Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'FIRST FINANCIAL SERVICE CORP | ' |
Entity Central Index Key | '0000854395 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Trading Symbol | 'FFKY | ' |
Entity Common Stock, Shares Outstanding | ' | 4,862,023 |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2013 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS: | ' | ' |
Cash and due from banks | $13,441 | $12,598 |
Interest bearing deposits | 18,076 | 50,505 |
Total cash and cash equivalents | 31,517 | 63,103 |
Securities available-for-sale | 290,183 | 354,131 |
Loans held for sale | 1,068 | 3,887 |
Loans, net of unearned fees | 476,031 | 524,835 |
Allowance for loan losses | -12,224 | -17,265 |
Net loans | 463,807 | 507,570 |
Federal Home Loan Bank stock | 4,430 | 4,805 |
Cash surrender value of life insurance | 10,336 | 10,060 |
Premises and equipment, net | 25,907 | 27,048 |
Real estate owned: | ' | ' |
Acquired through foreclosure, net of valuation allowance of $721 Sept (2013) and $500 Dec (2012) | 8,859 | 22,286 |
Other repossessed assets | 16 | 34 |
Accrued interest receivable | 2,283 | 2,690 |
Accrued income taxes | 2,907 | 2,928 |
Low-income housing investments | 7,039 | 7,061 |
Other assets | 1,804 | 1,459 |
TOTAL ASSETS | 850,156 | 1,007,062 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' |
Non-interest bearing | 80,308 | 75,842 |
Interest bearing | 666,570 | 846,778 |
Total deposits | 746,878 | 922,620 |
Advances from Federal Home Loan Bank | 38,424 | 12,596 |
Subordinated debentures | 18,000 | 18,000 |
Accrued interest payable | 4,137 | 3,121 |
Accrued senior preferred dividend | 3,219 | 2,469 |
Accounts payable and other liabilities | 4,977 | 3,884 |
TOTAL LIABILITIES | 815,635 | 962,690 |
Commitments and contingent liabilities | ' | ' |
STOCKHOLDERS' EQUITY: | ' | ' |
Senior preferred stock, $1 par value per share; authorized 5,000,000 shares; issued and outstanding, 20,000 shares with a liquidation preference of $23.2 million Sept (2013), and $22.5 million Dec (2012) | 19,984 | 19,943 |
Common stock, $1 par value per share; authorized 35,000,000 shares; issued and outstanding, 4,861,523 shares Sept (2013), and 4,775,114 shares Dec (2012) | 4,861 | 4,775 |
Additional paid-in capital | 36,137 | 35,782 |
Accumulated deficit | -17,726 | -17,398 |
Accumulated other comprehensive income | -8,735 | 1,270 |
TOTAL STOCKHOLDERS' EQUITY | 34,521 | 44,372 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $850,156 | $1,007,062 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Real Estate Owned, Valuation Allowance (in dollars) | $721,000 | $500,000 |
Serial preferred stock, par value (in dollars per share) | $1 | $1 |
Serial preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Serial preferred stock, shares issued | 20,000 | 20,000 |
Serial preferred stock, shares outstanding | 20,000 | 20,000 |
Serial preferred stock, liquidation preference (in dollars) | $23,200,000 | $22,500,000 |
Common stock, par value (in dollars per share) | $1 | $1 |
Common stock, shares authorized | 35,000,000 | 35,000,000 |
Common stock, shares issued | 4,861,523 | 4,775,114 |
Common stock, shares, outstanding | 4,861,523 | 4,775,114 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest and Dividend Income: | ' | ' | ' | ' |
Loans, including fees | $6,308 | $8,082 | $19,729 | $26,911 |
Taxable securities | 1,700 | 1,666 | 4,898 | 5,303 |
Tax exempt securities | 53 | 74 | 185 | 230 |
Total interest income | 8,061 | 9,822 | 24,812 | 32,444 |
Interest Expense: | ' | ' | ' | ' |
Deposits | 1,561 | 2,952 | 5,471 | 10,341 |
Federal Home Loan Bank advances | 133 | 216 | 397 | 783 |
Subordinated debentures | 340 | 421 | 1,022 | 1,103 |
Total interest expense | 2,034 | 3,589 | 6,890 | 12,227 |
Net interest income | 6,027 | 6,233 | 17,922 | 20,217 |
Provision for loan losses | -500 | 2,671 | -1,325 | 4,598 |
Net interest income after provision for loan losses | 6,527 | 3,562 | 19,247 | 15,619 |
Non-interest Income: | ' | ' | ' | ' |
Customer service fees on deposit accounts | 1,444 | 1,339 | 3,942 | 4,121 |
Gain on sale of mortgage loans | 230 | 505 | 818 | 1,200 |
Gain on sale of investments | 235 | 2,054 | 1,078 | 3,363 |
Loss on sale of investments | -223 | -350 | -839 | -653 |
Other than temporary impairment loss: | ' | ' | ' | ' |
Total other-than-temporary impairment losses | 0 | 0 | 0 | -26 |
Portion of loss recognized in other comprehensive income/(loss) (before taxes) | 0 | 0 | 0 | 0 |
Net impairment losses recognized in earnings | 0 | 0 | 0 | -26 |
Loss on sale and write downs on real estate acquired through foreclosure | -365 | -1,587 | -1,957 | -5,169 |
Gain on branch divesture | 0 | 3,124 | 0 | 3,124 |
Gain on sale of premises and equipment | 0 | 0 | 0 | 322 |
Gain on sale on real estate acquired through foreclosure | 1,632 | 630 | 1,839 | 1,243 |
Gain on sale of real estate held for development | 0 | 0 | 0 | 175 |
Brokerage commissions | 127 | 109 | 384 | 316 |
Other income | 466 | 632 | 1,421 | 1,660 |
Total non-interest income | 3,546 | 6,456 | 6,686 | 9,676 |
Non-interest Expense: | ' | ' | ' | ' |
Employee compensation and benefits | 3,955 | 3,609 | 11,505 | 11,284 |
Office occupancy expense and equipment | 653 | 777 | 2,051 | 2,327 |
Marketing and advertising | 99 | 113 | 273 | 281 |
Outside services and data processing | 900 | 853 | 2,704 | 2,557 |
Bank franchise tax | 315 | 402 | 708 | 1,146 |
FDIC insurance premiums | 460 | 663 | 1,654 | 1,760 |
Amortization of intangible assets | 0 | 0 | 0 | 127 |
Real estate acquired through foreclosure expense | 452 | 638 | 1,270 | 3,314 |
Loan expense | 485 | 568 | 1,092 | 1,732 |
FHLB advance perpayment penalty | 0 | 1,548 | 0 | 1,548 |
Other expense | 1,286 | 1,682 | 4,211 | 4,482 |
Total non-interest expense | 8,605 | 10,853 | 25,468 | 30,558 |
Income (Loss) before income taxes | 1,468 | -835 | 465 | -5,263 |
Income tax expense/(benefit) | 1 | -84 | 2 | -83 |
Net Income (Loss) | 1,467 | -751 | 463 | -5,180 |
Less: | ' | ' | ' | ' |
Dividends on preferred stock | -250 | -250 | -750 | -750 |
Accretion on preferred stock | -14 | -14 | -41 | -41 |
Net income (loss) attributable to common shareholders | $1,203 | ($1,015) | ($328) | ($5,971) |
Shares applicable to basic income (loss) per common share (in shares) | 4,860,115 | 4,772,987 | 4,816,538 | 4,766,898 |
Basic income (loss) per common share (in dollars per share) | $0.25 | ($0.21) | ($0.07) | ($1.25) |
Shares applicable to diluted income (loss) per common share (in shares) | 4,905,542 | 4,772,987 | 4,816,538 | 4,766,898 |
Diluted income (loss) per common share (in dollars per share) | $0.25 | ($0.21) | ($0.07) | ($1.25) |
Cash dividends declared per common share (in dollars per share) | $0 | $0 | $0 | $0 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income/(Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net Income (Loss) | $1,467 | ($751) | $463 | ($5,180) |
Other comprehensive income (loss): | ' | ' | ' | ' |
Change in unrealized gain (loss) on securities available-for-sale | -1,438 | 2,212 | -9,766 | 2,980 |
Change in unrealized gain (loss) on securities available-for-sale for which a portion of other-than-temporary impairment has been recognized into earnings | 0 | 98 | 0 | 77 |
Reclassification of realized amount on securities available-for-sale losses (gains) | -12 | -1,704 | -239 | -2,710 |
Reclassification of unrealized loss on held-to-maturity security recognized in income | 0 | 0 | 0 | 26 |
Accretion (amortization) of non-credit component of other-than-temporary impairment on held-to-maturity securities | 0 | 0 | 0 | 50 |
Net unrealized gain (loss) recognized in comprehensive income | -1,450 | 606 | -10,005 | 423 |
Tax effect | 0 | -206 | 0 | -206 |
Total other comphrehensive income (loss) | -1,450 | 400 | -10,005 | 217 |
Comprehensive Income (Loss) | $17 | ($351) | ($9,542) | ($4,963) |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, except Share data | ||||||
Balance at Dec. 31, 2012 | $44,372 | $19,943 | $4,775 | $35,782 | ($17,398) | $1,270 |
Balance (in shares) at Dec. 31, 2012 | ' | 20,000 | 4,775,114 | ' | ' | ' |
Net income | 463 | 0 | 0 | 0 | 463 | 0 |
Stock issued for stock options exercised and employee benefit plans | 48 | 0 | 20 | 28 | 0 | 0 |
Stock issued for stock options exercised and employee benefit plans (in shares) | ' | 0 | 20,481 | ' | ' | ' |
Issuance of restricted shares | 0 | 0 | 66 | -66 | 0 | 0 |
Issuance of restricted shares (in shares) | ' | 0 | 65,928 | ' | ' | ' |
Stock-based compensation expense | 393 | 0 | 0 | 393 | 0 | 0 |
Total other comprehensive income (loss) | -10,005 | 0 | 0 | 0 | 0 | -10,005 |
Dividends on preferred stock | -750 | 0 | 0 | 0 | -750 | 0 |
Accretion of preferred stock discount | 0 | 41 | 0 | 0 | -41 | 0 |
Balance at Sep. 30, 2013 | $34,521 | $19,984 | $4,861 | $36,137 | ($17,726) | ($8,735) |
Balance (in shares) at Sep. 30, 2013 | ' | 20,000 | 4,861,523 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Activities: | ' | ' |
Net loss | $463 | ($5,180) |
Adjustments to reconcile net income/(loss) to net cash provided by operating activities: | ' | ' |
Provision for loan losses | -1,325 | 4,598 |
Depreciation on premises and equipment | 1,086 | 1,146 |
Change in real estate acquired through foreclosure valuation allowance | 221 | 0 |
Intangible asset amortization | 0 | 127 |
Loss on low-income housing investments | 46 | 275 |
Net amortization (accretion) available-for-sale | 5,394 | -4,764 |
Impairment loss on securities held-to-maturity | 0 | 26 |
Gain on sale of investments available-for-sale | -1,078 | -3,171 |
Gain on call of investments held-to-maturity | 0 | -192 |
Loss on sale of investments available-for-sale | 839 | 653 |
Gain on sale of mortgage loans | -818 | -1,200 |
Gain on branch divesture | 0 | -3,124 |
Gain on sale of premises and equipment | 0 | -322 |
Loss on sale of premises and equipment | 70 | 0 |
Gain on sale of real estate acquired through foreclosure | -1,839 | -1,243 |
Loss on sale of real estate acquired through foreclosure | 372 | 256 |
Gain on sale of real estate held for development | 0 | -175 |
Write-downs on real estate acquired through foreclosure | 1,585 | 4,913 |
Origination of loans held for sale | -46,807 | -47,294 |
Proceeds on sale of loans held for sale | 50,444 | 55,975 |
Stock-based compensation expense | 393 | 202 |
Prepaid FDIC premium | 0 | 1,302 |
Changes in: | ' | ' |
Cash surrender value of life insurance | -276 | -269 |
Interest receivable | 407 | 650 |
Other assets | -345 | 1,388 |
Interest payable | 1,016 | 966 |
Accrued income tax | 21 | 0 |
Accounts payable and other liabilities | 1,093 | 1,692 |
Net cash from operating activities | 10,962 | 7,235 |
Investing Activities: | ' | ' |
Cash paid for the disposition of branches | 0 | -80,248 |
Sales of securities available-for-sale | 125,351 | 214,830 |
Call of securities held-to-maturity | 0 | 208 |
Purchases of securities available-for-sale | -108,926 | -274,567 |
Maturities of securities available-for-sale | 32,363 | 59,436 |
Maturities of securities held-to-maturity | 0 | 58 |
Net change in loans | 42,844 | 104,152 |
Sale of portfolio loans | 0 | 10,693 |
Redemption of Federal Home Loan Bank stock | 375 | 0 |
Investment in low-income housing projects | -24 | -24 |
Net purchases of premises and equipment | -537 | -202 |
Sales of premises and equipment | 522 | 1,575 |
Proceeds from sales of real estate acquired through foreclosure | 15,350 | 10,979 |
Sales of real estate held for development | 0 | 220 |
Net cash from investing activities | 107,318 | 47,110 |
Financing Activities | ' | ' |
Net change in deposits | -175,742 | -76,182 |
Advance from Federal Home Loan Bank | 26,000 | 0 |
Repayments to Federal Home Loan Bank | -172 | -15,105 |
Issuance of common stock under dividend reinvestment program | 0 | 5 |
Issuance of common stock for employee benefit plans and exercise of stock options | 48 | 38 |
Net cash from financing activities | -149,866 | -91,244 |
Increase (decrease) in cash and cash equivalents | -31,586 | -36,899 |
Cash and cash equivalents, beginning of period | 63,103 | 92,236 |
Cash and cash equivalents, end of period | 31,517 | 55,337 |
Supplemental noncash disclosures: | ' | ' |
Transfers from loans to real estate acquired through foreclosure and repossessed assets | 2,369 | 15,682 |
Loans to facilitate sales of real estate owned and repossessed assets | 125 | 243 |
Dividends accrued not paid on preferred stock | 750 | 750 |
Transfers from loans to loans held for sale in probable branch divestiture | $0 | $11,304 |
BASIS_OF_PRESENTATION_AND_SUMM
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ' | |
Basis of Presentation and Significant Accounting Policies [Text Block] | ' | |
1 | BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Basis of Presentation – The accompanying unaudited consolidated financial statements include the accounts of First Financial Service Corporation (the “Corporation”) and its wholly owned subsidiary, First Federal Savings Bank (the “Bank”). First Federal Savings Bank has three wholly owned subsidiaries, First Service Corporation of Elizabethtown, Heritage Properties, LLC and First Federal Office Park, LLC. Unless the text clearly suggests otherwise, references to "us," "we," or "our" include First Financial Service Corporation and its wholly owned subsidiary, collectively referred to as the “Company”. All significant intercompany transactions and balances have been eliminated in consolidation. | ||
The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine month periods ending September 30, 2013 are not necessarily indicative of the results that may occur for the year ending December 31, 2013. For further information, refer to the consolidated financial statements and footnotes thereto included in the Corporation’s annual report on Form 10-K for the period ended December 31, 2012. | ||
Reclassifications – Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year operations or shareholder’s equity. | ||
Adoption of New Accounting Standards – Effective February 2013, we adopted, ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive (ASU 2013-02). This guidance is the culmination of the FASB’s deliberation on reporting reclassification adjustments from accumulated other comprehensive income (AOCI). The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income. However, the amendments require disclosure of amounts reclassified out of AOCI in its entirety, by component, on the face of the statement of operations or in the notes thereto. Amounts that are not required to be reclassified in their entirety to net income must be cross-referenced to other disclosures that provide additional detail. This standard was effective for public entities for annual and interim reporting periods beginning after December 15, 2012. The adoption of this update did not have a material impact on the consolidated financial statements. | ||
In July 2013, the Financial Accounting Standards Board issued Accounting Standards Update 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). Current GAAP does not include explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The adoption of ASU 2013-11 will require an unrecognized tax benefit, or a portion of an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, unless an exception applies. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2013. We are currently evaluating the effect that the provisions of ASU 2013-11 will have on the consolidated financial statements. | ||
REGULATORY_MATTERS
REGULATORY MATTERS | 9 Months Ended | ||
Sep. 30, 2013 | |||
Regulatory Matters [Abstract] | ' | ||
Regulatory Capital Requirements under Banking Regulations [Text Block] | ' | ||
2 | REGULATORY MATTERS | ||
Since January 2011, the Bank has operated under Consent Orders with the Federal Deposit Insurance Corporation (“FDIC”) and the Kentucky Department of Financial Institutions (“KDFI”). The initial Consent Order required the Bank to achieve a total capital to risk-weighted assets ratio of 12% and a Tier 1 capital to average total assets ratio of 9%. It also prohibited the Bank from declaring dividends without the prior written approval of the FDIC and KDFI and has required the Bank to develop and implement plans to reduce its level of non-performing assets and concentrations of credit in commercial real estate loans, maintain adequate reserves for loan and lease losses, implement procedures to ensure compliance with applicable laws, and take certain other actions. When the Bank entered into a new Consent Order with the FDIC and KDFI in March 2012, it agreed that should it be unable to reach the required capital levels by June 30, 2012, and if directed in writing by the FDIC, then within 30 days the Bank would develop, adopt and implement a written plan to sell or merge itself into another federally insured financial institution. To date, the Bank has not received such a written direction. The latest Consent Order also includes the same substantive provisions as the initial Consent Order and requires the Bank to continue to adhere to the plans implemented in response to the initial Consent Order. | |||
Copies of the Consent Orders are included as exhibits to our Form 8–K filed on January 27, 2011 and our 2011 Annual Report on Form 10-K filed March 30, 2012. | |||
In April 2011, the Corporation entered into a formal agreement with the Federal Reserve Bank of St. Louis, which requires the Corporation to obtain regulatory approval before declaring any dividends and to take steps to ensure the Bank complies with the Consent Order. We also may not redeem shares or obtain additional borrowings without prior approval. | |||
At September 30, 2013, the Bank’s Tier 1 capital ratio was 7.80% and the total risk-based capital ratio was 13.09% compared to the minimum 9.00% and 12.00% capital ratios required by the Consent Order. For the fourth consecutive quarter, we have achieved and maintained the total risk-based capital ratio but have yet to achieve the Tier 1 capital ratio. We are continuing to explore our strategic alternatives to achieve and maintain the Tier 1 capital ratio as well as to comply with all of the other terms of the consent order. | |||
The Bank is currently designated as a "troubled institution” which status prohibits the Bank from accepting, renewing or rolling over brokered deposits and restricts the amount of interest the Bank may pay on deposits. | |||
Bank regulatory agencies have discretion when an institution does not meet the terms of a regulatory order. The agencies may initiate changes in management, issue mandatory directives, impose monetary penalties or refrain from formal sanctions, depending on individual circumstances. Any material failures to comply with our regulatory orders would likely result in more stringent enforcement actions by the bank regulatory agencies, which could damage our reputation and have a material adverse effect on our business. | |||
The Consent Order and the formal agreement will remain in effect until modified or terminated by the FDIC, KDFI and Federal Reserve Bank of St. Louis. | |||
Management and the Board of Directors have been actively engaged with our investment banking firm in reviewing all of the strategic alternatives. One of these alternatives was to sell branches that were located outside of our core market. On July 6, 2012, we sold our four banking centers in Southern Indiana, receiving a 3.65% premium on the $102.3 million of consumer and commercial deposits at closing. The buyer assumed a total of approximately $115.4 million in non-brokered deposits, which included $13.1 million of government, corporate, other financial institution and municipal deposits for which we received no premium or discount. We also sold approximately $30.4 million in performing loans at a discount of 0.80%. Other assets sold included vault cash of $367,000 and fixed assets of $887,000. The Indiana branch sale resulted in a gain of $3.1 million. | |||
Our plans for the remainder of 2013 include the following: | |||
· | Continuing to identify and evaluate available strategic options to meet regulatory capital levels and all other requirements of our Consent Order. | ||
· | Continuing to serve our community banking customers and operate the Corporation and the Bank in a safe and sound manner. We have worked diligently to maintain the strength of our retail and deposit franchise. | ||
· | Continuing to reduce expenses and improve our ability to operate in a profitable manner. | ||
· | Continuing to reduce our lending concentration in commercial real estate through expected maturities and repayments. | ||
· | Enhancing our resources dedicated to special asset dispositions, both on a permanent and temporary basis, to accelerate our efforts to dispose of problem assets. | ||
· | Continuing to reduce our inventory of other real estate owned properties. | ||
SECURITIES
SECURITIES | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||
Investment [Text Block] | ' | |||||||||||||||||||
3 | SECURITIES | |||||||||||||||||||
The amortized cost basis and fair values of securities are as follows: | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||
(Dollars in thousands) | Amortized | Unrealized | Unrealized | |||||||||||||||||
Cost | Gains | Losses | Fair Value | |||||||||||||||||
Securities available-for-sale: | ||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||
Government-sponsored | $ | 119,475 | $ | 35 | $ | -4,960 | $ | 114,550 | ||||||||||||
mortgage-backed residential | ||||||||||||||||||||
Government-sponsored | 78,732 | 300 | -1,290 | 77,742 | ||||||||||||||||
collateralized mortgage obligations | ||||||||||||||||||||
Asset backed-collateralized loan obligations | 33,102 | - | -446 | 32,656 | ||||||||||||||||
State and municipal | 12,257 | 423 | -14 | 12,666 | ||||||||||||||||
Corporate bonds | 52,794 | 222 | -447 | 52,569 | ||||||||||||||||
Total | $ | 296,360 | $ | 980 | $ | -7,157 | $ | 290,183 | ||||||||||||
December 31, 2012: | ||||||||||||||||||||
U.S. Treasury and agencies | $ | 8,284 | $ | 7 | $ | -13 | $ | 8,278 | ||||||||||||
Government-sponsored | 144,617 | 774 | -502 | 144,889 | ||||||||||||||||
mortgage-backed residential | ||||||||||||||||||||
Government-sponsored | 148,460 | 2,033 | -346 | 150,147 | ||||||||||||||||
collateralized mortgage obligations | ||||||||||||||||||||
Private asset backed | 4,981 | 151 | - | 5,132 | ||||||||||||||||
State and municipal | 11,394 | 1,324 | - | 12,718 | ||||||||||||||||
Corporate bonds | 32,567 | 433 | -33 | 32,967 | ||||||||||||||||
Total | $ | 350,303 | $ | 4,722 | $ | -894 | $ | 354,131 | ||||||||||||
The amortized cost and fair value of securities at September 30, 2013, by contractual maturity, are shown below. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. | ||||||||||||||||||||
Available for Sale | ||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||
(Dollars in thousands) | Cost | Value | ||||||||||||||||||
Due in one year or less | $ | 3,064 | $ | 3,068 | ||||||||||||||||
Due after one year through five years | 49,485 | 49,406 | ||||||||||||||||||
Due after five years through ten years | 4,751 | 4,624 | ||||||||||||||||||
Due after ten years | 7,751 | 8,137 | ||||||||||||||||||
Investment securities with no single | ||||||||||||||||||||
maturity date: | ||||||||||||||||||||
Government-sponsored mortgage-backed | 119,475 | 114,550 | ||||||||||||||||||
residential | ||||||||||||||||||||
Government-sponsored collateralized | 78,732 | 77,742 | ||||||||||||||||||
mortgage obligations | ||||||||||||||||||||
Asset backed-collateralized loan | 33,102 | 32,656 | ||||||||||||||||||
obligations | ||||||||||||||||||||
$ | 296,360 | $ | 290,183 | |||||||||||||||||
The following schedule shows the proceeds from sales of available-for-sale securities and the gross realized gains and losses on those sales: | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Proceeds from sales | $ | 24,295 | $ | 127,569 | $ | 125,351 | $ | 214,830 | ||||||||||||
Gross realized gains | 235 | 2,054 | 1,078 | 3,363 | ||||||||||||||||
Gross realized losses | 223 | 350 | 839 | 653 | ||||||||||||||||
Investment securities pledged to secure public deposits and Federal Home Loan Bank (FHLB) advances had an amortized cost of $145.3 million and fair value of $142.6 million at September 30, 2013 and a $130.4 million amortized cost and fair value of $132.3 million at December 31, 2012. | ||||||||||||||||||||
Securities with unrealized losses at September 30, 2013 and December 31, 2012 aggregated by major security type and length of time in a continuous unrealized loss position are as follows: | ||||||||||||||||||||
30-Sep-13 | Less than 12 Months | 12 Months or More | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
Description of Securities | Value | Loss | Value | Loss | Value | Loss | ||||||||||||||
Government-sponsored | $ | 103,205 | $ | -4,608 | $ | 8,658 | $ | -352 | $ | 111,863 | $ | -4,960 | ||||||||
mortgage-backed residential | ||||||||||||||||||||
Government-sponsored collateralized | 40,463 | -1,013 | 6,739 | -277 | 47,202 | -1,290 | ||||||||||||||
mortgage obligations | ||||||||||||||||||||
Asset backed-collateralized loan obligations | 32,656 | -446 | - | - | 32,656 | -446 | ||||||||||||||
State and municipal | 3,614 | -14 | - | - | 3,614 | -14 | ||||||||||||||
Corporate bonds | 24,769 | -447 | - | - | 24,769 | -447 | ||||||||||||||
Total temporarily impaired | $ | 204,707 | $ | -6,528 | $ | 15,397 | $ | -629 | $ | 220,104 | $ | -7,157 | ||||||||
31-Dec-12 | Less than 12 Months | 12 Months or More | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
Description of Securities | Value | Loss | Value | Loss | Value | Loss | ||||||||||||||
U.S. Treasury and agencies | $ | 3,255 | $ | -13 | $ | - | $ | - | $ | 3,255 | $ | -13 | ||||||||
Government-sponsored | 82,137 | -502 | - | - | 82,137 | -502 | ||||||||||||||
mortgage-backed residential | ||||||||||||||||||||
Government-sponsored collateralized | 33,275 | -346 | - | - | 33,275 | -346 | ||||||||||||||
mortgage obligations | ||||||||||||||||||||
Corporate bonds | 5,731 | -33 | - | - | 5,731 | -33 | ||||||||||||||
Total temporarily impaired | $ | 124,398 | $ | -894 | $ | - | $ | - | $ | 124,398 | $ | -894 | ||||||||
We evaluate investment securities with significant declines in fair value on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation, to determine whether they should be considered other-than-temporarily impaired under current accounting guidance, which generally provides that if a security is in an unrealized loss position, whether due to general market conditions or industry or issuer-specific factors, the holder of the securities must assess whether the impairment is other-than-temporary. | ||||||||||||||||||||
In conducting this assessment, the Bank evaluates a number of factors including, but not limited to: | ||||||||||||||||||||
· The length of time and the extent to which fair value has been less than the amortized cost basis; | ||||||||||||||||||||
· The Bank’s intent to hold until maturity or sell the debt security prior to maturity; | ||||||||||||||||||||
· An analysis of whether it is more likely than not that the Bank will be required to sell the debt security before its anticipated recovery; | ||||||||||||||||||||
· Adverse conditions specifically related to the security, an industry, or a geographic area; | ||||||||||||||||||||
· The historical and implied volatility of the fair value of the security; | ||||||||||||||||||||
⋅ The payment structure of the security and the likelihood of the issuer being able to make payments; | ||||||||||||||||||||
⋅ Failure of the issuer to make scheduled interest or principal payments; | ||||||||||||||||||||
⋅ Any rating changes by a rating agency; and | ||||||||||||||||||||
⋅ Recoveries or additional decline in fair value subsequent to the balance sheet date. | ||||||||||||||||||||
Accounting guidance requires entities to split other than temporary impairment charges between credit losses (i.e., the loss based on the entity’s estimate of the decrease in cash flows, including those that result from expected voluntary prepayments), which are charged to earnings, and the remainder of the impairment charge (non-credit component) to accumulated other comprehensive income. This requirement pertains to both debt securities held to maturity and debt securities available for sale. | ||||||||||||||||||||
The unrealized losses on our investment securities were a result of changes in interest rates for fixed-rate securities where the interest rate received is less than the current rate available for new offerings of similar securities. Mortgage backed securities held in our investment portfolio were issued by U.S. government-sponsored entities and agencies, primarily Freddie Mac (“FHLMC”) and Fannie Mae (“FNMA”), institutions that the government has affirmed its commitment to support. Because the decline in market value on our investment securities is attributable to changes in interest rates and not credit quality, and because we do not intend to sell and it is more likely than not that we will not be required to sell these investments until recovery of fair value, which may be maturity, we do not consider these investments to be other-than-temporarily impaired at September 30, 2013. | ||||||||||||||||||||
We recognized other-than-temporary impairment charges of $26,000 for the expected credit loss during the 2012 period. The 2012 impairment charge was related to Preferred Term Security VI which was called for early redemption in July 2012. | ||||||||||||||||||||
The table below presents a roll-forward of the credit losses recognized in earnings. During 2012, all of our trust preferred securities were either called or sold which represented the remaining balance in the OTTI roll-forward. | ||||||||||||||||||||
(Dollars in thousands) | Three Months Ended | Nine Months Ended | ||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||
2012 | 2012 | |||||||||||||||||||
Beginning balance | $ | 2,104 | $ | 2,078 | ||||||||||||||||
Increases to the amount related to the credit loss for which | - | 26 | ||||||||||||||||||
other-than-temporary impairment was previously recognized | ||||||||||||||||||||
Sales/call of securities | -628 | -628 | ||||||||||||||||||
Ending balance | $ | 1,476 | $ | 1,476 | ||||||||||||||||
LOANS
LOANS | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||
4 | LOANS | ||||||||||||||||||||||||||||
Loans are summarized as follows: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||
Commercial Real Estate (CRE): | |||||||||||||||||||||||||||||
Other-CRE other than Land | |||||||||||||||||||||||||||||
Development and Building Lots | $ | 263,509 | $ | 290,424 | |||||||||||||||||||||||||
Land Development | 22,395 | 28,310 | |||||||||||||||||||||||||||
Building Lots | 1,599 | 2,151 | |||||||||||||||||||||||||||
Residential mortgage | 101,281 | 110,025 | |||||||||||||||||||||||||||
Consumer and home equity | 53,988 | 57,888 | |||||||||||||||||||||||||||
Commercial | 20,394 | 19,931 | |||||||||||||||||||||||||||
Indirect consumer | 12,938 | 16,211 | |||||||||||||||||||||||||||
476,104 | 524,940 | ||||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||
Net deferred loan origination fees | -73 | -105 | |||||||||||||||||||||||||||
Allowance for loan losses | -12,224 | -17,265 | |||||||||||||||||||||||||||
-12,297 | -17,370 | ||||||||||||||||||||||||||||
Net Loans | $ | 463,807 | $ | 507,570 | |||||||||||||||||||||||||
The following tables present the activity in the allowance for loan losses by portfolio segment for the quarter and nine months ending September 30, 2013 and 2012: | |||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||
30-Sep-13 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 908 | $ | 14,054 | $ | 375 | $ | 396 | $ | 214 | $ | 15,947 | |||||||||||||||||
Provision for loan losses | 177 | -790 | 49 | 67 | -3 | -500 | |||||||||||||||||||||||
Charge-offs | -48 | -3,076 | -73 | -111 | -45 | -3,353 | |||||||||||||||||||||||
Recoveries | 10 | 63 | 13 | 8 | 36 | 130 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,047 | $ | 10,251 | $ | 364 | $ | 360 | $ | 202 | $ | 12,224 | |||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||
30-Sep-13 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 1,236 | $ | 14,815 | $ | 501 | $ | 442 | $ | 271 | $ | 17,265 | |||||||||||||||||
Provision for loan losses | -95 | -1,175 | -81 | 90 | -64 | -1,325 | |||||||||||||||||||||||
Charge-offs | -142 | -3,528 | -73 | -209 | -102 | -4,054 | |||||||||||||||||||||||
Recoveries | 48 | 139 | 17 | 37 | 97 | 338 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,047 | $ | 10,251 | $ | 364 | $ | 360 | $ | 202 | $ | 12,224 | |||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||
30-Sep-12 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 1,483 | $ | 12,169 | $ | 803 | $ | 525 | $ | 320 | $ | 15,300 | |||||||||||||||||
Provision for loan losses | -156 | 2,831 | 16 | 37 | -57 | 2,671 | |||||||||||||||||||||||
Change in allowance associated with probable | |||||||||||||||||||||||||||||
branch divestitures | 18 | 212 | -30 | 1 | - | 201 | |||||||||||||||||||||||
Charge-offs | -126 | -234 | - | -53 | -58 | -471 | |||||||||||||||||||||||
Recoveries | 13 | 51 | - | -39 | 98 | 123 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,232 | $ | 15,029 | $ | 789 | $ | 471 | $ | 303 | $ | 17,824 | |||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||
30-Sep-12 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 1,422 | $ | 13,830 | $ | 922 | $ | 610 | $ | 397 | $ | 17,181 | |||||||||||||||||
Provision for loan losses | 66 | 4,504 | -36 | 135 | -71 | 4,598 | |||||||||||||||||||||||
Change in allowance associated with probable | |||||||||||||||||||||||||||||
branch divestitures | -7 | -369 | -36 | -56 | - | -468 | |||||||||||||||||||||||
Charge-offs | -313 | -3,038 | -62 | -229 | -157 | -3,799 | |||||||||||||||||||||||
Recoveries | 64 | 102 | 1 | 11 | 134 | 312 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,232 | $ | 15,029 | $ | 789 | $ | 471 | $ | 303 | $ | 17,824 | |||||||||||||||||
We did not implement any changes to our allowance related accounting policies or methodology during the current period. | |||||||||||||||||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of September 30, 2013 and 2012 and December 31, 2012: | |||||||||||||||||||||||||||||
September 30, 2013 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 197 | $ | 3,550 | $ | 68 | $ | 51 | $ | - | $ | 3,866 | |||||||||||||||||
Collectively evaluated for impairment | 850 | 6,701 | 296 | 309 | 202 | 8,358 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,047 | $ | 10,251 | $ | 364 | $ | 360 | $ | 202 | $ | 12,224 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 1,353 | $ | 40,629 | $ | 3,015 | $ | 620 | $ | - | $ | 45,617 | |||||||||||||||||
Loans collectively evaluated for impairment | 19,041 | 246,874 | 98,266 | 53,368 | 12,938 | 430,487 | |||||||||||||||||||||||
Total ending loans balance | $ | 20,394 | $ | 287,503 | $ | 101,281 | $ | 53,988 | $ | 12,938 | $ | 476,104 | |||||||||||||||||
31-Dec-12 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 252 | $ | 7,593 | $ | 86 | $ | 51 | $ | - | $ | 7,982 | |||||||||||||||||
Collectively evaluated for impairment | 984 | 7,222 | 415 | 391 | 271 | 9,283 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,236 | $ | 14,815 | $ | 501 | $ | 442 | $ | 271 | $ | 17,265 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 1,071 | $ | 43,513 | $ | 213 | $ | 188 | $ | - | $ | 44,985 | |||||||||||||||||
Loans collectively evaluated for impairment | 18,860 | 277,372 | 109,812 | 57,700 | 16,211 | 479,955 | |||||||||||||||||||||||
Total ending loans balance | $ | 19,931 | $ | 320,885 | $ | 110,025 | $ | 57,888 | $ | 16,211 | $ | 524,940 | |||||||||||||||||
30-Sep-12 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 229 | $ | 8,000 | $ | 378 | $ | 95 | $ | 7 | $ | 8,709 | |||||||||||||||||
Collectively evaluated for impairment | 1,003 | 7,029 | 411 | 376 | 296 | 9,115 | |||||||||||||||||||||||
Loans held for sale | - | - | - | - | - | - | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,232 | $ | 15,029 | $ | 789 | $ | 471 | $ | 303 | $ | 17,824 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 1,029 | $ | 57,655 | $ | 1,093 | $ | 255 | $ | 57 | $ | 60,089 | |||||||||||||||||
Loans collectively evaluated for impairment | 20,070 | 303,891 | 112,800 | 58,117 | 18,423 | 513,301 | |||||||||||||||||||||||
Loans held for sale | -775 | -36,878 | -3,583 | -5,616 | - | -46,852 | |||||||||||||||||||||||
Total ending loans balance | $ | 20,324 | $ | 324,668 | $ | 110,310 | $ | 52,756 | $ | 18,480 | $ | 526,538 | |||||||||||||||||
The following tables’ present loans individually evaluated for impairment by class of loans as of September 30, 2013 and 2012 and December 31, 2012. The difference between the unpaid principal balance and recorded investment represents partial write downs/charge offs taken on individual impaired credits. The recorded investment and average recorded investment in loans exclude accrued interest receivable and loan origination fees. | |||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||||||
30-Sep-13 | Unpaid | Allowance for | Average | Interest | Cash Basis | Average | Interest | Interest | |||||||||||||||||||||
Principal | Recorded | Loan Losses | Recorded | Income | Interest | Recorded | Income | Income | |||||||||||||||||||||
(Dollars in thousands) | Balance | Investment | Allocated | Investment | Recognized | Recognized | Investment | Recognized | Recognized | ||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | 1,177 | $ | 973 | $ | - | $ | 1,001 | $ | 9 | $ | 9 | $ | 815 | $ | 18 | $ | 18 | |||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 2,220 | 2,195 | - | 2,253 | 27 | 27 | 3,125 | 114 | 114 | ||||||||||||||||||||
Building Lots | 477 | 212 | - | 212 | - | - | 212 | - | - | ||||||||||||||||||||
Other | 25,475 | 20,048 | - | 14,964 | 161 | 161 | 14,042 | 444 | 444 | ||||||||||||||||||||
Residential Mortgage | 2,525 | 2,525 | - | 2,733 | 21 | 21 | 2,212 | 45 | 45 | ||||||||||||||||||||
Consumer and Home Equity | 357 | 357 | - | 376 | 3 | 3 | 293 | 6 | 6 | ||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 380 | 380 | 197 | 283 | 2 | 2 | 310 | 7 | 7 | ||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 2,206 | 2,206 | 1,015 | 2,568 | 31 | 31 | 2,621 | 95 | 95 | ||||||||||||||||||||
Building Lots | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
Other | 15,970 | 15,968 | 2,535 | 18,183 | 195 | 195 | 18,980 | 599 | 599 | ||||||||||||||||||||
Residential Mortgage | 514 | 490 | 68 | 484 | 4 | 4 | 375 | 8 | 8 | ||||||||||||||||||||
Consumer and Home Equity | 281 | 263 | 51 | 266 | 2 | 2 | 269 | 6 | 6 | ||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
Total | $ | 51,582 | $ | 45,617 | $ | 3,866 | $ | 43,323 | $ | 455 | $ | 455 | $ | 43,254 | $ | 1,342 | $ | 1,342 | |||||||||||
31-Dec-12 | Unpaid | Allowance for | Average | Interest | Cash Basis | ||||||||||||||||||||||||
Principal | Recorded | Loan Losses | Recorded | Income | Interest | ||||||||||||||||||||||||
(Dollars in thousands) | Balance | Investment | Allocated | Investment | Recognized | Recognized | |||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | 588 | $ | 588 | $ | - | $ | 1,070 | $ | 39 | $ | 39 | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 5,595 | 4,873 | - | 5,728 | 237 | 237 | |||||||||||||||||||||||
Building Lots | 477 | 212 | - | 810 | 14 | 14 | |||||||||||||||||||||||
Other | 22,121 | 16,500 | - | 25,051 | 961 | 961 | |||||||||||||||||||||||
Residential Mortgage | - | - | - | - | - | - | |||||||||||||||||||||||
Consumer and Home Equity | - | - | - | - | - | - | |||||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 483 | 483 | 252 | 564 | 21 | 21 | |||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 2,674 | 2,674 | 899 | 2,436 | 101 | 101 | |||||||||||||||||||||||
Building Lots | - | - | - | 191 | 3 | 3 | |||||||||||||||||||||||
Other | 19,254 | 19,254 | 6,694 | 20,075 | 772 | 772 | |||||||||||||||||||||||
Residential Mortgage | 213 | 213 | 86 | 1,191 | 24 | 24 | |||||||||||||||||||||||
Consumer and Home Equity | 188 | 188 | 51 | 260 | 6 | 6 | |||||||||||||||||||||||
Indirect Consumer | - | - | - | 54 | 1 | 1 | |||||||||||||||||||||||
Total | $ | 51,593 | $ | 44,985 | $ | 7,982 | $ | 57,430 | $ | 2,179 | $ | 2,179 | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||||||||||||||
30-Sep-12 | Unpaid | Allowance for | Average | Interest | Cash Basis | Average | Interest | Cash Basis | |||||||||||||||||||||
Principal | Recorded | Loan Losses | Recorded | Income | Interest | Recorded | Income | Interest | |||||||||||||||||||||
(Dollars in thousands) | Balance | Investment | Allocated | Investment | Recognized | Recognized | Investment | Recognized | Recognized | ||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | 844 | $ | 722 | $ | - | $ | 857 | $ | 6 | $ | 6 | $ | 1,191 | $ | 34 | $ | 34 | |||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 8,780 | 6,290 | - | 6,031 | 71 | 71 | 5,941 | 177 | 177 | ||||||||||||||||||||
Building Lots | 1,036 | 683 | - | 857 | 7 | 7 | 959 | 13 | 13 | ||||||||||||||||||||
Other | 18,577 | 15,911 | - | 22,319 | 222 | 222 | 27,189 | 781 | 781 | ||||||||||||||||||||
Residential Mortgage | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
Consumer and Home Equity | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 307 | 307 | 229 | 356 | 3 | 3 | 584 | 17 | 17 | ||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 1,950 | 1,950 | 316 | 1,345 | 16 | 16 | 2,377 | 71 | 71 | ||||||||||||||||||||
Building Lots | - | - | - | - | - | - | 238 | 3 | 3 | ||||||||||||||||||||
Other | 34,027 | 32,821 | 7,684 | 26,524 | 264 | 264 | 20,281 | 583 | 583 | ||||||||||||||||||||
Residential Mortgage | 1,119 | 1,093 | 378 | 1,096 | 5 | 5 | 1,436 | 29 | 29 | ||||||||||||||||||||
Consumer and Home Equity | 255 | 255 | 95 | 279 | 1 | 1 | 278 | 4 | 4 | ||||||||||||||||||||
Indirect Consumer | 57 | 57 | 7 | 48 | - | - | 68 | 1 | 1 | ||||||||||||||||||||
Total | $ | 66,952 | $ | 60,089 | $ | 8,709 | $ | 59,712 | $ | 595 | $ | 595 | $ | 60,542 | $ | 1,713 | $ | 1,713 | |||||||||||
The following tables present the recorded investment in restructured, non-accrual and loans past due over 90 days still on accrual by class of loans as of September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||
Restructured | |||||||||||||||||||||||||||||
Loans Past Due | Loans Past Due | ||||||||||||||||||||||||||||
30-Sep-13 | Over 90 Days | Over 90 Days | Non-Accrual | ||||||||||||||||||||||||||
Restructured on | Restructured on | Still | Still | Excluding | |||||||||||||||||||||||||
(Dollars in thousands) | Non-Accrual Status | Accrual Status | Accruing | Accruing | Restructured | ||||||||||||||||||||||||
Commercial | $ | - | $ | 183 | $ | - | $ | - | $ | 434 | |||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | 1,892 | - | - | 302 | ||||||||||||||||||||||||
Building Lots | - | - | - | - | 212 | ||||||||||||||||||||||||
Other | 7,819 | 17,223 | 4,837 | 2,238 | 4,115 | ||||||||||||||||||||||||
Residential Mortgage | 108 | 192 | - | - | 1,162 | ||||||||||||||||||||||||
Consumer and Home Equity | - | 97 | - | - | 262 | ||||||||||||||||||||||||
Indirect Consumer | - | - | - | - | 24 | ||||||||||||||||||||||||
Total | $ | 7,927 | $ | 19,587 | $ | 4,837 | $ | 2,238 | $ | 6,511 | |||||||||||||||||||
Restructured | |||||||||||||||||||||||||||||
Loans Past Due | Loans Past Due | ||||||||||||||||||||||||||||
31-Dec-12 | Over 90 Days | Over 90 Days | Non-Accrual | ||||||||||||||||||||||||||
Restructured on | Restructured on | Still | Still | Excluding | |||||||||||||||||||||||||
(Dollars in thousands) | Non-Accrual Status | Accrual Status | Accruing | Accruing | Restructured | ||||||||||||||||||||||||
Commercial | $ | 31 | $ | 221 | $ | - | $ | - | $ | 562 | |||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 675 | 3,053 | - | - | 695 | ||||||||||||||||||||||||
Building Lots | - | 170 | - | - | 212 | ||||||||||||||||||||||||
Other | 9,047 | 19,080 | - | - | 9,356 | ||||||||||||||||||||||||
Residential Mortgage | - | 303 | - | - | 827 | ||||||||||||||||||||||||
Consumer and Home Equity | - | 24 | - | - | 37 | ||||||||||||||||||||||||
Indirect Consumer | - | - | - | - | 13 | ||||||||||||||||||||||||
Total | $ | 9,753 | $ | 22,851 | $ | - | $ | - | $ | 11,702 | |||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans as of September 30, 2013 and December 31, 2012 by class of loans: | |||||||||||||||||||||||||||||
30-Sep-13 | 30-59 | 60-89 | Greater than | ||||||||||||||||||||||||||
Days | Days | 90 Days | Total | Loans Not | |||||||||||||||||||||||||
(Dollars in thousands) | Past Due | Past Due | Past Due | Past Due | Past Due | Total | |||||||||||||||||||||||
Commercial | $ | - | $ | - | $ | 434 | $ | 434 | $ | 19,960 | $ | 20,394 | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 2,206 | - | 302 | 2,508 | 19,887 | 22,395 | |||||||||||||||||||||||
Building Lots | - | - | 212 | 212 | 1,387 | 1,599 | |||||||||||||||||||||||
Other | 3,861 | 23 | 19,009 | 22,893 | 240,616 | 263,509 | |||||||||||||||||||||||
Residential Mortgage | 279 | 923 | 1,270 | 2,472 | 98,809 | 101,281 | |||||||||||||||||||||||
Consumer and Home Equity | 324 | 28 | 262 | 614 | 53,374 | 53,988 | |||||||||||||||||||||||
Indirect Consumer | 141 | 30 | 24 | 195 | 12,743 | 12,938 | |||||||||||||||||||||||
Total | $ | 6,811 | $ | 1,004 | $ | 21,513 | $ | 29,328 | $ | 446,776 | $ | 476,104 | |||||||||||||||||
31-Dec-12 | 30-59 | 60-89 | Greater than | ||||||||||||||||||||||||||
Days | Days | 90 Days | Total | Loans Not | |||||||||||||||||||||||||
(Dollars in thousands) | Past Due | Past Due | Past Due | Past Due | Past Due | Total | |||||||||||||||||||||||
Commercial | $ | - | $ | 95 | $ | 562 | $ | 657 | $ | 19,274 | $ | 19,931 | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 361 | - | 1,228 | 1,589 | 26,721 | 28,310 | |||||||||||||||||||||||
Building Lots | - | - | 212 | 212 | 1,939 | 2,151 | |||||||||||||||||||||||
Other | 1,264 | 1,239 | 13,449 | 15,952 | 274,472 | 290,424 | |||||||||||||||||||||||
Residential Mortgage | 3,588 | 995 | 827 | 5,410 | 104,615 | 110,025 | |||||||||||||||||||||||
Consumer and Home Equity | 351 | 255 | 45 | 651 | 57,237 | 57,888 | |||||||||||||||||||||||
Indirect Consumer | 246 | 130 | 13 | 389 | 15,822 | 16,211 | |||||||||||||||||||||||
Total | $ | 5,810 | $ | 2,714 | $ | 16,336 | $ | 24,860 | $ | 500,080 | $ | 524,940 | |||||||||||||||||
Troubled Debt Restructurings (TDR): | |||||||||||||||||||||||||||||
We have allocated $1.5 million and $3.1 million of specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of September 30, 2013 and December 31, 2012. We are not committed to lend additional funds to debtors whose loans have been modified in a troubled debt restructuring. Specific reserves are generally assessed prior to loans being modified as a TDR, as most of these loans migrate from our internal watch list and have been specifically reserved for as part of our normal reserving methodology. | |||||||||||||||||||||||||||||
During the quarter and nine month periods ending September 30, 2013 and September 30, 2012, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. | |||||||||||||||||||||||||||||
Modifications involving a reduction of the stated interest rate of the loan were for periods ranging from six months to one year. Modifications involving an extension of the maturity date were for periods ranging from three to six months. | |||||||||||||||||||||||||||||
The following tables present loans by class modified as troubled debt restructurings that occurred during the periods ending September 30, 2013 and 2012: | |||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||
Number | Recorded | Recorded | Number | Recorded | Recorded | ||||||||||||||||||||||||
(Dollars in thousands) | of Loans | Investment | Investment | of Loans | Investment | Investment | |||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||
Commercial | - | $ | - | $ | - | - | $ | - | $ | - | |||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | - | - | - | - | - | |||||||||||||||||||||||
Building Lots | - | - | - | - | - | - | |||||||||||||||||||||||
Other | - | - | - | 1 | 58 | 58 | |||||||||||||||||||||||
Residential Mortgage | - | - | - | - | - | - | |||||||||||||||||||||||
Consumer and Home Equity | - | - | - | - | - | - | |||||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | |||||||||||||||||||||||
Total | - | $ | - | $ | - | 1 | $ | 58 | $ | 58 | |||||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||
Number | Recorded | Recorded | Number | Recorded | Recorded | ||||||||||||||||||||||||
(Dollars in thousands) | of Loans | Investment | Investment | of Loans | Investment | Investment | |||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||
Commercial | - | $ | - | $ | - | 1 | $ | 1,094 | $ | 1,094 | |||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | - | - | 3 | 4,143 | 4,002 | |||||||||||||||||||||||
Building Lots | - | - | - | 2 | 370 | 370 | |||||||||||||||||||||||
Other | 5 | 3,512 | 3,512 | 6 | 1,175 | 1,175 | |||||||||||||||||||||||
Residential Mortgage | - | - | - | - | - | - | |||||||||||||||||||||||
Consumer and Home Equity | 2 | 74 | 74 | - | - | - | |||||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | |||||||||||||||||||||||
Total | 7 | $ | 3,586 | $ | 3,586 | 12 | $ | 6,782 | $ | 6,641 | |||||||||||||||||||
The troubled debt restructurings described above increased the allowance for loan losses allocated to troubled debt restructurings by $242,000 and $78,000 for the three and nine months ended September 30, 2013. The troubled debt restructurings described above decreased the allowance for loan losses allocated to troubled debt restructurings by $7,000 and $6,000 for the three and nine months ended September 30, 2012 primarily due to loan pay downs. Typically, these loans had allocated allowance prior to their formal modification. The troubled debt restructurings described above resulted in charge-offs of $0 and $141,000 for the three and nine month periods ended September 30, 2012. There were no charge-offs recorded on the troubled debt restructurings described above for the 2013 periods. | |||||||||||||||||||||||||||||
The following tables present loans by class modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the periods ending September 30, 2013 and 2012: | |||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||||||
Number | Recorded | Number | Recorded | ||||||||||||||||||||||||||
(Dollars in thousands) | of Loans | Investment | of Loans | Investment | |||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||
Commercial | - | $ | - | - | $ | - | |||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | - | - | - | |||||||||||||||||||||||||
Building Lots | - | - | - | - | |||||||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | |||||||||||||||||||||||||
Residential Mortgage | - | - | - | - | |||||||||||||||||||||||||
Consumer and Home Equity | - | - | - | - | |||||||||||||||||||||||||
Indirect Consumer | - | - | - | - | |||||||||||||||||||||||||
Total | - | $ | - | - | $ | - | |||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||||||
Number | Recorded | Number | Recorded | ||||||||||||||||||||||||||
(Dollars in thousands) | of Loans | Investment | of Loans | Investment | |||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||
Commercial | - | $ | - | - | $ | - | |||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | - | 2 | 3,278 | |||||||||||||||||||||||||
Building Lots | - | - | - | - | |||||||||||||||||||||||||
Other | - | - | 1 | 10,068 | |||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | |||||||||||||||||||||||||
Residential Mortgage | - | - | - | - | |||||||||||||||||||||||||
Consumer and Home Equity | - | - | - | - | |||||||||||||||||||||||||
Indirect Consumer | - | - | - | - | |||||||||||||||||||||||||
Total | - | $ | - | 3 | $ | 13,346 | |||||||||||||||||||||||
For disclosure purposes, a loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. The troubled debt restructurings that subsequently defaulted described above increased the allowance for loan losses by $1.8 million and $1.7 million for the three and nine months ended September 30, 2012. The troubled debt restructurings described above resulted in charge-offs of $141,000 for the three and nine month periods ended September 30, 2012. | |||||||||||||||||||||||||||||
Credit Quality Indicators: | |||||||||||||||||||||||||||||
We categorize loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. We analyze loans individually by classifying the loans as to credit risk. This analysis includes commercial and commercial real estate loans. We also evaluate credit quality on residential mortgage, consumer and home equity and indirect consumer loans based on the aging status and payment activity of the loan. This analysis is performed on a monthly basis. We use the following definitions for risk ratings: | |||||||||||||||||||||||||||||
Criticized: Loans classified as criticized have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in our credit position at some future date. | |||||||||||||||||||||||||||||
Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||
Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as 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. | |||||||||||||||||||||||||||||
Loss: Loans classified as loss are considered non-collectible and their continuance as bankable assets is not warranted. | |||||||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Loans listed as not rated are included in groups of homogeneous loans. For our residential mortgage, consumer and home equity, and indirect consumer homogeneous loans, we also evaluate credit quality based on the aging status of the loan, which was previously presented, and by payment activity. | |||||||||||||||||||||||||||||
As of September 30, 2013and December 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | |||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||
(Dollars in thousands) | Not Rated | Pass | Criticized | Substandard | Doubtful | Loss | Total | ||||||||||||||||||||||
Commercial | $ | - | $ | 19,041 | $ | - | $ | 1,353 | $ | - | $ | - | $ | 20,394 | |||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | 14,706 | 3,288 | 4,401 | - | - | 22,395 | ||||||||||||||||||||||
Building Lots | - | 931 | 456 | 212 | - | - | 1,599 | ||||||||||||||||||||||
Other | - | 209,660 | 17,793 | 36,056 | - | - | 263,509 | ||||||||||||||||||||||
Residential Mortgage | 97,421 | - | 845 | 3,015 | - | - | 101,281 | ||||||||||||||||||||||
Consumer and Home Equity | 53,192 | - | 73 | 723 | - | - | 53,988 | ||||||||||||||||||||||
Indirect Consumer | 12,899 | - | 1 | 38 | - | - | 12,938 | ||||||||||||||||||||||
Total | $ | 163,512 | $ | 244,338 | $ | 22,456 | $ | 45,798 | $ | - | $ | - | $ | 476,104 | |||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
(Dollars in thousands) | Not Rated | Pass | Criticized | Substandard | Doubtful | Loss | Total | ||||||||||||||||||||||
Commercial | $ | - | $ | 16,736 | $ | 2,000 | $ | 1,195 | $ | - | $ | - | $ | 19,931 | |||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | 17,744 | 3,059 | 7,507 | - | - | 28,310 | ||||||||||||||||||||||
Building Lots | - | 1,447 | 492 | 212 | - | - | 2,151 | ||||||||||||||||||||||
Other | - | 235,954 | 18,297 | 36,173 | - | - | 290,424 | ||||||||||||||||||||||
Residential Mortgage | 105,148 | - | 442 | 4,435 | - | - | 110,025 | ||||||||||||||||||||||
Consumer and Home Equity | 56,593 | - | 569 | 726 | - | - | 57,888 | ||||||||||||||||||||||
Indirect Consumer | 16,129 | - | 10 | 72 | - | - | 16,211 | ||||||||||||||||||||||
Total | $ | 177,870 | $ | 271,881 | $ | 24,869 | $ | 50,320 | $ | - | $ | - | $ | 524,940 | |||||||||||||||
The following table presents the unpaid principal balance in residential mortgage, consumer and home equity and indirect consumer loans based on payment activity as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||
30-Sep-13 | Residential | Consumer & | Indirect | ||||||||||||||||||||||||||
(Dollars in thousands) | Mortgage | Home Equity | Consumer | ||||||||||||||||||||||||||
Performing | $ | 100,011 | $ | 53,726 | $ | 12,914 | |||||||||||||||||||||||
Restructured on non-accrual | 108 | - | - | ||||||||||||||||||||||||||
Non-accrual | 1,162 | 262 | 24 | ||||||||||||||||||||||||||
Total | $ | 101,281 | $ | 53,988 | $ | 12,938 | |||||||||||||||||||||||
31-Dec-12 | Residential | Consumer & | Indirect | ||||||||||||||||||||||||||
(Dollars in thousands) | Mortgage | Home Equity | Consumer | ||||||||||||||||||||||||||
Performing | $ | 109,198 | $ | 57,851 | $ | 16,198 | |||||||||||||||||||||||
Restructured on non-accrual | - | - | - | ||||||||||||||||||||||||||
Non-accrual | 827 | 37 | 13 | ||||||||||||||||||||||||||
Total | $ | 110,025 | $ | 57,888 | $ | 16,211 | |||||||||||||||||||||||
REAL_ESTATE_ACQUIRED_THROUGH_F
REAL ESTATE ACQUIRED THROUGH FORECLOSURE | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Real Estate [Abstract] | ' | |||||||||||||
Real Estate Disclosure [Text Block] | ' | |||||||||||||
5 | REAL ESTATE ACQUIRED THROUGH FORECLOSURE | |||||||||||||
A summary of the real estate acquired through foreclosure activity is as follows: | ||||||||||||||
September 30, | December 31, | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | ||||||||||||
Beginning balance, January 1, | $ | 22,286 | $ | 29,083 | ||||||||||
Additions | 2,262 | 18,100 | ||||||||||||
Net proceeds from sale of properties | -13,883 | -19,250 | ||||||||||||
Writedowns | -1,585 | -5,147 | ||||||||||||
Change in valuation allowance | -221 | -500 | ||||||||||||
Ending balance | $ | 8,859 | $ | 22,286 | ||||||||||
A summary of the real estate acquired through foreclosure valuation allowance activity is as follows: | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(Dollars in thousands) | ||||||||||||||
Beginning balance | $ | 721 | $ | - | $ | 500 | $ | - | ||||||
Provision | 365 | - | 1,957 | - | ||||||||||
Writedowns and loss on sale | -365 | - | -1,736 | - | ||||||||||
Ending balance | $ | 721 | $ | - | $ | 721 | $ | - | ||||||
Real estate acquired through foreclosure expense which consists primarily of property management expenses was $452,000 and $638,000 for the three months ended September 30, 2013 and 2012, and $1.3 million and $3.3 million for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||||
INCOME_TAXES
INCOME TAXES | 9 Months Ended | |
Sep. 30, 2013 | ||
Income Tax Disclosure [Abstract] | ' | |
Income Tax Disclosure [Text Block] | ' | |
6 | INCOME TAXES | |
A full valuation allowance related to deferred tax assets is required when it is considered more likely than not that all or part of the benefit related to such assets will not be realized. In assessing the need for a full valuation allowance, we considered various factors including our four year cumulative loss position, the level of our non-performing assets, our inability to meet our forecasted levels of assets and operating results in 2013, 2012 and 2011 and our non-compliance with the capital requirements of our Consent Order. Based on this assessment, we concluded that a valuation allowance was necessary at September 30, 2013 and December 31, 2012. | ||
EARNINGS_LOSS_PER_SHARE
EARNINGS (LOSS) PER SHARE | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||||
7 | EARNINGS (LOSS) PER SHARE | |||||||||||||
The reconciliation of the numerators and denominators of the basic and diluted EPS is as follows: | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
(Amounts in thousands, | September 30, | September 30, | ||||||||||||
except per share data) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Basic: | ||||||||||||||
Net income/(loss) | $ | 1,467 | $ | -751 | $ | 463 | $ | -5,180 | ||||||
Less: | ||||||||||||||
Preferred stock dividends | -250 | -250 | -750 | -750 | ||||||||||
Accretion on preferred stock discount | -14 | -14 | -41 | -41 | ||||||||||
Net income (loss) available to common shareholders | $ | 1,203 | $ | -1,015 | $ | -328 | $ | -5,971 | ||||||
Weighted average common shares | 4,860 | 4,773 | 4,816 | 4,767 | ||||||||||
Diluted: | ||||||||||||||
Weighted average common shares | 4,860 | 4,773 | 4,816 | 4,767 | ||||||||||
Dilutive effect of stock options and warrants | 45 | - | - | - | ||||||||||
Weighted average common and incremental shares | 4,905 | 4,773 | 4,816 | 4,767 | ||||||||||
Earnings (Loss) Per Common Share: | ||||||||||||||
Basic | $ | 0.25 | $ | -0.21 | $ | -0.07 | $ | -1.25 | ||||||
Diluted | $ | 0.25 | $ | -0.21 | $ | -0.07 | $ | -1.25 | ||||||
Since the Corporation is reporting a net loss available to common shareholders for the nine month 2013 period and the 2012 periods, no stock options or warrants were evaluated for dilutive purposes. Stock options for 238,000 shares of common stock were not included in the three month September 30, 2013 computation of diluted earnings per share because their impact was anti-dilutive. The common stock warrant for 215,983 shares was not included in the three month September 30, 2013 computation of diluted earnings per share because its impact was also anti-dilutive. | ||||||||||||||
STOCK_BASED_COMPENSATION_PLAN
STOCK BASED COMPENSATION PLAN | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||
8 | STOCK BASED COMPENSATION PLAN | ||||||||||||
Our 2006 Stock Option and Incentive Compensation Plan, which is stockholder approved, authorizes us to grant restricted stock and incentive or non-qualified stock options to key employees and directors for a total of 763,935 shares of our common stock. We believe that the ability to award stock options and other forms of stock-based incentive compensation can assist us in attracting and retaining key employees. Stock-based incentive compensation is also a means to align the interests of key employees with those of our stockholders by providing awards intended to reward recipients for our long-term growth. Options to purchase shares generally vest over periods of one to five years and expire ten years after the date of grant. We issue new shares of common stock upon the exercise of stock options. If options or awards granted under the 2006 Plan expire or terminate for any reason without having been exercised in full or released from restriction, the corresponding shares shall again be available for option or award for the purposes of the Plan. At September 30, 2013, options and restricted stock available for future grant under the 2006 Plan totaled 157,630. | |||||||||||||
Stock Options – The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model that uses various weighted-average assumptions. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The expected volatility is based on the fluctuation in the price of a share of stock over the period for which the option is being valued and the expected life of the options granted represents the period of time the options are expected to be outstanding. | |||||||||||||
The weighted-average assumptions for options granted during the nine months ended September 30, 2013 and the resulting estimated weighted average fair value per share is presented below. | |||||||||||||
September 30, | |||||||||||||
2013 | |||||||||||||
Assumptions: | |||||||||||||
Risk-free interest rate | 2.05 | % | |||||||||||
Expected dividend yield | - | % | |||||||||||
Expected life (years) | 10 | ||||||||||||
Expected common stock | |||||||||||||
market price volatility | 65 | % | |||||||||||
Estimated fair value per share | $ | 1.96 | |||||||||||
A summary of option activity under the 2006 Plan for the nine months ended September 30, 2013 is presented below: | |||||||||||||
Weighted | |||||||||||||
Weighted | Average | ||||||||||||
Number | Average | Remaining | Aggregate | ||||||||||
of | Exercise | Contractual | Intrinsic | ||||||||||
Options | Price | Term | Value | ||||||||||
(Dollars In Thousands) | |||||||||||||
Outstanding, beginning of period | 392,740 | $ | 9.16 | ||||||||||
Granted during period | 149,000 | 2.7 | |||||||||||
Terminated during period | -132,390 | 17.95 | |||||||||||
Forfeited during period | -11,350 | 4.18 | |||||||||||
Exercised during period | -200 | 2.05 | |||||||||||
Outstanding, end of period | 397,800 | $ | 3.96 | 8.3 | $ | 449 | |||||||
Eligible for exercise at period end | 85,960 | $ | 7.81 | 6.9 | $ | 55 | |||||||
The total intrinsic value of options exercised during the nine month 2013 period was $364. The total cash received from options exercised during the nine month 2013 period was $410. There were 132,390 out of the money options that were settled during the third quarter for $1,300. There were no options exercised, modified or cash settled during the 2012 period. There was no tax benefit recognized from the option exercises as they are considered incentive stock options. Management expects all outstanding unvested options will vest. | |||||||||||||
Compensation cost related to options granted under the 2006 Plan that was charged against earnings for the periods ended September 30, 2013 and 2012 was $113,000 and $86,000. As of September 30, 2013 there was $465,000 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the 2006 Plan. That cost is expected to be recognized over a weighted-average period of 3.5 years. | |||||||||||||
Restricted Stock – On June 28, 2013, we granted 20,500 shares of restricted common stock at the current market price of $3.39. The restricted stock will vest over a five year period and will become fully vested on June 28, 2018, provided that the recipient has continued to perform substantial services for the Bank through that date. Any dividends declared on the restricted stock prior to vesting will be retained and paid only on the date of vesting. The transfer restrictions will expire upon the occurrence of a change of control event or upon the recipient’s death or disability. On the same date, we entered into an agreement with the recipient of the newly issued restricted stock to terminate 17,250 unvested shares of long-term restricted stock that had been awarded to him on February 7, 2013. Upon the sale of our Senior Preferred Shares by the U.S. Treasury on April 29, 2013 at a discount to face amount, the 17,250 shares had become subject to permanent restrictions on transfer by the holder, who elected to terminate the shares. | |||||||||||||
On September 19, 2012 our board of directors adopted the 2012 Non-Employee Director Equity Compensation Program (the “Director Program”). The Director Program enables us to compensate non-employee directors for their service with stock awards. We currently do not pay cash compensation to non-employee directors pursuant to agreements with bank regulatory agencies. The board has reserved 200,000 of the shares authorized for issuance under our shareholder approved 2006 Stock Option and Incentive Compensation Plan for stock awards under the Director Program. | |||||||||||||
The Director Program provides that each non-employee director elected or continuing in office on the date of each annual meeting of the Corporation’s shareholders will automatically receive an award of restricted stock on that date having a value of $30,000, based on the closing sale price per share of the Corporation’s common stock on the award date, rounded up to the next whole number. Accordingly, on May 15, 2013, the Company’s eight non-employee directors each received an award of 9,934 restricted shares, or 79,472 shares in total, that vest at the close of business on the day immediately preceding the date of the 2014 annual meeting of the Corporation’s shareholders, provided that the recipient has continued to serve as a member of the Board as of the date of vesting. The recipient may not transfer, pledge or dispose of the restricted stock until the close of business on the day immediately preceding the first anniversary of the award date. The transfer restrictions will also expire upon the occurrence of a Change of Control, as defined in the Plan, or upon the recipient’s death or disability. If a director ceases to serve as a member of the board for any reason, that director will automatically forfeit any unvested shares subject to an award. Any dividends declared on the restricted stock prior to vesting will be retained and paid only on the date the transfer restrictions expire. | |||||||||||||
A summary of changes in our non-vested restricted shares for the nine months ended September 30, 2013 is presented below: | |||||||||||||
Weighted | |||||||||||||
Average | |||||||||||||
Non-vested | Grant Date | ||||||||||||
Shares | Fair Value | ||||||||||||
Outstanding, beginning of period | 32,964 | $ | 3.64 | ||||||||||
Granted during period | 122,972 | 3.05 | |||||||||||
Vested during period | -76,217 | 3.29 | |||||||||||
Terminated during period | -17,250 | 2.84 | |||||||||||
Forfeited during period | - | - | |||||||||||
Outstanding, end of period | 62,469 | $ | 3.13 | ||||||||||
Compensation cost related to restricted stock granted under the 2006 Plan that was charged against earnings for the periods ended September 30, 2013 and 2012 was $281,000 and $116,000, respectively. As of September 30, 2013 there was $165,000 of total unrecognized compensation cost related to non-vested shares granted under the Plan. That cost is expected to be recognized over the remaining vesting period of 2.4 years. | |||||||||||||
FAIR_VALUE
FAIR VALUE | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
9. FAIR VALUE | |||||||||||||||||
U.S. GAAP defines fair value 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 and establishes a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following three levels: | |||||||||||||||||
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. A quoted price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. | |||||||||||||||||
Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | |||||||||||||||||
Level 3:Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | |||||||||||||||||
We used the following methods and significant assumptions to estimate the fair value. | |||||||||||||||||
Available-for-sale securities: For securities where quoted prices are not available, fair values are calculated on market prices of similar securities or determined by a matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). | |||||||||||||||||
Impaired Loans: At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Impaired loans carried at fair value generally receive specific allocations of the allowance for loan losses. For collateral dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Once a loan is considered impaired, it is evaluated by a member of the Credit Department on at least a quarterly basis for additional impairment and adjusted accordingly. | |||||||||||||||||
Other Real Estate Owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. | |||||||||||||||||
Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by us. Once received, a member of the Credit Department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with via independent data sources such as recent market data or industry-wide statistics. | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||
Assets measured at fair value on a recurring basis are summarized below: There were no transfers between Level 1 and Level 2 during the periods presented. | |||||||||||||||||
Quoted Prices in | |||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||
September 30, | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||
(Dollars in thousands) | 2013 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
Government-sponsored | $ | 114,550 | $ | - | $ | 114,550 | $ | - | |||||||||
mortgage-backed | |||||||||||||||||
residential | |||||||||||||||||
Government-sponsored | 77,742 | - | 77,742 | - | |||||||||||||
collateralized mortgage | |||||||||||||||||
obligations | |||||||||||||||||
Asset backed- | 32,656 | - | 32,656 | - | |||||||||||||
collateralized loan | |||||||||||||||||
obligations | |||||||||||||||||
State and municipal | 12,666 | - | 12,666 | - | |||||||||||||
Corporate bonds | 52,569 | - | 52,569 | - | |||||||||||||
Total | $ | 290,183 | $ | - | $ | 290,183 | $ | - | |||||||||
Quoted Prices in | |||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||
December 31, | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||
(Dollars in thousands) | 2012 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
U.S. Treasury and agencies | $ | 8,278 | $ | - | $ | 8,278 | $ | - | |||||||||
Government-sponsored | 144,889 | - | 144,889 | - | |||||||||||||
mortgage-backed | |||||||||||||||||
residential | |||||||||||||||||
Government-sponsored | 150,147 | - | 150,147 | - | |||||||||||||
collateralized mortgage | |||||||||||||||||
obligations | |||||||||||||||||
Private asset backed | 5,132 | - | 5,132 | - | |||||||||||||
State and municipal | 12,718 | - | 12,718 | - | |||||||||||||
Corporate bonds | 32,967 | - | 32,967 | - | |||||||||||||
Total | $ | 354,131 | $ | - | $ | 354,131 | $ | - | |||||||||
We conduct a thorough review of fair value hierarchy classifications on a quarterly basis. Reclassification of certain financial instruments may occur when input observability changes. | |||||||||||||||||
The table below presents a reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods ended September 30, 2012. The level 3 assets consist of trust preferred securities which were called or sold in the fourth quarter of 2012. We did not have any Level 3 assets measured at fair value on a recurring basis at September 30, 2013. | |||||||||||||||||
Fair Value Measurements | Fair Value Measurements | ||||||||||||||||
Using Significant | Using Significant | ||||||||||||||||
Unobservable Inputs | Unobservable Inputs | ||||||||||||||||
(Level 3) | (Level 3) | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(Dollars in thousands) | 2012 | 2012 | |||||||||||||||
Beginning balance | $ | 266 | $ | 264 | |||||||||||||
Total gains or losses: | |||||||||||||||||
Impairment charges on securities | - | - | |||||||||||||||
Included in other comprehensive income | 16 | 18 | |||||||||||||||
Purchases | - | - | |||||||||||||||
Sales or calls | -1 | -1 | |||||||||||||||
Settlements | - | - | |||||||||||||||
Transfers in and/or out of Level 3 | - | - | |||||||||||||||
Ending balance | $ | 281 | $ | 281 | |||||||||||||
There were no changes in unrealized gains and losses recorded in earnings for the quarter and nine months ended September 30, 2013 for Level 3 assets and liabilities that are still held at September 30, 2013. | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | |||||||||||||||||
Assets measured at fair value on a nonrecurring basis are summarized below: | |||||||||||||||||
Quoted Prices in | |||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||
September 30, | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||
(Dollars in thousands) | 2013 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
Impaired loans: | |||||||||||||||||
Commercial | $ | 183 | $ | - | $ | - | $ | 183 | |||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 1,191 | - | - | 1,191 | |||||||||||||
Other | 13,433 | - | - | 13,433 | |||||||||||||
Residential Mortgage | 422 | - | - | 422 | |||||||||||||
Consumer and Home Equity | 212 | - | - | 212 | |||||||||||||
Real estate acquired through foreclosure: | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 918 | - | - | 918 | |||||||||||||
Other | 2,951 | - | - | 2,951 | |||||||||||||
Residential Mortgage | 483 | - | - | 483 | |||||||||||||
Quoted Prices in | |||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||
December 31, | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||
(Dollars in thousands) | 2012 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
Impaired loans: | |||||||||||||||||
Commercial | $ | 231 | $ | - | $ | - | $ | 231 | |||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 1,775 | - | - | 1,775 | |||||||||||||
Other | 12,560 | - | - | 12,560 | |||||||||||||
Residential Mortgage | 127 | - | - | 127 | |||||||||||||
Consumer and Home Equity | 137 | - | - | 137 | |||||||||||||
Real estate acquired through foreclosure: | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 2,459 | - | - | 2,459 | |||||||||||||
Building Lots | 2,220 | - | - | 2,220 | |||||||||||||
Other | 8,350 | - | - | 8,350 | |||||||||||||
Residential Mortgage | 224 | - | - | 224 | |||||||||||||
Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $19.3 million, with a valuation allowance of $3.9 million, resulting in an additional provision for loan losses of $32,000 for the quarter ended September 30, 2013 and a reversal of provision for loan losses of $310,000 for the nine months ended September 30, 2013. Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a carrying amount of $35.1 million, with a valuation allowance of $5.0 million, resulting in an additional provision for loan losses of $600,000 and $2.5 million for the three and nine months ended September 30, 2012. Values for collateral dependent loans are generally based on appraisals obtained from licensed real estate appraisers and in certain circumstances consideration of offers obtained to purchase properties prior to foreclosure. Appraisals for commercial real estate generally use three methods to derive value: cost, sales or market comparison and income approach. The cost method bases value on the estimated cost to replace the current property after considering adjustments for depreciation. Values of the market comparison approach evaluate the sales price of similar properties in the same market area. The income approach considers net operating income generated by the property and an investors required return. The final value is a reconciliation of these three approaches and takes into consideration any other factors management deems relevant to arrive at a representative fair value. | |||||||||||||||||
Real estate owned acquired through foreclosure is recorded at fair value less estimated selling costs at the date of foreclosure. Fair value is based on the appraised market value of the property. Many of the appraisals utilize an income approach, such as the discounted cash flow method, to estimate future income and profits or cash flows. Appraisals may also utilize a single valuation approach or a combination of approaches including a market comparison approach, where prices and other relevant information generated by market transactions involving identical or comparable properties are used to determine fair value. The fair value may be subsequently reduced if the estimated fair value declines below the original appraised value. Fair value adjustments of $300,000 and $1.8 million were made to real estate owned during the quarter and nine months ended September 30, 2013. Fair value adjustments of $1.4 million and $4.9 million were made to real estate owned during the quarter and nine months ended September 30, 2012. | |||||||||||||||||
The following table presents quantitative information about level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2013. | |||||||||||||||||
Fair | Valuation | Unobservable | Range (Weighted | ||||||||||||||
(Dollars in thousands) | Value | Technique(s) | Input(s) | Average) | |||||||||||||
Impaired loans: | |||||||||||||||||
Commercial | $ | 183 | Income approach | Discount or capitalization rate | 1.25% (1) | ||||||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 1,191 | Income approach | Discount or capitalization rate | 0.00%-25.00% (23.23%) | |||||||||||||
Other | 12,435 | Income approach | Discount or capitalization rate | 1.25%-9.00% (8.73%) | |||||||||||||
998 | Sales comparison approach | Adjustment for differences between | 0.00%-10.00% (2.29%) | ||||||||||||||
comparable sales | |||||||||||||||||
Residential Mortgage | 422 | Sales comparison approach | Adjustment for differences between | 0.00%-3.87% (1.07%) | |||||||||||||
comparable sales | |||||||||||||||||
Consumer and Home Equity | 212 | Sales comparison approach | Adjustment for differences between | 1.80%-2.25% (1.87%) | |||||||||||||
comparable sales | |||||||||||||||||
Real estate acquired through foreclosure: | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 886 | Income approach | Discount or capitalization rate | 8.50%-29.00% (23.97%) | |||||||||||||
32 | Sales comparison approach | Adjustment for differences between | 0.00% (1) | ||||||||||||||
comparable sales | |||||||||||||||||
Other | 1,009 | Income approach | Discount or capitalization rate | 8.70%-10.00% (9.61%) | |||||||||||||
1,942 | Sales comparison approach | Adjustment for differences between | 2.75%-20.00% (15.24%) | ||||||||||||||
comparable sales | |||||||||||||||||
Residential Mortgage | 483 | Sales comparison approach | Adjustment for differences between | 0.00%-18.00% (0.82%) | |||||||||||||
comparable sales | |||||||||||||||||
(1) Unobservable inputs with a single discount listed include only one property. | |||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||
The estimated fair value of financial instruments, not previously presented, is as follows: | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
(Dollars in thousands) | Carrying | Fair Value Measurements | |||||||||||||||
Value | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and due from banks | $ | 31,517 | $ | 31,517 | $ | 5,970 | $ | 25,547 | $ | - | |||||||
Mortgage loans held for sale | 1,068 | 1,085 | - | 1,085 | - | ||||||||||||
Loans, net | 448,366 | 452,066 | - | - | 452,066 | ||||||||||||
Accrued interest receivable | 2,283 | 2,283 | - | - | 2,283 | ||||||||||||
FHLB stock | 4,430 | N/A | N/A | N/A | N/A | ||||||||||||
Financial liabilities: | |||||||||||||||||
Deposits | 746,878 | 708,766 | - | 708,766 | - | ||||||||||||
Advances from Federal Home Loan Bank | 38,424 | 39,445 | - | 39,445 | - | ||||||||||||
Subordinated debentures | 18,000 | 12,200 | - | - | 12,200 | ||||||||||||
Accrued interest payable | 4,137 | 4,137 | - | 4,137 | - | ||||||||||||
December 31, 2012 | |||||||||||||||||
(Dollars in thousands) | Carrying | Fair Value Measurements | |||||||||||||||
Value | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and due from banks | $ | 63,103 | $ | 63,103 | $ | 6,468 | $ | 56,635 | $ | - | |||||||
Mortgage loans held for sale | 3,887 | 3,967 | - | 3,967 | - | ||||||||||||
Loans, net | 492,740 | 493,998 | - | - | 493,998 | ||||||||||||
Accrued interest receivable | 2,690 | 2,690 | - | - | 2,690 | ||||||||||||
FHLB stock | 4,805 | N/A | N/A | N/A | N/A | ||||||||||||
Financial liabilities: | |||||||||||||||||
Deposits | 922,620 | 934,637 | - | 934,637 | - | ||||||||||||
Advances from Federal Home Loan Bank | 12,596 | 13,944 | - | 13,944 | - | ||||||||||||
Subordinated debentures | 18,000 | 12,695 | - | - | 12,695 | ||||||||||||
Accrued interest payable | 3,121 | 3,121 | - | 3,121 | - | ||||||||||||
The methods and assumptions, not previously presented, used to estimate fair values are described below: | |||||||||||||||||
(a) Cash and due from banks | |||||||||||||||||
The carrying amount of cash on hand approximates fair value and is classified as a Level 1. The carrying amount of cash due from bank accounts is classified as a Level 2. | |||||||||||||||||
(b) Mortgage loans held for sale | |||||||||||||||||
The fair value of mortgage loans held for sale is estimated based upon the binding contracts and quotes from third party investors resulting in a Level 2 classification. | |||||||||||||||||
(c) Loans, net | |||||||||||||||||
Fair values of loans are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. | |||||||||||||||||
(d) FHLB Stock | |||||||||||||||||
It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. | |||||||||||||||||
(e) Deposits | |||||||||||||||||
The carrying amounts of variable rate interest bearing deposits approximate their fair values at the reporting date resulting in a Level 2 classification. Fair values for fixed rate interest bearing deposits are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. | |||||||||||||||||
(f) Advances from Federal Home Loan Bank | |||||||||||||||||
The fair value of the FHLB advances is obtained from the FHLB and is calculated by discounting contractual cash flow using an estimated interest rate based on the current rates available to us for debt of similar remaining maturities and collateral terms resulting in a Level 2 classification. | |||||||||||||||||
(g) Subordinated debentures | |||||||||||||||||
The fair value for subordinated debentures is calculated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. | |||||||||||||||||
(h) Accrued interest receivable/payable | |||||||||||||||||
The carrying amounts of accrued interest approximate fair value resulting in a Level 3 classification based on the level of the asset or liability with which the accrual is associated. | |||||||||||||||||
(i) Off-balance Sheet Instruments | |||||||||||||||||
Fair values for off-balance sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of commitments is not material. | |||||||||||||||||
SUBORDINATED_DEBENTURES
SUBORDINATED DEBENTURES | 9 Months Ended | |
Sep. 30, 2013 | ||
Subordinated Borrowings [Abstract] | ' | |
Subordinated Borrowings Disclosure [Text Block] | ' | |
10 | SUBORDINATED DEBENTURES | |
On October 29, 2010, we exercised our right to defer regularly scheduled interest payments on both issues of junior subordinated notes relating to outstanding trust preferred securities. Together, the junior subordinated notes had an outstanding principal amount of $18 million. We have the right to defer payments of interest for up to 20 consecutive quarterly periods without default or penalty. After such period, we must pay all deferred interest and resume quarterly interest payments or we will be in default. During the deferral period, the statutory trusts, which are wholly owned subsidiaries of First Financial Service Corporation formed to issue the trust preferred securities, will likewise suspend the declaration and payment of dividends on the trust preferred securities. The regular scheduled interest payments will continue to be accrued for payment in the future and reported as an expense for financial statement purposes. As of September 30, 2013, we have deferred a total of twelve quarterly payments and these accrued but unpaid interest payments totaled $4.1 million. | ||
PREFERRED_STOCK
PREFERRED STOCK | 9 Months Ended | |
Sep. 30, 2013 | ||
Equity [Abstract] | ' | |
Preferred Stock [Text Block] | ' | |
11. | PREFERRED STOCK | |
On January 9, 2009, we issued $20 million of cumulative perpetual preferred shares, with a liquidation preference of $1,000 per share (the “Senior Preferred Shares”) to the United States Treasury under its Capital Purchase Program (“CPP”). The Senior Preferred Shares constitute Tier 1 capital and rank senior to our common shares. The Senior Preferred Shares pay cumulative dividends quarterly at a rate of 5% per year for the first five years and will reset to a rate of 9% per year on January 9, 2014. The Senior Preferred Shares may be redeemed at any time, subject to prior approval from bank regulatory agencies. We also have the ability to defer dividend payments at any time, at our option. | ||
Under the terms of our CPP stock purchase agreement, we also issued the Treasury a warrant to purchase an amount of our common stock equal to 15% of the aggregate amount of the Senior Preferred Shares, or $3 million. The warrant entitles Treasury to purchase 215,983 common shares at a purchase price of $13.89 per share. The initial exercise price for the warrant and the number of shares subject to the warrant were determined by reference to the market price of our common stock calculated on a 20-day trailing average as of December 8, 2008, the date Treasury approved our application. The warrant has a term of 10 years and is potentially dilutive to earnings per share. | ||
Effective with the fourth quarter of 2010, we suspended payment of regular quarterly cash dividends on our Senior Preferred Shares. The dividends will continue to be accrued for payment in the future and reported as a preferred dividend requirement that is deducted from income attributable to common shareholders for financial statement purposes. As of September 30, 2013, we have deferred a total of twelve quarterly payments and these accrued but unpaid dividends totaled $3.2 million. | ||
Participation in the CPP requires a participating institution to comply with a number of restrictions and provisions, including standards for executive compensation and corporate governance that apply only as long as the Senior Preferred Shares are held by Treasury and limitations on share repurchases and the declaration and payment of dividends on common shares. The standard terms of the CPP require that a participating financial institution limit the payment of dividends to the most recent quarterly amount prior to October 14, 2008, which is $0.19 per share in our case. This dividend limitation will remain in effect until the preferred shares are retired. | ||
On April 29, 2013, Treasury sold our Senior Preferred Shares to six funds in an auction. Following the sale, the full $20 million stated value of our Senior Preferred Shares remains outstanding and our obligation to pay deferred and future dividends, currently at an annual rate of 5% and increasing to 9% in January 2014, continues until our Senior Preferred Shares are fully retired. | ||
STOCKHOLDERS_EQUITY
STOCKHOLDERS' EQUITY | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||||||||||||||||||
12 | STOCKHOLDERS’ EQUITY | ||||||||||||||||||||
Regulatory Capital Requirements – The Corporation and the Bank are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can result in regulatory action. | |||||||||||||||||||||
Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. | |||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Corporation and the Bank to maintain minimum amounts and ratios (set forth in the following table) of Total and Tier 1 capital (as defined in the regulations) to risk weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). | |||||||||||||||||||||
As a result of the Consent Order the Bank entered into with the FDIC and KDFI described in greater detail in Note 2, the Bank is categorized as a "troubled institution" by bank regulators, which by definition does not permit the Bank to be considered "well-capitalized". | |||||||||||||||||||||
On March 9, 2012, the Bank entered into a new Consent Order with the FDIC and KDFI. The 2012 Consent Order requires the Bank to achieve the same minimum capital ratios mandated by the January 2011 Consent Order, which are set forth below. See Note 2 for additional information. | |||||||||||||||||||||
Our actual and required capital amounts and ratios are presented below. | |||||||||||||||||||||
(Dollars in thousands) | For Capital | Required by | |||||||||||||||||||
Actual | Adequacy Purposes | Consent Order | |||||||||||||||||||
As of September 30, 2013: | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
Total risk-based capital (to risk-weighted assets) | |||||||||||||||||||||
Consolidated | $ | 68,533 | 11.88 | % | $ | 46,164 | 8 | % | $ | 69,246 | 12 | % | |||||||||
Bank | 75,542 | 13.09 | 46,161 | 8 | 69,241 | 12 | |||||||||||||||
Tier I capital (to risk-weighted assets) | |||||||||||||||||||||
Consolidated | 57,677 | 10 | 23,082 | 4 | N/A | N/A | |||||||||||||||
Bank | 68,258 | 11.83 | 23,080 | 4 | N/A | N/A | |||||||||||||||
Tier I capital (to average assets) | |||||||||||||||||||||
Consolidated | 57,677 | 6.6 | 34,962 | 4 | 78,665 | 9 | |||||||||||||||
Bank | 68,258 | 7.8 | 35,015 | 4 | 78,783 | 9 | |||||||||||||||
(Dollars in thousands) | For Capital | Required by | |||||||||||||||||||
Actual | Adequacy Purposes | Consent Order | |||||||||||||||||||
As of December 31, 2012: | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
Total risk-based capital (to risk-weighted assets) | |||||||||||||||||||||
Consolidated | $ | 68,791 | 11.36 | % | $ | 48,438 | 8 | % | $ | 72,657 | 12 | % | |||||||||
Bank | 73,951 | 12.21 | 48,439 | 8 | 72,658 | 12 | |||||||||||||||
Tier I capital (to risk-weighted assets) | |||||||||||||||||||||
Consolidated | 57,471 | 9.49 | 24,219 | 4 | N/A | N/A | |||||||||||||||
Bank | 66,256 | 10.94 | 24,219 | 4 | N/A | N/A | |||||||||||||||
Tier I capital (to average assets) | |||||||||||||||||||||
Consolidated | 57,471 | 5.67 | 40,580 | 4 | 91,304 | 9 | |||||||||||||||
Bank | 66,256 | 6.53 | 40,608 | 4 | 91,368 | 9 | |||||||||||||||
CHANGES_IN_AND_RECLASSIFICATIO
CHANGES IN AND RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||
Comprehensive Income (Loss) Note [Text Block] | ' | ||||||||
13 | CHANGES IN AND RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME | ||||||||
Changes in accumulated other comprehensive income by component consists of the following: | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 30, 2013 | September 30, 2013 | ||||||||
Unrealized Gains | Unrealized Gains | ||||||||
and Losses on | and Losses on | ||||||||
Available-for-Sale | Available-for-Sale | ||||||||
(Dollars in thousands) | Securities (1) | Securities (1) | |||||||
Beginning balance | $ | -7,285 | $ | 1,270 | |||||
Other comprehensive income (loss) before reclassification | -1,438 | -9,766 | |||||||
Amounts reclassified from accumulated other comprehensive income | -12 | -239 | |||||||
Net other comprehensive income (loss) | -1,450 | -10,005 | |||||||
Ending balance | $ | -8,735 | $ | -8,735 | |||||
(1) All amounts are net of tax. | |||||||||
Reclassifications out of accumulated other comprehensive income consists of the following: | |||||||||
Three months ended September 30, 2013 | |||||||||
(Dollars in thousands) | |||||||||
Amount | |||||||||
Details about | Reclassified From | Affected Line Item | |||||||
Accumulated Other | Accumulated Other | in the | |||||||
Comprehensive | Comprehensive | Consolidated | |||||||
Income Components | Income | Statement of Operations | |||||||
Unrealized gains and losses | $ | 235 | Gain on sale of investments | ||||||
on available-for-sale securities | |||||||||
-223 | Loss on sale of investments | ||||||||
12 | Total before tax | ||||||||
- | Income taxes/(benefits) | ||||||||
Total amount reclassified | $ | 12 | Net income (loss) | ||||||
Nine months ended September 30, 2013 | |||||||||
(Dollars in thousands) | |||||||||
Amount | |||||||||
Details about | Reclassified From | Affected Line Item | |||||||
Accumulated Other | Accumulated Other | in the | |||||||
Comprehensive | Comprehensive | Consolidated | |||||||
Income Components | Income | Statement of Operations | |||||||
Unrealized gains and losses | |||||||||
on available-for-sale securities | $ | 1,078 | Gain on sale of investments | ||||||
-839 | Loss on sale of investments | ||||||||
239 | Total before tax | ||||||||
- | Income taxes/(benefits) | ||||||||
Total amount reclassified | $ | 239 | Net income (loss) | ||||||
BASIS_OF_PRESENTATION_AND_SUMM1
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
Basis of Presentation – The accompanying unaudited consolidated financial statements include the accounts of First Financial Service Corporation (the “Corporation”) and its wholly owned subsidiary, First Federal Savings Bank (the “Bank”). First Federal Savings Bank has three wholly owned subsidiaries, First Service Corporation of Elizabethtown, Heritage Properties, LLC and First Federal Office Park, LLC. Unless the text clearly suggests otherwise, references to "us," "we," or "our" include First Financial Service Corporation and its wholly owned subsidiary, collectively referred to as the “Company”. All significant intercompany transactions and balances have been eliminated in consolidation. | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine month periods ending September 30, 2013 are not necessarily indicative of the results that may occur for the year ending December 31, 2013. For further information, refer to the consolidated financial statements and footnotes thereto included in the Corporation’s annual report on Form 10-K for the period ended December 31, 2012. | |
Reclassification, Policy [Policy Text Block] | ' |
Reclassifications – Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year operations or shareholder’s equity. | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Adoption of New Accounting Standards – Effective February 2013, we adopted, ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive (ASU 2013-02). This guidance is the culmination of the FASB’s deliberation on reporting reclassification adjustments from accumulated other comprehensive income (AOCI). The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income. However, the amendments require disclosure of amounts reclassified out of AOCI in its entirety, by component, on the face of the statement of operations or in the notes thereto. Amounts that are not required to be reclassified in their entirety to net income must be cross-referenced to other disclosures that provide additional detail. This standard was effective for public entities for annual and interim reporting periods beginning after December 15, 2012. The adoption of this update did not have a material impact on the consolidated financial statements. | |
In July 2013, the Financial Accounting Standards Board issued Accounting Standards Update 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). Current GAAP does not include explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The adoption of ASU 2013-11 will require an unrecognized tax benefit, or a portion of an unrecognized tax benefit to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, unless an exception applies. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2013. We are currently evaluating the effect that the provisions of ASU 2013-11 will have on the consolidated financial statements. | |
SECURITIES_Tables
SECURITIES (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||
Marketable Securities [Table Text Block] | ' | |||||||||||||||||||
The amortized cost basis and fair values of securities are as follows: | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||
(Dollars in thousands) | Amortized | Unrealized | Unrealized | |||||||||||||||||
Cost | Gains | Losses | Fair Value | |||||||||||||||||
Securities available-for-sale: | ||||||||||||||||||||
September 30, 2013: | ||||||||||||||||||||
Government-sponsored | $ | 119,475 | $ | 35 | $ | -4,960 | $ | 114,550 | ||||||||||||
mortgage-backed residential | ||||||||||||||||||||
Government-sponsored | 78,732 | 300 | -1,290 | 77,742 | ||||||||||||||||
collateralized mortgage obligations | ||||||||||||||||||||
Asset backed-collateralized loan obligations | 33,102 | - | -446 | 32,656 | ||||||||||||||||
State and municipal | 12,257 | 423 | -14 | 12,666 | ||||||||||||||||
Corporate bonds | 52,794 | 222 | -447 | 52,569 | ||||||||||||||||
Total | $ | 296,360 | $ | 980 | $ | -7,157 | $ | 290,183 | ||||||||||||
December 31, 2012: | ||||||||||||||||||||
U.S. Treasury and agencies | $ | 8,284 | $ | 7 | $ | -13 | $ | 8,278 | ||||||||||||
Government-sponsored | 144,617 | 774 | -502 | 144,889 | ||||||||||||||||
mortgage-backed residential | ||||||||||||||||||||
Government-sponsored | 148,460 | 2,033 | -346 | 150,147 | ||||||||||||||||
collateralized mortgage obligations | ||||||||||||||||||||
Private asset backed | 4,981 | 151 | - | 5,132 | ||||||||||||||||
State and municipal | 11,394 | 1,324 | - | 12,718 | ||||||||||||||||
Corporate bonds | 32,567 | 433 | -33 | 32,967 | ||||||||||||||||
Total | $ | 350,303 | $ | 4,722 | $ | -894 | $ | 354,131 | ||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||||||
The amortized cost and fair value of securities at September 30, 2013, by contractual maturity, are shown below. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. | ||||||||||||||||||||
Available for Sale | ||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||
(Dollars in thousands) | Cost | Value | ||||||||||||||||||
Due in one year or less | $ | 3,064 | $ | 3,068 | ||||||||||||||||
Due after one year through five years | 49,485 | 49,406 | ||||||||||||||||||
Due after five years through ten years | 4,751 | 4,624 | ||||||||||||||||||
Due after ten years | 7,751 | 8,137 | ||||||||||||||||||
Investment securities with no single | ||||||||||||||||||||
maturity date: | ||||||||||||||||||||
Government-sponsored mortgage-backed | 119,475 | 114,550 | ||||||||||||||||||
residential | ||||||||||||||||||||
Government-sponsored collateralized | 78,732 | 77,742 | ||||||||||||||||||
mortgage obligations | ||||||||||||||||||||
Asset backed-collateralized loan | 33,102 | 32,656 | ||||||||||||||||||
obligations | ||||||||||||||||||||
$ | 296,360 | $ | 290,183 | |||||||||||||||||
Schedule of Realized Gain (Loss) [Table Text Block] | ' | |||||||||||||||||||
The following schedule shows the proceeds from sales of available-for-sale securities and the gross realized gains and losses on those sales: | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Proceeds from sales | $ | 24,295 | $ | 127,569 | $ | 125,351 | $ | 214,830 | ||||||||||||
Gross realized gains | 235 | 2,054 | 1,078 | 3,363 | ||||||||||||||||
Gross realized losses | 223 | 350 | 839 | 653 | ||||||||||||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | ' | |||||||||||||||||||
Securities with unrealized losses at September 30, 2013 and December 31, 2012 aggregated by major security type and length of time in a continuous unrealized loss position are as follows: | ||||||||||||||||||||
30-Sep-13 | Less than 12 Months | 12 Months or More | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
Description of Securities | Value | Loss | Value | Loss | Value | Loss | ||||||||||||||
Government-sponsored | $ | 103,205 | $ | -4,608 | $ | 8,658 | $ | -352 | $ | 111,863 | $ | -4,960 | ||||||||
mortgage-backed residential | ||||||||||||||||||||
Government-sponsored collateralized | 40,463 | -1,013 | 6,739 | -277 | 47,202 | -1,290 | ||||||||||||||
mortgage obligations | ||||||||||||||||||||
Asset backed-collateralized loan obligations | 32,656 | -446 | - | - | 32,656 | -446 | ||||||||||||||
State and municipal | 3,614 | -14 | - | - | 3,614 | -14 | ||||||||||||||
Corporate bonds | 24,769 | -447 | - | - | 24,769 | -447 | ||||||||||||||
Total temporarily impaired | $ | 204,707 | $ | -6,528 | $ | 15,397 | $ | -629 | $ | 220,104 | $ | -7,157 | ||||||||
31-Dec-12 | Less than 12 Months | 12 Months or More | Total | |||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
Description of Securities | Value | Loss | Value | Loss | Value | Loss | ||||||||||||||
U.S. Treasury and agencies | $ | 3,255 | $ | -13 | $ | - | $ | - | $ | 3,255 | $ | -13 | ||||||||
Government-sponsored | 82,137 | -502 | - | - | 82,137 | -502 | ||||||||||||||
mortgage-backed residential | ||||||||||||||||||||
Government-sponsored collateralized | 33,275 | -346 | - | - | 33,275 | -346 | ||||||||||||||
mortgage obligations | ||||||||||||||||||||
Corporate bonds | 5,731 | -33 | - | - | 5,731 | -33 | ||||||||||||||
Total temporarily impaired | $ | 124,398 | $ | -894 | $ | - | $ | - | $ | 124,398 | $ | -894 | ||||||||
Schedule of Roll-forward of Credit Losses Recognized in Earnings [Table Text Block] | ' | |||||||||||||||||||
The table below presents a roll-forward of the credit losses recognized in earnings. During 2012, all of our trust preferred securities were either called or sold which represented the remaining balance in the OTTI roll-forward. | ||||||||||||||||||||
(Dollars in thousands) | Three Months Ended | Nine Months Ended | ||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||
2012 | 2012 | |||||||||||||||||||
Beginning balance | $ | 2,104 | $ | 2,078 | ||||||||||||||||
Increases to the amount related to the credit loss for which | - | 26 | ||||||||||||||||||
other-than-temporary impairment was previously recognized | ||||||||||||||||||||
Sales/call of securities | -628 | -628 | ||||||||||||||||||
Ending balance | $ | 1,476 | $ | 1,476 | ||||||||||||||||
LOANS_Tables
LOANS (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||||||||||||||||||||||
Loans are summarized as follows: | |||||||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | |||||||||||||||||||||||||||
Commercial Real Estate (CRE): | |||||||||||||||||||||||||||||
Other-CRE other than Land | |||||||||||||||||||||||||||||
Development and Building Lots | $ | 263,509 | $ | 290,424 | |||||||||||||||||||||||||
Land Development | 22,395 | 28,310 | |||||||||||||||||||||||||||
Building Lots | 1,599 | 2,151 | |||||||||||||||||||||||||||
Residential mortgage | 101,281 | 110,025 | |||||||||||||||||||||||||||
Consumer and home equity | 53,988 | 57,888 | |||||||||||||||||||||||||||
Commercial | 20,394 | 19,931 | |||||||||||||||||||||||||||
Indirect consumer | 12,938 | 16,211 | |||||||||||||||||||||||||||
476,104 | 524,940 | ||||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||
Net deferred loan origination fees | -73 | -105 | |||||||||||||||||||||||||||
Allowance for loan losses | -12,224 | -17,265 | |||||||||||||||||||||||||||
-12,297 | -17,370 | ||||||||||||||||||||||||||||
Net Loans | $ | 463,807 | $ | 507,570 | |||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables by Portfolio Segment [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following tables present the activity in the allowance for loan losses by portfolio segment for the quarter and nine months ending September 30, 2013 and 2012: | |||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||
30-Sep-13 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 908 | $ | 14,054 | $ | 375 | $ | 396 | $ | 214 | $ | 15,947 | |||||||||||||||||
Provision for loan losses | 177 | -790 | 49 | 67 | -3 | -500 | |||||||||||||||||||||||
Charge-offs | -48 | -3,076 | -73 | -111 | -45 | -3,353 | |||||||||||||||||||||||
Recoveries | 10 | 63 | 13 | 8 | 36 | 130 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,047 | $ | 10,251 | $ | 364 | $ | 360 | $ | 202 | $ | 12,224 | |||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||
30-Sep-13 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 1,236 | $ | 14,815 | $ | 501 | $ | 442 | $ | 271 | $ | 17,265 | |||||||||||||||||
Provision for loan losses | -95 | -1,175 | -81 | 90 | -64 | -1,325 | |||||||||||||||||||||||
Charge-offs | -142 | -3,528 | -73 | -209 | -102 | -4,054 | |||||||||||||||||||||||
Recoveries | 48 | 139 | 17 | 37 | 97 | 338 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,047 | $ | 10,251 | $ | 364 | $ | 360 | $ | 202 | $ | 12,224 | |||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||
30-Sep-12 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 1,483 | $ | 12,169 | $ | 803 | $ | 525 | $ | 320 | $ | 15,300 | |||||||||||||||||
Provision for loan losses | -156 | 2,831 | 16 | 37 | -57 | 2,671 | |||||||||||||||||||||||
Change in allowance associated with probable | |||||||||||||||||||||||||||||
branch divestitures | 18 | 212 | -30 | 1 | - | 201 | |||||||||||||||||||||||
Charge-offs | -126 | -234 | - | -53 | -58 | -471 | |||||||||||||||||||||||
Recoveries | 13 | 51 | - | -39 | 98 | 123 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,232 | $ | 15,029 | $ | 789 | $ | 471 | $ | 303 | $ | 17,824 | |||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||
30-Sep-12 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning Balance | $ | 1,422 | $ | 13,830 | $ | 922 | $ | 610 | $ | 397 | $ | 17,181 | |||||||||||||||||
Provision for loan losses | 66 | 4,504 | -36 | 135 | -71 | 4,598 | |||||||||||||||||||||||
Change in allowance associated with probable | |||||||||||||||||||||||||||||
branch divestitures | -7 | -369 | -36 | -56 | - | -468 | |||||||||||||||||||||||
Charge-offs | -313 | -3,038 | -62 | -229 | -157 | -3,799 | |||||||||||||||||||||||
Recoveries | 64 | 102 | 1 | 11 | 134 | 312 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,232 | $ | 15,029 | $ | 789 | $ | 471 | $ | 303 | $ | 17,824 | |||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method as of September 30, 2013 and 2012 and December 31, 2012: | |||||||||||||||||||||||||||||
September 30, 2013 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 197 | $ | 3,550 | $ | 68 | $ | 51 | $ | - | $ | 3,866 | |||||||||||||||||
Collectively evaluated for impairment | 850 | 6,701 | 296 | 309 | 202 | 8,358 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,047 | $ | 10,251 | $ | 364 | $ | 360 | $ | 202 | $ | 12,224 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 1,353 | $ | 40,629 | $ | 3,015 | $ | 620 | $ | - | $ | 45,617 | |||||||||||||||||
Loans collectively evaluated for impairment | 19,041 | 246,874 | 98,266 | 53,368 | 12,938 | 430,487 | |||||||||||||||||||||||
Total ending loans balance | $ | 20,394 | $ | 287,503 | $ | 101,281 | $ | 53,988 | $ | 12,938 | $ | 476,104 | |||||||||||||||||
31-Dec-12 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 252 | $ | 7,593 | $ | 86 | $ | 51 | $ | - | $ | 7,982 | |||||||||||||||||
Collectively evaluated for impairment | 984 | 7,222 | 415 | 391 | 271 | 9,283 | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,236 | $ | 14,815 | $ | 501 | $ | 442 | $ | 271 | $ | 17,265 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 1,071 | $ | 43,513 | $ | 213 | $ | 188 | $ | - | $ | 44,985 | |||||||||||||||||
Loans collectively evaluated for impairment | 18,860 | 277,372 | 109,812 | 57,700 | 16,211 | 479,955 | |||||||||||||||||||||||
Total ending loans balance | $ | 19,931 | $ | 320,885 | $ | 110,025 | $ | 57,888 | $ | 16,211 | $ | 524,940 | |||||||||||||||||
30-Sep-12 | Commercial | Residential | Consumer & | Indirect | |||||||||||||||||||||||||
Commercial | Real Estate | Mortgage | Home Equity | Consumer | Total | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 229 | $ | 8,000 | $ | 378 | $ | 95 | $ | 7 | $ | 8,709 | |||||||||||||||||
Collectively evaluated for impairment | 1,003 | 7,029 | 411 | 376 | 296 | 9,115 | |||||||||||||||||||||||
Loans held for sale | - | - | - | - | - | - | |||||||||||||||||||||||
Total ending allowance balance | $ | 1,232 | $ | 15,029 | $ | 789 | $ | 471 | $ | 303 | $ | 17,824 | |||||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 1,029 | $ | 57,655 | $ | 1,093 | $ | 255 | $ | 57 | $ | 60,089 | |||||||||||||||||
Loans collectively evaluated for impairment | 20,070 | 303,891 | 112,800 | 58,117 | 18,423 | 513,301 | |||||||||||||||||||||||
Loans held for sale | -775 | -36,878 | -3,583 | -5,616 | - | -46,852 | |||||||||||||||||||||||
Total ending loans balance | $ | 20,324 | $ | 324,668 | $ | 110,310 | $ | 52,756 | $ | 18,480 | $ | 526,538 | |||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following tables’ present loans individually evaluated for impairment by class of loans as of September 30, 2013 and 2012 and December 31, 2012. The difference between the unpaid principal balance and recorded investment represents partial write downs/charge offs taken on individual impaired credits. The recorded investment and average recorded investment in loans exclude accrued interest receivable and loan origination fees. | |||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||||||
30-Sep-13 | Unpaid | Allowance for | Average | Interest | Cash Basis | Average | Interest | Interest | |||||||||||||||||||||
Principal | Recorded | Loan Losses | Recorded | Income | Interest | Recorded | Income | Income | |||||||||||||||||||||
(Dollars in thousands) | Balance | Investment | Allocated | Investment | Recognized | Recognized | Investment | Recognized | Recognized | ||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | 1,177 | $ | 973 | $ | - | $ | 1,001 | $ | 9 | $ | 9 | $ | 815 | $ | 18 | $ | 18 | |||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 2,220 | 2,195 | - | 2,253 | 27 | 27 | 3,125 | 114 | 114 | ||||||||||||||||||||
Building Lots | 477 | 212 | - | 212 | - | - | 212 | - | - | ||||||||||||||||||||
Other | 25,475 | 20,048 | - | 14,964 | 161 | 161 | 14,042 | 444 | 444 | ||||||||||||||||||||
Residential Mortgage | 2,525 | 2,525 | - | 2,733 | 21 | 21 | 2,212 | 45 | 45 | ||||||||||||||||||||
Consumer and Home Equity | 357 | 357 | - | 376 | 3 | 3 | 293 | 6 | 6 | ||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 380 | 380 | 197 | 283 | 2 | 2 | 310 | 7 | 7 | ||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 2,206 | 2,206 | 1,015 | 2,568 | 31 | 31 | 2,621 | 95 | 95 | ||||||||||||||||||||
Building Lots | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
Other | 15,970 | 15,968 | 2,535 | 18,183 | 195 | 195 | 18,980 | 599 | 599 | ||||||||||||||||||||
Residential Mortgage | 514 | 490 | 68 | 484 | 4 | 4 | 375 | 8 | 8 | ||||||||||||||||||||
Consumer and Home Equity | 281 | 263 | 51 | 266 | 2 | 2 | 269 | 6 | 6 | ||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
Total | $ | 51,582 | $ | 45,617 | $ | 3,866 | $ | 43,323 | $ | 455 | $ | 455 | $ | 43,254 | $ | 1,342 | $ | 1,342 | |||||||||||
31-Dec-12 | Unpaid | Allowance for | Average | Interest | Cash Basis | ||||||||||||||||||||||||
Principal | Recorded | Loan Losses | Recorded | Income | Interest | ||||||||||||||||||||||||
(Dollars in thousands) | Balance | Investment | Allocated | Investment | Recognized | Recognized | |||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | 588 | $ | 588 | $ | - | $ | 1,070 | $ | 39 | $ | 39 | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 5,595 | 4,873 | - | 5,728 | 237 | 237 | |||||||||||||||||||||||
Building Lots | 477 | 212 | - | 810 | 14 | 14 | |||||||||||||||||||||||
Other | 22,121 | 16,500 | - | 25,051 | 961 | 961 | |||||||||||||||||||||||
Residential Mortgage | - | - | - | - | - | - | |||||||||||||||||||||||
Consumer and Home Equity | - | - | - | - | - | - | |||||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 483 | 483 | 252 | 564 | 21 | 21 | |||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 2,674 | 2,674 | 899 | 2,436 | 101 | 101 | |||||||||||||||||||||||
Building Lots | - | - | - | 191 | 3 | 3 | |||||||||||||||||||||||
Other | 19,254 | 19,254 | 6,694 | 20,075 | 772 | 772 | |||||||||||||||||||||||
Residential Mortgage | 213 | 213 | 86 | 1,191 | 24 | 24 | |||||||||||||||||||||||
Consumer and Home Equity | 188 | 188 | 51 | 260 | 6 | 6 | |||||||||||||||||||||||
Indirect Consumer | - | - | - | 54 | 1 | 1 | |||||||||||||||||||||||
Total | $ | 51,593 | $ | 44,985 | $ | 7,982 | $ | 57,430 | $ | 2,179 | $ | 2,179 | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||||||||||||||
30-Sep-12 | Unpaid | Allowance for | Average | Interest | Cash Basis | Average | Interest | Cash Basis | |||||||||||||||||||||
Principal | Recorded | Loan Losses | Recorded | Income | Interest | Recorded | Income | Interest | |||||||||||||||||||||
(Dollars in thousands) | Balance | Investment | Allocated | Investment | Recognized | Recognized | Investment | Recognized | Recognized | ||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial | $ | 844 | $ | 722 | $ | - | $ | 857 | $ | 6 | $ | 6 | $ | 1,191 | $ | 34 | $ | 34 | |||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 8,780 | 6,290 | - | 6,031 | 71 | 71 | 5,941 | 177 | 177 | ||||||||||||||||||||
Building Lots | 1,036 | 683 | - | 857 | 7 | 7 | 959 | 13 | 13 | ||||||||||||||||||||
Other | 18,577 | 15,911 | - | 22,319 | 222 | 222 | 27,189 | 781 | 781 | ||||||||||||||||||||
Residential Mortgage | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
Consumer and Home Equity | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial | 307 | 307 | 229 | 356 | 3 | 3 | 584 | 17 | 17 | ||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 1,950 | 1,950 | 316 | 1,345 | 16 | 16 | 2,377 | 71 | 71 | ||||||||||||||||||||
Building Lots | - | - | - | - | - | - | 238 | 3 | 3 | ||||||||||||||||||||
Other | 34,027 | 32,821 | 7,684 | 26,524 | 264 | 264 | 20,281 | 583 | 583 | ||||||||||||||||||||
Residential Mortgage | 1,119 | 1,093 | 378 | 1,096 | 5 | 5 | 1,436 | 29 | 29 | ||||||||||||||||||||
Consumer and Home Equity | 255 | 255 | 95 | 279 | 1 | 1 | 278 | 4 | 4 | ||||||||||||||||||||
Indirect Consumer | 57 | 57 | 7 | 48 | - | - | 68 | 1 | 1 | ||||||||||||||||||||
Total | $ | 66,952 | $ | 60,089 | $ | 8,709 | $ | 59,712 | $ | 595 | $ | 595 | $ | 60,542 | $ | 1,713 | $ | 1,713 | |||||||||||
Schedule of Recorded Investment in Restructured, Nonaccrual and Loans Past Due [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following tables present the recorded investment in restructured, non-accrual and loans past due over 90 days still on accrual by class of loans as of September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||
Restructured | |||||||||||||||||||||||||||||
Loans Past Due | Loans Past Due | ||||||||||||||||||||||||||||
30-Sep-13 | Over 90 Days | Over 90 Days | Non-Accrual | ||||||||||||||||||||||||||
Restructured on | Restructured on | Still | Still | Excluding | |||||||||||||||||||||||||
(Dollars in thousands) | Non-Accrual Status | Accrual Status | Accruing | Accruing | Restructured | ||||||||||||||||||||||||
Commercial | $ | - | $ | 183 | $ | - | $ | - | $ | 434 | |||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | 1,892 | - | - | 302 | ||||||||||||||||||||||||
Building Lots | - | - | - | - | 212 | ||||||||||||||||||||||||
Other | 7,819 | 17,223 | 4,837 | 2,238 | 4,115 | ||||||||||||||||||||||||
Residential Mortgage | 108 | 192 | - | - | 1,162 | ||||||||||||||||||||||||
Consumer and Home Equity | - | 97 | - | - | 262 | ||||||||||||||||||||||||
Indirect Consumer | - | - | - | - | 24 | ||||||||||||||||||||||||
Total | $ | 7,927 | $ | 19,587 | $ | 4,837 | $ | 2,238 | $ | 6,511 | |||||||||||||||||||
Restructured | |||||||||||||||||||||||||||||
Loans Past Due | Loans Past Due | ||||||||||||||||||||||||||||
31-Dec-12 | Over 90 Days | Over 90 Days | Non-Accrual | ||||||||||||||||||||||||||
Restructured on | Restructured on | Still | Still | Excluding | |||||||||||||||||||||||||
(Dollars in thousands) | Non-Accrual Status | Accrual Status | Accruing | Accruing | Restructured | ||||||||||||||||||||||||
Commercial | $ | 31 | $ | 221 | $ | - | $ | - | $ | 562 | |||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 675 | 3,053 | - | - | 695 | ||||||||||||||||||||||||
Building Lots | - | 170 | - | - | 212 | ||||||||||||||||||||||||
Other | 9,047 | 19,080 | - | - | 9,356 | ||||||||||||||||||||||||
Residential Mortgage | - | 303 | - | - | 827 | ||||||||||||||||||||||||
Consumer and Home Equity | - | 24 | - | - | 37 | ||||||||||||||||||||||||
Indirect Consumer | - | - | - | - | 13 | ||||||||||||||||||||||||
Total | $ | 9,753 | $ | 22,851 | $ | - | $ | - | $ | 11,702 | |||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans as of September 30, 2013 and December 31, 2012 by class of loans: | |||||||||||||||||||||||||||||
30-Sep-13 | 30-59 | 60-89 | Greater than | ||||||||||||||||||||||||||
Days | Days | 90 Days | Total | Loans Not | |||||||||||||||||||||||||
(Dollars in thousands) | Past Due | Past Due | Past Due | Past Due | Past Due | Total | |||||||||||||||||||||||
Commercial | $ | - | $ | - | $ | 434 | $ | 434 | $ | 19,960 | $ | 20,394 | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 2,206 | - | 302 | 2,508 | 19,887 | 22,395 | |||||||||||||||||||||||
Building Lots | - | - | 212 | 212 | 1,387 | 1,599 | |||||||||||||||||||||||
Other | 3,861 | 23 | 19,009 | 22,893 | 240,616 | 263,509 | |||||||||||||||||||||||
Residential Mortgage | 279 | 923 | 1,270 | 2,472 | 98,809 | 101,281 | |||||||||||||||||||||||
Consumer and Home Equity | 324 | 28 | 262 | 614 | 53,374 | 53,988 | |||||||||||||||||||||||
Indirect Consumer | 141 | 30 | 24 | 195 | 12,743 | 12,938 | |||||||||||||||||||||||
Total | $ | 6,811 | $ | 1,004 | $ | 21,513 | $ | 29,328 | $ | 446,776 | $ | 476,104 | |||||||||||||||||
31-Dec-12 | 30-59 | 60-89 | Greater than | ||||||||||||||||||||||||||
Days | Days | 90 Days | Total | Loans Not | |||||||||||||||||||||||||
(Dollars in thousands) | Past Due | Past Due | Past Due | Past Due | Past Due | Total | |||||||||||||||||||||||
Commercial | $ | - | $ | 95 | $ | 562 | $ | 657 | $ | 19,274 | $ | 19,931 | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | 361 | - | 1,228 | 1,589 | 26,721 | 28,310 | |||||||||||||||||||||||
Building Lots | - | - | 212 | 212 | 1,939 | 2,151 | |||||||||||||||||||||||
Other | 1,264 | 1,239 | 13,449 | 15,952 | 274,472 | 290,424 | |||||||||||||||||||||||
Residential Mortgage | 3,588 | 995 | 827 | 5,410 | 104,615 | 110,025 | |||||||||||||||||||||||
Consumer and Home Equity | 351 | 255 | 45 | 651 | 57,237 | 57,888 | |||||||||||||||||||||||
Indirect Consumer | 246 | 130 | 13 | 389 | 15,822 | 16,211 | |||||||||||||||||||||||
Total | $ | 5,810 | $ | 2,714 | $ | 16,336 | $ | 24,860 | $ | 500,080 | $ | 524,940 | |||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following tables present loans by class modified as troubled debt restructurings that occurred during the periods ending September 30, 2013 and 2012: | |||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||
Number | Recorded | Recorded | Number | Recorded | Recorded | ||||||||||||||||||||||||
(Dollars in thousands) | of Loans | Investment | Investment | of Loans | Investment | Investment | |||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||
Commercial | - | $ | - | $ | - | - | $ | - | $ | - | |||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | - | - | - | - | - | |||||||||||||||||||||||
Building Lots | - | - | - | - | - | - | |||||||||||||||||||||||
Other | - | - | - | 1 | 58 | 58 | |||||||||||||||||||||||
Residential Mortgage | - | - | - | - | - | - | |||||||||||||||||||||||
Consumer and Home Equity | - | - | - | - | - | - | |||||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | |||||||||||||||||||||||
Total | - | $ | - | $ | - | 1 | $ | 58 | $ | 58 | |||||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | ||||||||||||||||||||||||||
Number | Recorded | Recorded | Number | Recorded | Recorded | ||||||||||||||||||||||||
(Dollars in thousands) | of Loans | Investment | Investment | of Loans | Investment | Investment | |||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||
Commercial | - | $ | - | $ | - | 1 | $ | 1,094 | $ | 1,094 | |||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | - | - | 3 | 4,143 | 4,002 | |||||||||||||||||||||||
Building Lots | - | - | - | 2 | 370 | 370 | |||||||||||||||||||||||
Other | 5 | 3,512 | 3,512 | 6 | 1,175 | 1,175 | |||||||||||||||||||||||
Residential Mortgage | - | - | - | - | - | - | |||||||||||||||||||||||
Consumer and Home Equity | 2 | 74 | 74 | - | - | - | |||||||||||||||||||||||
Indirect Consumer | - | - | - | - | - | - | |||||||||||||||||||||||
Total | 7 | $ | 3,586 | $ | 3,586 | 12 | $ | 6,782 | $ | 6,641 | |||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables Subsequently Defaulted [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following tables present loans by class modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the periods ending September 30, 2013 and 2012: | |||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||||||
Number | Recorded | Number | Recorded | ||||||||||||||||||||||||||
(Dollars in thousands) | of Loans | Investment | of Loans | Investment | |||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||
Commercial | - | $ | - | - | $ | - | |||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | - | - | - | |||||||||||||||||||||||||
Building Lots | - | - | - | - | |||||||||||||||||||||||||
Other | - | - | - | - | |||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | |||||||||||||||||||||||||
Residential Mortgage | - | - | - | - | |||||||||||||||||||||||||
Consumer and Home Equity | - | - | - | - | |||||||||||||||||||||||||
Indirect Consumer | - | - | - | - | |||||||||||||||||||||||||
Total | - | $ | - | - | $ | - | |||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
30-Sep-13 | 30-Sep-12 | ||||||||||||||||||||||||||||
Number | Recorded | Number | Recorded | ||||||||||||||||||||||||||
(Dollars in thousands) | of Loans | Investment | of Loans | Investment | |||||||||||||||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||||||
Commercial | - | $ | - | - | $ | - | |||||||||||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | - | 2 | 3,278 | |||||||||||||||||||||||||
Building Lots | - | - | - | - | |||||||||||||||||||||||||
Other | - | - | 1 | 10,068 | |||||||||||||||||||||||||
Real Estate Construction | - | - | - | - | |||||||||||||||||||||||||
Residential Mortgage | - | - | - | - | |||||||||||||||||||||||||
Consumer and Home Equity | - | - | - | - | |||||||||||||||||||||||||
Indirect Consumer | - | - | - | - | |||||||||||||||||||||||||
Total | - | $ | - | 3 | $ | 13,346 | |||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||||||||
As of September 30, 2013and December 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | |||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||
(Dollars in thousands) | Not Rated | Pass | Criticized | Substandard | Doubtful | Loss | Total | ||||||||||||||||||||||
Commercial | $ | - | $ | 19,041 | $ | - | $ | 1,353 | $ | - | $ | - | $ | 20,394 | |||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | 14,706 | 3,288 | 4,401 | - | - | 22,395 | ||||||||||||||||||||||
Building Lots | - | 931 | 456 | 212 | - | - | 1,599 | ||||||||||||||||||||||
Other | - | 209,660 | 17,793 | 36,056 | - | - | 263,509 | ||||||||||||||||||||||
Residential Mortgage | 97,421 | - | 845 | 3,015 | - | - | 101,281 | ||||||||||||||||||||||
Consumer and Home Equity | 53,192 | - | 73 | 723 | - | - | 53,988 | ||||||||||||||||||||||
Indirect Consumer | 12,899 | - | 1 | 38 | - | - | 12,938 | ||||||||||||||||||||||
Total | $ | 163,512 | $ | 244,338 | $ | 22,456 | $ | 45,798 | $ | - | $ | - | $ | 476,104 | |||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||
(Dollars in thousands) | Not Rated | Pass | Criticized | Substandard | Doubtful | Loss | Total | ||||||||||||||||||||||
Commercial | $ | - | $ | 16,736 | $ | 2,000 | $ | 1,195 | $ | - | $ | - | $ | 19,931 | |||||||||||||||
Commercial Real Estate: | |||||||||||||||||||||||||||||
Land Development | - | 17,744 | 3,059 | 7,507 | - | - | 28,310 | ||||||||||||||||||||||
Building Lots | - | 1,447 | 492 | 212 | - | - | 2,151 | ||||||||||||||||||||||
Other | - | 235,954 | 18,297 | 36,173 | - | - | 290,424 | ||||||||||||||||||||||
Residential Mortgage | 105,148 | - | 442 | 4,435 | - | - | 110,025 | ||||||||||||||||||||||
Consumer and Home Equity | 56,593 | - | 569 | 726 | - | - | 57,888 | ||||||||||||||||||||||
Indirect Consumer | 16,129 | - | 10 | 72 | - | - | 16,211 | ||||||||||||||||||||||
Total | $ | 177,870 | $ | 271,881 | $ | 24,869 | $ | 50,320 | $ | - | $ | - | $ | 524,940 | |||||||||||||||
Schedule of Performing and Non Performing Loans by Class of Loans [Table Text Block] | ' | ||||||||||||||||||||||||||||
The following table presents the unpaid principal balance in residential mortgage, consumer and home equity and indirect consumer loans based on payment activity as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||
30-Sep-13 | Residential | Consumer & | Indirect | ||||||||||||||||||||||||||
(Dollars in thousands) | Mortgage | Home Equity | Consumer | ||||||||||||||||||||||||||
Performing | $ | 100,011 | $ | 53,726 | $ | 12,914 | |||||||||||||||||||||||
Restructured on non-accrual | 108 | - | - | ||||||||||||||||||||||||||
Non-accrual | 1,162 | 262 | 24 | ||||||||||||||||||||||||||
Total | $ | 101,281 | $ | 53,988 | $ | 12,938 | |||||||||||||||||||||||
31-Dec-12 | Residential | Consumer & | Indirect | ||||||||||||||||||||||||||
(Dollars in thousands) | Mortgage | Home Equity | Consumer | ||||||||||||||||||||||||||
Performing | $ | 109,198 | $ | 57,851 | $ | 16,198 | |||||||||||||||||||||||
Restructured on non-accrual | - | - | - | ||||||||||||||||||||||||||
Non-accrual | 827 | 37 | 13 | ||||||||||||||||||||||||||
Total | $ | 110,025 | $ | 57,888 | $ | 16,211 | |||||||||||||||||||||||
REAL_ESTATE_ACQUIRED_THROUGH_F1
REAL ESTATE ACQUIRED THROUGH FORECLOSURE (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Real Estate [Abstract] | ' | |||||||||||||
Schedule of Real Estate Properties [Table Text Block] | ' | |||||||||||||
A summary of the real estate acquired through foreclosure activity is as follows: | ||||||||||||||
September 30, | December 31, | |||||||||||||
(Dollars in thousands) | 2013 | 2012 | ||||||||||||
Beginning balance, January 1, | $ | 22,286 | $ | 29,083 | ||||||||||
Additions | 2,262 | 18,100 | ||||||||||||
Net proceeds from sale of properties | -13,883 | -19,250 | ||||||||||||
Writedowns | -1,585 | -5,147 | ||||||||||||
Change in valuation allowance | -221 | -500 | ||||||||||||
Ending balance | $ | 8,859 | $ | 22,286 | ||||||||||
Summary of Real Estate Acquired through Foreclosure Valuation Allowance [Table Text Block] | ' | |||||||||||||
A summary of the real estate acquired through foreclosure valuation allowance activity is as follows: | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(Dollars in thousands) | ||||||||||||||
Beginning balance | $ | 721 | $ | - | $ | 500 | $ | - | ||||||
Provision | 365 | - | 1,957 | - | ||||||||||
Writedowns and loss on sale | -365 | - | -1,736 | - | ||||||||||
Ending balance | $ | 721 | $ | - | $ | 721 | $ | - | ||||||
EARNINGS_LOSS_PER_SHARE_Tables
EARNINGS (LOSS) PER SHARE (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | ' | |||||||||||||
The reconciliation of the numerators and denominators of the basic and diluted EPS is as follows: | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
(Amounts in thousands, | September 30, | September 30, | ||||||||||||
except per share data) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Basic: | ||||||||||||||
Net income/(loss) | $ | 1,467 | $ | -751 | $ | 463 | $ | -5,180 | ||||||
Less: | ||||||||||||||
Preferred stock dividends | -250 | -250 | -750 | -750 | ||||||||||
Accretion on preferred stock discount | -14 | -14 | -41 | -41 | ||||||||||
Net income (loss) available to common shareholders | $ | 1,203 | $ | -1,015 | $ | -328 | $ | -5,971 | ||||||
Weighted average common shares | 4,860 | 4,773 | 4,816 | 4,767 | ||||||||||
Diluted: | ||||||||||||||
Weighted average common shares | 4,860 | 4,773 | 4,816 | 4,767 | ||||||||||
Dilutive effect of stock options and warrants | 45 | - | - | - | ||||||||||
Weighted average common and incremental shares | 4,905 | 4,773 | 4,816 | 4,767 | ||||||||||
Earnings (Loss) Per Common Share: | ||||||||||||||
Basic | $ | 0.25 | $ | -0.21 | $ | -0.07 | $ | -1.25 | ||||||
Diluted | $ | 0.25 | $ | -0.21 | $ | -0.07 | $ | -1.25 | ||||||
STOCK_BASED_COMPENSATION_PLAN_
STOCK BASED COMPENSATION PLAN (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | ' | ||||||||||||
The weighted-average assumptions for options granted during the nine months ended September 30, 2013 and the resulting estimated weighted average fair value per share is presented below. | |||||||||||||
September 30, | |||||||||||||
2013 | |||||||||||||
Assumptions: | |||||||||||||
Risk-free interest rate | 2.05 | % | |||||||||||
Expected dividend yield | - | % | |||||||||||
Expected life (years) | 10 | ||||||||||||
Expected common stock | |||||||||||||
market price volatility | 65 | % | |||||||||||
Estimated fair value per share | $ | 1.96 | |||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | ' | ||||||||||||
A summary of option activity under the 2006 Plan for the nine months ended September 30, 2013 is presented below: | |||||||||||||
Weighted | |||||||||||||
Weighted | Average | ||||||||||||
Number | Average | Remaining | Aggregate | ||||||||||
of | Exercise | Contractual | Intrinsic | ||||||||||
Options | Price | Term | Value | ||||||||||
(Dollars In Thousands) | |||||||||||||
Outstanding, beginning of period | 392,740 | $ | 9.16 | ||||||||||
Granted during period | 149,000 | 2.7 | |||||||||||
Terminated during period | -132,390 | 17.95 | |||||||||||
Forfeited during period | -11,350 | 4.18 | |||||||||||
Exercised during period | -200 | 2.05 | |||||||||||
Outstanding, end of period | 397,800 | $ | 3.96 | 8.3 | $ | 449 | |||||||
Eligible for exercise at period end | 85,960 | $ | 7.81 | 6.9 | $ | 55 | |||||||
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||
A summary of changes in our non-vested restricted shares for the nine months ended September 30, 2013 is presented below: | |||||||||||||
Weighted | |||||||||||||
Average | |||||||||||||
Non-vested | Grant Date | ||||||||||||
Shares | Fair Value | ||||||||||||
Outstanding, beginning of period | 32,964 | $ | 3.64 | ||||||||||
Granted during period | 122,972 | 3.05 | |||||||||||
Vested during period | -76,217 | 3.29 | |||||||||||
Terminated during period | -17,250 | 2.84 | |||||||||||
Forfeited during period | - | - | |||||||||||
Outstanding, end of period | 62,469 | $ | 3.13 | ||||||||||
FAIR_VALUE_Tables
FAIR VALUE (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||
Assets measured at fair value on a recurring basis are summarized below: There were no transfers between Level 1 and Level 2 during the periods presented. | |||||||||||||||||
Quoted Prices in | |||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||
September 30, | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||
(Dollars in thousands) | 2013 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
Government-sponsored | $ | 114,550 | $ | - | $ | 114,550 | $ | - | |||||||||
mortgage-backed | |||||||||||||||||
residential | |||||||||||||||||
Government-sponsored | 77,742 | - | 77,742 | - | |||||||||||||
collateralized mortgage | |||||||||||||||||
obligations | |||||||||||||||||
Asset backed- | 32,656 | - | 32,656 | - | |||||||||||||
collateralized loan | |||||||||||||||||
obligations | |||||||||||||||||
State and municipal | 12,666 | - | 12,666 | - | |||||||||||||
Corporate bonds | 52,569 | - | 52,569 | - | |||||||||||||
Total | $ | 290,183 | $ | - | $ | 290,183 | $ | - | |||||||||
Quoted Prices in | |||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||
December 31, | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||
(Dollars in thousands) | 2012 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
U.S. Treasury and agencies | $ | 8,278 | $ | - | $ | 8,278 | $ | - | |||||||||
Government-sponsored | 144,889 | - | 144,889 | - | |||||||||||||
mortgage-backed | |||||||||||||||||
residential | |||||||||||||||||
Government-sponsored | 150,147 | - | 150,147 | - | |||||||||||||
collateralized mortgage | |||||||||||||||||
obligations | |||||||||||||||||
Private asset backed | 5,132 | - | 5,132 | - | |||||||||||||
State and municipal | 12,718 | - | 12,718 | - | |||||||||||||
Corporate bonds | 32,967 | - | 32,967 | - | |||||||||||||
Total | $ | 354,131 | $ | - | $ | 354,131 | $ | - | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||
The table below presents a reconciliation for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods ended September 30, 2012. The level 3 assets consist of trust preferred securities which were called or sold in the fourth quarter of 2012. We did not have any Level 3 assets measured at fair value on a recurring basis at September 30, 2013. | |||||||||||||||||
Fair Value Measurements | Fair Value Measurements | ||||||||||||||||
Using Significant | Using Significant | ||||||||||||||||
Unobservable Inputs | Unobservable Inputs | ||||||||||||||||
(Level 3) | (Level 3) | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(Dollars in thousands) | 2012 | 2012 | |||||||||||||||
Beginning balance | $ | 266 | $ | 264 | |||||||||||||
Total gains or losses: | |||||||||||||||||
Impairment charges on securities | - | - | |||||||||||||||
Included in other comprehensive income | 16 | 18 | |||||||||||||||
Purchases | - | - | |||||||||||||||
Sales or calls | -1 | -1 | |||||||||||||||
Settlements | - | - | |||||||||||||||
Transfers in and/or out of Level 3 | - | - | |||||||||||||||
Ending balance | $ | 281 | $ | 281 | |||||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block] | ' | ||||||||||||||||
Assets measured at fair value on a nonrecurring basis are summarized below: | |||||||||||||||||
Quoted Prices in | |||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||
September 30, | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||
(Dollars in thousands) | 2013 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
Impaired loans: | |||||||||||||||||
Commercial | $ | 183 | $ | - | $ | - | $ | 183 | |||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 1,191 | - | - | 1,191 | |||||||||||||
Other | 13,433 | - | - | 13,433 | |||||||||||||
Residential Mortgage | 422 | - | - | 422 | |||||||||||||
Consumer and Home Equity | 212 | - | - | 212 | |||||||||||||
Real estate acquired through foreclosure: | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 918 | - | - | 918 | |||||||||||||
Other | 2,951 | - | - | 2,951 | |||||||||||||
Residential Mortgage | 483 | - | - | 483 | |||||||||||||
Quoted Prices in | |||||||||||||||||
Active Markets for | Significant Other | Significant | |||||||||||||||
December 31, | Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||
(Dollars in thousands) | 2012 | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
Impaired loans: | |||||||||||||||||
Commercial | $ | 231 | $ | - | $ | - | $ | 231 | |||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 1,775 | - | - | 1,775 | |||||||||||||
Other | 12,560 | - | - | 12,560 | |||||||||||||
Residential Mortgage | 127 | - | - | 127 | |||||||||||||
Consumer and Home Equity | 137 | - | - | 137 | |||||||||||||
Real estate acquired through foreclosure: | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 2,459 | - | - | 2,459 | |||||||||||||
Building Lots | 2,220 | - | - | 2,220 | |||||||||||||
Other | 8,350 | - | - | 8,350 | |||||||||||||
Residential Mortgage | 224 | - | - | 224 | |||||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | ' | ||||||||||||||||
The following table presents quantitative information about level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at September 30, 2013. | |||||||||||||||||
Fair | Valuation | Unobservable | Range (Weighted | ||||||||||||||
(Dollars in thousands) | Value | Technique(s) | Input(s) | Average) | |||||||||||||
Impaired loans: | |||||||||||||||||
Commercial | $ | 183 | Income approach | Discount or capitalization rate | 1.25% (1) | ||||||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 1,191 | Income approach | Discount or capitalization rate | 0.00%-25.00% (23.23%) | |||||||||||||
Other | 12,435 | Income approach | Discount or capitalization rate | 1.25%-9.00% (8.73%) | |||||||||||||
998 | Sales comparison approach | Adjustment for differences between | 0.00%-10.00% (2.29%) | ||||||||||||||
comparable sales | |||||||||||||||||
Residential Mortgage | 422 | Sales comparison approach | Adjustment for differences between | 0.00%-3.87% (1.07%) | |||||||||||||
comparable sales | |||||||||||||||||
Consumer and Home Equity | 212 | Sales comparison approach | Adjustment for differences between | 1.80%-2.25% (1.87%) | |||||||||||||
comparable sales | |||||||||||||||||
Real estate acquired through foreclosure: | |||||||||||||||||
Commercial Real Estate: | |||||||||||||||||
Land Development | 886 | Income approach | Discount or capitalization rate | 8.50%-29.00% (23.97%) | |||||||||||||
32 | Sales comparison approach | Adjustment for differences between | 0.00% (1) | ||||||||||||||
comparable sales | |||||||||||||||||
Other | 1,009 | Income approach | Discount or capitalization rate | 8.70%-10.00% (9.61%) | |||||||||||||
1,942 | Sales comparison approach | Adjustment for differences between | 2.75%-20.00% (15.24%) | ||||||||||||||
comparable sales | |||||||||||||||||
Residential Mortgage | 483 | Sales comparison approach | Adjustment for differences between | 0.00%-18.00% (0.82%) | |||||||||||||
comparable sales | |||||||||||||||||
(1) Unobservable inputs with a single discount listed include only one property. | |||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
The estimated fair value of financial instruments, not previously presented, is as follows: | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
(Dollars in thousands) | Carrying | Fair Value Measurements | |||||||||||||||
Value | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and due from banks | $ | 31,517 | $ | 31,517 | $ | 5,970 | $ | 25,547 | $ | - | |||||||
Mortgage loans held for sale | 1,068 | 1,085 | - | 1,085 | - | ||||||||||||
Loans, net | 448,366 | 452,066 | - | - | 452,066 | ||||||||||||
Accrued interest receivable | 2,283 | 2,283 | - | - | 2,283 | ||||||||||||
FHLB stock | 4,430 | N/A | N/A | N/A | N/A | ||||||||||||
Financial liabilities: | |||||||||||||||||
Deposits | 746,878 | 708,766 | - | 708,766 | - | ||||||||||||
Advances from Federal Home Loan Bank | 38,424 | 39,445 | - | 39,445 | - | ||||||||||||
Subordinated debentures | 18,000 | 12,200 | - | - | 12,200 | ||||||||||||
Accrued interest payable | 4,137 | 4,137 | - | 4,137 | - | ||||||||||||
December 31, 2012 | |||||||||||||||||
(Dollars in thousands) | Carrying | Fair Value Measurements | |||||||||||||||
Value | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Financial assets: | |||||||||||||||||
Cash and due from banks | $ | 63,103 | $ | 63,103 | $ | 6,468 | $ | 56,635 | $ | - | |||||||
Mortgage loans held for sale | 3,887 | 3,967 | - | 3,967 | - | ||||||||||||
Loans, net | 492,740 | 493,998 | - | - | 493,998 | ||||||||||||
Accrued interest receivable | 2,690 | 2,690 | - | - | 2,690 | ||||||||||||
FHLB stock | 4,805 | N/A | N/A | N/A | N/A | ||||||||||||
Financial liabilities: | |||||||||||||||||
Deposits | 922,620 | 934,637 | - | 934,637 | - | ||||||||||||
Advances from Federal Home Loan Bank | 12,596 | 13,944 | - | 13,944 | - | ||||||||||||
Subordinated debentures | 18,000 | 12,695 | - | - | 12,695 | ||||||||||||
Accrued interest payable | 3,121 | 3,121 | - | 3,121 | - | ||||||||||||
STOCKHOLDERS_EQUITY_Tables
STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | ' | ||||||||||||||||||||
Our actual and required capital amounts and ratios are presented below. | |||||||||||||||||||||
(Dollars in thousands) | For Capital | Required by | |||||||||||||||||||
Actual | Adequacy Purposes | Consent Order | |||||||||||||||||||
As of September 30, 2013: | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
Total risk-based capital (to risk-weighted assets) | |||||||||||||||||||||
Consolidated | $ | 68,533 | 11.88 | % | $ | 46,164 | 8 | % | $ | 69,246 | 12 | % | |||||||||
Bank | 75,542 | 13.09 | 46,161 | 8 | 69,241 | 12 | |||||||||||||||
Tier I capital (to risk-weighted assets) | |||||||||||||||||||||
Consolidated | 57,677 | 10 | 23,082 | 4 | N/A | N/A | |||||||||||||||
Bank | 68,258 | 11.83 | 23,080 | 4 | N/A | N/A | |||||||||||||||
Tier I capital (to average assets) | |||||||||||||||||||||
Consolidated | 57,677 | 6.6 | 34,962 | 4 | 78,665 | 9 | |||||||||||||||
Bank | 68,258 | 7.8 | 35,015 | 4 | 78,783 | 9 | |||||||||||||||
(Dollars in thousands) | For Capital | Required by | |||||||||||||||||||
Actual | Adequacy Purposes | Consent Order | |||||||||||||||||||
As of December 31, 2012: | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
Total risk-based capital (to risk-weighted assets) | |||||||||||||||||||||
Consolidated | $ | 68,791 | 11.36 | % | $ | 48,438 | 8 | % | $ | 72,657 | 12 | % | |||||||||
Bank | 73,951 | 12.21 | 48,439 | 8 | 72,658 | 12 | |||||||||||||||
Tier I capital (to risk-weighted assets) | |||||||||||||||||||||
Consolidated | 57,471 | 9.49 | 24,219 | 4 | N/A | N/A | |||||||||||||||
Bank | 66,256 | 10.94 | 24,219 | 4 | N/A | N/A | |||||||||||||||
Tier I capital (to average assets) | |||||||||||||||||||||
Consolidated | 57,471 | 5.67 | 40,580 | 4 | 91,304 | 9 | |||||||||||||||
Bank | 66,256 | 6.53 | 40,608 | 4 | 91,368 | 9 | |||||||||||||||
CHANGES_IN_AND_RECLASSIFICATIO1
CHANGES IN AND RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||
Schedule of Available-for-sale Securities in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ||||||||
Changes in accumulated other comprehensive income by component consists of the following: | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 30, 2013 | September 30, 2013 | ||||||||
Unrealized Gains | Unrealized Gains | ||||||||
and Losses on | and Losses on | ||||||||
Available-for-Sale | Available-for-Sale | ||||||||
(Dollars in thousands) | Securities (1) | Securities (1) | |||||||
Beginning balance | $ | -7,285 | $ | 1,270 | |||||
Other comprehensive income (loss) before reclassification | -1,438 | -9,766 | |||||||
Amounts reclassified from accumulated other comprehensive income | -12 | -239 | |||||||
Net other comprehensive income (loss) | -1,450 | -10,005 | |||||||
Ending balance | $ | -8,735 | $ | -8,735 | |||||
(1) All amounts are net of tax. | |||||||||
Schedule of Available-for-sale Securities Reclassifications Out of Accumulated Other Comprehensive Income [Table Text Block] | ' | ||||||||
Reclassifications out of accumulated other comprehensive income consists of the following: | |||||||||
Three months ended September 30, 2013 | |||||||||
(Dollars in thousands) | |||||||||
Amount | |||||||||
Details about | Reclassified From | Affected Line Item | |||||||
Accumulated Other | Accumulated Other | in the | |||||||
Comprehensive | Comprehensive | Consolidated | |||||||
Income Components | Income | Statement of Operations | |||||||
Unrealized gains and losses | $ | 235 | Gain on sale of investments | ||||||
on available-for-sale securities | |||||||||
-223 | Loss on sale of investments | ||||||||
12 | Total before tax | ||||||||
- | Income taxes/(benefits) | ||||||||
Total amount reclassified | $ | 12 | Net income (loss) | ||||||
Nine months ended September 30, 2013 | |||||||||
(Dollars in thousands) | |||||||||
Amount | |||||||||
Details about | Reclassified From | Affected Line Item | |||||||
Accumulated Other | Accumulated Other | in the | |||||||
Comprehensive | Comprehensive | Consolidated | |||||||
Income Components | Income | Statement of Operations | |||||||
Unrealized gains and losses | |||||||||
on available-for-sale securities | $ | 1,078 | Gain on sale of investments | ||||||
-839 | Loss on sale of investments | ||||||||
239 | Total before tax | ||||||||
- | Income taxes/(benefits) | ||||||||
Total amount reclassified | $ | 239 | Net income (loss) | ||||||
REGULATORY_MATTERS_Details_Tex
REGULATORY MATTERS (Details Textual) (USD $) | 1 Months Ended | 9 Months Ended | |||
Jul. 06, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Jan. 01, 2011 | |
Capital to Risk Weighted Assets | ' | 13.09% | ' | ' | 12.00% |
Tier One Risk Based Capital to Risk Weighted Assets | ' | ' | ' | ' | 9.00% |
Proceeds from Sale of Property, Plant, and Equipment | $887,000 | $522,000 | $1,575,000 | ' | ' |
Proceeds from Sale of Other Property, Plant, and Equipment | 367,000 | ' | ' | ' | ' |
Tier 1 Capital to Total Assets | ' | 7.80% | ' | ' | ' |
Interest-bearing Deposit Liabilities, Total | ' | 666,570,000 | ' | 846,778,000 | ' |
Non Brokered Interest Bearing Deposit Liabilities | 115,400,000 | ' | ' | ' | ' |
Performing Financing Receivable [Member] | ' | ' | ' | ' | ' |
Proceeds from Sale of Loans Receivable | 30,400,000 | ' | ' | ' | ' |
Percentage of Sale of Loans Receivable at Discount | 0.80% | ' | ' | ' | ' |
Gain (Loss) on Sale of Loans and Leases | 3,100,000 | ' | ' | ' | ' |
Consumer and Commercial [Member] | ' | ' | ' | ' | ' |
Interest-bearing Deposit Liabilities, Total | 102,300,000 | ' | ' | ' | ' |
Government Corporate Other Financial Institution and Municipal Deposits [Member] | ' | ' | ' | ' | ' |
Non Brokered Interest Bearing Deposit Liabilities | $13,100,000 | ' | ' | ' | ' |
First Savings Bank [Member] | ' | ' | ' | ' | ' |
Premium Percentage of Proceeds from Sale of Property Plant and Equipment | 3.65% | ' | ' | ' | ' |
SECURITIES_Details
SECURITIES (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Amortized Cost, Securities available-for-sale | $296,360 | $350,303 |
Gross Unrealized Gains, Securities available-for-sale | 980 | 4,722 |
Gross Unrealized Losses,Securities available-for-sale | -7,157 | -894 |
Fair Value, Securities available-for-sale | 290,183 | 354,131 |
U.S. Treasury and Agencies [Member] | ' | ' |
Amortized Cost, Securities available-for-sale | ' | 8,284 |
Gross Unrealized Gains, Securities available-for-sale | ' | 7 |
Gross Unrealized Losses,Securities available-for-sale | ' | -13 |
Fair Value, Securities available-for-sale | ' | 8,278 |
Government-sponsored mortgage-backed Residential [Member] | ' | ' |
Amortized Cost, Securities available-for-sale | 119,475 | 144,617 |
Gross Unrealized Gains, Securities available-for-sale | 35 | 774 |
Gross Unrealized Losses,Securities available-for-sale | -4,960 | -502 |
Fair Value, Securities available-for-sale | 114,550 | 144,889 |
Government-sponsored collateralized mortgage obligations [Member] | ' | ' |
Amortized Cost, Securities available-for-sale | 78,732 | 148,460 |
Gross Unrealized Gains, Securities available-for-sale | 300 | 2,033 |
Gross Unrealized Losses,Securities available-for-sale | -1,290 | -346 |
Fair Value, Securities available-for-sale | 77,742 | 150,147 |
Asset backed-collateralized loan obligations [Member] | ' | ' |
Amortized Cost, Securities available-for-sale | 33,102 | 4,981 |
Gross Unrealized Gains, Securities available-for-sale | 0 | 151 |
Gross Unrealized Losses,Securities available-for-sale | -446 | 0 |
Fair Value, Securities available-for-sale | 32,656 | 5,132 |
State and Municipal [Member] | ' | ' |
Amortized Cost, Securities available-for-sale | 12,257 | 11,394 |
Gross Unrealized Gains, Securities available-for-sale | 423 | 1,324 |
Gross Unrealized Losses,Securities available-for-sale | -14 | 0 |
Fair Value, Securities available-for-sale | 12,666 | 12,718 |
Corporate Bonds [Member] | ' | ' |
Amortized Cost, Securities available-for-sale | 52,794 | 32,567 |
Gross Unrealized Gains, Securities available-for-sale | 222 | 433 |
Gross Unrealized Losses,Securities available-for-sale | -447 | -33 |
Fair Value, Securities available-for-sale | $52,569 | $32,967 |
SECURITIES_Details_1
SECURITIES (Details 1) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Amortized Cost Due after one year or less | $3,064 | ' |
Amortized Cost Due after one year through five years | 49,485 | ' |
Amortized Cost Due after five years through ten years | 4,751 | ' |
Amortized Cost Due after ten years | 7,751 | ' |
Available For Sale Securities Amortized Cost | 296,360 | 350,303 |
Fair Value Due after one year or less | 3,068 | ' |
Fair Value Due after one year through five years | 49,406 | ' |
Fair Value Due after five years through ten years | 4,624 | ' |
Fair Value Due after ten years | 8,137 | ' |
Fair Value Available for Sale | 290,183 | 354,131 |
Government-sponsored mortgage-backed residential [Member] | ' | ' |
Available For Sale Securities Amortized Cost | 119,475 | ' |
Fair Value Available for Sale | 114,550 | ' |
Government-sponsored collateralized mortgage obligations [Member] | ' | ' |
Available For Sale Securities Amortized Cost | 78,732 | 148,460 |
Fair Value Available for Sale | 77,742 | 150,147 |
Private Asset Backed [Member] | ' | ' |
Available For Sale Securities Amortized Cost | 33,102 | 4,981 |
Fair Value Available for Sale | $32,656 | $5,132 |
SECURITIES_Details_2
SECURITIES (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Proceeds from sales | $24,295 | $127,569 | $125,351 | $214,830 |
Gross realized gains | 235 | 2,054 | 1,078 | 3,363 |
Gross realized losses | $223 | $350 | $839 | $653 |
SECURITIES_Details_3
SECURITIES (Details 3) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value, Less than 12 Months | $204,707 | $124,398 |
Unrealized Loss, Less than 12 Months | -6,528 | -894 |
Fair Value, 12 Months or More | 15,397 | 0 |
Unrealized Loss, 12 Months or More | -629 | 0 |
Fair Value, Total | 220,104 | 124,398 |
Unrealized Loss, Total | -7,157 | -894 |
U.S. Treasury and Agencies [Member] | ' | ' |
Fair Value, Less than 12 Months | ' | 3,255 |
Unrealized Loss, Less than 12 Months | ' | -13 |
Fair Value, 12 Months or More | ' | 0 |
Unrealized Loss, 12 Months or More | ' | 0 |
Fair Value, Total | ' | 3,255 |
Unrealized Loss, Total | ' | -13 |
Government-sponsored mortgage-backed residential [Member] | ' | ' |
Fair Value, Less than 12 Months | 103,205 | 82,137 |
Unrealized Loss, Less than 12 Months | -4,608 | -502 |
Fair Value, 12 Months or More | 8,658 | 0 |
Unrealized Loss, 12 Months or More | -352 | 0 |
Fair Value, Total | 111,863 | 82,137 |
Unrealized Loss, Total | -4,960 | -502 |
Government-sponsored collateralized mortgage obligations [Member] | ' | ' |
Fair Value, Less than 12 Months | 40,463 | 33,275 |
Unrealized Loss, Less than 12 Months | -1,013 | -346 |
Fair Value, 12 Months or More | 6,739 | 0 |
Unrealized Loss, 12 Months or More | -277 | 0 |
Fair Value, Total | 47,202 | 33,275 |
Unrealized Loss, Total | -1,290 | -346 |
Corporate Bonds [Member] | ' | ' |
Fair Value, Less than 12 Months | 24,769 | 5,731 |
Unrealized Loss, Less than 12 Months | -447 | -33 |
Fair Value, 12 Months or More | 0 | 0 |
Unrealized Loss, 12 Months or More | 0 | 0 |
Fair Value, Total | 24,769 | 5,731 |
Unrealized Loss, Total | -447 | -33 |
Asset backed-collateralized loan obligations [Member] | ' | ' |
Fair Value, Less than 12 Months | 32,656 | ' |
Unrealized Loss, Less than 12 Months | -446 | ' |
Fair Value, 12 Months or More | 0 | ' |
Unrealized Loss, 12 Months or More | 0 | ' |
Fair Value, Total | 32,656 | ' |
Unrealized Loss, Total | -446 | ' |
State and Municipal [Member] | ' | ' |
Fair Value, Less than 12 Months | 3,614 | ' |
Unrealized Loss, Less than 12 Months | -14 | ' |
Fair Value, 12 Months or More | 0 | ' |
Unrealized Loss, 12 Months or More | 0 | ' |
Fair Value, Total | 3,614 | ' |
Unrealized Loss, Total | ($14) | ' |
SECURITIES_Details_4
SECURITIES (Details 4) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 |
Beginning balance | $2,104 | $2,078 |
Increases to the amount related to the credit loss for which other-than-temporary impairment was previously recognized | 0 | 26 |
Sales/call of securities | -628 | -628 |
Ending balance | $1,476 | $1,476 |
SECURITIES_Details_Textual
SECURITIES (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2012 | Sep. 30, 2013 | |
Federal Home Loan Bank, Advances, Disclosures, Collateral Pledged Amortized Cost | $130,400,000 | $145,300,000 |
Federal Home Loan Bank, Advances, Disclosures, Collateral Pledged Fair Value | 132,300,000 | 142,600,000 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings | $26,000 | ' |
LOANS_Details
LOANS (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||||
Loans and Leases Receivable, Gross, Carrying Amount | $476,104 | ' | $524,940 | ' | ' | ' |
Less: | ' | ' | ' | ' | ' | ' |
Net deferred loan origination fees | -73 | ' | -105 | ' | ' | ' |
Allowance for loan losses | -12,224 | -15,947 | -17,265 | -17,824 | -15,300 | -17,181 |
Loans and Leases Receivable Adjustments Total | -12,297 | ' | -17,370 | ' | ' | ' |
Net loans | 463,807 | ' | 507,570 | ' | ' | ' |
Development and Building Lots [Member] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 263,509 | ' | 290,424 | ' | ' | ' |
Land Development [Member] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 22,395 | ' | 28,310 | ' | ' | ' |
Building Lots [Member] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,599 | ' | 2,151 | ' | ' | ' |
Residential mortgage [Member] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 101,281 | ' | 110,025 | ' | ' | ' |
Less: | ' | ' | ' | ' | ' | ' |
Allowance for loan losses | -364 | -375 | -501 | -789 | -803 | -922 |
Consumer and home equity [Member] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 53,988 | ' | 57,888 | ' | ' | ' |
Less: | ' | ' | ' | ' | ' | ' |
Allowance for loan losses | -360 | -396 | -442 | -471 | -525 | -610 |
Commercial [Member] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 20,394 | ' | 19,931 | ' | ' | ' |
Less: | ' | ' | ' | ' | ' | ' |
Allowance for loan losses | -1,047 | -908 | -1,236 | -1,232 | -1,483 | -1,422 |
Indirect consumer [Member] | ' | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 12,938 | ' | 16,211 | ' | ' | ' |
Less: | ' | ' | ' | ' | ' | ' |
Allowance for loan losses | ($202) | ($214) | ($271) | ($303) | ($320) | ($397) |
LOANS_Details_1
LOANS (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Beginning Balance | $15,947 | $15,300 | $17,265 | $17,181 |
Provision for loan losses | -500 | 2,671 | -1,325 | 4,598 |
Change in allowance associated with probable branch divestitures | ' | 201 | ' | -468 |
Charge-offs | -3,353 | -471 | -4,054 | -3,799 |
Recoveries | 130 | 123 | 338 | 312 |
Total ending allowance balance | 12,224 | 17,824 | 12,224 | 17,824 |
Commercial Loan [Member] | ' | ' | ' | ' |
Beginning Balance | 908 | 1,483 | 1,236 | 1,422 |
Provision for loan losses | 177 | -156 | -95 | 66 |
Change in allowance associated with probable branch divestitures | ' | 18 | ' | -7 |
Charge-offs | -48 | -126 | -142 | -313 |
Recoveries | 10 | 13 | 48 | 64 |
Total ending allowance balance | 1,047 | 1,232 | 1,047 | 1,232 |
Commercial Real Estate [Member] | ' | ' | ' | ' |
Beginning Balance | 14,054 | 12,169 | 14,815 | 13,830 |
Provision for loan losses | -790 | 2,831 | -1,175 | 4,504 |
Change in allowance associated with probable branch divestitures | ' | 212 | ' | -369 |
Charge-offs | -3,076 | -234 | -3,528 | -3,038 |
Recoveries | 63 | 51 | 139 | 102 |
Total ending allowance balance | 10,251 | 15,029 | 10,251 | 15,029 |
Residential Mortgage [Member] | ' | ' | ' | ' |
Beginning Balance | 375 | 803 | 501 | 922 |
Provision for loan losses | 49 | 16 | -81 | -36 |
Change in allowance associated with probable branch divestitures | ' | -30 | ' | -36 |
Charge-offs | -73 | 0 | -73 | -62 |
Recoveries | 13 | 0 | 17 | 1 |
Total ending allowance balance | 364 | 789 | 364 | 789 |
Consumer and Home Equity [Member] | ' | ' | ' | ' |
Beginning Balance | 396 | 525 | 442 | 610 |
Provision for loan losses | 67 | 37 | 90 | 135 |
Change in allowance associated with probable branch divestitures | ' | 1 | ' | -56 |
Charge-offs | -111 | -53 | -209 | -229 |
Recoveries | 8 | -39 | 37 | 11 |
Total ending allowance balance | 360 | 471 | 360 | 471 |
Indirect Consumer [Member] | ' | ' | ' | ' |
Beginning Balance | 214 | 320 | 271 | 397 |
Provision for loan losses | -3 | -57 | -64 | -71 |
Change in allowance associated with probable branch divestitures | ' | 0 | ' | 0 |
Charge-offs | -45 | -58 | -102 | -157 |
Recoveries | 36 | 98 | 97 | 134 |
Total ending allowance balance | $202 | $303 | $202 | $303 |
LOANS_Details_2
LOANS (Details 2) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||||
Individually evaluated for impairment | $3,866 | ' | $7,982 | $8,709 | ' | ' |
Collectively evaluated for impairment | 8,358 | ' | 9,283 | 9,115 | ' | ' |
Loans held for sale | ' | ' | ' | 0 | ' | ' |
Total ending allowance balance | 12,224 | 15,947 | 17,265 | 17,824 | 15,300 | 17,181 |
Loans individually evaluated for impairment | 45,617 | ' | 44,985 | 60,089 | ' | ' |
Loans collectively evaluated for impairment | 430,487 | ' | 479,955 | 513,301 | ' | ' |
Loans held for sale | ' | ' | ' | -46,852 | ' | ' |
Total ending loans balance | 476,104 | ' | 524,940 | 526,538 | ' | ' |
Commercial Loan [Member] | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 197 | ' | 252 | 229 | ' | ' |
Collectively evaluated for impairment | 850 | ' | 984 | 1,003 | ' | ' |
Loans held for sale | ' | ' | ' | 0 | ' | ' |
Total ending allowance balance | 1,047 | 908 | 1,236 | 1,232 | 1,483 | 1,422 |
Loans individually evaluated for impairment | 1,353 | ' | 1,071 | 1,029 | ' | ' |
Loans collectively evaluated for impairment | 19,041 | ' | 18,860 | 20,070 | ' | ' |
Loans held for sale | ' | ' | ' | -775 | ' | ' |
Total ending loans balance | 20,394 | ' | 19,931 | 20,324 | ' | ' |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 3,550 | ' | 7,593 | 8,000 | ' | ' |
Collectively evaluated for impairment | 6,701 | ' | 7,222 | 7,029 | ' | ' |
Loans held for sale | ' | ' | ' | 0 | ' | ' |
Total ending allowance balance | 10,251 | 14,054 | 14,815 | 15,029 | 12,169 | 13,830 |
Loans individually evaluated for impairment | 40,629 | ' | 43,513 | 57,655 | ' | ' |
Loans collectively evaluated for impairment | 246,874 | ' | 277,372 | 303,891 | ' | ' |
Loans held for sale | ' | ' | ' | -36,878 | ' | ' |
Total ending loans balance | 287,503 | ' | 320,885 | 324,668 | ' | ' |
Residential Mortgage [Member] | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 68 | ' | 86 | 378 | ' | ' |
Collectively evaluated for impairment | 296 | ' | 415 | 411 | ' | ' |
Loans held for sale | ' | ' | ' | 0 | ' | ' |
Total ending allowance balance | 364 | 375 | 501 | 789 | 803 | 922 |
Loans individually evaluated for impairment | 3,015 | ' | 213 | 1,093 | ' | ' |
Loans collectively evaluated for impairment | 98,266 | ' | 109,812 | 112,800 | ' | ' |
Loans held for sale | ' | ' | ' | -3,583 | ' | ' |
Total ending loans balance | 101,281 | ' | 110,025 | 110,310 | ' | ' |
Consumer and Home Equity[Member] | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 51 | ' | 51 | 95 | ' | ' |
Collectively evaluated for impairment | 309 | ' | 391 | 376 | ' | ' |
Loans held for sale | ' | ' | ' | 0 | ' | ' |
Total ending allowance balance | 360 | ' | 442 | 471 | ' | ' |
Loans individually evaluated for impairment | 620 | ' | 188 | 255 | ' | ' |
Loans collectively evaluated for impairment | 53,368 | ' | 57,700 | 58,117 | ' | ' |
Loans held for sale | ' | ' | ' | -5,616 | ' | ' |
Total ending loans balance | 53,988 | ' | 57,888 | 52,756 | ' | ' |
Indirect Consumer [Member] | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 0 | ' | 0 | 7 | ' | ' |
Collectively evaluated for impairment | 202 | ' | 271 | 296 | ' | ' |
Loans held for sale | ' | ' | ' | 0 | ' | ' |
Total ending allowance balance | 202 | 214 | 271 | 303 | 320 | 397 |
Loans individually evaluated for impairment | 0 | ' | 0 | 57 | ' | ' |
Loans collectively evaluated for impairment | 12,938 | ' | 16,211 | 18,423 | ' | ' |
Loans held for sale | ' | ' | ' | 0 | ' | ' |
Total ending loans balance | $12,938 | ' | $16,211 | $18,480 | ' | ' |
LOANS_Details_3
LOANS (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Impaired Financing Receivable With Related Allowance Unpaid Principal Balance | $51,582 | $66,952 | $51,582 | $66,952 | $51,593 |
Impaired Financing Receivable With Related Allowance Recorded Investment | 45,617 | 60,089 | 45,617 | 60,089 | 44,985 |
Impaired Financing Receivable, Allowance for Loan Losses Allocated | 3,866 | 8,709 | 3,866 | 8,709 | 7,982 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 43,323 | 59,712 | 43,254 | 60,542 | 57,430 |
Impaired Financing Receivable, With Related Allowance, Interest Income Recognized | 455 | 595 | 1,342 | 1,713 | 2,179 |
Impaired Financing Receivable, With Related Allowance, Interest Income, Cash Basis Recognized | 455 | 595 | 1,342 | 1,713 | 2,179 |
Commercial Loan [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance | 1,177 | 844 | 1,177 | 844 | 588 |
Impaired Financing Receivable With No Related Allowance Recorded Investment | 973 | 722 | 973 | 722 | 588 |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | 1,001 | 857 | 815 | 1,191 | 1,070 |
Impaired Financing Receivable, With No Related Allowance, Interest Income Recognized | 9 | 6 | 18 | 34 | 39 |
Impaired Financing Receivable, With No Related Allowance, Interest Income, Cash Basis Interest Recognized | 9 | 6 | 18 | 34 | 39 |
Impaired Financing Receivable With Related Allowance Unpaid Principal Balance | 380 | 307 | 380 | 307 | 483 |
Impaired Financing Receivable With Related Allowance Recorded Investment | 380 | 307 | 380 | 307 | 483 |
Impaired Financing Receivable, Allowance for Loan Losses Allocated | 197 | 229 | 197 | 229 | 252 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 283 | 356 | 310 | 584 | 564 |
Impaired Financing Receivable, With Related Allowance, Interest Income Recognized | 2 | 3 | 7 | 17 | 21 |
Impaired Financing Receivable, With Related Allowance, Interest Income, Cash Basis Recognized | 2 | 3 | 7 | 17 | 21 |
Land Improvements [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance | 2,220 | 8,780 | 2,220 | 8,780 | 5,595 |
Impaired Financing Receivable With No Related Allowance Recorded Investment | 2,195 | 6,290 | 2,195 | 6,290 | 4,873 |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | 2,253 | 6,031 | 3,125 | 5,941 | 5,728 |
Impaired Financing Receivable, With No Related Allowance, Interest Income Recognized | 27 | 71 | 114 | 177 | 237 |
Impaired Financing Receivable, With No Related Allowance, Interest Income, Cash Basis Interest Recognized | 27 | 71 | 114 | 177 | 237 |
Impaired Financing Receivable With Related Allowance Unpaid Principal Balance | 2,206 | 1,950 | 2,206 | 1,950 | 2,674 |
Impaired Financing Receivable With Related Allowance Recorded Investment | 2,206 | 1,950 | 2,206 | 1,950 | 2,674 |
Impaired Financing Receivable, Allowance for Loan Losses Allocated | 1,015 | 316 | 1,015 | 316 | 899 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 2,568 | 1,345 | 2,621 | 2,377 | 2,436 |
Impaired Financing Receivable, With Related Allowance, Interest Income Recognized | 31 | 16 | 95 | 71 | 101 |
Impaired Financing Receivable, With Related Allowance, Interest Income, Cash Basis Recognized | 31 | 16 | 95 | 71 | 101 |
Buildings Lot [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance | 477 | 1,036 | 477 | 1,036 | 477 |
Impaired Financing Receivable With No Related Allowance Recorded Investment | 212 | 683 | 212 | 683 | 212 |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | 212 | 857 | 212 | 959 | 810 |
Impaired Financing Receivable, With No Related Allowance, Interest Income Recognized | 0 | 7 | 0 | 13 | 14 |
Impaired Financing Receivable, With No Related Allowance, Interest Income, Cash Basis Interest Recognized | 0 | 7 | 0 | 13 | 14 |
Impaired Financing Receivable With Related Allowance Unpaid Principal Balance | 0 | 0 | 0 | 0 | 0 |
Impaired Financing Receivable With Related Allowance Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, Allowance for Loan Losses Allocated | 0 | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 0 | 0 | 0 | 238 | 191 |
Impaired Financing Receivable, With Related Allowance, Interest Income Recognized | 0 | 0 | 0 | 3 | 3 |
Impaired Financing Receivable, With Related Allowance, Interest Income, Cash Basis Recognized | 0 | 0 | 0 | 3 | 3 |
Commercial Real Estate Other Receivable [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance | 25,475 | 18,577 | 25,475 | 18,577 | 22,121 |
Impaired Financing Receivable With No Related Allowance Recorded Investment | 20,048 | 15,911 | 20,048 | 15,911 | 16,500 |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | 14,964 | 22,319 | 14,042 | 27,189 | 25,051 |
Impaired Financing Receivable, With No Related Allowance, Interest Income Recognized | 161 | 222 | 444 | 781 | 961 |
Impaired Financing Receivable, With No Related Allowance, Interest Income, Cash Basis Interest Recognized | 161 | 222 | 444 | 781 | 961 |
Impaired Financing Receivable With Related Allowance Unpaid Principal Balance | 15,970 | 34,027 | 15,970 | 34,027 | 19,254 |
Impaired Financing Receivable With Related Allowance Recorded Investment | 15,968 | 32,821 | 15,968 | 32,821 | 19,254 |
Impaired Financing Receivable, Allowance for Loan Losses Allocated | 2,535 | 7,684 | 2,535 | 7,684 | 6,694 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 18,183 | 26,524 | 18,980 | 20,281 | 20,075 |
Impaired Financing Receivable, With Related Allowance, Interest Income Recognized | 195 | 264 | 599 | 583 | 772 |
Impaired Financing Receivable, With Related Allowance, Interest Income, Cash Basis Recognized | 195 | 264 | 599 | 583 | 772 |
Residential Mortgage [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance | 2,525 | 0 | 2,525 | 0 | 0 |
Impaired Financing Receivable With No Related Allowance Recorded Investment | 2,525 | 0 | 2,525 | 0 | 0 |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | 2,733 | 0 | 2,212 | 0 | 0 |
Impaired Financing Receivable, With No Related Allowance, Interest Income Recognized | 21 | 0 | 45 | 0 | 0 |
Impaired Financing Receivable, With No Related Allowance, Interest Income, Cash Basis Interest Recognized | 21 | 0 | 45 | 0 | 0 |
Impaired Financing Receivable With Related Allowance Unpaid Principal Balance | 514 | 1,119 | 514 | 1,119 | 213 |
Impaired Financing Receivable With Related Allowance Recorded Investment | 490 | 1,093 | 490 | 1,093 | 213 |
Impaired Financing Receivable, Allowance for Loan Losses Allocated | 68 | 378 | 68 | 378 | 86 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 484 | 1,096 | 375 | 1,436 | 1,191 |
Impaired Financing Receivable, With Related Allowance, Interest Income Recognized | 4 | 5 | 8 | 29 | 24 |
Impaired Financing Receivable, With Related Allowance, Interest Income, Cash Basis Recognized | 4 | 5 | 8 | 29 | 24 |
Consumer and Home Equity [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance | 357 | 0 | 357 | 0 | 0 |
Impaired Financing Receivable With No Related Allowance Recorded Investment | 357 | 0 | 357 | 0 | 0 |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | 376 | 0 | 293 | 0 | 0 |
Impaired Financing Receivable, With No Related Allowance, Interest Income Recognized | 3 | 0 | 6 | 0 | 0 |
Impaired Financing Receivable, With No Related Allowance, Interest Income, Cash Basis Interest Recognized | 3 | 0 | 6 | 0 | 0 |
Impaired Financing Receivable With Related Allowance Unpaid Principal Balance | 281 | 255 | 281 | 255 | 188 |
Impaired Financing Receivable With Related Allowance Recorded Investment | 263 | 255 | 263 | 255 | 188 |
Impaired Financing Receivable, Allowance for Loan Losses Allocated | 51 | 95 | 51 | 95 | 51 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 266 | 279 | 269 | 278 | 260 |
Impaired Financing Receivable, With Related Allowance, Interest Income Recognized | 2 | 1 | 6 | 4 | 6 |
Impaired Financing Receivable, With Related Allowance, Interest Income, Cash Basis Recognized | 2 | 1 | 6 | 4 | 6 |
Indirect Consumer [Member] | ' | ' | ' | ' | ' |
Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance | 0 | 0 | 0 | 0 | 0 |
Impaired Financing Receivable With No Related Allowance Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, With No Related Allowance, Interest Income Recognized | 0 | 0 | 0 | 0 | 0 |
Impaired Financing Receivable, With No Related Allowance, Interest Income, Cash Basis Interest Recognized | 0 | 0 | 0 | 0 | 0 |
Impaired Financing Receivable With Related Allowance Unpaid Principal Balance | 0 | 57 | 0 | 57 | 0 |
Impaired Financing Receivable With Related Allowance Recorded Investment | 0 | 57 | 0 | 57 | 0 |
Impaired Financing Receivable, Allowance for Loan Losses Allocated | 0 | 7 | 0 | 7 | 0 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 0 | 48 | 0 | 68 | 54 |
Impaired Financing Receivable, With Related Allowance, Interest Income Recognized | 0 | 0 | 0 | 1 | 1 |
Impaired Financing Receivable, With Related Allowance, Interest Income, Cash Basis Recognized | $0 | $0 | $0 | $1 | $1 |
LOANS_Details_4
LOANS (Details 4) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Restructured on Non-Accrual Status | $7,927 | $9,753 |
Restructured on Accrual Status | 19,587 | 22,851 |
Restructured Loans Past Due Over 90 Days Still Accruing | 4,837 | 0 |
Loans Past Due Over 90 Days Still Accruing | 2,238 | 0 |
Non-Accrual Excluding Restructured | 6,511 | 11,702 |
Commercial Loan [Member] | ' | ' |
Restructured on Non-Accrual Status | 0 | 31 |
Restructured on Accrual Status | 183 | 221 |
Restructured Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Non-Accrual Excluding Restructured | 434 | 562 |
Land Improvements [Member] | ' | ' |
Restructured on Non-Accrual Status | 0 | 675 |
Restructured on Accrual Status | 1,892 | 3,053 |
Restructured Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Non-Accrual Excluding Restructured | 302 | 695 |
Buildings Lot [Member] | ' | ' |
Restructured on Non-Accrual Status | 0 | 0 |
Restructured on Accrual Status | 0 | 170 |
Restructured Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Non-Accrual Excluding Restructured | 212 | 212 |
Commercial Real Estate Other Receivable [Member] | ' | ' |
Restructured on Non-Accrual Status | 7,819 | 9,047 |
Restructured on Accrual Status | 17,223 | 19,080 |
Restructured Loans Past Due Over 90 Days Still Accruing | 4,837 | 0 |
Loans Past Due Over 90 Days Still Accruing | 2,238 | 0 |
Non-Accrual Excluding Restructured | 4,115 | 9,356 |
Residential Mortgage [Member] | ' | ' |
Restructured on Non-Accrual Status | 108 | 0 |
Restructured on Accrual Status | 192 | 303 |
Restructured Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Non-Accrual Excluding Restructured | 1,162 | 827 |
Consumer and Home Equity [Member] | ' | ' |
Restructured on Non-Accrual Status | 0 | 0 |
Restructured on Accrual Status | 97 | 24 |
Restructured Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Non-Accrual Excluding Restructured | 262 | 37 |
Indirect Consumer [Member] | ' | ' |
Restructured on Non-Accrual Status | 0 | 0 |
Restructured on Accrual Status | 0 | 0 |
Restructured Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Loans Past Due Over 90 Days Still Accruing | 0 | 0 |
Non-Accrual Excluding Restructured | $24 | $13 |
LOANS_Details_5
LOANS (Details 5) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | $6,811 | $5,810 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,004 | 2,714 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 21,513 | 16,336 |
Financing Receivable, Recorded Investment, Total Past Due | 29,328 | 24,860 |
Financing Receivable, Recorded Investment, Loans Not Past Due | 446,776 | 500,080 |
Loans and Leases Receivable, Gross, Carrying Amount | 476,104 | 524,940 |
Commercial Loan [Member] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 95 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 434 | 562 |
Financing Receivable, Recorded Investment, Total Past Due | 434 | 657 |
Financing Receivable, Recorded Investment, Loans Not Past Due | 19,960 | 19,274 |
Loans and Leases Receivable, Gross, Carrying Amount | 20,394 | 19,931 |
Land Improvements [Member] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 2,206 | 361 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 302 | 1,228 |
Financing Receivable, Recorded Investment, Total Past Due | 2,508 | 1,589 |
Financing Receivable, Recorded Investment, Loans Not Past Due | 19,887 | 26,721 |
Loans and Leases Receivable, Gross, Carrying Amount | 22,395 | 28,310 |
Buildings Lot [Member] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 212 | 212 |
Financing Receivable, Recorded Investment, Total Past Due | 212 | 212 |
Financing Receivable, Recorded Investment, Loans Not Past Due | 1,387 | 1,939 |
Loans and Leases Receivable, Gross, Carrying Amount | 1,599 | 2,151 |
Commercial Real Estate Other Receivable [Member] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 3,861 | 1,264 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 23 | 1,239 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 19,009 | 13,449 |
Financing Receivable, Recorded Investment, Total Past Due | 22,893 | 15,952 |
Financing Receivable, Recorded Investment, Loans Not Past Due | 240,616 | 274,472 |
Loans and Leases Receivable, Gross, Carrying Amount | 263,509 | 290,424 |
Residential Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 279 | 3,588 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 923 | 995 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,270 | 827 |
Financing Receivable, Recorded Investment, Total Past Due | 2,472 | 5,410 |
Financing Receivable, Recorded Investment, Loans Not Past Due | 98,809 | 104,615 |
Loans and Leases Receivable, Gross, Carrying Amount | 101,281 | 110,025 |
Consumer and Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 324 | 351 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 28 | 255 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 262 | 45 |
Financing Receivable, Recorded Investment, Total Past Due | 614 | 651 |
Financing Receivable, Recorded Investment, Loans Not Past Due | 53,374 | 57,237 |
Loans and Leases Receivable, Gross, Carrying Amount | 53,988 | 57,888 |
Indirect Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 141 | 246 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 30 | 130 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 24 | 13 |
Financing Receivable, Recorded Investment, Total Past Due | 195 | 389 |
Financing Receivable, Recorded Investment, Loans Not Past Due | 12,743 | 15,822 |
Loans and Leases Receivable, Gross, Carrying Amount | $12,938 | $16,211 |
LOANS_Details_6
LOANS (Details 6) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Number | Number | Number | Number | |
Financing Receivable, Pre-Modification Outstanding Recorded Investment | $0 | $58 | $3,586 | $6,782 |
Financing Receivable, Post-Modification Outstanding Recorded Investment | 0 | 58 | 3,586 | 6,641 |
Financing Receivable, Number of Loans | 0 | 1 | 7 | 12 |
Commercial Loan [Member] | ' | ' | ' | ' |
Financing Receivable, Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 1,094 |
Financing Receivable, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 1,094 |
Financing Receivable, Number of Loans | 0 | 0 | 0 | 1 |
Land Improvements [Member] | ' | ' | ' | ' |
Financing Receivable, Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 4,143 |
Financing Receivable, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 4,002 |
Financing Receivable, Number of Loans | 0 | 0 | 0 | 3 |
Buildings Lot [Member] | ' | ' | ' | ' |
Financing Receivable, Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 370 |
Financing Receivable, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 370 |
Financing Receivable, Number of Loans | 0 | 0 | 0 | 2 |
Commercial Real Estate Other Receivable [Member] | ' | ' | ' | ' |
Financing Receivable, Pre-Modification Outstanding Recorded Investment | 0 | 58 | 3,512 | 1,175 |
Financing Receivable, Post-Modification Outstanding Recorded Investment | 0 | 58 | 3,512 | 1,175 |
Financing Receivable, Number of Loans | 0 | 1 | 5 | 6 |
Residential Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Financing Receivable, Post-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Financing Receivable, Number of Loans | 0 | 0 | 0 | 0 |
Consumer and Home Equity [Member] | ' | ' | ' | ' |
Financing Receivable, Pre-Modification Outstanding Recorded Investment | 0 | 0 | 74 | 0 |
Financing Receivable, Post-Modification Outstanding Recorded Investment | 0 | 0 | 74 | 0 |
Financing Receivable, Number of Loans | 0 | 0 | 2 | 0 |
Indirect Consumer [Member] | ' | ' | ' | ' |
Financing Receivable, Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Financing Receivable, Post-Modification Outstanding Recorded Investment | $0 | $0 | $0 | $0 |
Financing Receivable, Number of Loans | 0 | 0 | 0 | 0 |
LOANS_Details_7
LOANS (Details 7) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Number | Number | Number | Number | |
Troubled debt restructurings, Number of Loans | 0 | 0 | 0 | 3 |
Troubled debt restructurings, Recorded investment | $0 | $0 | $0 | $13,346 |
Commercial Loan [Member] | ' | ' | ' | ' |
Troubled debt restructurings, Number of Loans | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Recorded investment | 0 | 0 | 0 | 0 |
Land Improvements [Member] | ' | ' | ' | ' |
Troubled debt restructurings, Number of Loans | 0 | 0 | 0 | 2 |
Troubled debt restructurings, Recorded investment | 0 | 0 | 0 | 3,278 |
Buildings Lot [Member] | ' | ' | ' | ' |
Troubled debt restructurings, Number of Loans | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Recorded investment | 0 | 0 | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | ' | ' | ' | ' |
Troubled debt restructurings, Number of Loans | 0 | 0 | 0 | 1 |
Troubled debt restructurings, Recorded investment | 0 | 0 | 0 | 10,068 |
Commercial Real Estate Construction Financing Receivable [Member] | ' | ' | ' | ' |
Troubled debt restructurings, Number of Loans | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Recorded investment | 0 | 0 | 0 | 0 |
Residential Mortgage [Member] | ' | ' | ' | ' |
Troubled debt restructurings, Number of Loans | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Recorded investment | 0 | 0 | 0 | 0 |
Consumer and Home Equity [Member] | ' | ' | ' | ' |
Troubled debt restructurings, Number of Loans | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Recorded investment | 0 | 0 | 0 | 0 |
Indirect Consumer [Member] | ' | ' | ' | ' |
Troubled debt restructurings, Number of Loans | 0 | 0 | 0 | 0 |
Troubled debt restructurings, Recorded investment | $0 | $0 | $0 | $0 |
LOANS_Details_8
LOANS (Details 8) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Class of loans | $476,104 | $524,940 |
Not Rated [Member] | ' | ' |
Class of loans | 163,512 | 177,870 |
Pass [Member] | ' | ' |
Class of loans | 244,338 | 271,881 |
Special Mention [Member] | ' | ' |
Class of loans | 22,456 | 24,869 |
Substandard [Member] | ' | ' |
Class of loans | 45,798 | 50,320 |
Doubtful [Member] | ' | ' |
Class of loans | 0 | 0 |
Loss [Member] | ' | ' |
Class of loans | 0 | 0 |
Commercial Loan [Member] | ' | ' |
Class of loans | 20,394 | 19,931 |
Commercial Loan [Member] | Not Rated [Member] | ' | ' |
Class of loans | 0 | 0 |
Commercial Loan [Member] | Pass [Member] | ' | ' |
Class of loans | 19,041 | 16,736 |
Commercial Loan [Member] | Special Mention [Member] | ' | ' |
Class of loans | 0 | 2,000 |
Commercial Loan [Member] | Substandard [Member] | ' | ' |
Class of loans | 1,353 | 1,195 |
Commercial Loan [Member] | Doubtful [Member] | ' | ' |
Class of loans | 0 | 0 |
Commercial Loan [Member] | Loss [Member] | ' | ' |
Class of loans | 0 | 0 |
Land Improvements [Member] | ' | ' |
Class of loans | 22,395 | 28,310 |
Land Improvements [Member] | Not Rated [Member] | ' | ' |
Class of loans | 0 | 0 |
Land Improvements [Member] | Pass [Member] | ' | ' |
Class of loans | 14,706 | 17,744 |
Land Improvements [Member] | Special Mention [Member] | ' | ' |
Class of loans | 3,288 | 3,059 |
Land Improvements [Member] | Substandard [Member] | ' | ' |
Class of loans | 4,401 | 7,507 |
Land Improvements [Member] | Doubtful [Member] | ' | ' |
Class of loans | 0 | 0 |
Land Improvements [Member] | Loss [Member] | ' | ' |
Class of loans | 0 | 0 |
Buildings Lot [Member] | ' | ' |
Class of loans | 1,599 | 2,151 |
Buildings Lot [Member] | Not Rated [Member] | ' | ' |
Class of loans | 0 | 0 |
Buildings Lot [Member] | Pass [Member] | ' | ' |
Class of loans | 931 | 1,447 |
Buildings Lot [Member] | Special Mention [Member] | ' | ' |
Class of loans | 456 | 492 |
Buildings Lot [Member] | Substandard [Member] | ' | ' |
Class of loans | 212 | 212 |
Buildings Lot [Member] | Doubtful [Member] | ' | ' |
Class of loans | 0 | 0 |
Buildings Lot [Member] | Loss [Member] | ' | ' |
Class of loans | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | ' | ' |
Class of loans | 263,509 | 290,424 |
Commercial Real Estate Other Receivable [Member] | Not Rated [Member] | ' | ' |
Class of loans | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | Pass [Member] | ' | ' |
Class of loans | 209,660 | 235,954 |
Commercial Real Estate Other Receivable [Member] | Special Mention [Member] | ' | ' |
Class of loans | 17,793 | 18,297 |
Commercial Real Estate Other Receivable [Member] | Substandard [Member] | ' | ' |
Class of loans | 36,056 | 36,173 |
Commercial Real Estate Other Receivable [Member] | Doubtful [Member] | ' | ' |
Class of loans | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | Loss [Member] | ' | ' |
Class of loans | 0 | 0 |
Residential Mortgage [Member] | ' | ' |
Class of loans | 101,281 | 110,025 |
Residential Mortgage [Member] | Not Rated [Member] | ' | ' |
Class of loans | 97,421 | 105,148 |
Residential Mortgage [Member] | Pass [Member] | ' | ' |
Class of loans | 0 | 0 |
Residential Mortgage [Member] | Special Mention [Member] | ' | ' |
Class of loans | 845 | 442 |
Residential Mortgage [Member] | Substandard [Member] | ' | ' |
Class of loans | 3,015 | 4,435 |
Residential Mortgage [Member] | Doubtful [Member] | ' | ' |
Class of loans | 0 | 0 |
Residential Mortgage [Member] | Loss [Member] | ' | ' |
Class of loans | 0 | 0 |
Consumer and Home Equity [Member] | ' | ' |
Class of loans | 53,988 | 57,888 |
Consumer and Home Equity [Member] | Not Rated [Member] | ' | ' |
Class of loans | 53,192 | 56,593 |
Consumer and Home Equity [Member] | Pass [Member] | ' | ' |
Class of loans | 0 | 0 |
Consumer and Home Equity [Member] | Special Mention [Member] | ' | ' |
Class of loans | 73 | 569 |
Consumer and Home Equity [Member] | Substandard [Member] | ' | ' |
Class of loans | 723 | 726 |
Consumer and Home Equity [Member] | Doubtful [Member] | ' | ' |
Class of loans | 0 | 0 |
Consumer and Home Equity [Member] | Loss [Member] | ' | ' |
Class of loans | 0 | 0 |
Indirect Consumer [Member] | ' | ' |
Class of loans | 12,938 | 16,211 |
Indirect Consumer [Member] | Not Rated [Member] | ' | ' |
Class of loans | 12,899 | 16,129 |
Indirect Consumer [Member] | Pass [Member] | ' | ' |
Class of loans | 0 | 0 |
Indirect Consumer [Member] | Special Mention [Member] | ' | ' |
Class of loans | 1 | 10 |
Indirect Consumer [Member] | Substandard [Member] | ' | ' |
Class of loans | 38 | 72 |
Indirect Consumer [Member] | Doubtful [Member] | ' | ' |
Class of loans | 0 | 0 |
Indirect Consumer [Member] | Loss [Member] | ' | ' |
Class of loans | $0 | $0 |
LOANS_Details_9
LOANS (Details 9) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Performing | $476,104 | $524,940 |
Restructured on Non-Accrual Status | 7,927 | 9,753 |
Non-accrual | 6,511 | 11,702 |
Residential Mortgage [Member] | ' | ' |
Performing | 101,281 | 110,025 |
Restructured on Non-Accrual Status | 108 | 0 |
Non-accrual | 1,162 | 827 |
Residential Mortgage [Member] | Performing Financing Receivable [Member] | ' | ' |
Performing | 100,011 | 109,198 |
Restructured on Non-Accrual Status | ' | 0 |
Non-accrual | ' | 827 |
Consumer and Home Equity [Member] | ' | ' |
Performing | 53,988 | 57,888 |
Restructured on Non-Accrual Status | 0 | 0 |
Non-accrual | 262 | 37 |
Consumer and Home Equity [Member] | Performing Financing Receivable [Member] | ' | ' |
Performing | 53,726 | 57,851 |
Restructured on Non-Accrual Status | ' | 0 |
Non-accrual | ' | 37 |
Indirect Consumer [Member] | ' | ' |
Performing | 12,938 | 16,211 |
Restructured on Non-Accrual Status | 0 | 0 |
Non-accrual | 24 | 13 |
Indirect Consumer [Member] | Performing Financing Receivable [Member] | ' | ' |
Performing | 12,914 | 16,198 |
Restructured on Non-Accrual Status | ' | 0 |
Non-accrual | ' | $13 |
LOANS_Details_Textual
LOANS (Details Textual) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Financing Receivable, Individually Evaluated for Impairment | $45,617,000 | $60,089,000 | $45,617,000 | $60,089,000 | $44,985,000 |
Troubled Debt Restructurings [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Individually Evaluated for Impairment | 1,500,000 | ' | 1,500,000 | ' | 3,100,000 |
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 242,000 | ' | 78,000 | ' | ' |
Decrease in Provision For Loan And Lease Losses | ' | 7,000 | ' | 6,000 | ' |
Troubled Debt Restructurings Subsequently Default [Member] | ' | ' | ' | ' | ' |
Increase in Provision For Loan And Lease Losses | ' | 1,800,000 | ' | 1,700,000 | ' |
Allowance for Doubtful Accounts Receivable, Write-offs | ' | $141,000 | ' | $141,000 | ' |
REAL_ESTATE_ACQUIRED_THROUGH_F2
REAL ESTATE ACQUIRED THROUGH FORECLOSURE (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Beginning balance, January 1, | $22,286 | $29,083 |
Additions | 2,262 | 18,100 |
Net proceeds from sale of properties | -13,883 | -19,250 |
Writedowns | -1,585 | -5,147 |
Change in valuation allowance | -221 | -500 |
Ending balance | $8,859 | $22,286 |
REAL_ESTATE_ACQUIRED_THROUGH_F3
REAL ESTATE ACQUIRED THROUGH FORECLOSURE (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Beginning balance | $721 | $0 | $500 | $0 |
Provision | 365 | 0 | 1,957 | 0 |
Writedowns and loss on sale | -365 | 0 | -1,736 | 0 |
Ending balance | $721 | $0 | $721 | $0 |
REAL_ESTATE_ACQUIRED_THROUGH_F4
REAL ESTATE ACQUIRED THROUGH FORECLOSURE (Details Textual) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Property Management Costs | $452,000 | $638,000 | $1,300,000 | $3,300,000 |
EARNINGS_LOSS_PER_SHARE_Detail
EARNINGS (LOSS) PER SHARE (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Basic: | ' | ' | ' | ' |
Net income/(loss) | $1,467 | ($751) | $463 | ($5,180) |
Less: | ' | ' | ' | ' |
Preferred stock dividends | -250 | -250 | -750 | -750 |
Accretion on preferred stock discount | -14 | -14 | -41 | -41 |
Net income (loss) available to common shareholders | $1,203 | ($1,015) | ($328) | ($5,971) |
Weighted average common shares (in shares) | 4,860,115 | 4,772,987 | 4,816,538 | 4,766,898 |
Diluted: | ' | ' | ' | ' |
Weighted average common shares (in shares) | 4,905,542 | 4,772,987 | 4,816,538 | 4,766,898 |
Dilutive effect of stock options and warrants (in shares) | 45,000 | 0 | 0 | 0 |
Weighted average common and incremental shares (in shares) | 4,905,000 | 4,773,000 | 4,816,000 | 4,767,000 |
Earnings (Loss) Per Common Share: | ' | ' | ' | ' |
Basic (in dollars per share) | $0.25 | ($0.21) | ($0.07) | ($1.25) |
Diluted (in dollars per share) | $0.25 | ($0.21) | ($0.07) | ($1.25) |
EARNINGS_LOSS_PER_SHARE_Detail1
EARNINGS (LOSS) PER SHARE (Details Textual) | 3 Months Ended |
Sep. 30, 2013 | |
Warrant [Member] | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 215,983 |
Employee Stock Option [Member] | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 238,000 |
STOCK_BASED_COMPENSATION_PLAN_1
STOCK BASED COMPENSATION PLAN (Details) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Assumptions: | ' |
Risk-free interest rate | 2.05% |
Expected dividend yield | 0.00% |
Expected life (years) | '10 years |
Expected common stock market price volatility | 65.00% |
Estimated fair value per share (in dollars pe share) | $1.96 |
STOCK_BASED_COMPENSATION_PLAN_2
STOCK BASED COMPENSATION PLAN (Details 1) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Number of Options Outstanding, beginning of period | ' | 392,740 |
Number of Options Granted during period | ' | 149,000 |
Number of Options Exercised Terminated during period | -132,390 | -132,390 |
Number of Options Forfeited during period | ' | -11,350 |
Number of Options Exercised during period | ' | -200 |
Number of Options Outstanding, end of period | 397,800 | 397,800 |
Number of Options Eligible for exercise at period end | ' | 85,960 |
Weighted Average Exercise Price Outstanding, beginning of period | ' | $9.16 |
Weighted Average Exercise Price Granted during period | ' | $2.70 |
Weighted Average Exercise Price Terminated during period | ' | $17.95 |
Weighted Average Exercise Price Forfeited during period | ' | $4.18 |
Weighted Average Exercise Price Exercised during period | ' | $2.05 |
Weighted Average Exercise Price Outstanding, end of period | $3.96 | $3.96 |
Weighted Average Exercise Price Eligible for exercise at period end | ' | $7.81 |
Weighted Average Remaining Contractual Term Outstanding, end of period | ' | '8 years 3 months 18 days |
Weighted Average Remaining Contractual Term Eligible for exercise at period end | ' | '6 years 10 months 24 days |
Aggregate Intrinsic Value Outstanding, end of period | $449 | $449 |
Aggregate Intrinsic Value Eligible for exercise at period end | $55 | $55 |
STOCK_BASED_COMPENSATION_PLAN_3
STOCK BASED COMPENSATION PLAN (Details 2) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Non-vested Shares, Outstanding, beginning of period | 32,964 |
Non-vested Shares, Granted during period | 122,972 |
Non-vested Shares, Vested during period | -76,217 |
Non-vested Shares, Terminated during period | -17,250 |
Non-vested Shares, Forfeited during period | 0 |
Non-vested Shares, Outstanding, end of period | 62,469 |
Weighted Average Grant Date Fair Value, Outstanding, beginning of period | $3.64 |
Weighted Average Grant Date Fair Value, Granted during period | $3.05 |
Weighted Average Grant Date Fair Value, Vested during period | $3.29 |
Weighted Average Grant Date Fair Value, Terminated during period | $2.84 |
Weighted Average Grant Date Fair Value, Forfeited during period | $0 |
Weighted Average Grant Date Fair Value, Outstanding, end of period | $3.13 |
STOCK_BASED_COMPENSATION_PLAN_4
STOCK BASED COMPENSATION PLAN (Details Textual) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 6 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 07, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | |
Stock Option and Incentive Compensation Plan 2006 [Member] | Stock Option and Incentive Compensation Plan 2006 [Member] | Stock Option and Incentive Compensation Plan 2006 [Member] | Restricted Stock Granted and Incentive Compensation Plan 2006 [Member] | Restricted Stock Granted and Incentive Compensation Plan 2006 [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Initial Award, Received by Non Employee Directors | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,934 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | 149,000 | ' | 763,935 | ' | ' | ' | ' | 20,500 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | ' | ' | 157,630 | ' | ' | ' | ' | ' | 79,472 |
Allocated Share-based Compensation Expense | ' | ' | ' | $113,000 | $86,000 | $281,000 | $116,000 | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | ' | ' | ' | 465,000 | ' | 165,000 | ' | ' | ' | ' |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition 1 | ' | ' | ' | '3 years 6 months | ' | '2 years 4 months 24 days | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | $3.39 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | ' | 0 | ' | ' | ' | ' | ' | ' | ' | 30,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Termination Of Unvested Restricted Stock | ' | ' | ' | ' | ' | ' | ' | 17,250 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | ' | ' | ' | 364 | ' | ' | ' | ' | ' | ' |
Proceeds from Stock Options Exercised | ' | 410 | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | 132,390 | 132,390 | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Settled In Period | $1,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
FAIR_VALUE_Details
FAIR VALUE (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Securities available-for-sale | $290,183 | $354,131 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | 290,183 | 354,131 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | 0 | 0 |
U.S. Treasury and Agencies [Member] | ' | ' |
Securities available-for-sale | ' | 8,278 |
U.S. Treasury and Agencies [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | 0 |
U.S. Treasury and Agencies [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | 8,278 |
U.S. Treasury and Agencies [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | 0 |
Government-sponsored mortgage-backed residential [Member] | ' | ' |
Securities available-for-sale | 114,550 | 144,889 |
Government-sponsored mortgage-backed residential [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | 0 | 0 |
Government-sponsored mortgage-backed residential [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | 114,550 | 144,889 |
Government-sponsored mortgage-backed residential [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | 0 | 0 |
Government-sponsored collateralized mortgage obligations [Member] | ' | ' |
Securities available-for-sale | 77,742 | 150,147 |
Government-sponsored collateralized mortgage obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | 0 | 0 |
Government-sponsored collateralized mortgage obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | 77,742 | 150,147 |
Government-sponsored collateralized mortgage obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | 0 | 0 |
Asset backed-collateralized loan obligations [Member] | ' | ' |
Securities available-for-sale | 32,656 | 5,132 |
Asset backed-collateralized loan obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | 0 | 0 |
Asset backed-collateralized loan obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | 32,656 | 5,132 |
Asset backed-collateralized loan obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | 0 | 0 |
State and municipal [Member] | ' | ' |
Securities available-for-sale | 12,666 | 12,718 |
State and municipal [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | 0 | 0 |
State and municipal [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | 12,666 | 12,718 |
State and municipal [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | 0 | 0 |
Corporate bonds [Member] | ' | ' |
Securities available-for-sale | 52,569 | 32,967 |
Corporate bonds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | 0 | 0 |
Corporate bonds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | 52,569 | 32,967 |
Corporate bonds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | $0 | $0 |
FAIR_VALUE_Details_1
FAIR VALUE (Details 1) (Fair Value, Inputs, Level 3 [Member], USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Beginning balance | $266 | $264 |
Total gains or losses: | ' | ' |
Impairment charges on securities | 0 | 0 |
Included in other comprehensive income | 16 | 18 |
Purchases | 0 | 0 |
Sales or calls | -1 | -1 |
Settlements | 0 | 0 |
Transfers in and/or out of Level 3 | 0 | 0 |
Ending balance | $281 | $281 |
FAIR_VALUE_Details_2
FAIR VALUE (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Impaired Loans [Member] | Commercial Loan [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | $183 | $231 |
Impaired Loans [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Impaired Loans [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Impaired Loans [Member] | Commercial Loan [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 183 | 231 |
Impaired Loans [Member] | Land Improvements [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 1,191 | 1,775 |
Impaired Loans [Member] | Land Improvements [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Impaired Loans [Member] | Land Improvements [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Impaired Loans [Member] | Land Improvements [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 1,191 | 1,775 |
Impaired Loans [Member] | Commercial Real Estate Other Receivable [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 13,433 | 12,560 |
Impaired Loans [Member] | Commercial Real Estate Other Receivable [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Impaired Loans [Member] | Commercial Real Estate Other Receivable [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Impaired Loans [Member] | Commercial Real Estate Other Receivable [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 13,433 | 12,560 |
Impaired Loans [Member] | Residential Mortgage [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 422 | 127 |
Impaired Loans [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Impaired Loans [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Impaired Loans [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 422 | 127 |
Impaired Loans [Member] | Consumer and Home Equity [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 212 | 137 |
Impaired Loans [Member] | Consumer and Home Equity [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Impaired Loans [Member] | Consumer and Home Equity [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Impaired Loans [Member] | Consumer and Home Equity [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 212 | 137 |
Real Estate Acquired through Foreclosure [Member] | Land Improvements [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 918 | 2,459 |
Real Estate Acquired through Foreclosure [Member] | Land Improvements [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Real Estate Acquired through Foreclosure [Member] | Land Improvements [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Real Estate Acquired through Foreclosure [Member] | Land Improvements [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 918 | 2,459 |
Real Estate Acquired through Foreclosure [Member] | Buildings Lot [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | ' | 2,220 |
Real Estate Acquired through Foreclosure [Member] | Buildings Lot [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | ' | 0 |
Real Estate Acquired through Foreclosure [Member] | Buildings Lot [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | ' | 0 |
Real Estate Acquired through Foreclosure [Member] | Buildings Lot [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | ' | 2,220 |
Real Estate Acquired through Foreclosure [Member] | Commercial Real Estate Other Receivable [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 2,951 | 8,350 |
Real Estate Acquired through Foreclosure [Member] | Commercial Real Estate Other Receivable [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Real Estate Acquired through Foreclosure [Member] | Commercial Real Estate Other Receivable [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Real Estate Acquired through Foreclosure [Member] | Commercial Real Estate Other Receivable [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 2,951 | 8,350 |
Real Estate Acquired through Foreclosure [Member] | Residential Mortgage [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 483 | 224 |
Real Estate Acquired through Foreclosure [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Real Estate Acquired through Foreclosure [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Real Estate Acquired through Foreclosure [Member] | Residential Mortgage [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | $483 | $224 |
FAIR_VALUE_Details_3
FAIR VALUE (Details 3) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | Real Estate Acquired Through Foreclosure [Member] | ||
Commercial Loan [Member] | Commercial Loan [Member] | Commercial Loan [Member] | Commercial Loan [Member] | Land Improvements [Member] | Land Improvements [Member] | Land Improvements [Member] | Land Improvements [Member] | Land Improvements [Member] | Land Improvements [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Consumer and Home Equity[Member] | Consumer and Home Equity[Member] | Consumer and Home Equity[Member] | Consumer and Home Equity[Member] | Land Improvements [Member] | Land Improvements [Member] | Land Improvements [Member] | Land Improvements [Member] | Land Improvements [Member] | Land Improvements [Member] | Land Improvements [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Commercial Real Estate Other Receivable [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Buildings Lot [Member] | |||
Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Income Approach Valuation Technique [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | Sales Comparison Approach [Member] | ||||||||||||||||||
Weighted Average [Member] | Maximum [Member] | Minimum [Member] | Weighted Average [Member] | Maximum [Member] | Minimum [Member] | Weighted Average [Member] | Maximum [Member] | Minimum [Member] | Weighted Average [Member] | Maximum [Member] | Minimum [Member] | Weighted Average [Member] | Maximum [Member] | Minimum [Member] | Weighted Average [Member] | Maximum [Member] | Weighted Average [Member] | Weighted Average [Member] | Maximum [Member] | Minimum [Member] | Weighted Average [Member] | Maximum [Member] | Minimum [Member] | Weighted Average [Member] | Maximum [Member] | Minimum [Member] | Weighted Average [Member] | |||||||||||||||||||||||||||||
Assets, Fair Value Disclosure, Nonrecurring | $183 | $231 | $183 | ' | $1,191 | $1,775 | $1,191 | ' | ' | ' | $13,433 | $12,560 | $12,435 | ' | ' | ' | $998 | ' | ' | ' | $422 | $127 | $422 | ' | ' | ' | $212 | ' | ' | ' | $918 | $2,459 | $886 | ' | ' | $32 | ' | $2,951 | $8,350 | $1,009 | ' | ' | ' | $1,942 | ' | ' | ' | $483 | $224 | $483 | ' | ' | ' | $2,220 | ||
Discount or capitalization rate | ' | ' | ' | 1.25% | [1] | ' | ' | ' | 25.00% | 0.00% | 23.23% | ' | ' | ' | 9.00% | 1.25% | 8.73% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29.00% | 23.97% | ' | 8.50% | ' | ' | ' | 10.00% | 8.70% | 9.61% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Adjustment for differences between comparable sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | 0.00% | 2.29% | ' | ' | ' | 3.87% | 0.00% | 1.07% | ' | 2.25% | 1.80% | 1.87% | ' | ' | ' | ' | ' | ' | 0.00% | [1] | ' | ' | ' | ' | ' | ' | ' | 20.00% | 2.75% | 15.24% | ' | ' | ' | 18.00% | 0.00% | 0.82% | ' | |
[1] | Unobservable inputs with a single discount listed include only one property. |
FAIR_VALUE_Details_4
FAIR VALUE (Details 4) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Financial assets: | ' | ' | ' | ' |
Cash and due from banks Carrying Value | $31,517 | $63,103 | $55,337 | $92,236 |
Mortgage loans held for sale Carrying Value | 1,068 | 3,887 | ' | ' |
Loans, net Carrying Value | 448,366 | 492,740 | ' | ' |
Accrued interest receivable Carrying Value | 2,283 | 2,690 | ' | ' |
FHLB stock Carrying Value | 4,430 | 4,805 | ' | ' |
Cash and due from banks Fair Value | 31,517 | 63,103 | ' | ' |
Mortgage loans held for sale Fair Value | 1,085 | 3,967 | ' | ' |
Loans, net Fair Value | 452,066 | 493,998 | ' | ' |
Accrued interest receivable Fair Value | 2,283 | 2,690 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits Carrying Value | 746,878 | 922,620 | ' | ' |
Advances from Federal Home Loan Bank Carrying Value | 38,424 | 12,596 | ' | ' |
Subordinated debentures Carrying Value | 18,000 | 18,000 | ' | ' |
Accrued interest payable Carrying Value | 4,137 | 3,121 | ' | ' |
Deposits Fair Value | 708,766 | 934,637 | ' | ' |
Advances from Federal Home Loan Bank Fair Value | 39,445 | 13,944 | ' | ' |
Subordinated debentures Fair Value | 12,200 | 12,695 | ' | ' |
Accrued interest payable Fair Value | 4,137 | 3,121 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and due from banks Fair Value | 5,970 | 6,468 | ' | ' |
Mortgage loans held for sale Fair Value | 0 | 0 | ' | ' |
Loans, net Fair Value | 0 | 0 | ' | ' |
Accrued interest receivable Fair Value | 0 | 0 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits Fair Value | 0 | 0 | ' | ' |
Advances from Federal Home Loan Bank Fair Value | 0 | 0 | ' | ' |
Subordinated debentures Fair Value | 0 | 0 | ' | ' |
Accrued interest payable Fair Value | 0 | 0 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and due from banks Fair Value | 25,547 | 56,635 | ' | ' |
Mortgage loans held for sale Fair Value | 1,085 | 3,967 | ' | ' |
Loans, net Fair Value | 0 | 0 | ' | ' |
Accrued interest receivable Fair Value | 0 | 0 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits Fair Value | 708,766 | 934,637 | ' | ' |
Advances from Federal Home Loan Bank Fair Value | 39,445 | 13,944 | ' | ' |
Subordinated debentures Fair Value | 0 | 0 | ' | ' |
Accrued interest payable Fair Value | 4,137 | 3,121 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' |
Financial assets: | ' | ' | ' | ' |
Cash and due from banks Fair Value | 0 | 0 | ' | ' |
Mortgage loans held for sale Fair Value | 0 | 0 | ' | ' |
Loans, net Fair Value | 452,066 | 493,998 | ' | ' |
Accrued interest receivable Fair Value | 2,283 | 2,690 | ' | ' |
Financial liabilities: | ' | ' | ' | ' |
Deposits Fair Value | 0 | 0 | ' | ' |
Advances from Federal Home Loan Bank Fair Value | 0 | 0 | ' | ' |
Subordinated debentures Fair Value | 12,200 | 12,695 | ' | ' |
Accrued interest payable Fair Value | $0 | $0 | ' | ' |
FAIR_VALUE_Details_Textual
FAIR VALUE (Details Textual) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Loans Pledged as Collateral | $19,300,000 | $35,100,000 | $19,300,000 | $35,100,000 |
Valuation Allowances and Reserves, Adjustments | ' | ' | 3,900,000 | 5,000,000 |
Net Interest Income (Loss) after Provision for Loan Losses | 6,527,000 | 3,562,000 | 19,247,000 | 15,619,000 |
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 32,000 | 600,000 | ' | 2,500,000 |
Other Real Estate Valuation Adjustments | 300,000 | 1,400,000 | 1,800,000 | 4,900,000 |
Impaired Loans [Member] | ' | ' | ' | ' |
Net Interest Income (Loss) after Provision for Loan Losses | ' | ' | $310,000 | ' |
SUBORDINATED_DEBENTURES_Detail
SUBORDINATED DEBENTURES (Details Textual) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Junior Subordinated Notes | $18 |
Debt Instrument, Increase, Accrued Interest | $4.10 |
PREFERRED_STOCK_Details_Textua
PREFERRED STOCK (Details Textual) (USD $) | 1 Months Ended | 9 Months Ended | 9 Months Ended | 1 Months Ended | |||
Apr. 29, 2013 | Oct. 14, 2008 | Sep. 30, 2013 | Dec. 31, 2012 | Jan. 09, 2009 | Sep. 30, 2013 | Dec. 08, 2008 | |
Warrant [Member] | Warrant [Member] | ||||||
US Treasury [Member] | |||||||
Preferred Stock, Liquidation Preference, Value | ' | ' | $23,200,000 | $22,500,000 | $20,000,000 | ' | ' |
Preferred Stock, Liquidation Preference Per Share | ' | ' | ' | ' | $1,000 | ' | ' |
Cumulative Dividends, Percentage | ' | ' | ' | ' | 5.00% | ' | ' |
Cumulative Dividends, Percentage After Five Years | ' | ' | ' | ' | 9.00% | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | 122,972 | ' | ' | ' | 215,983 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | $3.05 | ' | ' | ' | $13.89 |
Percentage of Aggregate Amount of Preferred Stock Value | ' | ' | ' | ' | ' | ' | 15.00% |
Preferred Stock, Value, Issued | ' | ' | 19,984,000 | 19,943,000 | ' | ' | 3,000,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | ' | ' | ' | ' | ' | '10 years | ' |
Dividends Payable | ' | ' | 3,200,000 | ' | ' | ' | ' |
Preferred Stock, Dividends Per Share, Declared | ' | $0.19 | ' | ' | ' | ' | ' |
Preferred Stock, Value, Outstanding | $20,000,000 | ' | ' | ' | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | 5.00% | ' | ' | ' | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage, Contingent upon Treasury Acceptance | 9.00% | ' | ' | ' | ' | ' | ' |
STOCKHOLDERS_EQUITY_Details
STOCKHOLDERS' EQUITY (Details) (USD $) | Sep. 30, 2013 | Jan. 01, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Consolidated [Member] | Consolidated [Member] | Bank [Member] | Bank [Member] | ||
Total risk-based capital (to risk- weighted assets), Actual Amount | ' | ' | $68,533 | $68,791 | $75,542 | $73,951 |
Total risk-based capital (to risk- weighted assets), Actual Ratio | 13.09% | 12.00% | 11.88% | 11.36% | 13.09% | 12.21% |
Total risk-based capital (to risk- weighted assets) For Capital Adequacy Purposes Amount | ' | ' | 46,164 | 48,438 | 46,161 | 48,439 |
Total risk-based capital (to risk- weighted assets) For Capital Adequacy Purposes Ratio | ' | ' | 8.00% | 8.00% | 8.00% | 8.00% |
Total risk-based capital (to risk-weighted assets) Required by Consent Order Amount | ' | ' | 69,246 | 72,657 | 69,241 | 72,658 |
Total risk-based capital (to risk-weighted assets) Required by Consent Order Ratio | ' | ' | 12.00% | 12.00% | 12.00% | 12.00% |
Tier I capital (to risk-weighted assets) Actual Amount | ' | ' | 57,677 | 57,471 | 68,258 | 66,256 |
Tier I capital (to risk-weighted assets) Actual Ratio | ' | 9.00% | 10.00% | 9.49% | 11.83% | 10.94% |
Tier I capital (to risk-weighted assets) For Capital Adequacy Purposes Amount | ' | ' | 23,082 | 24,219 | 23,080 | 24,219 |
Tier I capital (to risk-weighted assets) For Capital Adequacy Purposes Ratio | ' | ' | 4.00% | 4.00% | 4.00% | 4.00% |
Tier I capital (to average assets) Actual Amount | ' | ' | 57,677 | 57,471 | 68,258 | 66,256 |
Tier I capital (to average assets) Actual Ratio | ' | ' | 6.60% | 5.67% | 7.80% | 6.53% |
Tier I capital (to average assets) For Capital Adequacy Purposes Amount | ' | ' | 34,962 | 40,580 | 35,015 | 40,608 |
Tier I capital (to average assets) For Capital Adequacy Purposes Ratio | ' | ' | 4.00% | 4.00% | 4.00% | 4.00% |
Tier I capital (to average assets) Required by Consent Order Amount | ' | ' | $78,665 | $91,304 | $78,783 | $91,368 |
Tier I capital (to average assets) Required by Consent Order Ratio | ' | ' | 9.00% | 9.00% | 9.00% | 9.00% |
CHANGES_IN_AND_RECLASSIFICATIO2
CHANGES IN AND RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | ||
Unrealized Gains and Losses on Available-for-Sale Securities, Beginning balance | ($7,285) | [1] | $1,270 | [1] |
Other comprehensive income (loss) before reclassification | -1,438 | [1] | -9,766 | [1] |
Amounts reclassified from accumulated other comprehensive income | -12 | [1] | -239 | [1] |
Net other comprehensive income (loss) | -1,450 | [1] | -10,005 | [1] |
Unrealized Gains and Losses on Available-for-Sale Securities, Ending balance | ($8,735) | [1] | ($8,735) | [1] |
[1] | All amounts are net of tax. |
CHANGES_IN_AND_RECLASSIFICATIO3
CHANGES IN AND RECLASSIFICATIONS FROM ACCUMULATED OTHER COMPREHENSIVE INCOME (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | ||
Unrealized gains and losses on available-for-sale securities, Gain on sales of investments | $235 | $1,078 | ||
Unrealized gains and losses on available-for-sale securities, Loss on sale of investments | -223 | -839 | ||
Unrealized gains and losses on available-for-sale securities, Total before tax | 12 | 239 | ||
Unrealized gains and losses on available-for-sale securities, Income taxes/(benefits) | 0 | 0 | ||
Total amount reclassified, Net income (loss) | $12 | [1] | $239 | [1] |
[1] | All amounts are net of tax. |