired Loans, Interest Income Foregone, Total | 570 | 506 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 276 | 372 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 58 | 225 |
Impaired Loans, Interest Income Recognized, Total | 334 | 597 |
Commercial And Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 1,304 | 1,750 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 1,844 | 3,572 |
Impaired Loans, Recorded Investment, Total | 3,148 | 5,322 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 1,604 | 1,811 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 1,913 | 3,835 |
Impaired Loans, Unpaid Principal Balance, Total | 3,517 | 5,646 |
Impaired Loans, Related Allowance | 492 | 552 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 1,455 | 1,945 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 1,898 | 3,966 |
Impaired Loans, Average Recorded Investment, Total | 3,353 | 5,911 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 125 | 58 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 62 | 255 |
Impaired Loans, Interest Income Foregone, Total | 187 | 313 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 51 | 47 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 53 | 9 |
Impaired Loans, Interest Income Recognized, Total | 104 | 56 |
Consumer And Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | ||
Impaired Loans, Recorded Investment, With a related allowance recorded | 43 | 42 |
Impaired Loans, Recorded Investment, Total | 43 | 42 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 68 | 57 |
Impaired Loans, Unpaid Principal Balance, Total | 68 | 57 |
Impaired Loans, Related Allowance | 43 | 42 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | ||
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 45 | 45 |
Impaired Loans, Average Recorded Investment, Total | 45 | 45 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | ||
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 3 | 2 |
Impaired Loans, Interest Income Foregone, Total | 3 | 2 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | ||
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 3 | 6 |
Impaired Loans, Interest Income Recognized, Total | 3 | 6 |
Total Real Estate Loans [Member] | Residential Real Estate [Member] | Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 2,513 | 2,444 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 71 | 55 |
Impaired Loans, Recorded Investment, Total | 2,584 | 2,499 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 2,720 | 2,555 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 72 | 55 |
Impaired Loans, Unpaid Principal Balance, Total | 2,792 | 2,610 |
Impaired Loans, Related Allowance | 1 | 2 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 2,542 | 2,474 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 72 | 55 |
Impaired Loans, Average Recorded Investment, Total | 2,614 | 2,529 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 39 | 90 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 2 | 1 |
Impaired Loans, Interest Income Foregone, Total | 41 | 91 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 78 | 63 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 1 | 2 |
Impaired Loans, Interest Income Recognized, Total | 79 | 65 |
Total Real Estate Loans [Member] | Residential Real Estate [Member] | Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | ||
Impaired Loans, Recorded Investment, With a related allowance recorded | ||
Impaired Loans, Recorded Investment, Total | ||
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | ||
Impaired Loans, Unpaid Principal Balance, Total | ||
Impaired Loans, Related Allowance | ||
Impaired Loans, Average Recorded Investment, With no related allowance recorded | ||
Impaired Loans, Average Recorded Investment, With a related allowance recorded | ||
Impaired Loans, Average Recorded Investment, Total | ||
Impaired Loans, Interest Income Foregone, With no related allowance recorded | ||
Impaired Loans, Interest Income Foregone, With a related allowance recorded | ||
Impaired Loans, Interest Income Foregone, Total | ||
Impaired Loans, Interest Income Recognized, With no related allowance recorded | ||
Impaired Loans, Interest Income Recognized, With a related allowance recorded | ||
Impaired Loans, Interest Income Recognized, Total | ||
Total Real Estate Loans [Member] | Commercial Real Estate [Member] | Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 2,123 | 3,888 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 1,054 | 1,083 |
Impaired Loans, Recorded Investment, Total | 3,177 | 4,971 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 2,168 | 3,908 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 1,083 | 1,083 |
Impaired Loans, Unpaid Principal Balance, Total | 3,251 | 4,991 |
Impaired Loans, Related Allowance | 296 | 235 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 2,181 | 3,930 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 1,062 | 1,083 |
Impaired Loans, Average Recorded Investment, Total | 3,243 | 5,013 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 33 | 27 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 50 | 4 |
Impaired Loans, Interest Income Foregone, Total | 83 | 31 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 89 | 179 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 42 | |
Impaired Loans, Interest Income Recognized, Total | 89 | 221 |
Total Real Estate Loans [Member] | Commercial Real Estate [Member] | Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 257 | 834 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 4,179 | 4,188 |
Impaired Loans, Recorded Investment, Total | 4,436 | 5,022 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 257 | 834 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 4,201 | 4,201 |
Impaired Loans, Unpaid Principal Balance, Total | 4,458 | 5,035 |
Impaired Loans, Related Allowance | 1,175 | 911 |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 404 | 834 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 4,180 | 4,188 |
Impaired Loans, Average Recorded Investment, Total | 4,584 | 5,022 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 2 | |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 194 | 29 |
Impaired Loans, Interest Income Foregone, Total | 196 | 29 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 28 | 31 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 166 | |
Impaired Loans, Interest Income Recognized, Total | 28 | 197 |
Total Real Estate Loans [Member] | Home Equities [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired Loans, Recorded Investment, With no related allowance recorded | 1,559 | 1,644 |
Impaired Loans, Recorded Investment, With a related allowance recorded | 194 | |
Impaired Loans, Recorded Investment, Total | 1,753 | 1,644 |
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 1,621 | 1,711 |
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 206 | |
Impaired Loans, Unpaid Principal Balance, Total | 1,827 | 1,711 |
Impaired Loans, Related Allowance | 20 | |
Impaired Loans, Average Recorded Investment, With no related allowance recorded | 1,606 | 1,661 |
Impaired Loans, Average Recorded Investment, With a related allowance recorded | 195 | |
Impaired Loans, Average Recorded Investment, Total | 1,801 | 1,661 |
Impaired Loans, Interest Income Foregone, With no related allowance recorded | 51 | 40 |
Impaired Loans, Interest Income Foregone, With a related allowance recorded | 9 | |
Impaired Loans, Interest Income Foregone, Total | 60 | 40 |
Impaired Loans, Interest Income Recognized, With no related allowance recorded | 30 | 52 |
Impaired Loans, Interest Income Recognized, With a related allowance recorded | 1 | |
Impaired Loans, Interest Income Recognized, Total | $ 31 | $ 52 |
Loans And The Allowance For L62
Loans And The Allowance For Loan Losses (Loans Classified As Troubled Debt Restructurings) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Modifications [Line Items] | ||
Total | $ 5,090 | $ 5,767 |
Related Allowance | 174 | 193 |
Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 574 | 517 |
Related Allowance | 147 | 165 |
Consumer And Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 26 | 28 |
Related Allowance | 26 | 28 |
Nonaccruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,247 | 1,812 |
Nonaccruing [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 532 | 508 |
Nonaccruing [Member] | Consumer And Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 3,843 | 3,955 |
Accruing [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 42 | 9 |
Accruing [Member] | Consumer And Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 26 | 28 |
Total Real Estate Loans [Member] | Home Equities [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 667 | 867 |
Related Allowance | 1 | |
Total Real Estate Loans [Member] | Nonaccruing [Member] | Home Equities [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 175 | 281 |
Total Real Estate Loans [Member] | Accruing [Member] | Home Equities [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 492 | 586 |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,949 | 1,789 |
Related Allowance | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,617 | 1,732 |
Related Allowance | ||
Mortgages [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 227 | 689 |
Mortgages [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 313 | 334 |
Mortgages [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,722 | 1,100 |
Mortgages [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,304 | 1,398 |
Construction [Member] | Total Real Estate Loans [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Related Allowance | ||
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 257 | 834 |
Related Allowance | ||
Construction [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Construction [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Construction [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | ||
Construction [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | $ 257 | $ 834 |
Loans And The Allowance For L63
Loans And The Allowance For Loan Losses (TDR Activity By Type Of Concession Granted To Borrower) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)contract | Dec. 31, 2015USD ($)contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | ||
Pre-Modification Outstanding Recorded Investment | ||
Post-Modification Outstanding Recorded Investment | ||
Commercial And Industrial [Member] | Deferral Of Principal [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 541 | |
Post-Modification Outstanding Recorded Investment | $ 541 | |
Commercial And Industrial [Member] | Extension Of Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 121 | |
Post-Modification Outstanding Recorded Investment | $ 121 | |
Commercial And Industrial [Member] | Term-Out Line Of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 20 | |
Post-Modification Outstanding Recorded Investment | $ 20 | |
Residential Real Estate [Member] | Extension Of Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 95 | |
Post-Modification Outstanding Recorded Investment | $ 95 | |
Residential Real Estate [Member] | Extension Of Maturity And Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 109 | |
Post-Modification Outstanding Recorded Investment | $ 109 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | ||
Pre-Modification Outstanding Recorded Investment | ||
Post-Modification Outstanding Recorded Investment | ||
Home Equities [Member] | Total Real Estate Loans [Member] | Combination Of Concessions [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 166 | |
Post-Modification Outstanding Recorded Investment | $ 166 | |
Consumer And Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | contract | ||
Pre-Modification Outstanding Recorded Investment | ||
Post-Modification Outstanding Recorded Investment |
Loans And The Allowance For L64
Loans And The Allowance For Loan Losses (Loans Classified As TDRs Which Defaulted) (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)contract | Dec. 31, 2015USD ($)contract | |
Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | contract | ||
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | ||
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | contract | ||
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | ||
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | contract | ||
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | ||
Home Equities [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | contract | 1 | |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ | $ 66 | |
Consumer And Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings That Subsequently Defaulted, Number of Contracts | contract | ||
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $ |
Properties And Equipment (Sched
Properties And Equipment (Schedule Of Properties And Equipment) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Properties and equipment, gross | $ 28,322 | $ 26,850 | |
Less accumulated depreciation | (17,012) | (15,799) | |
Properties and equipment, net | 11,310 | 11,051 | |
Depreciation expense | 1,200 | 1,000 | $ 1,100 |
Land [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Properties and equipment, gross | 268 | 268 | |
Buildings And Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Properties and equipment, gross | 13,032 | 12,867 | |
Construction In Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Properties and equipment, gross | 271 | ||
Furniture, Fixtures and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Properties and equipment, gross | $ 15,022 | $ 13,444 |
Other Assets (Schedule Of Other
Other Assets (Schedule Of Other Assets) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Other Assets [Abstract] | ||
Net deferred tax asset | $ 7,310 | $ 6,857 |
Accrued interest receivable | 3,243 | 2,682 |
State historic tax credit receivable | 2,117 | |
Prepaid expenses | 980 | 817 |
Mortgage servicing rights | 527 | 557 |
Historic tax credit investments | 454 | |
Other | 2,212 | 2,801 |
Total other assets | $ 16,843 | $ 13,714 |
Goodwill And Intangible Asset67
Goodwill And Intangible Assets (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill and Intangible Assets [Abstract] | |||
Goodwill | $ 8,406,000 | $ 8,101,000 | |
Goodwill impairment | $ 0 | $ 0 | |
Amortization expense related to intangibles | $ 108,000 |
Goodwill And Intangible Asset68
Goodwill And Intangible Assets (Schedule Of Intangible Assets) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Finite-Lived Intangible Assets [Line Items] | |
Net | $ 305 |
Insurance Expirations [Member] | A.M. Smiith Group, Inc. [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Gross Carrying Amount | 305 |
Accumulated Amortization | |
Net | $ 305 |
Weighted Average Amortization Period | 5 years |
Goodwill And Intangible Asset69
Goodwill And Intangible Assets (Schedule Of Expected Amortization Expense) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Goodwill and Intangible Assets [Abstract] | |
2,017 | $ 61 |
2,018 | 61 |
2,019 | 61 |
2,020 | 61 |
2,021 | 61 |
Net | $ 305 |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Regulatory Matters [Abstract] | ||
Time deposits, $100,000 or More | $ 70.2 | $ 40.1 |
Overdrawn deposit accounts classified as loans | 0.1 | 0.2 |
Brokered time deposits | $ 1.2 | $ 1.2 |
Deposits (Schedule Of Maturitie
Deposits (Schedule Of Maturities Of Time Deposits) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Regulatory Matters [Abstract] | |
2,017 | $ 60,854 |
2,018 | 37,611 |
2,019 | 13,749 |
2,020 | 17,994 |
2,021 | 10,741 |
Time deposits maturities, Total | $ 140,949 |
Borrowed Funds And Junior Sub72
Borrowed Funds And Junior Subordinated Debentures (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | |||
Borrowing amount | $ 28,200 | $ 10,000 | $ 13,700 |
FHLBNY stock, carrying value | 2,185 | 1,296 | |
Junior subordinated debentures | $ 11,330 | 11,330 | |
Junior Subordinated Debentures [Member] | |||
Debt Instrument [Line Items] | |||
Debt maturity date | Oct. 1, 2037 | ||
Debt interest rate | 3.59% | ||
Junior Subordinated Debentures [Member] | Capital Securities [Member] | |||
Debt Instrument [Line Items] | |||
Debt issuance date | Oct. 1, 2004 | ||
Debt maturity date | Nov. 23, 2034 | ||
Debt interest rate | 3.59% | ||
Junior subordinated debentures | $ 11,000 | ||
Junior Subordinated Debentures [Member] | Common Stock [Member] | |||
Debt Instrument [Line Items] | |||
Junior subordinated debentures | 330 | ||
FHLB Advances [Member] | |||
Debt Instrument [Line Items] | |||
Borrowing amount | $ 10,000 | 10,000 | |
FHLB advances fixed interest rate | 1.73% | ||
FHLB advances maturity year | 2,020 | ||
FHLB advances available | $ 199,000 | ||
FHLB Overnight Line of Credit [Member] | |||
Debt Instrument [Line Items] | |||
Borrowing amount | 18,200 | $ 13,700 | |
FHLB advances available | $ 18,000 | ||
LIBOR [Member] | Junior Subordinated Debentures [Member] | Capital Securities [Member] | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 2.65% |
Borrowed Funds And Junior Sub73
Borrowed Funds And Junior Subordinated Debentures (Schedule Of Amounts And Interest Rates Of Other Borrowed Funds) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Short-term Debt [Line Items] | |||
Amount outstanding | $ 28,200 | $ 10,000 | $ 13,700 |
Weighted-average interest rate | 1.09% | 1.73% | 0.32% |
Daily average amount outstanding | $ 26,011 | $ 9,655 | $ 8,938 |
Weighted-average interest rate | 1.05% | 1.41% | 2.09% |
FHLB Overnight Line of Credit [Member] | |||
Short-term Debt [Line Items] | |||
Amount outstanding | $ 18,200 | $ 13,700 | |
Weighted-average interest rate | 0.74% | 0.32% | |
Highest amount at a monthend | $ 49,100 | $ 17,700 | $ 13,700 |
Daily average amount outstanding | $ 16,011 | $ 2,504 | $ 3,938 |
Weighted-average interest rate | 0.61% | 0.33% | 0.25% |
FHLB Advances [Member] | |||
Short-term Debt [Line Items] | |||
Amount outstanding | $ 10,000 | $ 10,000 | |
Weighted-average interest rate | 1.73% | 1.73% | |
Highest amount at a monthend | $ 10,000 | $ 10,000 | $ 9,000 |
Daily average amount outstanding | $ 10,000 | $ 7,151 | $ 5,000 |
Weighted-average interest rate | 1.73% | 1.79% | 3.54% |
Securities Sold Under Agreeme74
Securities Sold Under Agreements To Repurchase (Narrative) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Securities Sold Under Agreements To Repurchase [Abstract] | ||
Securities sold under agreement to repurchase | $ 10,159 | $ 10,821 |
Comprehensive Income (Loss) (Sc
Comprehensive Income (Loss) (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | $ (1,810) | $ (1,508) | $ (1,263) |
Net Change | (614) | (302) | (245) |
Ending Balance | (2,424) | (1,810) | (1,508) |
Net Unrealized Gain (Loss) On Investment Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | 475 | 911 | 191 |
Net Change | (840) | (436) | 720 |
Ending Balance | (365) | 475 | 911 |
Net Defined Benefit Pension Plan Adjustments [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning Balance | (2,285) | (2,419) | (1,454) |
Net Change | 226 | 134 | (965) |
Ending Balance | $ (2,059) | $ (2,285) | $ (2,419) |
Comprehensive Income (Loss) (Co
Comprehensive Income (Loss) (Components Of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Unrealized loss on investment securities: | ||||
Unrealized gain (loss) on investment securities, Before-Tax Amount | $ (1,355) | $ (719) | $ 1,173 | |
Defined benefit pension plan adjustments: | ||||
Net actuarial gain (loss), Before-Tax Amount | 110 | 5 | (1,710) | |
Amortization of prior service cost, Before-Tax Amount | [1] | 31 | 31 | 31 |
Amortization of actuarial loss, Before-Tax Amount | [1] | 221 | 201 | 105 |
Net change, Before-Tax Amount | 362 | 237 | (1,574) | |
Other Comprehensive Income (Loss), Before-Tax Amount | (993) | (482) | (401) | |
Unrealized gain (loss) on investment securities, Income Tax (Provision) Benefit | 515 | 283 | (453) | |
Net actuarial gain (loss), Income Tax (Provision) Benefit | (42) | (15) | 662 | |
Amortization of prior service cost, Income Tax (Provision) Benefit | [1] | (12) | (12) | (12) |
Amortization of actuarial loss, Income Tax (Provision) Benefit | [1] | (82) | (76) | (41) |
Net change, Income Tax (Provision) Benefit | (136) | (103) | 609 | |
Other Comprehensive Income (Loss), Income Tax (Provision) Benefit | 379 | 180 | 156 | |
Unrealized gain (loss) on investment securities, Net-of-Tax Amount | (840) | (436) | 720 | |
Net actuarial gain (loss), Net-of-Tax Amount | 68 | (10) | (1,048) | |
Amortization of prior service cost, Net-of-Tax Amount | [1] | 19 | 19 | 19 |
Amortization of actuarial loss, Net-of-Tax Amount | [1] | 139 | 125 | 64 |
Net change, Net-of-Tax Amount | 226 | 134 | (965) | |
OTHER COMPREHENSIVE LOSS, NET OF TAX | $ (614) | $ (302) | $ (245) | |
[1] | Included in net periodic pension cost as described in Note 11 - "Employee Benefits and Deferred Compensation Plans" |
Employee Benefits And Deferre77
Employee Benefits And Deferred Compensation Plans (Narrative) (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($)item | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Cash contributed to pension plan | $ 140 | $ 165 | $ 110 | |
Cash surrender value of bank-owned life insurance contracts | $ 21,534 | $ 20,978 | ||
Pension Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected long-term rate of return on plan assets | 6.50% | 7.50% | 7.50% | |
Cash contributed to pension plan | $ 140 | |||
Company contribution in the next fiscal year | $ 140 | |||
Discount rate for projected benefit obligation | 3.95% | 4.17% | 3.83% | |
Benefit obligation | $ 5,524 | $ 5,384 | $ 5,437 | |
Supplemental Executive Retirement Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amounts to be amortized from accumulated other comprehensive loss into net periodic cost for prior service costs | 31 | |||
Amounts to be amortized from accumulated other comprehensive loss into net periodic cost for actuarial losses | $ 81 | |||
Discount rate for projected benefit obligation | 3.30% | 3.38% | 3.30% | |
Required benefit service period | 10 years | |||
Number of highest consecutive years | 5 years | |||
Number of SERP plans | item | 2 | |||
Benefit obligation | $ 4,255 | $ 4,349 | $ 4,555 | |
Supplemental Executive Retirement Plans [Member] | Minimum [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Required benefit service period | 15 years | |||
Percentage of participants salary used to determine accrued benefit | 25.00% | |||
Supplemental Executive Retirement Plans [Member] | Maximum [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Required benefit service period | 20 years | |||
Percentage of participants salary used to determine accrued benefit | 35.00% | |||
Non-Qualified Executive Insentive Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Compensation cost | $ 110 | 105 | 210 | |
Benefit obligation | 2,200 | 2,200 | ||
401(K) Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Compensation cost | $ 727 | $ 751 | $ 719 | |
Vesting period of employer contributions | 6 years | |||
Forecast [Member] | Pension Plans [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amounts to be amortized from accumulated other comprehensive loss into net periodic cost for actuarial losses | $ 92 | |||
Equity Securities [Member] | Pension Plans [Member] | Minimum [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected long-term rate of return on plan assets | 5.00% | |||
Equity Securities [Member] | Pension Plans [Member] | Maximum [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected long-term rate of return on plan assets | 10.00% | |||
Equity Securities [Member] | Normal Market Conditions [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected long-term rate of return on plan assets | 65.00% | |||
Fixed Income Securities [Member] | Pension Plans [Member] | Minimum [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected long-term rate of return on plan assets | 5.00% | |||
Fixed Income Securities [Member] | Pension Plans [Member] | Maximum [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected long-term rate of return on plan assets | 6.00% | |||
Fixed Income Securities [Member] | Normal Market Conditions [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Expected long-term rate of return on plan assets | 35.00% |
Employee Benefits And Deferre78
Employee Benefits And Deferred Compensation Plans (Schedule Of Defined Benefit Plans Disclosures, Employee Pension Plan) (Details) - Pension Plans [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Change in benefit obligation: | |||
Benefit obligation at the beginning of the year | $ 5,384 | $ 5,437 | |
Service cost | |||
Interest cost | 221 | 205 | 206 |
Assumption change | 97 | (61) | |
Actuarial (gain) loss | 11 | (4) | |
Benefits paid | (189) | (193) | |
Benefit obligation at the end of the year | 5,524 | 5,384 | 5,437 |
Change in plan assets: | |||
Fair value of plan assets at beginning of year | 4,067 | 4,201 | |
Actual return on plan assets | 248 | (106) | |
Employer contributions | 140 | 165 | |
Benefits paid | (189) | (193) | |
Fair value of plan assets at end of year | 4,266 | 4,067 | $ 4,201 |
Funded status | (1,258) | (1,317) | |
Accrued benefit liabilities | (1,258) | (1,317) | |
Net actuarial loss | 2,429 | 2,390 | |
Prior service cost | |||
Net amount recognized in equity – pre-tax | 2,429 | 2,390 | |
Net amount recognized on Consolidated Balance Sheets in Other Liabilities | 1,171 | 1,073 | |
Accumulated benefit obligation at year end | $ 5,524 | $ 5,384 |
Employee Benefits And Deferre79
Employee Benefits And Deferred Compensation Plans (Schedule Of Assumptions Used, Employee Pension Plan) (Details) - Pension Plans [Member] | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate for projected benefit obligation | 3.95% | 4.17% | 3.83% |
Discounted rate for net periodic pension cost | 4.17% | 3.83% | 4.78% |
Rate of increase in compensation levels | |||
Expected long-term rate of return on plan assets | 6.50% | 7.50% | 7.50% |
Employee Benefits And Deferre80
Employee Benefits And Deferred Compensation Plans (Schedule Of Net Periodic Benefit Costs, Employee Pension Plan) (Details) - Pension Plans [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | |||
Interest cost | 221 | 205 | 206 |
Expected return on plan assets | (263) | (308) | (307) |
Net amortization and deferral | 85 | 71 | 22 |
Net periodic benefit cost | $ 43 | $ (32) | $ (79) |
Employee Benefits And Deferre81
Employee Benefits And Deferred Compensation Plans (Schedule Of Target Plan Asset Allocations) (Details) - Pension Plans [Member] | Dec. 31, 2016 | Dec. 31, 2015 |
Defined Benefit Plan Disclosure [Line Items] | ||
Weighted average plan asset allocations | 100.00% | 100.00% |
Equity Mutual Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Weighted average plan asset allocations | 67.97% | 73.51% |
Fixed Income Mutual Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Weighted average plan asset allocations | 30.20% | 18.64% |
Cash/Short-Term Investments [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Weighted average plan asset allocations | 1.83% | 7.85% |
Employee Benefits And Deferre82
Employee Benefits And Deferred Compensation Plans (Schedule of Allocation Of Plan Assets) (Details) - Pension Plans [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 4,266 | $ 4,067 | $ 4,201 |
Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 4,266 | 4,067 | |
Cash [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 44 | ||
Mutual Funds, Money Market [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 78 | 275 | |
Fixed Income Mutual Funds [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 1,288 | 394 | |
Equities, Small Cap [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 307 | 375 | |
Equities, Large Cap [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 1,008 | ||
Equities, Real Estate [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 101 | 234 | |
Equities, International Large Cap [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 923 | 757 | |
Equities, International Small Cap [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 201 | ||
Equities, Emerging Markets [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 254 | 388 | |
Equities, Currency [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 177 | ||
Equities, Commodity [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 106 | 35 | |
Equities, Bank Loans [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 187 | ||
Exchange-Traded Funds (ETFs), Large Cap [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 844 | ||
Exchange-Traded Funds (ETFs), Mid Cap [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 357 |
Employee Benefits And Deferre83
Employee Benefits And Deferred Compensation Plans (Estimated Future Benefit Payments, Employee Pension Plan) (Details) - Pension Plans [Member] $ in Thousands | Dec. 31, 2016USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2,017 | $ 202 |
2,018 | 212 |
2,019 | 211 |
2,020 | 210 |
2,021 | 225 |
Year 2022 - 2026 | $ 1,540 |
Employee Benefits And Deferre84
Employee Benefits And Deferred Compensation Plans (Schedule Of Defined Benefit Plans Disclosures, SERP) (Details) - Supplemental Executive Retirement Plans [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Change in benefit obligation: | |||
Benefit obligation at the beginning of the year | $ 4,349 | $ 4,555 | |
Service cost | 188 | 194 | $ 168 |
Interest cost | 144 | 146 | 159 |
Actuarial (gain) loss | (234) | (354) | |
Benefits paid | (192) | (192) | |
Benefit obligation at the end of the year | 4,255 | 4,349 | 4,555 |
Change in plan assets: | |||
Fair value of plan assets at beginning of year | |||
Actual return on plan assets | |||
Employer contributions | 192 | 192 | |
Benefits paid | (192) | (192) | |
Fair value of plan assets at end of year | |||
Funded status | (4,255) | (4,349) | |
Accrued benefit liabilities | (4,255) | (4,349) | |
Net actuarial loss | 747 | 1,117 | |
Prior service cost | 187 | 218 | |
Net amount recognized in equity – pre-tax | 934 | 1,335 | |
Net amount recognized on Consolidated Balance Sheets in Other Liabilities | (3,321) | (3,014) | |
Accumulated benefit obligation at year end | $ 3,902 | $ 3,876 |
Employee Benefits And Deferre85
Employee Benefits And Deferred Compensation Plans (Schedule Of Assumptions Used, SERP) (Details) - Supplemental Executive Retirement Plans [Member] | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate for projected benefit obligation | 3.30% | 3.38% | 3.30% |
Discounted rate for net periodic pension cost | 3.38% | 3.30% | 4.15% |
Salary scale | 3.00% | 3.50% | 3.50% |
Employee Benefits And Deferre86
Employee Benefits And Deferred Compensation Plans (Schedule Of Net Periodic Benefit Costs, SERP) (Details) - Supplemental Executive Retirement Plans [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 188 | $ 194 | $ 168 |
Interest cost | 144 | 146 | 159 |
Net amortization and deferral | 167 | 161 | 115 |
Net periodic benefit cost | $ 499 | $ 501 | $ 442 |
Employee Benefits And Deferre87
Employee Benefits And Deferred Compensation Plans (Estimated Future Benefit Payments, SERP) (Details) - Supplemental Executive Retirement Plans [Member] $ in Thousands | Dec. 31, 2016USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2,017 | $ 193 |
2,018 | 193 |
2,019 | 1,848 |
2,020 | 193 |
2,021 | 277 |
Year 2022 - 2026 | $ 1,410 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)ShareBasedCompensationPlanshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of stock-based compensation plans | ShareBasedCompensationPlan | 2 | ||
Shares issued in Employee Stock Purchase Plan | shares | 10,596 | 10,574 | 12,821 |
Employee [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation, cost recognized | $ | $ 380 | $ 318 | $ 293 |
Director [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation, cost recognized | $ | $ 98 | $ 106 | $ 83 |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Purchase price of stock as a percentage of it's fair market value | 100.00% | ||
Unrecognized cost related to options | $ | $ 204 | ||
Expected term | 6 years 9 months 7 days | 6 years 4 months 10 days | 6 years 4 months 10 days |
Stock Options [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period | 4 years | ||
Expected term | 10 years | ||
Stock Options [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period | 12 months | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized cost related to restricted share-based compensation arrangements | $ | $ 627 | ||
2009 Long-Term Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares authorized | shares | 629,796 | ||
Number of shares available for grant | shares | 137,395 | ||
Employee Stock Purchase Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation, cost recognized | $ | $ 75 | $ 71 | $ 89 |
Number of shares available for grant | shares | 122,554 | ||
Purchase price of stock as a percentage of it's fair market value | 85.00% | ||
Shares issued in Employee Stock Purchase Plan | shares | 10,596 | 10,574 | 12,821 |
Expected term | 6 months | 6 months | 6 months |
Maximum employee subscription rate | 15.00% |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule Of Stock Options Valuation Assumptions) (Details) - Stock Options [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend Yield | 2.88% | 2.93% | 2.70% |
Expected Life (years) | 6 years 9 months 7 days | 6 years 4 months 10 days | 6 years 4 months 10 days |
Expected Volatility | 17.25% | 19.62% | 20.76% |
Risk-free Interest Rate | 1.78% | 1.90% | 2.11% |
Weighted Average Fair Value | $ 3.05 | $ 3.49 | $ 3.64 |
Stock-Based Compensation (Sch90
Stock-Based Compensation (Schedule Of Stock Options Activity) (Details) - Stock Options [Member] $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Balance, Beginning | shares | 214,295 |
Options Granted | shares | 49,550 |
Options Exercised | shares | (6,050) |
Options Expired | shares | (645) |
Options Forfeited | shares | (5,448) |
Options Balance, Ending | shares | 251,702 |
Options Exercisable, Ending | shares | 164,390 |
Weighted Average Exercise Price, Balance, Beginning | $ / shares | $ 17.30 |
Weighted Average Exercise Price, Granted | $ / shares | 25 |
Weighted Average Exercise Price, Exercised | $ / shares | 16.60 |
Weighted Average Exercise Price, Expired | $ / shares | 22.93 |
Weighted Average Exercise Price, Forfeited | $ / shares | 24.49 |
Weighted Average Exercise Price, Balance, Ending | $ / shares | 18.66 |
Weighted Average Exercise Price, Exercisable, Ending | $ / shares | $ 15.73 |
Weighted Average Remaining Contractual Term (years), Balance, Ending | 5 years 9 months |
Weighted Average Remaining Contractual Term (years), Exercisable, Ending | 4 years 3 months 7 days |
Aggregate Intrinsic Value, Balance, Ending | $ | $ 3,229 |
Aggregate Intrinsic Value, Balance, Exercisable, Ending | $ | $ 2,585 |
Stock-Based Compensation (Sch91
Stock-Based Compensation (Schedule Of Unrecognized Compensation Cost, Stock Options) (Details) - Stock Options [Member] $ in Thousands | Dec. 31, 2016USD ($) |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
2,017 | $ 86 |
2,018 | 70 |
2,019 | 41 |
2,020 | $ 7 |
Stock-Based Compensation (Sch92
Stock-Based Compensation (Schedule Of Restricted Stock Award Activity) (Details) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Shares Balance, Beginning | shares | 33,690 |
Shares Granted | shares | 22,308 |
Shares Vested | shares | (14,629) |
Shares Forfeited | shares | (2,201) |
Shares Balance, Ending | shares | 39,168 |
Weighted Average Grant Date Fair Value, Balance, Beginning | $ / shares | $ 21.98 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 24.89 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 22.09 |
Weighted Average Grant Date Fair Value, Forfeited | $ / shares | 24.41 |
Weighted Average Grant Date Fair Value, Balance, Ending | $ / shares | $ 23.68 |
Stock-Based Compensation (Sch93
Stock-Based Compensation (Schedule Of Unrecognized Compensation Cost) (Details) - Restricted Stock [Member] $ in Thousands | Dec. 31, 2016USD ($) |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
2,017 | $ 270 |
2,018 | 211 |
2,019 | 124 |
2,020 | $ 22 |
Stock-Based Compensation (Sch94
Stock-Based Compensation (Schedule Of Activity Under Share Based Compensation Plans) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total intrinsic value of stock options exercised | $ 92 | $ 409 | $ 287 |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total fair value of restricted stock awards vested | $ 349 | $ 287 | $ 273 |
Stock-Based Compensation (Sch95
Stock-Based Compensation (Schedule Of Employee Stock Purchase Plan Valuation Assumptions) (Details) - Employee Stock Purchase Plan [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend Yield | 2.93% | 3.01% | 2.95% |
Expected Life (years) | 6 months | 6 months | 6 months |
Expected Volatility | 22.97% | 16.47% | 22.41% |
Risk-free Interest Rate | 0.43% | 0.19% | 0.08% |
Weighted Average Fair Value | $ 7.71 | $ 6.92 | $ 6.56 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Contingency [Line Items] | |||
Valuation allowance | $ 276 | $ 293 | |
Investment in historic tax credit | 636 | 452 | |
Unrecognized tax benefits | 0 | 0 | $ 0 |
Accrued income tax penalties and interest | $ 0 | $ 0 | |
State [Member] | New York State Division of Taxation and Finance [Member] | Earliest Tax Year [Member] | |||
Income Tax Contingency [Line Items] | |||
Tax years subject to examination | 2,011 | ||
State [Member] | New York State Division of Taxation and Finance [Member] | Latest Tax Year [Member] | |||
Income Tax Contingency [Line Items] | |||
Tax years subject to examination | 2,015 | ||
Federal [Member] | IRS [Member] | Earliest Tax Year [Member] | |||
Income Tax Contingency [Line Items] | |||
Tax years subject to examination | 2,013 | ||
Federal [Member] | IRS [Member] | Latest Tax Year [Member] | |||
Income Tax Contingency [Line Items] | |||
Tax years subject to examination | 2,015 |
Income Taxes (Schedule Of Compo
Income Taxes (Schedule Of Components Of Income Tax Provision (Benefit)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Abstract] | |||
Current federal tax expense | $ 1,990 | $ 2,784 | $ 2,282 |
Current state tax expense (benefit) | 4 | 3 | (118) |
Total current tax expense | 1,994 | 2,787 | 2,164 |
Deferred federal tax expense (benefit) | (405) | 435 | (215) |
Deferred state tax expense (benefit) | 334 | 545 | (1,245) |
Total deferred tax expense (benefit) | (71) | 980 | (1,460) |
Total income tax provision | $ 1,923 | $ 3,767 | $ 704 |
Income Taxes (Schedule Of Effec
Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Abstract] | |||
Tax provision at statutory rate, Amount | $ 3,466 | $ 3,947 | $ 3,023 |
Tax-exempt income, Amount | (522) | (617) | (558) |
Historic tax credit, Amount | (1,413) | (996) | |
State taxes, net of federal benefit, Amount | 236 | 362 | (899) |
Other items, net, Amount | 156 | 75 | 134 |
Total income tax provision | $ 1,923 | $ 3,767 | $ 704 |
Tax provision at statutory rate, Percent | 34.00% | 34.00% | 34.00% |
Tax-exempt income, Percent | (5.00%) | (5.00%) | (6.00%) |
Historic tax credit, Percent | (14.00%) | (11.00%) | |
State taxes, net of federal benefit, Percent | 2.00% | 3.00% | (10.00%) |
Other items, net, Percent | 2.00% | 1.00% | |
Income tax provision, Percent | 19.00% | 32.00% | 8.00% |
Income Taxes (Schedule Of Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Pension premiums | $ 2,094 | $ 2,148 |
Allowance for loan and lease losses | 5,222 | 4,826 |
Non accrued interest | 34 | |
Deferred compensation | 950 | 956 |
Litigation accrual | 61 | 204 |
Loss on investment in tax credit | 636 | 452 |
Stock options granted | 169 | 134 |
Net operating loss carryforward | 62 | |
Historic tax credit carryforward | 786 | 980 |
Leases | 157 | 156 |
Net unrealized losses on securities | 224 | |
Gross deferred tax assets | 10,333 | 9,918 |
Deferred tax liabilities: | ||
Depreciation and amortization | 2,071 | 1,806 |
Prepaid expenses | 476 | 459 |
Net unrealized gains on securities | 291 | |
Mortgage servicing asset | 200 | 212 |
Gross deferred tax liabilities | 2,747 | 2,768 |
Valuation allowance | (276) | (293) |
Net deferred tax asset | $ 7,310 | $ 6,857 |
Other Liabilities (Schedule Of
Other Liabilities (Schedule Of Other Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Other Liabilities [Abstract] | ||
Retirement compensation liabilities | $ 8,012 | $ 7,986 |
Accounts payable | 3,432 | 2,803 |
Historic tax credit investment | 2,320 | 911 |
Interest payable | 233 | 160 |
Other | 301 | 858 |
Total other liabilities | $ 14,298 | $ 12,718 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transactions [Abstract] | ||
Aggregate amount of loans to related party | $ 3.1 | $ 4.3 |
New advances to related party during period | 5.2 | |
Related party loans repaid | 5.8 | |
Related party deposits | $ 2.2 | $ 4 |
Contingent Liabilities And C102
Contingent Liabilities And Commitments (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Contingent Liabilities And Commitments [Abstract] | |||
Losses on commitments | $ 0 | $ 0 | $ 0 |
Reserve for commitments | 0 | 0 | 0 |
Minimum annual rental commitment, 2017 | 642 | ||
Minimum annual rental commitment, 2018 | 662 | ||
Minimum annual rental commitment, 2019 | 650 | ||
Minimum annual rental commitment, 2020 | 595 | ||
Minimum annual rental commitment, 2021 | 538 | ||
Minimum annual rental commitment, thereafter | 3,100 | ||
Rental expense under operating leases | $ 626 | $ 645 | $ 644 |
Contingent Liabilities And C103
Contingent Liabilities And Commitments (Summary Of Commitments And Contingent Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | $ 221,317 | $ 210,140 |
Commitments To Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 217,581 | 206,346 |
Standby Letters Of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | $ 3,736 | $ 3,794 |
Concentrations Of Credit (Narra
Concentrations Of Credit (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2016 | |
Capital [Member] | Maximum [Member] | Credit Concentration Risk [Member] | |
Concentration Risk [Line Items] | |
Concentration risk, percentage | 15.00% |
Segment Information (Schedule O
Segment Information (Schedule Of Business Segments) (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2016USD ($)segment | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Number of primary business segments | segment | 2 | ||||||||||
Net interest income (expense) | $ 9,403 | $ 9,069 | $ 8,516 | $ 8,260 | $ 8,436 | $ 8,139 | $ 7,648 | $ 7,581 | $ 35,248 | $ 31,804 | $ 31,099 |
Provision for loan losses | 1,209 | 1,216 | 1,229 | ||||||||
Net interest income (expense) after provision for loan losses | 34,039 | 30,588 | 29,870 | ||||||||
Non-interest income | 11,252 | 13,720 | 10,273 | ||||||||
Insurance service and fees | 6,519 | 7,194 | 7,131 | ||||||||
Amortization expense | 108 | ||||||||||
Non-interest expense | 35,096 | 32,698 | 31,252 | ||||||||
Income before income taxes | 10,195 | 11,610 | 8,891 | ||||||||
Income tax provision (benefit) | 1,923 | 3,767 | 704 | ||||||||
Net income | $ 2,339 | $ 2,216 | $ 2,003 | $ 1,714 | $ 1,754 | $ 2,509 | $ 1,675 | $ 1,905 | 8,272 | 7,843 | 8,187 |
Operating Segments [Member] | |||||||||||
Net interest income (expense) | 35,248 | 31,804 | 31,099 | ||||||||
Provision for loan losses | 1,209 | 1,216 | 1,229 | ||||||||
Net interest income (expense) after provision for loan losses | 34,039 | 30,588 | 29,870 | ||||||||
Non-interest income | 4,733 | 6,526 | 3,142 | ||||||||
Insurance service and fees | 6,519 | 7,194 | 7,131 | ||||||||
Amortization expense | 108 | ||||||||||
Non-interest expense | 35,096 | 32,698 | 31,144 | ||||||||
Income before income taxes | 10,195 | 11,610 | 8,891 | ||||||||
Income tax provision (benefit) | 1,923 | 3,767 | 704 | ||||||||
Net income | 8,272 | 7,843 | 8,187 | ||||||||
Banking Activities [Member] | Operating Segments [Member] | |||||||||||
Net interest income (expense) | 35,371 | 31,921 | 31,214 | ||||||||
Provision for loan losses | 1,209 | 1,216 | 1,229 | ||||||||
Net interest income (expense) after provision for loan losses | 34,162 | 30,705 | 29,985 | ||||||||
Non-interest income | 4,733 | 6,526 | 3,142 | ||||||||
Insurance service and fees | 400 | 672 | 591 | ||||||||
Non-interest expense | 30,438 | 28,103 | 26,875 | ||||||||
Income before income taxes | 8,857 | 9,800 | 6,843 | ||||||||
Income tax provision (benefit) | 1,408 | 3,071 | (85) | ||||||||
Net income | 7,449 | 6,729 | 6,928 | ||||||||
Insurance Agency Activities [Member] | Operating Segments [Member] | |||||||||||
Net interest income (expense) | (123) | (117) | (115) | ||||||||
Provision for loan losses | |||||||||||
Net interest income (expense) after provision for loan losses | (123) | (117) | (115) | ||||||||
Non-interest income | |||||||||||
Insurance service and fees | 6,119 | 6,522 | 6,540 | ||||||||
Amortization expense | 108 | ||||||||||
Non-interest expense | 4,658 | 4,595 | 4,269 | ||||||||
Income before income taxes | 1,338 | 1,810 | 2,048 | ||||||||
Income tax provision (benefit) | 515 | 696 | 789 | ||||||||
Net income | $ 823 | $ 1,114 | $ 1,259 |
Segment Information (Schedul106
Segment Information (Schedule Of Identifiable Assets, Net) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Segment Reporting Information [Line Items] | ||
Total Assets | $ 1,100,709 | $ 939,107 |
Operating Segments [Member] | Banking Activities [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Assets | 1,091,291 | 929,998 |
Operating Segments [Member] | Insurance Agency Activities [Member] | ||
Segment Reporting Information [Line Items] | ||
Total Assets | $ 9,418 | $ 9,109 |
Fair Value Of Financial Inst107
Fair Value Of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | $ 15,141 | $ 19,500 |
Impaired loans, allowance for loan loss | 2,027 | 1,742 |
Consumer And Other [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 43 | 42 |
Impaired loans, allowance for loan loss | $ 43 | $ 42 |
Minimum [Member] | Impaired Loans [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount rate | 10.00% | |
Maximum [Member] | Impaired Loans [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Discount rate | 50.00% |
Fair Value Of Financial Inst108
Fair Value Of Financial Instruments (Financial Instruments Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | $ 95,222 | $ 97,141 |
Mortgage servicing rights | 527 | 557 |
U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 12,872 | 21,846 |
States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 35,142 | 37,683 |
Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 47,208 | 37,612 |
Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | ||
Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | ||
Recurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | 527 | 557 |
Recurring [Member] | U.S. Government Agencies [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | ||
Recurring [Member] | U.S. Government Agencies [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 12,872 | 21,846 |
Recurring [Member] | U.S. Government Agencies [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | ||
Recurring [Member] | States and Political Subdivisions [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | ||
Recurring [Member] | States and Political Subdivisions [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 35,142 | 37,683 |
Recurring [Member] | States and Political Subdivisions [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | ||
Recurring [Member] | Mortgage-Backed Securities [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | ||
Recurring [Member] | Mortgage-Backed Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale | 47,208 | 37,612 |
Recurring [Member] | Mortgage-Backed Securities [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available-for-sale |
Fair Value Of Financial Inst109
Fair Value Of Financial Instruments (Changes In Fair Value For Mortgage Servicing Rights) (Details) - Mortgage Servicing Rights [Member] - Level 3 [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Mortgage servicing rights - Beginning balance | $ 557 | $ 518 | $ 509 |
Losses included in earnings | (123) | (93) | (134) |
Additions from loan sales | 93 | 132 | 143 |
Mortgage servicing rights - Ending balance | $ 527 | $ 557 | $ 518 |
Fair Value Of Financial Inst110
Fair Value Of Financial Instruments (Quantitative Information About Significant Unobservable Inputs For MSRs) (Details) - Mortgage Servicing Rights [Member] - Level 3 [Member] | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing fees | 0.25% | 0.25% |
Discount rate | 9.52% | 9.52% |
Prepayment rate (CPR) | 8.12% | 8.55% |
Fair Value Of Financial Inst111
Fair Value Of Financial Instruments (Financial Instruments Measured At Fair Value On Nonrecurring Basis) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 13,114 | $ 17,758 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | ||
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | ||
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 13,114 | $ 17,758 |
Fair Value Of Financial Inst112
Fair Value Of Financial Instruments (Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | $ 95,222 | $ 97,141 |
Held to maturity securities | 1,959 | 1,584 |
Mortgage servicing rights | 527 | 557 |
Demand deposits | 201,741 | 183,098 |
NOW deposits | 88,632 | 83,674 |
Regular savings deposits | 508,652 | 439,993 |
Time deposits | 140,949 | 96,217 |
Carrying Amount [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 13,084 | 22,621 |
Demand deposits | 201,741 | 183,098 |
NOW deposits | 88,632 | 83,674 |
Regular savings deposits | 508,652 | 439,993 |
Carrying Amount [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 95,222 | 97,141 |
FHLB and FRB stock | 3,731 | 2,783 |
Securities sold under agreement to repurchase | 10,159 | 10,821 |
Other borrowed funds | 28,200 | 10,000 |
Junior subordinated debentures | 11,330 | 11,330 |
Carrying Amount [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 1,983 | 1,617 |
Loans, net | 928,596 | 761,101 |
Mortgage servicing rights | 527 | 557 |
Time deposits | 140,949 | 96,217 |
Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 13,084 | 22,621 |
Demand deposits | 201,741 | 183,098 |
NOW deposits | 88,632 | 83,674 |
Regular savings deposits | 508,652 | 439,993 |
Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 95,222 | 97,141 |
FHLB and FRB stock | 3,731 | 2,783 |
Securities sold under agreement to repurchase | 10,159 | 10,821 |
Other borrowed funds | 28,152 | 9,874 |
Junior subordinated debentures | 11,330 | 11,330 |
Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 1,959 | 1,584 |
Loans, net | 945,998 | 772,472 |
Mortgage servicing rights | 527 | 557 |
Time deposits | $ 141,758 | $ 96,975 |
Regulatory Matters (Schedule Of
Regulatory Matters (Schedule Of Compliance With Regulatory Capital Requirements Under Banking Regulations) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Common Equity Tier I (to Risk Weighted Assets), Minimum for Capital Adequacy Purposes, Amount | $ 42,818 |
Common Equity Tier I (to Risk Weighted Assets), Minimum for Capital Adequacy Purposes, Ratio | 4.50% |
Common Equity Tier I (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 61,848 |
Common Equity Tier I (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% |
Total Capital (to Risk Weighted Assets), Minimum for Capital Adequacy Purposes, Amount | $ 76,121 |
Total Capital (to Risk Weighted Assets), Minimum for Capital Adequacy Purposes, Ratio | 8.00% |
Total Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 95,151 |
Total Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% |
Tier I Capital (to Risk Weighted Assets), Minimum for Capital Adequacy Purposes, Amount | $ 57,091 |
Tier I Capital (to Risk Weighted Assets), Minimum for Capital Adequacy Purposes, Ratio | 6.00% |
Tier I Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 76,121 |
Tier I Capital (to Risk Weighted Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% |
Tier I Capital (to Average Assets), Minimum for Capital Adequacy Purposes, Amount | $ 43,395 |
Tier I Capital (to Average Assets), Minimum for Capital Adequacy Purposes, Ratio | 4.00% |
Tier I Capital (to Average Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 54,244 |
Tier I Capital (to Average Assets), Minimum to be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% |
Parent Company [Member] | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Common Equity Tier I (to Risk Weighted Assets), Amount | $ 102,925 |
Common Equity Tier I (to Risk Weighted Assets), Ratio | 10.82% |
Total Capital (to Risk Weighted Assets), Amount | $ 114,846 |
Total Capital (to Risk Weighted Assets), Ratio | 12.07% |
Tier I Capital (to Risk Weighted Assets), Amount | $ 102,925 |
Tier I Capital (to Risk Weighted Assets), Ratio | 10.82% |
Tier I Capital (to Average Assets), Amount | $ 102,925 |
Tier I Capital (to Average Assets), Ratio | 9.49% |
Bank [Member] | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Common Equity Tier I (to Risk Weighted Assets), Amount | $ 100,336 |
Common Equity Tier I (to Risk Weighted Assets), Ratio | 10.56% |
Total Capital (to Risk Weighted Assets), Amount | $ 112,244 |
Total Capital (to Risk Weighted Assets), Ratio | 11.81% |
Tier I Capital (to Risk Weighted Assets), Amount | $ 100,336 |
Tier I Capital (to Risk Weighted Assets), Ratio | 10.56% |
Tier I Capital (to Average Assets), Amount | $ 100,336 |
Tier I Capital (to Average Assets), Ratio | 9.25% |
Parent Company Only Financia114
Parent Company Only Financial Information (Condensed Balance Sheets) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Other assets | $ 16,843 | $ 13,714 | ||
TOTAL ASSETS | 1,100,709 | 939,107 | ||
Junior subordinated debentures | 11,330 | 11,330 | ||
Other liabilities | 14,298 | 12,718 | ||
Total liabilities | 1,003,961 | 847,851 | ||
Total Stockholders’ Equity | 96,748 | 91,256 | $ 85,788 | $ 80,712 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 1,100,709 | 939,107 | ||
Parent Company [Member] | ||||
Cash | 240 | 1,030 | ||
Other assets | 961 | 1,411 | ||
Investment in subsidiaries | 108,069 | 103,309 | ||
TOTAL ASSETS | 109,270 | 105,750 | ||
Junior subordinated debentures | 11,330 | 11,330 | ||
Other liabilities | 1,192 | 3,164 | ||
Total liabilities | 12,522 | 14,494 | ||
Total Stockholders’ Equity | 96,748 | 91,256 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 109,270 | $ 105,750 |
Parent Company Only Financia115
Parent Company Only Financial Information (Condensed Statements Of Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
INCOME BEFORE INCOME TAXES | $ 10,195 | $ 11,610 | $ 8,891 | ||||||||
NET INCOME | $ 2,339 | $ 2,216 | $ 2,003 | $ 1,714 | $ 1,754 | $ 2,509 | $ 1,675 | $ 1,905 | 8,272 | 7,843 | 8,187 |
COMPREHENSIVE INCOME | 7,658 | 7,541 | 7,942 | ||||||||
Parent Company [Member] | |||||||||||
Dividends from subsidiaries | 5,300 | 2,000 | 7,000 | ||||||||
Expenses | (1,477) | (1,387) | (1,363) | ||||||||
INCOME BEFORE INCOME TAXES | 3,823 | 613 | 5,637 | ||||||||
Equity in undistributed earnings of subsidiaries | 4,449 | 7,230 | 2,550 | ||||||||
NET INCOME | 8,272 | 7,843 | 8,187 | ||||||||
Other comprehensive income | |||||||||||
COMPREHENSIVE INCOME | $ 8,272 | $ 7,843 | $ 8,187 |
Parent Company Only Financia116
Parent Company Only Financial Information (Condensed Statements Of Cash Flows) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 2,339 | $ 2,216 | $ 2,003 | $ 1,714 | $ 1,754 | $ 2,509 | $ 1,675 | $ 1,905 | $ 8,272 | $ 7,843 | $ 8,187 |
Other assets | (2,156) | (2,563) | (2,919) | ||||||||
Other liabilities | 1,059 | (523) | 1,751 | ||||||||
Net cash provided by operating activities | 11,540 | 8,098 | 11,021 | ||||||||
Net cash used in investing activities | (172,845) | (82,465) | (44,810) | ||||||||
Proceeds from issuance of common stock | 499 | 216 | 238 | ||||||||
Cash dividends paid | (3,258) | (3,049) | (2,735) | ||||||||
Purchase of Treasury stock | (80) | (210) | (1,436) | ||||||||
Net cash provided by (used in) financing activities | 151,768 | 86,090 | 2,733 | ||||||||
Net increase (decrease) in cash and equivalents | (9,537) | 11,723 | (31,056) | ||||||||
Beginning of period | 22,621 | 10,898 | 22,621 | 10,898 | 41,954 | ||||||
End of period | 13,084 | 22,621 | 13,084 | 22,621 | 10,898 | ||||||
Parent Company [Member] | |||||||||||
Net income | 8,272 | 7,843 | 8,187 | ||||||||
Undistributed earnings of subsidiaries | (4,449) | (7,230) | (2,550) | ||||||||
Other assets | 371 | (267) | (89) | ||||||||
Other liabilities | (1,972) | 191 | 1,563 | ||||||||
Net cash provided by operating activities | 2,222 | 537 | 7,111 | ||||||||
Investment in subsidiaries | (250) | ||||||||||
Net cash used in investing activities | (250) | ||||||||||
Proceeds from issuance of common stock | 316 | ||||||||||
Cash dividends paid | (2,998) | (2,765) | (2,471) | ||||||||
Purchase of Treasury stock | (80) | (1,436) | |||||||||
Net cash provided by (used in) financing activities | (2,762) | (2,765) | (3,907) | ||||||||
Net increase (decrease) in cash and equivalents | (790) | (2,228) | 3,204 | ||||||||
Beginning of period | $ 1,030 | $ 3,258 | 1,030 | 3,258 | 54 | ||||||
End of period | $ 240 | $ 1,030 | $ 240 | $ 1,030 | $ 3,258 |
Selected Quarterly Financial117
Selected Quarterly Financial Data (Schedule Of Selected Quarterly Financial Information) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Selected Quarterly Financial Data [Abstract] | |||||||||||
Interest Income | $ 10,664 | $ 10,241 | $ 9,694 | $ 9,356 | $ 9,437 | $ 9,099 | $ 8,636 | $ 8,456 | $ 39,955 | $ 35,628 | $ 34,715 |
Interest Expense | 1,261 | 1,172 | 1,178 | 1,096 | 1,001 | 960 | 988 | 875 | 4,707 | 3,824 | 3,616 |
NET INTEREST INCOME | 9,403 | 9,069 | 8,516 | 8,260 | 8,436 | 8,139 | 7,648 | 7,581 | 35,248 | 31,804 | 31,099 |
Net Income | $ 2,339 | $ 2,216 | $ 2,003 | $ 1,714 | $ 1,754 | $ 2,509 | $ 1,675 | $ 1,905 | $ 8,272 | $ 7,843 | $ 8,187 |
Earnings per share basic | $ 0.54 | $ 0.52 | $ 0.47 | $ 0.40 | $ 0.41 | $ 0.59 | $ 0.40 | $ 0.45 | $ 1.93 | $ 1.85 | $ 1.96 |
Earnings per share diluted | $ 0.53 | $ 0.51 | $ 0.46 | $ 0.40 | $ 0.41 | $ 0.58 | $ 0.39 | $ 0.44 | $ 1.90 | $ 1.82 | $ 1.92 |