Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Aug. 12, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
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 | Jun. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 3,015 | $ 2,359 |
Interest earning deposits with banks | 35,546 | 9,187 |
Cash and cash equivalents | 38,561 | 11,546 |
Securities available for sale | 106,145 | 112,981 |
Loans receivable, net of allowance for loan losses of $5,431 and $5,205 | 498,724 | 429,891 |
Federal bank stocks, at cost | 3,764 | 4,240 |
Bank-owned life insurance | 11,221 | 11,056 |
Accrued interest receivable | 1,837 | 1,501 |
Premises and equipment, net | 17,125 | 16,114 |
Goodwill | 10,291 | 3,664 |
Core deposit intangible, net | 681 | 554 |
Prepaid expenses and other assets | 9,276 | 9,048 |
Total Assets | 697,625 | 600,595 |
Deposits: | ||
Non-interest bearing | 122,793 | 119,790 |
Interest bearing | 474,093 | 370,097 |
Total deposits | 596,886 | 489,887 |
Short-term borrowed funds | 2,500 | 14,250 |
Long-term borrowed funds | 35,000 | 35,000 |
Accrued interest payable | 254 | 179 |
Accrued expenses and other liabilities | 8,134 | 8,440 |
Total Liabilities | 642,774 | 547,756 |
Commitments and Contingent Liabilities | ||
Stockholders' Equity: | ||
Common stock, $1.25 par value, 12,000,000 shares authorized; 2,248,325 and 2,246,825 shares issued; 2,146,308 and 2,144,808 shares outstanding, respectively | 2,810 | 2,808 |
Additional paid-in capital | 27,809 | 27,701 |
Treasury stock, at cost; 102,017 shares | (2,114) | (2,114) |
Retained earnings | 28,822 | 28,206 |
Accumulated other comprehensive loss | (2,476) | (3,762) |
Total Stockholders' Equity | 54,851 | 52,839 |
Total Liabilities and Stockholders' Equity | $ 697,625 | $ 600,595 |
Consolidated Balance Sheets _Pa
Consolidated Balance Sheets [Parenthetical] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Allowance for loan losses (in dollars) | $ 5,431 | $ 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 | 2,248,325 | 2,246,825 |
Common stock, shares outstanding | 2,146,308 | 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 | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest and dividend income: | ||||
Loans receivable, including fees | $ 5,185 | $ 4,470 | $ 9,887 | $ 8,670 |
Securities: | ||||
Taxable | 441 | 520 | 874 | 1,045 |
Exempt from federal income tax | 156 | 214 | 316 | 435 |
Federal bank stocks | 52 | 29 | 87 | 102 |
Interest earning deposits with banks | 43 | 19 | 62 | 34 |
Total interest and dividend income | 5,877 | 5,252 | 11,226 | 10,286 |
Interest expense: | ||||
Deposits | 721 | 535 | 1,309 | 1,082 |
Borrowed funds | 296 | 177 | 540 | 359 |
Total interest expense | 1,017 | 712 | 1,849 | 1,441 |
Net interest income | 4,860 | 4,540 | 9,377 | 8,845 |
Provision for loan losses | 121 | 203 | 302 | 371 |
Net interest income after provision for loan losses | 4,739 | 4,337 | 9,075 | 8,474 |
Noninterest income: | ||||
Fees and service charges | 386 | 378 | 731 | 726 |
Commissions on financial services | 0 | 5 | 1 | 10 |
Title premiums | 8 | 6 | 19 | 17 |
Net gain on sales of available for sale securities | 81 | 34 | 83 | 34 |
Earnings on bank-owned life insurance | 100 | 97 | 198 | 194 |
Other | 367 | 328 | 690 | 646 |
Total noninterest income | 942 | 848 | 1,722 | 1,627 |
Noninterest expense: | ||||
Compensation and employee benefits | 2,177 | 2,050 | 4,225 | 4,118 |
Premises and equipment | 692 | 655 | 1,378 | 1,324 |
Intangible asset amortization | 56 | 49 | 105 | 98 |
Professional fees | 190 | 178 | 373 | 380 |
Federal deposit insurance | 89 | 98 | 182 | 195 |
Acquisition costs | 92 | 0 | 401 | 0 |
Other | 1,168 | 981 | 1,818 | 1,861 |
Total noninterest expense | 4,464 | 4,011 | 8,482 | 7,976 |
Income before provision for income taxes | 1,217 | 1,174 | 2,315 | 2,125 |
Provision for income taxes | 287 | 247 | 583 | 417 |
Net income | 930 | 927 | 1,732 | 1,708 |
Preferred stock dividends | 0 | 25 | 0 | 50 |
Net income available to common stockholders | $ 930 | $ 902 | $ 1,732 | $ 1,658 |
Basic earnings per common share (in dollars per share) | $ 0.43 | $ 0.48 | $ 0.81 | $ 0.91 |
Diluted earnings per common share (in dollars per share) | $ 0.43 | $ 0.48 | $ 0.8 | $ 0.9 |
Average common shares outstanding - basic (in shares) | 2,146,160 | 1,864,298 | 2,145,484 | 1,823,086 |
Average common shares outstanding - diluted (in shares) | 2,156,378 | 1,876,260 | 2,154,708 | 1,834,387 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net income | $ 930 | $ 927 | $ 1,732 | $ 1,708 |
Unrealized gains/(losses) on securities: | ||||
Unrealized holding gain/(loss) arising during the period | 699 | (1,256) | 2,030 | (218) |
Reclassification adjustment for gains included in net income | (81) | (34) | (83) | (34) |
Other Comprehensive Income Total | 618 | (1,290) | 1,947 | (252) |
Tax effect | (210) | 439 | (662) | 86 |
Net of tax | 408 | (851) | 1,285 | (166) |
Comprehensive income | $ 1,338 | $ 76 | $ 3,017 | $ 1,542 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Cash flows from operating activities | ||
Net income | $ 1,732 | $ 1,708 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 550 | 500 |
Provision for loan losses | 302 | 371 |
Amortization of premiums, net | 176 | 166 |
Amortization of intangible assets and mortgage servicing rights | 115 | 98 |
Realized gains on sales of available for sale securities, net | (83) | (34) |
Net gains on foreclosed real estate | (10) | (18) |
Write-down of foreclosed real estate | 0 | 6 |
Stock compensation expense | 111 | 108 |
Increase in bank-owned life insurance, net | (165) | (162) |
Increase in accrued interest receivable | (102) | (5) |
(Increase) decrease in prepaid expenses and other assets | 75 | (2,997) |
Increase (decrease) in accrued interest payable | 46 | (12) |
Decrease in accrued expenses and other liabilities | (702) | (237) |
Net cash provided by (used in) operating activities | 2,045 | (508) |
Cash flows from investing activities | ||
Loan originations and principal collections, net | 3,604 | 864 |
Purchase of residential mortgage loans | (6,911) | (14,647) |
Settlement of syndicated national credits | 0 | (7,039) |
Available for sale securities: | ||
Sales | 6,118 | 1,791 |
Maturities, repayments and calls | 11,060 | 12,701 |
Purchases | (8,258) | (11,555) |
Net cash paid for acquisition | (3,309) | 0 |
Redemption (purchase) of federal bank stocks | 1,454 | (106) |
Proceeds from the sale of foreclosed real estate | 171 | 102 |
Purchases of premises and equipment | (392) | (404) |
Net cash provided by (used in) investing activities | 3,537 | (18,293) |
Cash flows from financing activities | ||
Net increase in deposits | 34,299 | 10,593 |
Repayments on Federal Home Loan Bank advances | (5,000) | 0 |
Proceeds from other long-term debt | 5,000 | 0 |
Net change in short-term borrowings | (11,750) | 1,000 |
Proceeds from exercise of stock options, including tax benefit | 0 | 4 |
Dividends paid | (1,116) | (905) |
Proceeds from the issuance of common stock | 0 | 8,162 |
Net cash provided by financing activities | 21,433 | 18,854 |
Increase in cash and cash equivalents | 27,015 | 53 |
Cash and cash equivalents at beginning of period | 11,546 | 11,856 |
Cash and cash equivalents at end of period | 38,561 | 11,909 |
Supplemental information: | ||
Interest paid | 942 | 1,453 |
Income taxes paid | 0 | 525 |
Supplemental noncash disclosure: | ||
Transfers from loans to foreclosed real estate | $ 147 | $ 263 |
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 | 1,708 |
Other comprehensive income (loss) | (166) |
Stock compensation expense | 108 |
Dividends declared on preferred stock | (50) |
Dividends declared on common stock | (855) |
Exercise of stock options, including tax benefit | 4 |
Issuance of common stock (350,000 shares) | 8,162 |
Balance at end of period at Jun. 30, 2015 | $ 56,901 |
Cash dividend per common share | $ / shares | $ 0.48 |
Balance at beginning of period at Mar. 31, 2015 | $ 49,061 |
Net income | 927 |
Other comprehensive income (loss) | (851) |
Stock compensation expense | 55 |
Dividends declared on preferred stock | (25) |
Dividends declared on common stock | (428) |
Exercise of stock options, including tax benefit | 0 |
Issuance of common stock (350,000 shares) | 8,162 |
Balance at end of period at Jun. 30, 2015 | $ 56,901 |
Cash dividend per common share | $ / shares | $ 0.24 |
Balance at beginning of period at Dec. 31, 2015 | $ 52,839 |
Net income | 1,732 |
Other comprehensive income (loss) | 1,285 |
Stock compensation expense | 111 |
Dividends declared on preferred stock | 0 |
Dividends declared on common stock | (1,116) |
Exercise of stock options, including tax benefit | 0 |
Issuance of common stock (350,000 shares) | 0 |
Balance at end of period at Jun. 30, 2016 | $ 54,851 |
Cash dividend per common share | $ / shares | $ 0.52 |
Balance at beginning of period at Mar. 31, 2016 | $ 54,007 |
Net income | 930 |
Other comprehensive income (loss) | 408 |
Stock compensation expense | 64 |
Dividends declared on preferred stock | 0 |
Dividends declared on common stock | (558) |
Exercise of stock options, including tax benefit | 0 |
Issuance of common stock (350,000 shares) | 0 |
Balance at end of period at Jun. 30, 2016 | $ 54,851 |
Cash dividend per common share | $ / shares | $ 0.26 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Stockholders' Equity [Parenthetical] - shares | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2016 | Jun. 30, 2015 | |
Stock Issued During Period, Shares, New Issues | 350,000 | 350,000 | 350,000 |
Nature of Operations and Basis
Nature of Operations and Basis of Presentation | 6 Months Ended |
Jun. 30, 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. |
Mergers and Acquisitions
Mergers and Acquisitions | 6 Months Ended |
Jun. 30, 2016 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | 2. Mergers and Acquisitions 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 The Farmers National Bank of Emlenton being the surviving bank. At December 31, 2015, United American had reported assets of $ 89.3 13.2 42.67 The acquisition expanded the Corporation’s franchise into contiguous markets and increased the Corporation’s consolidated total assets, loans and deposits. The assets and liabilities of United American were recorded on the Corporation’s consolidated balance sheet at their estimated fair value as of April 30, 2016, and their results of operations have been included in the consolidated income statement since such date. Included in the purchase price was goodwill and a core deposit intangible of $ 6.6 232,000 31,000 40,000 32,000 26,000 20,000 83,000 While the Corporation believes that the accounting for the acquisition is complete, accounting guidance allows for adjustments to goodwill for a period of up to one year after the acquisition date for information that becomes available that reflects circumstances at the acquisition date. (Dollar amounts in thousands) Assets acquired: Cash and cash equivalents $ 9,899 Securities available for sale 60 Loans receivable 66,145 Federal bank stocks 978 Accrued interest receivable 234 Premises and equipment 1,169 Goodwill 6,626 Core deposit intangible 232 Prepaid expenses and other assets 989 Total assets acquired 86,332 Liabilities assumed: Deposits 72,700 Accrued interest payable 29 Accrued expenses and other liabilities 395 Total liabilities assumed 73,124 Consideration paid $ 13,208 The fair value of loans was determined using discounted cash flows. The book balance of the loans at the time of the acquisition was $ 66.1 (927,000) 982,000 Costs related to the acquisition totaled $ 92,000 50,000 32,000 10,000 401,000 194,000 132,000 75,000 |
Issuance of Common Stock
Issuance of Common Stock | 6 Months Ended |
Jun. 30, 2016 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | 3. Issuance of Common Stock On June 10, 2015, the Corporation sold 350,000 1.25 23.50 8.2 63,000 |
Participation in the Small Busi
Participation in the Small Business Lending Fund (SBLF) of the U.S. Treasury Department (U.S. Treasury) | 6 Months Ended |
Jun. 30, 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] | 4. 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 | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 5. Earnings per Common Share (Dollar amounts in thousands, except for per share amounts) For the three months ended For the six months ended June 30, June 30, 2016 2015 2016 2015 Earnings per common share - basic Net income $ 930 $ 927 $ 1,732 $ 1,708 Less: Preferred stock dividends - 25 - 50 Net income available to common stockholders $ 930 $ 902 $ 1,732 $ 1,658 Average common shares outstanding 2,146,160 1,864,298 2,145,484 1,823,086 Basic earnings per common share $ 0.43 $ 0.48 $ 0.81 $ 0.91 Earnings per common share - diluted Net income available to common stockholders $ 930 $ 902 $ 1,732 $ 1,658 Average common shares outstanding 2,146,160 1,864,298 2,145,484 1,823,086 Add: Dilutive effects of assumed issuance of restricted stock and exercise of stock options 10,218 11,962 9,224 11,301 Average shares and dilutive potential common shares 2,156,378 1,876,260 2,154,708 1,834,387 Diluted earnings per common share $ 0.43 $ 0.48 $ 0.80 $ 0.90 Stock options not considered in computing earnings per share because they were antidilutive 67,000 67,000 67,000 67,000 |
Securities
Securities | 6 Months Ended |
Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities [Text Block] | 6. Securities The following table summarizes the Corporation’s securities as of June 30, 2016 and December 31, 2015: Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value Available for sale: June 30, 2016: U.S. Treasury and federal agency $ 1,493 $ 19 $ - $ 1,512 U.S. government sponsored entities and agencies 8,401 7 (1) 8,407 U.S. agency mortgage-backed securities: residential 28,542 962 - 29,504 U.S. agency collateralized mortgage obligations: residential 28,321 50 (260) 28,111 State and political subdivisions 27,972 532 - 28,504 Corporate debt securities 8,014 44 - 8,058 Equity securities 1,829 238 (18) 2,049 $ 104,572 $ 1,852 $ (279) $ 106,145 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 Available for sale Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 1,711 $ 1,716 Due after one year through five years 16,342 16,480 Due after five through ten years 27,088 27,532 Due after ten years 739 753 Mortgage-backed securities: residential 28,542 29,504 Collateralized mortgage obligations: residential 28,321 28,111 $ 102,743 $ 104,096 (Dollar amounts in thousands) Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Loss Value Loss Value Loss June 30, 2016: U.S. government sponsored entities and agencies $ 1,000 $ (1) $ - $ - $ 1,000 $ (1) U.S. agency collateralized mortgage obligations: residential 2,218 (65) 13,241 (195) 15,459 (260) Equity securities 232 (18) - - 232 (18) $ 3,450 $ (84) $ 13,241 $ (195) $ 16,691 $ (279) 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) For the three months For the six months (Dollar amounts in thousands) ended June 30, ended June 30, 2016 2015 2016 2015 Proceeds $ 2,439 $ 1,791 $ 6,118 $ 1,791 Gains 81 34 83 34 Tax provision related to gains 28 12 28 12 Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic, market or other conditions warrant such evaluation. Consideration is given to: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions and (4) whether the Corporation has the intent to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis. If the Corporation intends to sell an impaired security, or if it is more likely than not the Corporation will be required to sell the security before its anticipated recovery, the Corporation records an other-than-temporary loss in an amount equal to the entire difference between fair value and amortized cost. Otherwise, only the credit portion of the estimated loss on debt securities is recognized in earnings, with the other portion of the loss recognized in other comprehensive income. For equity securities determined to be other-than-temporarily impaired, the entire amount of impairment is recognized through earnings. There was one equity security in an unrealized loss position for less than 12 months as of June 30, 2016. Equity securities owned by the Corporation consist of common stock of various financial service providers. The investment security is 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 this security before the recovery of its amortized cost basis, the Corporation does not consider the equity security with an unrealized loss as of June 30, 2016 to be other-than-temporarily impaired. There were 14 debt securities in an unrealized loss position as of June 30, 2016, of which 11 were in an unrealized loss position for more than 12 months. Of these 14 securities, 13 were government-backed collateralized mortgage obligations and 1 was a U.S. government sponsored entity and agency security. The unrealized losses associated with these securities were not due to the deterioration in the credit quality of the issuer that would likely result in the non-collection of contractual principal and interest, but rather have been caused by a rise in interest rates from the time the securities were purchased. Based on that evaluation and other general considerations, and given that the Corporation’s current intention is not to sell any impaired securities and it is more likely than not it will not be required to sell these securities before the recovery of its amortized cost basis, the Corporation does not consider the debt securities with unrealized losses as of June 30, 2016 to be other-than-temporarily impaired. |
Loans Receivable and Related Al
Loans Receivable and Related Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2016 | |
Loans Notes Trade and Other Receivables Disclosure [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 7. Loans Receivable and Related Allowance for Loan Losses (Dollar amounts in thousands) June 30, December 31, 2016 2015 Mortgage loans on real estate: Residential first mortgages $ 184,414 $ 139,305 Home equity loans and lines of credit 91,604 87,410 Commercial real estate 154,890 129,691 430,908 356,406 Other loans: Commercial business 66,197 71,948 Consumer 7,050 6,742 73,247 78,690 Total loans, gross 504,155 435,096 Less allowance for loan losses 5,431 5,205 Total loans, net $ 498,724 $ 429,891 Included in total loans above are net deferred costs of $ 1.2 835,000 An allowance for loan losses (ALL) is maintained to absorb probable incurred losses from the loan portfolio. The ALL is based on management’s continuing evaluation of the risk characteristics and credit quality of the loan portfolio, assessment of current economic conditions, diversification and size of the portfolio, adequacy of collateral, past and anticipated loss experience and the amount of nonperforming loans. Management reviews the loan portfolio on a quarterly basis using a defined, consistently applied process in order to make appropriate and timely adjustments to the ALL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALL. (Dollar amounts in thousands) Home Equity Residential & Lines Commercial Commercial Mortgages of Credit Real Estate Business Consumer Total Three months ended June 30, 2016: Allowance for loan losses: Beginning Balance $ 1,577 $ 636 $ 1,926 $ 1,162 $ 51 $ 5,352 Charge-offs (8) (33) - - (6) (47) Recoveries - 1 3 - 1 5 Provision 127 41 189 (242) 6 121 Ending Balance $ 1,696 $ 645 $ 2,118 $ 920 $ 52 $ 5,431 Six months ended June 30, 2016: Allowance for loan losses: Beginning Balance $ 1,429 $ 586 $ 2,185 $ 960 $ 45 $ 5,205 Charge-offs (40) (33) - - (15) (88) Recoveries - 1 7 - 4 12 Provision 307 91 (74) (40) 18 302 Ending Balance $ 1,696 $ 645 $ 2,118 $ 920 $ 52 $ 5,431 At June 30, 2016: Ending ALL balance attributable to loans: Individually evaluated for impairment $ 19 $ - $ - $ - $ - $ 19 Collectively evaluated for impairment 1,677 645 2,118 920 52 5,412 Total $ 1,696 $ 645 $ 2,118 $ 920 $ 52 $ 5,431 Total loans: Individually evaluated for impairment $ 136 $ - $ 823 $ 690 $ - $ 1,649 Acquired loans 29,818 6,266 30,386 1,505 300 68,275 Collectively evaluated for impairment 154,460 85,338 123,681 64,002 6,750 434,231 Total $ 184,414 $ 91,604 $ 154,890 $ 66,197 $ 7,050 $ 504,155 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 Three months ended June 30, 2015: Allowance for loan losses: Beginning Balance $ 1,088 $ 611 $ 2,233 $ 1,360 $ 48 $ 5,340 Charge-offs - (22) - (182) (6) (210) Recoveries - 25 6 - 6 37 Provision 170 8 (78) 104 (1) 203 Ending Balance $ 1,258 $ 622 $ 2,161 $ 1,282 $ 47 $ 5,370 Six months ended June 30, 2015: Allowance for loan losses: Beginning Balance $ 955 $ 543 $ 2,338 $ 1,336 $ 52 $ 5,224 Charge-offs (4) (85) - (182) (29) (300) Recoveries - 30 12 20 13 75 Provision 307 134 (189) 108 11 371 Ending Balance $ 1,258 $ 622 $ 2,161 $ 1,282 $ 47 $ 5,370 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. At June 30, 2016, there was no allowance for loan losses allocated to loans acquired in the April 2016 merger with United American. (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months As of June 30, 2016 ended June 30, 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 $ 78 $ 1 $ 1 Home equity and lines of credit - - - - - - Commercial real estate - - - - - - Commercial business - - - 315 - - Consumer - - - - - - Total $ 78 $ 78 $ 19 $ 393 $ 1 $ 1 For the six months ended June 30, 2016 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first\ mortgages $ 109 $ 2 $ 2 Home equity and lines of credit - - - Commercial real estate 31 - - Commercial business 517 - - Consumer - - - Total $ 657 $ 2 $ 2 Impaired Loans with No Specific Allowance For the three months As of June 30, 2016 ended June 30, 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 $ 58 $ - $ - Home equity and lines of credit - - - - - Commercial real estate 1,222 823 840 - - Commercial business 690 690 382 1 1 Consumer - - - - - Total $ 2,003 $ 1,571 $ 1,280 $ 1 $ 1 For the six months ended June 30, 2016 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 38 $ 2 $ 2 Home equity and lines of credit - - - Commercial real estate 809 1 1 Commercial business 280 1 1 Consumer - - - Total $ 1,127 $ 4 $ 4 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 June 30, 2016: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months As of June 30, 2015 ended June 30, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Related Recorded Recognized Recognized Balance Investment Allowance Investment in Period in Period Residential first mortgages $ 169 $ 169 $ 27 $ 170 $ 2 $ 2 Home equity and lines of credit - - - - - - Commercial real estate 3,538 2,597 216 2,603 49 41 Commercial business 1,159 1,159 342 1,859 118 106 Consumer - - - - - - Total $ 4,866 $ 3,925 $ 585 $ 4,632 $ 169 $ 149 For the six months ended June 30, 2015 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 170 $ 4 $ 4 Home equity and lines of credit - - - Commercial real estate 2,627 49 41 Commercial business 2,113 118 106 Consumer - - - Total $ 4,910 $ 171 $ 151 Impaired Loans with No Specific Allowance For the three months As of June 30, 2015 ended June 30, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ - $ - $ 55 $ 7 $ 7 Home equity and lines of credit - - - - - Commercial real estate 805 406 608 1 1 Commercial business 73 73 62 - - Consumer - - - - - Total $ 878 $ 479 $ 725 $ 8 $ 8 For the six months ended June 30, 2015 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 75 $ 7 $ 7 Home equity and lines of credit - - - Commercial real estate 690 6 6 Commercial business 58 2 2 Consumer - - - Total $ 823 $ 15 $ 15 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). At June 30, 2016 and December 31, 2015, the Corporation had $ 406,000 835,000 19,000 63,000 During the three and six month periods ended June 30, 2016, the Corporation modified one home equity loan with a recorded investment of $ 10,000 A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. During the three and six month periods ended June 30, 2016, 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. During the three and six month periods ended June 30, 2015, there was a default on one $ 90,000 Credit Quality Indicators. 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 Qualitative Management uses the following definitions for risk ratings: Pass Special Mention Substandard Doubtful (Dollar amounts in thousands) Special Not Rated Pass Mention Substandard Doubtful Total June 30, 2016: Residential first mortgages $ 182,961 $ - $ - $ 1,453 $ - $ 184,414 Home equity and lines of credit 91,074 - - 530 - 91,604 Commercial real estate - 150,316 48 4,526 - 154,890 Commercial business - 59,943 5,494 760 - 66,197 Consumer 7,050 - - - - 7,050 Total $ 281,085 $ 210,259 $ 5,542 $ 7,269 $ - $ 504,155 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 (Dollar amounts in thousands) Performing Nonperforming Accruing Accruing Accruing Accruing Loans Not 30-59 Days 60-89 Days 90 Days + Total Past Due Past Due Past Due Past Due Nonaccrual Loans June 30, 2016: Residential first mortgages $ 181,180 $ 1,894 $ 194 $ - $ 1,146 $ 184,414 Home equity and lines of credit 90,875 128 91 - 510 91,604 Commercial real estate 152,184 1,784 - 53 869 154,890 Commercial business 65,265 242 - - 690 66,197 Consumer 6,987 60 3 - - 7,050 Total loans $ 496,491 $ 4,108 $ 288 $ 53 $ 3,215 $ 504,155 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 June 30, 2016: Residential first mortgages $ 74 $ - $ 78 $ 994 $ 1,146 Home equity and lines of credit 12 4 - 494 510 Commercial real estate 579 - - 290 869 Commercial business 661 - - 29 690 Consumer - - - - - Total loans $ 1,326 $ 4 $ 78 $ 1,807 $ 3,215 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 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 6 Months Ended |
Jun. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | 8. Goodwill and Intangible Assets (Dollar amounts in thousands) June 30, 2016 December 31, 2015 Gross Carrying Accumulated Gross Carrying Accumulated Goodwill $ 10,291 $ - $ 3,664 $ - Core deposit intangibles 4,259 3,578 4,027 3,473 Total $ 14,550 $ 3,578 $ 7,691 $ 3,473 Goodwill resulted from four acquisitions. During the three and six months ended June 30, 2016, the Corporation recorded $ 6.6 The core deposit intangible asset, resulting from two acquisitions, is amortized using the double declining balance method over a weighted average estimated life of the related deposits and is not estimated to have a significant residual value. During the three and six month periods ending June 30, 2016, the Corporation recorded intangible amortization expense totaling $ 56,000 105,000 49,000 98,000 |
Stock Compensation Plans
Stock Compensation Plans | 6 Months Ended |
Jun. 30, 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 Incentive stock options, non-incentive or compensatory stock options and share awards may be granted under the Plans. The exercise price of each option shall at least equal the market price of a share of common stock on the date of grant and have a contractual term of ten years. Options shall vest and become exercisable at the rate, to the extent and subject to such limitations as may be specified by the Corporation. Compensation cost related to share-based payment transactions must be recognized in the financial statements with measurement based upon the fair value of the equity instruments issued. Aggregate Weighted-Average Weighted-Average Intrinsic Value Remaining Term Options Exercise Price (in thousands) (in years) Outstanding as of January 1, 2016 73,000 $ 25.71 $ 9,000 1.6 Granted - - - - Exercised - - - - Forfeited - - - - Outstanding as of June 30, 2016 73,000 $ 25.71 $ 8,640 1.1 Exercisable as of June 30, 2016 73,000 $ 25.71 $ 8,640 1.1 Weighted-Average Shares Grant-date Fair Value Nonvested at January 1, 2016 23,450 $ 24.38 Granted - - Vested (1,500) 24.51 Forfeited - - Nonvested as of June 30, 2016 21,950 $ 24.37 For the three and six month periods ended June 30, 2016, the Corporation recognized $ 64,000 110,000 55,000 108,000 280,000 1.6 |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | 10. 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 – 643 47 235,000 Other real estate owned (OREO) – 13,000 22,000 9,000 0 3,000 Appraisals for both collateral-dependent impaired loans and OREO are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed by the Corporation. Once received, management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On an annual basis, the Corporation compares the actual selling price of OREO that has been sold to the most recent appraisal to determine what additional adjustment should be made to the appraisal value to arrive at fair value. The most recent analysis performed indicated that a discount of 10 Federal bank stock Deposits Borrowings Accrued interest receivable and payable (Dollar amounts in thousands) (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable Unobservable Description Total Assets Inputs Inputs June 30, 2016: U.S. Treasury and federal agency $ 1,512 $ 1,512 $ - $ - U.S. government sponsored entities and agencies 8,407 - 8,407 - U.S. agency mortgage-backed securities: residential 29,504 - 29,504 - U.S. agency collateralized mortgage obligations: residential 28,111 - 28,111 - State and political subdivision 28,504 - 28,504 - Corporate debt securities 8,058 - 8,058 - Equity securities 2,049 1,914 - 135 $ 106,145 $ 3,426 $ 102,584 $ 135 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 (Dollar amounts in thousands) Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Balance at the beginning of the period $ 74 $ 828 $ 74 $ 898 Total gains or losses (realized/unrealized): - - - - Included in earnings - - - - Included in other comprehensive income 1 7 1 (63) Acquired 60 - 60 - Transfers in and/or out of Level 3 - - - - Balance at the end of the period $ 135 $ 835 $ 135 $ 835 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 December 31, 2015: Impaired commercial business loans $ 596 $ - $ - $ 596 Other residential real estate owned 13 - - 13 $ 609 $ - $ - $ 609 (Dollar amounts in thousands) Valuation Unobservable Weighted Techniques(s) Input (s) Average December 31, 2015: Impaired commercial business loans $ 596 Liquidation value of business assets Adjustment for differences 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 $ 78 140,000 89,000 250,000 (Dollar amounts in thousands) Carrying Fair Value Measurements using: Description Amount Total Level 1 Level 2 Level 3 June 30, 2016: Financial Assets: Cash and cash equivalents $ 38,561 $ 38,561 $ 38,561 $ - $ - Securities available for sale 106,145 106,145 3,426 102,584 135 Loans, net 498,724 510,898 - - 510,898 Federal bank stock 3,764 N/A N/A N/A N/A Accrued interest receivable 1,837 1,837 53 336 1,448 $ 649,031 $ 657,441 $ 42,040 $ 102,920 $ 512,481 Financial Liabilities: Deposits 596,886 599,829 422,785 177,044 - Borrowed funds 37,500 39,544 - 39,544 - Accrued interest payable 254 254 6 248 - $ 634,640 $ 639,627 $ 422,791 $ 216,836 $ - 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 $ - |
Regulatory Matters
Regulatory Matters | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Legal Matters and Contingencies [Text Block] | 11. Regulatory Matters The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of its assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (BASEL III rules) became effective for the Bank on January 1, 2015 with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in by January 1, 2019. Quantitative measures established by the regulations to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the following table) of total, Tier 1 capital and common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). In 2015, the Board of Governors of the Federal Reserve System amended its Small Bank Holding Company Policy Statement by increasing the policy’s consolidated assets threshold from $500 million to $1 billion. As of June 30, 2016, the most recent notification from the FDIC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based, common equity Tier 1 risk-based and Tier 1 leverage ratios as set forth in the following table. There are no conditions or events since the notification that management believes have changed the Bank’s category. (Dollar amounts in thousands) June 30, 2016 December 31, 2015 Amount Ratio Amount Ratio Total capital to risk-weighted assets: Actual $ 57,760 12.84 % $ 56,090 13.99 % For capital adequacy purposes 35,977 8.00 % 32,070 8.00 % To be well capitalized 44,971 10.00 % 40,087 10.00 % Tier 1 capital to risk-weighted assets: Actual $ 52,325 11.64 % $ 51,073 12.74 % For capital adequacy purposes 26,982 6.00 % 24,052 6.00 % To be well capitalized 35,977 8.00 % 32,070 8.00 % Common Equity Tier 1 capital to risk-weighted assets: Actual $ 52,325 11.64 % $ 51,073 12.74 % For capital adequacy purposes 20,237 4.50 % 18,039 4.50 % To be well capitalized 29,231 6.50 % 26,057 6.50 % Tier 1 capital to average assets: Actual $ 52,325 7.68 % $ 51,073 8.83 % For capital adequacy purposes 27,269 4.00 % 23,131 4.00 % To be well capitalized 34,086 5.00 % 28,914 5.00 % |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Other Comprehensive Income, Noncontrolling Interest [Text Block] | 12. Accumulated Other Comprehensive Income (Loss) (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Income (Loss) at April 1, 2016 $ 630 $ (3,514) $ (2,884) Other comprehensive income before reclassification 461 - 461 Amounts reclassified from accumulated other comprehensive income (loss) (53) - (53) Net current period other comprehensive income 408 - 408 Accumulated Other Comprehensive Income (Loss) at June 30, 2016 $ 1,038 $ (3,514) $ (2,476) (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the three months Statement Where Net Comprehensive Income Components ended June 30, 2016 Income is Presented Unrealized gains and losses on available-for-sale securities $ 81 Net gain on sale of available-for-sale securities (28) Provision for income taxes Total reclassifications for the period $ 53 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 April 1, 2015 $ 883 $ (3,196) $ (2,313) Other comprehensive income before reclassification (829) - (829) Amounts reclassified from accumulated other comprehensive income (loss) (22) - (22) Net current period other comprehensive income (851) - (851) Accumulated Other Comprehensive Income (Loss) at June 30, 2015 $ 32 $ (3,196) $ (3,164) (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the three months Statement Where Net Comprehensive Loss Components ended June 30, 2015 Income is Presented Unrealized gains and losses on available-for-sale securities $ 34 Net gain on sale of available-for-sale securities (12) Provision for income taxes Total reclassifications for the period $ 22 Net of tax (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Income (Loss) at January 1, 2016 $ (248) $ (3,514) $ (3,762) Other comprehensive income before reclassification 1,340 - 1,340 Amounts reclassified from accumulated other comprehensive income (loss) (55) - (55) Net current period other comprehensive income 1,285 - 1,285 Accumulated Other Comprehensive Income (Loss) at June 30, 2016 $ 1,037 $ (3,514) $ (2,476) (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the six months Statement Where Net Comprehensive Income Components ended June 30, 2016 Income is Presented Unrealized gains and losses on available-for-sale securities $ 83 Net gain on sale of available-for-sale securities (28) Provision for income taxes Total reclassifications for the period $ 55 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 (144) - (144) Amounts reclassified from accumulated other comprehensive income (loss) (22) - (22) Net current period other comprehensive income (166) - (166) Accumulated Other Comprehensive Income (Loss) at June 30, 2015 $ 32 $ (3,196) $ (3,164) (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the six months Statement Where Net Comprehensive Income Components ended June 30, 2015 Income is Presented Unrealized gains and losses on available-for-sale securities $ 34 Net gain on sale of available-for-sale securities (12) Provision for income taxes Total reclassifications for the period $ 22 Net of tax |
New Accounting Standards
New Accounting Standards | 6 Months Ended |
Jun. 30, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 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. In June 2016, the FASB issued ASU 2016-13, “ Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. |
Mergers and Acquisitions (Table
Mergers and Acquisitions (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the estimated fair value of the assets acquired and liabilities assumed: (Dollar amounts in thousands) Assets acquired: Cash and cash equivalents $ 9,899 Securities available for sale 60 Loans receivable 66,145 Federal bank stocks 978 Accrued interest receivable 234 Premises and equipment 1,169 Goodwill 6,626 Core deposit intangible 232 Prepaid expenses and other assets 989 Total assets acquired 86,332 Liabilities assumed: Deposits 72,700 Accrued interest payable 29 Accrued expenses and other liabilities 395 Total liabilities assumed 73,124 Consideration paid $ 13,208 |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (Dollar amounts in thousands, except for per share amounts) For the three months ended For the six months ended June 30, June 30, 2016 2015 2016 2015 Earnings per common share - basic Net income $ 930 $ 927 $ 1,732 $ 1,708 Less: Preferred stock dividends - 25 - 50 Net income available to common stockholders $ 930 $ 902 $ 1,732 $ 1,658 Average common shares outstanding 2,146,160 1,864,298 2,145,484 1,823,086 Basic earnings per common share $ 0.43 $ 0.48 $ 0.81 $ 0.91 Earnings per common share - diluted Net income available to common stockholders $ 930 $ 902 $ 1,732 $ 1,658 Average common shares outstanding 2,146,160 1,864,298 2,145,484 1,823,086 Add: Dilutive effects of assumed issuance of restricted stock and exercise of stock options 10,218 11,962 9,224 11,301 Average shares and dilutive potential common shares 2,156,378 1,876,260 2,154,708 1,834,387 Diluted earnings per common share $ 0.43 $ 0.48 $ 0.80 $ 0.90 Stock options not considered in computing earnings per share because they were antidilutive 67,000 67,000 67,000 67,000 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2016 and December 31, 2015: Gross Gross Amortized Unrealized Unrealized Fair (Dollar amounts in thousands) Cost Gains Losses Value Available for sale: June 30, 2016: U.S. Treasury and federal agency $ 1,493 $ 19 $ - $ 1,512 U.S. government sponsored entities and agencies 8,401 7 (1) 8,407 U.S. agency mortgage-backed securities: residential 28,542 962 - 29,504 U.S. agency collateralized mortgage obligations: residential 28,321 50 (260) 28,111 State and political subdivisions 27,972 532 - 28,504 Corporate debt securities 8,014 44 - 8,058 Equity securities 1,829 238 (18) 2,049 $ 104,572 $ 1,852 $ (279) $ 106,145 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 June 30, 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. Available for sale Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 1,711 $ 1,716 Due after one year through five years 16,342 16,480 Due after five through ten years 27,088 27,532 Due after ten years 739 753 Mortgage-backed securities: residential 28,542 29,504 Collateralized mortgage obligations: residential 28,321 28,111 $ 102,743 $ 104,096 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Information pertaining to securities with gross unrealized losses at June 30, 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 June 30, 2016: U.S. government sponsored entities and agencies $ 1,000 $ (1) $ - $ - $ 1,000 $ (1) U.S. agency collateralized mortgage obligations: residential 2,218 (65) 13,241 (195) 15,459 (260) Equity securities 232 (18) - - 232 (18) $ 3,450 $ (84) $ 13,241 $ (195) $ 16,691 $ (279) 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 and six months ended June 30 were as follows: For the three months For the six months (Dollar amounts in thousands) ended June 30, ended June 30, 2016 2015 2016 2015 Proceeds $ 2,439 $ 1,791 $ 6,118 $ 1,791 Gains 81 34 83 34 Tax provision related to gains 28 12 28 12 |
Loans Receivable and Related 25
Loans Receivable and Related Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 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) June 30, December 31, 2016 2015 Mortgage loans on real estate: Residential first mortgages $ 184,414 $ 139,305 Home equity loans and lines of credit 91,604 87,410 Commercial real estate 154,890 129,691 430,908 356,406 Other loans: Commercial business 66,197 71,948 Consumer 7,050 6,742 73,247 78,690 Total loans, gross 504,155 435,096 Less allowance for loan losses 5,431 5,205 Total loans, net $ 498,724 $ 429,891 |
Allowance For Credit Losses On Loans Receivables, Additional Information [Table Text Block] | The following table details activity in the ALL and the recorded investment by portfolio segment based on impairment method: (Dollar amounts in thousands) Home Equity Residential & Lines Commercial Commercial Mortgages of Credit Real Estate Business Consumer Total Three months ended June 30, 2016: Allowance for loan losses: Beginning Balance $ 1,577 $ 636 $ 1,926 $ 1,162 $ 51 $ 5,352 Charge-offs (8) (33) - - (6) (47) Recoveries - 1 3 - 1 5 Provision 127 41 189 (242) 6 121 Ending Balance $ 1,696 $ 645 $ 2,118 $ 920 $ 52 $ 5,431 Six months ended June 30, 2016: Allowance for loan losses: Beginning Balance $ 1,429 $ 586 $ 2,185 $ 960 $ 45 $ 5,205 Charge-offs (40) (33) - - (15) (88) Recoveries - 1 7 - 4 12 Provision 307 91 (74) (40) 18 302 Ending Balance $ 1,696 $ 645 $ 2,118 $ 920 $ 52 $ 5,431 At June 30, 2016: Ending ALL balance attributable to loans: Individually evaluated for impairment $ 19 $ - $ - $ - $ - $ 19 Collectively evaluated for impairment 1,677 645 2,118 920 52 5,412 Total $ 1,696 $ 645 $ 2,118 $ 920 $ 52 $ 5,431 Total loans: Individually evaluated for impairment $ 136 $ - $ 823 $ 690 $ - $ 1,649 Acquired loans 29,818 6,266 30,386 1,505 300 68,275 Collectively evaluated for impairment 154,460 85,338 123,681 64,002 6,750 434,231 Total $ 184,414 $ 91,604 $ 154,890 $ 66,197 $ 7,050 $ 504,155 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 Three months ended June 30, 2015: Allowance for loan losses: Beginning Balance $ 1,088 $ 611 $ 2,233 $ 1,360 $ 48 $ 5,340 Charge-offs - (22) - (182) (6) (210) Recoveries - 25 6 - 6 37 Provision 170 8 (78) 104 (1) 203 Ending Balance $ 1,258 $ 622 $ 2,161 $ 1,282 $ 47 $ 5,370 Six months ended June 30, 2015: Allowance for loan losses: Beginning Balance $ 955 $ 543 $ 2,338 $ 1,336 $ 52 $ 5,224 Charge-offs (4) (85) - (182) (29) (300) Recoveries - 30 12 20 13 75 Provision 307 134 (189) 108 11 371 Ending Balance $ 1,258 $ 622 $ 2,161 $ 1,282 $ 47 $ 5,370 |
Schedule Of Impaired Loans Receivable, Additional Information [Table Text Block] | The following table presents impaired loans by class, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of June 30, 2016: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months As of June 30, 2016 ended June 30, 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 $ 78 $ 1 $ 1 Home equity and lines of credit - - - - - - Commercial real estate - - - - - - Commercial business - - - 315 - - Consumer - - - - - - Total $ 78 $ 78 $ 19 $ 393 $ 1 $ 1 For the six months ended June 30, 2016 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first\ mortgages $ 109 $ 2 $ 2 Home equity and lines of credit - - - Commercial real estate 31 - - Commercial business 517 - - Consumer - - - Total $ 657 $ 2 $ 2 Impaired Loans with No Specific Allowance For the three months As of June 30, 2016 ended June 30, 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 $ 58 $ - $ - Home equity and lines of credit - - - - - Commercial real estate 1,222 823 840 - - Commercial business 690 690 382 1 1 Consumer - - - - - Total $ 2,003 $ 1,571 $ 1,280 $ 1 $ 1 For the six months ended June 30, 2016 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 38 $ 2 $ 2 Home equity and lines of credit - - - Commercial real estate 809 1 1 Commercial business 280 1 1 Consumer - - - Total $ 1,127 $ 4 $ 4 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 June 30, 2016: (Dollar amounts in thousands) Impaired Loans with Specific Allowance For the three months As of June 30, 2015 ended June 30, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Related Recorded Recognized Recognized Balance Investment Allowance Investment in Period in Period Residential first mortgages $ 169 $ 169 $ 27 $ 170 $ 2 $ 2 Home equity and lines of credit - - - - - - Commercial real estate 3,538 2,597 216 2,603 49 41 Commercial business 1,159 1,159 342 1,859 118 106 Consumer - - - - - - Total $ 4,866 $ 3,925 $ 585 $ 4,632 $ 169 $ 149 For the six months ended June 30, 2015 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 170 $ 4 $ 4 Home equity and lines of credit - - - Commercial real estate 2,627 49 41 Commercial business 2,113 118 106 Consumer - - - Total $ 4,910 $ 171 $ 151 Impaired Loans with No Specific Allowance For the three months As of June 30, 2015 ended June 30, 2015 Cash Basis Unpaid Average Interest Income Interest Principal Recorded Recorded Recognized Recognized Balance Investment Investment in Period in Period Residential first mortgages $ - $ - $ 55 $ 7 $ 7 Home equity and lines of credit - - - - - Commercial real estate 805 406 608 1 1 Commercial business 73 73 62 - - Consumer - - - - - Total $ 878 $ 479 $ 725 $ 8 $ 8 For the six months ended June 30, 2015 Cash Basis Average Interest Income Interest Recorded Recognized Recognized Investment in Period in Period Residential first mortgages $ 75 $ 7 $ 7 Home equity and lines of credit - - - Commercial real estate 690 6 6 Commercial business 58 2 2 Consumer - - - Total $ 823 $ 15 $ 15 |
Financing Receivable Credit Quality Indicators [Table Text Block] | The following table presents the classes of the loan portfolio summarized by the aggregate pass and the criticized categories of special mention, substandard and doubtful within the Corporation’s internal risk rating system as of June 30, 2016 and December 31, 2015: (Dollar amounts in thousands) Special Not Rated Pass Mention Substandard Doubtful Total June 30, 2016: Residential first mortgages $ 182,961 $ - $ - $ 1,453 $ - $ 184,414 Home equity and lines of credit 91,074 - - 530 - 91,604 Commercial real estate - 150,316 48 4,526 - 154,890 Commercial business - 59,943 5,494 760 - 66,197 Consumer 7,050 - - - - 7,050 Total $ 281,085 $ 210,259 $ 5,542 $ 7,269 $ - $ 504,155 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 June 30, 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 June 30, 2016: Residential first mortgages $ 181,180 $ 1,894 $ 194 $ - $ 1,146 $ 184,414 Home equity and lines of credit 90,875 128 91 - 510 91,604 Commercial real estate 152,184 1,784 - 53 869 154,890 Commercial business 65,265 242 - - 690 66,197 Consumer 6,987 60 3 - - 7,050 Total loans $ 496,491 $ 4,108 $ 288 $ 53 $ 3,215 $ 504,155 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 June 30, 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 June 30, 2016: Residential first mortgages $ 74 $ - $ 78 $ 994 $ 1,146 Home equity and lines of credit 12 4 - 494 510 Commercial real estate 579 - - 290 869 Commercial business 661 - - 29 690 Consumer - - - - - Total loans $ 1,326 $ 4 $ 78 $ 1,807 $ 3,215 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 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2016 and December 31, 2015: (Dollar amounts in thousands) June 30, 2016 December 31, 2015 Gross Carrying Accumulated Gross Carrying Accumulated Goodwill $ 10,291 $ - $ 3,664 $ - Core deposit intangibles 4,259 3,578 4,027 3,473 Total $ 14,550 $ 3,578 $ 7,691 $ 3,473 |
Stock Compensation Plans (Table
Stock Compensation Plans (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | 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 June 30, 2016 73,000 $ 25.71 $ 8,640 1.1 Exercisable as of June 30, 2016 73,000 $ 25.71 $ 8,640 1.1 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | A summary of the status of the Corporation’s nonvested restricted stock awards as of June 30, 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 (1,500) 24.51 Forfeited - - Nonvested as of June 30, 2016 21,950 $ 24.37 |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | (Dollar amounts in thousands) (Level 1) (Level 2) Quoted Prices in Significant (Level 3) Active Markets Other Significant for Identical Observable Unobservable Description Total Assets Inputs Inputs June 30, 2016: U.S. Treasury and federal agency $ 1,512 $ 1,512 $ - $ - U.S. government sponsored entities and agencies 8,407 - 8,407 - U.S. agency mortgage-backed securities: residential 29,504 - 29,504 - U.S. agency collateralized mortgage obligations: residential 28,111 - 28,111 - State and political subdivision 28,504 - 28,504 - Corporate debt securities 8,058 - 8,058 - Equity securities 2,049 1,914 - 135 $ 106,145 $ 3,426 $ 102,584 $ 135 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 and six month periods ended June 30, 2016 and 2015: (Dollar amounts in thousands) Three months ended Six months ended June 30, June 30, 2016 2015 2016 2015 Balance at the beginning of the period $ 74 $ 828 $ 74 $ 898 Total gains or losses (realized/unrealized): - - - - Included in earnings - - - - Included in other comprehensive income 1 7 1 (63) Acquired 60 - 60 - Transfers in and/or out of Level 3 - - - - Balance at the end of the period $ 135 $ 835 $ 135 $ 835 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block] | (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 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] | (Dollar amounts in thousands) Valuation Unobservable Weighted Techniques(s) Input (s) Average December 31, 2015: Impaired commercial business loans $ 596 Liquidation value of business assets Adjustment for differences 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] | (Dollar amounts in thousands) Carrying Fair Value Measurements using: Description Amount Total Level 1 Level 2 Level 3 June 30, 2016: Financial Assets: Cash and cash equivalents $ 38,561 $ 38,561 $ 38,561 $ - $ - Securities available for sale 106,145 106,145 3,426 102,584 135 Loans, net 498,724 510,898 - - 510,898 Federal bank stock 3,764 N/A N/A N/A N/A Accrued interest receivable 1,837 1,837 53 336 1,448 $ 649,031 $ 657,441 $ 42,040 $ 102,920 $ 512,481 Financial Liabilities: Deposits 596,886 599,829 422,785 177,044 - Borrowed funds 37,500 39,544 - 39,544 - Accrued interest payable 254 254 6 248 - $ 634,640 $ 639,627 $ 422,791 $ 216,836 $ - 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 $ - |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | (Dollar amounts in thousands) June 30, 2016 December 31, 2015 Amount Ratio Amount Ratio Total capital to risk-weighted assets: Actual $ 57,760 12.84 % $ 56,090 13.99 % For capital adequacy purposes 35,977 8.00 % 32,070 8.00 % To be well capitalized 44,971 10.00 % 40,087 10.00 % Tier 1 capital to risk-weighted assets: Actual $ 52,325 11.64 % $ 51,073 12.74 % For capital adequacy purposes 26,982 6.00 % 24,052 6.00 % To be well capitalized 35,977 8.00 % 32,070 8.00 % Common Equity Tier 1 capital to risk-weighted assets: Actual $ 52,325 11.64 % $ 51,073 12.74 % For capital adequacy purposes 20,237 4.50 % 18,039 4.50 % To be well capitalized 29,231 6.50 % 26,057 6.50 % Tier 1 capital to average assets: Actual $ 52,325 7.68 % $ 51,073 8.83 % For capital adequacy purposes 27,269 4.00 % 23,131 4.00 % To be well capitalized 34,086 5.00 % 28,914 5.00 % |
Accumulated Other Comprehensi30
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 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] | The following tables summarize the changes within each classification of accumulated other comprehensive income (loss), net of tax, for the three months ended June 30, 2016 and 2015 and summarizes the significant amounts reclassified out of each component of accumulated other comprehensive income: (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Income (Loss) at April 1, 2016 $ 630 $ (3,514 ) $ (2,884 ) Other comprehensive income before reclassification 461 - 461 Amounts reclassified from accumulated other comprehensive income (loss) (53 ) - (53 ) Net current period other comprehensive income 408 - 408 Accumulated Other Comprehensive Income (Loss) at June 30, 2016 $ 1,038 $ (3,514 ) $ (2,476 ) (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Income (Loss) at April 1, 2015 $ 883 $ (3,196 ) $ (2,313 ) Other comprehensive income before reclassification (829 ) - (829 ) Amounts reclassified from accumulated other comprehensive income (loss) (22 ) - (22 ) Net current period other comprehensive income (851 ) - (851 ) Accumulated Other Comprehensive Income (Loss) at June 30, 2015 $ 32 $ (3,196 ) $ (3,164 ) The following tables summarize the changes within each classification of accumulated other comprehensive income (loss), net of tax, for the six months ended June 30, 2016 and 2015 and summarizes the significant amounts reclassified out of each component of accumulated other comprehensive income: (Dollar amounts in thousands) Unrealized Gains Defined and Losses on Benefit Available-for-Sale Pension Securities Items Totals Accumulated Other Comprehensive Income (Loss) at January 1, 2016 $ (248 ) $ (3,514 ) $ (3,762 ) Other comprehensive income before reclassification 1,340 - 1,340 Amounts reclassified from accumulated other comprehensive income (loss) (55 ) - (55 ) Net current period other comprehensive income 1,285 - 1,285 Accumulated Other Comprehensive Income (Loss) at June 30, 2016 $ 1,037 $ (3,514 ) $ (2,476 ) (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 (144 ) - (144 ) Amounts reclassified from accumulated other comprehensive income (loss) (22 ) - (22 ) Net current period other comprehensive income (166 ) - (166 ) Accumulated Other Comprehensive Income (Loss) at June 30, 2015 $ 32 $ (3,196 ) $ (3,164 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the three months Statement Where Net Comprehensive Income Components ended June 30, 2016 Income is Presented Unrealized gains and losses on available-for-sale securities $ 81 Net gain on sale of available-for-sale securities (28 ) Provision for income taxes Total reclassifications for the period $ 53 Net of tax (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the three months Statement Where Net Comprehensive Loss Components ended June 30, 2015 Income is Presented Unrealized gains and losses on available-for-sale securities $ 34 Net gain on sale of available-for-sale securities (12 ) Provision for income taxes Total reclassifications for the period $ 22 Net of tax (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the six months Statement Where Net Comprehensive Income Components ended June 30, 2016 Income is Presented Unrealized gains and losses on available-for-sale securities $ 83 Net gain on sale of available-for-sale securities (28 ) Provision for income taxes Total reclassifications for the period $ 55 Net of tax (Dollar amounts in thousands) Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Details about Accumulated Other For the six months Statement Where Net Comprehensive Income Components ended June 30, 2015 Income is Presented Unrealized gains and losses on available-for-sale securities $ 34 Net gain on sale of available-for-sale securities (12 ) Provision for income taxes Total reclassifications for the period $ 22 Net of tax |
Mergers and Acquisitions (Detai
Mergers and Acquisitions (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Apr. 30, 2016 | Dec. 31, 2015 |
Assets acquired: | |||
Loans receivable | $ 66,100 | ||
Goodwill | 10,291 | $ 3,664 | |
United American Savings Bank [Member] | |||
Assets acquired: | |||
Cash and cash equivalents | $ 9,899 | ||
Securities available for sale | 60 | ||
Loans receivable | 66,145 | ||
Federal bank stocks | 978 | ||
Accrued interest receivable | 234 | ||
Premises and equipment | 1,169 | ||
Goodwill | $ 6,600 | 6,626 | |
Core deposit intangible | 232 | ||
Prepaid expenses and other assets | 989 | ||
Total assets acquired | 86,332 | ||
Liabilities assumed: | |||
Deposits | 72,700 | ||
Accrued interest payable | 29 | ||
Accrued expenses and other liabilities | 395 | ||
Total liabilities assumed | 73,124 | ||
Consideration paid | $ 13,208 |
Mergers and Acquisitions (Det32
Mergers and Acquisitions (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |
Dec. 31, 2015 | Jun. 30, 2016 | Jun. 30, 2016 | Apr. 30, 2016 | |
Recognized Identified Assets Acquired And Liabilities Assumed [Line Items] | ||||
Goodwill | $ 3,664,000 | $ 10,291,000 | $ 10,291,000 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 235,000 | 235,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 196,000 | 196,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 26,000 | 26,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 20,000 | 20,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 83,000 | 83,000 | ||
Business Combination Recognized Identifiable Assets Acquired Financing Receivable, Adjustment For Other Factors | 982,000 | 982,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 66,100,000 | 66,100,000 | ||
Business Combination, Acquisition Related Costs | 92,000 | 401,000 | ||
Business Combination Recognized Identifiable Assets Acquired Financing Receivable, Allowance for Credit Losses | (927,000) | (927,000) | ||
Legal Fees [Member] | ||||
Recognized Identified Assets Acquired And Liabilities Assumed [Line Items] | ||||
Business Combination, Acquisition Related Costs | 50,000 | 194,000 | ||
System Conversion Costs [Member] | ||||
Recognized Identified Assets Acquired And Liabilities Assumed [Line Items] | ||||
Business Combination, Acquisition Related Costs | 32,000 | 132,000 | ||
Other Professional Fees [Member] | ||||
Recognized Identified Assets Acquired And Liabilities Assumed [Line Items] | ||||
Business Combination, Acquisition Related Costs | 10,000 | 75,000 | ||
United American Savings Bank [Member] | ||||
Recognized Identified Assets Acquired And Liabilities Assumed [Line Items] | ||||
Payments to Acquire Businesses, Gross | $ 13,200,000 | |||
Business Acquisition, Share Price | $ 42.67 | |||
Goodwill | 6,600,000 | 6,600,000 | $ 6,626,000 | |
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | 31,000 | 31,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 40,000 | 40,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 32,000 | 32,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 26,000 | 26,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 20,000 | 20,000 | ||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | $ 83,000 | $ 83,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 232,000 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | $ 66,145,000 | |||
United American Savings Bank [Member] | Core Deposits [Member] | ||||
Recognized Identified Assets Acquired And Liabilities Assumed [Line Items] | ||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years |
Issuance of Common Stock (Detai
Issuance of Common Stock (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Stock Issued During Period, Shares, New Issues | 350,000 | 350,000 | 350,000 | ||
Common Stock, Par Or Stated Value Per Share | $ 1.25 | $ 1.25 | $ 1.25 | ||
Stock Issued During Period, Value, New Issues | $ 0 | $ 8,162,000 | $ 0 | $ 8,162,000 | |
Payments of Stock Issuance Costs | $ 63,000 | ||||
Investor [Member] | |||||
Common Stock, Par Or Stated Value Per Share | $ 23.50 | $ 23.50 | |||
Individual [Member] | |||||
Common Stock, Par Or Stated Value Per Share | $ 1.25 | $ 1.25 |
Participation in the Small Bu34
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 | Jun. 30, 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 | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Earnings per common share - basic | ||||
Net income | $ 930 | $ 927 | $ 1,732 | $ 1,708 |
Less: Preferred stock dividends | 0 | 25 | 0 | 50 |
Net income available to common stockholders | $ 930 | $ 902 | $ 1,732 | $ 1,658 |
Average common shares outstanding (in shares) | 2,146,160 | 1,864,298 | 2,145,484 | 1,823,086 |
Basic earnings per common share (in dollars per share) | $ 0.43 | $ 0.48 | $ 0.81 | $ 0.91 |
Earnings per common share - diluted | ||||
Net income available to common stockholders | $ 930 | $ 902 | $ 1,732 | $ 1,658 |
Average common shares outstanding (in shares) | 2,146,160 | 1,864,298 | 2,145,484 | 1,823,086 |
Add: Dilutive effects of assumed issuance of restricted stock and exercise of stock options (in shares) | 10,218 | 11,962 | 9,224 | 11,301 |
Average shares and dilutive potential common shares (in shares) | 2,156,378 | 1,876,260 | 2,154,708 | 1,834,387 |
Diluted earnings per common share (in dollars per share) | $ 0.43 | $ 0.48 | $ 0.8 | $ 0.9 |
Stock options not considered in computing earnings per share because they were antidilutive (in shares) | 67,000 | 67,000 | 67,000 | 67,000 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 104,572 | $ 113,355 |
Gross Unrealized Gains | 1,852 | 734 |
Gross Unrealized Losses | (279) | (1,108) |
Fair Value | 106,145 | 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 | 19 | 0 |
Gross Unrealized Losses | 0 | (27) |
Fair Value | 1,512 | 1,466 |
U.S. government sponsored entities and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 8,401 | 8,998 |
Gross Unrealized Gains | 7 | 2 |
Gross Unrealized Losses | (1) | (47) |
Fair Value | 8,407 | 8,953 |
U.S. agency mortgage-backed securities: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 28,542 | 32,947 |
Gross Unrealized Gains | 962 | 256 |
Gross Unrealized Losses | 0 | (53) |
Fair Value | 29,504 | 33,150 |
U.S. agency collateralized mortgage obligations: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 28,321 | 32,289 |
Gross Unrealized Gains | 50 | 23 |
Gross Unrealized Losses | (260) | (872) |
Fair Value | 28,111 | 31,440 |
State and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 27,972 | 28,352 |
Gross Unrealized Gains | 532 | 264 |
Gross Unrealized Losses | 0 | (25) |
Fair Value | 28,504 | 28,591 |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 8,014 | 7,507 |
Gross Unrealized Gains | 44 | 1 |
Gross Unrealized Losses | 0 | (21) |
Fair Value | 8,058 | 7,487 |
Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,829 | 1,769 |
Gross Unrealized Gains | 238 | 188 |
Gross Unrealized Losses | (18) | (63) |
Fair Value | $ 2,049 | $ 1,894 |
Securities (Details 1)
Securities (Details 1) $ in Thousands | Jun. 30, 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 | 16,342 |
Due after five through ten years, Amortized Cost | 27,088 |
Due after ten years, Amortized Cost | 739 |
Amortized Cost | 102,743 |
Due in one year or less, Fair Value | 1,716 |
Due after one year through five years, Fair Value | 16,480 |
Due after five through ten years, Fair Value | 27,532 |
Due after ten years, Fair Value | 753 |
Fair Value | 104,096 |
U.S. agency mortgage-backed securities: residential [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Amortized Cost | 28,542 |
Fair Value | 29,504 |
U.S. agency collateralized mortgage obligations: residential [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Amortized Cost | 28,321 |
Fair Value | $ 28,111 |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | $ 3,450 | $ 21,604 |
Unrealized Loss, Less than 12 Months | (84) | (215) |
Fair Value, 12 Months or More | 13,241 | 31,110 |
Unrealized Loss, 12 Months or More | (195) | (893) |
Fair Value, Total | 16,691 | 52,714 |
Unrealized Loss, Total | (279) | (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 | 1,000 | 4,962 |
Unrealized Loss, Less than 12 Months | (1) | (36) |
Fair Value, 12 Months or More | 0 | 1,989 |
Unrealized Loss, 12 Months or More | 0 | (11) |
Fair Value, Total | 1,000 | 6,951 |
Unrealized Loss, Total | (1) | (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 | 2,218 | 4,283 |
Unrealized Loss, Less than 12 Months | (65) | (41) |
Fair Value, 12 Months or More | 13,241 | 25,336 |
Unrealized Loss, 12 Months or More | (195) | (831) |
Fair Value, Total | 15,459 | 29,619 |
Unrealized Loss, Total | (260) | (872) |
State and political subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 1,028 | |
Unrealized Loss, Less than 12 Months | (2) | |
Fair Value, 12 Months or More | 1,819 | |
Unrealized Loss, 12 Months or More | (23) | |
Fair Value, Total | 2,847 | |
Unrealized Loss, Total | (25) | |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 3,484 | |
Unrealized Loss, Less than 12 Months | (20) | |
Fair Value, 12 Months or More | 500 | |
Unrealized Loss, 12 Months or More | (1) | |
Fair Value, Total | 3,984 | |
Unrealized Loss, Total | (21) | |
Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less than 12 Months | 232 | 1,137 |
Unrealized Loss, Less than 12 Months | (18) | (63) |
Fair Value, 12 Months or More | 0 | 0 |
Unrealized Loss, 12 Months or More | 0 | 0 |
Fair Value, Total | 232 | 1,137 |
Unrealized Loss, Total | $ (18) | $ (63) |
Securities (Details 3)
Securities (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Proceeds | $ 2,439 | $ 1,791 | $ 6,118 | $ 1,791 |
Gains | 81 | 34 | 83 | 34 |
Tax provision related to gains | $ 28 | $ 12 | $ 28 | $ 12 |
Loans Receivable and Related 40
Loans Receivable and Related Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Mortgage loans on real estate: | ||
Residential first mortgages | $ 184,414 | $ 139,305 |
Home equity loans and lines of credit | 91,604 | 87,410 |
Commercial real estate | 154,890 | 129,691 |
Mortgage Loans on Real Estate | 430,908 | 356,406 |
Other loans: | ||
Loans Receivable Commercial and Consumer | 73,247 | 78,690 |
Total loans, gross | 504,155 | 435,096 |
Less allowance for loan losses | 5,431 | 5,205 |
Total loans, net | 498,724 | 429,891 |
Consumer Portfolio Segment [Member] | ||
Other loans: | ||
Loans and Leases Receivable before Fees, Gross | 7,050 | 6,742 |
Commercial Portfolio Segment [Member] | ||
Other loans: | ||
Loans and Leases Receivable before Fees, Gross | $ 66,197 | $ 71,948 |
Loans Receivable and Related 41
Loans Receivable and Related Allowance for Loan Losses (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning Balance | $ 5,352 | $ 5,340 | $ 5,205 | $ 5,224 | ||
Charge-offs | (47) | (210) | (88) | (300) | ||
Recoveries | 5 | 37 | 12 | 75 | ||
Provision | 121 | 203 | 302 | 371 | ||
Ending Balance | 5,431 | 5,370 | 5,431 | 5,370 | ||
Ending ALL balance attributable to loans: | ||||||
Individually evaluated for impairment | $ 19 | $ 110 | ||||
Acquired loans | 68,275 | |||||
Collectively evaluated for impairment | 5,412 | 5,095 | ||||
Total | 5,352 | 5,340 | 5,205 | 5,224 | 5,431 | 5,205 |
Total loans: | ||||||
Individually evaluated for impairment | 1,649 | 2,007 | ||||
Collectively evaluated for impairment | 434,231 | 433,089 | ||||
Total | 504,155 | 435,096 | ||||
Residential first mortgages [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning Balance | 1,577 | 1,088 | 1,429 | 955 | ||
Charge-offs | (8) | 0 | (40) | (4) | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Provision | 127 | 170 | 307 | 307 | ||
Ending Balance | 1,696 | 1,258 | 1,696 | 1,258 | ||
Ending ALL balance attributable to loans: | ||||||
Individually evaluated for impairment | 19 | 29 | ||||
Acquired loans | 29,818 | |||||
Collectively evaluated for impairment | 1,677 | 1,400 | ||||
Total | 1,577 | 1,088 | 1,429 | 955 | 1,696 | 1,429 |
Total loans: | ||||||
Individually evaluated for impairment | 136 | 169 | ||||
Collectively evaluated for impairment | 154,460 | 139,136 | ||||
Total | 184,414 | 139,305 | ||||
Home equity and lines of credit [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning Balance | 636 | 611 | 586 | 543 | ||
Charge-offs | (33) | (22) | (33) | (85) | ||
Recoveries | 1 | 25 | 1 | 30 | ||
Provision | 41 | 8 | 91 | 134 | ||
Ending Balance | 645 | 622 | 645 | 622 | ||
Ending ALL balance attributable to loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Acquired loans | 6,266 | |||||
Collectively evaluated for impairment | 645 | 586 | ||||
Total | 636 | 611 | 586 | 543 | 645 | 586 |
Total loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 85,338 | 87,410 | ||||
Total | 91,604 | 87,410 | ||||
Commercial real estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning Balance | 1,926 | 2,233 | 2,185 | 2,338 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 3 | 6 | 7 | 12 | ||
Provision | 189 | (78) | (74) | (189) | ||
Ending Balance | 2,118 | 2,161 | 2,118 | 2,161 | ||
Ending ALL balance attributable to loans: | ||||||
Individually evaluated for impairment | 0 | 5 | ||||
Acquired loans | 30,386 | |||||
Collectively evaluated for impairment | 2,118 | 2,180 | ||||
Total | 1,926 | 2,233 | 2,185 | 2,338 | 2,118 | 2,185 |
Total loans: | ||||||
Individually evaluated for impairment | 823 | 839 | ||||
Collectively evaluated for impairment | 123,681 | 128,852 | ||||
Total | 154,890 | 129,691 | ||||
Commercial business [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning Balance | 1,162 | 1,360 | 960 | 1,336 | ||
Charge-offs | 0 | (182) | 0 | (182) | ||
Recoveries | 0 | 0 | 0 | 20 | ||
Provision | (242) | 104 | (40) | 108 | ||
Ending Balance | 920 | 1,282 | 920 | 1,282 | ||
Ending ALL balance attributable to loans: | ||||||
Individually evaluated for impairment | 0 | 76 | ||||
Acquired loans | 1,505 | |||||
Collectively evaluated for impairment | 920 | 884 | ||||
Total | 1,162 | 1,360 | 960 | 1,336 | 920 | 960 |
Total loans: | ||||||
Individually evaluated for impairment | 690 | 999 | ||||
Collectively evaluated for impairment | 64,002 | 70,949 | ||||
Total | 66,197 | 71,948 | ||||
Consumer [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Beginning Balance | 51 | 48 | 45 | 52 | ||
Charge-offs | (6) | (6) | (15) | (29) | ||
Recoveries | 1 | 6 | 4 | 13 | ||
Provision | 6 | (1) | 18 | 11 | ||
Ending Balance | 52 | 47 | 52 | 47 | ||
Ending ALL balance attributable to loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Acquired loans | 300 | |||||
Collectively evaluated for impairment | 52 | 45 | ||||
Total | $ 51 | $ 48 | $ 45 | $ 52 | 52 | 45 |
Total loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 6,750 | 6,742 | ||||
Total | $ 7,050 | $ 6,742 |
Loans Receivable and Related 42
Loans Receivable and Related Allowance for Loan Losses (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | $ 609 | ||||
Recorded Investment | $ 643 | $ 643 | |||
Related Allowance | 78 | 78 | 47 | ||
Loans Receivable With Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 78 | $ 4,866 | 78 | $ 4,866 | 1,185 |
Recorded Investment | 78 | 3,925 | 78 | 3,925 | 1,185 |
Related Allowance | 19 | 585 | 19 | 585 | 110 |
Average Recorded Investment | 393 | 4,632 | 657 | 4,910 | 3,424 |
Interest Income Recognized in Period | 1 | 169 | 2 | 171 | 130 |
Cash Basis Interest Recognized in Period | 1 | 149 | 2 | 151 | 114 |
Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 2,003 | 878 | 2,003 | 878 | 1,221 |
Recorded Investment | 1,571 | 479 | 1,571 | 479 | 822 |
Average Recorded Investment | 1,280 | 725 | 1,127 | 823 | 1,180 |
Interest Income Recognized in Period | 1 | 8 | 4 | 15 | 59 |
Cash Basis Interest Recognized in Period | 1 | 8 | 4 | 15 | 50 |
Residential First Mortgages [Member] | Loans Receivable With Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 78 | 169 | 78 | 169 | 169 |
Recorded Investment | 78 | 169 | 78 | 169 | 169 |
Related Allowance | 19 | 27 | 19 | 27 | 29 |
Average Recorded Investment | 78 | 170 | 109 | 170 | 170 |
Interest Income Recognized in Period | 1 | 2 | 2 | 4 | 6 |
Cash Basis Interest Recognized in Period | 1 | 2 | 2 | 4 | 6 |
Residential First Mortgages [Member] | Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 91 | 0 | 91 | 0 | 0 |
Recorded Investment | 58 | 0 | 58 | 0 | 0 |
Average Recorded Investment | 58 | 55 | 38 | 75 | 45 |
Interest Income Recognized in Period | 0 | 7 | 2 | 7 | 7 |
Cash Basis Interest Recognized in Period | 0 | 7 | 2 | 7 | 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 | 0 | 0 |
Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Related Allowance | 0 | 0 | 0 | 0 | 0 |
Average Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Home equity and lines of credit [Member] | Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 0 | 0 | 0 | 0 | 0 |
Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Average Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Commercial real estate [Member] | Loans Receivable With Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 0 | 3,538 | 0 | 3,538 | 93 |
Recorded Investment | 0 | 2,597 | 0 | 2,597 | 93 |
Related Allowance | 0 | 216 | 0 | 216 | 5 |
Average Recorded Investment | 0 | 2,603 | 31 | 2,627 | 1,613 |
Interest Income Recognized in Period | 0 | 49 | 0 | 49 | 12 |
Cash Basis Interest Recognized in Period | 0 | 41 | 0 | 41 | 9 |
Commercial real estate [Member] | Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 1,222 | 805 | 1,222 | 805 | 1,145 |
Recorded Investment | 823 | 406 | 823 | 406 | 746 |
Average Recorded Investment | 840 | 608 | 809 | 690 | 1,069 |
Interest Income Recognized in Period | 0 | 1 | 1 | 6 | 49 |
Cash Basis Interest Recognized in Period | 0 | 1 | 1 | 6 | 40 |
Commercial business [Member] | Loans Receivable With Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 0 | 1,159 | 0 | 1,159 | 923 |
Recorded Investment | 0 | 1,159 | 0 | 1,159 | 923 |
Related Allowance | 0 | 342 | 0 | 342 | 76 |
Average Recorded Investment | 315 | 1,859 | 517 | 2,113 | 1,641 |
Interest Income Recognized in Period | 0 | 118 | 0 | 118 | 112 |
Cash Basis Interest Recognized in Period | 0 | 106 | 0 | 106 | 99 |
Commercial business [Member] | Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 690 | 73 | 690 | 73 | 76 |
Recorded Investment | 690 | 73 | 690 | 73 | 76 |
Average Recorded Investment | 382 | 62 | 280 | 58 | 66 |
Interest Income Recognized in Period | 1 | 0 | 1 | 2 | 3 |
Cash Basis Interest Recognized in Period | 1 | 0 | 1 | 2 | 3 |
Consumer [Member] | Loans Receivable With Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 0 | 0 | 0 | 0 | 0 |
Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Related Allowance | 0 | 0 | 0 | 0 | 0 |
Average Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Consumer [Member] | Loans Receivable With No Specific Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 0 | 0 | 0 | 0 | 0 |
Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Average Recorded Investment | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized in Period | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Recognized in Period | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Loans Receivable and Related 43
Loans Receivable and Related Allowance for Loan Losses (Details 3) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 504,155 | $ 435,096 |
Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 281,085 | 231,853 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 210,259 | 195,279 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 5,542 | 1,030 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 7,269 | 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 | 184,414 | 139,305 |
Residential first mortgages [Member] | Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 182,961 | 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 | 1,453 | 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 | 91,604 | 87,410 |
Home equity and lines of credit [Member] | Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 91,074 | 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 | 530 | 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 | 154,890 | 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 | 150,316 | 125,539 |
Commercial real estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 48 | 88 |
Commercial real estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 4,526 | 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 | 66,197 | 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 | 59,943 | 69,740 |
Commercial business [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 5,494 | 942 |
Commercial business [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 760 | 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 | 7,050 | 6,742 |
Consumer Loan [Member] | Not Rated [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | 7,050 | 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 44
Loans Receivable and Related Allowance for Loan Losses (Details 4) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | $ 496,491 | $ 430,512 |
Nonperforming, Nonaccrual | 3,215 | 3,069 |
Total Loans | 504,155 | 435,096 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 4,108 | 1,424 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 288 | 91 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 53 | 0 |
Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 181,180 | 136,924 |
Nonperforming, Nonaccrual | 1,146 | 1,209 |
Total Loans | 184,414 | 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 | 1,894 | 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 | 194 | 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 | 90,875 | 86,691 |
Nonperforming, Nonaccrual | 510 | 395 |
Total Loans | 91,604 | 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 | 128 | 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 | 91 | 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 | 0 | 0 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 152,184 | 128,945 |
Nonperforming, Nonaccrual | 869 | 746 |
Total Loans | 154,890 | 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 | 1,784 | 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 | 53 | 0 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Not Past Due | 65,265 | 71,229 |
Nonperforming, Nonaccrual | 690 | 719 |
Total Loans | 66,197 | 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 | 242 | 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 | 6,987 | 6,723 |
Nonperforming, Nonaccrual | 0 | 0 |
Total Loans | 7,050 | 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 | 60 | 19 |
Consumer [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Accruing Loans Past Due | 3 | 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 45
Loans Receivable and Related Allowance for Loan Losses (Details 5) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 3,215 | $ 3,069 |
Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,146 | 1,209 |
Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 510 | 395 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 869 | 746 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 690 | 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 | 1,326 | 1,402 |
Not Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 74 | 75 |
Not Past Due [Member] | Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 12 | 14 |
Not Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 579 | 623 |
Not Past Due [Member] | Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 661 | 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 | 4 | 0 |
30-59 Days Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 0 | 0 |
30-59 Days Past Due [Member] | Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 4 | 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 | 78 | 79 |
60-89 Days Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 78 | 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 | 1,807 | 1,588 |
90 Days + Past Due [Member] | Residential first mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 994 | 1,055 |
90 Days + Past Due [Member] | Home equity and lines of credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 494 | 381 |
90 Days + Past Due [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 290 | 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 46
Loans Receivable and Related Allowance for Loan Losses (Details Textual) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 406,000 | $ 835,000 |
Allowance For Losses Allocated To Loans Classified As Tdrs | 19,000 | 63,000 |
Deferred Finance Costs, Net | 1,200,000 | $ 835,000 |
Home Equity Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance For Losses Allocated To Loans Classified As Tdrs | 10,000 | |
Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Allowance For Losses Allocated To Loans Classified As Tdrs | $ 90,000 |
Goodwill and Intangible Asset47
Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill, Gross Carrying Amount | $ 10,291 | $ 3,664 |
Core deposit intangibles, Gross Carrying Amount | 4,259 | 4,027 |
Total, Gross Carrying Amount | 14,550 | 7,691 |
Goodwill, Accumulated Amortization | 0 | 0 |
Core deposit intangibles, Accumulated Amortization | 3,578 | 3,473 |
Total, Accumulated Amortization | $ 3,578 | $ 3,473 |
Goodwill and Intangible Asset48
Goodwill and Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Apr. 30, 2016 | Dec. 31, 2015 | |
Intangible asset amortization | $ 56,000 | $ 49,000 | $ 105,000 | $ 98,000 | ||
Goodwill | 10,291,000 | 10,291,000 | $ 3,664,000 | |||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 226,000 | 226,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 235,000 | 235,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 196,000 | 196,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 26,000 | 26,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 20,000 | 20,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 83,000 | 83,000 | ||||
United American Savings Bank [Member] | ||||||
Goodwill | 6,600,000 | 6,600,000 | $ 6,626,000 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 40,000 | 40,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 32,000 | 32,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 26,000 | 26,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 20,000 | 20,000 | ||||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | $ 83,000 | $ 83,000 |
Stock Compensation Plans (Detai
Stock Compensation Plans (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 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 | 8,640 | $ 9,000 |
Aggregate Intrinsic Value - Exercisable | $ 8,640 | |
Weighted-Average Remaining Term - Outstanding (in years) | 1 year 1 month 6 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 1 month 6 days |
Stock Compensation Plans (Det50
Stock Compensation Plans (Details 1) - Restricted Stock [Member] | 6 Months Ended |
Jun. 30, 2016$ / sharesshares | |
Nonvested, options, Beginning Balance (in shares) | shares | 23,450 |
Granted, options (in shares) | shares | 0 |
Vested, opitons (in shares) | shares | (1,500) |
Forfeited, options (in shares) | shares | 0 |
Nonvested, options, Ending Balance (in shares) | shares | 21,950 |
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 | 24.51 |
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 | $ 24.37 |
Stock Compensation Plans (Det51
Stock Compensation Plans (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 280,000 | $ 280,000 | ||
Allocated Share-based Compensation Expense | $ 64,000 | $ 55,000 | $ 110,000 | $ 108,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 7 months 6 days | |||
2014 Stock Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 176,866 | 176,866 | ||
2014 Stock Incentive Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 75,483 | 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 | 88,433 | ||
2007 Stock Incentive Plan and Trust [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 177,496 | 177,496 | ||
2007 Stock Incentive Plan and Trust [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,313 | 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 | 45,283 |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | $ 106,145 | $ 112,981 |
U.S. Treasury and federal agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 1,512 | 1,466 |
U.S. government sponsored entities and agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 8,407 | 8,953 |
U.S. agency mortgage-backed securities: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 29,504 | 33,150 |
U.S. agency collateralized mortgage obligations: residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 28,111 | 31,440 |
State and political subdivision [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 28,504 | 28,591 |
Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 8,058 | 7,487 |
Equity securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 2,049 | 1,894 |
Fair Value, Inputs, Level 1 [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 3,426 | 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 | 1,512 | 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 | 1,914 | 1,820 |
Fair Value, Inputs, Level 2 [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 102,584 | 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 | 8,407 | 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 | 29,504 | 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 | 28,111 | 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 | 28,504 | 28,591 |
Fair Value, Inputs, Level 2 [Member] | Corporate debt securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale | 8,058 | 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 | 135 | 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 | $ 135 | $ 74 |
Fair Value (Details 1)
Fair Value (Details 1) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Balance at the beginning of the period | $ 74 | $ 828 | $ 74 | $ 898 |
Total gains or losses (realized/unrealized): | ||||
Included in earnings | 0 | 0 | 0 | 0 |
Included in other comprehensive income | 1 | 7 | 1 | (63) |
Acquired | 60 | 0 | 60 | 0 |
Transfers in and/or out of Level 3 | 0 | 0 | 0 | 0 |
Balance at the end of the period | $ 135 | $ 835 | $ 135 | $ 835 |
Fair Value (Details 2)
Fair Value (Details 2) $ in Thousands | Dec. 31, 2015USD ($) |
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 | 596 |
Impaired commercial business loans [Member] | Fair Value, Inputs, Level 1 [Member] | |
Financing Receivable, Impaired [Line Items] | |
Unpaid Principal Balance | 0 |
Impaired commercial business loans [Member] | Fair Value, Inputs, Level 2 [Member] | |
Financing Receivable, Impaired [Line Items] | |
Unpaid Principal Balance | 0 |
Impaired commercial business loans [Member] | Fair Value, Inputs, Level 3 [Member] | |
Financing Receivable, Impaired [Line Items] | |
Unpaid Principal Balance | 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) $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
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 | $ 596 |
Fair Value Measurements, Valuation Techniques | Liquidation value of business assets |
Fair Value Measurements Unobservable Inputs | Adjustment for differences between comparable business assets |
Mortgage Loans on Real Estate, Interest Rate | 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 | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Financial Assets: | ||||
Cash and cash equivalents - Carrying Amount | $ 38,561 | $ 11,546 | $ 11,909 | $ 11,856 |
Securities available for sale - Carrying Amount | 106,145 | 112,981 | ||
Loans, net - Carrying Amount | 498,724 | 429,891 | ||
Federal bank stock - Carrying Amount | 3,764 | 4,240 | ||
Accrued interest receivable - Carrying Amount | 1,837 | 1,501 | ||
Financial Assets - Carrying Amount, Total | 649,031 | 560,159 | ||
Financial Liabilities: | ||||
Deposits - Carrying Amount | 596,886 | 489,887 | ||
Borrowed funds - Carrying Amount | 37,500 | 49,250 | ||
Accrued interest payable - Carrying Amount | 254 | 179 | ||
Financial Liabilities - Carrying Amount, Total | 634,640 | 539,316 | ||
Financial Assets: | ||||
Cash and cash equivalents - Fair Value | 38,561 | 11,546 | ||
Securities available for sale - Fair Value | 106,145 | 112,981 | ||
Loans, net - Fair Value | 510,898 | 436,009 | ||
Federal bank stock - Fair Value | 0 | 0 | ||
Accrued interest receivable - Fair Value | 1,837 | 1,501 | ||
Financial Assets - Fair Value, Total | 657,441 | 562,037 | ||
Financial Liabilities: | ||||
Deposits - Fair Value | 599,829 | 491,781 | ||
Borrowed funds - Fair Value | 39,544 | 50,636 | ||
Accrued interest payable - Fair Value | 254 | 179 | ||
Financial Liabilities - Fair Value, Total | 639,627 | 542,596 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial Assets: | ||||
Securities available for sale - Carrying Amount | 3,426 | 3,286 | ||
Financial Assets: | ||||
Cash and cash equivalents - Fair Value | 38,561 | 11,546 | ||
Securities available for sale - Fair Value | 3,426 | 3,286 | ||
Loans, net - Fair Value | 0 | 0 | ||
Federal bank stock - Fair Value | 0 | 0 | ||
Accrued interest receivable - Fair Value | 53 | 64 | ||
Financial Assets - Fair Value, Total | 42,040 | 14,896 | ||
Financial Liabilities: | ||||
Deposits - Fair Value | 422,785 | 376,409 | ||
Borrowed funds - Fair Value | 0 | 0 | ||
Accrued interest payable - Fair Value | 6 | 5 | ||
Financial Liabilities - Fair Value, Total | 422,791 | 376,414 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial Assets: | ||||
Securities available for sale - Carrying Amount | 102,584 | 109,621 | ||
Financial Assets: | ||||
Cash and cash equivalents - Fair Value | 0 | 0 | ||
Securities available for sale - Fair Value | 102,584 | 109,621 | ||
Loans, net - Fair Value | 0 | 0 | ||
Federal bank stock - Fair Value | 0 | 0 | ||
Accrued interest receivable - Fair Value | 336 | 299 | ||
Financial Assets - Fair Value, Total | 102,920 | 109,920 | ||
Financial Liabilities: | ||||
Deposits - Fair Value | 177,044 | 115,372 | ||
Borrowed funds - Fair Value | 39,544 | 50,636 | ||
Accrued interest payable - Fair Value | 248 | 174 | ||
Financial Liabilities - Fair Value, Total | 216,836 | 166,182 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial Assets: | ||||
Securities available for sale - Carrying Amount | 135 | 74 | ||
Financial Assets: | ||||
Cash and cash equivalents - Fair Value | 0 | 0 | ||
Securities available for sale - Fair Value | 135 | 74 | ||
Loans, net - Fair Value | 510,898 | 436,009 | ||
Federal bank stock - Fair Value | 0 | 0 | ||
Accrued interest receivable - Fair Value | 1,448 | 1,138 | ||
Financial Assets - Fair Value, Total | 512,481 | 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 | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Fair Values Of Financial Instruments [Line Items] | |||||
Impaired Financing Receivable, Recorded Investment | $ 643,000 | $ 643,000 | |||
Impaired Financing Receivable, Related Allowance | 78,000 | $ 78,000 | $ 47,000 | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 13,000 | ||||
SEC Schedule III, Real Estate, Gross | 22,000 | ||||
Commercial Real Estate Loan Discounting Rate | 10.00% | ||||
Provision For Loan Losses Expensed | 121,000 | $ 203,000 | $ 302,000 | $ 371,000 | |
SEC Schedule III, Real Estate, Write-down or Reserve, Amount | 0 | 3,000 | 9,000 | ||
Financing Receivable, Modifications, Recorded Investment | $ 406,000 | $ 406,000 | 835,000 | ||
Impaired Loans [Member] | |||||
Fair Values Of Financial Instruments [Line Items] | |||||
Provision For Loan Losses Expensed | $ 235,000 | $ 235,000 | |||
Two Impaired Commercial Real Estate Loan [Member] | |||||
Fair Values Of Financial Instruments [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 140,000 | ||||
Impaired Residential Mortgage Loan Two [Member] | |||||
Fair Values Of Financial Instruments [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | 89,000 | ||||
Commercial Business Loan [Member] | |||||
Fair Values Of Financial Instruments [Line Items] | |||||
Financing Receivable, Modifications, Recorded Investment | $ 250,000 |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk-weighted assets, Actual, Amount | $ 57,760 | $ 56,090 |
Total capital to risk-weighted assets, For capital adequacy purposes, Amount | 35,977 | 32,070 |
Total capital to risk-weighted assets, To be well capitalized, Amount | 44,971 | 40,087 |
Tier 1 capital to risk-weighted assets, Actual, Amount | 52,325 | 51,073 |
Tier 1 capital to risk-weighted assets, For capital adequacy purposes, Amount | 26,982 | 24,052 |
Tier 1 capital to risk-weighted assets, To be well capitalized, Amount | 35,977 | 32,070 |
Common Equity Tier 1 capital to risk-weighted assets, Actual, Amount | 52,325 | 51,073 |
Common Equity Tier 1 capital to risk-weighted assets, For capital adequacy purposes, Amount | 20,237 | 18,039 |
Common Equity Tier 1 capital to risk-weighted assets, To be well capitalized, Amount | 29,231 | 26,057 |
Tier 1 capital to average assets, Actual, Amount | 52,325 | 51,073 |
Tier 1 capital to average assets, For capital adequacy purposes, Amount | 27,269 | 23,131 |
Tier 1 capital to average assets, To be well capitalized, Amount | $ 34,086 | $ 28,914 |
Total capital to risk-weighted assets, Actual, Ratio | 12.84% | 13.99% |
Total capital to risk-weighted assets, For capital adequacy purposes, Ratio | 8.00% | 8.00% |
Total capital to risk-weighted assets, To be well capitalized, Ratio | 10.00% | 10.00% |
Tier 1 capital to risk-weighted assets, Actual, Ratio | 11.64% | 12.74% |
Tier 1 capital to risk-weighted assets, For capital adequacy purposes, Ratio | 6.00% | 6.00% |
Tier 1 capital to risk-weighted assets, To be well capitalized, Ratio | 8.00% | 8.00% |
Common Equity Tier 1 capital to risk-weighted assets, Actual, Ratio | 11.64% | 12.74% |
Common Equity Tier 1 capital to risk-weighted assets, For capital adequacy purposes, Ratio | 4.50% | 4.50% |
Common Equity Tier 1 capital to risk-weighted assets, To be well capitalized, Ratio | 6.50% | 6.50% |
Tier 1 capital to average assets, Actual, Ratio | 7.68% | 8.83% |
Tier 1 capital to average assets, For capital adequacy purposes, Ratio | 4.00% | 4.00% |
Tier 1 capital to average assets, To be well capitalized, Ratio | 5.00% | 5.00% |
Regulatory Matters (Details Tex
Regulatory Matters (Details Textual) | 6 Months Ended |
Jun. 30, 2016 | |
Changes In Consolidated Assets Threshold Policy | In 2015, the Board of Governors of the Federal Reserve System amended its Small Bank Holding Company Policy Statement by increasing the policys consolidated assets threshold from $500 million to $1 billion. |
Accumulated Other Comprehensi60
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Unrealized Gains and Losses on Available-for-Sale Securities, Beginning Balance | $ 630 | $ 883 | $ (248) | $ 198 |
Other comprehensive income before reclassification, Unrealized Gains and Losses on Available-for-Sale Securities | 461 | (829) | 1,340 | (144) |
Amounts reclassified from accumulated other comprehensive income (loss), Unrealized Gains and Losses on Available-for-Sale Securities | (53) | (22) | (55) | (22) |
Net of tax | 408 | (851) | 1,285 | (166) |
Accumulated Other Comprehensive Income (Loss), Unrealized Gains and Losses on Available-for-Sale Securities, Ending Balance | 1,038 | 32 | 1,038 | 32 |
Accumulated Other Comprehensive Income (Loss), Defined Benefit Pension Items, Beginning Balance | (3,514) | (3,196) | (3,514) | (3,196) |
Other comprehensive income before reclassification, Defined Benefit Pension Items | 0 | 0 | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income (loss), Defined Benefit Pension Items | 0 | 0 | 0 | 0 |
Net current period other comprehensive income, Defined Benefit Pension Items | 0 | 0 | 0 | 0 |
Accumulated Other Comprehensive Income (Loss), Defined Benefit Pension Items, Ending Balance | (3,514) | (3,196) | (3,514) | (3,196) |
Accumulated Other Comprehensive Income (Loss), Totals, Beginning Balance | (2,884) | (2,313) | (3,762) | (2,998) |
Other comprehensive income before reclassification, Totals | 461 | (829) | 1,340 | (144) |
Amounts reclassified from accumulated other comprehensive income (loss), Totals | (53) | (22) | (55) | (22) |
Net current period other comprehensive income, Totals | 408 | (851) | 1,285 | (166) |
Accumulated Other Comprehensive Income (Loss), Totals, Ending Balance | $ (2,476) | $ (3,164) | $ (2,476) | $ (3,164) |
Accumulated Other Comprehensi61
Accumulated Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Unrealized gains and losses on available-for-sale securities | ||||
Total reclassifications for the period | $ (53) | $ (22) | $ (55) | $ (22) |
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 | 81 | 34 | 83 | 34 |
Provision for income taxes | (28) | (12) | (28) | (12) |
Total reclassifications for the period | $ 53 | $ 22 | $ 55 | $ 22 |