Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 10, 2015 | |
Document Information [Line Items] | ||
Entity Registrant Name | EMCLAIRE FINANCIAL CORP | |
Entity Central Index Key | 858,800 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | EMCF | |
Entity Common Stock, Shares Outstanding | 2,134,858 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,015 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks | $ 2,684 | $ 2,386 |
Interest earning deposits with banks | 9,225 | 9,470 |
Cash and cash equivalents | 11,909 | 11,856 |
Securities available for sale | 146,715 | 149,861 |
Loans receivable, net of allowance for loan losses of $5,370 and $5,224 | 396,643 | 379,648 |
Federal bank stocks, at cost | 2,512 | 2,406 |
Bank-owned life insurance | 10,890 | 10,728 |
Accrued interest receivable | 1,548 | 1,543 |
Premises and equipment, net | 15,048 | 15,144 |
Goodwill | 3,664 | 3,664 |
Core deposit intangible, net | 652 | 749 |
Prepaid expenses and other assets | 9,565 | 6,310 |
Total Assets | 599,146 | 581,909 |
Deposits: | ||
Non-interest bearing | 115,551 | 111,282 |
Interest bearing | 396,861 | 390,537 |
Total deposits | 512,412 | 501,819 |
Short-term borrowed funds | 7,500 | 6,500 |
Long-term borrowed funds | 15,000 | 15,000 |
Accrued interest payable | 187 | 199 |
Accrued expenses and other liabilities | 7,146 | 10,401 |
Total Liabilities | 542,245 | 533,919 |
Commitments and Contingent Liabilities | 0 | 0 |
Stockholders' Equity: | ||
Common stock, $1.25 par value, 12,000,000 shares authorized; 2,235,875 and 1,882,675 shares issued; 2,133,858 and 1,780,658 shares outstanding, respectively | 2,795 | 2,353 |
Additional paid-in capital | 27,573 | 19,740 |
Treasury stock, at cost; 102,017 shares | (2,114) | (2,114) |
Retained earnings | 26,811 | 26,009 |
Accumulated other comprehensive loss | (3,164) | (2,998) |
Total Stockholders' Equity | 56,901 | 47,990 |
Total Liabilities and Stockholders' Equity | 599,146 | 581,909 |
Series B Non Cumulative Preferred Stock [Member] | ||
Stockholders' Equity: | ||
Preferred stock, $1.00 par value, 3,000,000 shares authorized; Series B, non-cumulative preferred stock, $5,000 liquidation value, 5,000 shares issued and outstanding | $ 5,000 | $ 5,000 |
Consolidated Balance Sheets _Pa
Consolidated Balance Sheets [Parenthetical] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Allowance for loan losses (in dollars) | $ 5,370 | $ 5,224 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized | 3,000,000 | 3,000,000 |
Common stock, par value (in dollars per share) | $ 1.25 | $ 1.25 |
Common stock, shares authorized | 12,000,000 | 12,000,000 |
Common stock, shares issued | 2,235,875 | 1,882,675 |
Common stock, shares outstanding | 2,133,858 | 1,780,658 |
Treasury stock, shares | 102,017 | 102,017 |
Series B Non Cumulative Preferred Stock [Member] | ||
Preferred stock, liquidation value (in dollars) | $ 5,000 | $ 5,000 |
Preferred stock, shares issued | 5,000 | 5,000 |
Preferred stock, shares outstanding | 5,000 | 5,000 |
Consolidated Statements of Net
Consolidated Statements of Net Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest and dividend income: | ||||
Loans receivable, including fees | $ 4,470 | $ 4,089 | $ 8,670 | $ 8,119 |
Securities: | ||||
Taxable | 520 | 493 | 1,045 | 897 |
Exempt from federal income tax | 214 | 253 | 435 | 518 |
Federal bank stocks | 29 | 44 | 102 | 79 |
Interest earning deposits with banks | 19 | 27 | 34 | 38 |
Total interest and dividend income | 5,252 | 4,906 | 10,286 | 9,651 |
Interest expense: | ||||
Deposits | 535 | 607 | 1,082 | 1,169 |
Borrowed funds | 177 | 149 | 359 | 329 |
Total interest expense | 712 | 756 | 1,441 | 1,498 |
Net interest income | 4,540 | 4,150 | 8,845 | 8,153 |
Provision for loan losses | 203 | 183 | 371 | 345 |
Net interest income after provision for loan losses | 4,337 | 3,967 | 8,474 | 7,808 |
Noninterest income: | ||||
Fees and service charges | 378 | 394 | 726 | 771 |
Commissions on financial services | 5 | 13 | 10 | 22 |
Title premiums | 6 | 15 | 17 | 24 |
Net gain on sales of available for sale securities | 34 | 0 | 34 | 658 |
Earnings on bank-owned life insurance | 97 | 93 | 194 | 192 |
Other | 328 | 318 | 646 | 605 |
Total noninterest income | 848 | 833 | 1,627 | 2,272 |
Noninterest expense: | ||||
Compensation and employee benefits | 2,050 | 1,832 | 4,118 | 3,774 |
Premises and equipment | 655 | 604 | 1,324 | 1,204 |
Intangible asset amortization | 49 | 57 | 98 | 113 |
Professional fees | 178 | 183 | 380 | 346 |
Federal deposit insurance | 98 | 88 | 195 | 176 |
Other | 981 | 942 | 1,861 | 2,314 |
Total noninterest expense | 4,011 | 3,706 | 7,976 | 7,927 |
Income before provision for income taxes | 1,174 | 1,094 | 2,125 | 2,153 |
Provision for income taxes | 247 | 216 | 417 | 433 |
Net income | 927 | 878 | 1,708 | 1,720 |
Preferred stock dividends | 25 | 25 | 50 | 50 |
Net income available to common stockholders | $ 902 | $ 853 | $ 1,658 | $ 1,670 |
Basic earnings per common share (in dollars per share) | $ 0.48 | $ 0.48 | $ 0.91 | $ 0.94 |
Diluted earnings per common share (in dollars per share) | $ 0.48 | $ 0.48 | $ 0.90 | $ 0.94 |
Average common shares outstanding (in shares) | 1,864,298 | 1,770,158 | 1,823,086 | 1,769,775 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net income | $ 927 | $ 878 | $ 1,708 | $ 1,720 |
Unrealized gains on securities: | ||||
Unrealized holding gain (loss) arising during the period | (1,256) | 1,525 | (218) | 2,755 |
Reclassification adjustment for gains included in net income | (34) | 0 | (34) | (658) |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax, Total | (1,290) | 1,525 | (252) | 2,097 |
Tax effect | 439 | (519) | 86 | (713) |
Net of tax | (851) | 1,006 | (166) | 1,384 |
Comprehensive income | $ 76 | $ 1,884 | $ 1,542 | $ 3,104 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flows from operating activities | ||
Net income | $ 1,708 | $ 1,720 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 500 | 386 |
Provision for loan losses | 371 | 345 |
Amortization of premiums, net | 166 | 127 |
Amortization of intangible assets and mortgage servicing rights | 98 | 113 |
Realized gains on sales of available for sale securities, net | (34) | (658) |
Net gains on foreclosed real estate | (18) | (14) |
Stock compensation expense | 108 | 84 |
Increase in bank-owned life insurance, net | (162) | (161) |
Increase in accrued interest receivable | (5) | (64) |
(Increase) decrease in prepaid expenses and other assets | (2,997) | 169 |
Decrease in accrued interest payable | (12) | (39) |
Increase (decrease) in accrued expenses and other liabilities | (237) | 117 |
Net cash (used in) provided by operating activities | (514) | 2,125 |
Cash flows from investing activities | ||
Loan originations and principal collections, net | 864 | (8,531) |
Purchase of residential mortgage loans | (14,647) | 0 |
Settlement of syndicated national credits | (7,039) | 0 |
Available for sale securities: | ||
Sales | 1,791 | 21,559 |
Maturities, repayments and calls | 12,701 | 5,227 |
Purchases | (11,555) | (53,255) |
(Purchase) redemption of federal bank stocks | (106) | 1,186 |
Proceeds from the sale of foreclosed real estate | 102 | 121 |
Write-down of foreclosed real estate | 6 | 0 |
Additions to premises and equipment | (404) | (2,190) |
Net cash used in investing activities | (18,287) | (35,883) |
Cash flows from financing activities | ||
Net increase in deposits | 10,593 | 82,397 |
Repayments on Federal Home Loan Bank advances | 0 | (5,000) |
Net change in short-term borrowings | 1,000 | (22,000) |
Proceeds from exercise of stock options, including tax benefit | 4 | 26 |
Dividends paid | (905) | (829) |
Proceeds from the issuance of common stock | 8,162 | 0 |
Net cash provided by financing activities | 18,854 | 54,594 |
Increase in cash and cash equivalents | 53 | 20,836 |
Cash and cash equivalents at beginning of period | 11,856 | 16,658 |
Cash and cash equivalents at end of period | 11,909 | 37,494 |
Supplemental information: | ||
Interest paid | 1,453 | 1,537 |
Income taxes paid | 525 | 0 |
Supplemental noncash disclosure: | ||
Transfers from loans to foreclosed real estate | $ 263 | $ 20 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Total |
Balance at beginning of period at Dec. 31, 2013 | $ 45,072 |
Net income | 1,720 |
Other comprehensive income | 1,384 |
Stock compensation expense | 84 |
Dividends declared on preferred stock | (50) |
Dividends declared on common stock | (779) |
Exercise of stock options, including tax benefit | 26 |
Issuance of common stock (350,000 shares) | 0 |
Balance at end of period at Jun. 30, 2014 | $ 47,457 |
Cash dividend per common share | $ 0.44 |
Balance at beginning of period at Mar. 31, 2014 | $ 45,945 |
Net income | 878 |
Other comprehensive income | 1,006 |
Stock compensation expense | 42 |
Dividends declared on preferred stock | (25) |
Dividends declared on common stock | (389) |
Exercise of stock options, including tax benefit | 0 |
Issuance of common stock (350,000 shares) | 0 |
Balance at end of period at Jun. 30, 2014 | $ 47,457 |
Cash dividend per common share | $ 0.22 |
Balance at beginning of period at Dec. 31, 2014 | $ 47,990 |
Net income | 1,708 |
Other comprehensive income | (166) |
Stock compensation expense | 108 |
Dividends declared on preferred stock | (50) |
Dividends declared on common stock | (855) |
Exercise of stock options, including tax benefit | 4 |
Issuance of common stock (350,000 shares) | 8,162 |
Balance at end of period at Jun. 30, 2015 | $ 56,901 |
Cash dividend per common share | $ 0.48 |
Balance at beginning of period at Mar. 31, 2015 | $ 49,061 |
Net income | 927 |
Other comprehensive income | (851) |
Stock compensation expense | 55 |
Dividends declared on preferred stock | (25) |
Dividends declared on common stock | (428) |
Exercise of stock options, including tax benefit | 0 |
Issuance of common stock (350,000 shares) | 8,162 |
Balance at end of period at Jun. 30, 2015 | $ 56,901 |
Cash dividend per common share | $ 0.24 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Stockholders' Equity [Parenthetical] - Jun. 30, 2015 - shares | Total | Total |
Stock Issued During Period, Shares, New Issues | 350,000 | 350,000 |
Nature of Operations and Basis
Nature of Operations and Basis of Presentation | 6 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Nature of Operations and Basis of Presentation Emclaire Financial Corp (the Corporation) is a Pennsylvania corporation and the holding company of The Farmers National Bank of Emlenton (the Bank) and Emclaire Settlement Services, LLC (the Title Company). The Corporation provides a variety of financial services to individuals and businesses through its offices in Western Pennsylvania. Its primary deposit products are checking, savings and term certificate accounts and its primary lending products are residential and commercial mortgages, commercial business loans and consumer loans. The consolidated financial statements include the accounts of the Corporation and its wholly owned subsidiaries, the Bank and the Title Company. All significant intercompany transactions and balances have been eliminated in preparing the consolidated financial statements. The accompanying unaudited consolidated financial statements for the interim periods include all adjustments, consisting of normal recurring accruals, which are necessary, in the opinion of management, to fairly reflect the Corporation’s consolidated financial position and results of operations. Additionally, these consolidated financial statements for the interim periods have been prepared in accordance with instructions for the Securities and Exchange Commission’s (SEC’s) Form 10-Q and Article 10 of Regulation S-X and therefore do not include all information or footnotes necessary for a complete presentation of financial condition, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America (GAAP). For further information, refer to the audited consolidated financial statements and footnotes thereto for the year ended December 31, 2014, as contained in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2014 filed with the SEC. The balance sheet at December 31, 2014 has been derived from the audited financial statements at that date but does not include all the information and footnotes required by GAAP for complete financial statements. The preparation of financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. The results of operations for interim quarterly or year-to-date periods are not necessarily indicative of the results that may be expected for the entire year or any other period. Certain amounts previously reported may have been reclassified to conform to the current year’s financial statement presentation. |
Issuance of Common Stock
Issuance of Common Stock | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | 2. Issuance of Common Stock On June 10, 2015, the Corporation sold 350,000 1.25 23.50 8.2 63,000 |
Participation in the Small Busi
Participation in the Small Business Lending Fund (SBLF) of the U.S. Treasury Department (U.S. Treasury) | 6 Months Ended |
Jun. 30, 2015 | |
Participation In Small Business Lending Fund Self Of U S Treasury Department U S Treasury and Repurchase Of Shares Issued Under Troubled Asset Relief Program Tarp [Abstract] | |
Participation In Small Business Lending Fund and Repurchase Of Shares Issued Under Troubled Asset Relief Program [Text Block] | Participation in the Small Business Lending Fund (SBLF) of the U.S. Treasury Department (U.S. Treasury) On August 18, 2011, the Corporation entered into a Securities Purchase Agreement (the Agreement) with the U.S. Treasury Department, pursuant to which the Corporation issued and sold to the U.S. Treasury 10,000 1,000 10.0 5,000 50 5.0 5,000 5.0 The Series B Preferred Stock is entitled to receive non-cumulative dividends payable quarterly on each January 1, April 1, July 1 and October 1, beginning October 1, 2011. The dividend rate, which is calculated on the aggregate liquidation amount, was initially set at 5 1 5 9 Holders of the Series B Preferred Stock have the right to vote as a separate class on certain matters relating to the rights of holders of Series B Preferred Stock and on certain corporate transactions. Except with respect to such matters, the Series B Preferred Stock does not have voting rights. The Corporation may redeem the shares of Series B Preferred Stock, in whole or in part, at any time at a redemption price equal to the sum of the liquidation amount and the per-share amount of any unpaid dividends for the then-current period, subject to any required prior approval by the Corporation’s primary federal banking regulator. If redeemed in part, payments are required to be at least 25% of the original issuance. |
Earnings Per Common Share
Earnings Per Common Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Earnings per Common Share Basic earnings per common share (EPS) excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS includes the dilutive effect of additional potential common shares for assumed issuance of restricted stock and shares issued under stock options. (Dollar amounts in thousands, except for per share amounts) For the three months ended For the six months ended June 30, June 30, 2015 2014 2015 2014 Earnings per common share - basic Net income $ 927 $ 878 $ 1,708 $ 1,720 Less: Preferred stock dividends 25 25 50 50 Net income available to common stockholders $ 902 $ 853 $ 1,658 $ 1,670 Average common shares outstanding 1,864,298 1,770,158 1,823,086 1,769,775 Basic earnings per common share $ 0.48 $ 0.48 $ 0.91 $ 0.94 Earnings per common share - diluted Net income available to common stockholders $ 902 $ 853 $ 1,658 $ 1,670 Average common shares outstanding 1,864,298 1,770,158 1,823,086 1,769,775 Add: Dilutive effects of assumed issuance of restricted stock and exercise of stock options 11,962 14,691 11,301 13,893 Average shares and dilutive potential common shares 1,876,260 1,784,849 1,834,387 1,783,668 Diluted earnings per common share $ 0.48 $ 0.48 $ 0.90 $ 0.94 Stock options not considered in computing earnings per share because they were antidilutive 67,000 67,000 67,000 67,000 |
Securities
Securities | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities [Text Block] | Securities (Dollar amounts in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available for sale: June 30, 2015: U.S. Treasury and federal agency $ 1,492 $ - $ (24) $ 1,468 U.S. government sponsored entities and agencies 36,458 41 (69) 36,430 U.S. agency mortgage-backed securities: residential 34,001 447 - 34,448 U.S. agency collateralized mortgage obligations: residential 34,955 19 (877) 34,097 State and political subdivisions 33,395 477 (261) 33,611 Corporate debt securities 4,010 1 (9) 4,002 Equity securities 2,356 360 (57) 2,659 $ 146,667 $ 1,345 $ (1,297) $ 146,715 December 31, 2014: U.S. Treasury and federal agency $ 1,491 $ - $ (35) $ 1,456 U.S. government sponsored entities and agencies 35,452 10 (238) 35,224 U.S. agency mortgage-backed securities: residential 38,026 745 - 38,771 U.S. agency collateralized mortgage obligations: residential 37,564 16 (963) 36,617 State and political subdivisions 32,665 550 (191) 33,024 Corporate debt securities 2,006 - (8) 1,998 Equity securities 2,356 415 - 2,771 $ 149,560 $ 1,736 $ (1,435) $ 149,861 The following table summarizes scheduled maturities of the Corporation’s debt securities as of June 30, 2015. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollar amounts in thousands) Available for sale Amortized Fair Cost Value Due in one year or less $ - $ - Due after one year through five years 50,470 50,585 Due after five through ten years 22,894 22,975 Due after ten years 1,990 1,951 Mortgage-backed securities: residential 34,001 34,448 Collateralized mortgage obligations: residential 34,955 34,097 $ 144,310 $ 144,056 (Dollar amounts in thousands) Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Loss Value Loss Value Loss June 30, 2015: U.S. Treasury and federal agency $ - $ - $ 1,468 $ (24) $ 1,468 $ (24) U.S. government sponsored entities and agencies 13,826 (23) 9,951 (46) 23,777 (69) U.S. agency collateralized mortgage obligations: residential 4,821 (35) 27,459 (842) 32,280 (877) State and political subdivisions 11,277 (146) 3,726 (115) 15,003 (261) Corporate debt securities 3,002 (8) 500 (1) 3,502 (9) Equity securities 893 (57) - - 893 (57) $ 33,819 $ (269) $ 43,104 $ (1,028) $ 76,923 $ (1,297) December 31, 2014: U.S. Treasury and federal agency $ - $ - $ 1,456 $ (35) $ 1,456 $ (35) U.S. government sponsored entities and agencies 11,412 (51) 16,805 (187) 28,217 (238) U.S. agency collateralized mortgage obligations: residential 2,715 (14) 30,594 (949) 33,309 (963) State and political subdivisions 5,154 (22) 10,221 (169) 15,375 (191) Corporate debt securities 1,998 (8) - - 1,998 (8) $ 21,279 $ (95) $ 59,076 $ (1,340) $ 80,355 $ (1,435) (Dollar amounts in thousands) For the three months For the six months ended June 30, ended June 30, 2015 2014 2015 2014 Proceeds $ 1,791 $ - $ 1,791 $ 21,559 Gains 34 - 34 658 Tax provision related to gains 12 - 12 224 Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic, market or other conditions warrant such evaluation. Consideration is given to: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions and (4) whether the Corporation has the intent to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis. If the Corporation intends to sell an impaired security, or if it is more likely than not the Corporation will be required to sell the security before its anticipated recovery, the Corporation records an other-than-temporary loss in an amount equal to the entire difference between fair value and amortized cost. Otherwise, only the credit portion of the estimated loss on debt securities is recognized in earnings, with the other portion of the loss recognized in other comprehensive income. For equity securities determined to be other-than-temporarily impaired, the entire amount of impairment is recognized through earnings. There was one equity security in an unrealized loss position for less than 12 months as of June 30, 2015. Equity securities owned by the Corporation consist of common stock of various financial service providers. The investment security is in an unrealized loss position as a result of recent market volatility. The Corporation does not invest in these securities with the intent to sell them for a profit in the near term. For investments in equity securities, in addition to the general factors mentioned above for determining whether the decline in market value is other-than-temporary, the analysis of whether an equity security is other-than-temporarily impaired includes a review of the profitability, capital adequacy and other relevant information available to determine the financial position and near term prospects of each issuer. The results of analyzing the aforementioned metrics and financial fundamentals suggest recovery of amortized cost as the sector improves. Based on that evaluation, and given that the Corporation’s current intention is not to sell any impaired security and it is more likely than not it will not be required to sell this security before the recovery of its amortized cost basis, the Corporation does not consider the equity security with an unrealized loss as of June 30, 2015 to be other-than-temporarily impaired. There were 105 debt securities in an unrealized loss position as of June 30, 2015, of which 49 were in an unrealized loss position for more than 12 months. Of these 49 securities, 2 were U.S. Treasury securities, 7 were U.S. government sponsored entity and agency securities, 22 were government-backed collateralized mortgage obligations, 17 were state and political subdivision securities and 1 was a corporate debt security. The unrealized losses associated with these securities were not due to the deterioration in the credit quality of the issuer that would likely result in the non-collection of contractual principal and interest, but rather have been caused by a rise in interest rates from the time the securities were purchased. Based on that evaluation and other general considerations, and given that the Corporation’s current intention is not to sell any impaired securities and it is more likely than not it will not be required to sell these securities before the recovery of its amortized cost basis, the Corporation does not consider the debt securities with unrealized losses as of June 30, 2015 to be other-than-temporarily impaired. |
Loans Receivable and Related Al
Loans Receivable and Related Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2015 | |
Loans Notes Trade and Other Receivables Disclosure [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Loans Receivable and Related Allowance for Loan Losses (Dollar amounts in thousands) June 30, December 31, 2015 2014 Mortgage loans on real estate: Residential first mortgages $ 122,587 $ 107,173 Home equity loans and lines of credit 89,679 89,106 Commercial real estate 112,087 110,810 324,353 307,089 Other loans: Commercial business 70,663 70,185 Consumer 6,997 7,598 77,660 77,783 Total loans, gross 402,013 384,872 Less allowance for loan losses 5,370 5,224 Total loans, net $ 396,643 $ 379,648 During the second quarter of 2015, the Corporation purchased four syndicated national credits (SNCs) each having a principal amount of $ 1.0 4.0 21,000 1.0 4.0 15,000 11,000 Until sufficient historical performance data can be collected and analyzed, these During the six months ended June 30, 2015, the Corporation received $ 1.5 1.0 6.5 (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months As of June 30, 2015 ended June 30, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Related Recorded Recognized Recognized Balance Investment Allowance Investment in Period in Period Residential first mortgages $ 169 $ 169 $ 27 $ 170 $ 2 $ 2 Home equity and lines of credit - - - - - - Commercial real estate 3,538 2,597 216 2,603 49 41 Commercial business 1,159 1,159 342 1,859 118 106 Consumer - - - - - - Total $ 4,866 $ 3,925 $ 585 $ 4,632 $ 169 $ 149 For the six months ended June 30, 2015 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 170 $ 4 $ 4 Home equity and lines of credit - - - Commercial real estate 2,627 49 41 Commercial business 2,113 118 106 Consumer - - - Total $ 4,910 $ 171 $ 151 Impaired Loans with No Specific Allowance For the three months As of June 30, 2015 ended June 30, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ - $ - $ 55 $ 7 $ 7 Home equity and lines of credit - - - - - Commercial real estate 805 406 608 1 1 Commercial business 73 73 62 - - Consumer - - - - - Total $ 878 $ 479 $ 725 $ 8 $ 8 For the six months ended June 30, 2015 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 75 $ 7 $ 7 Home equity and lines of credit - - - Commercial real estate 690 6 6 Commercial business 58 2 2 Consumer - - - Total $ 823 $ 15 $ 15 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of December 31, 2014: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the year ended As of December 31, 2014 December 31, 2014 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Related Recorded Recognized Recognized Balance Investment Allowance Investment in Period in Period Residential first mortgages $ 171 $ 171 $ 27 $ 136 $ 12 $ 12 Home equity and lines of credit - - - - - - Commercial real estate 3,615 2,674 268 2,673 16 - Commercial business 2,622 2,622 495 1,524 66 - Consumer - - - - - - Total $ 6,408 $ 5,467 $ 790 $ 4,333 $ 94 $ 12 Impaired Loans with No Specific Allowance For the year ended As of December 31, 2014 December 31, 2014 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ 114 $ 114 $ 74 $ 2 $ - Home equity and lines of credit - - - - - Commercial real estate 1,254 855 839 15 4 Commercial business 51 51 250 1 1 Consumer - - 1,078 533 533 Total $ 1,419 $ 1,020 $ 2,241 $ 551 $ 538 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of June 30, 2014: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months As of June 30, 2014 ended June 30, 2014 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Related Recorded Recognized Recognized Balance Investment Allowance Investment in Period in Period Residential first mortgages $ 172 $ 172 $ 28 $ 127 $ 8 $ 2 Home equity and lines of credit - - - - - - Commercial real estate 3,649 2,708 227 2,715 10 10 Commercial business 2,210 2,210 540 1,314 51 4 Consumer - - - - - - Total $ 6,031 $ 5,090 $ 795 $ 4,156 $ 69 $ 16 For the six months ended June 30, 2014 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 112 $ 9 $ 3 Home equity and lines of credit - - - Commercial real estate 2,650 17 12 Commercial business 876 56 4 Consumer - - - Total $ 3,638 $ 82 $ 19 Impaired Loans with No Specific Allowance For the three months As of June 30, 2014 ended June 30, 2014 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ 118 $ 118 $ 59 $ 2 $ - Home equity and lines of credit - - - - - Commercial real estate 1,488 1,089 896 12 1 Commercial business 430 428 407 1 1 Consumer 1,348 1,348 1,348 - - Total $ 3,384 $ 2,983 $ 2,710 $ 15 $ 2 For the six months ended June 30, 2014 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 46 $ 2 $ - Home equity and lines of credit - - - Commercial real estate 823 14 3 Commercial business 383 1 1 Consumer 1,348 - - Total $ 2,600 $ 17 $ 4 Unpaid principal balance includes any loans that have been partially charged off but not forgiven. Accrued interest is not included in the recorded investment in loans based on the amounts not being material. Troubled debt restructurings (TDR). The Corporation has certain loans that have been modified in order to maximize collection of loan balances. If, for economic or legal reasons related to the customer’s financial difficulties, management grants a concession compared to the original terms and conditions of the loan that it would not have otherwise considered, the modified loan is classified as a TDR. Concessions related to TDRs generally do not include forgiveness of principal balances. The Corporation generally does not extend additional credit to borrowers with loans classified as TDRs. At June 30, 2015 and December 31, 2014, the Corporation had $ 2.7 5.6 170,000 513,000 During the three and six month periods ended June 30, 2015, the Corporation did not modify any loans as TDRs. During the three and six month periods ended June 30, 2014, the Corporation modified eleven eight 2.4 two 2.1 76,000 93,000 5,000 13,000 6.25% 5.00% 15 year A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. During the three and six month periods ended June 30, 2015, there was a default on one $ 90,000 Credit Quality Indicators. Management categorizes 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. Commercial real estate and commercial business loans not identified as impaired are evaluated as risk rated pools of loans utilizing a risk rating practice that is supported by a quarterly special asset review. In this review process, strengths and weaknesses are identified, evaluated and documented for each criticized and classified loan and borrower, strategic action plans are developed, risk ratings are confirmed and the loan’s performance status is reviewed. Management has determined certain portions of the loan portfolio to be homogeneous in nature and assigns like reserve factors for the following loan pool types: residential real estate, home equity loans and lines of credit, and consumer installment and personal lines of credit. The reserve allocation for risk rated loan pools is developed by applying the following factors: Historic: Management utilizes a computer model to develop the historical net charge-off experience which is used to formulate the assumptions employed in the migration analysis applied to estimate future losses in the portfolio. Outstanding balance and charge-off information are input into the model and historical loss migration rate assumptions are developed to apply to pass, special mention, substandard and doubtful risk rated loans. A twelve-quarter rolling weighted-average is utilized to estimate probable incurred losses in the portfolios. Qualitative : Qualitative adjustment factors for pass, special mention, substandard and doubtful ratings are developed and applied to risk rated loans to allow for: quality of lending policies and procedures; national and local economic and business conditions; changes in the nature and volume of the portfolio; experiences, ability and depth of lending management; changes in trends, volume and severity of past due, nonaccrual and classified loans and loss and recovery trends; quality of loan review systems; concentrations of credit and other external factors. Management uses the following definitions for risk ratings: Pass: Loans classified as pass typically exhibit good payment performance and have underlying borrowers with acceptable financial trends where repayment capacity is evident. These borrowers typically would have a sufficient cash flow that would allow them to weather an economic downturn and the value of any underlying collateral could withstand a moderate degree of depreciation due to economic conditions. Special Mention: Loans classified as special mention are characterized by potential weaknesses that could jeopardize repayment as contractually agreed. These loans may exhibit adverse trends such as increasing leverage, shrinking profit margins and/or deteriorating cash flows. These borrowers would inherently be more vulnerable to the application of economic pressures. Substandard: Loans classified as substandard exhibit weaknesses that are well-defined to the point that repayment is jeopardized. Typically, the Corporation is no longer adequately protected by both the apparent net worth and repayment capacity of the borrower. Doubtful: Loans classified as doubtful have advanced to the point that collection or liquidation in full, on the basis of currently ascertainable facts, conditions and value, is highly questionable or improbable. (Dollar amounts in thousands) Special Not Rated Pass Mention Substandard Doubtful Total June 30, 2015: Residential first mortgages $ 121,574 $ - $ - $ 1,013 $ - $ 122,587 Home equity and lines of credit 89,091 - - 588 - 89,679 Commercial real estate - 105,968 97 6,022 - 112,087 Commercial business - 68,528 317 1,818 - 70,663 Consumer 6,997 - - - - 6,997 Total $ 217,662 $ 174,496 $ 414 $ 9,441 $ - $ 402,013 December 31, 2014: Residential first mortgages $ 106,448 $ - $ - $ 725 $ - $ 107,173 Home equity and lines of credit 88,699 - - 407 - 89,106 Commercial real estate - 103,908 515 6,387 - 110,810 Commercial business - 65,627 1,292 3,266 - 70,185 Consumer 7,598 - - - - 7,598 Total $ 202,745 $ 169,535 $ 1,807 $ 10,785 $ - $ 384,872 Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. (Dollar amounts in thousands) Performing Nonperforming Accruing Accruing Accruing Accruing Loans Not 30-59 Days 60-89 Days 90 Days + Total Past Due Past Due Past Due Past Due Nonaccrual Loans June 30, 2015: Residential first mortgages $ 120,634 $ 566 $ 374 $ - $ 1,013 $ 122,587 Home equity and lines of credit 88,904 187 - 12 576 89,679 Commercial real estate 108,945 234 - - 2,908 112,087 Commercial business 69,504 - 213 - 946 70,663 Consumer 6,941 56 - - - 6,997 Total loans $ 394,928 $ 1,043 $ 587 $ 12 $ 5,443 $ 402,013 December 31, 2014: Residential first mortgages $ 104,523 $ 1,523 $ 402 $ 78 $ 647 $ 107,173 Home equity and lines of credit 87,982 675 42 - 407 89,106 Commercial real estate 107,292 30 55 16 3,417 110,810 Commercial business 67,808 - - - 2,377 70,185 Consumer 7,545 41 12 - - 7,598 Total loans $ 375,150 $ 2,269 $ 511 $ 94 $ 6,848 $ 384,872 (Dollar amounts in thousands) Not 30-59 Days 60-89 Days 90 Days + Total Past Due Past Due Past Due Past Due Loans June 30, 2015: Residential first mortgages $ 77 $ 79 $ 90 $ 767 $ 1,013 Home equity and lines of credit - 16 - 560 576 Commercial real estate 2,723 56 - 129 2,908 Commercial business 922 - - 24 946 Consumer - - - - - Total loans $ 3,722 $ 151 $ 90 $ 1,480 $ 5,443 December 31, 2014: Residential first mortgages $ 283 $ - $ 80 $ 284 $ 647 Home equity and lines of credit 33 18 - 356 407 Commercial real estate 2,848 - - 569 3,417 Commercial business 2,151 - 188 38 2,377 Consumer - - - - - Total loans $ 5,315 $ 18 $ 268 $ 1,247 $ 6,848 An allowance for loan losses (ALL) is maintained to absorb probable incurred losses from the loan portfolio. The ALL is based on management’s continuing evaluation of the risk characteristics and credit quality of the loan portfolio, assessment of current economic conditions, diversification and size of the portfolio, adequacy of collateral, past and anticipated loss experience and the amount of nonperforming loans. Management reviews the loan portfolio on a quarterly basis using a defined, consistently applied process in order to make appropriate and timely adjustments to the ALL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALL. (Dollar amounts in thousands) Home Equity Residential & Lines Commercial Commercial Mortgages of Credit Real Estate Business Consumer Total Three months ended June 30, 2015: Allowance for loan losses: Beginning Balance $ 1,088 $ 611 $ 2,233 $ 1,360 $ 48 $ 5,340 Charge-offs - (22) - (182) (6) (210) Recoveries - 25 6 - 6 37 Provision 170 8 (78) 104 (1) 203 Ending Balance $ 1,258 $ 622 $ 2,161 $ 1,282 $ 47 $ 5,370 Six months ended June 30, 2015: Allowance for loan losses: Beginning Balance $ 955 $ 543 $ 2,338 $ 1,336 $ 52 $ 5,224 Charge-offs (4) (85) - (182) (29) (300) Recoveries - 30 12 20 13 75 Provision 307 134 (189) 108 11 371 Ending Balance $ 1,258 $ 622 $ 2,161 $ 1,282 $ 47 $ 5,370 June 30, 2015: Ending ALL balance attributable to loans: Individually evaluated for impairment 27 - 216 342 - 585 Collectively evaluated for impairment 1,231 622 1,945 940 47 4,785 Total loans: Individually evaluated for impairment 169 - 3,003 1,232 - 4,404 Collectively evaluated for impairment 122,418 89,679 109,084 69,431 6,997 397,609 At December 31, 2014: Ending ALL balance attributable to loans: Individually evaluated for impairment 27 - 268 495 - 790 Collectively evaluated for impairment 928 543 2,070 841 52 4,434 Total loans: Individually evaluated for impairment 285 - 3,529 2,673 - 6,487 Collectively evaluated for impairment 106,888 89,106 107,281 67,512 7,598 378,385 Three months ended June 30, 2014: Allowance for loan losses: Beginning Balance $ 936 $ 619 $ 2,221 $ 1,094 $ 51 $ 4,921 Charge-offs (19) (14) - - (33) (66) Recoveries - - 4 - 4 8 Provision - (137) 150 139 31 183 Ending Balance $ 917 $ 468 $ 2,375 $ 1,233 $ 53 $ 5,046 Six months ended June 30, 2014: Allowance for loan losses: Beginning Balance $ 923 $ 625 $ 2,450 $ 822 $ 49 $ 4,869 Charge-offs (97) (14) (2) (17) (67) (197) Recoveries - - 9 7 13 29 Provision 91 (143) (82) 421 58 345 Ending Balance $ 917 $ 468 $ 2,375 $ 1,233 $ 53 $ 5,046 The allowance for loan losses is based on estimates and actual losses may vary from current estimates. Management believes that the granularity of the homogeneous pools and the related historical loss ratios and other qualitative factors, as well as the consistency in the application of assumptions, result in an ALL that is representative of the risk found in the components of the portfolio at any given date. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | 7. Goodwill and Intangible Assets (Dollar amounts in thousands) June 30, 2015 December 31, 2014 Gross Carrying Accumulated Gross Carrying Accumulated Amount Amortization Amount Amortization Goodwill $ 3,664 $ - $ 3,664 $ - Core deposit intangibles 4,027 3,375 4,027 3,278 Total $ 7,691 $ 3,375 $ 7,691 $ 3,278 Goodwill resulted from three previous branch acquisitions. Goodwill represents the excess of the total purchase price paid for the branch acquisitions over the fair value of the assets acquired, net of the fair value of the liabilities assumed. Goodwill is not amortized but is evaluated for impairment on an annual basis or whenever events or changes in circumstances indicate the carrying value may not be recoverable. Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. The Corporation has selected November 30 as the date to perform the annual impairment test. No goodwill impairment charges were recorded during 2014 or in the first six months of 2015. The core deposit intangible asset is amortized using the double declining balance method over a weighted average estimated life of nine years and is not estimated to have a significant residual value. During the three and six month periods ending June 30, 2015, the Corporation recorded intangible amortization expense totaling $ 49,000 98,000 57,000 113,000 |
Stock Compensation Plans
Stock Compensation Plans | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 8. Stock Compensation Plans In April 2014, the Corporation adopted the 2014 Stock Incentive Plan (the 2014 Plan), which is shareholder approved and permits the grant of restricted stock awards and options to its directors, officers and employees for up to 176,866 83,433 88,433 In addition, the Corporation’s 2007 Stock Incentive Plan and Trust (the 2007 Plan), which is shareholder approved, permits the grant of restricted stock awards and options to its directors, officers and employees for up to 177,496 1,663 45,283 Incentive stock options, non-incentive or compensatory stock options and share awards may be granted under the Plans. The exercise price of each option shall at least equal the market price of a share of common stock on the date of grant and have a contractual term of ten years. Options shall vest and become exercisable at the rate, to the extent and subject to such limitations as may be specified by the Corporation. Compensation cost related to share-based payment transactions must be recognized in the financial statements with measurement based upon the fair value of the equity instruments issued. Aggregate Weighted-Average Weighted-Average Intrinsic Value Remaining Term Options Exercise Price (in thousands) (in years) Outstanding as of January 1, 2015 76,750 $ 25.16 $ - 2.7 Granted - - - - Exercised (250) 15.06 - - Forfeited - - - - Outstanding as of June 30, 2015 76,500 $ 25.19 $ 42,165 2.2 Exercisable as of June 30, 2015 76,500 $ 25.19 $ 42,165 2.2 Weighted-Average Shares Grant-date Fair Value Nonvested at January 1, 2015 25,450 $ 23.03 Granted - - Vested (2,950) 20.03 Forfeited - - Nonvested as of June 30, 2015 22,500 $ 23.43 For the three and six month periods ended June 30, 2015, the Corporation recognized $ 55,000 108,000 42,000 84,000 270,000 1.5 |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | 9. Fair Value Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair value. Level 1 : Quoted prices (unadjusted) for identical assets or liabilities in active markets that the Corporation has the ability to access at the measurement date. 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 the Corporation’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. An asset or liability’s level is based on the lowest level of input that is significant to the fair value measurement. The Corporation used the following methods and significant assumptions to estimate fair value: Cash and cash equivalents – The carrying value of cash and due from banks and interest earning deposits with banks approximates fair value and are classified as Level 1. Securities available for sale – The fair value of all investment securities are based upon the assumptions market participants would use in pricing the security. If available, investment securities are determined by quoted market prices (Level 1). Level 1 includes U.S. Treasury, federal agency securities and certain equity securities. For investment securities where quoted market prices are not available, fair values are calculated based on market prices on similar securities (Level 2). Level 2 includes U.S. Government sponsored entities and agencies, mortgage-backed securities, collateralized mortgage obligations, state and political subdivision securities and corporate debt securities. For investment securities where quoted prices or market prices of similar securities are not available, fair values are calculated by using unobservable inputs (Level 3) and may include certain equity securities held by the Corporation. The Level 3 equity security valuations were supported by an analysis prepared by the Corporation which relies on inputs such as the security issuer’s publicly attainable financial information, multiples derived from prices in observed transactions involving comparable businesses and other market, financial and nonfinancial factors. Loans – The fair value of loans receivable was estimated based on the discounted value of the future cash flows using the current rates being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. 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 a specific allowance for loan losses. For collateral dependent loans, fair value is commonly based on 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 classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. As of June 30, 2015, the fair value of impaired loans measured using the fair value of collateral consisted of loan balances of $ 1.5 408 3.0 596 235,000 393,000 665,000 Other real estate owned (OREO) – Assets acquired through or instead of 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. Management’s ongoing review of appraisal information may result in additional discounts or adjustments to the valuation based upon more recent market sales activity or more current appraisal information derived from properties of similar type and/or locale. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. As of June 30, 2015, OREO measured at fair value less costs to sell had a net carrying amount of $ 20,000 23,000 3,000 0 3,000 0 Appraisals for both collateral-dependent impaired loans and OREO are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed by the Corporation. Once received, management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On an annual basis, the Corporation compares the actual selling price of OREO that has been sold to the most recent appraisal to determine what additional adjustment should be made to the appraisal value to arrive at fair value. The most recent analysis performed indicated that a discount of 10 Federal bank stock – It is not practical to determine the fair value of federal bank stocks due to restrictions placed on its transferability. Deposits – The fair value of deposits with no stated maturity, such as non-interest bearing demand deposits, checking with interest, savings and money market accounts, is equal to the amount payable on demand resulting in either a Level 1 or Level 2 classification. The fair values of time deposits are based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar maturities resulting in a Level 2 classification. Borrowings – The fair value of borrowings with the FHLB is estimated using discounted cash flows based on current incremental borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. Accrued interest receivable and payable – The carrying value of accrued interest receivable and payable approximates fair value. The fair value classification is consistent with the related financial instrument. (Dollar amounts in thousands) (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable Unobservable Description Total Assets Inputs Inputs June 30, 2015: U.S. Treasury and federal agency $ 1,468 $ 1,468 $ - $ - U.S. government sponsored entities and agencies 36,430 - 36,430 - U.S. agency mortgage-backed securities: residential 34,448 - 34,448 - U.S. agency collateralized mortgage obligations: residential 34,097 - 34,097 - State and political subdivision 33,611 - 33,611 - Corporate debt securities 4,002 - 4,002 - Equity securities 2,659 1,824 - 835 $ 146,715 $ 3,292 $ 142,588 $ 835 December 31, 2014: U.S. Treasury and federal agency $ 1,456 $ 1,456 $ - $ - U.S. government sponsored entities and agencies 35,224 - 35,224 - U.S. agency mortgage-backed securities: residential 38,771 - 38,771 - U.S. agency collateralized mortgage obligations: residential 36,617 - 36,617 - State and political subdivisions 33,024 - 33,024 - Corporate debt securities 1,998 - 1,998 - Equity securities 2,771 1,873 - 898 $ 149,861 $ 3,329 $ 145,634 $ 898 The Corporation’s policy is to transfer assets or liabilities from one level to another when the methodology to obtain the fair value changes such that there are more or fewer unobservable inputs as of the end of the reporting period. During the three and six month periods ended June 30, 2015 and 2014, the Corporation had no transfers between levels. (Dollar amounts in thousands) Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Balance at the beginning of the period $ 828 $ 653 $ 898 $ 653 Total gains or losses (realized/unrealized): - - - - Included in earnings - - - - Included in other comprehensive income 7 - (63) - Issuances - - - - Transfers in and/or out of Level 3 - - - - Balance at the end of the period $ 835 $ 653 $ 835 $ 653 (Dollar amounts in thousands) (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable Unobservable Description Total Assets Inputs Inputs June 30, 2015: Impaired commercial real estate loans $ 571 $ - $ - $ 571 Impaired commercial business loans 563 - - 563 Other residential real estate owned 20 - - 20 $ 1,154 $ - $ - $ 1,154 December 31, 2014: Impaired commercial real estate loans $ 495 $ - $ - $ 495 Impaired commercial business loans 1,865 - - 1,865 $ 2,360 $ - $ - $ 2,360 (Dollar amounts in thousands) Valuation Unobservable Techniques(s) Input (s) Range June 30, 2015: Impaired commercial real estate loans $ 571 Sales comparison approach Adjustment for differences 10% - 30% Impaired commercial business loans 563 Liquidation value of business assets Adjustment for differences 71% - 83% Other residential real estate owned 20 Sales comparison approach Adjustment for differences 10% December 31, 2014: Impaired commercial real estate loans 495 Sales comparison approach/ Adjustment for differences 10% Impaired commercial business loans 1,865 Liquidation value of business assets Adjustment for differences 44% - 78% The two tables above exclude two impaired residential mortgage loans totaling $ 142,000 1.8 255,000 (Dollar amounts in thousands) Carrying Fair Value Measurements using: Description Amount Total Level 1 Level 2 Level 3 June 30, 2015: Financial Assets: Cash and cash equivalents $ 11,909 $ 11,909 $ 11,909 $ - $ - Securities available for sale 146,715 146,715 3,292 142,588 835 Loans, net 396,643 403,326 - - 403,326 Federal bank stock 2,512 N/A N/A N/A N/A Accrued interest receivable 1,548 1,548 28 443 1,077 559,327 563,498 15,229 143,031 405,238 Financial Liabilities: Deposits 512,412 514,842 395,284 119,558 - Borrowed funds 22,500 22,087 - 22,087 - Accrued interest payable 187 187 6 181 - 535,099 537,116 395,290 141,826 - Carrying Fair Value Measurements using: Amount Total Level 1 Level 2 Level 3 December 31, 2014: Financial Assets: Cash and cash equivalents $ 11,856 $ 11,856 $ 11,856 $ - $ - Securities available for sale 149,861 149,861 3,329 145,634 898 Loans, net 379,648 385,264 - - 385,264 Federal bank stock 2,406 N/A N/A N/A N/A Accrued interest receivable 1,543 1,543 30 434 1,079 545,314 548,524 15,215 146,068 387,241 Financial Liabilities: Deposits 501,819 504,230 380,685 123,545 - Borrowed funds 21,500 22,338 - 22,338 - Accrued interest payable 199 199 32 167 - 523,518 526,767 380,717 146,050 - |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Other Comprehensive Income, Noncontrolling Interest [Text Block] | 10. Accumulated Other Comprehensive Income (Loss) (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Income (Loss) at April 1, 2015 $ 883 $ (3,196) $ (2,313) Other comprehensive income before reclassification (829) - (829) Amounts reclassified from accumulated other comprehensive income (loss) (22) - (22) Net current period other comprehensive income (851) - (851) Accumulated Other Comprehensive Income (Loss) at June 30, 2015 $ 32 $ (3,196) $ (3,164) (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the three months Statement Where Net Comprehensive Income Components ended June 30, 2015 Income is Presented Unrealized gains and losses on available-for-sale securities $ 34 Net gain on sale of available-for-sale securities (12) Provision for income taxes Total reclassifications for the period $ 22 Net of tax (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Loss at April 1, 2014 $ (1,492) $ (1,410) $ (2,902) Other comprehensive income before reclassification 1,006 - 1,006 Amounts reclassified from accumulated other comprehensive income - - - Net current period other comprehensive income 1,006 - 1,006 Accumulated Other Comprehensive Loss at June 30, 2014 $ (486) $ (1,410) $ (1,896) (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the three months Statement Where Net Comprehensive Loss Components ended June 30, 2014 Income is Presented Unrealized gains and losses on available-for-sale securities $ - Net gain on sale of available-for-sale securities - Provision for income taxes Total reclassifications for the period $ - Net of tax (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Loss at January 1, 2015 $ 198 $ (3,196) $ (2,998) Other comprehensive income before reclassification (144) - (144) Amounts reclassified from accumulated other comprehensive income (22) - (22) Net current period other comprehensive income (166) - (166) Accumulated Other Comprehensive Loss at June 30, 2015 $ 32 $ (3,196) $ (3,164) (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the six months Statement Where Net Comprehensive Income Components ended June 30, 2015 Income is Presented Unrealized gains and losses on available-for-sale securities $ 34 Net gain on sale of available-for-sale securities (12) Provision for income taxes Total reclassifications for the period $ 22 Net of tax (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Income at January 1, 2014 $ (1,870) $ (1,410) $ (3,280) Other comprehensive income before reclassification 1,818 - 1,818 Amounts reclassified from accumulated other comprehensive income (434) - (434) Net current period other comprehensive income 1,384 - 1,384 Accumulated Other Comprehensive Loss at June 30, 2014 $ (486) $ (1,410) $ (1,896) (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the six months Statement Where Net Comprehensive Income Components ended June 30, 2014 Income is Presented Unrealized gains and losses on available-for-sale securities $ 658 Net gain on sale of available-for-sale securities (224) Provision for income taxes Total reclassifications for the period $ 434 Net of tax |
New Accounting Standards
New Accounting Standards | 6 Months Ended |
Jun. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 11. New Accounting Standards In January 2014, the Financial Accounting Standards Board (FASB) issued new accounting guidance regarding the reclassification of residential real estate collateralized consumer mortgage loans upon foreclosures. The guidance requires reclassification of a consumer mortgage loan to other real estate owned upon obtaining legal title to the residential property, which could occur either through foreclosure or through a deed in lieu of foreclosure or similar legal agreement. The existence of a borrower redemption right will not prevent the lender from reclassifying a loan to other real estate once the lender obtains legal title to the property. In addition, entities are required to disclose the amount of foreclosed real estate properties and the recorded investment in residential real estate mortgage loans in the process of foreclosure on both an interim and annual basis. The guidance may be applied prospectively or on a modified prospective basis in fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014. Early adoption was permitted. The adoption of this guidance did not have a material impact on the Corporation’s consolidated financial statements. In May 2014, the FASB and the International Accounting Standards Board (IASB) jointly issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under U.S. GAAP and International Financial Reporting Standards (IFRS). The standard’s core principle is that an entity will recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The guidance may be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initial application recognized at the date of initial application for the fiscal years and interim periods within those fiscal years beginning after December 15, 2017. Entities are permitted to adopt one year earlier if they choose. The Corporation is currently evaluating the impact of the adoption of this guidance on its financial statements. In June 2014, the FASB issued new accounting guidance regarding share-based grants that require a performance target that affects vesting and that could be achieved after the requisite service period to be treated as a performance condition. An entity should apply existing guidance that relates to awards with performance conditions that affect vesting to account for such awards. The guidance may be applied prospectively or retrospectively and is effective for fiscal years and interim periods within those years beginning after December 15, 2015. Early adoption is permitted. This guidance will not have a material impact upon adoption as the Corporation has no share-based grants with performance targets that could be achieved after the requisite service period. In August 2014, the FASB issued new accounting guidance regarding the classification and measurement of foreclosed mortgage loans that are guaranteed by the government (including loans guaranteed by the FHA and the VA). The guidance addressed diversity in practice by requiring creditors to derecognize the mortgage loan upon foreclosure and to recognize a separate other receivable if the following conditions are net: (a) the government guarantee of the loan is not separate from the loan before foreclosure; (b) upon foreclosure, the creditor has the intent to convey the real estate to the guarantor and to make a claim on the guarantee, and also has the ability to make a recovery under the claim; and (c) claim amounts based on the fair value of the property are fixed upon foreclosure. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The guidance may be applied prospectively or on a modified retrospective basis in fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014. The transition method applied should be the same as the transition method applied upon implementation of the new accounting guidance issued in January 2014, described above, regarding the reclassification of residential real estate collateralized consumer mortgage loans upon foreclosure. Early adoption was permitted. The adoption of this guidance did not have a material impact on the Corporation’s consolidated financial statements. |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The factors used in the Corporation’s earnings per common share computation follow: (Dollar amounts in thousands, except for per share amounts) For the three months ended For the six months ended June 30, June 30, 2015 2014 2015 2014 Earnings per common share - basic Net income $ 927 $ 878 $ 1,708 $ 1,720 Less: Preferred stock dividends 25 25 50 50 Net income available to common stockholders $ 902 $ 853 $ 1,658 $ 1,670 Average common shares outstanding 1,864,298 1,770,158 1,823,086 1,769,775 Basic earnings per common share $ 0.48 $ 0.48 $ 0.91 $ 0.94 Earnings per common share - diluted Net income available to common stockholders $ 902 $ 853 $ 1,658 $ 1,670 Average common shares outstanding 1,864,298 1,770,158 1,823,086 1,769,775 Add: Dilutive effects of assumed issuance of restricted stock and exercise of stock options 11,962 14,691 11,301 13,893 Average shares and dilutive potential common shares 1,876,260 1,784,849 1,834,387 1,783,668 Diluted earnings per common share $ 0.48 $ 0.48 $ 0.90 $ 0.94 Stock options not considered in computing earnings per share because they were antidilutive 67,000 67,000 67,000 67,000 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule Of Classification Of Available For Sale Securities Investment [Table Text Block] | The following table summarizes the Corporation’s securities as of June 30, 2015 and December 31, 2014: (Dollar amounts in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available for sale: June 30, 2015: U.S. Treasury and federal agency $ 1,492 $ - $ (24) $ 1,468 U.S. government sponsored entities and agencies 36,458 41 (69) 36,430 U.S. agency mortgage-backed securities: residential 34,001 447 - 34,448 U.S. agency collateralized mortgage obligations: residential 34,955 19 (877) 34,097 State and political subdivisions 33,395 477 (261) 33,611 Corporate debt securities 4,010 1 (9) 4,002 Equity securities 2,356 360 (57) 2,659 $ 146,667 $ 1,345 $ (1,297) $ 146,715 December 31, 2014: U.S. Treasury and federal agency $ 1,491 $ - $ (35) $ 1,456 U.S. government sponsored entities and agencies 35,452 10 (238) 35,224 U.S. agency mortgage-backed securities: residential 38,026 745 - 38,771 U.S. agency collateralized mortgage obligations: residential 37,564 16 (963) 36,617 State and political subdivisions 32,665 550 (191) 33,024 Corporate debt securities 2,006 - (8) 1,998 Equity securities 2,356 415 - 2,771 $ 149,560 $ 1,736 $ (1,435) $ 149,861 |
Schedule Of Contractual Maturities Of Available For Sale Securities Debt Maturities [Table Text Block] | Mortgage-backed securities and collateralized mortgage obligations are not due at a single maturity and are shown separately. (Dollar amounts in thousands) Available for sale Amortized Fair Cost Value Due in one year or less $ - $ - Due after one year through five years 50,470 50,585 Due after five through ten years 22,894 22,975 Due after ten years 1,990 1,951 Mortgage-backed securities: residential 34,001 34,448 Collateralized mortgage obligations: residential 34,955 34,097 $ 144,310 $ 144,056 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Information pertaining to securities with gross unrealized losses at June 30, 2015 and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position are included in the table below: (Dollar amounts in thousands) Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Loss Value Loss Value Loss June 30, 2015: U.S. Treasury and federal agency $ - $ - $ 1,468 $ (24) $ 1,468 $ (24) U.S. government sponsored entities and agencies 13,826 (23) 9,951 (46) 23,777 (69) U.S. agency collateralized mortgage obligations: residential 4,821 (35) 27,459 (842) 32,280 (877) State and political subdivisions 11,277 (146) 3,726 (115) 15,003 (261) Corporate debt securities 3,002 (8) 500 (1) 3,502 (9) Equity securities 893 (57) - - 893 (57) $ 33,819 $ (269) $ 43,104 $ (1,028) $ 76,923 $ (1,297) December 31, 2014: U.S. Treasury and federal agency $ - $ - $ 1,456 $ (35) $ 1,456 $ (35) U.S. government sponsored entities and agencies 11,412 (51) 16,805 (187) 28,217 (238) U.S. agency collateralized mortgage obligations: residential 2,715 (14) 30,594 (949) 33,309 (963) State and political subdivisions 5,154 (22) 10,221 (169) 15,375 (191) Corporate debt securities 1,998 (8) - - 1,998 (8) $ 21,279 $ (95) $ 59,076 $ (1,340) $ 80,355 $ (1,435) |
Available-for-sale Securities [Table Text Block] | Gains on sales of available for sale securities for the three and six months ended June 30 were as follows: (Dollar amounts in thousands) For the three months For the six months ended June 30, ended June 30, 2015 2014 2015 2014 Proceeds $ 1,791 $ - $ 1,791 $ 21,559 Gains 34 - 34 658 Tax provision related to gains 12 - 12 224 |
Loans Receivable and Related 22
Loans Receivable and Related Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Loans Notes Trade and Other Receivables Disclosure [Abstract] | |
Schedule Of Classification Of Loans Receivable [Table Text Block] | The Corporation’s loans receivable as of the respective dates are summarized as follows: (Dollar amounts in thousands) June 30, December 31, 2015 2014 Mortgage loans on real estate: Residential first mortgages $ 122,587 $ 107,173 Home equity loans and lines of credit 89,679 89,106 Commercial real estate 112,087 110,810 324,353 307,089 Other loans: Commercial business 70,663 70,185 Consumer 6,997 7,598 77,660 77,783 Total loans, gross 402,013 384,872 Less allowance for loan losses 5,370 5,224 Total loans, net $ 396,643 $ 379,648 |
Schedule Of Impaired Loans Receivable, Additional Information [Table Text Block] | The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of June 30, 2015: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months As of June 30, 2015 ended June 30, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Related Recorded Recognized Recognized Balance Investment Allowance Investment in Period in Period Residential first mortgages $ 169 $ 169 $ 27 $ 170 $ 2 $ 2 Home equity and lines of credit - - - - - - Commercial real estate 3,538 2,597 216 2,603 49 41 Commercial business 1,159 1,159 342 1,859 118 106 Consumer - - - - - - Total $ 4,866 $ 3,925 $ 585 $ 4,632 $ 169 $ 149 For the six months ended June 30, 2015 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 170 $ 4 $ 4 Home equity and lines of credit - - - Commercial real estate 2,627 49 41 Commercial business 2,113 118 106 Consumer - - - Total $ 4,910 $ 171 $ 151 Impaired Loans with No Specific Allowance For the three months As of June 30, 2015 ended June 30, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ - $ - $ 55 $ 7 $ 7 Home equity and lines of credit - - - - - Commercial real estate 805 406 608 1 1 Commercial business 73 73 62 - - Consumer - - - - - Total $ 878 $ 479 $ 725 $ 8 $ 8 For the six months ended June 30, 2015 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 75 $ 7 $ 7 Home equity and lines of credit - - - Commercial real estate 690 6 6 Commercial business 58 2 2 Consumer - - - Total $ 823 $ 15 $ 15 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of December 31, 2014: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the year ended As of December 31, 2014 December 31, 2014 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Related Recorded Recognized Recognized Balance Investment Allowance Investment in Period in Period Residential first mortgages $ 171 $ 171 $ 27 $ 136 $ 12 $ 12 Home equity and lines of credit - - - - - - Commercial real estate 3,615 2,674 268 2,673 16 - Commercial business 2,622 2,622 495 1,524 66 - Consumer - - - - - - Total $ 6,408 $ 5,467 $ 790 $ 4,333 $ 94 $ 12 Impaired Loans with No Specific Allowance For the year ended As of December 31, 2014 December 31, 2014 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ 114 $ 114 $ 74 $ 2 $ - Home equity and lines of credit - - - - - Commercial real estate 1,254 855 839 15 4 Commercial business 51 51 250 1 1 Consumer - - 1,078 533 533 Total $ 1,419 $ 1,020 $ 2,241 $ 551 $ 538 The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of June 30, 2014: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months As of June 30, 2014 ended June 30, 2014 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Related Recorded Recognized Recognized Balance Investment Allowance Investment in Period in Period Residential first mortgages $ 172 $ 172 $ 28 $ 127 $ 8 $ 2 Home equity and lines of credit - - - - - - Commercial real estate 3,649 2,708 227 2,715 10 10 Commercial business 2,210 2,210 540 1,314 51 4 Consumer - - - - - - Total $ 6,031 $ 5,090 $ 795 $ 4,156 $ 69 $ 16 For the six months ended June 30, 2014 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 112 $ 9 $ 3 Home equity and lines of credit - - - Commercial real estate 2,650 17 12 Commercial business 876 56 4 Consumer - - - Total $ 3,638 $ 82 $ 19 Impaired Loans with No Specific Allowance For the three months As of June 30, 2014 ended June 30, 2014 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ 118 $ 118 $ 59 $ 2 $ - Home equity and lines of credit - - - - - Commercial real estate 1,488 1,089 896 12 1 Commercial business 430 428 407 1 1 Consumer 1,348 1,348 1,348 - - Total $ 3,384 $ 2,983 $ 2,710 $ 15 $ 2 For the six months ended June 30, 2014 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 46 $ 2 $ - Home equity and lines of credit - - - Commercial real estate 823 14 3 Commercial business 383 1 1 Consumer 1,348 - - Total $ 2,600 $ 17 $ 4 |
Financing Receivable Credit Quality Indicators [Table Text Block] | The following table presents the classes of the loan portfolio summarized by the aggregate pass and the criticized categories of special mention, substandard and doubtful within the Corporation’s internal risk rating system as of June 30, 2015 and December 31, 2014: (Dollar amounts in thousands) Special Not Rated Pass Mention Substandard Doubtful Total June 30, 2015: Residential first mortgages $ 121,574 $ - $ - $ 1,013 $ - $ 122,587 Home equity and lines of credit 89,091 - - 588 - 89,679 Commercial real estate - 105,968 97 6,022 - 112,087 Commercial business - 68,528 317 1,818 - 70,663 Consumer 6,997 - - - - 6,997 Total $ 217,662 $ 174,496 $ 414 $ 9,441 $ - $ 402,013 December 31, 2014: Residential first mortgages $ 106,448 $ - $ - $ 725 $ - $ 107,173 Home equity and lines of credit 88,699 - - 407 - 89,106 Commercial real estate - 103,908 515 6,387 - 110,810 Commercial business - 65,627 1,292 3,266 - 70,185 Consumer 7,598 - - - - 7,598 Total $ 202,745 $ 169,535 $ 1,807 $ 10,785 $ - $ 384,872 |
Past Due Financing Receivables [Table Text Block] | The following table presents the classes of the loan portfolio summarized by the aging categories of performing loans and nonperforming loans as of June 30, 2015 and December 31, 2014: (Dollar amounts in thousands) Performing Nonperforming Accruing Accruing Accruing Accruing Loans Not 30-59 Days 60-89 Days 90 Days + Total Past Due Past Due Past Due Past Due Nonaccrual Loans June 30, 2015: Residential first mortgages $ 120,634 $ 566 $ 374 $ - $ 1,013 $ 122,587 Home equity and lines of credit 88,904 187 - 12 576 89,679 Commercial real estate 108,945 234 - - 2,908 112,087 Commercial business 69,504 - 213 - 946 70,663 Consumer 6,941 56 - - - 6,997 Total loans $ 394,928 $ 1,043 $ 587 $ 12 $ 5,443 $ 402,013 December 31, 2014: Residential first mortgages $ 104,523 $ 1,523 $ 402 $ 78 $ 647 $ 107,173 Home equity and lines of credit 87,982 675 42 - 407 89,106 Commercial real estate 107,292 30 55 16 3,417 110,810 Commercial business 67,808 - - - 2,377 70,185 Consumer 7,545 41 12 - - 7,598 Total loans $ 375,150 $ 2,269 $ 511 $ 94 $ 6,848 $ 384,872 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | The following table presents the Corporation’s nonaccrual loans by aging category as of June 30, 2015 and December 31, 2014: (Dollar amounts in thousands) Not 30-59 Days 60-89 Days 90 Days + Total Past Due Past Due Past Due Past Due Loans June 30, 2015: Residential first mortgages $ 77 $ 79 $ 90 $ 767 $ 1,013 Home equity and lines of credit - 16 - 560 576 Commercial real estate 2,723 56 - 129 2,908 Commercial business 922 - - 24 946 Consumer - - - - - Total loans $ 3,722 $ 151 $ 90 $ 1,480 $ 5,443 December 31, 2014: Residential first mortgages $ 283 $ - $ 80 $ 284 $ 647 Home equity and lines of credit 33 18 - 356 407 Commercial real estate 2,848 - - 569 3,417 Commercial business 2,151 - 188 38 2,377 Consumer - - - - - Total loans $ 5,315 $ 18 $ 268 $ 1,247 $ 6,848 |
Allowance For Credit Losses On Loans Receivables, Additional Information [Table Text Block] | The following table details activity in the ALL and the recorded investment by portfolio segment based on impairment method: (Dollar amounts in thousands) Home Equity Residential & Lines Commercial Commercial Mortgages of Credit Real Estate Business Consumer Total Three months ended June 30, 2015: Allowance for loan losses: Beginning Balance $ 1,088 $ 611 $ 2,233 $ 1,360 $ 48 $ 5,340 Charge-offs - (22) - (182) (6) (210) Recoveries - 25 6 - 6 37 Provision 170 8 (78) 104 (1) 203 Ending Balance $ 1,258 $ 622 $ 2,161 $ 1,282 $ 47 $ 5,370 Six months ended June 30, 2015: Allowance for loan losses: Beginning Balance $ 955 $ 543 $ 2,338 $ 1,336 $ 52 $ 5,224 Charge-offs (4) (85) - (182) (29) (300) Recoveries - 30 12 20 13 75 Provision 307 134 (189) 108 11 371 Ending Balance $ 1,258 $ 622 $ 2,161 $ 1,282 $ 47 $ 5,370 June 30, 2015: Ending ALL balance attributable to loans: Individually evaluated for impairment 27 - 216 342 - 585 Collectively evaluated for impairment 1,231 622 1,945 940 47 4,785 Total loans: Individually evaluated for impairment 169 - 3,003 1,232 - 4,404 Collectively evaluated for impairment 122,418 89,679 109,084 69,431 6,997 397,609 At December 31, 2014: Ending ALL balance attributable to loans: Individually evaluated for impairment 27 - 268 495 - 790 Collectively evaluated for impairment 928 543 2,070 841 52 4,434 Total loans: Individually evaluated for impairment 285 - 3,529 2,673 - 6,487 Collectively evaluated for impairment 106,888 89,106 107,281 67,512 7,598 378,385 Three months ended June 30, 2014: Allowance for loan losses: Beginning Balance $ 936 $ 619 $ 2,221 $ 1,094 $ 51 $ 4,921 Charge-offs (19) (14) - - (33) (66) Recoveries - - 4 - 4 8 Provision - (137) 150 139 31 183 Ending Balance $ 917 $ 468 $ 2,375 $ 1,233 $ 53 $ 5,046 Six months ended June 30, 2014: Allowance for loan losses: Beginning Balance $ 923 $ 625 $ 2,450 $ 822 $ 49 $ 4,869 Charge-offs (97) (14) (2) (17) (67) (197) Recoveries - - 9 7 13 29 Provision 91 (143) (82) 421 58 345 Ending Balance $ 917 $ 468 $ 2,375 $ 1,233 $ 53 $ 5,046 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | The following table summarizes the Corporation’s acquired goodwill and intangible assets as of June 30, 2015 and December 31, 2014: (Dollar amounts in thousands) June 30, 2015 December 31, 2014 Gross Carrying Accumulated Gross Carrying Accumulated Amount Amortization Amount Amortization Goodwill $ 3,664 $ - $ 3,664 $ - Core deposit intangibles 4,027 3,375 4,027 3,278 Total $ 7,691 $ 3,375 $ 7,691 $ 3,278 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | A summary of option activity under the Plans as of June 30, 2015, and changes during the period then ended is presented below: Aggregate Weighted-Average Weighted-Average Intrinsic Value Remaining Term Options Exercise Price (in thousands) (in years) Outstanding as of January 1, 2015 76,750 $ 25.16 $ - 2.7 Granted - - - - Exercised (250) 15.06 - - Forfeited - - - - Outstanding as of June 30, 2015 76,500 $ 25.19 $ 42,165 2.2 Exercisable as of June 30, 2015 76,500 $ 25.19 $ 42,165 2.2 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | A summary of the status of the Corporation’s nonvested restricted stock awards as of June 30, 2015, and changes during the period then ended is presented below: Weighted-Average Shares Grant-date Fair Value Nonvested at January 1, 2015 25,450 $ 23.03 Granted - - Vested (2,950) 20.03 Forfeited - - Nonvested as of June 30, 2015 22,500 $ 23.43 |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | For assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy are as follows: (Dollar amounts in thousands) (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable Unobservable Description Total Assets Inputs Inputs June 30, 2015: U.S. Treasury and federal agency $ 1,468 $ 1,468 $ - $ - U.S. government sponsored entities and agencies 36,430 - 36,430 - U.S. agency mortgage-backed securities: residential 34,448 - 34,448 - U.S. agency collateralized mortgage obligations: residential 34,097 - 34,097 - State and political subdivision 33,611 - 33,611 - Corporate debt securities 4,002 - 4,002 - Equity securities 2,659 1,824 - 835 $ 146,715 $ 3,292 $ 142,588 $ 835 December 31, 2014: U.S. Treasury and federal agency $ 1,456 $ 1,456 $ - $ - U.S. government sponsored entities and agencies 35,224 - 35,224 - U.S. agency mortgage-backed securities: residential 38,771 - 38,771 - U.S. agency collateralized mortgage obligations: residential 36,617 - 36,617 - State and political subdivisions 33,024 - 33,024 - Corporate debt securities 1,998 - 1,998 - Equity securities 2,771 1,873 - 898 $ 149,861 $ 3,329 $ 145,634 $ 898 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following table presents changes in Level 3 assets measured on a recurring basis for the three and six month periods ended June 30, 2015 and 2014: (Dollar amounts in thousands) Three months ended Six months ended June 30, June 30, 2015 2014 2015 2014 Balance at the beginning of the period $ 828 $ 653 $ 898 $ 653 Total gains or losses (realized/unrealized): - - - - Included in earnings - - - - Included in other comprehensive income 7 - (63) - Issuances - - - - Transfers in and/or out of Level 3 - - - - Balance at the end of the period $ 835 $ 653 $ 835 $ 653 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block] | For assets measured at fair value on a non-recurring basis, the fair value measurements by level within the fair value hierarchy are as follows: (Dollar amounts in thousands) (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable Unobservable Description Total Assets Inputs Inputs June 30, 2015: Impaired commercial real estate loans $ 571 $ - $ - $ 571 Impaired commercial business loans 563 - - 563 Other residential real estate owned 20 - - 20 $ 1,154 $ - $ - $ 1,154 December 31, 2014: Impaired commercial real estate loans $ 495 $ - $ - $ 495 Impaired commercial business loans 1,865 - - 1,865 $ 2,360 $ - $ - $ 2,360 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | The following table presents quantitative information about Level 3 fair value measurements for assets measured at fair value on a non-recurring basis: (Dollar amounts in thousands) Valuation Unobservable Techniques(s) Input (s) Range June 30, 2015: Impaired commercial real estate loans $ 571 Sales comparison approach Adjustment for differences 10% - 30% Impaired commercial business loans 563 Liquidation value of business assets Adjustment for differences 71% - 83% Other residential real estate owned 20 Sales comparison approach Adjustment for differences 10% December 31, 2014: Impaired commercial real estate loans 495 Sales comparison approach/ Adjustment for differences 10% Impaired commercial business loans 1,865 Liquidation value of business assets Adjustment for differences 44% - 78% |
Schedule Of Carrying Amount and Fair Values Of Financial Instruments [Table Text Block] | The following table sets forth the carrying amount and estimated fair values of the Corporation’s financial instruments included in the consolidated balance sheet as of June 30, 2015 and December 31, 2014: (Dollar amounts in thousands) Carrying Fair Value Measurements using: Description Amount Total Level 1 Level 2 Level 3 June 30, 2015: Financial Assets: Cash and cash equivalents $ 11,909 $ 11,909 $ 11,909 $ - $ - Securities available for sale 146,715 146,715 3,292 142,588 835 Loans, net 396,643 403,326 - - 403,326 Federal bank stock 2,512 N/A N/A N/A N/A Accrued interest receivable 1,548 1,548 28 443 1,077 559,327 563,498 15,229 143,031 405,238 Financial Liabilities: Deposits 512,412 514,842 395,284 119,558 - Borrowed funds 22,500 22,087 - 22,087 - Accrued interest payable 187 187 6 181 - 535,099 537,116 395,290 141,826 - Carrying Fair Value Measurements using: Amount Total Level 1 Level 2 Level 3 December 31, 2014: Financial Assets: Cash and cash equivalents $ 11,856 $ 11,856 $ 11,856 $ - $ - Securities available for sale 149,861 149,861 3,329 145,634 898 Loans, net 379,648 385,264 - - 385,264 Federal bank stock 2,406 N/A N/A N/A N/A Accrued interest receivable 1,543 1,543 30 434 1,079 545,314 548,524 15,215 146,068 387,241 Financial Liabilities: Deposits 501,819 504,230 380,685 123,545 - Borrowed funds 21,500 22,338 - 22,338 - Accrued interest payable 199 199 32 167 - 523,518 526,767 380,717 146,050 - |
Accumulated Other Comprehensi26
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | The following tables summarize the changes within each classification of accumulated other comprehensive income (loss), net of tax, for the three months ended June 30, 2015 and 2014 and summarizes the significant amounts reclassified out of each component of accumulated other comprehensive income: (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Income (Loss) at April 1, 2015 $ 883 $ (3,196) $ (2,313) Other comprehensive income before reclassification (829) - (829) Amounts reclassified from accumulated other comprehensive income (loss) (22) - (22) Net current period other comprehensive income (851) - (851) Accumulated Other Comprehensive Income (Loss) at June 30, 2015 $ 32 $ (3,196) $ (3,164) (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Loss at April 1, 2014 $ (1,492) $ (1,410) $ (2,902) Other comprehensive income before reclassification 1,006 - 1,006 Amounts reclassified from accumulated other comprehensive income - - - Net current period other comprehensive income 1,006 - 1,006 Accumulated Other Comprehensive Loss at June 30, 2014 $ (486) $ (1,410) $ (1,896) The following tables summarize the changes within each classification of accumulated other comprehensive income (loss), net of tax, for the six months ended June 30, 2015 and 2014 and summarizes the significant amounts reclassified out of each component of accumulated other comprehensive income: (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Loss at January 1, 2015 $ 198 $ (3,196) $ (2,998) Other comprehensive income before reclassification (144) - (144) Amounts reclassified from accumulated other comprehensive income (22) - (22) Net current period other comprehensive income (166) - (166) Accumulated Other Comprehensive Loss at June 30, 2015 $ 32 $ (3,196) $ (3,164) (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Income at January 1, 2014 $ (1,870) $ (1,410) $ (3,280) Other comprehensive income before reclassification 1,818 - 1,818 Amounts reclassified from accumulated other comprehensive income (434) - (434) Net current period other comprehensive income 1,384 - 1,384 Accumulated Other Comprehensive Loss at June 30, 2014 $ (486) $ (1,410) $ (1,896) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the three months Statement Where Net Comprehensive Income Components ended June 30, 2015 Income is Presented Unrealized gains and losses on available-for-sale securities $ 34 Net gain on sale of available-for-sale securities (12) Provision for income taxes Total reclassifications for the period $ 22 Net of tax (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the three months Statement Where Net Comprehensive Loss Components ended June 30, 2014 Income is Presented Unrealized gains and losses on available-for-sale securities $ - Net gain on sale of available-for-sale securities - Provision for income taxes Total reclassifications for the period $ - Net of tax (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the six months Statement Where Net Comprehensive Income Components ended June 30, 2015 Income is Presented Unrealized gains and losses on available-for-sale securities $ 34 Net gain on sale of available-for-sale securities (12) Provision for income taxes Total reclassifications for the period $ 22 Net of tax (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the six months Statement Where Net Comprehensive Income Components ended June 30, 2014 Income is Presented Unrealized gains and losses on available-for-sale securities $ 658 Net gain on sale of available-for-sale securities (224) Provision for income taxes Total reclassifications for the period $ 434 Net of tax |
Issuance of Common Stock (Detai
Issuance of Common Stock (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Stock Issued During Period, Shares, New Issues | 350,000 | 350,000 | |||
Common Stock, Par Or Stated Value Per Share | $ 1.25 | $ 1.25 | $ 1.25 | ||
Stock Issued During Period, Value, New Issues | $ 8,162,000 | $ 0 | $ 8,162,000 | $ 0 | |
Payments of Stock Issuance Costs | $ 63,000 | ||||
Investor [Member] | |||||
Common Stock, Par Or Stated Value Per Share | $ 23.50 | $ 23.50 | |||
Individual [Member] | |||||
Common Stock, Par Or Stated Value Per Share | $ 1.25 | $ 1.25 |
Participation in the Small Bu28
Participation in the Small Business Lending Fund (SBLF) of the U.S. Treasury Department (U.S. Treasury) (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 6 Months Ended | ||
Sep. 17, 2013 | Aug. 18, 2011 | Jun. 30, 2015 | Dec. 31, 2014 | |
Non-Cumulative Perpetual Series B Preferred Stock Issued, Shares Pursuant To U.S. Treasury's Small Business Lending Fund Program (in shares) | 10,000 | |||
Preferred Stock, Dividend Rate, Percentage | 2.00% | |||
Preferred Stock, Redemption Terms | The Corporation may redeem the shares of Series B Preferred Stock, in whole or in part, at any time at a redemption price equal to the sum of the liquidation amount and the per-share amount of any unpaid dividends for the then-current period, subject to any required prior approval by the Corporation’s primary federal banking regulator. If redeemed in part, payments are required to be at least 25% of the original issuance. | |||
Treasury Stock, Shares | 102,017 | 102,017 | ||
Two year from January 1 2014 [Member] | ||||
Preferred Stock, Dividend Rate, Percentage | 2.00% | |||
Maximum [Member] | ||||
Preferred Stock, Dividend Rate, Percentage | 5.00% | |||
Minimum [Member] | ||||
Preferred Stock, Dividend Rate, Percentage | 1.00% | |||
Series B Non Cumulative Preferred Stock [Member] | ||||
Preferred Stock, Dividend Rate, Percentage | 5.00% | |||
Preferred Stock Redemption Shares | 5,000 | |||
Preferred Stock Redemption Percentage | 50.00% | |||
Preferred Stock, Redemption Amount | $ 5,000 | |||
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | |||
Proceeds from Issuance or Sale of Equity, Total | $ 10,000 | |||
Treasury Stock, Shares | 5,000 | |||
Preferred Stock, Liquidation Preference, Value | $ 5,000 | $ 5,000 | $ 5,000 | |
Series B Non Cumulative Preferred Stock [Member] | Four and half years from January 1, 2016 [Member] | ||||
Preferred Stock, Dividend Rate, Percentage | 9.00% |
Earnings Per Common Share (Deta
Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings per common share - basic | ||||
Net income | $ 927 | $ 878 | $ 1,708 | $ 1,720 |
Less: Preferred stock dividends | 25 | 25 | 50 | 50 |
Net income available to common stockholders | $ 902 | $ 853 | $ 1,658 | $ 1,670 |
Average common shares outstanding (in shares) | 1,864,298 | 1,770,158 | 1,823,086 | 1,769,775 |
Basic earnings per common share (in dollars per share) | $ 0.48 | $ 0.48 | $ 0.91 | $ 0.94 |
Earnings per common share - diluted | ||||
Net income available to common stockholders | $ 902 | $ 853 | $ 1,658 | $ 1,670 |
Average common shares outstanding (in shares) | 1,864,298 | 1,770,158 | 1,823,086 | 1,769,775 |
Add: Dilutive effects of assumed issuance of restricted stock and exercise of stock options (in shares) | 11,962 | 14,691 | 11,301 | 13,893 |
Average shares and dilutive potential common shares (in shares) | 1,876,260 | 1,784,849 | 1,834,387 | 1,783,668 |
Diluted earnings per common share (in dollars per share) | $ 0.48 | $ 0.48 | $ 0.90 | $ 0.94 |
Stock options not considered in computing earnings per share because they were antidilutive (in shares) | 67,000 | 67,000 | 67,000 | 67,000 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | $ 146,667 | $ 149,560 |
Gross Unrealized Gains | 1,345 | 1,736 |
Gross Unrealized Losses | (1,297) | (1,435) |
Fair value | 146,715 | 149,861 |
U.S. Treasury and federal agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 1,492 | 1,491 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (24) | (35) |
Fair value | 1,468 | 1,456 |
U.S. government sponsored entities and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 36,458 | 35,452 |
Gross Unrealized Gains | 41 | 10 |
Gross Unrealized Losses | (69) | (238) |
Fair value | 36,430 | 35,224 |
U.S. agency mortgage-backed securities: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 34,001 | 38,026 |
Gross Unrealized Gains | 447 | 745 |
Gross Unrealized Losses | 0 | 0 |
Fair value | 34,448 | 38,771 |
U.S. agency collateralized mortgage obligations: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 34,955 | 37,564 |
Gross Unrealized Gains | 19 | 16 |
Gross Unrealized Losses | (877) | (963) |
Fair value | 34,097 | 36,617 |
State and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 33,395 | 32,665 |
Gross Unrealized Gains | 477 | 550 |
Gross Unrealized Losses | (261) | (191) |
Fair value | 33,611 | 33,024 |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 4,010 | 2,006 |
Gross Unrealized Gains | 1 | 0 |
Gross Unrealized Losses | (9) | (8) |
Fair value | 4,002 | 1,998 |
Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 2,356 | 2,356 |
Gross Unrealized Gains | 360 | 415 |
Gross Unrealized Losses | (57) | 0 |
Fair value | $ 2,659 | $ 2,771 |
Securities (Details 1)
Securities (Details 1) $ in Thousands | Jun. 30, 2015USD ($) |
Schedule of Available-for-sale Securities [Line Items] | |
Due in one year or less, amortized cost | $ 0 |
Due after one year through five years, amortized cost | 50,470 |
Due after five through ten years, amortized cost | 22,894 |
Due after ten years, amortized cost | 1,990 |
Amortized Cost | 144,310 |
Due in one year or less, fair value | 0 |
Due after one year through five years, fair value | 50,585 |
Due after five through ten years, fair value | 22,975 |
Due after ten years, fair value | 1,951 |
Fair value | 144,056 |
U.S. agency mortgage-backed securities: residential [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Amortized Cost | 34,001 |
Fair value | 34,448 |
U.S. agency collateralized mortgage obligations: residential [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Amortized Cost | 34,955 |
Fair value | $ 34,097 |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | $ 33,819 | $ 21,279 |
Unrealized Loss, Less than 12 Months | (269) | (95) |
Fair Value, 12 Months or More | 43,104 | 59,076 |
Unrealized Loss, 12 Months or More | (1,028) | (1,340) |
Fair Value, Total | 76,923 | 80,355 |
Unrealized Loss, Total | (1,297) | (1,435) |
U.S. Treasury and federal agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 0 | 0 |
Unrealized Loss, Less than 12 Months | 0 | 0 |
Fair Value, 12 Months or More | 1,468 | 1,456 |
Unrealized Loss, 12 Months or More | (24) | (35) |
Fair Value, Total | 1,468 | 1,456 |
Unrealized Loss, Total | (24) | (35) |
U.S. government sponsored entities and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 13,826 | 11,412 |
Unrealized Loss, Less than 12 Months | (23) | (51) |
Fair Value, 12 Months or More | 9,951 | 16,805 |
Unrealized Loss, 12 Months or More | (46) | (187) |
Fair Value, Total | 23,777 | 28,217 |
Unrealized Loss, Total | (69) | (238) |
U.S. agency collateralized mortgage obligations: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 4,821 | 2,715 |
Unrealized Loss, Less than 12 Months | (35) | (14) |
Fair Value, 12 Months or More | 27,459 | 30,594 |
Unrealized Loss, 12 Months or More | (842) | (949) |
Fair Value, Total | 32,280 | 33,309 |
Unrealized Loss, Total | (877) | (963) |
State and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 11,277 | 5,154 |
Unrealized Loss, Less than 12 Months | (146) | (22) |
Fair Value, 12 Months or More | 3,726 | 10,221 |
Unrealized Loss, 12 Months or More | (115) | (169) |
Fair Value, Total | 15,003 | 15,375 |
Unrealized Loss, Total | (261) | (191) |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 3,002 | 1,998 |
Unrealized Loss, Less than 12 Months | (8) | (8) |
Fair Value, 12 Months or More | 500 | 0 |
Unrealized Loss, 12 Months or More | (1) | 0 |
Fair Value, Total | 3,502 | 1,998 |
Unrealized Loss, Total | (9) | $ (8) |
Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 893 | |
Unrealized Loss, Less than 12 Months | (57) | |
Fair Value, 12 Months or More | 0 | |
Unrealized Loss, 12 Months or More | 0 | |
Fair Value, Total | 893 | |
Unrealized Loss, Total | $ (57) |
Securities (Details 3)
Securities (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Proceeds | $ 1,791 | $ 0 | $ 1,791 | $ 21,559 |
Gains | 34 | 0 | 34 | 658 |
Tax provision related to gains | $ 12 | $ 0 | $ 12 | $ 224 |
Loans Receivable and Related 34
Loans Receivable and Related Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Mortgage loans on real estate: | ||
Residential first mortgages | $ 122,587 | $ 107,173 |
Home equity loans and lines of credit | 89,679 | 89,106 |
Commercial real estate | 112,087 | 110,810 |
Mortgage Loans on Real Estate | 324,353 | 307,089 |
Other loans: | ||
Commercial business | 70,663 | 70,185 |
Consumer | 6,997 | 7,598 |
Loans Receivable Commercial and Consumer | 77,660 | 77,783 |
Total loans, gross | 402,013 | 384,872 |
Less allowance for loan losses | 5,370 | 5,224 |
Total loans, net | $ 396,643 | $ 379,648 |
Loans Receivable and Related 35
Loans Receivable and Related Allowance for Loan Losses (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | $ 1,154 | $ 1,154 | $ 2,360 | ||
Recorded Investment | 1,500 | 1,500 | 3,000 | ||
Related Allowance | 408 | 408 | 596 | ||
Loans Receivable With Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 4,866 | $ 6,031 | 4,866 | $ 6,031 | 6,408 |
Recorded Investment | 3,925 | 5,090 | 3,925 | 5,090 | 5,467 |
Related Allowance | 585 | 795 | 585 | 795 | 790 |
Average Recorded Investment | 4,632 | 4,156 | 4,910 | 3,638 | 4,333 |
Interest Income Recognized in Period | 169 | 69 | 171 | 82 | 94 |
Cash Basis Interest Recognized in Period | 149 | 16 | 151 | 19 | 12 |
Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 878 | 3,384 | 878 | 3,384 | 1,419 |
Recorded Investment | 479 | 2,983 | 479 | 2,983 | 1,020 |
Average Recorded Investment | 725 | 2,710 | 823 | 2,600 | 2,241 |
Interest Income Recognized in Period | 8 | 15 | 15 | 17 | 551 |
Cash Basis Interest Recognized in Period | 8 | 2 | 15 | 4 | 538 |
Residential First Mortgages [Member] | Loans Receivable With Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 169 | 172 | 169 | 172 | 171 |
Recorded Investment | 169 | 172 | 169 | 172 | 171 |
Related Allowance | 27 | 28 | 27 | 28 | 27 |
Average Recorded Investment | 170 | 127 | 170 | 112 | 136 |
Interest Income Recognized in Period | 2 | 8 | 4 | 9 | 12 |
Cash Basis Interest Recognized in Period | 2 | 2 | 4 | 3 | 12 |
Residential First Mortgages [Member] | Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 0 | 118 | 0 | 118 | 114 |
Recorded Investment | 0 | 118 | 0 | 118 | 114 |
Average Recorded Investment | 55 | 59 | 75 | 46 | 74 |
Interest Income Recognized in Period | 7 | 2 | 7 | 2 | 2 |
Cash Basis Interest Recognized in Period | 7 | 0 | 7 | 0 | 0 |
Home equity and lines of credit [Member] | Loans Receivable With Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 0 | 0 | 0 | 0 | 0 |
Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Related Allowance | 0 | 0 | 0 | 0 | 0 |
Average Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Home equity and lines of credit [Member] | Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 0 | 0 | 0 | 0 | 0 |
Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Average Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Commercial real estate [Member] | Loans Receivable With Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 3,538 | 3,649 | 3,538 | 3,649 | 3,615 |
Recorded Investment | 2,597 | 2,708 | 2,597 | 2,708 | 2,674 |
Related Allowance | 216 | 227 | 216 | 227 | 268 |
Average Recorded Investment | 2,603 | 2,715 | 2,627 | 2,650 | 2,673 |
Interest Income Recognized in Period | 49 | 10 | 49 | 17 | 16 |
Cash Basis Interest Recognized in Period | 41 | 10 | 41 | 12 | 0 |
Commercial real estate [Member] | Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 805 | 1,488 | 805 | 1,488 | 1,254 |
Recorded Investment | 406 | 1,089 | 406 | 1,089 | 855 |
Average Recorded Investment | 608 | 896 | 690 | 823 | 839 |
Interest Income Recognized in Period | 1 | 12 | 6 | 14 | 15 |
Cash Basis Interest Recognized in Period | 1 | 1 | 6 | 3 | 4 |
Commercial business [Member] | Loans Receivable With Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 1,159 | 2,210 | 1,159 | 2,210 | 2,622 |
Recorded Investment | 1,159 | 2,210 | 1,159 | 2,210 | 2,622 |
Related Allowance | 342 | 540 | 342 | 540 | 495 |
Average Recorded Investment | 1,859 | 1,314 | 2,113 | 876 | 1,524 |
Interest Income Recognized in Period | 118 | 51 | 118 | 56 | 66 |
Cash Basis Interest Recognized in Period | 106 | 4 | 106 | 4 | 0 |
Commercial business [Member] | Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 73 | 430 | 73 | 430 | 51 |
Recorded Investment | 73 | 428 | 73 | 428 | 51 |
Average Recorded Investment | 62 | 407 | 58 | 383 | 250 |
Interest Income Recognized in Period | 0 | 1 | 2 | 1 | 1 |
Cash Basis Interest Recognized in Period | 0 | 1 | 2 | 1 | 1 |
Consumer [Member] | Loans Receivable With Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 0 | 0 | 0 | 0 | 0 |
Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Related Allowance | 0 | 0 | 0 | 0 | 0 |
Average Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Consumer [Member] | Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 0 | 1,348 | 0 | 1,348 | 0 |
Recorded Investment | 0 | 1,348 | 0 | 1,348 | 0 |
Average Recorded Investment | 0 | 1,348 | 0 | 1,348 | 1,078 |
Interest Income Recognized in Period | 0 | 0 | 0 | 0 | 533 |
Cash Basis Interest Recognized in Period | $ 0 | $ 0 | $ 0 | $ 0 | $ 533 |
Loans Receivable and Related 36
Loans Receivable and Related Allowance for Loan Losses (Details 2) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 402,013 | $ 384,872 |
Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 217,662 | 202,745 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 174,496 | 169,535 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 414 | 1,807 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 9,441 | 10,785 |
Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Residential first mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 122,587 | 107,173 |
Residential first mortgages [Member] | Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 121,574 | 106,448 |
Residential first mortgages [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Residential first mortgages [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Residential first mortgages [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 1,013 | 725 |
Residential first mortgages [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Home equity and lines of credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 89,679 | 89,106 |
Home equity and lines of credit [Member] | Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 89,091 | 88,699 |
Home equity and lines of credit [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Home equity and lines of credit [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Home equity and lines of credit [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 588 | 407 |
Home equity and lines of credit [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Commercial real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 112,087 | 110,810 |
Commercial real estate [Member] | Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Commercial real estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 105,968 | 103,908 |
Commercial real estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 97 | 515 |
Commercial real estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 6,022 | 6,387 |
Commercial real estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Commercial business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 70,663 | 70,185 |
Commercial business [Member] | Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Commercial business [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 68,528 | 65,627 |
Commercial business [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 317 | 1,292 |
Commercial business [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 1,818 | 3,266 |
Commercial business [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Consumer Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 6,997 | 7,598 |
Consumer Loan [Member] | Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 6,997 | 7,598 |
Consumer Loan [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Consumer Loan [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Consumer Loan [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 0 | 0 |
Consumer Loan [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 0 | $ 0 |
Loans Receivable and Related 37
Loans Receivable and Related Allowance for Loan Losses (Details 3) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | $ 394,928 | $ 375,150 |
Nonperforming, Non Accrual | 5,443 | 6,848 |
Total Loans | 402,013 | 384,872 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 1,043 | 2,269 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 587 | 511 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 12 | 94 |
Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 120,634 | 104,523 |
Nonperforming, Non Accrual | 1,013 | 647 |
Total Loans | 122,587 | 107,173 |
Residential first mortgages [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 566 | 1,523 |
Residential first mortgages [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 374 | 402 |
Residential first mortgages [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 0 | 78 |
Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 88,904 | 87,982 |
Nonperforming, Non Accrual | 576 | 407 |
Total Loans | 89,679 | 89,106 |
Home equity and lines of credit [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 187 | 675 |
Home equity and lines of credit [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 0 | 42 |
Home equity and lines of credit [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 12 | 0 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 108,945 | 107,292 |
Nonperforming, Non Accrual | 2,908 | 3,417 |
Total Loans | 112,087 | 110,810 |
Commercial real estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 234 | 30 |
Commercial real estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 0 | 55 |
Commercial real estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 0 | 16 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 69,504 | 67,808 |
Nonperforming, Non Accrual | 946 | 2,377 |
Total Loans | 70,663 | 70,185 |
Commercial business [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 0 | 0 |
Commercial business [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 213 | 0 |
Commercial business [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 6,941 | 7,545 |
Nonperforming, Non Accrual | 0 | 0 |
Total Loans | 6,997 | 7,598 |
Consumer [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 56 | 41 |
Consumer [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 0 | 12 |
Consumer [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | $ 0 | $ 0 |
Loans Receivable and Related 38
Loans Receivable and Related Allowance for Loan Losses (Details 4) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 5,443 | $ 6,848 |
Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,013 | 647 |
Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 576 | 407 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 2,908 | 3,417 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 946 | 2,377 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 0 |
Not Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 3,722 | 5,315 |
Not Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 77 | 283 |
Not Past Due [Member] | Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 33 |
Not Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 2,723 | 2,848 |
Not Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 922 | 2,151 |
Not Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 0 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 151 | 18 |
30-59 Days Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 79 | 0 |
30-59 Days Past Due [Member] | Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 16 | 18 |
30-59 Days Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 56 | 0 |
30-59 Days Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 0 |
30-59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 0 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 90 | 268 |
60-89 Days Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 90 | 80 |
60-89 Days Past Due [Member] | Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 0 |
60-89 Days Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 0 |
60-89 Days Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 188 |
60-89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 0 |
90 Days + Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,480 | 1,247 |
90 Days + Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 767 | 284 |
90 Days + Past Due [Member] | Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 560 | 356 |
90 Days + Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 129 | 569 |
90 Days + Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 24 | 38 |
90 Days + Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 0 | $ 0 |
Loans Receivable and Related 39
Loans Receivable and Related Allowance for Loan Losses (Details 5) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning Balance | $ 5,340 | $ 4,921 | $ 5,224 | $ 4,869 | |
Charge-offs | (210) | (66) | (300) | (197) | |
Recoveries | 37 | 8 | 75 | 29 | |
Provision | 203 | 183 | 371 | 345 | |
Ending Balance | 5,370 | 5,046 | 5,370 | 5,046 | |
Ending ALL balance attributable to loans: | |||||
Individually evaluated for impairment | 585 | 585 | $ 790 | ||
Collectively evaluated for impairment | 4,785 | 4,785 | 4,434 | ||
Total loans: | |||||
Individually evaluated for impairment | 4,404 | 4,404 | 6,487 | ||
Collectively evaluated for impairment | 397,609 | 397,609 | 378,385 | ||
Residential first mortgages [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning Balance | 1,088 | 936 | 955 | 923 | |
Charge-offs | 0 | (19) | (4) | (97) | |
Recoveries | 0 | 0 | 0 | 0 | |
Provision | 170 | 0 | 307 | 91 | |
Ending Balance | 1,258 | 917 | 1,258 | 917 | |
Ending ALL balance attributable to loans: | |||||
Individually evaluated for impairment | 27 | 27 | 27 | ||
Collectively evaluated for impairment | 1,231 | 1,231 | 928 | ||
Total loans: | |||||
Individually evaluated for impairment | 169 | 169 | 285 | ||
Collectively evaluated for impairment | 122,418 | 122,418 | 106,888 | ||
Home equity and lines of credit [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning Balance | 611 | 619 | 543 | 625 | |
Charge-offs | (22) | (14) | (85) | (14) | |
Recoveries | 25 | 0 | 30 | 0 | |
Provision | 8 | (137) | 134 | (143) | |
Ending Balance | 622 | 468 | 622 | 468 | |
Ending ALL balance attributable to loans: | |||||
Individually evaluated for impairment | 0 | 0 | 0 | ||
Collectively evaluated for impairment | 622 | 622 | 543 | ||
Total loans: | |||||
Individually evaluated for impairment | 0 | 0 | 0 | ||
Collectively evaluated for impairment | 89,679 | 89,679 | 89,106 | ||
Commercial real estate [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning Balance | 2,233 | 2,221 | 2,338 | 2,450 | |
Charge-offs | 0 | 0 | 0 | (2) | |
Recoveries | 6 | 4 | 12 | 9 | |
Provision | (78) | 150 | (189) | (82) | |
Ending Balance | 2,161 | 2,375 | 2,161 | 2,375 | |
Ending ALL balance attributable to loans: | |||||
Individually evaluated for impairment | 216 | 216 | 268 | ||
Collectively evaluated for impairment | 1,945 | 1,945 | 2,070 | ||
Total loans: | |||||
Individually evaluated for impairment | 3,003 | 3,003 | 3,529 | ||
Collectively evaluated for impairment | 109,084 | 109,084 | 107,281 | ||
Commercial business [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning Balance | 1,360 | 1,094 | 1,336 | 822 | |
Charge-offs | (182) | 0 | (182) | (17) | |
Recoveries | 0 | 0 | 20 | 7 | |
Provision | 104 | 139 | 108 | 421 | |
Ending Balance | 1,282 | 1,233 | 1,282 | 1,233 | |
Ending ALL balance attributable to loans: | |||||
Individually evaluated for impairment | 342 | 342 | 495 | ||
Collectively evaluated for impairment | 940 | 940 | 841 | ||
Total loans: | |||||
Individually evaluated for impairment | 1,232 | 1,232 | 2,673 | ||
Collectively evaluated for impairment | 69,431 | 69,431 | 67,512 | ||
Consumer [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning Balance | 48 | 51 | 52 | 49 | |
Charge-offs | (6) | (33) | (29) | (67) | |
Recoveries | 6 | 4 | 13 | 13 | |
Provision | (1) | 31 | 11 | 58 | |
Ending Balance | 47 | $ 53 | 47 | $ 53 | |
Ending ALL balance attributable to loans: | |||||
Individually evaluated for impairment | 0 | 0 | 0 | ||
Collectively evaluated for impairment | 47 | 47 | 52 | ||
Total loans: | |||||
Individually evaluated for impairment | 0 | 0 | 0 | ||
Collectively evaluated for impairment | $ 6,997 | $ 6,997 | $ 7,598 |
Loans Receivable and Related 40
Loans Receivable and Related Allowance for Loan Losses (Details Textual) | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Jun. 30, 2014USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | $ 2,700,000 | $ 5,600,000 | |||
Allowance For Losses Allocated To Loans Classified As Tdrs | 170,000 | $ 513,000 | |||
Financing Receivable Premium on Purchase | 21,000 | $ 15,000 | |||
Financing Receivable Cost of Purchase | 11,000 | ||||
Financing Receivable, Net | 4,000,000 | 4,000,000 | |||
Financing Receivable, Modifications, Number of Contracts | 11 | 11 | |||
Financing Receivable, Modifications, Nature and Extent of Transaction | 6.25% | ||||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 5,000 | ||||
Legal Fees | $ 13,000 | ||||
Contractual Interest Rate Reduction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Modifications, Nature and Extent of Transaction | 5.00% | ||||
Extended Maturity [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Modifications, Nature and Extent of Transaction | 15 year | ||||
Commercial Portfolio Segments [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | $ 2,400,000 | $ 2,400,000 | |||
Four Syndicated National Credits [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Net | 1,000,000 | $ 1,000,000 | |||
Debt Instrument, Periodic Payment, Total | 1,500,000 | ||||
Debt Instrument Pay Off Amount | 1,000,000 | ||||
Long-term Debt, Gross | 6,500,000 | ||||
Residential Mortgage [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Allowance For Losses Allocated To Loans Classified As Tdrs | $ 90,000 | ||||
Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | 8 | 8 | |||
Commercial Real Estate Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | $ 2,100,000 | $ 2,100,000 | |||
Financing Receivable, Modifications, Number of Contracts | 2 | 2 | |||
Residential Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 93,000 | ||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 76,000 |
Goodwill and Intangible Asset41
Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill, Gross Carrying Amount | $ 3,664 | $ 3,664 |
Core deposit intangibles, Goodwill, Gross Carrying Amount | 4,027 | 4,027 |
Goodwill, Gross Carrying Amount, Total | 7,691 | 7,691 |
Goodwill, Accumulated Amortization | 0 | 0 |
Core deposit intangibles, Accumulated Amortization | 3,375 | 3,278 |
Accumulated Amortization, Total | $ 3,375 | $ 3,278 |
Goodwill and Intangible Asset42
Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Intangible asset amortization | $ 49 | $ 57 | $ 98 | $ 113 |
Stock Compensation Plans (Detai
Stock Compensation Plans (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Options - Outstanding, Beginning Balance (in shares) | 76,750 | |
Options - Granted (in shares) | 0 | |
Options - Exercised (in shares) | (250) | |
Options - Forfeited (in shares) | 0 | |
Options - Outstanding, Ending Balance (in shares) | 76,500 | 76,750 |
Options - Exercisable (in shares) | 76,500 | |
Weighted-Average Exercise Price - Outstanding, Beginning Balance (in dollars per share) | $ 25.16 | |
Weighted-Average Exercise Price - Granted (in dollars per share) | 0 | |
Weighted-Average Exercise Price - Exercised (in dollars per share) | 15.06 | |
Weighted-Average Exercise Price - Forfeited (in dollars per share) | 0 | |
Weighted-Average Exercise Price - Outstanding, Ending Balance (in dollars per share) | 25.19 | $ 25.16 |
Weighted-Average Exercise Price - Exercisable (in dollars per share) | $ 25.19 | |
Aggregate Intrinsic Value - Outstanding, Beginning Balance | $ 0 | |
Aggregate Intrinsic Value - Granted | 0 | |
Aggregate Intrinsic Value - Exercised | 0 | |
Aggregate Intrinsic Value - Forfeited | 0 | |
Aggregate Intrinsic Value - Outstanding, Ending Balance | 42,165 | $ 0 |
Aggregate Intrinsic Value - Exercisable | $ 42,165 | |
Weighted-Average Remaining Term - Outstanding (in years) | 2 years 2 months 12 days | 2 years 8 months 12 days |
Weighted-Average Remaining Term - Granted (in years) | ||
Weighted-Average Remaining Term - Exercised (in years) | ||
Weighted-Average Remaining Term - Forfeited (in years) | ||
Weighted-Average Remaining Term - Exercisable (in years) | 2 years 2 months 12 days |
Stock Compensation Plans (Det44
Stock Compensation Plans (Details 1) - 6 months ended Jun. 30, 2015 - Restricted Stock [Member] - $ / shares | Total |
Nonvested, options, Beginning Balance (in shares) | 25,450 |
Granted, options (in shares) | 0 |
Vested, opitons (in shares) | (2,950) |
Forfeited, options (in shares) | 0 |
Nonvested, options, Ending Balance (in shares) | 22,500 |
Nonvested, Weighted-Average Grant-date Fair Value, Beginning Balance (in dollars per share) | $ 23.03 |
Granted, Weighted-Average Grant-date Fair Value (in dollars per share) | 0 |
Vested, Weighted-Average Grant-date Fair Value (in dollars per share) | 20.03 |
Forfeited, Weighted-Average Grant-date Fair Value (in dollars per share) | 0 |
Nonvested, Weighted-Average Grant-date Fair Value, Ending Balance (in dollars per share) | $ 23.43 |
Stock Compensation Plans (Det45
Stock Compensation Plans (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 270,000 | $ 270,000 | ||
Allocated Share-based Compensation Expense | $ 55,000 | $ 42,000 | $ 108,000 | $ 84,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 6 months | |||
2014 Stock Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 176,866 | 176,866 | ||
2014 Stock Incentive Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 83,433 | 83,433 | ||
2014 Stock Incentive Plan [Member] | Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 88,433 | 88,433 | ||
2007 Stock Incentive Plan and Trust [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 177,496 | 177,496 | ||
2007 Stock Incentive Plan and Trust [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,663 | 1,663 | ||
2007 Stock Incentive Plan and Trust [Member] | Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 45,283 | 45,283 |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | $ 146,715 | $ 149,861 |
U.S. Treasury and federal agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 1,468 | 1,456 |
U.S. government sponsored entities and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 36,430 | 35,224 |
U.S. agency mortgage-backed securities: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 34,448 | 38,771 |
U.S. agency collateralized mortgage obligations: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 34,097 | 36,617 |
State and political subdivision [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 33,611 | 33,024 |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 4,002 | 1,998 |
Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 2,659 | 2,771 |
Fair Value, Inputs, Level 1 [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 3,292 | 3,329 |
Fair Value, Inputs, Level 1 [Member] | U.S. Treasury and federal agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 1,468 | 1,456 |
Fair Value, Inputs, Level 1 [Member] | U.S. government sponsored entities and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | U.S. agency mortgage-backed securities: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | U.S. agency collateralized mortgage obligations: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | State and political subdivision [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 1,824 | 1,873 |
Fair Value, Inputs, Level 2 [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 142,588 | 145,634 |
Fair Value, Inputs, Level 2 [Member] | U.S. Treasury and federal agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | U.S. government sponsored entities and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 36,430 | 35,224 |
Fair Value, Inputs, Level 2 [Member] | U.S. agency mortgage-backed securities: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 34,448 | 38,771 |
Fair Value, Inputs, Level 2 [Member] | U.S. agency collateralized mortgage obligations: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 34,097 | 36,617 |
Fair Value, Inputs, Level 2 [Member] | State and political subdivision [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 33,611 | 33,024 |
Fair Value, Inputs, Level 2 [Member] | Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 4,002 | 1,998 |
Fair Value, Inputs, Level 2 [Member] | Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 835 | 898 |
Fair Value, Inputs, Level 3 [Member] | U.S. Treasury and federal agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | U.S. government sponsored entities and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | U.S. agency mortgage-backed securities: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | U.S. agency collateralized mortgage obligations: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | State and political subdivision [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | $ 835 | $ 898 |
Fair Value (Details 1)
Fair Value (Details 1) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Balance at the beginning of the period | $ 828 | $ 653 | $ 898 | $ 653 |
Total gains or losses (realized/unrealized): | ||||
Included in earnings | 0 | 0 | 0 | 0 |
Included in other comprehensive income | 7 | 0 | (63) | 0 |
Issuances | 0 | 0 | 0 | 0 |
Transfers in and/or out of Level 3 | 0 | 0 | 0 | 0 |
Balance at the end of the period | $ 835 | $ 653 | $ 835 | $ 653 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 1,154 | $ 2,360 |
Fair Value, Inputs, Level 1 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 1,154 | 2,360 |
Impaired commercial real estate loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 571 | 495 |
Impaired commercial real estate loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 0 | 0 |
Impaired commercial real estate loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 0 | 0 |
Impaired commercial real estate loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 571 | 495 |
Impaired commercial business loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 563 | 1,865 |
Impaired commercial business loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 0 | 0 |
Impaired commercial business loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 0 | 0 |
Impaired commercial business loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 563 | $ 1,865 |
Other residential real estate owned [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 20 | |
Other residential real estate owned [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 0 | |
Other residential real estate owned [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 0 | |
Other residential real estate owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 20 |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 1,154 | $ 2,360 |
Fair Value, Inputs, Level 3 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 1,154 | 2,360 |
Fair Value, Inputs, Level 3 [Member] | Impaired commercial real estate loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 571 | $ 495 |
Fair Value Measurements, Valuation Techniques | Sales comparison approach | Sales comparison approach/ Contractual provision of USDA loan |
Fair Value Measurements Unobservable Inputs | Adjustment for differences between comparable sales | Adjustment for differences between comparable sales |
Mortgage Loans on Real Estate, Interest Rate | 10.00% | |
Mortgage Loans on Real Estate, Minimum Interest Rate in Range | 10.00% | |
Mortgage Loans on Real Estate, Maximum Interest Rate in Range | 30.00% | |
Fair Value, Inputs, Level 3 [Member] | Impaired commercial business loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 563 | $ 1,865 |
Fair Value Measurements, Valuation Techniques | Liquidation value of business assets | Liquidation value of business assets |
Fair Value Measurements Unobservable Inputs | Adjustment for differences between comparable business assets | Adjustment for differences between comparable business assets |
Mortgage Loans on Real Estate, Minimum Interest Rate in Range | 71.00% | 44.00% |
Mortgage Loans on Real Estate, Maximum Interest Rate in Range | 83.00% | 78.00% |
Fair Value, Inputs, Level 3 [Member] | Other residential real estate owned [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 20 | |
Fair Value Measurements, Valuation Techniques | Sales comparison approach | |
Fair Value Measurements Unobservable Inputs | Adjustment for differences between comparable sales | |
Mortgage Loans on Real Estate, Interest Rate | 10.00% |
Fair Value (Details 4)
Fair Value (Details 4) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Assets | ||||
Cash and cash equivalents - Carrying Amount | $ 11,909 | $ 11,856 | $ 37,494 | $ 16,658 |
Securities available for sale | 146,715 | 149,861 | ||
Loans, net - Carrying Amount | 396,643 | 379,648 | ||
Federal bank stocks - Carrying Amount | 2,512 | 2,406 | ||
Accrued interest receivable - Carrying Amount | 1,548 | 1,543 | ||
Financial Assets - Carrying Amount, Total | 599,146 | 581,909 | ||
Financial liabilities: | ||||
Deposits - Carrying Amount | 512,412 | 501,819 | ||
FHLB Advances - Carrying Amount | 22,500 | 21,500 | ||
Accrued interest payable - Carrying Amount | 187 | 199 | ||
Financial Liabilities - Carrying Amount, Total | 542,245 | 533,919 | ||
Financial assets: | ||||
Cash and cash equivalents - Fair Value | 11,909 | 11,856 | ||
Securities available for sale - Fair Value | 146,715 | 149,861 | ||
Loans, net - Fair Value | 403,326 | 385,264 | ||
Accrued interest receivable - Fair value | 1,548 | 1,543 | ||
Financial Assets - Fair Value, Total | 563,498 | 548,524 | ||
Financial liabilities: | ||||
Deposits - Fair Value | 514,842 | 504,230 | ||
FHLB Advances - Fair Value | 22,087 | 22,338 | ||
Accrued interest payable - Fair Value | 187 | 199 | ||
Financial Liabilities - Fair Value, Total | 537,116 | 526,767 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Assets | ||||
Securities available for sale | 3,292 | 3,329 | ||
Financial assets: | ||||
Cash and cash equivalents - Fair Value | 11,909 | 11,856 | ||
Securities available for sale - Fair Value | 3,292 | 3,329 | ||
Loans, net - Fair Value | 0 | 0 | ||
Accrued interest receivable - Fair value | 28 | 30 | ||
Financial Assets - Fair Value, Total | 15,229 | 15,215 | ||
Financial liabilities: | ||||
Deposits - Fair Value | 395,284 | 380,685 | ||
FHLB Advances - Fair Value | 0 | 0 | ||
Accrued interest payable - Fair Value | 6 | 32 | ||
Financial Liabilities - Fair Value, Total | 395,290 | 380,717 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Assets | ||||
Securities available for sale | 142,588 | 145,634 | ||
Financial assets: | ||||
Cash and cash equivalents - Fair Value | 0 | 0 | ||
Securities available for sale - Fair Value | 142,588 | 145,634 | ||
Loans, net - Fair Value | 0 | 0 | ||
Accrued interest receivable - Fair value | 443 | 434 | ||
Financial Assets - Fair Value, Total | 143,031 | 146,068 | ||
Financial liabilities: | ||||
Deposits - Fair Value | 119,558 | 123,545 | ||
FHLB Advances - Fair Value | 22,087 | 22,338 | ||
Accrued interest payable - Fair Value | 181 | 167 | ||
Financial Liabilities - Fair Value, Total | 141,826 | 146,050 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Assets | ||||
Securities available for sale | 835 | 898 | ||
Financial assets: | ||||
Cash and cash equivalents - Fair Value | 0 | 0 | ||
Securities available for sale - Fair Value | 835 | 898 | ||
Loans, net - Fair Value | 403,326 | 385,264 | ||
Accrued interest receivable - Fair value | 1,077 | 1,079 | ||
Financial Assets - Fair Value, Total | 405,238 | 387,241 | ||
Financial liabilities: | ||||
Deposits - Fair Value | 0 | 0 | ||
FHLB Advances - Fair Value | 0 | 0 | ||
Accrued interest payable - Fair Value | 0 | 0 | ||
Financial Liabilities - Fair Value, Total | $ 0 | $ 0 |
Fair Value (Details Textual)
Fair Value (Details Textual) - Types Of Financial Instruments [Domain] - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Fair Values Of Financial Instruments [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment, Total | $ 1,500,000 | $ 1,500,000 | $ 3,000,000 | ||
Impaired Financing Receivable, Related Allowance | 408,000 | 408,000 | 596,000 | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | 20,000 | 20,000 | |||
SEC Schedule III, Real Estate, Gross, Total | 23,000 | $ 23,000 | |||
Commercial Real Estate Loan Discounting Rate | 10.00% | ||||
Provision For Loan Losses Expensed | 203,000 | $ 183,000 | $ 371,000 | $ 345,000 | |
SEC Schedule III, Real Estate, Write-down or Reserve, Amount | 3,000 | ||||
Financing Receivable, Modifications, Recorded Investment | 2,700,000 | 2,700,000 | $ 5,600,000 | ||
Sec Schedule III Real Estate | 0 | 0 | 3,000 | 0 | |
Impaired Loans [Member] | |||||
Fair Values Of Financial Instruments [Line Items] | |||||
Provision For Loan Losses Expensed | 235,000 | $ 393,000 | 235,000 | $ 665,000 | |
Two Impaired Commercial Real Estate Loan [Member] | |||||
Fair Values Of Financial Instruments [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 1,800,000 | 1,800,000 | |||
Impaired Residential Mortgage Loan Two [Member] | |||||
Fair Values Of Financial Instruments [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 142,000 | 142,000 | |||
Commercial Business Loan [Member] | |||||
Fair Values Of Financial Instruments [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | $ 255,000 | $ 255,000 |
Accumulated Other Comprehensi52
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accumulated Other Comprehensive Income, Unrealized Gains and Losses on Available-for-Sale Securities, Beginning Balance | $ 883 | $ (1,492) | $ 198 | $ (1,870) |
Other comprehensive income before reclassification, Unrealized Gains and Losses on Available-for-Sale Securities | (829) | 1,006 | (144) | 1,818 |
Amounts reclassified from accumulated other comprehensive income (Loss), Totals, Unrealized Gains and Losses on Available-for-Sale Securities | (22) | 0 | (22) | (434) |
Net current period other comprehensive loss, Totals, Unrealized Gains and Losses on Available-for-Sale Securities | (851) | 1,006 | (166) | 1,384 |
Accumulated Other Comprehensive Income, Unrealized Gains and Losses on Available-for-Sale Securities, Ending Balance | 32 | (486) | 32 | (486) |
Accumulated Other Comprehensive Income, Defined Benefit Pension Items, Beginning Balance | (3,196) | (1,410) | (3,196) | (1,410) |
Other comprehensive income before reclassification, Defined Benefit Pension Items | 0 | 0 | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income (Loss), Defined Benefit Pension Items | 0 | 0 | 0 | 0 |
Net current period other comprehensive loss, Defined Benefit Pension Items | 0 | 0 | 0 | 0 |
Accumulated Other Comprehensive Income, Defined Benefit Pension Items, Ending Balance | (3,196) | (1,410) | (3,196) | (1,410) |
Accumulated Other Comprehensive Income, Totals, Beginning Balance | (2,313) | (2,902) | (2,998) | (3,280) |
Other comprehensive income before reclassification, Totals | (829) | 1,006 | (144) | 1,818 |
Amounts reclassified from accumulated other comprehensive Income (Loss), Defined Benefit Pension Item income | (22) | 0 | (22) | (434) |
Net current period other comprehensive loss, Totals | (851) | 1,006 | (166) | 1,384 |
Accumulated Other Comprehensive Income, Totals, Ending Balance | $ (3,164) | $ (1,896) | $ (3,164) | $ (1,896) |
Accumulated Other Comprehensi53
Accumulated Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Unrealized gains and losses on available-for-sale securities | ||||
Total reclassifications for the period | $ (22) | $ 0 | $ (22) | $ (434) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Unrealized gains and losses on available-for-sale securities | ||||
Net gain on sale of available-for-sale securities | 34 | 0 | 34 | 658 |
Provision for income taxes | (12) | 0 | (12) | (224) |
Total reclassifications for the period | $ 22 | $ 0 | $ 22 | $ 434 |