Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | May. 13, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
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 | 2,146,308 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 2,465 | $ 2,359 |
Interest earning deposits with banks | 14,437 | 9,187 |
Cash and cash equivalents | 16,902 | 11,546 |
Securities available for sale | 112,469 | 112,981 |
Loans receivable, net of allowance for loan losses of $5,352 and $5,205 | 433,824 | 429,891 |
Federal bank stocks, at cost | 3,049 | 4,240 |
Bank-owned life insurance | 11,138 | 11,056 |
Accrued interest receivable | 1,712 | 1,501 |
Premises and equipment, net | 15,924 | 16,114 |
Goodwill | 3,664 | 3,664 |
Core deposit intangible, net | 505 | 554 |
Prepaid expenses and other assets | 8,420 | 9,048 |
Total Assets | 607,607 | 600,595 |
Deposits: | ||
Non-interest bearing | 120,878 | 119,790 |
Interest bearing | 389,801 | 370,097 |
Total deposits | 510,679 | 489,887 |
Short-term borrowed funds | 0 | 14,250 |
Long-term borrowed funds | 35,000 | 35,000 |
Accrued interest payable | 220 | 179 |
Accrued expenses and other liabilities | 7,701 | 8,440 |
Total Liabilities | 553,600 | 547,756 |
Commitments and Contingent Liabilities | 0 | 0 |
Stockholders' Equity: | ||
Common stock, $1.25 par value, 12,000,000 shares authorized; 2,246,825 and 2,246,825 shares issued; 2,144,808 and 2,144,808 shares outstanding, respectively | 2,808 | 2,808 |
Additional paid-in capital | 27,747 | 27,701 |
Treasury stock, at cost; 102,017 shares | (2,114) | (2,114) |
Retained earnings | 28,450 | 28,206 |
Accumulated other comprehensive loss | (2,884) | (3,762) |
Total Stockholders' Equity | 54,007 | 52,839 |
Total Liabilities and Stockholders' Equity | $ 607,607 | $ 600,595 |
Consolidated Balance Sheets _Pa
Consolidated Balance Sheets [Parenthetical] - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Allowance for loan losses (in dollars) | $ 5,352 | $ 5,205 |
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 | 2,246,825 | 2,246,825 |
Common stock, shares outstanding | 2,144,808 | 2,144,808 |
Treasury stock, shares | 102,017 | 102,017 |
Consolidated Statements of Net
Consolidated Statements of Net Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Interest and dividend income: | ||
Loans receivable, including fees | $ 4,702 | $ 4,200 |
Securities: | ||
Taxable | 434 | 524 |
Exempt from federal income tax | 159 | 221 |
Federal bank stocks | 34 | 74 |
Interest earning deposits with banks | 20 | 15 |
Total interest and dividend income | 5,349 | 5,034 |
Interest expense: | ||
Deposits | 588 | 546 |
Borrowed funds | 244 | 182 |
Total interest expense | 832 | 728 |
Net interest income | 4,517 | 4,306 |
Provision for loan losses | 181 | 169 |
Net interest income after provision for loan losses | 4,336 | 4,137 |
Noninterest income: | ||
Fees and service charges | 345 | 349 |
Commissions on financial services | 0 | 5 |
Title premiums | 12 | 11 |
Net gain on sales of available for sale securities | 2 | 0 |
Earnings on bank-owned life insurance | 98 | 97 |
Other | 323 | 317 |
Total noninterest income | 780 | 779 |
Noninterest expense: | ||
Compensation and employee benefits | 2,048 | 2,069 |
Premises and equipment | 685 | 668 |
Intangible asset amortization | 49 | 49 |
Professional fees | 183 | 201 |
Federal deposit insurance | 93 | 97 |
Acquisition costs | 309 | 0 |
Other | 651 | 880 |
Total noninterest expense | 4,018 | 3,964 |
Income before provision for income taxes | 1,098 | 952 |
Provision for income taxes | 296 | 171 |
Net income | 802 | 781 |
Preferred stock dividends | 0 | 25 |
Net income available to common stockholders | $ 802 | $ 756 |
Basic earnings per common share (in dollars per share) | $ 0.37 | $ 0.42 |
Diluted earnings per common share (in dollars per share) | $ 0.37 | $ 0.42 |
Average common shares outstanding - basic (in shares) | 2,144,808 | 1,781,416 |
Average common shares outstanding - diluted (in shares) | 2,153,625 | 1,792,966 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Net income | $ 802 | $ 781 |
Unrealized gains on securities: | ||
Unrealized holding gain arising during the period | 1,332 | 1,038 |
Reclassification adjustment for gains included in net income | (2) | 0 |
Other Comprehensive Income Total | 1,330 | 1,038 |
Tax effect | (452) | (353) |
Net of tax | 878 | 685 |
Comprehensive income | $ 1,680 | $ 1,466 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows from operating activities | ||
Net income | $ 802 | $ 781 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 273 | 245 |
Provision for loan losses | 181 | 169 |
Amortization of premiums, net | 74 | 71 |
Amortization of intangible assets and mortgage servicing rights | 49 | 49 |
Realized gains on sales of available for sale securities, net | (2) | 0 |
Net gains on foreclosed real estate | (9) | (20) |
Write-down of foreclosed real estate | 0 | 3 |
Stock compensation expense | 46 | 53 |
Increase in bank-owned life insurance, net | (82) | (82) |
Increase in accrued interest receivable | (211) | (167) |
(Increase) decrease in prepaid expenses and other assets | 180 | (85) |
Increase (decrease) in accrued interest payable | 41 | (2) |
Decrease in accrued expenses and other liabilities | (738) | (414) |
Net cash provided by operating activities | 604 | 601 |
Cash flows from investing activities | ||
Loan originations and principal collections, net | 2,641 | 3,029 |
Purchase of residential mortgage loans | (6,911) | 0 |
Settlement of syndicated national credits | 0 | (3,018) |
Available for sale securities: | ||
Sales | 3,679 | 0 |
Maturities, repayments and calls | 2,066 | 4,349 |
Purchases | (3,906) | (4,999) |
Redemption of federal bank stocks | 1,191 | 292 |
Proceeds from the sale of foreclosed real estate | 91 | 86 |
Additions to premises and equipment | (83) | (179) |
Net cash used in investing activities | (1,232) | (440) |
Cash flows from financing activities | ||
Net increase in deposits | 20,792 | 14,205 |
Net change in short-term borrowings | (14,250) | (3,500) |
Proceeds from exercise of stock options, including tax benefit | 0 | 4 |
Dividends paid | (558) | (452) |
Net cash provided by financing activities | 5,984 | 10,257 |
Increase in cash and cash equivalents | 5,356 | 10,418 |
Cash and cash equivalents at beginning of period | 11,546 | 11,856 |
Cash and cash equivalents at end of period | 16,902 | 22,274 |
Supplemental information: | ||
Interest paid | 791 | 730 |
Income taxes paid | 0 | 100 |
Supplemental noncash disclosure: | ||
Transfers from loans to foreclosed real estate | $ 86 | $ 197 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity $ in Thousands | USD ($)$ / shares |
Balance at beginning of period at Dec. 31, 2014 | $ 47,990 |
Net income | 781 |
Other comprehensive income | 685 |
Stock compensation expense | 53 |
Dividends declared on preferred stock | (25) |
Dividends declared on common stock | (427) |
Exercise of stock options, including tax benefit | 4 |
Balance at end of period at Mar. 31, 2015 | $ 49,061 |
Cash dividend per common share | $ / shares | $ 0.24 |
Balance at beginning of period at Dec. 31, 2015 | $ 52,839 |
Net income | 802 |
Other comprehensive income | 878 |
Stock compensation expense | 46 |
Dividends declared on preferred stock | 0 |
Dividends declared on common stock | (558) |
Exercise of stock options, including tax benefit | 0 |
Balance at end of period at Mar. 31, 2016 | $ 54,007 |
Cash dividend per common share | $ / shares | $ 0.26 |
Nature of Operations and Basis
Nature of Operations and Basis of Presentation | 3 Months Ended |
Mar. 31, 2016 | |
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, 2015, as contained in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC. The balance sheet at December 31, 2015 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 | 3 Months Ended |
Mar. 31, 2016 | |
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) | 3 Months Ended |
Mar. 31, 2016 | |
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] | 3. 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 |
Earnings per Common Share
Earnings per Common Share | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 4. 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 March 31, 2016 2015 Earnings per common share - basic Net income $ 802 $ 781 Less: Preferred stock dividends - 25 Net income available to common stockholders $ 802 $ 756 Average common shares outstanding 2,144,808 1,781,416 Basic earnings per common share $ 0.37 $ 0.42 Earnings per common share - diluted Net income available to common stockholders $ 802 $ 756 Average common shares outstanding 2,144,808 1,781,416 Add: Dilutive effects of assumed issuance of restricted stock and exercise of stock options 8,817 11,550 Average shares and dilutive potential common shares 2,153,625 1,792,966 Diluted earnings per common share $ 0.37 $ 0.42 Stock options not considered in computing earnings per share because they were antidilutive 67,000 67,000 |
Securities
Securities | 3 Months Ended |
Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities [Text Block] | 5. Securities The following table summarizes the Corporation’s securities as of March 31, 2016 and December 31, 2015: (Dollar amounts in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available for sale: March 31, 2016: U.S. Treasury and federal agency $ 1,493 $ 7 $ - $ 1,500 U.S. government sponsored entities and agencies 10,396 5 (4) 10,397 U.S. agency mortgage-backed securities: residential 31,891 808 - 32,699 U.S. agency collateralized mortgage obligations: residential 29,595 5 (416) 29,184 State and political subdivisions 28,355 422 (3) 28,774 Corporate debt securities 8,015 26 (3) 8,038 Equity securities 1,769 159 (51) 1,877 $ 111,514 $ 1,432 $ (477) $ 112,469 December 31, 2015: U.S. Treasury and federal agency $ 1,493 $ - $ (27) $ 1,466 U.S. government sponsored entities and agencies 8,998 2 (47) 8,953 U.S. agency mortgage-backed securities: residential 32,947 256 (53) 33,150 U.S. agency collateralized mortgage obligations: residential 32,289 23 (872) 31,440 State and political subdivisions 28,352 264 (25) 28,591 Corporate debt securities 7,507 1 (21) 7,487 Equity securities 1,769 188 (63) 1,894 $ 113,355 $ 734 $ (1,108) $ 112,981 The following table summarizes scheduled maturities of the Corporation’s debt securities as of March 31, 2016. 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. 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 $ 1,711 $ 1,721 Due after one year through five years 18,652 18,745 Due after five through ten years 23,251 23,581 Due after ten years 4,645 4,662 Mortgage-backed securities: residential 31,891 32,699 Collateralized mortgage obligations: residential 29,595 29,184 $ 109,745 $ 110,592 Information pertaining to securities with gross unrealized losses at March 31, 2016 and December 31, 2015, 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 March 31, 2016: U.S. government sponsored entities and agencies $ 2,395 $ (4) $ - $ - $ 2,395 $ (4) U.S. agency collateralized mortgage obligations: residential 4,158 (81) 23,303 (335) 27,461 (416) State and political subdivisions - - 754 (3) 754 (3) Corporate debt securities 1,000 (3) - - 1,000 (3) Equity securities 1,149 (51) - - 1,149 (51) $ 8,702 $ (139) $ 24,057 $ (338) $ 32,759 $ (477) December 31, 2015: U.S. Treasury and federal agency $ - $ - $ 1,466 $ (27) $ 1,466 $ (27) U.S. government sponsored entities and agencies 4,962 (36) 1,989 (11) 6,951 (47) U.S. agency mortgage-backed securities: residential 6,710 (53) - - 6,710 (53) U.S. agency collateralized mortgage obligations: residential 4,283 (41) 25,336 (831) 29,619 (872) State and political subdivisions 1,028 (2) 1,819 (23) 2,847 (25) Corporate debt securities 3,484 (20) 500 (1) 3,984 (21) Equity securities 1,137 (63) - - 1,137 (63) $ 21,604 $ (215) $ 31,110 $ (893) $ 52,714 $ (1,108) Gains on sales of available for sale securities for the three months ended March 31 were as follows: (Dollar amounts in thousands) For the three months ended March 31, 2016 2015 Proceeds $ 3,679 $ - Gains 2 - Tax provision related to gains 1 - 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 were two equity securities in an unrealized loss position for less than 12 months as of March 31, 2016. Equity securities owned by the Corporation consist of common stock of various financial service providers. The investment securities are in unrealized loss positions 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 these securities before the recovery of their amortized cost basis, the Corporation does not consider the equity securities with unrealized losses as of March 31, 2016 to be other-than-temporarily impaired. There were 31 debt securities in an unrealized loss position as of March 31, 2016, of which 23 were in an unrealized loss position for more than 12 months. Of these 23 securities, 20 were government-backed collateralized mortgage obligations and 3 were state and political subdivision securities. 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 March 31, 2016 to be other-than-temporarily impaired. |
Loans Receivable and Related Al
Loans Receivable and Related Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2016 | |
Loans Notes Trade and Other Receivables Disclosure [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 6. Loans Receivable and Related Allowance for Loan Losses (Dollar amounts in thousands) March 31, December 31, 2016 2015 Mortgage loans on real estate: Residential first mortgages $ 150,996 $ 139,305 Home equity loans and lines of credit 87,231 87,410 Commercial real estate 127,139 129,691 365,366 356,406 Other loans: Commercial business 67,150 71,948 Consumer 6,660 6,742 73,810 78,690 Total loans, gross 439,176 435,096 Less allowance for loan losses 5,352 5,205 Total loans, net $ 433,824 $ 429,891 Included in total loans above are net deferred fees and costs of $ 1.2 835,000 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 March 31, 2016: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months ended As of March 31, 2016 March 31, 2016 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Related Recorded Recognized Recognized Balance Investment Allowance Investment in Period in Period Residential first mortgages $ 78 $ 78 $ 19 $ 124 $ 1 $ 1 Home equity and lines of credit - - - - - - Commercial real estate - - - 47 - - Commercial business 629 629 78 776 - - Consumer - - - - - - Total $ 707 $ 707 $ 97 $ 947 $ 1 $ 1 Impaired Loans with No Specific Allowance For the three months ended As of March 31, 2016 March 31, 2016 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ 91 $ 58 $ 29 $ 2 $ 2 Home equity and lines of credit - - - - - Commercial real estate 1,256 857 801 1 1 Commercial business 75 75 76 - - Consumer - - - - - Total $ 1,422 $ 990 $ 906 $ 3 $ 3 (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the year ended As of December 31, 2015 December 31, 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 $ 29 $ 170 $ 6 $ 6 Home equity and lines of credit - - - - - - Commercial real estate 93 93 5 1,613 12 9 Commercial business 923 923 76 1,641 112 99 Consumer - - - - - - Total $ 1,185 $ 1,185 $ 110 $ 3,424 $ 130 $ 114 Impaired Loans with No Specific Allowance For the year ended As of December 31, 2015 December 31, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ - $ - $ 45 $ 7 $ 7 Home equity and lines of credit - - - - - Commercial real estate 1,145 746 1,069 49 40 Commercial business 76 76 66 3 3 Consumer - - - - - Total $ 1,221 $ 822 $ 1,180 $ 59 $ 50 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 March 31, 2015: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months As of March 31, 2015 ended March 31, 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 $ 170 $ 170 $ 27 $ 170 $ 2 $ 2 Home equity and lines of credit - - - - - - Commercial real estate 3,550 2,609 252 2,642 - - Commercial business 2,559 2,559 506 2,591 - - Consumer - - - - - - Total $ 6,279 $ 5,338 $ 785 $ 5,403 $ 2 $ 2 Impaired Loans with No Specific Allowance For the three months As of March 31, 2015 ended March 31, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ 111 $ 111 $ 112 $ - $ - Home equity and lines of credit - - - - - Commercial real estate 1,208 809 832 5 5 Commercial business 51 51 51 2 2 Consumer - - - - - Total $ 1,370 $ 971 $ 995 $ 7 $ 7 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 presented above or in the tables that follow 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 March 31, 2016 and December 31, 2015, the Corporation had $ 414,000 835,000 19,000 63,000 During the three month periods ended March 31, 2016 and 2015, the Corporation did not modify any loans as TDRs. A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. During the three month periods ended March 31, 2016 and 2015, the Corporation did not have any loans which were modified as TDRs for which there was a payment default within twelve months following the modification. 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 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 March 31, 2016: Residential first mortgages $ 149,875 $ - $ - $ 1,121 $ - $ 150,996 Home equity and lines of credit 86,696 - - 535 - 87,231 Commercial real estate - 123,014 51 4,074 - 127,139 Commercial business - 60,268 5,933 949 - 67,150 Consumer 6,660 - - - - 6,660 Total $ 243,231 $ 183,282 $ 5,984 $ 6,679 $ - $ 439,176 December 31, 2015: Residential first mortgages $ 138,096 $ - $ - $ 1,209 $ - $ 139,305 Home equity and lines of credit 87,015 - - 395 - 87,410 Commercial real estate - 125,539 88 4,064 - 129,691 Commercial business - 69,740 942 1,266 - 71,948 Consumer 6,742 - - - - 6,742 Total $ 231,853 $ 195,279 $ 1,030 $ 6,934 $ - $ 435,096 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 March 31, 2016: Residential first mortgages $ 148,824 $ 1,022 $ 29 $ - $ 1,121 $ 150,996 Home equity and lines of credit 86,493 204 - 55 479 87,231 Commercial real estate 126,124 146 - 12 857 127,139 Commercial business 66,432 14 - - 704 67,150 Consumer 6,632 28 - - - 6,660 Total loans $ 434,505 $ 1,414 $ 29 $ 67 $ 3,161 $ 439,176 December 31, 2015: Residential first mortgages $ 136,924 $ 1,097 $ 75 $ - $ 1,209 $ 139,305 Home equity and lines of credit 86,691 308 16 - 395 87,410 Commercial real estate 128,945 - - - 746 129,691 Commercial business 71,229 - - - 719 71,948 Consumer 6,723 19 - - - 6,742 Total loans $ 430,512 $ 1,424 $ 91 $ - $ 3,069 $ 435,096 (Dollar amounts in thousands) Not 30-59 Days 60-89 Days 90 Days + Total Past Due Past Due Past Due Past Due Loans March 31, 2016: Residential first mortgages $ 75 $ 78 $ - $ 968 $ 1,121 Home equity and lines of credit 13 - - 466 479 Commercial real estate 601 - - 256 857 Commercial business 675 - - 29 704 Consumer - - - - - Total loans $ 1,364 $ 78 $ - $ 1,719 $ 3,161 December 31, 2015: Residential first mortgages $ 75 $ - $ 79 $ 1,055 $ 1,209 Home equity and lines of credit 14 - - 381 395 Commercial real estate 623 - - 123 746 Commercial business 690 - - 29 719 Consumer - - - - - Total loans $ 1,402 $ - $ 79 $ 1,588 $ 3,069 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 March 31, 2016: Allowance for loan losses: Beginning Balance $ 1,429 $ 586 $ 2,185 $ 960 $ 45 $ 5,205 Charge-offs (33) - - - (9) (42) Recoveries - 1 4 - 3 8 Provision 181 49 (263) 202 12 181 Ending Balance $ 1,577 $ 636 $ 1,926 $ 1,162 $ 51 $ 5,352 Three months ended March 31, 2015: Allowance for loan losses: Beginning Balance $ 955 $ 543 $ 2,338 $ 1,336 $ 52 $ 5,224 Charge-offs (4) (64) - - (22) (90) Recoveries - 4 5 20 8 37 Provision 137 128 (110) 4 10 169 Ending Balance $ 1,088 $ 611 $ 2,233 $ 1,360 $ 48 $ 5,340 At March 31, 2016: Ending ALL balance attributable to loans: Individually evaluated for impairment $ 19 $ - $ - $ 78 $ - $ 97 Collectively evaluated for impairment 1,558 636 1,926 1,084 51 5,255 Total $ 1,577 $ 636 $ 1,926 $ 1,162 $ 51 $ 5,352 Total loans: Individually evaluated for impairment $ 136 $ - $ 857 $ 704 $ - $ 1,697 Collectively evaluated for impairment 150,860 87,231 126,282 66,446 6,660 437,479 Total $ 150,996 $ 87,231 $ 127,139 $ 67,150 $ 6,660 $ 439,176 At December 31, 2015: Ending ALL balance attributable to loans: Individually evaluated for impairment $ 29 $ - $ 5 $ 76 $ - $ 110 Collectively evaluated for impairment 1,400 586 2,180 884 45 5,095 Total $ 1,429 $ 586 $ 2,185 $ 960 $ 45 $ 5,205 Total loans: Individually evaluated for impairment $ 169 $ - $ 839 $ 999 $ - $ 2,007 Collectively evaluated for impairment 139,136 87,410 128,852 70,949 6,742 433,089 Total $ 139,305 $ 87,410 $ 129,691 $ 71,948 $ 6,742 $ 435,096 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 | 3 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | 7. Goodwill and Intangible Assets (Dollar amounts in thousands) March 31, 2016 December 31, 2015 Gross Carrying Accumulated Gross Carrying Accumulated Amount Amortization Amount Amortization Goodwill $ 3,664 $ - $ 3,664 $ - Core deposit intangibles 4,027 3,522 4,027 3,473 Total $ 7,691 $ 3,522 $ 7,691 $ 3,473 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 2015 or in the first three months of 2016. 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 month periods ending March 31, 2016 and 2015, the Corporation recorded intangible amortization expense totaling $ 49,000 |
Stock Compensation Plans
Stock Compensation Plans | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 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 75,483 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 1,313 45,283 Aggregate Weighted-Average Weighted-Average Intrinsic Value Remaining Term Options Exercise Price (in thousands) (in years) Outstanding as of January 1, 2016 73,000 $ 25.71 $ 9,000 1.6 Granted - - - - Exercised - - - - Forfeited - - - - Outstanding as of March 31, 2016 73,000 $ 25.71 $ 15,000 1.3 Exercisable as of March 31, 2016 73,000 $ 25.71 $ 15,000 1.3 Weighted-Average Shares Grant-date Fair Value Nonvested at January 1, 2016 23,450 $ 24.38 Granted - - Vested - - Forfeited - - Nonvested as of March 31, 2016 23,450 $ 24.38 For the three month period ended March 31, 2016, the Corporation recognized $ 46,000 53,000 344,000 1.8 |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2016 | |
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 Level 2 Level 3 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 Securities available for sale Loans Impaired loans – Other real estate owned (OREO) 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% should be applied. Federal bank stock Deposits Borrowings Accrued interest receivable and payable 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 March 31, 2016: U.S. Treasury and federal agency $ 1,500 $ 1,500 $ - $ - U.S. government sponsored entities and agencies 10,397 - 10,397 - U.S. agency mortgage-backed securities: residential 32,699 - 32,699 - U.S. agency collateralized mortgage obligations: residential 29,184 - 29,184 - State and political subdivision 28,774 - 28,774 - Corporate debt securities 8,038 - 8,038 - Equity securities 1,877 1,803 - 74 $ 112,469 $ 3,303 $ 109,092 $ 74 December 31, 2015: U.S. Treasury and federal agency $ 1,466 $ 1,466 $ - $ - U.S. government sponsored entities and agencies 8,953 - 8,953 - U.S. agency mortgage-backed securities: residential 33,150 - 33,150 - U.S. agency collateralized mortgage obligations: residential 31,440 - 31,440 - State and political subdivisions 28,591 - 28,591 - Corporate debt securities 7,487 - 7,487 - Equity securities 1,894 1,820 - 74 $ 112,981 $ 3,286 $ 109,621 $ 74 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 month periods ended March 31, 2016 and 2015, the Corporation had no transfers between levels. The following table presents changes in Level 3 assets measured on a recurring basis for the three month period ended March 31, 2016 and 2015: (Dollar amounts in thousands) Three months ended March 31, 2016 2015 Balance at the beginning of the period $ 74 $ 898 Total gains or losses (realized/unrealized): - - Included in earnings - - Included in other comprehensive income - (70 ) Issuances - - Transfers in and/or out of Level 3 - - Balance at the end of the period $ 74 $ 828 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 March 31, 2016: Impaired commercial business loans $ 551 $ - $ - $ 551 December 31, 2015: Impaired commercial business loans $ 596 $ - $ - $ 596 Other residential real estate owned 13 - - 13 $ 609 $ - $ - $ 609 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 March 31, 2016: Impaired commercial business loans $ 551 Liquidation value of business assets Adjustment for differences between comparable business assets 66 % December 31, 2015: Impaired commercial business loans $ 596 Liquidation value of business assets Adjustment for differences between comparable business assets 65 % Other residential real estate owned 13 Sales comparison approach Adjustment for differences between comparable sales 10 % The two tables above exclude an impaired residential mortgage loan totaling $78,000 classified as a TDR which was measured using a discounted cash flow methodology at March 31, 2016. Excluded at December 31, 2015 were two impaired residential mortgage loans totaling $140,000, an $89,000 impaired commercial real estate loan and a $250,000 impaired commercial business loan classified as TDRs which were measured using a discounted cash flow methodology. 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 March 31, 2016 and December 31, 2015: (Dollar amounts in thousands) Carrying Fair Value Measurements using: Description Amount Total Level 1 Level 2 Level 3 March 31, 2016: Financial Assets: Cash and cash equivalents $ 16,902 $ 16,902 $ 16,902 $ - $ - Securities available for sale 112,469 112,469 3,303 109,092 74 Loans, net 433,824 439,573 - - 439,573 Federal bank stock 3,049 N/A N/A N/A N/A Accrued interest receivable 1,712 1,712 46 404 1,262 $ 567,957 $ 570,656 $ 20,251 $ 109,496 $ 440,909 Financial Liabilities: Deposits 510,679 512,657 388,116 124,541 - Borrowed funds 35,000 36,964 - 36,964 - Accrued interest payable 220 220 5 215 - $ 545,900 $ 549,841 $ 388,121 $ 161,720 $ - Carrying Fair Value Measurements using: Amount Total Level 1 Level 2 Level 3 December 31, 2015: Financial Assets: Cash and cash equivalents $ 11,546 $ 11,546 $ 11,546 $ - $ - Securities available for sale 112,981 112,981 3,286 109,621 74 Loans, net 429,891 436,009 - - 436,009 Federal bank stock 4,240 N/A N/A N/A N/A Accrued interest receivable 1,501 1,501 64 299 1,138 $ 560,159 $ 562,037 $ 14,896 $ 109,920 $ 437,221 Financial Liabilities: Deposits 489,887 491,781 376,409 115,372 - Borrowed funds 49,250 50,636 - 50,636 - Accrued interest payable 179 179 5 174 - $ 539,316 $ 542,596 $ 376,414 $ 166,182 $ - |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2016 | |
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 January 1, 2016 $ (248) $ (3,514) $ (3,762) Other comprehensive income before reclassification 879 - 879 Amounts reclassified from accumulated other comprehensive income (loss) (1) - (1) Net current period other comprehensive income 878 - 878 Accumulated Other Comprehensive Income (Loss) at March 31, 2016 $ 630 $ (3,514) $ (2,884) (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 March 31, 2016 Income is Presented Unrealized gains and losses on available-for-sale securities $ 2 Net gain on sale of available-for-sale securities (1) Provision for income taxes Total reclassifications for the period $ 1 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 (Loss) at January 1, 2015 $ 198 $ (3,196) $ (2,998) Other comprehensive income before reclassification 685 - 685 Amounts reclassified from accumulated other comprehensive income (loss) - - - Net current period other comprehensive income 685 - 685 Accumulated Other Comprehensive Income (Loss) at March 31, 2015 $ 883 $ (3,196) $ (2,313) There were no amounts reclassified out of accumulated other comprehensive income for the three months ended March 31, 2015. |
New Accounting Standards
New Accounting Standards | 3 Months Ended |
Mar. 31, 2016 | |
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 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-01, “ Recognition and Measurement of Financial Assets and Financial Liabilities. In February 2016, the FASB issued ASU 2016-02, “ Leases. In March 2016, the FASB issued ASU 2016-09, “ Improvements to Employee Share-Based Payment Accounting. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 12. Subsequent Events On April 30, 2016, the Corporation completed its acquisition of United American Savings Bank (United American) in accordance with the terms of the Agreement and Plan of Merger, dated as of December 30, 2015, by and among the Corporation, the Bank and United American (the Merger Agreement). Pursuant to the Merger Agreement, the Corporation acquired United American through a reverse merger of a newly created, wholly-owned subsidiary of the Bank, into United American. Immediately after the merger, United American merged with and into The Farmers National Bank of Emlenton, with Farmers National being the surviving bank. At December 31, 2015, United American had reported assets of $ 89.3 14.1 42.67 |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 March 31, 2016 2015 Earnings per common share - basic Net income $ 802 $ 781 Less: Preferred stock dividends - 25 Net income available to common stockholders $ 802 $ 756 Average common shares outstanding 2,144,808 1,781,416 Basic earnings per common share $ 0.37 $ 0.42 Earnings per common share - diluted Net income available to common stockholders $ 802 $ 756 Average common shares outstanding 2,144,808 1,781,416 Add: Dilutive effects of assumed issuance of restricted stock and exercise of stock options 8,817 11,550 Average shares and dilutive potential common shares 2,153,625 1,792,966 Diluted earnings per common share $ 0.37 $ 0.42 Stock options not considered in computing earnings per share because they were antidilutive 67,000 67,000 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 March 31, 2016 and December 31, 2015: (Dollar amounts in thousands) Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available for sale: March 31, 2016: U.S. Treasury and federal agency $ 1,493 $ 7 $ - $ 1,500 U.S. government sponsored entities and agencies 10,396 5 (4) 10,397 U.S. agency mortgage-backed securities: residential 31,891 808 - 32,699 U.S. agency collateralized mortgage obligations: residential 29,595 5 (416) 29,184 State and political subdivisions 28,355 422 (3) 28,774 Corporate debt securities 8,015 26 (3) 8,038 Equity securities 1,769 159 (51) 1,877 $ 111,514 $ 1,432 $ (477) $ 112,469 December 31, 2015: U.S. Treasury and federal agency $ 1,493 $ - $ (27) $ 1,466 U.S. government sponsored entities and agencies 8,998 2 (47) 8,953 U.S. agency mortgage-backed securities: residential 32,947 256 (53) 33,150 U.S. agency collateralized mortgage obligations: residential 32,289 23 (872) 31,440 State and political subdivisions 28,352 264 (25) 28,591 Corporate debt securities 7,507 1 (21) 7,487 Equity securities 1,769 188 (63) 1,894 $ 113,355 $ 734 $ (1,108) $ 112,981 |
Schedule Of Contractual Maturities Of Available For Sale Securities Debt Maturities [Table Text Block] | The following table summarizes scheduled maturities of the Corporation’s debt securities as of March 31, 2016. 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. 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 $ 1,711 $ 1,721 Due after one year through five years 18,652 18,745 Due after five through ten years 23,251 23,581 Due after ten years 4,645 4,662 Mortgage-backed securities: residential 31,891 32,699 Collateralized mortgage obligations: residential 29,595 29,184 $ 109,745 $ 110,592 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Information pertaining to securities with gross unrealized losses at March 31, 2016 and December 31, 2015, 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 March 31, 2016: U.S. government sponsored entities and agencies $ 2,395 $ (4) $ - $ - $ 2,395 $ (4) U.S. agency collateralized mortgage obligations: residential 4,158 (81) 23,303 (335) 27,461 (416) State and political subdivisions - - 754 (3) 754 (3) Corporate debt securities 1,000 (3) - - 1,000 (3) Equity securities 1,149 (51) - - 1,149 (51) $ 8,702 $ (139) $ 24,057 $ (338) $ 32,759 $ (477) December 31, 2015: U.S. Treasury and federal agency $ - $ - $ 1,466 $ (27) $ 1,466 $ (27) U.S. government sponsored entities and agencies 4,962 (36) 1,989 (11) 6,951 (47) U.S. agency mortgage-backed securities: residential 6,710 (53) - - 6,710 (53) U.S. agency collateralized mortgage obligations: residential 4,283 (41) 25,336 (831) 29,619 (872) State and political subdivisions 1,028 (2) 1,819 (23) 2,847 (25) Corporate debt securities 3,484 (20) 500 (1) 3,984 (21) Equity securities 1,137 (63) - - 1,137 (63) $ 21,604 $ (215) $ 31,110 $ (893) $ 52,714 $ (1,108) |
Available-for-sale Securities [Table Text Block] | Gains on sales of available for sale securities for the three months ended March 31 were as follows: (Dollar amounts in thousands) For the three months ended March 31, 2016 2015 Proceeds $ 3,679 $ - Gains 2 - Tax provision related to gains 1 - |
Loans Receivable and Related 22
Loans Receivable and Related Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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) March 31, December 31, 2016 2015 Mortgage loans on real estate: Residential first mortgages $ 150,996 $ 139,305 Home equity loans and lines of credit 87,231 87,410 Commercial real estate 127,139 129,691 365,366 356,406 Other loans: Commercial business 67,150 71,948 Consumer 6,660 6,742 73,810 78,690 Total loans, gross 439,176 435,096 Less allowance for loan losses 5,352 5,205 Total loans, net $ 433,824 $ 429,891 |
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 March 31, 2016: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months ended As of March 31, 2016 March 31, 2016 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Related Recorded Recognized Recognized Balance Investment Allowance Investment in Period in Period Residential first mortgages $ 78 $ 78 $ 19 $ 124 $ 1 $ 1 Home equity and lines of credit - - - - - - Commercial real estate - - - 47 - - Commercial business 629 629 78 776 - - Consumer - - - - - - Total $ 707 $ 707 $ 97 $ 947 $ 1 $ 1 Impaired Loans with No Specific Allowance For the three months ended As of March 31, 2016 March 31, 2016 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ 91 $ 58 $ 29 $ 2 $ 2 Home equity and lines of credit - - - - - Commercial real estate 1,256 857 801 1 1 Commercial business 75 75 76 - - Consumer - - - - - Total $ 1,422 $ 990 $ 906 $ 3 $ 3 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, 2015: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the year ended As of December 31, 2015 December 31, 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 $ 29 $ 170 $ 6 $ 6 Home equity and lines of credit - - - - - - Commercial real estate 93 93 5 1,613 12 9 Commercial business 923 923 76 1,641 112 99 Consumer - - - - - - Total $ 1,185 $ 1,185 $ 110 $ 3,424 $ 130 $ 114 Impaired Loans with No Specific Allowance For the year ended As of December 31, 2015 December 31, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ - $ - $ 45 $ 7 $ 7 Home equity and lines of credit - - - - - Commercial real estate 1,145 746 1,069 49 40 Commercial business 76 76 66 3 3 Consumer - - - - - Total $ 1,221 $ 822 $ 1,180 $ 59 $ 50 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 March 31, 2015: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months As of March 31, 2015 ended March 31, 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 $ 170 $ 170 $ 27 $ 170 $ 2 $ 2 Home equity and lines of credit - - - - - - Commercial real estate 3,550 2,609 252 2,642 - - Commercial business 2,559 2,559 506 2,591 - - Consumer - - - - - - Total $ 6,279 $ 5,338 $ 785 $ 5,403 $ 2 $ 2 Impaired Loans with No Specific Allowance For the three months As of March 31, 2015 ended March 31, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ 111 $ 111 $ 112 $ - $ - Home equity and lines of credit - - - - - Commercial real estate 1,208 809 832 5 5 Commercial business 51 51 51 2 2 Consumer - - - - - Total $ 1,370 $ 971 $ 995 $ 7 $ 7 |
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 March 31, 2016 and December 31, 2015: (Dollar amounts in thousands) Special Not Rated Pass Mention Substandard Doubtful Total March 31, 2016: Residential first mortgages $ 149,875 $ - $ - $ 1,121 $ - $ 150,996 Home equity and lines of credit 86,696 - - 535 - 87,231 Commercial real estate - 123,014 51 4,074 - 127,139 Commercial business - 60,268 5,933 949 - 67,150 Consumer 6,660 - - - - 6,660 Total $ 243,231 $ 183,282 $ 5,984 $ 6,679 $ - $ 439,176 December 31, 2015: Residential first mortgages $ 138,096 $ - $ - $ 1,209 $ - $ 139,305 Home equity and lines of credit 87,015 - - 395 - 87,410 Commercial real estate - 125,539 88 4,064 - 129,691 Commercial business - 69,740 942 1,266 - 71,948 Consumer 6,742 - - - - 6,742 Total $ 231,853 $ 195,279 $ 1,030 $ 6,934 $ - $ 435,096 |
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 March 31, 2016 and December 31, 2015: (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 March 31, 2016: Residential first mortgages $ 148,824 $ 1,022 $ 29 $ - $ 1,121 $ 150,996 Home equity and lines of credit 86,493 204 - 55 479 87,231 Commercial real estate 126,124 146 - 12 857 127,139 Commercial business 66,432 14 - - 704 67,150 Consumer 6,632 28 - - - 6,660 Total loans $ 434,505 $ 1,414 $ 29 $ 67 $ 3,161 $ 439,176 December 31, 2015: Residential first mortgages $ 136,924 $ 1,097 $ 75 $ - $ 1,209 $ 139,305 Home equity and lines of credit 86,691 308 16 - 395 87,410 Commercial real estate 128,945 - - - 746 129,691 Commercial business 71,229 - - - 719 71,948 Consumer 6,723 19 - - - 6,742 Total loans $ 430,512 $ 1,424 $ 91 $ - $ 3,069 $ 435,096 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | The following table presents the Corporation’s nonaccrual loans by aging category as of March 31, 2016 and December 31, 2015: (Dollar amounts in thousands) Not 30-59 Days 60-89 Days 90 Days + Total Past Due Past Due Past Due Past Due Loans March 31, 2016: Residential first mortgages $ 75 $ 78 $ - $ 968 $ 1,121 Home equity and lines of credit 13 - - 466 479 Commercial real estate 601 - - 256 857 Commercial business 675 - - 29 704 Consumer - - - - - Total loans $ 1,364 $ 78 $ - $ 1,719 $ 3,161 December 31, 2015: Residential first mortgages $ 75 $ - $ 79 $ 1,055 $ 1,209 Home equity and lines of credit 14 - - 381 395 Commercial real estate 623 - - 123 746 Commercial business 690 - - 29 719 Consumer - - - - - Total loans $ 1,402 $ - $ 79 $ 1,588 $ 3,069 |
Allowance For Credit Losses On Loans Receivables, Additional Information [Table Text Block] | The (Dollar amounts in thousands) Home Equity Residential & Lines Commercial Commercial Mortgages of Credit Real Estate Business Consumer Total Three months ended March 31, 2016: Allowance for loan losses: Beginning Balance $ 1,429 $ 586 $ 2,185 $ 960 $ 45 $ 5,205 Charge-offs (33) - - - (9) (42) Recoveries - 1 4 - 3 8 Provision 181 49 (263) 202 12 181 Ending Balance $ 1,577 $ 636 $ 1,926 $ 1,162 $ 51 $ 5,352 Three months ended March 31, 2015: Allowance for loan losses: Beginning Balance $ 955 $ 543 $ 2,338 $ 1,336 $ 52 $ 5,224 Charge-offs (4) (64) - - (22) (90) Recoveries - 4 5 20 8 37 Provision 137 128 (110) 4 10 169 Ending Balance $ 1,088 $ 611 $ 2,233 $ 1,360 $ 48 $ 5,340 At March 31, 2016: Ending ALL balance attributable to loans: Individually evaluated for impairment $ 19 $ - $ - $ 78 $ - $ 97 Collectively evaluated for impairment 1,558 636 1,926 1,084 51 5,255 Total $ 1,577 $ 636 $ 1,926 $ 1,162 $ 51 $ 5,352 Total loans: Individually evaluated for impairment $ 136 $ - $ 857 $ 704 $ - $ 1,697 Collectively evaluated for impairment 150,860 87,231 126,282 66,446 6,660 437,479 Total $ 150,996 $ 87,231 $ 127,139 $ 67,150 $ 6,660 $ 439,176 At December 31, 2015: Ending ALL balance attributable to loans: Individually evaluated for impairment $ 29 $ - $ 5 $ 76 $ - $ 110 Collectively evaluated for impairment 1,400 586 2,180 884 45 5,095 Total $ 1,429 $ 586 $ 2,185 $ 960 $ 45 $ 5,205 Total loans: Individually evaluated for impairment $ 169 $ - $ 839 $ 999 $ - $ 2,007 Collectively evaluated for impairment 139,136 87,410 128,852 70,949 6,742 433,089 Total $ 139,305 $ 87,410 $ 129,691 $ 71,948 $ 6,742 $ 435,096 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 March 31, 2016 and December 31, 2015: (Dollar amounts in thousands) March 31, 2016 December 31, 2015 Gross Carrying Accumulated Gross Carrying Accumulated Amount Amortization Amount Amortization Goodwill $ 3,664 $ - $ 3,664 $ - Core deposit intangibles 4,027 3,522 4,027 3,473 Total $ 7,691 $ 3,522 $ 7,691 $ 3,473 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 March 31, 2016, 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, 2016 73,000 $ 25.71 $ 9,000 1.6 Granted - - - - Exercised - - - - Forfeited - - - - Outstanding as of March 31, 2016 73,000 $ 25.71 $ 15,000 1.3 Exercisable as of March 31, 2016 73,000 $ 25.71 $ 15,000 1.3 |
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 March 31, 2016, and changes during the period then ended is presented below: Weighted-Average Shares Grant-date Fair Value Nonvested at January 1, 2016 23,450 $ 24.38 Granted - - Vested - - Forfeited - - Nonvested as of March 31, 2016 23,450 $ 24.38 |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 March 31, 2016: U.S. Treasury and federal agency $ 1,500 $ 1,500 $ - $ - U.S. government sponsored entities and agencies 10,397 - 10,397 - U.S. agency mortgage-backed securities: residential 32,699 - 32,699 - U.S. agency collateralized mortgage obligations: residential 29,184 - 29,184 - State and political subdivision 28,774 - 28,774 - Corporate debt securities 8,038 - 8,038 - Equity securities 1,877 1,803 - 74 $ 112,469 $ 3,303 $ 109,092 $ 74 December 31, 2015: U.S. Treasury and federal agency $ 1,466 $ 1,466 $ - $ - U.S. government sponsored entities and agencies 8,953 - 8,953 - U.S. agency mortgage-backed securities: residential 33,150 - 33,150 - U.S. agency collateralized mortgage obligations: residential 31,440 - 31,440 - State and political subdivisions 28,591 - 28,591 - Corporate debt securities 7,487 - 7,487 - Equity securities 1,894 1,820 - 74 $ 112,981 $ 3,286 $ 109,621 $ 74 |
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 month period ended March 31, 2016 and 2015: (Dollar amounts in thousands) Three months ended March 31, 2016 2015 Balance at the beginning of the period $ 74 $ 898 Total gains or losses (realized/unrealized): - - Included in earnings - - Included in other comprehensive income - (70) Issuances - - Transfers in and/or out of Level 3 - - Balance at the end of the period $ 74 $ 828 |
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 March 31, 2016: Impaired commercial business loans $ 551 $ - $ - $ 551 December 31, 2015: Impaired commercial business loans $ 596 $ - $ - $ 596 Other residential real estate owned 13 - - 13 $ 609 $ - $ - $ 609 |
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: Valuation Unobservable (Dollar amounts in thousands) Techniques(s) Input (s) Range March 31, 2016: Impaired commercial business loans $ 551 Liquidation value of business assets Adjustment for differences between comparable business assets 66 % December 31, 2015: Impaired commercial business loans $ 596 Liquidation value of business assets Adjustment for differences between comparable business assets 65 % Other residential real estate owned 13 Sales comparison approach Adjustment for differences between comparable sales 10 % |
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 March 31, 2016 and December 31, 2015: (Dollar amounts in thousands) Carrying Fair Value Measurements using: Description Amount Total Level 1 Level 2 Level 3 March 31, 2016: Financial Assets: Cash and cash equivalents $ 16,902 $ 16,902 $ 16,902 $ - $ - Securities available for sale 112,469 112,469 3,303 109,092 74 Loans, net 433,824 439,573 - - 439,573 Federal bank stock 3,049 N/A N/A N/A N/A Accrued interest receivable 1,712 1,712 46 404 1,262 $ 567,957 $ 570,656 $ 20,251 $ 109,496 $ 440,909 Financial Liabilities: Deposits 510,679 512,657 388,116 124,541 - Borrowed funds 35,000 36,964 - 36,964 - Accrued interest payable 220 220 5 215 - $ 545,900 $ 549,841 $ 388,121 $ 161,720 $ - Carrying Fair Value Measurements using: Amount Total Level 1 Level 2 Level 3 December 31, 2015: Financial Assets: Cash and cash equivalents $ 11,546 $ 11,546 $ 11,546 $ - $ - Securities available for sale 112,981 112,981 3,286 109,621 74 Loans, net 429,891 436,009 - - 436,009 Federal bank stock 4,240 N/A N/A N/A N/A Accrued interest receivable 1,501 1,501 64 299 1,138 $ 560,159 $ 562,037 $ 14,896 $ 109,920 $ 437,221 Financial Liabilities: Deposits 489,887 491,781 376,409 115,372 - Borrowed funds 49,250 50,636 - 50,636 - Accrued interest payable 179 179 5 174 - $ 539,316 $ 542,596 $ 376,414 $ 166,182 $ - |
Accumulated Other Comprehensi26
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Income (Loss) at January 1, 2016 $ (248) $ (3,514) $ (3,762) Other comprehensive income before reclassification 879 - 879 Amounts reclassified from accumulated other comprehensive income (loss) (1) - (1) Net current period other comprehensive income 878 - 878 Accumulated Other Comprehensive Income (Loss) at March 31, 2016 $ 630 $ (3,514) $ (2,884) (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Income (Loss) at January 1, 2015 $ 198 $ (3,196) $ (2,998) Other comprehensive income before reclassification 685 - 685 Amounts reclassified from accumulated other comprehensive income (loss) - - - Net current period other comprehensive income 685 - 685 Accumulated Other Comprehensive Income (Loss) at March 31, 2015 $ 883 $ (3,196) $ (2,313) |
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 March 31, 2016 Income is Presented Unrealized gains and losses on available-for-sale securities $ 2 Net gain on sale of available-for-sale securities (1) Provision for income taxes Total reclassifications for the period $ 1 Net of tax |
Issuance of Common Stock (Detai
Issuance of Common Stock (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Stock Issued During Period, Shares, New Issues | 350,000 | |
Common Stock, Par Or Stated Value Per Share | $ 1.25 | $ 1.25 |
Stock Issued During Period, Value, New Issues | $ 8,200,000 | |
Payments of Stock Issuance Costs | $ 63,000 | |
Investor [Member] | ||
Common Stock, Par Or Stated Value Per Share | $ 23.50 | |
Individual [Member] | ||
Common Stock, Par Or Stated Value Per Share | $ 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 Millions | 1 Months Ended | ||||
Sep. 17, 2013 | Aug. 18, 2011 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Treasury Stock, Shares | 102,017 | 102,017 | |||
Series B Non Cumulative Preferred Stock [Member] | |||||
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 Redemption Shares | 5,000 | ||||
Preferred Stock Redemption Percentage | 50.00% | ||||
Preferred Stock, Redemption Amount | $ 5 | $ 5 | |||
Preferred Stock, Liquidation Preference Per Share | $ 1,000 | ||||
Proceeds from Issuance or Sale of Equity, Total | $ 10 | ||||
Treasury Stock, Shares | 5,000 |
Earnings per Common Share (Deta
Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Earnings per common share - basic | ||
Net income | $ 802 | $ 781 |
Less: Preferred stock dividends | 0 | 25 |
Net income available to common stockholders | $ 802 | $ 756 |
Average common shares outstanding (in shares) | 2,144,808 | 1,781,416 |
Basic earnings per common share (in dollars per share) | $ 0.37 | $ 0.42 |
Earnings per common share - diluted | ||
Net income available to common stockholders | $ 802 | $ 756 |
Average common shares outstanding (in shares) | 2,144,808 | 1,781,416 |
Add: Dilutive effects of assumed issuance of restricted stock and exercise of stock options (in shares) | 8,817 | 11,550 |
Average shares and dilutive potential common shares (in shares) | 2,153,625 | 1,792,966 |
Diluted earnings per common share (in dollars per share) | $ 0.37 | $ 0.42 |
Stock options not considered in computing earnings per share because they were antidilutive (in shares) | 67,000 | 67,000 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 111,514 | $ 113,355 |
Gross Unrealized Gains | 1,432 | 734 |
Gross Unrealized Losses | (477) | (1,108) |
Fair Value | 112,469 | 112,981 |
U.S. Treasury and federal agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,493 | 1,493 |
Gross Unrealized Gains | 7 | 0 |
Gross Unrealized Losses | 0 | (27) |
Fair Value | 1,500 | 1,466 |
U.S. government sponsored entities and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 10,396 | 8,998 |
Gross Unrealized Gains | 5 | 2 |
Gross Unrealized Losses | (4) | (47) |
Fair Value | 10,397 | 8,953 |
U.S. agency mortgage-backed securities: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 31,891 | 32,947 |
Gross Unrealized Gains | 808 | 256 |
Gross Unrealized Losses | 0 | (53) |
Fair Value | 32,699 | 33,150 |
U.S. agency collateralized mortgage obligations: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 29,595 | 32,289 |
Gross Unrealized Gains | 5 | 23 |
Gross Unrealized Losses | (416) | (872) |
Fair Value | 29,184 | 31,440 |
State and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 28,355 | 28,352 |
Gross Unrealized Gains | 422 | 264 |
Gross Unrealized Losses | (3) | (25) |
Fair Value | 28,774 | 28,591 |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 8,015 | 7,507 |
Gross Unrealized Gains | 26 | 1 |
Gross Unrealized Losses | (3) | (21) |
Fair Value | 8,038 | 7,487 |
Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,769 | 1,769 |
Gross Unrealized Gains | 159 | 188 |
Gross Unrealized Losses | (51) | (63) |
Fair Value | $ 1,877 | $ 1,894 |
Securities (Details 1)
Securities (Details 1) $ in Thousands | Mar. 31, 2016USD ($) |
Schedule of Available-for-sale Securities [Line Items] | |
Due in one year or less, Amortized Cost | $ 1,711 |
Due after one year through five years, Amortized Cost | 18,652 |
Due after five through ten years, Amortized Cost | 23,251 |
Due after ten years, Amortized Cost | 4,645 |
Amortized Cost | 109,745 |
Due in one year or less, Fair Value | 1,721 |
Due after one year through five years, Fair Value | 18,745 |
Due after five through ten years, Fair Value | 23,581 |
Due after ten years, Fair Value | 4,662 |
Fair Value | 110,592 |
U.S. agency mortgage-backed securities: residential [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Amortized Cost | 31,891 |
Fair Value | 32,699 |
U.S. agency collateralized mortgage obligations: residential [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Amortized Cost | 29,595 |
Fair Value | $ 29,184 |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | $ 8,702 | $ 21,604 |
Unrealized Loss, Less than 12 Months | (139) | (215) |
Fair Value, 12 Months or More | 24,057 | 31,110 |
Unrealized Loss, 12 Months or More | (338) | (893) |
Fair Value, Total | 32,759 | 52,714 |
Unrealized Loss, Total | (477) | (1,108) |
U.S. Treasury and federal agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 0 | |
Unrealized Loss, Less than 12 Months | 0 | |
Fair Value, 12 Months or More | 1,466 | |
Unrealized Loss, 12 Months or More | (27) | |
Fair Value, Total | 1,466 | |
Unrealized Loss, Total | (27) | |
U.S. government sponsored entities and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 2,395 | 4,962 |
Unrealized Loss, Less than 12 Months | (4) | (36) |
Fair Value, 12 Months or More | 0 | 1,989 |
Unrealized Loss, 12 Months or More | 0 | (11) |
Fair Value, Total | 2,395 | 6,951 |
Unrealized Loss, Total | (4) | (47) |
U.S. agency mortgage-backed securities: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 6,710 | |
Unrealized Loss, Less than 12 Months | (53) | |
Fair Value, 12 Months or More | 0 | |
Unrealized Loss, 12 Months or More | 0 | |
Fair Value, Total | 6,710 | |
Unrealized Loss, Total | (53) | |
U.S. agency collateralized mortgage obligations: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 4,158 | 4,283 |
Unrealized Loss, Less than 12 Months | (81) | (41) |
Fair Value, 12 Months or More | 23,303 | 25,336 |
Unrealized Loss, 12 Months or More | (335) | (831) |
Fair Value, Total | 27,461 | 29,619 |
Unrealized Loss, Total | (416) | (872) |
State and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 0 | 1,028 |
Unrealized Loss, Less than 12 Months | 0 | (2) |
Fair Value, 12 Months or More | 754 | 1,819 |
Unrealized Loss, 12 Months or More | (3) | (23) |
Fair Value, Total | 754 | 2,847 |
Unrealized Loss, Total | (3) | (25) |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 1,000 | 3,484 |
Unrealized Loss, Less than 12 Months | (3) | (20) |
Fair Value, 12 Months or More | 0 | 500 |
Unrealized Loss, 12 Months or More | 0 | (1) |
Fair Value, Total | 1,000 | 3,984 |
Unrealized Loss, Total | (3) | (21) |
Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 1,149 | 1,137 |
Unrealized Loss, Less than 12 Months | (51) | (63) |
Fair Value, 12 Months or More | 0 | 0 |
Unrealized Loss, 12 Months or More | 0 | 0 |
Fair Value, Total | 1,149 | 1,137 |
Unrealized Loss, Total | $ (51) | $ (63) |
Securities (Details 3)
Securities (Details 3) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Proceeds | $ 3,679 | $ 0 |
Gains | 2 | 0 |
Tax provision related to gains | $ 1 | $ 0 |
Loans Receivable and Related 34
Loans Receivable and Related Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Mortgage loans on real estate: | ||
Residential first mortgages | $ 150,996 | $ 139,305 |
Home equity loans and lines of credit | 87,231 | 87,410 |
Commercial real estate | 127,139 | 129,691 |
Mortgage Loans on Real Estate | 365,366 | 356,406 |
Other loans: | ||
Commercial business | 67,150 | 71,948 |
Consumer | 6,660 | 6,742 |
Loans Receivable Commercial and Consumer | 73,810 | 78,690 |
Total loans, gross | 439,176 | 435,096 |
Less allowance for loan losses | 5,352 | 5,205 |
Total loans, net | $ 433,824 | $ 429,891 |
Loans Receivable and Related 35
Loans Receivable and Related Allowance for Loan Losses (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | $ 609 | ||
Recorded Investment | $ 629 | 643 | |
Related Allowance | 78 | 47 | |
Loans Receivable With Specific Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 707 | $ 6,279 | 1,185 |
Recorded Investment | 707 | 5,338 | 1,185 |
Related Allowance | 97 | 785 | 110 |
Average Recorded Investment | 947 | 5,403 | 3,424 |
Interest Income Recognized in Period | 1 | 2 | 130 |
Cash Basis Interest Recognized in Period | 1 | 2 | 114 |
Loans Receivable With No Specific Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 1,422 | 1,370 | 1,221 |
Recorded Investment | 990 | 971 | 822 |
Average Recorded Investment | 906 | 995 | 1,180 |
Interest Income Recognized in Period | 3 | 7 | 59 |
Cash Basis Interest Recognized in Period | 3 | 7 | 50 |
Residential First Mortgages [Member] | Loans Receivable With Specific Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 78 | 170 | 169 |
Recorded Investment | 78 | 170 | 169 |
Related Allowance | 19 | 27 | 29 |
Average Recorded Investment | 124 | 170 | 170 |
Interest Income Recognized in Period | 1 | 2 | 6 |
Cash Basis Interest Recognized in Period | 1 | 2 | 6 |
Residential First Mortgages [Member] | Loans Receivable With No Specific Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 91 | 111 | 0 |
Recorded Investment | 58 | 111 | 0 |
Average Recorded Investment | 29 | 112 | 45 |
Interest Income Recognized in Period | 2 | 0 | 7 |
Cash Basis Interest Recognized in Period | 2 | 0 | 7 |
Home equity and lines of credit [Member] | Loans Receivable With Specific Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | 0 |
Recorded Investment | 0 | 0 | 0 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 0 | 0 | 0 |
Interest Income Recognized in Period | 0 | 0 | 0 |
Cash Basis Interest Recognized in Period | 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 |
Recorded Investment | 0 | 0 | 0 |
Average Recorded Investment | 0 | 0 | 0 |
Interest Income Recognized in Period | 0 | 0 | 0 |
Cash Basis Interest Recognized in Period | 0 | 0 | 0 |
Commercial real estate [Member] | Loans Receivable With Specific Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 3,550 | 93 |
Recorded Investment | 0 | 2,609 | 93 |
Related Allowance | 0 | 252 | 5 |
Average Recorded Investment | 47 | 2,642 | 1,613 |
Interest Income Recognized in Period | 0 | 0 | 12 |
Cash Basis Interest Recognized in Period | 0 | 0 | 9 |
Commercial real estate [Member] | Loans Receivable With No Specific Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 1,256 | 1,208 | 1,145 |
Recorded Investment | 857 | 809 | 746 |
Average Recorded Investment | 801 | 832 | 1,069 |
Interest Income Recognized in Period | 1 | 5 | 49 |
Cash Basis Interest Recognized in Period | 1 | 5 | 40 |
Commercial business [Member] | Loans Receivable With Specific Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 629 | 2,559 | 923 |
Recorded Investment | 629 | 2,559 | 923 |
Related Allowance | 78 | 506 | 76 |
Average Recorded Investment | 776 | 2,591 | 1,641 |
Interest Income Recognized in Period | 0 | 0 | 112 |
Cash Basis Interest Recognized in Period | 0 | 0 | 99 |
Commercial business [Member] | Loans Receivable With No Specific Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 75 | 51 | 76 |
Recorded Investment | 75 | 51 | 76 |
Average Recorded Investment | 76 | 51 | 66 |
Interest Income Recognized in Period | 0 | 2 | 3 |
Cash Basis Interest Recognized in Period | 0 | 2 | 3 |
Consumer [Member] | Loans Receivable With Specific Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | 0 |
Recorded Investment | 0 | 0 | 0 |
Related Allowance | 0 | 0 | 0 |
Average Recorded Investment | 0 | 0 | 0 |
Interest Income Recognized in Period | 0 | 0 | 0 |
Cash Basis Interest Recognized in Period | 0 | 0 | 0 |
Consumer [Member] | Loans Receivable With No Specific Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 0 | 0 | 0 |
Recorded Investment | 0 | 0 | 0 |
Average Recorded Investment | 0 | 0 | 0 |
Interest Income Recognized in Period | 0 | 0 | 0 |
Cash Basis Interest Recognized in Period | $ 0 | $ 0 | $ 0 |
Loans Receivable and Related 36
Loans Receivable and Related Allowance for Loan Losses (Details 2) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 439,176 | $ 435,096 |
Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 243,231 | 231,853 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 183,282 | 195,279 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 5,984 | 1,030 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 6,679 | 6,934 |
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 | 150,996 | 139,305 |
Residential first mortgages [Member] | Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 149,875 | 138,096 |
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 | 1,121 | 1,209 |
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 | 87,231 | 87,410 |
Home equity and lines of credit [Member] | Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 86,696 | 87,015 |
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 | 535 | 395 |
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 | 127,139 | 129,691 |
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 | 123,014 | 125,539 |
Commercial real estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 51 | 88 |
Commercial real estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 4,074 | 4,064 |
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 | 67,150 | 71,948 |
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 | 60,268 | 69,740 |
Commercial business [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 5,933 | 942 |
Commercial business [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 949 | 1,266 |
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 | 6,660 | 6,742 |
Consumer Loan [Member] | Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 6,660 | 6,742 |
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 | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | $ 434,505 | $ 430,512 |
Nonperforming, Nonaccrual | 3,161 | 3,069 |
Total Loans | 439,176 | 435,096 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 1,414 | 1,424 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 29 | 91 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 67 | 0 |
Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 148,824 | 136,924 |
Nonperforming, Nonaccrual | 1,121 | 1,209 |
Total Loans | 150,996 | 139,305 |
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 | 1,022 | 1,097 |
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 | 29 | 75 |
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 | 0 |
Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 86,493 | 86,691 |
Nonperforming, Nonaccrual | 479 | 395 |
Total Loans | 87,231 | 87,410 |
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 | 204 | 308 |
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 | 16 |
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 | 55 | 0 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 126,124 | 128,945 |
Nonperforming, Nonaccrual | 857 | 746 |
Total Loans | 127,139 | 129,691 |
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 | 146 | 0 |
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 | 0 |
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 | 12 | 0 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 66,432 | 71,229 |
Nonperforming, Nonaccrual | 704 | 719 |
Total Loans | 67,150 | 71,948 |
Commercial business [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 14 | 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 | 0 | 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 | 6,632 | 6,723 |
Nonperforming, Nonaccrual | 0 | 0 |
Total Loans | 6,660 | 6,742 |
Consumer [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 28 | 19 |
Consumer [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 0 | 0 |
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 | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 3,161 | $ 3,069 |
Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,121 | 1,209 |
Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 479 | 395 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 857 | 746 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 704 | 719 |
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 | 1,364 | 1,402 |
Not Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 75 | 75 |
Not Past Due [Member] | Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 13 | 14 |
Not Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 601 | 623 |
Not Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 675 | 690 |
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 | 78 | 0 |
30-59 Days Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 78 | 0 |
30-59 Days Past Due [Member] | Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 0 |
30-59 Days Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 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 | 0 | 79 |
60-89 Days Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 79 |
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 | 0 |
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 | 1,719 | 1,588 |
90 Days + Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 968 | 1,055 |
90 Days + Past Due [Member] | Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 466 | 381 |
90 Days + Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 256 | 123 |
90 Days + Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 29 | 29 |
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 | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | $ 5,205 | $ 5,224 | ||
Charge-offs | (42) | (90) | ||
Recoveries | 8 | 37 | ||
Provision | 181 | 169 | ||
Ending Balance | 5,352 | 5,340 | ||
Ending ALL balance attributable to loans: | ||||
Individually evaluated for impairment | $ 97 | $ 110 | ||
Collectively evaluated for impairment | 5,255 | 5,095 | ||
Total | 5,352 | 5,224 | 5,352 | 5,205 |
Total loans: | ||||
Individually evaluated for impairment | 1,697 | 2,007 | ||
Collectively evaluated for impairment | 437,479 | 433,089 | ||
Total | 439,176 | 435,096 | ||
Residential first mortgages [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 1,429 | 955 | ||
Charge-offs | (33) | (4) | ||
Recoveries | 0 | 0 | ||
Provision | 181 | 137 | ||
Ending Balance | 1,577 | 1,088 | ||
Ending ALL balance attributable to loans: | ||||
Individually evaluated for impairment | 19 | 29 | ||
Collectively evaluated for impairment | 1,558 | 1,400 | ||
Total | 1,577 | 955 | 1,577 | 1,429 |
Total loans: | ||||
Individually evaluated for impairment | 136 | 169 | ||
Collectively evaluated for impairment | 150,860 | 139,136 | ||
Total | 150,996 | 139,305 | ||
Home equity and lines of credit [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 586 | 543 | ||
Charge-offs | 0 | (64) | ||
Recoveries | 1 | 4 | ||
Provision | 49 | 128 | ||
Ending Balance | 636 | 611 | ||
Ending ALL balance attributable to loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 636 | 586 | ||
Total | 636 | 543 | 636 | 586 |
Total loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 87,231 | 87,410 | ||
Total | 87,231 | 87,410 | ||
Commercial real estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 2,185 | 2,338 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 4 | 5 | ||
Provision | (263) | (110) | ||
Ending Balance | 1,926 | 2,233 | ||
Ending ALL balance attributable to loans: | ||||
Individually evaluated for impairment | 0 | 5 | ||
Collectively evaluated for impairment | 1,926 | 2,180 | ||
Total | 1,926 | 2,338 | 1,926 | 2,185 |
Total loans: | ||||
Individually evaluated for impairment | 857 | 839 | ||
Collectively evaluated for impairment | 126,282 | 128,852 | ||
Total | 127,139 | 129,691 | ||
Commercial business [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 960 | 1,336 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 20 | ||
Provision | 202 | 4 | ||
Ending Balance | 1,162 | 1,360 | ||
Ending ALL balance attributable to loans: | ||||
Individually evaluated for impairment | 78 | 76 | ||
Collectively evaluated for impairment | 1,084 | 884 | ||
Total | 1,162 | 1,336 | 1,162 | 960 |
Total loans: | ||||
Individually evaluated for impairment | 704 | 999 | ||
Collectively evaluated for impairment | 66,446 | 70,949 | ||
Total | 67,150 | 71,948 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 45 | 52 | ||
Charge-offs | (9) | (22) | ||
Recoveries | 3 | 8 | ||
Provision | 12 | 10 | ||
Ending Balance | 51 | 48 | ||
Ending ALL balance attributable to loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 51 | 45 | ||
Total | $ 51 | $ 52 | 51 | 45 |
Total loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 6,660 | 6,742 | ||
Total | $ 6,660 | $ 6,742 |
Loans Receivable and Related 40
Loans Receivable and Related Allowance for Loan Losses (Details Textual) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 414,000 | $ 835,000 |
Allowance For Losses Allocated To Loans Classified As Tdrs | 19,000 | 63,000 |
Deferred Finance Costs, Net | $ 1,200,000 | $ 835,000 |
Goodwill and Intangible Asset41
Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill, Gross Carrying Amount | $ 3,664 | $ 3,664 |
Core deposit intangibles, Gross Carrying Amount | 4,027 | 4,027 |
Total, Gross Carrying Amount | 7,691 | 7,691 |
Goodwill, Accumulated Amortization | 0 | 0 |
Core deposit intangibles, Accumulated Amortization | 3,522 | 3,473 |
Total, Accumulated Amortization | $ 3,522 | $ 3,473 |
Goodwill and Intangible Asset42
Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Intangible asset amortization | $ 49 | $ 49 |
Stock Compensation Plans (Detai
Stock Compensation Plans (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Options - Outstanding, Beginning Balance (in shares) | 73,000 | |
Options - Granted (in shares) | 0 | |
Options - Exercised (in shares) | 0 | |
Options - Forfeited (in shares) | 0 | |
Options - Outstanding, Ending Balance (in shares) | 73,000 | 73,000 |
Options - Exercisable (in shares) | 73,000 | |
Weighted-Average Exercise Price - Outstanding, Beginning Balance (in dollars per share) | $ 25.71 | |
Weighted-Average Exercise Price - Granted (in dollars per share) | 0 | |
Weighted-Average Exercise Price - Exercised (in dollars per share) | 0 | |
Weighted-Average Exercise Price - Forfeited (in dollars per share) | 0 | |
Weighted-Average Exercise Price - Outstanding, Ending Balance (in dollars per share) | 25.71 | $ 25.71 |
Weighted-Average Exercise Price - Exercisable (in dollars per share) | $ 25.71 | |
Aggregate Intrinsic Value - Outstanding, Beginning Balance | $ 9,000 | |
Aggregate Intrinsic Value - Granted | 0 | |
Aggregate Intrinsic Value - Exercised | 0 | |
Aggregate Intrinsic Value - Forfeited | 0 | |
Aggregate Intrinsic Value - Outstanding, Ending Balance | 15,000 | $ 9,000 |
Aggregate Intrinsic Value - Exercisable | $ 15,000 | |
Weighted-Average Remaining Term - Outstanding (in years) | 1 year 3 months 18 days | 1 year 7 months 6 days |
Weighted-Average Remaining Term - Granted (in years) | 0 years | |
Weighted-Average Remaining Term - Exercised (in years) | 0 years | |
Weighted-Average Remaining Term - Forfeited (in years) | 0 years | |
Weighted-Average Remaining Term - Exercisable (in years) | 1 year 3 months 18 days |
Stock Compensation Plans (Det44
Stock Compensation Plans (Details 1) - Restricted Stock [Member] | 3 Months Ended |
Mar. 31, 2016$ / sharesshares | |
Nonvested, options, Beginning Balance (in shares) | shares | 23,450 |
Granted, options (in shares) | shares | 0 |
Vested, opitons (in shares) | shares | 0 |
Forfeited, options (in shares) | shares | 0 |
Nonvested, options, Ending Balance (in shares) | shares | 23,450 |
Nonvested, Weighted-Average Grant-date Fair Value, Beginning Balance (in dollars per share) | $ / shares | $ 24.38 |
Granted, Weighted-Average Grant-date Fair Value (in dollars per share) | $ / shares | 0 |
Vested, Weighted-Average Grant-date Fair Value (in dollars per share) | $ / shares | 0 |
Forfeited, Weighted-Average Grant-date Fair Value (in dollars per share) | $ / shares | 0 |
Nonvested, Weighted-Average Grant-date Fair Value, Ending Balance (in dollars per share) | $ / shares | $ 24.38 |
Stock Compensation Plans (Det45
Stock Compensation Plans (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 344,000 | |
Allocated Share-based Compensation Expense | $ 46,000 | $ 53,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 9 months 18 days | |
2014 Stock Incentive Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 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 | 75,483 | |
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 | |
2007 Stock Incentive Plan and Trust [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 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 | 1,313 | |
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 |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | $ 112,469 | $ 112,981 |
U.S. Treasury and federal agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 1,500 | 1,466 |
U.S. government sponsored entities and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 10,397 | 8,953 |
U.S. agency mortgage-backed securities: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 32,699 | 33,150 |
U.S. agency collateralized mortgage obligations: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 29,184 | 31,440 |
State and political subdivision [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 28,774 | 28,591 |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 8,038 | 7,487 |
Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 1,877 | 1,894 |
Fair Value, Inputs, Level 1 [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 3,303 | 3,286 |
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 | 1,500 | 1,466 |
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 | 1,803 | 1,820 |
Fair Value, Inputs, Level 2 [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 109,092 | 109,621 |
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 | 10,397 | 8,953 |
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 | 32,699 | 33,150 |
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 | 29,184 | 31,440 |
Fair Value, Inputs, Level 2 [Member] | State and political subdivision [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 28,774 | 28,591 |
Fair Value, Inputs, Level 2 [Member] | Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 8,038 | 7,487 |
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 | 74 | 74 |
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 | $ 74 | $ 74 |
Fair Value (Details 1)
Fair Value (Details 1) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Balance at the beginning of the period | $ 74 | $ 898 |
Total gains or losses (realized/unrealized): | ||
Included in earnings | 0 | 0 |
Included in other comprehensive income | 0 | (70) |
Issuances | 0 | 0 |
Transfers in and/or out of Level 3 | 0 | 0 |
Balance at the end of the period | $ 74 | $ 828 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 609 | |
Fair Value, Inputs, Level 1 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 609 | |
Impaired commercial business loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 551 | 596 |
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 | $ 551 | 596 |
Other residential real estate owned [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 13 | |
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 | $ 13 |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 609 | |
Fair Value, Inputs, Level 3 [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 609 | |
Fair Value, Inputs, Level 3 [Member] | Impaired commercial business loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 551 | $ 596 |
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, Interest Rate | 66.00% | 65.00% |
Fair Value, Inputs, Level 3 [Member] | Other residential real estate owned [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 13 | |
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 | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Financial Assets: | ||||
Cash and cash equivalents - Carrying Amount | $ 16,902 | $ 11,546 | $ 22,274 | $ 11,856 |
Securities available for sale - Carrying Amount | 112,469 | 112,981 | ||
Loans, net - Carrying Amount | 433,824 | 429,891 | ||
Federal bank stock - Carrying Amount | 3,049 | 4,240 | ||
Accrued interest receivable - Carrying Amount | 1,712 | 1,501 | ||
Financial Assets - Carrying Amount, Total | 607,607 | 600,595 | ||
Financial Liabilities: | ||||
Deposits - Carrying Amount | 510,679 | 489,887 | ||
Borrowed funds - Carrying Amount | 35,000 | 49,250 | ||
Accrued interest payable - Carrying Amount | 220 | 179 | ||
Financial Liabilities - Carrying Amount, Total | 553,600 | 547,756 | ||
Financial Assets: | ||||
Cash and cash equivalents - Fair Value | 16,902 | 11,546 | ||
Securities available for sale - Fair Value | 112,469 | 112,981 | ||
Loans, net - Fair Value | 439,573 | 436,009 | ||
Federal bank stock - Fair Value | 0 | 0 | ||
Accrued interest receivable - Fair Value | 1,712 | 1,501 | ||
Financial Assets - Fair Value, Total | 570,656 | 562,037 | ||
Financial Liabilities: | ||||
Deposits - Fair Value | 512,657 | 491,781 | ||
Borrowed funds - Fair Value | 36,964 | 50,636 | ||
Accrued interest payable - Fair Value | 220 | 179 | ||
Financial Liabilities - Fair Value, Total | 549,841 | 542,596 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial Assets: | ||||
Securities available for sale - Carrying Amount | 3,303 | 3,286 | ||
Financial Assets: | ||||
Cash and cash equivalents - Fair Value | 16,902 | 11,546 | ||
Securities available for sale - Fair Value | 3,303 | 3,286 | ||
Loans, net - Fair Value | 0 | 0 | ||
Federal bank stock - Fair Value | 0 | 0 | ||
Accrued interest receivable - Fair Value | 46 | 64 | ||
Financial Assets - Fair Value, Total | 20,251 | 14,896 | ||
Financial Liabilities: | ||||
Deposits - Fair Value | 388,116 | 376,409 | ||
Borrowed funds - Fair Value | 0 | 0 | ||
Accrued interest payable - Fair Value | 5 | 5 | ||
Financial Liabilities - Fair Value, Total | 388,121 | 376,414 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial Assets: | ||||
Securities available for sale - Carrying Amount | 109,092 | 109,621 | ||
Financial Assets: | ||||
Cash and cash equivalents - Fair Value | 0 | 0 | ||
Securities available for sale - Fair Value | 109,092 | 109,621 | ||
Loans, net - Fair Value | 0 | 0 | ||
Federal bank stock - Fair Value | 0 | 0 | ||
Accrued interest receivable - Fair Value | 404 | 299 | ||
Financial Assets - Fair Value, Total | 109,496 | 109,920 | ||
Financial Liabilities: | ||||
Deposits - Fair Value | 124,541 | 115,372 | ||
Borrowed funds - Fair Value | 36,964 | 50,636 | ||
Accrued interest payable - Fair Value | 215 | 174 | ||
Financial Liabilities - Fair Value, Total | 161,720 | 166,182 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial Assets: | ||||
Securities available for sale - Carrying Amount | 74 | 74 | ||
Financial Assets: | ||||
Cash and cash equivalents - Fair Value | 0 | 0 | ||
Securities available for sale - Fair Value | 74 | 74 | ||
Loans, net - Fair Value | 439,573 | 436,009 | ||
Federal bank stock - Fair Value | 0 | 0 | ||
Accrued interest receivable - Fair Value | 1,262 | 1,138 | ||
Financial Assets - Fair Value, Total | 440,909 | 437,221 | ||
Financial Liabilities: | ||||
Deposits - Fair Value | 0 | 0 | ||
Borrowed funds - 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) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Fair Values Of Financial Instruments [Line Items] | ||
Impaired Financing Receivable, Recorded Investment, Total | $ 629,000 | $ 643,000 |
Impaired Financing Receivable, Related Allowance | 78,000 | 47,000 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | 13,000 | |
SEC Schedule III, Real Estate, Gross, Total | $ 22,000 | |
Commercial Real Estate Loan Discounting Rate | 10.00% | |
SEC Schedule III, Real Estate, Write-down or Reserve, Amount | $ 9,000 | 3,000 |
Financing Receivable, Modifications, Recorded Investment | $ 414,000 | 835,000 |
Two Impaired Commercial Real Estate Loan [Member] | ||
Fair Values Of Financial Instruments [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 89,000 | |
Impaired Residential Mortgage Loan Two [Member] | ||
Fair Values Of Financial Instruments [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 140,000 | |
Commercial Business Loan [Member] | ||
Fair Values Of Financial Instruments [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 250,000 |
Accumulated Other Comprehensi52
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss), Unrealized Gains and Losses on Available-for-Sale Securities, Beginning Balance | $ (248) | $ 198 |
Other comprehensive income before reclassification, Unrealized Gains and Losses on Available-for-Sale Securities | 879 | 685 |
Amounts reclassified from accumulated other comprehensive income (loss), Unrealized Gains and Losses on Available-for-Sale Securities | (1) | 0 |
Net current period other comprehensive income, Unrealized Gains and Losses on Available-for-Sale Securities | 878 | 685 |
Accumulated Other Comprehensive Income (Loss), Unrealized Gains and Losses on Available-for-Sale Securities, Ending Balance | 630 | 883 |
Accumulated Other Comprehensive Income (Loss), Defined Benefit Pension Items, Beginning Balance | (3,514) | (3,196) |
Other comprehensive income before reclassification, Defined Benefit Pension Items | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income (loss), Defined Benefit Pension Items | 0 | 0 |
Net current period other comprehensive income, Defined Benefit Pension Items | 0 | 0 |
Accumulated Other Comprehensive Income (Loss), Defined Benefit Pension Items, Ending Balance | (3,514) | (3,196) |
Accumulated Other Comprehensive Income (Loss), Totals, Beginning Balance | (3,762) | (2,998) |
Other comprehensive income before reclassification, Totals | 879 | 685 |
Amounts reclassified from accumulated other comprehensive income (loss), Totals | (1) | 0 |
Net current period other comprehensive income, Totals | 878 | 685 |
Accumulated Other Comprehensive Income (Loss), Totals, Ending Balance | $ (2,884) | $ (2,313) |
Accumulated Other Comprehensi53
Accumulated Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Unrealized gains and losses on available-for-sale securities | ||
Total reclassifications for the period | $ (1) | $ 0 |
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 | 2 | |
Provision for income taxes | (1) | |
Total reclassifications for the period | $ 1 |
Subsequent Events (Details Text
Subsequent Events (Details Textual) $ / shares in Units, $ in Millions | Dec. 31, 2015USD ($)$ / shares |
Subsequent Event [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | $ 89.3 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $ 14.1 |
Business Acquisition, Share Price | $ / shares | $ 42.67 |