Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Document Fiscal Year Focus | '2014 | ' |
Entity Registrant Name | 'FINANCIAL INSTITUTIONS INC | ' |
Entity Central Index Key | '0000862831 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 13,863,226 |
Consolidated_Statements_Of_Fin
Consolidated Statements Of Financial Condition (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents: | ' | ' |
Cash and due from banks | $64,738 | $59,598 |
Federal funds sold and interest-bearing deposits in other banks | 94 | 94 |
Total cash and cash equivalents | 64,832 | 59,692 |
Securities available for sale, at fair value | 601,903 | 609,400 |
Securities held to maturity, at amortized cost (fair value of $266,640 and $250,657, respectively) | 262,057 | 249,785 |
Loans held for sale | 201 | 3,381 |
Loans (net of allowance for loan losses of $27,166 and $26,736, respectively) | 1,869,498 | 1,806,883 |
Company owned life insurance | 50,033 | 49,171 |
Premises and equipment, net | 35,925 | 36,009 |
Goodwill and other intangible assets, net | 49,826 | 50,002 |
Other assets | 58,989 | 64,313 |
Total assets | 2,993,264 | 2,928,636 |
Deposits: | ' | ' |
Noninterest-bearing demand | 551,229 | 535,472 |
Interest-bearing demand | 507,083 | 470,733 |
Savings and money market | 766,594 | 717,928 |
Certificates of deposit | 625,172 | 595,923 |
Total deposits | 2,450,078 | 2,320,056 |
Short-term borrowings | 254,683 | 337,042 |
Other liabilities | 18,676 | 16,699 |
Total liabilities | 2,723,437 | 2,673,797 |
Shareholders' equity: | ' | ' |
Total preferred equity | 17,340 | 17,342 |
Common stock, $0.01 par value, 50,000,000 shares authorized; 14,161,597 shares issued | 142 | 142 |
Additional paid-in capital | 67,223 | 67,574 |
Retained earnings | 194,418 | 186,137 |
Accumulated other comprehensive (loss) income | -3,720 | -10,187 |
Treasury stock, at cost - 299,121 and 332,242 shares, respectively | -5,576 | -6,169 |
Total shareholders' equity | 269,827 | 254,839 |
Total liabilities and shareholders' equity | 2,993,264 | 2,928,636 |
Series A 3% Preferred Stock [Member] | ' | ' |
Shareholders' equity: | ' | ' |
Total preferred equity | 149 | 149 |
Series B-1 8.48% Preferred Stock [Member] | ' | ' |
Shareholders' equity: | ' | ' |
Total preferred equity | $17,191 | $17,193 |
Consolidated_Statements_Of_Fin1
Consolidated Statements Of Financial Condition (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Securities held to maturity, fair value | $266,640 | $250,657 |
Loans, allowance for loan losses | $27,166 | $26,736 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 14,161,597 | 14,161,597 |
Treasury stock, shares | 299,121 | 332,242 |
Series A 3% Preferred Stock [Member] | ' | ' |
Preferred stock, par value | $100 | $100 |
Preferred stock, shares authorized | 1,533 | 1,533 |
Preferred stock, shares issued | 1,492 | 1,496 |
Series B-1 8.48% Preferred Stock [Member] | ' | ' |
Preferred stock, par value | $100 | $100 |
Preferred stock, shares authorized | 200,000 | 200,000 |
Preferred stock, shares issued | 171,906 | 171,927 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Interest income: | ' | ' | ' | ' |
Interest and fees on loans | $20,230 | $20,064 | $40,497 | $40,443 |
Interest and dividends on investment securities | 4,653 | 4,278 | 9,445 | 8,647 |
Total interest income | 24,883 | 24,342 | 49,942 | 49,090 |
Interest expense: | ' | ' | ' | ' |
Deposits | 1,577 | 1,665 | 3,102 | 3,336 |
Short-term borrowings | 203 | 153 | 462 | 343 |
Total interest expense | 1,780 | 1,818 | 3,564 | 3,679 |
Net interest income | 23,103 | 22,524 | 46,378 | 45,411 |
Provision for loan losses | 1,758 | 1,193 | 3,864 | 3,902 |
Net interest income after provision for loan losses | 21,345 | 21,331 | 42,514 | 41,509 |
Noninterest income: | ' | ' | ' | ' |
Service charges on deposits | 2,241 | 2,568 | 4,491 | 4,709 |
ATM and debit card | 1,257 | 1,317 | 2,431 | 2,566 |
Investment advisory | 561 | 650 | 1,124 | 1,349 |
Company owned life insurance | 425 | 438 | 828 | 853 |
Investments in limited partnerships | 81 | 136 | 707 | 297 |
Loan servicing | 176 | 152 | 330 | 225 |
Net gain on disposal of investment securities | 949 | 332 | 1,262 | 1,224 |
Net gain on sale of loans held for sale | 50 | 35 | 155 | 235 |
Net gain (loss) on disposal of other assets | 24 | 38 | -11 | 39 |
Other | 813 | 710 | 1,617 | 1,432 |
Total noninterest income | 6,577 | 6,376 | 12,934 | 12,929 |
Noninterest expense: | ' | ' | ' | ' |
Salaries and employee benefits | 9,063 | 9,226 | 18,319 | 18,935 |
Occupancy and equipment | 3,139 | 3,035 | 6,374 | 6,204 |
Professional services | 1,384 | 1,093 | 2,356 | 2,030 |
Computer and data processing | 777 | 812 | 1,500 | 1,516 |
Supplies and postage | 535 | 608 | 1,047 | 1,288 |
FDIC assessments | 388 | 364 | 810 | 725 |
Advertising and promotions | 214 | 253 | 393 | 467 |
Other | 2,308 | 2,071 | 4,222 | 3,881 |
Total noninterest expense | 17,808 | 17,462 | 35,021 | 35,046 |
Income before income taxes | 10,114 | 10,245 | 20,427 | 19,392 |
Income tax expense | 3,082 | 3,395 | 6,176 | 6,393 |
Net income | 7,032 | 6,850 | 14,251 | 12,999 |
Preferred stock dividends | 365 | 367 | 731 | 735 |
Net income available to common shareholders | $6,667 | $6,483 | $13,520 | $12,264 |
Earnings per common share (Note 2): | ' | ' | ' | ' |
Basic | $0.48 | $0.47 | $0.98 | $0.89 |
Diluted | $0.48 | $0.47 | $0.98 | $0.89 |
Cash dividends declared per common share | $0.19 | $0.18 | $0.38 | $0.36 |
Weighted average common shares outstanding: | ' | ' | ' | ' |
Basic | 13,791 | 13,739 | 13,782 | 13,728 |
Diluted | 13,838 | 13,767 | 13,831 | 13,767 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Consolidated Statements Of Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' |
Net income | $7,032 | $6,850 | $14,251 | $12,999 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Net unrealized gains (losses) on securities available for sale | 2,684 | -14,470 | 6,428 | -16,785 |
Pension and post-retirement obligations | 20 | 199 | 39 | 398 |
Total other comprehensive income (loss), net of tax | 2,704 | -14,271 | 6,467 | -16,387 |
Comprehensive income (loss) | $9,736 | ($7,421) | $20,718 | ($3,388) |
Consolidated_Statement_Of_Chan
Consolidated Statement Of Changes In Shareholders' Equity (USD $) | Series A 3% Preferred Stock [Member] | Series A 3% Preferred Stock [Member] | Series B-1 8.48% Preferred Stock [Member] | Series B-1 8.48% Preferred Stock [Member] | Series B-1 8.48% Preferred Stock [Member] | Series B-1 8.48% Preferred Stock [Member] | Preferred Equity [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
In Thousands, unless otherwise specified | Retained Earnings [Member] | Preferred Equity [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | |||||||||
Balance at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | $17,471 | $142 | $67,710 | $172,244 | $3,253 | ($6,923) | $253,897 |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,999 | ' | ' | 12,999 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -16,387 | ' | -16,387 |
Stock repurchases | ' | ' | -77 | -2 | ' | -79 | ' | ' | ' | ' | ' | -229 | -229 |
Share-based compensation plans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 205 | ' | ' | ' | 205 |
Stock options exercised | ' | ' | ' | ' | ' | ' | ' | ' | -3 | ' | ' | 62 | 59 |
Restricted stock awards issued, net | ' | ' | ' | ' | ' | ' | ' | ' | -427 | ' | ' | 427 | ' |
Excess tax benefit on share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | -10 | ' | ' | ' | -10 |
Directors' retainer | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | 105 | 112 |
Cash dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividends per share | -2 | -2 | ' | ' | -733 | -733 | ' | ' | ' | ' | ' | ' | -735 |
Common stock dividends per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,944 | ' | ' | -4,944 |
Balance at Jun. 30, 2013 | ' | ' | ' | ' | ' | ' | 17,394 | 142 | 67,480 | 179,564 | -13,134 | -6,558 | 244,888 |
Balance at Dec. 31, 2013 | ' | ' | ' | ' | ' | ' | 17,342 | 142 | 67,574 | 186,137 | -10,187 | -6,169 | 254,839 |
Comprehensive income: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,251 | ' | ' | 14,251 |
Other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,467 | ' | 6,467 |
Stock repurchases | ' | ' | -2 | ' | ' | -2 | ' | ' | ' | ' | ' | -195 | -195 |
Share-based compensation plans: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 305 | ' | ' | ' | 305 |
Stock options exercised | ' | ' | ' | ' | ' | ' | ' | ' | -1 | ' | ' | 133 | 132 |
Restricted stock awards issued, net | ' | ' | ' | ' | ' | ' | ' | ' | -655 | ' | ' | 655 | ' |
Cash dividends declared: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividends per share | -2 | -2 | ' | ' | -729 | -729 | ' | ' | ' | ' | ' | ' | -731 |
Common stock dividends per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,239 | ' | ' | -5,239 |
Balance at Jun. 30, 2014 | ' | ' | ' | ' | ' | ' | $17,340 | $142 | $67,223 | $194,418 | ($3,720) | ($5,576) | $269,827 |
Consolidated_Statement_Of_Chan1
Consolidated Statement Of Changes In Shareholders' Equity (Parenthetical) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Common stock dividends per share, declared | $0.38 | $0.36 |
Series A 3% Preferred Stock [Member] | ' | ' |
Preferred stock dividends per share, declared | $1.50 | $1.50 |
Preferred stock, dividend percentage | 3.00% | 3.00% |
Series B-1 8.48% Preferred Stock [Member] | ' | ' |
Preferred stock dividends per share, declared | $4.24 | $4.24 |
Preferred stock, dividend percentage | 8.48% | 8.48% |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities: | ' | ' | ' | ' |
Net income | $7,032 | $6,850 | $14,251 | $12,999 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | 2,061 | 2,099 |
Net amortization of premiums on securities | ' | ' | 1,582 | 2,560 |
Provision for loan losses | 1,758 | 1,193 | 3,864 | 3,902 |
Share-based compensation | 202 | 103 | 305 | 205 |
Deferred income tax expense | ' | ' | 1,066 | 2,771 |
Proceeds from sale of loans held for sale | ' | ' | 7,705 | 19,379 |
Originations of loans held for sale | ' | ' | -5,223 | -21,049 |
Increase in company owned life insurance | -425 | -438 | -828 | -853 |
Net gain on sale of loans held for sale | -50 | -35 | -155 | -235 |
Net gain on disposal of investment securities | -949 | -332 | -1,262 | -1,224 |
Net loss (gain) on sale and disposal of other assets | -24 | -38 | 11 | -39 |
Decrease in other assets | ' | ' | 288 | 6,562 |
Decrease in other liabilities | ' | ' | -249 | -511 |
Net cash provided by operating activities | ' | ' | 23,416 | 26,566 |
Cash flows from investing activities: | ' | ' | ' | ' |
Purchases of available for sale securities | ' | ' | -125,419 | -160,140 |
Purchases of held to maturity securities | ' | ' | -28,594 | -5,166 |
Proceeds from principal payments, maturities and calls on available for sale securities | ' | ' | 83,904 | 94,956 |
Proceeds from principal payments, maturities and calls on held to maturity securities | ' | ' | 16,491 | 5,723 |
Proceeds from sales of securities available for sale | 41,958 | 375 | 61,428 | 1,327 |
Net loan originations | ' | ' | -65,937 | -41,340 |
Purchases of company owned life insurance | ' | ' | -34 | -34 |
Proceeds from sales of other assets | ' | ' | 623 | 467 |
Purchases of premises and equipment | ' | ' | -2,371 | -2,258 |
Net cash used in investing activities | ' | ' | -59,909 | -106,465 |
Cash flows from financing activities: | ' | ' | ' | ' |
Net increase in deposits | ' | ' | 130,022 | 62,442 |
Net (decrease) increase in short-term borrowings | ' | ' | -82,359 | 13,607 |
Repurchase of preferred stock | ' | ' | -2 | -79 |
Purchase of common stock for treasury | ' | ' | -195 | -229 |
Proceeds from stock options exercised | ' | ' | 132 | 59 |
Excess tax benefit on share-based compensation, net | ' | ' | ' | -10 |
Cash dividends paid to common and preferred shareholders | ' | ' | -5,965 | -5,400 |
Net cash provided by financing activities | ' | ' | 41,633 | 70,390 |
Net increase (decrease) in cash and cash equivalents | ' | ' | 5,140 | -9,509 |
Cash and cash equivalents, beginning of period | ' | ' | 59,692 | 60,436 |
Cash and cash equivalents, end of period | 64,832 | 50,927 | 64,832 | 50,927 |
Supplemental information: | ' | ' | ' | ' |
Cash paid for interest | ' | ' | 3,313 | 3,679 |
Cash paid for income taxes | ' | ' | 8,313 | 1,697 |
Noncash investing and financing activities: | ' | ' | ' | ' |
Real estate and other assets acquired in settlement of loans | ' | ' | 311 | 626 |
Accrued and declared unpaid dividends | 2,986 | 2,841 | 2,986 | 2,841 |
Increase (decrease) in net unsettled security purchases | 2,260 | -47,972 | 2,260 | -47,972 |
Loans transferred from held for sale to held for investment | ' | ' | $853 | ' |
Basis_of_Presentation_And_Summ
Basis of Presentation And Summary Of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2014 | |
Basis of Presentation And Summary Of Significant Accounting Policies [Abstract] | ' |
Basis Of Presentation And Summary Of Significant Accounting Policies | ' |
(1.) BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Nature of Operations | |
Financial Institutions, Inc., is a financial holding company organized in 1931 under the laws of New York State ("New York" or "NYS"). Through its wholly-owned New York chartered banking subsidiary, Five Star Bank, Financial Institutions, Inc. offers a broad array of deposit, lending and other financial services to individuals, municipalities and businesses in Western and Central New York. The Company has also expanded its indirect lending network to include relationships with franchised automobile dealers in the Capital District of New York and Northern Pennsylvania. References to "the Company" mean the consolidated reporting entities and references to "the Bank" mean Five Star Bank. | |
Basis of Presentation | |
The consolidated financial statements include the accounts of Financial Institutions, Inc. and its subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation. The accounting and reporting policies conform to U.S. generally accepted accounting principles ("GAAP"). Certain information and footnote disclosures normally included in financial statements prepared in conformity with GAAP have been condensed or omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying consolidated financial statements reflect all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated statements of financial condition, income, comprehensive income, changes in shareholders' equity and cash flows for the periods indicated, and contain adequate disclosure to make the information presented not misleading. Prior years' consolidated financial statements are re-classified whenever necessary to conform to the current year's presentation. These consolidated financial statements should be read in conjunction with the Company's 2013 Annual Report on Form 10-K. The results of operations for any interim periods are not necessarily indicative of the results which may be expected for the entire year. | |
Subsequent Events | |
The Company has evaluated events and transactions for potential recognition or disclosure through the day the financial statements were issued. Other than completing the acquisition of Scott Danahy Naylon Co., Inc. ("SDN"), as described below, the Company did not have any material recognizable subsequent events. | |
On August 1, 2014, the Company completed its acquisition of SDN, a full service insurance agency located in Amherst, New York. SDN provides a broad range of insurance services to both personal and business clients. SDN will operate as a subsidiary of Financial Institutions, Inc. and an affiliate of Five Star Bank. | |
Use of Estimates | |
The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates relate to the determination of the allowance for loan losses, the carrying value of goodwill and deferred tax assets, the valuation and other than temporary impairment ("OTTI") considerations related to the securities portfolio, and assumptions used in the defined benefit pension plan accounting. | |
Recent Accounting Pronouncements | |
In January 2014, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2014-04, | |
Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The objective of this guidance is to clarify when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. ASU No. 2014-04 states that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, ASU No. 2014-04 requires interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU No. 2014-04 is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of ASU No. 2014-04 is not expected to have a material impact on the Company's consolidated statements of income and condition. | |
Earnings_Per_Common_Share_EPS
Earnings Per Common Share ("EPS") | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Earnings Per Common Share ("EPS") [Abstract] | ' | ||||||||||||
Earnings Per Common Share ("EPS") | ' | ||||||||||||
(2.) EARNINGS PER COMMON SHARE ("EPS") | |||||||||||||
The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS (in thousands, except per share amounts). | |||||||||||||
Three months ended | Six months ended | ||||||||||||
June 30, | June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Net income available to common shareholders | $ | 6,667 | $ | 6,483 | $ | 13,520 | $ | 12,264 | |||||
Weighted average common shares outstanding: | |||||||||||||
Total shares issued | 14,162 | 14,162 | 14,162 | 14,162 | |||||||||
Unvested restricted stock awards | (67 | ) | (66 | ) | (65 | ) | (73 | ) | |||||
Treasury shares | (304 | ) | (357 | ) | (315 | ) | (361 | ) | |||||
Total basic weighted average common shares outstanding | 13,791 | 13,739 | 13,782 | 13,728 | |||||||||
Incremental shares from assumed: | |||||||||||||
Exercise of stock options | 28 | 5 | 25 | 6 | |||||||||
Vesting of restricted stock awards | 19 | 23 | 24 | 33 | |||||||||
Total diluted weighted average common shares outstanding | 13,838 | 13,767 | 13,831 | 13,767 | |||||||||
Basic earnings per common share | $ | 0.48 | $ | 0.47 | $ | 0.98 | $ | 0.89 | |||||
Diluted earnings per common share | $ | 0.48 | $ | 0.47 | $ | 0.98 | $ | 0.89 | |||||
For each of the periods presented, average shares subject to the following instruments were excluded from the computation of diluted EPS because the effect would be antidilutive: | |||||||||||||
Stock options | - | 225 | 7 | 188 | |||||||||
Restricted stock awards | 3 | 9 | 1 | 5 | |||||||||
3 | 234 | 8 | 193 | ||||||||||
Investment_Securities
Investment Securities | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||
Investment Securities | ' | ||||||||||||
(3.) INVESTMENT SECURITIES | |||||||||||||
The amortized cost and fair value of investment securities are summarized below (in thousands): | |||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
30-Jun-14 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 134,448 | $ | 1,719 | $ | 1,050 | $ | 135,117 | |||||
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 172,449 | 1,993 | 2,217 | 172,225 | |||||||||
Federal Home Loan Mortgage Corporation | 32,922 | 894 | 10 | 33,806 | |||||||||
Government National Mortgage Association | 62,946 | 2,551 | 54 | 65,443 | |||||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 63,224 | 431 | 1,427 | 62,228 | |||||||||
Federal Home Loan Mortgage Corporation | 96,922 | 215 | 3,289 | 93,848 | |||||||||
Government National Mortgage Association | 36,852 | 911 | 73 | 37,690 | |||||||||
Privately issued | - | 1,315 | - | 1,315 | |||||||||
Total collateralized mortgage obligations | 196,998 | 2,872 | 4,789 | 195,081 | |||||||||
Total mortgage-backed securities | 465,315 | 8,310 | 7,070 | 466,555 | |||||||||
Asset-backed securities | - | 231 | - | 231 | |||||||||
Total available for sale securities | $ | 599,763 | $ | 10,260 | $ | 8,120 | $ | 601,903 | |||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | $ | 262,057 | $ | 4,661 | $ | 78 | $ | 266,640 | |||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
31-Dec-13 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 135,840 | $ | 1,414 | $ | 2,802 | $ | 134,452 | |||||
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 173,507 | 1,511 | 4,810 | 170,208 | |||||||||
Federal Home Loan Mortgage Corporation | 36,737 | 562 | 205 | 37,094 | |||||||||
Government National Mortgage Association | 61,832 | 2,152 | 142 | 63,842 | |||||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 63,838 | 261 | 3,195 | 60,904 | |||||||||
Federal Home Loan Mortgage Corporation | 102,660 | 169 | 5,856 | 96,973 | |||||||||
Government National Mortgage Association | 43,734 | 913 | 586 | 44,061 | |||||||||
Privately issued | - | 1,467 | - | 1,467 | |||||||||
Total collateralized mortgage obligations | 210,232 | 2,810 | 9,637 | 203,405 | |||||||||
Total mortgage-backed securities | 482,308 | 7,035 | 14,794 | 474,549 | |||||||||
Asset-backed securities | 18 | 381 | - | 399 | |||||||||
Total available for sale securities | $ | 618,166 | $ | 8,830 | $ | 17,596 | $ | 609,400 | |||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | $ | 249,785 | $ | 1,340 | $ | 468 | $ | 250,657 | |||||
Investment securities with a total fair value of $745.5 million and $763.1 million at June 30, 2014 and December 31, 2013, respectively, were pledged as collateral to secure public deposits and for other purposes required or permitted by law. | |||||||||||||
The scheduled maturities of securities available for sale and securities held to maturity at June 30, 2014 are shown below (in thousands). | |||||||||||||
Actual expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. | |||||||||||||
Amortized | Fair | ||||||||||||
Cost | Value | ||||||||||||
Debt securities available for sale: | |||||||||||||
Due in one year or less | $ | 25,204 | $ | 25,204 | |||||||||
Due from one to five years | 83,162 | 84,857 | |||||||||||
Due after five years through ten years | 205,664 | 205,297 | |||||||||||
Due after ten years | 285,733 | 286,545 | |||||||||||
$ | 599,763 | $ | 601,903 | ||||||||||
Debt securities held to maturity: | |||||||||||||
Due in one year or less | $ | 23,466 | $ | 23,556 | |||||||||
Due from one to five years | 132,765 | 134,973 | |||||||||||
Due after five years through ten years | 105,784 | 108,057 | |||||||||||
Due after ten years | 42 | 54 | |||||||||||
$ | 262,057 | $ | 266,640 | ||||||||||
Sales and calls of securities available for sale were as follows (in thousands): | |||||||||||||
Three months ended | Six months ended | ||||||||||||
June 30, | June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Proceeds from sales and calls | $ | 41,958 | $ | 375 | $ | 61,428 | $ | 1,327 | |||||
Gross realized gains | 949 | 332 | 1,262 | 1,224 | |||||||||
Unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows (in thousands): | |||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||
30-Jun-14 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 30,830 | $ | 2 | $ | 41,159 | $ | 1,048 | $ | 71,989 | $ | 1,050 | |
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 34,572 | 107 | 64,582 | 2,110 | 99,154 | 2,217 | |||||||
Federal Home Loan Mortgage Corporation | - | - | 3,750 | 10 | 3,750 | 10 | |||||||
Government National Mortgage Association | 5,440 | 54 | - | - | 5,440 | 54 | |||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 9,010 | 22 | 37,314 | 1,405 | 46,324 | 1,427 | |||||||
Federal Home Loan Mortgage Corporation | 2,619 | 22 | 83,809 | 3,267 | 86,428 | 3,289 | |||||||
Government National Mortgage Association | - | - | 5,683 | 73 | 5,683 | 73 | |||||||
Total collateralized mortgage obligations | 11,629 | 44 | 126,806 | 4,745 | 138,435 | 4,789 | |||||||
Total mortgage-backed securities | 51,641 | 205 | 195,138 | 6,865 | 246,779 | 7,070 | |||||||
Total available for sale securities | 82,471 | 207 | 236,297 | 7,913 | 318,768 | 8,120 | |||||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | 13,285 | 78 | - | - | 13,285 | 78 | |||||||
Total | $ | 95,756 | $ | 285 | $ | 236,297 | $ | 7,913 | $ | 332,053 | $ | 8,198 | |
31-Dec-13 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 86,177 | $ | 2,788 | $ | 2,717 | $ | 14 | $ | 88,894 | $ | 2,802 | |
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 103,778 | 3,491 | 20,689 | 1,319 | 124,467 | 4,810 | |||||||
Federal Home Loan Mortgage Corporation | 14,166 | 205 | - | - | 14,166 | 205 | |||||||
Government National Mortgage Association | 14,226 | 142 | - | - | 14,226 | 142 | |||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 35,632 | 2,586 | 11,760 | 609 | 47,392 | 3,195 | |||||||
Federal Home Loan Mortgage Corporation | 72,655 | 4,980 | 15,762 | 876 | 88,417 | 5,856 | |||||||
Government National Mortgage Association | 8,396 | 586 | - | - | 8,396 | 586 | |||||||
Total collateralized mortgage obligations | 116,683 | 8,152 | 27,522 | 1,485 | 144,205 | 9,637 | |||||||
Total mortgage-backed securities | 248,853 | 11,990 | 48,211 | 2,804 | 297,064 | 14,794 | |||||||
Total available for sale securities | 335,030 | 14,778 | 50,928 | 2,818 | 385,958 | 17,596 | |||||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | 72,269 | 468 | - | - | 72,269 | 468 | |||||||
Total | $ | 407,299 | $ | 15,246 | $ | 50,928 | $ | 2,818 | $ | 458,227 | $ | 18,064 | |
The total number of security positions in the investment portfolio in an unrealized loss position at June 30, 2014 was 129 compared to 331 at December 31, 2013. At June 30, 2014, the Company had positions in 61 investment securities with a fair value of $236.3 million and a total unrealized loss of $7.9 million that have been in a continuous unrealized loss position for more than 12 months. There were a total of 68 securities positions in the Company's investment portfolio, with a fair value of $95.8 million and a total unrealized loss of $285 thousand at June 30, 2014, that have been in a continuous unrealized loss position for less than 12 months. The unrealized loss on these investment securities was predominantly caused by changes in market interest rates subsequent to purchase. The fair value of most of the investment securities in the Company's portfolio fluctuates as market interest rates change. | |||||||||||||
The Company reviews investment securities on an ongoing basis for the presence of other-than-temporary impairment ("OTTI") with formal reviews performed quarterly. When evaluating debt securities for OTTI, management considers many factors, including: (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 Company has the intention to sell the debt security or whether it is more likely than not that it will be required to sell the debt security before its anticipated recovery. The assessment of whether OTTI exists involves a high degree of subjectivity and judgment and is based on the information then available to management. There was no impairment recorded during the six months ended June 30, 2014 and 2013. | |||||||||||||
Based on management's review and evaluation of the Company's debt securities as of June 30, 2014, the debt securities with unrealized losses were not considered to be OTTI. As of June 30, 2014, the Company did not intend to sell any of the securities in a loss position and believes that it is not likely that it will be required to sell any such securities before the anticipated recovery of amortized cost. Accordingly, as of June 30, 2014, management has concluded that unrealized losses on its investment securities are temporary and no further impairment loss has been realized in the Company's consolidated statements of income. | |||||||||||||
Loans
Loans | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Loans [Abstract] | ' | |||||||||||||||
Loans | ' | |||||||||||||||
(4.) LOANS | ||||||||||||||||
The Company's loan portfolio consisted of the following as of the dates indicated (in thousands): | ||||||||||||||||
Principal | Net Deferred | |||||||||||||||
Amount | Loan Costs | |||||||||||||||
Outstanding | (Fees) | Loans, Net | ||||||||||||||
30-Jun-14 | ||||||||||||||||
Commercial business | $ | 277,609 | $ | 76 | $ | 277,685 | ||||||||||
Commercial mortgage | 469,936 | (881 | ) | 469,055 | ||||||||||||
Residential mortgage | 106,342 | (136 | ) | 106,206 | ||||||||||||
Home equity | 363,243 | 6,335 | 369,578 | |||||||||||||
Consumer indirect | 626,418 | 26,330 | 652,748 | |||||||||||||
Other consumer | 21,205 | 187 | 21,392 | |||||||||||||
Total | $ | 1,864,753 | $ | 31,911 | 1,896,664 | |||||||||||
Allowance for loan losses | (27,166 | ) | ||||||||||||||
Total loans, net | $ | 1,869,498 | ||||||||||||||
31-Dec-13 | ||||||||||||||||
Commercial business | $ | 265,751 | $ | 15 | $ | 265,766 | ||||||||||
Commercial mortgage | 470,312 | (1,028 | ) | 469,284 | ||||||||||||
Residential mortgage | 113,101 | (56 | ) | 113,045 | ||||||||||||
Home equity | 320,658 | 5,428 | 326,086 | |||||||||||||
Consumer indirect | 609,390 | 26,978 | 636,368 | |||||||||||||
Other consumer | 22,893 | 177 | 23,070 | |||||||||||||
Total | $ | 1,802,105 | $ | 31,514 | 1,833,619 | |||||||||||
Allowance for loan losses | (26,736 | ) | ||||||||||||||
Total loans, net | $ | 1,806,883 | ||||||||||||||
Loans held for sale (not included above) were comprised entirely of residential real estate mortgages and totaled $201 thousand and $3.4 million as of June 30, 2014 and December 31, 2013, respectively. | ||||||||||||||||
Past Due Loans Aging | ||||||||||||||||
The Company's recorded investment, by loan class, in current and nonaccrual loans, as well as an analysis of accruing delinquent loans is set forth as of the dates indicated (in thousands): | ||||||||||||||||
Greater | ||||||||||||||||
30-59 Days | 60-89 Days | Than 90 | Total Past | Total | ||||||||||||
Past Due | Past Due | Days | Due | Nonaccrual | Current | Loans | ||||||||||
30-Jun-14 | ||||||||||||||||
Commercial business | $ | 2,005 | $ | - | $ | - | $ | 2,005 | $ | 3,589 | $ | 272,015 | $ | 277,609 | ||
Commercial mortgage | - | - | - | - | 2,734 | 467,202 | 469,936 | |||||||||
Residential mortgage | 408 | - | - | 408 | 758 | 105,176 | 106,342 | |||||||||
Home equity | 235 | 32 | - | 267 | 371 | 362,605 | 363,243 | |||||||||
Consumer indirect | 1,590 | 324 | - | 1,914 | 1,427 | 623,077 | 626,418 | |||||||||
Other consumer | 139 | 20 | 6 | 165 | 6 | 21,034 | 21,205 | |||||||||
Total loans, gross | $ | 4,377 | $ | 376 | $ | 6 | $ | 4,759 | $ | 8,885 | $ | 1,851,109 | $ | 1,864,753 | ||
31-Dec-13 | ||||||||||||||||
Commercial business | $ | 558 | $ | 199 | $ | - | $ | 757 | $ | 3,474 | $ | 261,520 | $ | 265,751 | ||
Commercial mortgage | 800 | - | - | 800 | 9,663 | 459,849 | 470,312 | |||||||||
Residential mortgage | 542 | - | - | 542 | 1,078 | 111,481 | 113,101 | |||||||||
Home equity | 750 | 143 | - | 893 | 925 | 318,840 | 320,658 | |||||||||
Consumer indirect | 2,129 | 476 | - | 2,605 | 1,471 | 605,314 | 609,390 | |||||||||
Other consumer | 126 | 72 | 6 | 204 | 5 | 22,684 | 22,893 | |||||||||
Total loans, gross | $ | 4,905 | $ | 890 | $ | 6 | $ | 5,801 | $ | 16,616 | $ | 1,779,688 | $ | 1,802,105 | ||
There were no loans past due greater than 90 days and still accruing interest as of June 30, 2014 and December 31, 2013. There were $6 thousand in consumer overdrafts which were past due greater than 90 days as of June 30, 2014 and December 31, 2013. Consumer overdrafts are overdrawn deposit accounts which have been reclassified as loans but by their terms do not accrue interest. | ||||||||||||||||
Troubled Debt Restructurings | ||||||||||||||||
A modification of a loan constitutes a troubled debt restructuring ("TDR") when a borrower is experiencing financial difficulty and the modification constitutes a concession. The Company offers various types of concessions when modifying loans, however, forgiveness of principal is seldom granted. Commercial loans modified in a TDR may involve temporary interest-only payments, term extensions, reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, requesting additional collateral, releasing collateral for consideration, or substituting or adding a new borrower or guarantor. | ||||||||||||||||
The following table presents information related to loans modified in a TDR during the periods indicated (dollars in thousands). | ||||||||||||||||
Quarter-to-Date | Year-to-Date | |||||||||||||||
Pre- | Post- | Pre- | Post- | |||||||||||||
Modification | Modification | Modification | Modification | |||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | |||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | |||||||||||
Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||
30-Jun-14 | ||||||||||||||||
Commercial business | 1 | $ | 1,381 | $ | 1,381 | 1 | $ | 1,381 | $ | 1,381 | ||||||
Commercial mortgage | - | - | - | - | - | - | ||||||||||
Total | 1 | $ | 1,381 | $ | 1,381 | 1 | $ | 1,381 | $ | 1,381 | ||||||
30-Jun-13 | ||||||||||||||||
Commercial business | 1 | $ | 1,273 | $ | 1,273 | 3 | $ | 1,462 | $ | 1,453 | ||||||
Commercial mortgage | - | - | - | - | - | - | ||||||||||
Total | 1 | $ | 1,273 | $ | 1,273 | 3 | $ | 1,462 | $ | 1,453 | ||||||
All of the loans identified as TDRs by the Company during the six months ended June 30, 2014 and 2013 were previously on nonaccrual status and reported as impaired loans prior to restructuring. The modifications primarily related to extending the amortization periods of the loans. Nonaccrual loans that are restructured remain on nonaccrual status, but may move to accrual status after they have performed according to the restructured terms for a period of time. The TDR classification did not have a material impact on the Company's determination of the allowance for loan losses because the modified loans were impaired and evaluated for a specific reserve both before and after restructuring. | ||||||||||||||||
There were no loans modified as a TDR within the previous 12 months that defaulted during the six months ended June 30, 2014 or 2013. For purposes of this disclosure, a loan modified as a TDR is considered to have defaulted when the borrower becomes 90 days past due. | ||||||||||||||||
Impaired Loans | ||||||||||||||||
Management has determined that specific commercial loans on nonaccrual status and all loans that have had their terms restructured in a troubled debt restructuring are impaired loans. The following table presents the recorded investment, unpaid principal balance and related allowance of impaired loans as of the dates indicated and average recorded investment and interest income recognized on impaired loans for the three month periods ended as of the dates indicated (in thousands): | ||||||||||||||||
Unpaid | Average | Interest | ||||||||||||||
Recorded | Principal | Related | Recorded | Income | ||||||||||||
Investment(1) | Balance(1) | Allowance | Investment | Recognized | ||||||||||||
30-Jun-14 | ||||||||||||||||
With no related allowance recorded: | ||||||||||||||||
Commercial business | $ | 1,618 | $ | 2,146 | $ | - | $ | 1,823 | $ | - | ||||||
Commercial mortgage | 1,142 | 1,173 | - | 1,093 | - | |||||||||||
2,760 | 3,319 | - | 2,916 | - | ||||||||||||
With an allowance recorded: | ||||||||||||||||
Commercial business | 1,971 | 1,982 | 1,056 | 1,837 | - | |||||||||||
Commercial mortgage | 1,592 | 1,592 | 432 | 6,733 | - | |||||||||||
3,563 | 3,574 | 1,488 | 8,570 | - | ||||||||||||
$ | 6,323 | $ | 6,893 | $ | 1,488 | $ | 11,486 | $ | - | |||||||
31-Dec-13 | ||||||||||||||||
With no related allowance recorded: | ||||||||||||||||
Commercial business | $ | 1,777 | $ | 2,273 | $ | - | $ | 659 | $ | - | ||||||
Commercial mortgage | 875 | 906 | - | 760 | - | |||||||||||
2,652 | 3,179 | - | 1,419 | - | ||||||||||||
With an allowance recorded: | ||||||||||||||||
Commercial business | 1,697 | 1,717 | 201 | 3,196 | - | |||||||||||
Commercial mortgage | 8,788 | 9,188 | 1,057 | 3,758 | - | |||||||||||
10,485 | 10,905 | 1,258 | 6,954 | - | ||||||||||||
$ | 13,137 | $ | 14,084 | $ | 1,258 | $ | 8,373 | $ | - | |||||||
(1) Difference between recorded investment and unpaid principal balance represents partial charge-offs. | ||||||||||||||||
Credit Quality Indicators | ||||||||||||||||
The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors such as the fair value of collateral. The Company analyzes commercial business and commercial mortgage loans individually by classifying the loans as to credit risk. Risk ratings are updated any time the situation warrants. The Company uses the following definitions for risk ratings: Special Mention: Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company's credit position at some future date. | ||||||||||||||||
Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | ||||||||||||||||
Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | ||||||||||||||||
Loans that do not meet the criteria above that are analyzed individually as part of the process described above are considered "Uncriticized" or pass-rated loans and are included in groups of homogeneous loans with similar risk and loss characteristics. | ||||||||||||||||
The following table sets forth the Company's commercial loan portfolio, categorized by internally assigned asset classification, as of the dates indicated (in thousands): | ||||||||||||||||
Commercial | Commercial | |||||||||||||||
Business | Mortgage | |||||||||||||||
30-Jun-14 | ||||||||||||||||
Uncriticized | $ | 260,164 | $ | 453,747 | ||||||||||||
Special mention | 7,708 | 6,136 | ||||||||||||||
Substandard | 9,737 | 10,053 | ||||||||||||||
Doubtful | - | - | ||||||||||||||
Total | $ | 277,609 | $ | 469,936 | ||||||||||||
31-Dec-13 | ||||||||||||||||
Uncriticized | $ | 250,553 | $ | 449,447 | ||||||||||||
Special mention | 6,311 | 6,895 | ||||||||||||||
Substandard | 8,887 | 13,970 | ||||||||||||||
Doubtful | - | - | ||||||||||||||
Total | $ | 265,751 | $ | 470,312 | ||||||||||||
The Company utilizes payment status as a means of identifying and reporting problem and potential problem retail loans. The Company considers nonaccrual loans and loans past due greater than 90 days and still accruing interest to be non-performing. The following table sets forth the Company's retail loan portfolio, categorized by payment status, as of the dates indicated (in thousands): | ||||||||||||||||
Residential | Home | Consumer | Other | |||||||||||||
Mortgage | Equity | Indirect | Consumer | |||||||||||||
30-Jun-14 | ||||||||||||||||
Performing | $ | 105,584 | $ | 362,872 | $ | 624,991 | $ | 21,193 | ||||||||
Non-performing | 758 | 371 | 1,427 | 12 | ||||||||||||
Total | $ | 106,342 | $ | 363,243 | $ | 626,418 | $ | 21,205 | ||||||||
31-Dec-13 | ||||||||||||||||
Performing | $ | 112,023 | $ | 319,733 | $ | 607,919 | $ | 22,882 | ||||||||
Non-performing | 1,078 | 925 | 1,471 | 11 | ||||||||||||
Total | $ | 113,101 | $ | 320,658 | $ | 609,390 | $ | 22,893 | ||||||||
Allowance for Loan Losses | ||||||||||||||||
Loans and the related allowance for loan losses are presented below as of the dates indicated (in thousands): | ||||||||||||||||
Commercial | Commercial | Residential | Home | Consumer | Other | |||||||||||
Business | Mortgage | Mortgage | Equity | Indirect | Consumer | Total | ||||||||||
30-Jun-14 | ||||||||||||||||
Loans: | ||||||||||||||||
Ending balance | $ | 277,609 | $ | 469,936 | $ | 106,342 | $ | 363,243 | $ | 626,418 | $ | 21,205 | $ | 1,864,753 | ||
Evaluated for impairment: | ||||||||||||||||
Individually | $ | 3,589 | $ | 2,734 | $ | - | $ | - | $ | - | $ | - | $ | 6,323 | ||
Collectively | $ | 274,020 | $ | 467,202 | $ | 106,342 | $ | 363,243 | $ | 626,418 | $ | 21,205 | $ | 1,858,430 | ||
Allowance for loan losses: | ||||||||||||||||
Ending balance | $ | 5,402 | $ | 7,633 | $ | 618 | $ | 1,607 | $ | 11,446 | $ | 460 | $ | 27,166 | ||
Evaluated for impairment: | ||||||||||||||||
Individually | $ | 1,056 | $ | 432 | $ | - | $ | - | $ | - | $ | - | $ | 1,488 | ||
Collectively | $ | 4,346 | $ | 7,201 | $ | 618 | $ | 1,607 | $ | 11,446 | $ | 460 | $ | 25,678 | ||
30-Jun-13 | ||||||||||||||||
Loans: | ||||||||||||||||
Ending balance | $ | 257,784 | $ | 438,513 | $ | 117,939 | $ | 301,429 | $ | 572,350 | $ | 24,107 | $ | 1,712,122 | ||
Evaluated for impairment: | ||||||||||||||||
Individually | $ | 5,043 | $ | 3,073 | $ | - | $ | - | $ | - | $ | - | $ | 8,116 | ||
Collectively | $ | 252,741 | $ | 435,440 | $ | 117,939 | $ | 301,429 | $ | 572,350 | $ | 24,107 | $ | 1,704,006 | ||
Allowance for loan losses: | ||||||||||||||||
Ending balance | $ | 4,755 | $ | 7,125 | $ | 701 | $ | 1,424 | $ | 11,095 | $ | 490 | $ | 25,590 | ||
Evaluated for impairment: | ||||||||||||||||
Individually | $ | 956 | $ | 554 | $ | - | $ | - | $ | - | $ | - | $ | 1,510 | ||
Collectively | $ | 3,799 | $ | 6,571 | $ | 701 | $ | 1,424 | $ | 11,095 | $ | 490 | $ | 24,080 | ||
The following table sets forth the changes in the allowance for loan losses for the three and six month periods ended June 30, 2014 (in thousands): | ||||||||||||||||
Commercial | Commercial | Residential | Home | Consumer | Other | |||||||||||
Business | Mortgage | Mortgage | Equity | Indirect | Consumer | Total | ||||||||||
Three months ended June 30, 2014 | ||||||||||||||||
Beginning balance | $ | 4,689 | $ | 7,980 | $ | 672 | $ | 1,371 | $ | 11,984 | $ | 456 | $ | 27,152 | ||
Charge-offs | 3 | 165 | 69 | 156 | 2,331 | 224 | 2,948 | |||||||||
Recoveries | 68 | 6 | 8 | 29 | 995 | 98 | 1,204 | |||||||||
Provision (credit) | 648 | (188 | ) | 7 | 363 | 798 | 130 | 1,758 | ||||||||
Ending balance | $ | 5,402 | $ | 7,633 | $ | 618 | $ | 1,607 | $ | 11,446 | $ | 460 | $ | 27,166 | ||
Six months ended June 30, 2014 | ||||||||||||||||
Beginning balance | $ | 4,273 | $ | 7,743 | $ | 676 | $ | 1,367 | $ | 12,230 | $ | 447 | $ | 26,736 | ||
Charge-offs | 71 | 165 | 147 | 262 | 4,786 | 493 | 5,924 | |||||||||
Recoveries | 97 | 13 | 29 | 40 | 2,100 | 211 | 2,490 | |||||||||
Provision | 1,103 | 42 | 60 | 462 | 1,902 | 295 | 3,864 | |||||||||
Ending balance | $ | 5,402 | $ | 7,633 | $ | 618 | $ | 1,607 | $ | 11,446 | $ | 460 | $ | 27,166 | ||
The following table sets forth the changes in the allowance for loan losses for the three and six month periods ended June 30, 2013 (in thousands): | ||||||||||||||||
Commercial | Commercial | Residential | Home | Consumer | Other | |||||||||||
Business | Mortgage | Mortgage | Equity | Indirect | Consumer | Total | ||||||||||
Three months ended June 30, 2013 | ||||||||||||||||
Beginning balance | $ | 5,167 | $ | 6,971 | $ | 668 | $ | 1,283 | $ | 11,312 | $ | 426 | $ | 25,827 | ||
Charge-offs | 292 | 106 | 85 | 53 | 1,929 | 229 | 2,694 | |||||||||
Recoveries | 205 | 143 | 13 | 73 | 759 | 71 | 1,264 | |||||||||
Provision (credit) | (325 | ) | 117 | 105 | 121 | 953 | 222 | 1,193 | ||||||||
Ending balance | $ | 4,755 | $ | 7,125 | $ | 701 | $ | 1,424 | $ | 11,095 | $ | 490 | $ | 25,590 | ||
Six months ended June 30, 2013 | ||||||||||||||||
Beginning balance | $ | 4,884 | $ | 6,581 | $ | 740 | $ | 1,282 | $ | 10,715 | $ | 512 | $ | 24,714 | ||
Charge-offs | 531 | 109 | 247 | 322 | 3,647 | 481 | 5,337 | |||||||||
Recoveries | 242 | 157 | 30 | 110 | 1,564 | 208 | 2,311 | |||||||||
Provision | 160 | 496 | 178 | 354 | 2,463 | 251 | 3,902 | |||||||||
Ending balance | $ | 4,755 | $ | 7,125 | $ | 701 | $ | 1,424 | $ | 11,095 | $ | 490 | $ | 25,590 | ||
Risk Characteristics | ||||||||||||||||
Commercial business loans primarily consist of loans to small to midsize businesses in our market area in a diverse range of industries. These loans are of higher risk and typically are made on the basis of the borrower's ability to make repayment from the cash flow of the borrower's business. Further, the collateral securing the loans may depreciate over time, may be difficult to appraise and may fluctuate in value. The credit risk related to commercial loans is largely influenced by general economic conditions and the resulting impact on a borrower's operations or on the value of underlying collateral, if any. | ||||||||||||||||
Commercial mortgage loans generally have larger balances and involve a greater degree of risk than residential mortgage loans, inferring higher potential losses on an individual customer basis. Loan repayment is often dependent on the successful operation and management of the properties, as well as on the collateral securing the loan. Economic events or conditions in the real estate market could have an adverse impact on the cash flows generated by properties securing the Company's commercial real estate loans and on the value of such properties. | ||||||||||||||||
Residential mortgage loans and home equities (comprised of home equity loans and home equity lines) are generally made on the basis of the borrower's ability to make repayment from his or her employment and other income, but are secured by real property whose value tends to be more easily ascertainable. Credit risk for these types of loans is generally influenced by general economic conditions, the characteristics of individual borrowers, and the nature of the loan collateral. | ||||||||||||||||
Consumer indirect and other consumer loans may entail greater credit risk than residential mortgage loans and home equities, particularly in the case of other consumer loans which are unsecured or, in the case of indirect consumer loans, secured by depreciable assets, such as automobiles or boats. In such cases, any repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance. In addition, consumer loan collections are dependent on the borrower's continuing financial stability, and thus are more likely to be affected by adverse personal circumstances such as job loss, illness or personal bankruptcy. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans. | ||||||||||||||||
Goodwill_And_Other_Intangible_
Goodwill And Other Intangible Assets | 6 Months Ended | ||||||
Jun. 30, 2014 | |||||||
Goodwill And Other Intangible Assets [Abstract] | ' | ||||||
Goodwill And Other Intangible Assets | ' | ||||||
(5.) GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||
The carrying amount of goodwill totaled $48.5 million as of June 30, 2014 and December 31, 2013. The goodwill relates to the Company's primary subsidiary and reporting unit, Five Star Bank. The Company performs a goodwill impairment test on an annual basis or more frequently if events and circumstances warrant. | |||||||
The Company's other intangible assets, consisting entirely of a core deposit intangible asset, were as follows (in thousands): | |||||||
June 30, | December 31, | ||||||
2014 | 2013 | ||||||
Gross carrying amount | $ | 2,042 | $ | 2,042 | |||
Accumulated amortization | (752 | ) | (576 | ) | |||
Net carrying value | $ | 1,290 | $ | 1,466 | |||
Amortization expense for the core deposit intangible was $87 thousand and $176 thousand for the three and six months ended June 30, 2014 and $98 thousand and $199 thousand for the three and six months ended June 30, 2013, respectively. As of June 30, 2014, the estimated core deposit intangible amortization expense for the remainder of 2014 and each of the next five years is as follows (in thousands): | |||||||
2014 (remainder of year) | $ | 165 | |||||
2015 | 296 | ||||||
2016 | 251 | ||||||
2017 | 205 | ||||||
2018 | 160 | ||||||
2019 | 115 | ||||||
Shareholders_Equity
Shareholders' Equity | 6 Months Ended | |||||
Jun. 30, 2014 | ||||||
Shareholders' Equity [Abstract] | ' | |||||
Shareholders' Equity | ' | |||||
(6.) SHAREHOLDERS' EQUITY | ||||||
Common Stock | ||||||
The changes in shares of common stock were as follows for the six months ended June 30, 2014 and 2013: | ||||||
Outstanding | Treasury | Issued | ||||
30-Jun-14 | ||||||
Shares outstanding at December 31, 2013 | 13,829,355 | 332,242 | 14,161,597 | |||
Restricted stock awards issued | 43,242 | (43,242 | ) | - | ||
Restricted stock awards forfeited | (8,144 | ) | 8,144 | - | ||
Stock options exercised | 7,125 | (7,125 | ) | - | ||
Treasury stock purchases | (9,102 | ) | 9,102 | - | ||
Shares outstanding at June 30, 2014 | 13,862,476 | 299,121 | 14,161,597 | |||
30-Jun-13 | ||||||
Shares outstanding at December 31, 2012 | 13,787,709 | 373,888 | 14,161,597 | |||
Restricted stock awards issued | 42,035 | (42,035 | ) | - | ||
Restricted stock awards forfeited | (18,977 | ) | 18,977 | - | ||
Stock options exercised | 3,300 | (3,300 | ) | - | ||
Treasury stock purchases | (11,349 | ) | 11,349 | - | ||
Directors' retainer | 5,672 | (5,672 | ) | - | ||
Shares outstanding at June 30, 2013 | 13,808,390 | 353,207 | 14,161,597 | |||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||
Accumulated Other Comprehensive Income (Loss) | ' | |||||||||
(7.) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||
The following table presents the components of other comprehensive income (loss) for the six month periods ended June 30, 2014 and 2013 (in thousands): | ||||||||||
Pre-tax | Net-of-tax | |||||||||
Amount | Tax Effect | Amount | ||||||||
30-Jun-14 | ||||||||||
Securities available for sale and transferred securities: | ||||||||||
Change in unrealized gain/loss during the period | $ | 12,168 | $ | 4,821 | $ | 7,347 | ||||
Reclassification adjustment for net gains included in net income (1) | (1,521 | ) | (602 | ) | (919 | ) | ||||
Total securities available for sale and transferred securities | 10,647 | 4,219 | 6,428 | |||||||
Amortization of pension and post-retirement items: | ||||||||||
Prior service credit | (24 | ) | (9 | ) | (15 | ) | ||||
Net actuarial losses | 88 | 34 | 54 | |||||||
Total pension and post-retirement obligations | 64 | 25 | 39 | |||||||
Other comprehensive income | $ | 10,711 | $ | 4,244 | $ | 6,467 | ||||
30-Jun-13 | ||||||||||
Securities available for sale: | ||||||||||
Change in unrealized gain/loss during the period | $ | (26,571 | ) | $ | (10,525 | ) | $ | (16,046 | ) | |
Reclassification adjustment for net gains included in net income | (1,224 | ) | (485 | ) | (739 | ) | ||||
Total securities available for sale | (27,795 | ) | (11,010 | ) | (16,785 | ) | ||||
Amortization of pension and post-retirement items: | ||||||||||
Prior service credit | (24 | ) | (9 | ) | (15 | ) | ||||
Net actuarial losses | 682 | 269 | 413 | |||||||
Total pension and post-retirement obligations | 658 | 260 | 398 | |||||||
Other comprehensive loss | $ | (27,137 | ) | $ | (10,750 | ) | $ | (16,387 | ) | |
(1) Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company's reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield. | ||||||||||
Activity in accumulated other comprehensive income (loss), net of tax, for the six month periods ended June 30, 2014 and 2013 was as follows (in thousands): | ||||||||||
Securities | ||||||||||
Available for | Pension and | Accumulated | ||||||||
Sale and | Post- | Other | ||||||||
Transferred | retirement | Comprehensive | ||||||||
Securities | Obligations | Income (Loss) | ||||||||
30-Jun-14 | ||||||||||
Balance at beginning of year | $ | (5,337 | ) | $ | (4,850 | ) | $ | (10,187 | ) | |
Other comprehensive income before reclassifications | 7,347 | - | 7,347 | |||||||
Amounts reclassified from accumulated other comprehensive income | (919 | ) | 39 | (880 | ) | |||||
Net current period other comprehensive income | 6,428 | 39 | 6,467 | |||||||
Balance at end of period | $ | 1,091 | $ | (4,811 | ) | $ | (3,720 | ) | ||
30-Jun-13 | ||||||||||
Balance at beginning of year | $ | 16,060 | $ | (12,807 | ) | $ | 3,253 | |||
Other comprehensive (loss) income before reclassifications | (16,046 | ) | - | (16,046 | ) | |||||
Amounts reclassified from accumulated other comprehensive income | (739 | ) | 398 | (341 | ) | |||||
Net current period other comprehensive (loss) income | (16,785 | ) | 398 | (16,387 | ) | |||||
Balance at end of period | $ | (725 | ) | $ | (12,409 | ) | $ | (13,134 | ) | |
The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the six month periods ended June 30, 2014 and 2013 (in thousands): | ||||||||||
Amount Reclassified from | ||||||||||
Details About Accumulated Other | Accumulated Other | Affected Line Item in the | ||||||||
Comprehensive Income Components | Comprehensive Income | Consolidated Statement of Income | ||||||||
Six months ended | ||||||||||
June 30, | ||||||||||
2014 | 2013 | |||||||||
Realized gain on sale of investment securities | $ | 1,262 | $ | 1,224 | Net gain on disposal of investment securities | |||||
Amortization of unrealized holding gains (losses) | ||||||||||
on investment securities transferred from | ||||||||||
available for sale to held to maturity | 259 | - | Interest income | |||||||
1,521 | 1,224 | Total before tax | ||||||||
(602 | ) | (485 | ) | Income tax expense | ||||||
919 | 739 | Net of tax | ||||||||
Amortization of pension and post-retirement items: | ||||||||||
Prior service credit (1) | 24 | 24 | Salaries and employee benefits | |||||||
Net actuarial losses (1) | (88 | ) | (682 | ) | Salaries and employee benefits | |||||
(64 | ) | (658 | ) | Total before tax | ||||||
25 | 260 | Income tax benefit | ||||||||
(39 | ) | (398 | ) | Net of tax | ||||||
Total reclassified for the period | $ | 880 | $ | 341 | ||||||
(1) These items are included in the computation of net periodic pension expense. See Note 9 – Employee Benefit Plans for additional information. | ||||||||||
ShareBased_Compensation_Plans
Share-Based Compensation Plans | 6 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Share-Based Compensation Plans [Abstract] | ' | |||||||||
Share-Based Compensation Plans | ' | |||||||||
(8.) SHARE-BASED COMPENSATION PLANS | ||||||||||
The Company maintains certain stock-based compensation plans that were approved by the Company's shareholders and are administered by the Company's Board of Directors, or the Management Development and Compensation Committee of the Board. The share-based compensation plans were established to allow for the grant of compensation awards to attract, motivate and retain employees, executive officers and non-employee directors who contribute to the success and profitability of the Company and to give such persons a proprietary interest in the Company, thereby enhancing their personal interest in the Company's success. | ||||||||||
The Company awarded grants of 22,642 shares of restricted common stock to certain members of management during the six months ended June 30, 2014. Fifty percent of the shares subject to each grant will be earned based upon achievement of an EPS performance requirement for the Company's fiscal year ended December 31, 2014. The remaining fifty percent of the shares will be earned based on the Company's achievement of a relative total shareholder return ("TSR") performance requirement, on a percentile basis, compared to a defined group of peer companies over a three-year performance period ended December 31, 2016. The shares earned based on the achievement of the EPS and TSR performance requirements, if any, will vest based on the recipient's continuous service to the Company on December 31, 2016. | ||||||||||
The grant-date fair value of the TSR portion of the award granted during the six months ended June 30, 2014 was determined using the Monte Carlo simulation model on the date of grant, assuming the following (i) expected term of 2.87 years, (ii) risk free interest rate of 0.62%, (iii) expected dividend yield of 3.59% and (iv) expected stock price volatility over the expected term of the TSR award of 39.4%. The grant-date fair value of all other restricted stock awards is equal to the closing market price of our common stock on the date of grant. | ||||||||||
In addition, the Company granted 11,600 shares of restricted common stock to management during the six months ended June 30, 2014. The shares will vest after completion of a three-year service requirement. The weighted average market price of the restricted stock awards on the date of grant was $21.26. | ||||||||||
During the six months ended June 30, 2014, the Company granted 9,000 restricted shares of common stock to directors, of which 4,500 shares vested immediately and 4,500 shares will vest after completion of a one-year service requirement. The market price of the restricted stock on the date of grant was $22.82. | ||||||||||
The restricted stock awards granted to management and directors in 2014 do not have rights to dividends or dividend equivalents. | ||||||||||
The following is a summary of restricted stock award activity for the six month period ended June 30, 2014: | ||||||||||
Weighted | ||||||||||
Average | ||||||||||
Market | ||||||||||
Number of | Price at | |||||||||
Shares | Grant Date | |||||||||
Outstanding at beginning of year | 65,040 | $ | 16.92 | |||||||
Granted | 43,242 | 18.76 | ||||||||
Vested | (33,728 | ) | 18.17 | |||||||
Forfeited | (8,144 | ) | 19.77 | |||||||
Outstanding at end of period | 66,410 | $ | 17.13 | |||||||
As of June 30, 2014, there was $730 thousand of unrecognized compensation expense related to unvested restricted stock awards that is expected to be recognized over a weighted average period of two years. | ||||||||||
The Company uses the Black-Scholes valuation method to estimate the fair value of its stock option awards. There were no stock options awarded during 2014 or 2013. The following is a summary of stock option activity for the six months ended June 30, 2014 (dollars in thousands, except per share amounts): | ||||||||||
Weighted | ||||||||||
Weighted | Average | |||||||||
Average | Remaining | Aggregate | ||||||||
Number of | Exercise | Contractual | Intrinsic | |||||||
Options | Price | Term | Value | |||||||
Outstanding at beginning of year | 192,934 | $ | 19.83 | |||||||
Exercised | (7,125 | ) | 18.45 | |||||||
Expired | (23,436 | ) | 23.64 | |||||||
Outstanding and exercisable at end of period | 162,373 | $ | 19.35 | 2.4 | $ | 661 | ||||
The aggregate intrinsic value (the amount by which the market price of the stock on the date of exercise exceeded the market price of the stock on the date of grant) of option exercises for the six months ended June 30, 2014 and 2013 was $32 thousand and $7 thousand, respectively. The total cash received as a result of option exercises under stock compensation plans for the six months ended June 30, 2014 and 2013 was $132 thousand and $59 thousand, respectively. | ||||||||||
The Company amortizes the expense related to restricted stock awards over the vesting period. Share-based compensation expense is recorded as a component of salaries and employee benefits in the consolidated statements of income for awards granted to management and as a component of other noninterest expense for awards granted to directors. The share-based compensation expense included in the consolidated statements of income is as follows (in thousands): | ||||||||||
Three months ended | Six months ended | |||||||||
June 30, | June 30, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||
Salaries and employee benefits | $ | 75 | $ | (6 | ) | $ | 156 | $ | 79 | |
Other noninterest expense | 127 | 109 | 149 | 126 | ||||||
Total share-based compensation expense | $ | 202 | $ | 103 | $ | 305 | $ | 205 | ||
Employee_Benefit_Plans
Employee Benefit Plans | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Employee Benefit Plans [Abstract] | ' | ||||||||||||
Employee Benefit Plans | ' | ||||||||||||
(9.) EMPLOYEE BENEFIT PLANS | |||||||||||||
The components of the Company's net periodic benefit expense for its pension and post-retirement obligations were as follows (in thousands): | |||||||||||||
Three months ended | Six months ended | ||||||||||||
June 30, | June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Service cost | $ | 480 | $ | 516 | $ | 959 | $ | 1,032 | |||||
Interest cost on projected benefit obligation | 573 | 505 | 1,147 | 1,010 | |||||||||
Expected return on plan assets | (1,030 | ) | (921 | ) | (2,059 | ) | (1,842 | ) | |||||
Amortization of prior service credit | (12 | ) | (12 | ) | (24 | ) | (24 | ) | |||||
Amortization of net actuarial losses | 44 | 341 | 88 | 682 | |||||||||
Net periodic pension expense | $ | 55 | $ | 429 | $ | 111 | $ | 858 | |||||
The net periodic benefit expense is recorded as a component of salaries and employee benefits in the consolidated statements of income. The Company's funding policy is to contribute, at a minimum, an actuarially determined amount that will satisfy the minimum funding requirements determined under the appropriate sections of the Internal Revenue Code. The Company has no minimum required contribution for the 2014 fiscal year. | |||||||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Commitments And Contingencies [Abstract] | ' | ||||
Commitments And Contingencies | ' | ||||
(10.) COMMITMENTS AND CONTINGENCIES | |||||
The Company has financial instruments with off-balance sheet risk established in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk extending beyond amounts recognized in the Company's financial statements. | |||||
The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is essentially the same as that involved with extending loans to customers. The Company uses the same credit underwriting policies in making commitments and conditional obligations as for on-balance sheet instruments. | |||||
Off-balance sheet commitments consist of the following (in thousands): | |||||
June 30, | December 31, | ||||
2014 | 2013 | ||||
Commitments to extend credit | $ | 444,617 | $ | 431,236 | |
Standby letters of credit | 11,020 | 8,618 | |||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Commitments may expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements. Each customer's creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if any, is based on management's credit evaluation of the borrower. Standby letters of credit are conditional lending commitments issued by the Company to guarantee the performance of a customer to a third party. These standby letters of credit are primarily issued to support private borrowing arrangements. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loan facilities to customers. | |||||
The Company also extends rate lock agreements to borrowers related to the origination of residential mortgage loans. To mitigate the interest rate risk inherent in these rate lock agreements, the Company may enter into forward commitments to sell individual residential mortgages. Rate lock agreements and forward commitments are considered derivatives and are recorded at fair value. Forward sales commitments totaled $393 thousand at June 30, 2014. There were no forward sales commitments outstanding as of December 31, 2013. In addition, the net change in the fair values of these derivatives was recognized as other noninterest income or other noninterest expense in the consolidated statements of income. | |||||
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||
Fair Value Measurements | ' | |||||||||
(11.) FAIR VALUE MEASUREMENTS | ||||||||||
Determination of Fair Value – Assets Measured at Fair Value on a Recurring and Nonrecurring Basis Valuation Hierarchy | ||||||||||
The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. ASC Topic 820, "Fair Value Measurements and Disclosures," establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. There have been no changes in the valuation techniques used during the current period. The fair value hierarchy is as follows: | ||||||||||
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. | ||||||||||
Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. | ||||||||||
Level 3 - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity's own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. | ||||||||||
Transfers between levels of the fair value hierarchy are recorded as of the end of the reporting period. | ||||||||||
In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty credit quality and the company's creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. The Company's valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company's valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Furthermore, the reported fair value amounts have not been comprehensively revalued since the presentation dates, and therefore, estimates of fair value after the balance sheet date may differ significantly from the amounts presented herein. A more detailed description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. | ||||||||||
Securities available for sale: Securities classified as available for sale are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond's terms and conditions, among other things. | ||||||||||
Loans held for sale: The fair value of loans held for sale is determined using quoted secondary market prices and investor commitments. Loans held for sale are classified as Level 2 in the fair value hierarchy. | ||||||||||
Collateral dependent impaired loans: Fair value of impaired loans with specific allocations of the allowance for loan losses is measured based on the value of the collateral securing these loans and is classified as Level 3 in the fair value hierarchy. Collateral may be real estate and/or business assets including equipment, inventory and/or accounts receivable and collateral value is determined based on appraisals performed by qualified licensed appraisers hired by the Company. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Appraised and reported values may be discounted based on management's historical knowledge, changes in market conditions from the time of valuation, and/or management's expertise and knowledge of the client and the client's business. Such discounts are typically significant and result in a Level 3 classification of the inputs for determining fair value. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors identified above. | ||||||||||
Loan servicing rights: Loan servicing rights do not trade in an active market with readily observable market data. As a result, the Company estimates the fair value of loan servicing rights by using a discounted cash flow model to calculate the present value of estimated future net servicing income. The assumptions used in the discounted cash flow model are those that we believe market participants would use in estimating future net servicing income, including estimates of loan prepayment rates, servicing costs, ancillary income, impound account balances, and discount rates. The significant unobservable inputs used in the fair value measurement of the Company's loan servicing rights are the constant prepayment rates and weighted average discount rate. Significant increases (decreases) in any of those inputs in isolation could result in a significantly lower (higher) fair value measurement. Although the constant prepayment rate and the discount rate are not directly interrelated, they will generally move in opposite directions. Loan servicing rights are classified as Level 3 measurements due to the use of significant unobservable inputs, as well as significant management judgment and estimation. | ||||||||||
Other real estate owned (Foreclosed assets): Nonrecurring adjustments to certain commercial and residential real estate properties classified as other real estate owned are measured at the lower of carrying amount or fair value, less costs to sell. Fair values are generally based on third party appraisals of the property, resulting in a Level 3 classification. The appraisals are sometimes further discounted based on management's historical knowledge, changes in market conditions from the time of valuation, and/or management's expertise and knowledge of the client and client's business. Such discounts are typically significant and result in a Level 3 classification of the inputs for determining fair value. In cases where the carrying amount exceeds the fair value, less costs to sell, an impairment loss is recognized. | ||||||||||
Commitments to extend credit and letters of credit: Commitments to extend credit and fund letters of credit are principally at current interest rates, and, therefore, the carrying amount approximates fair value. The fair value of commitments is not material. | ||||||||||
Assets Measured at Fair Value | ||||||||||
The following tables present for each of the fair-value hierarchy levels the Company's assets that are measured at fair value on a recurring and non-recurring basis as of the dates indicated (in thousands). | ||||||||||
Quoted Prices in | ||||||||||
Active Markets | Significant | |||||||||
for Identical | Other | Significant | ||||||||
Assets or | Observable | Unobservable | ||||||||
Liabilities | Inputs | Inputs | ||||||||
(Level 1) | (Level 2) | (Level 3) | Total | |||||||
30-Jun-14 | ||||||||||
Measured on a recurring basis: | ||||||||||
Securities available for sale: | ||||||||||
U.S. Government agencies and government sponsored enterprises | $ | - | $ | 135,117 | $ | - | $ | 135,117 | ||
Mortgage-backed securities | - | 466,555 | - | 466,555 | ||||||
Asset-backed securities | - | 231 | - | 231 | ||||||
$ | - | $ | 601,903 | $ | - | $ | 601,903 | |||
Measured on a nonrecurring basis: | ||||||||||
Loans: | ||||||||||
Loans held for sale | $ | - | $ | 201 | $ | - | $ | 201 | ||
Collateral dependent impaired loans | - | - | 2,075 | 2,075 | ||||||
Other assets: | ||||||||||
Loan servicing rights | - | - | 1,446 | 1,446 | ||||||
Other real estate owned | - | - | 554 | 554 | ||||||
$ | - | $ | 201 | $ | 4,075 | $ | 4,276 | |||
31-Dec-13 | ||||||||||
Measured on a recurring basis: | ||||||||||
Securities available for sale: | ||||||||||
U.S. Government agencies and government sponsored enterprises | $ | - | $ | 134,452 | $ | - | $ | 134,452 | ||
Mortgage-backed securities | - | 474,549 | - | 474,549 | ||||||
Asset-backed securities | - | 399 | - | 399 | ||||||
$ | - | $ | 609,400 | $ | - | $ | 609,400 | |||
Measured on a nonrecurring basis: | ||||||||||
Loans: | ||||||||||
Loans held for sale | $ | - | $ | 3,381 | $ | - | $ | 3,381 | ||
Collateral dependent impaired loans | - | - | 9,227 | 9,227 | ||||||
Other assets: | ||||||||||
Loan servicing rights | - | - | 1,565 | 1,565 | ||||||
Other real estate owned | - | - | 333 | 333 | ||||||
$ | - | $ | 3,381 | $ | 11,125 | $ | 14,506 | |||
There were no transfers between Levels 1 and 2 during the six months ended June 30, 2014 and 2013. There were no liabilities measured at fair value on a recurring or nonrecurring basis during the six month periods ended June 30, 2014 and 2013. | ||||||||||
The following table presents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis for which the Company has utilized Level 3 inputs to determine fair value (dollars in thousands). | ||||||||||
Fair | Unobservable Input | |||||||||
Asset | Value | Valuation Technique | Unobservable Input | Value or Range | ||||||
Collateral dependent impaired loans | $ | 2,075 | Appraisal of collateral (1) | Appraisal adjustments (2) | 25% - 100% discount | |||||
Discounted cash flow | Discount rate | 4.5% (3) | ||||||||
Risk premium rate | 11.0% (3) | |||||||||
Loan servicing rights | 1,446 | Discounted cash flow | Discount rate | 5.2% (3) | ||||||
Constant prepayment rate | 12.4% (3) | |||||||||
Other real estate owned | 554 | Appraisal of collateral (1) | Appraisal adjustments (2) | 27% - 43% discount | ||||||
(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. | ||||||||||
(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. | ||||||||||
(3) Weighted averages. | ||||||||||
Changes in Level 3 Fair Value Measurements | ||||||||||
There were no assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of or during the six months ended June 30, 2014. | ||||||||||
Disclosures about Fair Value of Financial Instruments | ||||||||||
The assumptions used below are expected to approximate those that market participants would use in valuing these financial instruments. | ||||||||||
Fair value estimates are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of timing, amount of expected future cash flows and the credit standing of the issuer. Such estimates do not consider the tax impact of the realization of unrealized gains or losses. In some cases, the fair value estimates cannot be substantiated by comparison to independent markets. In addition, the disclosed fair value may not be realized in the immediate settlement of the financial instrument. Care should be exercised in deriving conclusions about our business, its value or financial position based on the fair value information of financial instruments presented below. | ||||||||||
The estimated fair value approximates carrying value for cash and cash equivalents, Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB") stock, accrued interest receivable, non-maturity deposits, short-term borrowings and accrued interest payable. Fair value estimates for other financial instruments not included elsewhere in this disclosure are discussed below. | ||||||||||
Securities held to maturity: The fair value of the Company's investment securities held to maturity is primarily measured using information from a third-party pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond's terms and conditions, among other things. | ||||||||||
Loans: The fair value of the Company's loans was estimated by discounting the expected future cash flows using the current interest rates at which similar loans would be made for the same remaining maturities. Loans were first segregated by type such as commercial, residential mortgage, and consumer, and were then further segmented into fixed and variable rate and loan quality categories. Expected future cash flows were projected based on contractual cash flows, adjusted for estimated prepayments. | ||||||||||
Time deposits: The fair value of time deposits was estimated using a discounted cash flow approach that applies prevailing market interest rates for similar maturity instruments. The fair values of the Company's time deposit liabilities do not take into consideration the value of the Company's long-term relationships with depositors, which may have significant value. | ||||||||||
The following presents (in thousands) the carrying amount, estimated fair value, and placement in the fair value measurement hierarchy of the Company's financial instruments as of the dates indicated. | ||||||||||
Level in | 30-Jun-14 | 31-Dec-13 | ||||||||
Fair Value | Estimated | Estimated | ||||||||
Measurement | Carrying | Fair | Carrying | Fair | ||||||
Hierarchy | Amount | Value | Amount | Value | ||||||
Financial assets: | ||||||||||
Cash and cash equivalents | Level 1 | $ | 64,832 | $ | 64,832 | $ | 59,692 | $ | 59,692 | |
Securities available for sale | Level 2 | 601,903 | 601,903 | 609,400 | 609,400 | |||||
Securities held to maturity | Level 2 | 262,057 | 266,640 | 249,785 | 250,657 | |||||
Loans held for sale | Level 2 | 201 | 201 | 3,381 | 3,381 | |||||
Loans | Level 2 | 1,867,423 | 1,881,386 | 1,797,656 | 1,802,407 | |||||
Loans (1) | Level 3 | 2,075 | 2,075 | 9,227 | 9,227 | |||||
Accrued interest receivable | Level 1 | 7,647 | 7,647 | 8,150 | 8,150 | |||||
FHLB and FRB stock | Level 2 | 15,855 | 15,855 | 19,663 | 19,663 | |||||
Financial liabilities: | ||||||||||
Non-maturity deposits | Level 1 | 1,824,906 | 1,824,906 | 1,724,133 | 1,724,133 | |||||
Time deposits | Level 2 | 625,172 | 626,578 | 595,923 | 596,928 | |||||
Short-term borrowings | Level 1 | 254,683 | 254,683 | 337,042 | 337,042 | |||||
Accrued interest payable | Level 1 | 3,658 | 3,658 | 3,407 | 3,407 | |||||
(1) Comprised of collateral dependent impaired loans. | ||||||||||
Recovered_Sheet1
Basis Of Presentation And Summary Of Significant Accounting Policies (Policy) | 6 Months Ended |
Jun. 30, 2014 | |
Basis of Presentation And Summary Of Significant Accounting Policies [Abstract] | ' |
Nature Of Operations | ' |
Nature of Operations | |
Financial Institutions, Inc., is a financial holding company organized in 1931 under the laws of New York State ("New York" or "NYS"). Through its wholly-owned New York chartered banking subsidiary, Five Star Bank, Financial Institutions, Inc. offers a broad array of deposit, lending and other financial services to individuals, municipalities and businesses in Western and Central New York. The Company has also expanded its indirect lending network to include relationships with franchised automobile dealers in the Capital District of New York and Northern Pennsylvania. References to "the Company" mean the consolidated reporting entities and references to "the Bank" mean Five Star Bank. | |
Basis Of Presentation | ' |
Basis of Presentation | |
The consolidated financial statements include the accounts of Financial Institutions, Inc. and its subsidiary. All significant intercompany accounts and transactions have been eliminated in consolidation. The accounting and reporting policies conform to U.S. generally accepted accounting principles ("GAAP"). Certain information and footnote disclosures normally included in financial statements prepared in conformity with GAAP have been condensed or omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying consolidated financial statements reflect all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated statements of financial condition, income, comprehensive income, changes in shareholders' equity and cash flows for the periods indicated, and contain adequate disclosure to make the information presented not misleading. Prior years' consolidated financial statements are re-classified whenever necessary to conform to the current year's presentation. These consolidated financial statements should be read in conjunction with the Company's 2013 Annual Report on Form 10-K. The results of operations for any interim periods are not necessarily indicative of the results which may be expected for the entire year. | |
Subsequent Events | ' |
Subsequent Events | |
The Company has evaluated events and transactions for potential recognition or disclosure through the day the financial statements were issued. Other than completing the acquisition of Scott Danahy Naylon Co., Inc. ("SDN"), as described below, the Company did not have any material recognizable subsequent events. | |
On August 1, 2014, the Company completed its acquisition of SDN, a full service insurance agency located in Amherst, New York. SDN provides a broad range of insurance services to both personal and business clients. SDN will operate as a subsidiary of Financial Institutions, Inc. and an affiliate of Five Star Bank. | |
Use Of Estimates | ' |
Use of Estimates | |
The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates relate to the determination of the allowance for loan losses, the carrying value of goodwill and deferred tax assets, the valuation and other than temporary impairment ("OTTI") considerations related to the securities portfolio, and assumptions used in the defined benefit pension plan accounting. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In January 2014, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2014-04, | |
Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The objective of this guidance is to clarify when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. ASU No. 2014-04 states that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, ASU No. 2014-04 requires interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU No. 2014-04 is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of ASU No. 2014-04 is not expected to have a material impact on the Company's consolidated statements of income and condition. | |
Earnings_Per_Common_Share_EPS_
Earnings Per Common Share ("EPS") (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Earnings Per Common Share ("EPS") [Abstract] | ' | ||||||||||||
Reconciliation Of Earnings And Shares Used In Calculating Basic And Diluted EPS | ' | ||||||||||||
Three months ended | Six months ended | ||||||||||||
June 30, | June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Net income available to common shareholders | $ | 6,667 | $ | 6,483 | $ | 13,520 | $ | 12,264 | |||||
Weighted average common shares outstanding: | |||||||||||||
Total shares issued | 14,162 | 14,162 | 14,162 | 14,162 | |||||||||
Unvested restricted stock awards | (67 | ) | (66 | ) | (65 | ) | (73 | ) | |||||
Treasury shares | (304 | ) | (357 | ) | (315 | ) | (361 | ) | |||||
Total basic weighted average common shares outstanding | 13,791 | 13,739 | 13,782 | 13,728 | |||||||||
Incremental shares from assumed: | |||||||||||||
Exercise of stock options | 28 | 5 | 25 | 6 | |||||||||
Vesting of restricted stock awards | 19 | 23 | 24 | 33 | |||||||||
Total diluted weighted average common shares outstanding | 13,838 | 13,767 | 13,831 | 13,767 | |||||||||
Basic earnings per common share | $ | 0.48 | $ | 0.47 | $ | 0.98 | $ | 0.89 | |||||
Diluted earnings per common share | $ | 0.48 | $ | 0.47 | $ | 0.98 | $ | 0.89 | |||||
Shares Excluded From Computation Of Diluted EPS | ' | ||||||||||||
Stock options | - | 225 | 7 | 188 | |||||||||
Restricted stock awards | 3 | 9 | 1 | 5 | |||||||||
3 | 234 | 8 | 193 |
Investment_Securities_Tables
Investment Securities (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Investment Securities [Abstract] | ' | ||||||||||||
Amortized Cost And Fair Value Of Investment Securities | ' | ||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
30-Jun-14 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 134,448 | $ | 1,719 | $ | 1,050 | $ | 135,117 | |||||
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 172,449 | 1,993 | 2,217 | 172,225 | |||||||||
Federal Home Loan Mortgage Corporation | 32,922 | 894 | 10 | 33,806 | |||||||||
Government National Mortgage Association | 62,946 | 2,551 | 54 | 65,443 | |||||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 63,224 | 431 | 1,427 | 62,228 | |||||||||
Federal Home Loan Mortgage Corporation | 96,922 | 215 | 3,289 | 93,848 | |||||||||
Government National Mortgage Association | 36,852 | 911 | 73 | 37,690 | |||||||||
Privately issued | - | 1,315 | - | 1,315 | |||||||||
Total collateralized mortgage obligations | 196,998 | 2,872 | 4,789 | 195,081 | |||||||||
Total mortgage-backed securities | 465,315 | 8,310 | 7,070 | 466,555 | |||||||||
Asset-backed securities | - | 231 | - | 231 | |||||||||
Total available for sale securities | $ | 599,763 | $ | 10,260 | $ | 8,120 | $ | 601,903 | |||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | $ | 262,057 | $ | 4,661 | $ | 78 | $ | 266,640 | |||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
31-Dec-13 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 135,840 | $ | 1,414 | $ | 2,802 | $ | 134,452 | |||||
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 173,507 | 1,511 | 4,810 | 170,208 | |||||||||
Federal Home Loan Mortgage Corporation | 36,737 | 562 | 205 | 37,094 | |||||||||
Government National Mortgage Association | 61,832 | 2,152 | 142 | 63,842 | |||||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 63,838 | 261 | 3,195 | 60,904 | |||||||||
Federal Home Loan Mortgage Corporation | 102,660 | 169 | 5,856 | 96,973 | |||||||||
Government National Mortgage Association | 43,734 | 913 | 586 | 44,061 | |||||||||
Privately issued | - | 1,467 | - | 1,467 | |||||||||
Total collateralized mortgage obligations | 210,232 | 2,810 | 9,637 | 203,405 | |||||||||
Total mortgage-backed securities | 482,308 | 7,035 | 14,794 | 474,549 | |||||||||
Asset-backed securities | 18 | 381 | - | 399 | |||||||||
Total available for sale securities | $ | 618,166 | $ | 8,830 | $ | 17,596 | $ | 609,400 | |||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | $ | 249,785 | $ | 1,340 | $ | 468 | $ | 250,657 | |||||
Scheduled Maturities Of Securities Available For Sale And Securities Held To Maturity | ' | ||||||||||||
Amortized | Fair | ||||||||||||
Cost | Value | ||||||||||||
Debt securities available for sale: | |||||||||||||
Due in one year or less | $ | 25,204 | $ | 25,204 | |||||||||
Due from one to five years | 83,162 | 84,857 | |||||||||||
Due after five years through ten years | 205,664 | 205,297 | |||||||||||
Due after ten years | 285,733 | 286,545 | |||||||||||
$ | 599,763 | $ | 601,903 | ||||||||||
Debt securities held to maturity: | |||||||||||||
Due in one year or less | $ | 23,466 | $ | 23,556 | |||||||||
Due from one to five years | 132,765 | 134,973 | |||||||||||
Due after five years through ten years | 105,784 | 108,057 | |||||||||||
Due after ten years | 42 | 54 | |||||||||||
$ | 262,057 | $ | 266,640 | ||||||||||
Sales And Calls Of Securities Available For Sale | ' | ||||||||||||
Three months ended | Six months ended | ||||||||||||
June 30, | June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Proceeds from sales and calls | $ | 41,958 | $ | 375 | $ | 61,428 | $ | 1,327 | |||||
Gross realized gains | 949 | 332 | 1,262 | 1,224 | |||||||||
Investments' Gross Unrealized Losses And Fair Value | ' | ||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||
30-Jun-14 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 30,830 | $ | 2 | $ | 41,159 | $ | 1,048 | $ | 71,989 | $ | 1,050 | |
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 34,572 | 107 | 64,582 | 2,110 | 99,154 | 2,217 | |||||||
Federal Home Loan Mortgage Corporation | - | - | 3,750 | 10 | 3,750 | 10 | |||||||
Government National Mortgage Association | 5,440 | 54 | - | - | 5,440 | 54 | |||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 9,010 | 22 | 37,314 | 1,405 | 46,324 | 1,427 | |||||||
Federal Home Loan Mortgage Corporation | 2,619 | 22 | 83,809 | 3,267 | 86,428 | 3,289 | |||||||
Government National Mortgage Association | - | - | 5,683 | 73 | 5,683 | 73 | |||||||
Total collateralized mortgage obligations | 11,629 | 44 | 126,806 | 4,745 | 138,435 | 4,789 | |||||||
Total mortgage-backed securities | 51,641 | 205 | 195,138 | 6,865 | 246,779 | 7,070 | |||||||
Total available for sale securities | 82,471 | 207 | 236,297 | 7,913 | 318,768 | 8,120 | |||||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | 13,285 | 78 | - | - | 13,285 | 78 | |||||||
Total | $ | 95,756 | $ | 285 | $ | 236,297 | $ | 7,913 | $ | 332,053 | $ | 8,198 | |
31-Dec-13 | |||||||||||||
Securities available for sale: | |||||||||||||
U.S. Government agencies and government | |||||||||||||
sponsored enterprises | $ | 86,177 | $ | 2,788 | $ | 2,717 | $ | 14 | $ | 88,894 | $ | 2,802 | |
Mortgage-backed securities: | |||||||||||||
Federal National Mortgage Association | 103,778 | 3,491 | 20,689 | 1,319 | 124,467 | 4,810 | |||||||
Federal Home Loan Mortgage Corporation | 14,166 | 205 | - | - | 14,166 | 205 | |||||||
Government National Mortgage Association | 14,226 | 142 | - | - | 14,226 | 142 | |||||||
Collateralized mortgage obligations: | |||||||||||||
Federal National Mortgage Association | 35,632 | 2,586 | 11,760 | 609 | 47,392 | 3,195 | |||||||
Federal Home Loan Mortgage Corporation | 72,655 | 4,980 | 15,762 | 876 | 88,417 | 5,856 | |||||||
Government National Mortgage Association | 8,396 | 586 | - | - | 8,396 | 586 | |||||||
Total collateralized mortgage obligations | 116,683 | 8,152 | 27,522 | 1,485 | 144,205 | 9,637 | |||||||
Total mortgage-backed securities | 248,853 | 11,990 | 48,211 | 2,804 | 297,064 | 14,794 | |||||||
Total available for sale securities | 335,030 | 14,778 | 50,928 | 2,818 | 385,958 | 17,596 | |||||||
Securities held to maturity: | |||||||||||||
State and political subdivisions | 72,269 | 468 | - | - | 72,269 | 468 | |||||||
Total | $ | 407,299 | $ | 15,246 | $ | 50,928 | $ | 2,818 | $ | 458,227 | $ | 18,064 |
Loans_Tables
Loans (Tables) | 6 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Loans [Abstract] | ' | |||||||||||||||
Loan Portfolio | ' | |||||||||||||||
Principal | Net Deferred | |||||||||||||||
Amount | Loan Costs | |||||||||||||||
Outstanding | (Fees) | Loans, Net | ||||||||||||||
30-Jun-14 | ||||||||||||||||
Commercial business | $ | 277,609 | $ | 76 | $ | 277,685 | ||||||||||
Commercial mortgage | 469,936 | (881 | ) | 469,055 | ||||||||||||
Residential mortgage | 106,342 | (136 | ) | 106,206 | ||||||||||||
Home equity | 363,243 | 6,335 | 369,578 | |||||||||||||
Consumer indirect | 626,418 | 26,330 | 652,748 | |||||||||||||
Other consumer | 21,205 | 187 | 21,392 | |||||||||||||
Total | $ | 1,864,753 | $ | 31,911 | 1,896,664 | |||||||||||
Allowance for loan losses | (27,166 | ) | ||||||||||||||
Total loans, net | $ | 1,869,498 | ||||||||||||||
31-Dec-13 | ||||||||||||||||
Commercial business | $ | 265,751 | $ | 15 | $ | 265,766 | ||||||||||
Commercial mortgage | 470,312 | (1,028 | ) | 469,284 | ||||||||||||
Residential mortgage | 113,101 | (56 | ) | 113,045 | ||||||||||||
Home equity | 320,658 | 5,428 | 326,086 | |||||||||||||
Consumer indirect | 609,390 | 26,978 | 636,368 | |||||||||||||
Other consumer | 22,893 | 177 | 23,070 | |||||||||||||
Total | $ | 1,802,105 | $ | 31,514 | 1,833,619 | |||||||||||
Allowance for loan losses | (26,736 | ) | ||||||||||||||
Total loans, net | $ | 1,806,883 | ||||||||||||||
Recorded Investment By Loan Class In Current And Nonaccrual Loans | ' | |||||||||||||||
Greater | ||||||||||||||||
30-59 Days | 60-89 Days | Than 90 | Total Past | Total | ||||||||||||
Past Due | Past Due | Days | Due | Nonaccrual | Current | Loans | ||||||||||
30-Jun-14 | ||||||||||||||||
Commercial business | $ | 2,005 | $ | - | $ | - | $ | 2,005 | $ | 3,589 | $ | 272,015 | $ | 277,609 | ||
Commercial mortgage | - | - | - | - | 2,734 | 467,202 | 469,936 | |||||||||
Residential mortgage | 408 | - | - | 408 | 758 | 105,176 | 106,342 | |||||||||
Home equity | 235 | 32 | - | 267 | 371 | 362,605 | 363,243 | |||||||||
Consumer indirect | 1,590 | 324 | - | 1,914 | 1,427 | 623,077 | 626,418 | |||||||||
Other consumer | 139 | 20 | 6 | 165 | 6 | 21,034 | 21,205 | |||||||||
Total loans, gross | $ | 4,377 | $ | 376 | $ | 6 | $ | 4,759 | $ | 8,885 | $ | 1,851,109 | $ | 1,864,753 | ||
31-Dec-13 | ||||||||||||||||
Commercial business | $ | 558 | $ | 199 | $ | - | $ | 757 | $ | 3,474 | $ | 261,520 | $ | 265,751 | ||
Commercial mortgage | 800 | - | - | 800 | 9,663 | 459,849 | 470,312 | |||||||||
Residential mortgage | 542 | - | - | 542 | 1,078 | 111,481 | 113,101 | |||||||||
Home equity | 750 | 143 | - | 893 | 925 | 318,840 | 320,658 | |||||||||
Consumer indirect | 2,129 | 476 | - | 2,605 | 1,471 | 605,314 | 609,390 | |||||||||
Other consumer | 126 | 72 | 6 | 204 | 5 | 22,684 | 22,893 | |||||||||
Total loans, gross | $ | 4,905 | $ | 890 | $ | 6 | $ | 5,801 | $ | 16,616 | $ | 1,779,688 | $ | 1,802,105 | ||
Information Related To Loans Modified In A TDR | ' | |||||||||||||||
Quarter-to-Date | Year-to-Date | |||||||||||||||
Pre- | Post- | Pre- | Post- | |||||||||||||
Modification | Modification | Modification | Modification | |||||||||||||
Outstanding | Outstanding | Outstanding | Outstanding | |||||||||||||
Number of | Recorded | Recorded | Number of | Recorded | Recorded | |||||||||||
Contracts | Investment | Investment | Contracts | Investment | Investment | |||||||||||
30-Jun-14 | ||||||||||||||||
Commercial business | 1 | $ | 1,381 | $ | 1,381 | 1 | $ | 1,381 | $ | 1,381 | ||||||
Commercial mortgage | - | - | - | - | - | - | ||||||||||
Total | 1 | $ | 1,381 | $ | 1,381 | 1 | $ | 1,381 | $ | 1,381 | ||||||
30-Jun-13 | ||||||||||||||||
Commercial business | 1 | $ | 1,273 | $ | 1,273 | 3 | $ | 1,462 | $ | 1,453 | ||||||
Commercial mortgage | - | - | - | - | - | - | ||||||||||
Total | 1 | $ | 1,273 | $ | 1,273 | 3 | $ | 1,462 | $ | 1,453 | ||||||
Summary Of Impaired Loans | ' | |||||||||||||||
Unpaid | Average | Interest | ||||||||||||||
Recorded | Principal | Related | Recorded | Income | ||||||||||||
Investment(1) | Balance(1) | Allowance | Investment | Recognized | ||||||||||||
30-Jun-14 | ||||||||||||||||
With no related allowance recorded: | ||||||||||||||||
Commercial business | $ | 1,618 | $ | 2,146 | $ | - | $ | 1,823 | $ | - | ||||||
Commercial mortgage | 1,142 | 1,173 | - | 1,093 | - | |||||||||||
2,760 | 3,319 | - | 2,916 | - | ||||||||||||
With an allowance recorded: | ||||||||||||||||
Commercial business | 1,971 | 1,982 | 1,056 | 1,837 | - | |||||||||||
Commercial mortgage | 1,592 | 1,592 | 432 | 6,733 | - | |||||||||||
3,563 | 3,574 | 1,488 | 8,570 | - | ||||||||||||
$ | 6,323 | $ | 6,893 | $ | 1,488 | $ | 11,486 | $ | - | |||||||
31-Dec-13 | ||||||||||||||||
With no related allowance recorded: | ||||||||||||||||
Commercial business | $ | 1,777 | $ | 2,273 | $ | - | $ | 659 | $ | - | ||||||
Commercial mortgage | 875 | 906 | - | 760 | - | |||||||||||
2,652 | 3,179 | - | 1,419 | - | ||||||||||||
With an allowance recorded: | ||||||||||||||||
Commercial business | 1,697 | 1,717 | 201 | 3,196 | - | |||||||||||
Commercial mortgage | 8,788 | 9,188 | 1,057 | 3,758 | - | |||||||||||
10,485 | 10,905 | 1,258 | 6,954 | - | ||||||||||||
$ | 13,137 | $ | 14,084 | $ | 1,258 | $ | 8,373 | $ | - | |||||||
(1) Difference between recorded investment and unpaid principal balance represents partial charge-offs. | ||||||||||||||||
Commercial Loan Portfolio Categorized By Internally Assigned Asset Classification | ' | |||||||||||||||
Commercial | Commercial | |||||||||||||||
Business | Mortgage | |||||||||||||||
30-Jun-14 | ||||||||||||||||
Uncriticized | $ | 260,164 | $ | 453,747 | ||||||||||||
Special mention | 7,708 | 6,136 | ||||||||||||||
Substandard | 9,737 | 10,053 | ||||||||||||||
Doubtful | - | - | ||||||||||||||
Total | $ | 277,609 | $ | 469,936 | ||||||||||||
31-Dec-13 | ||||||||||||||||
Uncriticized | $ | 250,553 | $ | 449,447 | ||||||||||||
Special mention | 6,311 | 6,895 | ||||||||||||||
Substandard | 8,887 | 13,970 | ||||||||||||||
Doubtful | - | - | ||||||||||||||
Total | $ | 265,751 | $ | 470,312 | ||||||||||||
Retail Loan Portfolio Categorized By Payment Status | ' | |||||||||||||||
Residential | Home | Consumer | Other | |||||||||||||
Mortgage | Equity | Indirect | Consumer | |||||||||||||
30-Jun-14 | ||||||||||||||||
Performing | $ | 105,584 | $ | 362,872 | $ | 624,991 | $ | 21,193 | ||||||||
Non-performing | 758 | 371 | 1,427 | 12 | ||||||||||||
Total | $ | 106,342 | $ | 363,243 | $ | 626,418 | $ | 21,205 | ||||||||
31-Dec-13 | ||||||||||||||||
Performing | $ | 112,023 | $ | 319,733 | $ | 607,919 | $ | 22,882 | ||||||||
Non-performing | 1,078 | 925 | 1,471 | 11 | ||||||||||||
Total | $ | 113,101 | $ | 320,658 | $ | 609,390 | $ | 22,893 | ||||||||
Loans And The Related Allowance For Loan Losses | ' | |||||||||||||||
Commercial | Commercial | Residential | Home | Consumer | Other | |||||||||||
Business | Mortgage | Mortgage | Equity | Indirect | Consumer | Total | ||||||||||
30-Jun-14 | ||||||||||||||||
Loans: | ||||||||||||||||
Ending balance | $ | 277,609 | $ | 469,936 | $ | 106,342 | $ | 363,243 | $ | 626,418 | $ | 21,205 | $ | 1,864,753 | ||
Evaluated for impairment: | ||||||||||||||||
Individually | $ | 3,589 | $ | 2,734 | $ | - | $ | - | $ | - | $ | - | $ | 6,323 | ||
Collectively | $ | 274,020 | $ | 467,202 | $ | 106,342 | $ | 363,243 | $ | 626,418 | $ | 21,205 | $ | 1,858,430 | ||
Allowance for loan losses: | ||||||||||||||||
Ending balance | $ | 5,402 | $ | 7,633 | $ | 618 | $ | 1,607 | $ | 11,446 | $ | 460 | $ | 27,166 | ||
Evaluated for impairment: | ||||||||||||||||
Individually | $ | 1,056 | $ | 432 | $ | - | $ | - | $ | - | $ | - | $ | 1,488 | ||
Collectively | $ | 4,346 | $ | 7,201 | $ | 618 | $ | 1,607 | $ | 11,446 | $ | 460 | $ | 25,678 | ||
30-Jun-13 | ||||||||||||||||
Loans: | ||||||||||||||||
Ending balance | $ | 257,784 | $ | 438,513 | $ | 117,939 | $ | 301,429 | $ | 572,350 | $ | 24,107 | $ | 1,712,122 | ||
Evaluated for impairment: | ||||||||||||||||
Individually | $ | 5,043 | $ | 3,073 | $ | - | $ | - | $ | - | $ | - | $ | 8,116 | ||
Collectively | $ | 252,741 | $ | 435,440 | $ | 117,939 | $ | 301,429 | $ | 572,350 | $ | 24,107 | $ | 1,704,006 | ||
Allowance for loan losses: | ||||||||||||||||
Ending balance | $ | 4,755 | $ | 7,125 | $ | 701 | $ | 1,424 | $ | 11,095 | $ | 490 | $ | 25,590 | ||
Evaluated for impairment: | ||||||||||||||||
Individually | $ | 956 | $ | 554 | $ | - | $ | - | $ | - | $ | - | $ | 1,510 | ||
Collectively | $ | 3,799 | $ | 6,571 | $ | 701 | $ | 1,424 | $ | 11,095 | $ | 490 | $ | 24,080 | ||
Changes In The Allowance For Loan Losses | ' | |||||||||||||||
Commercial | Commercial | Residential | Home | Consumer | Other | |||||||||||
Business | Mortgage | Mortgage | Equity | Indirect | Consumer | Total | ||||||||||
Three months ended June 30, 2014 | ||||||||||||||||
Beginning balance | $ | 4,689 | $ | 7,980 | $ | 672 | $ | 1,371 | $ | 11,984 | $ | 456 | $ | 27,152 | ||
Charge-offs | 3 | 165 | 69 | 156 | 2,331 | 224 | 2,948 | |||||||||
Recoveries | 68 | 6 | 8 | 29 | 995 | 98 | 1,204 | |||||||||
Provision (credit) | 648 | (188 | ) | 7 | 363 | 798 | 130 | 1,758 | ||||||||
Ending balance | $ | 5,402 | $ | 7,633 | $ | 618 | $ | 1,607 | $ | 11,446 | $ | 460 | $ | 27,166 | ||
Six months ended June 30, 2014 | ||||||||||||||||
Beginning balance | $ | 4,273 | $ | 7,743 | $ | 676 | $ | 1,367 | $ | 12,230 | $ | 447 | $ | 26,736 | ||
Charge-offs | 71 | 165 | 147 | 262 | 4,786 | 493 | 5,924 | |||||||||
Recoveries | 97 | 13 | 29 | 40 | 2,100 | 211 | 2,490 | |||||||||
Provision | 1,103 | 42 | 60 | 462 | 1,902 | 295 | 3,864 | |||||||||
Ending balance | $ | 5,402 | $ | 7,633 | $ | 618 | $ | 1,607 | $ | 11,446 | $ | 460 | $ | 27,166 | ||
Commercial | Commercial | Residential | Home | Consumer | Other | |||||||||||
Business | Mortgage | Mortgage | Equity | Indirect | Consumer | Total | ||||||||||
Three months ended June 30, 2013 | ||||||||||||||||
Beginning balance | $ | 5,167 | $ | 6,971 | $ | 668 | $ | 1,283 | $ | 11,312 | $ | 426 | $ | 25,827 | ||
Charge-offs | 292 | 106 | 85 | 53 | 1,929 | 229 | 2,694 | |||||||||
Recoveries | 205 | 143 | 13 | 73 | 759 | 71 | 1,264 | |||||||||
Provision (credit) | (325 | ) | 117 | 105 | 121 | 953 | 222 | 1,193 | ||||||||
Ending balance | $ | 4,755 | $ | 7,125 | $ | 701 | $ | 1,424 | $ | 11,095 | $ | 490 | $ | 25,590 | ||
Six months ended June 30, 2013 | ||||||||||||||||
Beginning balance | $ | 4,884 | $ | 6,581 | $ | 740 | $ | 1,282 | $ | 10,715 | $ | 512 | $ | 24,714 | ||
Charge-offs | 531 | 109 | 247 | 322 | 3,647 | 481 | 5,337 | |||||||||
Recoveries | 242 | 157 | 30 | 110 | 1,564 | 208 | 2,311 | |||||||||
Provision | 160 | 496 | 178 | 354 | 2,463 | 251 | 3,902 | |||||||||
Ending balance | $ | 4,755 | $ | 7,125 | $ | 701 | $ | 1,424 | $ | 11,095 | $ | 490 | $ | 25,590 |
Goodwill_And_Other_Intangible_1
Goodwill And Other Intangible Assets (Tables) | 6 Months Ended | ||||||
Jun. 30, 2014 | |||||||
Goodwill And Other Intangible Assets [Abstract] | ' | ||||||
Other intangible assets | ' | ||||||
June 30, | December 31, | ||||||
2014 | 2013 | ||||||
Gross carrying amount | $ | 2,042 | $ | 2,042 | |||
Accumulated amortization | (752 | ) | (576 | ) | |||
Net carrying value | $ | 1,290 | $ | 1,466 | |||
Estimated Core Deposit Intangible Amortization Expense | ' | ||||||
2014 (remainder of year) | $ | 165 | |||||
2015 | 296 | ||||||
2016 | 251 | ||||||
2017 | 205 | ||||||
2018 | 160 | ||||||
2019 | 115 |
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 6 Months Ended | |||||
Jun. 30, 2014 | ||||||
Shareholders' Equity [Abstract] | ' | |||||
Changes In Shares Of Common Stock | ' | |||||
Outstanding | Treasury | Issued | ||||
30-Jun-14 | ||||||
Shares outstanding at December 31, 2013 | 13,829,355 | 332,242 | 14,161,597 | |||
Restricted stock awards issued | 43,242 | (43,242 | ) | - | ||
Restricted stock awards forfeited | (8,144 | ) | 8,144 | - | ||
Stock options exercised | 7,125 | (7,125 | ) | - | ||
Treasury stock purchases | (9,102 | ) | 9,102 | - | ||
Shares outstanding at June 30, 2014 | 13,862,476 | 299,121 | 14,161,597 | |||
30-Jun-13 | ||||||
Shares outstanding at December 31, 2012 | 13,787,709 | 373,888 | 14,161,597 | |||
Restricted stock awards issued | 42,035 | (42,035 | ) | - | ||
Restricted stock awards forfeited | (18,977 | ) | 18,977 | - | ||
Stock options exercised | 3,300 | (3,300 | ) | - | ||
Treasury stock purchases | (11,349 | ) | 11,349 | - | ||
Directors' retainer | 5,672 | (5,672 | ) | - | ||
Shares outstanding at June 30, 2013 | 13,808,390 | 353,207 | 14,161,597 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||
Components Of Other Comprehensive Income (Loss) | ' | |||||||||
Pre-tax | Net-of-tax | |||||||||
Amount | Tax Effect | Amount | ||||||||
30-Jun-14 | ||||||||||
Securities available for sale and transferred securities: | ||||||||||
Change in unrealized gain/loss during the period | $ | 12,168 | $ | 4,821 | $ | 7,347 | ||||
Reclassification adjustment for net gains included in net income (1) | (1,521 | ) | (602 | ) | (919 | ) | ||||
Total securities available for sale and transferred securities | 10,647 | 4,219 | 6,428 | |||||||
Amortization of pension and post-retirement items: | ||||||||||
Prior service credit | (24 | ) | (9 | ) | (15 | ) | ||||
Net actuarial losses | 88 | 34 | 54 | |||||||
Total pension and post-retirement obligations | 64 | 25 | 39 | |||||||
Other comprehensive income | $ | 10,711 | $ | 4,244 | $ | 6,467 | ||||
30-Jun-13 | ||||||||||
Securities available for sale: | ||||||||||
Change in unrealized gain/loss during the period | $ | (26,571 | ) | $ | (10,525 | ) | $ | (16,046 | ) | |
Reclassification adjustment for net gains included in net income | (1,224 | ) | (485 | ) | (739 | ) | ||||
Total securities available for sale | (27,795 | ) | (11,010 | ) | (16,785 | ) | ||||
Amortization of pension and post-retirement items: | ||||||||||
Prior service credit | (24 | ) | (9 | ) | (15 | ) | ||||
Net actuarial losses | 682 | 269 | 413 | |||||||
Total pension and post-retirement obligations | 658 | 260 | 398 | |||||||
Other comprehensive loss | $ | (27,137 | ) | $ | (10,750 | ) | $ | (16,387 | ) | |
(1) Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company's reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield. | ||||||||||
Components Of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||
Securities | ||||||||||
Available for | Pension and | Accumulated | ||||||||
Sale and | Post- | Other | ||||||||
Transferred | retirement | Comprehensive | ||||||||
Securities | Obligations | Income (Loss) | ||||||||
30-Jun-14 | ||||||||||
Balance at beginning of year | $ | (5,337 | ) | $ | (4,850 | ) | $ | (10,187 | ) | |
Other comprehensive income before reclassifications | 7,347 | - | 7,347 | |||||||
Amounts reclassified from accumulated other comprehensive income | (919 | ) | 39 | (880 | ) | |||||
Net current period other comprehensive income | 6,428 | 39 | 6,467 | |||||||
Balance at end of period | $ | 1,091 | $ | (4,811 | ) | $ | (3,720 | ) | ||
30-Jun-13 | ||||||||||
Balance at beginning of year | $ | 16,060 | $ | (12,807 | ) | $ | 3,253 | |||
Other comprehensive (loss) income before reclassifications | (16,046 | ) | - | (16,046 | ) | |||||
Amounts reclassified from accumulated other comprehensive income | (739 | ) | 398 | (341 | ) | |||||
Net current period other comprehensive (loss) income | (16,785 | ) | 398 | (16,387 | ) | |||||
Balance at end of period | $ | (725 | ) | $ | (12,409 | ) | $ | (13,134 | ) | |
Amounts Reclassified Out Of Each Component Of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||
Amount Reclassified from | ||||||||||
Details About Accumulated Other | Accumulated Other | Affected Line Item in the | ||||||||
Comprehensive Income Components | Comprehensive Income | Consolidated Statement of Income | ||||||||
Six months ended | ||||||||||
June 30, | ||||||||||
2014 | 2013 | |||||||||
Realized gain on sale of investment securities | $ | 1,262 | $ | 1,224 | Net gain on disposal of investment securities | |||||
Amortization of unrealized holding gains (losses) | ||||||||||
on investment securities transferred from | ||||||||||
available for sale to held to maturity | 259 | - | Interest income | |||||||
1,521 | 1,224 | Total before tax | ||||||||
(602 | ) | (485 | ) | Income tax expense | ||||||
919 | 739 | Net of tax | ||||||||
Amortization of pension and post-retirement items: | ||||||||||
Prior service credit (1) | 24 | 24 | Salaries and employee benefits | |||||||
Net actuarial losses (1) | (88 | ) | (682 | ) | Salaries and employee benefits | |||||
(64 | ) | (658 | ) | Total before tax | ||||||
25 | 260 | Income tax benefit | ||||||||
(39 | ) | (398 | ) | Net of tax | ||||||
Total reclassified for the period | $ | 880 | $ | 341 | ||||||
(1) These items are included in the computation of net periodic pension expense. See Note 9 – Employee Benefit Plans for additional information. | ||||||||||
ShareBased_Compensation_Plans_
Share-Based Compensation Plans (Tables) | 6 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Share-Based Compensation Plans [Abstract] | ' | |||||||||
Summary Of Restricted Stock Award Activity | ' | |||||||||
Weighted | ||||||||||
Average | ||||||||||
Market | ||||||||||
Number of | Price at | |||||||||
Shares | Grant Date | |||||||||
Outstanding at beginning of year | 65,040 | $ | 16.92 | |||||||
Granted | 43,242 | 18.76 | ||||||||
Vested | (33,728 | ) | 18.17 | |||||||
Forfeited | (8,144 | ) | 19.77 | |||||||
Outstanding at end of period | 66,410 | $ | 17.13 | |||||||
Summary Of Stock Option Activity | ' | |||||||||
Weighted | ||||||||||
Weighted | Average | |||||||||
Average | Remaining | Aggregate | ||||||||
Number of | Exercise | Contractual | Intrinsic | |||||||
Options | Price | Term | Value | |||||||
Outstanding at beginning of year | 192,934 | $ | 19.83 | |||||||
Exercised | (7,125 | ) | 18.45 | |||||||
Expired | (23,436 | ) | 23.64 | |||||||
Outstanding and exercisable at end of period | 162,373 | $ | 19.35 | 2.4 | $ | 661 | ||||
Share-Based Compensation Expense Included In Consolidated Statements Of Income | ' | |||||||||
Three months ended | Six months ended | |||||||||
June 30, | June 30, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||
Salaries and employee benefits | $ | 75 | $ | (6 | ) | $ | 156 | $ | 79 | |
Other noninterest expense | 127 | 109 | 149 | 126 | ||||||
Total share-based compensation expense | $ | 202 | $ | 103 | $ | 305 | $ | 205 |
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Employee Benefit Plans [Abstract] | ' | ||||||||||||
Components Of Net Periodic Benefit Expense | ' | ||||||||||||
Three months ended | Six months ended | ||||||||||||
June 30, | June 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Service cost | $ | 480 | $ | 516 | $ | 959 | $ | 1,032 | |||||
Interest cost on projected benefit obligation | 573 | 505 | 1,147 | 1,010 | |||||||||
Expected return on plan assets | (1,030 | ) | (921 | ) | (2,059 | ) | (1,842 | ) | |||||
Amortization of prior service credit | (12 | ) | (12 | ) | (24 | ) | (24 | ) | |||||
Amortization of net actuarial losses | 44 | 341 | 88 | 682 | |||||||||
Net periodic pension expense | $ | 55 | $ | 429 | $ | 111 | $ | 858 |
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Commitments And Contingencies [Abstract] | ' | ||||
Off-Balance Sheet Commitments | ' | ||||
June 30, | December 31, | ||||
2014 | 2013 | ||||
Commitments to extend credit | $ | 444,617 | $ | 431,236 | |
Standby letters of credit | 11,020 | 8,618 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||
Assets Measured At Fair Value On A Recurring And Non-Recurring Basis | ' | |||||||||
Quoted Prices in | ||||||||||
Active Markets | Significant | |||||||||
for Identical | Other | Significant | ||||||||
Assets or | Observable | Unobservable | ||||||||
Liabilities | Inputs | Inputs | ||||||||
(Level 1) | (Level 2) | (Level 3) | Total | |||||||
30-Jun-14 | ||||||||||
Measured on a recurring basis: | ||||||||||
Securities available for sale: | ||||||||||
U.S. Government agencies and government sponsored enterprises | $ | - | $ | 135,117 | $ | - | $ | 135,117 | ||
Mortgage-backed securities | - | 466,555 | - | 466,555 | ||||||
Asset-backed securities | - | 231 | - | 231 | ||||||
$ | - | $ | 601,903 | $ | - | $ | 601,903 | |||
Measured on a nonrecurring basis: | ||||||||||
Loans: | ||||||||||
Loans held for sale | $ | - | $ | 201 | $ | - | $ | 201 | ||
Collateral dependent impaired loans | - | - | 2,075 | 2,075 | ||||||
Other assets: | ||||||||||
Loan servicing rights | - | - | 1,446 | 1,446 | ||||||
Other real estate owned | - | - | 554 | 554 | ||||||
$ | - | $ | 201 | $ | 4,075 | $ | 4,276 | |||
31-Dec-13 | ||||||||||
Measured on a recurring basis: | ||||||||||
Securities available for sale: | ||||||||||
U.S. Government agencies and government sponsored enterprises | $ | - | $ | 134,452 | $ | - | $ | 134,452 | ||
Mortgage-backed securities | - | 474,549 | - | 474,549 | ||||||
Asset-backed securities | - | 399 | - | 399 | ||||||
$ | - | $ | 609,400 | $ | - | $ | 609,400 | |||
Measured on a nonrecurring basis: | ||||||||||
Loans: | ||||||||||
Loans held for sale | $ | - | $ | 3,381 | $ | - | $ | 3,381 | ||
Collateral dependent impaired loans | - | - | 9,227 | 9,227 | ||||||
Other assets: | ||||||||||
Loan servicing rights | - | - | 1,565 | 1,565 | ||||||
Other real estate owned | - | - | 333 | 333 | ||||||
$ | - | $ | 3,381 | $ | 11,125 | $ | 14,506 | |||
Additional Quantitative Information About Assets Measured At Fair Value On A Recurring And Non-Recurring Basis | ' | |||||||||
Fair | Unobservable Input | |||||||||
Asset | Value | Valuation Technique | Unobservable Input | Value or Range | ||||||
Collateral dependent impaired loans | $ | 2,075 | Appraisal of collateral (1) | Appraisal adjustments (2) | 25% - 100% discount | |||||
Discounted cash flow | Discount rate | 4.5% (3) | ||||||||
Risk premium rate | 11.0% (3) | |||||||||
Loan servicing rights | 1,446 | Discounted cash flow | Discount rate | 5.2% (3) | ||||||
Constant prepayment rate | 12.4% (3) | |||||||||
Other real estate owned | 554 | Appraisal of collateral (1) | Appraisal adjustments (2) | 27% - 43% discount | ||||||
(1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. | ||||||||||
(2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. | ||||||||||
(3) Weighted averages. | ||||||||||
Carrying Amount, Estimated Fair Value, And Placement In Fair Value Hierarchy Of Financial Instruments | ' | |||||||||
Level in | 30-Jun-14 | 31-Dec-13 | ||||||||
Fair Value | Estimated | Estimated | ||||||||
Measurement | Carrying | Fair | Carrying | Fair | ||||||
Hierarchy | Amount | Value | Amount | Value | ||||||
Financial assets: | ||||||||||
Cash and cash equivalents | Level 1 | $ | 64,832 | $ | 64,832 | $ | 59,692 | $ | 59,692 | |
Securities available for sale | Level 2 | 601,903 | 601,903 | 609,400 | 609,400 | |||||
Securities held to maturity | Level 2 | 262,057 | 266,640 | 249,785 | 250,657 | |||||
Loans held for sale | Level 2 | 201 | 201 | 3,381 | 3,381 | |||||
Loans | Level 2 | 1,867,423 | 1,881,386 | 1,797,656 | 1,802,407 | |||||
Loans (1) | Level 3 | 2,075 | 2,075 | 9,227 | 9,227 | |||||
Accrued interest receivable | Level 1 | 7,647 | 7,647 | 8,150 | 8,150 | |||||
FHLB and FRB stock | Level 2 | 15,855 | 15,855 | 19,663 | 19,663 | |||||
Financial liabilities: | ||||||||||
Non-maturity deposits | Level 1 | 1,824,906 | 1,824,906 | 1,724,133 | 1,724,133 | |||||
Time deposits | Level 2 | 625,172 | 626,578 | 595,923 | 596,928 | |||||
Short-term borrowings | Level 1 | 254,683 | 254,683 | 337,042 | 337,042 | |||||
Accrued interest payable | Level 1 | 3,658 | 3,658 | 3,407 | 3,407 | |||||
(1) Comprised of collateral dependent impaired loans. | ||||||||||
Earnings_Per_Common_Share_EPS_1
Earnings Per Common Share ("EPS") (Reconciliation Of Earnings And Shares Used In Calculating Basic And Diluted EPS) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Earnings Per Common Share ("EPS") [Abstract] | ' | ' | ' | ' |
Net income available to common shareholders | $6,667 | $6,483 | $13,520 | $12,264 |
Total shares issued | 14,162 | 14,162 | 14,162 | 14,162 |
Unvested restricted stock awards | -67 | -66 | -65 | -73 |
Treasury shares | -304 | -357 | -315 | -361 |
Total basic weighted average common shares outstanding | 13,791 | 13,739 | 13,782 | 13,728 |
Exercise of stock options | 28 | 5 | 25 | 6 |
Vesting of restricted stock awards | 19 | 23 | 24 | 33 |
Total diluted weighted average common shares outstanding | 13,838 | 13,767 | 13,831 | 13,767 |
Basic earnings per common share | $0.48 | $0.47 | $0.98 | $0.89 |
Diluted earnings per common share | $0.48 | $0.47 | $0.98 | $0.89 |
Earnings_Per_Common_Share_EPS_2
Earnings Per Common Share ("EPS") (Shares Excluded from Computation of Diluted EPS) (Details) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive shares excluded from computation of diluted EPS | 3 | 234 | 8 | 193 |
Stock Options [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive shares excluded from computation of diluted EPS | ' | 225 | 7 | 188 |
Restricted Stock Awards [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive shares excluded from computation of diluted EPS | 3 | 9 | 1 | 5 |
Investment_Securities_Narrativ
Investment Securities (Narrative) (Details) (USD $) | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
security | security | ||
Investment Securities [Abstract] | ' | ' | ' |
Securities pledged as collateral | $745,500,000 | ' | $763,100,000 |
Number of security positions, unrealized loss position | 129 | ' | 331 |
Number of security positions, unrealized loss position for more than 12 months | 61 | ' | ' |
Fair value, continuous unrealized loss position for more than 12 months | 236,297,000 | ' | 50,928,000 |
Securities available for sale, 12 months or longer, Unrealized Losses | 7,913,000 | ' | 2,818,000 |
Number of security positions, unrealized loss position for less than 12 months | 68 | ' | ' |
Fair value, continuous unrealized loss position for less than 12 months | 82,471,000 | ' | 335,030,000 |
Unrealized loss, continuous unrealized loss position for less than 12 months | 207,000 | ' | 14,778,000 |
OTTI charge recognized | $0 | $0 | ' |
Investment_Securities_Summary_
Investment Securities (Summary Of Amortized Cost And Fair Value Of Investment Securities) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | $599,763 | $618,166 |
Securities available for sale, Unrealized Gains | 10,260 | 8,830 |
Securities available for sale, Unrealized Losses | 8,120 | 17,596 |
Securities available for sale, Fair Value | 601,903 | 609,400 |
Securities held to maturity, Amortized Cost | 262,057 | 249,785 |
Securities held to maturity, Unrealized Losses | 8,198 | 18,064 |
Securities held to maturity, Fair Value | 266,640 | 250,657 |
U.S. Government Agencies And Government Sponsored Enterprises [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 134,448 | 135,840 |
Securities available for sale, Unrealized Gains | 1,719 | 1,414 |
Securities available for sale, Unrealized Losses | 1,050 | 2,802 |
Securities available for sale, Fair Value | 135,117 | 134,452 |
State And Political Subdivisions [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities held to maturity, Amortized Cost | 262,057 | 249,785 |
Securities held to maturity, Unrealized Gains | 4,661 | 1,340 |
Securities held to maturity, Unrealized Losses | 78 | 468 |
Securities held to maturity, Fair Value | 266,640 | 250,657 |
Mortgage-Backed Securities [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 465,315 | 482,308 |
Securities available for sale, Unrealized Gains | 8,310 | 7,035 |
Securities available for sale, Unrealized Losses | 7,070 | 14,794 |
Securities available for sale, Fair Value | 466,555 | 474,549 |
Mortgage-Backed Securities [Member] | Federal National Mortgage Association [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 172,449 | 173,507 |
Securities available for sale, Unrealized Gains | 1,993 | 1,511 |
Securities available for sale, Unrealized Losses | 2,217 | 4,810 |
Securities available for sale, Fair Value | 172,225 | 170,208 |
Mortgage-Backed Securities [Member] | Federal Home Loan Mortgage Corporation [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 32,922 | 36,737 |
Securities available for sale, Unrealized Gains | 894 | 562 |
Securities available for sale, Unrealized Losses | 10 | 205 |
Securities available for sale, Fair Value | 33,806 | 37,094 |
Mortgage-Backed Securities [Member] | Government National Mortgage Association [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 62,946 | 61,832 |
Securities available for sale, Unrealized Gains | 2,551 | 2,152 |
Securities available for sale, Unrealized Losses | 54 | 142 |
Securities available for sale, Fair Value | 65,443 | 63,842 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 196,998 | 210,232 |
Securities available for sale, Unrealized Gains | 2,872 | 2,810 |
Securities available for sale, Unrealized Losses | 4,789 | 9,637 |
Securities available for sale, Fair Value | 195,081 | 203,405 |
Collateralized Mortgage Obligations [Member] | Federal National Mortgage Association [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 63,224 | 63,838 |
Securities available for sale, Unrealized Gains | 431 | 261 |
Securities available for sale, Unrealized Losses | 1,427 | 3,195 |
Securities available for sale, Fair Value | 62,228 | 60,904 |
Collateralized Mortgage Obligations [Member] | Federal Home Loan Mortgage Corporation [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 96,922 | 102,660 |
Securities available for sale, Unrealized Gains | 215 | 169 |
Securities available for sale, Unrealized Losses | 3,289 | 5,856 |
Securities available for sale, Fair Value | 93,848 | 96,973 |
Collateralized Mortgage Obligations [Member] | Government National Mortgage Association [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | 36,852 | 43,734 |
Securities available for sale, Unrealized Gains | 911 | 913 |
Securities available for sale, Unrealized Losses | 73 | 586 |
Securities available for sale, Fair Value | 37,690 | 44,061 |
Collateralized Mortgage Obligations [Member] | Privately Issued [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Unrealized Gains | 1,315 | 1,467 |
Securities available for sale, Fair Value | 1,315 | 1,467 |
Asset-Backed Securities [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Amortized Cost | ' | 18 |
Securities available for sale, Unrealized Gains | 231 | 381 |
Securities available for sale, Fair Value | $231 | $399 |
Investment_Securities_Schedule
Investment Securities (Scheduled Maturities Of Securities Available For Sale And Securities Held To Maturity) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investment Securities [Abstract] | ' | ' |
Debt securities available for sale, Due in one year or less, Amortized Cost | $25,204 | ' |
Debt securities available for sale, Due from one to five years, Amortized Cost | 83,162 | ' |
Debt securities available for sale, Due after five years through ten years, Amortized Cost | 205,664 | ' |
Debt securities available for sale, Due after ten years, Amortized Cost | 285,733 | ' |
Debt securities available for sale, Amortized Cost | 599,763 | ' |
Debt securities available for sale, Due in one year or less, Fair Value | 25,204 | ' |
Debt securities available for sale, Due from one to five years, Fair Value | 84,857 | ' |
Debt securities available for sale, Due after five years through ten years, Fair Value | 205,297 | ' |
Debt securities available for sale, Due after ten years, Fair Value | 286,545 | ' |
Debt securities available for sale, Fair Value | 601,903 | ' |
Debt securities held to maturity, Due in one year or less, Amortized Cost | 23,466 | ' |
Debt securities held to maturity, Due from one to five years, Amortized Cost | 132,765 | ' |
Debt securities held to maturity, Due after five years through ten years, Amortized Cost | 105,784 | ' |
Debt securities held to maturity, Due after ten years, Amortized Cost | 42 | ' |
Held-to-maturity Securities, Total | 262,057 | 249,785 |
Debt securities held to maturity, Due in one year or less, Fair Value | 23,556 | ' |
Debt securities held to maturity, Due from one to five years, Fair Value | 134,973 | ' |
Debt securities held to maturity, Due after five years through ten years, Fair Value | 108,057 | ' |
Debt securities held to maturity, Due after ten years, Fair Value | 54 | ' |
Securities held to maturity, Fair Value | $266,640 | $250,657 |
Investment_Securities_Sales_An
Investment Securities (Sales And Calls Of Securities Available For Sale) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Investment Securities [Abstract] | ' | ' | ' | ' |
Proceeds from sales and calls | $41,958 | $375 | $61,428 | $1,327 |
Gross realized gains | $949 | $332 | $1,262 | $1,224 |
Investment_Securities_Investme
Investment Securities (Investments' Gross Unrealized Losses And Fair Value) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investment [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | $82,471 | $335,030 |
Securities available for sale, Less than 12 months, Unrealized Losses | 207 | 14,778 |
Securities available for sale, 12 months or longer, Fair Value | 236,297 | 50,928 |
Securities available for sale, 12 months or longer, Unrealized Losses | 7,913 | 2,818 |
Securities available for sale, Fair Value, Total | 318,768 | 385,958 |
Securities available for sale, Unrealized Losses, Total | 8,120 | 17,596 |
Securities held to maturity, Less than 12 months, Fair Value | 95,756 | 407,299 |
Securities held to maturity, Less than 12 months, Unrealized Losses | 285 | 15,246 |
Securities held to maturity, 12 months or longer, Fair Value | 236,297 | 50,928 |
Securities held to maturity, 12 months or longer, Unrealized Losses | 7,913 | 2,818 |
Securities held to maturity, Fair Value, Total | 332,053 | 458,227 |
Securities held to maturity, Unrealized Losses, Total | 8,198 | 18,064 |
U.S. Government Agencies And Government Sponsored Enterprises [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 30,830 | 86,177 |
Securities available for sale, Less than 12 months, Unrealized Losses | 2 | 2,788 |
Securities available for sale, 12 months or longer, Fair Value | 41,159 | 2,717 |
Securities available for sale, 12 months or longer, Unrealized Losses | 1,048 | 14 |
Securities available for sale, Fair Value, Total | 71,989 | 88,894 |
Securities available for sale, Unrealized Losses, Total | 1,050 | 2,802 |
State And Political Subdivisions [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities held to maturity, Less than 12 months, Fair Value | 13,285 | 72,269 |
Securities held to maturity, Less than 12 months, Unrealized Losses | 78 | 468 |
Securities held to maturity, Fair Value, Total | 13,285 | 72,269 |
Securities held to maturity, Unrealized Losses, Total | 78 | 468 |
Mortgage-Backed Securities [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 51,641 | 248,853 |
Securities available for sale, Less than 12 months, Unrealized Losses | 205 | 11,990 |
Securities available for sale, 12 months or longer, Fair Value | 195,138 | 48,211 |
Securities available for sale, 12 months or longer, Unrealized Losses | 6,865 | 2,804 |
Securities available for sale, Fair Value, Total | 246,779 | 297,064 |
Securities available for sale, Unrealized Losses, Total | 7,070 | 14,794 |
Mortgage-Backed Securities [Member] | Federal National Mortgage Association [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 34,572 | 103,778 |
Securities available for sale, Less than 12 months, Unrealized Losses | 107 | 3,491 |
Securities available for sale, 12 months or longer, Fair Value | 64,582 | 20,689 |
Securities available for sale, 12 months or longer, Unrealized Losses | 2,110 | 1,319 |
Securities available for sale, Fair Value, Total | 99,154 | 124,467 |
Securities available for sale, Unrealized Losses, Total | 2,217 | 4,810 |
Mortgage-Backed Securities [Member] | Federal Home Loan Mortgage Corporation [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | ' | 14,166 |
Securities available for sale, Less than 12 months, Unrealized Losses | ' | 205 |
Securities available for sale, 12 months or longer, Fair Value | 3,750 | ' |
Securities available for sale, 12 months or longer, Unrealized Losses | 10 | ' |
Securities available for sale, Fair Value, Total | 3,750 | 14,166 |
Securities available for sale, Unrealized Losses, Total | 10 | 205 |
Mortgage-Backed Securities [Member] | Government National Mortgage Association [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 5,440 | 14,226 |
Securities available for sale, Less than 12 months, Unrealized Losses | 54 | 142 |
Securities available for sale, Fair Value, Total | 5,440 | 14,226 |
Securities available for sale, Unrealized Losses, Total | 54 | 142 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 11,629 | 116,683 |
Securities available for sale, Less than 12 months, Unrealized Losses | 44 | 8,152 |
Securities available for sale, 12 months or longer, Fair Value | 126,806 | 27,522 |
Securities available for sale, 12 months or longer, Unrealized Losses | 4,745 | 1,485 |
Securities available for sale, Fair Value, Total | 138,435 | 144,205 |
Securities available for sale, Unrealized Losses, Total | 4,789 | 9,637 |
Collateralized Mortgage Obligations [Member] | Federal National Mortgage Association [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 9,010 | 35,632 |
Securities available for sale, Less than 12 months, Unrealized Losses | 22 | 2,586 |
Securities available for sale, 12 months or longer, Fair Value | 37,314 | 11,760 |
Securities available for sale, 12 months or longer, Unrealized Losses | 1,405 | 609 |
Securities available for sale, Fair Value, Total | 46,324 | 47,392 |
Securities available for sale, Unrealized Losses, Total | 1,427 | 3,195 |
Collateralized Mortgage Obligations [Member] | Federal Home Loan Mortgage Corporation [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | 2,619 | 72,655 |
Securities available for sale, Less than 12 months, Unrealized Losses | 22 | 4,980 |
Securities available for sale, 12 months or longer, Fair Value | 83,809 | 15,762 |
Securities available for sale, 12 months or longer, Unrealized Losses | 3,267 | 876 |
Securities available for sale, Fair Value, Total | 86,428 | 88,417 |
Securities available for sale, Unrealized Losses, Total | 3,289 | 5,856 |
Collateralized Mortgage Obligations [Member] | Government National Mortgage Association [Member] | ' | ' |
Investment [Line Items] | ' | ' |
Securities available for sale, Less than 12 months, Fair Value | ' | 8,396 |
Securities available for sale, Less than 12 months, Unrealized Losses | ' | 586 |
Securities available for sale, 12 months or longer, Fair Value | 5,683 | ' |
Securities available for sale, 12 months or longer, Unrealized Losses | 73 | ' |
Securities available for sale, Fair Value, Total | 5,683 | 8,396 |
Securities available for sale, Unrealized Losses, Total | $73 | $586 |
Loans_Narrative_Details
Loans (Narrative) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans held for sale | $201 | $3,381 |
Past due greater than 90 days | 6 | 6 |
Other Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Past due greater than 90 days | $6 | $6 |
Loans_Loan_Portfolio_Details
Loans (Loan Portfolio) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, Gross | $1,864,753 | $1,802,105 |
Net Deferred Loan Costs (Fees) | 31,911 | 31,514 |
Loans, Net | 1,896,664 | 1,833,619 |
Allowance for loan losses | -27,166 | -26,736 |
Total loans, net | 1,869,498 | 1,806,883 |
Commercial Business [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, Gross | 277,609 | 265,751 |
Net Deferred Loan Costs (Fees) | 76 | 15 |
Loans, Net | 277,685 | 265,766 |
Commercial Mortgage [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, Gross | 469,936 | 470,312 |
Net Deferred Loan Costs (Fees) | -881 | -1,028 |
Loans, Net | 469,055 | 469,284 |
Residential Mortgage [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, Gross | 106,342 | 113,101 |
Net Deferred Loan Costs (Fees) | -136 | -56 |
Loans, Net | 106,206 | 113,045 |
Home Equity [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, Gross | 363,243 | 320,658 |
Net Deferred Loan Costs (Fees) | 6,335 | 5,428 |
Loans, Net | 369,578 | 326,086 |
Consumer Indirect [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, Gross | 626,418 | 609,390 |
Net Deferred Loan Costs (Fees) | 26,330 | 26,978 |
Loans, Net | 652,748 | 636,368 |
Other Consumer [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Loans, Gross | 21,205 | 22,893 |
Net Deferred Loan Costs (Fees) | 187 | 177 |
Loans, Net | $21,392 | $23,070 |
Loans_Recorded_Investment_By_L
Loans (Recorded Investment By Loan Class In Current And Nonaccrual Loans) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | $4,377 | $4,905 | ' |
60-89 Days Past Due | 376 | 890 | ' |
Greater Than 90 Days | 6 | 6 | ' |
Total Past Due | 4,759 | 5,801 | ' |
Nonaccrual | 8,885 | 16,616 | ' |
Current | 1,851,109 | 1,779,688 | ' |
Total loans | 1,864,753 | 1,802,105 | 1,712,122 |
Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 2,005 | 558 | ' |
60-89 Days Past Due | ' | 199 | ' |
Total Past Due | 2,005 | 757 | ' |
Nonaccrual | 3,589 | 3,474 | ' |
Current | 272,015 | 261,520 | ' |
Total loans | 277,609 | 265,751 | 257,784 |
Commercial Mortgage [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | ' | 800 | ' |
Total Past Due | ' | 800 | ' |
Nonaccrual | 2,734 | 9,663 | ' |
Current | 467,202 | 459,849 | ' |
Total loans | 469,936 | 470,312 | 438,513 |
Residential Mortgage [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 408 | 542 | ' |
Total Past Due | 408 | 542 | ' |
Nonaccrual | 758 | 1,078 | ' |
Current | 105,176 | 111,481 | ' |
Total loans | 106,342 | 113,101 | 117,939 |
Home Equity [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 235 | 750 | ' |
60-89 Days Past Due | 32 | 143 | ' |
Total Past Due | 267 | 893 | ' |
Nonaccrual | 371 | 925 | ' |
Current | 362,605 | 318,840 | ' |
Total loans | 363,243 | 320,658 | 301,429 |
Consumer Indirect [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 1,590 | 2,129 | ' |
60-89 Days Past Due | 324 | 476 | ' |
Total Past Due | 1,914 | 2,605 | ' |
Nonaccrual | 1,427 | 1,471 | ' |
Current | 623,077 | 605,314 | ' |
Total loans | 626,418 | 609,390 | 572,350 |
Other Consumer [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days Past Due | 139 | 126 | ' |
60-89 Days Past Due | 20 | 72 | ' |
Greater Than 90 Days | 6 | 6 | ' |
Total Past Due | 165 | 204 | ' |
Nonaccrual | 6 | 5 | ' |
Current | 21,034 | 22,684 | ' |
Total loans | $21,205 | $22,893 | $24,107 |
Loans_Information_Related_To_L
Loans (Information Related To Loans Modified In A TDR) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
contract | contract | contract | contract | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 1 | 1 | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | $1,381 | $1,273 | $1,381 | $1,462 |
Post-Modification Outstanding Recorded Investment | 1,381 | 1,273 | 1,381 | 1,453 |
Commercial Business [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | 1 | 1 | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | 1,381 | 1,273 | 1,381 | 1,462 |
Post-Modification Outstanding Recorded Investment | 1,381 | 1,273 | 1,381 | 1,453 |
Commercial Mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of Contracts | ' | ' | ' | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' | ' | ' |
Post-Modification Outstanding Recorded Investment | ' | ' | ' | ' |
Loans_Summary_Of_Impaired_Loan
Loans (Summary Of Impaired Loans) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2014 | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Recorded Investment, With no related allowance recorded | $2,652 | [1] | $2,760 | [1] |
Recorded Investment, With an allowance recorded | 10,485 | [1] | 3,563 | [1] |
Recorded Investment | 13,137 | [1] | 6,323 | [1] |
Unpaid Principal Balance, With no related allowance recorded | 3,179 | [1] | 3,319 | [1] |
Unpaid Principal Balance, With an allowance recorded | 10,905 | [1] | 3,574 | [1] |
Unpaid Principal Balance | 14,084 | [1] | 6,893 | [1] |
Related Allowance | 1,258 | 1,488 | ||
Average Recorded Investment, With no related allowance recorded | 1,419 | 2,916 | ||
Average Recorded Investment, With an allowance recorded | 6,954 | 8,570 | ||
Average Recorded Investment | 8,373 | 11,486 | ||
Interest Income Recognized, With no related allowance recorded | ' | ' | ||
Interest Income Recognized, With an allowance recorded | ' | ' | ||
Interest Income Recognized | ' | ' | ||
Commercial Business [Member] | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Recorded Investment, With no related allowance recorded | 1,777 | [1] | 1,618 | [1] |
Recorded Investment, With an allowance recorded | 1,697 | [1] | 1,971 | [1] |
Unpaid Principal Balance, With no related allowance recorded | 2,273 | [1] | 2,146 | [1] |
Unpaid Principal Balance, With an allowance recorded | 1,717 | [1] | 1,982 | [1] |
Related Allowance | 201 | 1,056 | ||
Average Recorded Investment, With no related allowance recorded | 659 | 1,823 | ||
Average Recorded Investment, With an allowance recorded | 3,196 | 1,837 | ||
Interest Income Recognized, With no related allowance recorded | ' | ' | ||
Interest Income Recognized, With an allowance recorded | ' | ' | ||
Commercial Mortgage [Member] | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Recorded Investment, With no related allowance recorded | 875 | [1] | 1,142 | [1] |
Recorded Investment, With an allowance recorded | 8,788 | [1] | 1,592 | [1] |
Unpaid Principal Balance, With no related allowance recorded | 906 | [1] | 1,173 | [1] |
Unpaid Principal Balance, With an allowance recorded | 9,188 | [1] | 1,592 | [1] |
Related Allowance | 1,057 | 432 | ||
Average Recorded Investment, With no related allowance recorded | 760 | 1,093 | ||
Average Recorded Investment, With an allowance recorded | 3,758 | 6,733 | ||
Interest Income Recognized, With no related allowance recorded | ' | ' | ||
Interest Income Recognized, With an allowance recorded | ' | ' | ||
[1] | Difference between recorded investment and unpaid principal balance represents partial charge-offs. |
Loans_Commercial_Loan_Portfoli
Loans (Commercial Loan Portfolio Categorized By Internally Assigned Asset Classification) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | $1,864,753 | $1,802,105 |
Commercial Business [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 277,609 | 265,751 |
Commercial Business [Member] | Uncriticized [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 260,164 | 250,553 |
Commercial Business [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 7,708 | 6,311 |
Commercial Business [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 9,737 | 8,887 |
Commercial Business [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | ' | ' |
Commercial Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 469,936 | 470,312 |
Commercial Mortgage [Member] | Uncriticized [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 453,747 | 449,447 |
Commercial Mortgage [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 6,136 | 6,895 |
Commercial Mortgage [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 10,053 | 13,970 |
Commercial Mortgage [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | ' | ' |
Loans_Retail_Loan_Portfolio_Ca
Loans (Retail Loan Portfolio Categorized By Payment Status) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | $1,864,753 | $1,802,105 |
Residential Mortgage [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 106,342 | 113,101 |
Residential Mortgage [Member] | Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 105,584 | 112,023 |
Residential Mortgage [Member] | Non-Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 758 | 1,078 |
Home Equity [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 363,243 | 320,658 |
Home Equity [Member] | Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 362,872 | 319,733 |
Home Equity [Member] | Non-Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 371 | 925 |
Consumer Indirect [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 626,418 | 609,390 |
Consumer Indirect [Member] | Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 624,991 | 607,919 |
Consumer Indirect [Member] | Non-Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 1,427 | 1,471 |
Other Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 21,205 | 22,893 |
Other Consumer [Member] | Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | 21,193 | 22,882 |
Other Consumer [Member] | Non-Performing [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Loans | $12 | $11 |
Loans_Changes_In_The_Allowance
Loans (Changes In The Allowance For Loan Losses) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans, Ending balance | $1,864,753 | $1,712,122 | $1,864,753 | $1,712,122 | $1,802,105 |
Loans, Individually Evaluated for impairment | 6,323 | 8,116 | 6,323 | 8,116 | ' |
Loans, Collectively Evaluated for impairment | 1,858,430 | 1,704,006 | 1,858,430 | 1,704,006 | ' |
Ending balance | 27,166 | 25,590 | 27,166 | 25,590 | ' |
Allowance for loan losses, Individually Evaluated for impairment | 1,488 | 1,510 | 1,488 | 1,510 | ' |
Allowance for loan losses, Collectively Evaluated for impairment | 25,678 | 24,080 | 25,678 | 24,080 | ' |
Commercial Business [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 4,689 | 5,167 | 4,273 | 4,884 | ' |
Charge-offs | 3 | 292 | 71 | 531 | ' |
Recoveries | 68 | 205 | 97 | 242 | ' |
Provision (credit) | 648 | -325 | 1,103 | 160 | ' |
Loans, Ending balance | 277,609 | 257,784 | 277,609 | 257,784 | 265,751 |
Loans, Individually Evaluated for impairment | 3,589 | 5,043 | 3,589 | 5,043 | ' |
Loans, Collectively Evaluated for impairment | 274,020 | 252,741 | 274,020 | 252,741 | ' |
Ending balance | 5,402 | 4,755 | 5,402 | 4,755 | ' |
Allowance for loan losses, Individually Evaluated for impairment | 1,056 | 956 | 1,056 | 956 | ' |
Allowance for loan losses, Collectively Evaluated for impairment | 4,346 | 3,799 | 4,346 | 3,799 | ' |
Commercial Mortgage [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 7,980 | 6,971 | 7,743 | 6,581 | ' |
Charge-offs | 165 | 106 | 165 | 109 | ' |
Recoveries | 6 | 143 | 13 | 157 | ' |
Provision (credit) | -188 | 117 | 42 | 496 | ' |
Loans, Ending balance | 469,936 | 438,513 | 469,936 | 438,513 | 470,312 |
Loans, Individually Evaluated for impairment | 2,734 | 3,073 | 2,734 | 3,073 | ' |
Loans, Collectively Evaluated for impairment | 467,202 | 435,440 | 467,202 | 435,440 | ' |
Ending balance | 7,633 | 7,125 | 7,633 | 7,125 | ' |
Allowance for loan losses, Individually Evaluated for impairment | 432 | 554 | 432 | 554 | ' |
Allowance for loan losses, Collectively Evaluated for impairment | 7,201 | 6,571 | 7,201 | 6,571 | ' |
Residential Mortgage [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 672 | 668 | 676 | 740 | ' |
Charge-offs | 69 | 85 | 147 | 247 | ' |
Recoveries | 8 | 13 | 29 | 30 | ' |
Provision (credit) | 7 | 105 | 60 | 178 | ' |
Loans, Ending balance | 106,342 | 117,939 | 106,342 | 117,939 | 113,101 |
Loans, Collectively Evaluated for impairment | 106,342 | 117,939 | 106,342 | 117,939 | ' |
Ending balance | 618 | 701 | 618 | 701 | ' |
Allowance for loan losses, Collectively Evaluated for impairment | 618 | 701 | 618 | 701 | ' |
Home Equity [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 1,371 | 1,283 | 1,367 | 1,282 | ' |
Charge-offs | 156 | 53 | 262 | 322 | ' |
Recoveries | 29 | 73 | 40 | 110 | ' |
Provision (credit) | 363 | 121 | 462 | 354 | ' |
Loans, Ending balance | 363,243 | 301,429 | 363,243 | 301,429 | 320,658 |
Loans, Collectively Evaluated for impairment | 363,243 | 301,429 | 363,243 | 301,429 | ' |
Ending balance | 1,607 | 1,424 | 1,607 | 1,424 | ' |
Allowance for loan losses, Collectively Evaluated for impairment | 1,607 | 1,424 | 1,607 | 1,424 | ' |
Consumer Indirect [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 11,984 | 11,312 | 12,230 | 10,715 | ' |
Charge-offs | 2,331 | 1,929 | 4,786 | 3,647 | ' |
Recoveries | 995 | 759 | 2,100 | 1,564 | ' |
Provision (credit) | 798 | 953 | 1,902 | 2,463 | ' |
Loans, Ending balance | 626,418 | 572,350 | 626,418 | 572,350 | 609,390 |
Loans, Collectively Evaluated for impairment | 626,418 | 572,350 | 626,418 | 572,350 | ' |
Ending balance | 11,446 | 11,095 | 11,446 | 11,095 | ' |
Allowance for loan losses, Collectively Evaluated for impairment | 11,446 | 11,095 | 11,446 | 11,095 | ' |
Other Consumer [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 456 | 426 | 447 | 512 | ' |
Charge-offs | 224 | 229 | 493 | 481 | ' |
Recoveries | 98 | 71 | 211 | 208 | ' |
Provision (credit) | 130 | 222 | 295 | 251 | ' |
Loans, Ending balance | 21,205 | 24,107 | 21,205 | 24,107 | 22,893 |
Loans, Collectively Evaluated for impairment | 21,205 | 24,107 | 21,205 | 24,107 | ' |
Ending balance | 460 | 490 | 460 | 490 | ' |
Allowance for loan losses, Collectively Evaluated for impairment | $460 | $490 | $460 | $490 | ' |
Goodwill_And_Other_Intangible_2
Goodwill And Other Intangible Assets (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Goodwill And Other Intangible Assets [Abstract] | ' | ' | ' | ' | ' |
Goodwill | $48,500,000 | ' | $48,500,000 | ' | $48,500,000 |
Core deposits intangible amortization expense | $87,000 | $98,000 | $176,000 | $199,000 | ' |
Goodwill_And_Other_Intangible_3
Goodwill And Other Intangible Assets (Other Intangible Assets) (Details) (Core Deposits [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Core Deposits [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | $2,042 | $2,042 |
Accumulated amortization | -752 | -576 |
Net carrying value | $1,290 | $1,466 |
Goodwill_And_Other_Intangible_4
Goodwill And Other Intangible Assets (Estimated Core Deposit Intangible Amortization Expense) (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Goodwill And Other Intangible Assets [Abstract] | ' |
2014 (remainder of year) | $165 |
2015 | 296 |
2016 | 251 |
2017 | 205 |
2018 | 160 |
2019 | $115 |
Shareholders_Equity_Details
Shareholders' Equity (Details) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Shareholders Equity [Line Items] | ' | ' |
Treasury stock, beginning balance | 332,242 | ' |
Shares issued, beginning balance | 14,161,597 | ' |
Stock options exercised | 7,125 | ' |
Treasury stock, ending balance | 299,121 | ' |
Shares issued, ending balance | 14,161,597 | ' |
Common Stock [Member] | ' | ' |
Shareholders Equity [Line Items] | ' | ' |
Shares outstanding, beginning balance | 13,829,355 | 13,787,709 |
Restricted stock awards issued | 43,242 | 42,035 |
Restricted stock awards forfeited | -8,144 | -18,977 |
Stock options exercised | 7,125 | 3,300 |
Treasury stock purchases | -9,102 | -11,349 |
Directors' retainer | ' | 5,672 |
Shares outstanding, ending balance | 13,862,476 | 13,808,390 |
Treasury Stock [Member] | ' | ' |
Shareholders Equity [Line Items] | ' | ' |
Treasury stock, beginning balance | 332,242 | 373,888 |
Restricted stock awards issued | -43,242 | -42,035 |
Restricted stock awards forfeited | 8,144 | 18,977 |
Stock options exercised | -7,125 | -3,300 |
Treasury stock purchases | 9,102 | 11,349 |
Directors' retainer | ' | -5,672 |
Treasury stock, ending balance | 299,121 | 353,207 |
Issued [Member] | ' | ' |
Shareholders Equity [Line Items] | ' | ' |
Shares issued, beginning balance | 14,161,597 | 14,161,597 |
Restricted stock awards issued | ' | ' |
Restricted stock awards forfeited | ' | ' |
Stock options exercised | ' | ' |
Treasury stock purchases | ' | ' |
Directors' retainer | ' | ' |
Shares issued, ending balance | 14,161,597 | 14,161,597 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Components Of Other Comprehensive Income (Loss)) (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' | |
Change in unrealized gain/loss during the period, Pre-tax Amount | ' | ' | $12,168 | ($26,571) | |
Reclassification adjustment for net gains included in net income, Pre-tax Amount | ' | ' | -1,521 | [1] | -1,224 |
Total securities available for sale and transferred securities, Pre-tax Amount | ' | ' | 10,647 | -27,795 | |
Prior service credit, Pre-tax Amount | ' | ' | -24 | -24 | |
Net actuarial losses, Pre-tax Amount | ' | ' | 88 | 682 | |
Total pension and post-retirement obligations, Pre-tax Amount | ' | ' | 64 | 658 | |
Other comprehensive income (loss), Pre-tax Amount | ' | ' | 10,711 | -27,137 | |
Change in unrealized gain/loss during the period, Tax Effect | ' | ' | 4,821 | -10,525 | |
Reclassification adjustment for net gains included in net income, Tax Effect | ' | ' | -602 | [1] | -485 |
Total securities available for sale and transferred securities, Tax Effect | ' | ' | 4,219 | -11,010 | |
Prior service credit, Tax Effect | ' | ' | -9 | -9 | |
Net actuarial losses, Tax Effect | ' | ' | 34 | 269 | |
Total pension and post-retirement obligations, Tax Effect | ' | ' | 25 | 260 | |
Other comprehensive income (loss), Tax Effect | ' | ' | 4,244 | -10,750 | |
Change in unrealized gain/loss during the period, Net-of-tax Amount | ' | ' | 7,347 | -16,046 | |
Reclassification adjustment for net gains included in net income, Net-of-tax Amount | ' | ' | -919 | [1] | -739 |
Total securities available for sale and transferred securities, Net-of-tax Amount | 2,684 | -14,470 | 6,428 | -16,785 | |
Prrior service credit, Net-of-tax Amount | ' | ' | -15 | -15 | |
Net actuarial losses, Net-of-tax Amount | ' | ' | 54 | 413 | |
Total pension and post-retirement obligations, Net-of-tax Amount | 20 | 199 | 39 | 398 | |
Other comprehensive income (loss), Net-of-tax Amount | ' | ' | $6,467 | ($16,387) | |
[1] | Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company's reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield. |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) (Components Of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | ($10,187) | $3,253 |
Other comprehensive (loss) income before reclassifications | ' | ' | 7,347 | -16,046 |
Amounts reclassified from accumulated other comprehensive income | ' | ' | -880 | -341 |
Net current period other comprehensive (loss) income | 2,704 | -14,271 | 6,467 | -16,387 |
Balance at end of period | -3,720 | -13,134 | -3,720 | -13,134 |
Securities Available For Sale and Transferred Securities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | -5,337 | 16,060 |
Other comprehensive (loss) income before reclassifications | ' | ' | 7,347 | -16,046 |
Amounts reclassified from accumulated other comprehensive income | ' | ' | -919 | -739 |
Net current period other comprehensive (loss) income | ' | ' | 6,428 | -16,785 |
Balance at end of period | 1,091 | -725 | 1,091 | -725 |
Pension And Post-Retirement Items [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | -4,850 | -12,807 |
Amounts reclassified from accumulated other comprehensive income | ' | ' | 39 | 398 |
Net current period other comprehensive (loss) income | ' | ' | 39 | 398 |
Balance at end of period | ($4,811) | ($12,409) | ($4,811) | ($12,409) |
Accumulated_Other_Comprehensiv4
Accumulated Other Comprehensive Income (Loss) (Amounts Reclassified Out Of Each Component Of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ||
Net gain on disposal of investment securities | $949 | $332 | $1,262 | $1,224 | ||
Interest income | 23,103 | 22,524 | 46,378 | 45,411 | ||
Total before tax | ' | ' | -1,521 | [1] | -1,224 | |
Income tax expense | ' | ' | 602 | [1] | 485 | |
Net of tax | ' | ' | -919 | [1] | -739 | |
Prior service credit | ' | ' | -24 | -24 | ||
Net actuarial losses | ' | ' | 88 | 682 | ||
Total before tax | ' | ' | 64 | 658 | ||
Income tax benefit | ' | ' | -25 | -260 | ||
Total pension and post-retirement obligations, Net-of-tax Amount | 20 | 199 | 39 | 398 | ||
Net income available to common shareholders | 6,667 | 6,483 | 13,520 | 12,264 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ||
Net income available to common shareholders | ' | ' | 880 | 341 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Realized Gain on Sale of Investment Securities [Member] | ' | ' | ' | ' | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ||
Net gain on disposal of investment securities | ' | ' | 1,262 | 1,224 | ||
Interest income | ' | ' | 259 | ' | ||
Total before tax | ' | ' | 1,521 | 1,224 | ||
Income tax expense | ' | ' | -602 | -485 | ||
Net of tax | ' | ' | 919 | 739 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension And Post-Retirement Items [Member] | ' | ' | ' | ' | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ||
Prior service credit | ' | ' | 24 | [2] | 24 | [2] |
Net actuarial losses | ' | ' | -88 | [2] | -682 | [2] |
Total before tax | ' | ' | -64 | -658 | ||
Income tax benefit | ' | ' | 25 | 260 | ||
Total pension and post-retirement obligations, Net-of-tax Amount | ' | ' | ($39) | ($398) | ||
[1] | Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company's reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield. | |||||
[2] | These items are included in the computation of net periodic pension expense. See Note 9 - Employee Benefit Plans for additional information. |
ShareBased_Compensation_Plans_1
Share-Based Compensation Plans (Narrative) (Details) (USD $) | 6 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Unrecognized compensation expense | $730 | ' |
Expected recognition expense period, weighted average period in years | '2 years 4 months 24 days | ' |
Aggregate intrinsic value | 32 | 7 |
Total cash received as a result of option exercises | $132 | $59 |
TSR Performance Requirement [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected term | '2 years 10 months 13 days | ' |
Risk free interest rate | 0.62% | ' |
Expected dividend yield | 3.59% | ' |
Expected stock price volatility | 39.40% | ' |
Restricted Stock Awards [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Restricted shares of common stock awarded | 43,242 | ' |
Weighted average market price of restricted stock on the date of grant | $18.76 | ' |
Restricted Stock Awards [Member] | EPS Performance Requirement [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
EPS percentage of award, one year performance period | 50.00% | ' |
Restricted Stock Awards [Member] | TSR Performance Requirement [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Award vesting period | '3 years | ' |
TSR percentage of award, three year performance period | 50.00% | ' |
Management Stock Incentive Plan [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Restricted shares of common stock awarded | 22,642 | ' |
Management Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Restricted shares of common stock awarded | 11,600 | ' |
Weighted average market price of restricted stock on the date of grant | $21.26 | ' |
Award vesting period | '1 year | ' |
Director Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Restricted shares of common stock awarded | 9,000 | ' |
Weighted average market price of restricted stock on the date of grant | $22.82 | ' |
Director Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | Vested Immediately [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Restricted shares of common stock awarded | 4,500 | ' |
Director Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | Vested After Completion of One-Year Service Requirement [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Restricted shares of common stock awarded | 4,500 | ' |
Minimum [Member] | Restricted Stock Awards [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Award vesting period | '2 years | ' |
ShareBased_Compensation_Plans_2
Share-Based Compensation Plans (Summary Of Restricted Stock Award Activity) (Details) (Restricted Stock Awards [Member], USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Restricted Stock Awards [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding at beginning of year, Number of Shares | 65,040 |
Granted, Number of Shares | 43,242 |
Vested, Number of Shares | -33,728 |
Forfeited, number of shares | -8,144 |
Outstanding at end of period, Number of Shares | 66,410 |
Outstanding at beginning of year, Weighted Average Market Price at Grant Date | $16.92 |
Granted, Weighted Average Market Price at Grant Date | $18.76 |
Vested, Weighted Average Market Price at Grant Date | $18.17 |
Forfeited, Weighted Average Market Price at Grant Date | $19.77 |
Outstanding at end of period, Weighted Average Market Price at Grant Date | $17.13 |
ShareBased_Compensation_Plans_3
Share-Based Compensation Plans (Summary Of Stock Option Activity) (Details) (USD $) | 6 Months Ended |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 |
Share-Based Compensation Plans [Abstract] | ' |
Outstanding at beginning of year, Number of Options | 192,934 |
Exercised, Number of Options | -7,125 |
Expired, Number of Options | -23,436 |
Outstanding and exercisable at end of period, Number of Options | 162,373 |
Outstanding at beginning of year, Weighted Average Exercise Price | $19.83 |
Exercised, Weighted Average Exercise Price | $18.45 |
Expired, Weighted Average Exercise Price | $23.64 |
Outstanding and exercisable at end of period, Weighted Average Exercise Price | $19.35 |
Outstanding and exercisable at end of period, Weighted Average Remaining Contractual Term | '2 years 4 months 24 days |
Outstanding and exercisable at end of period, Aggregate Intrinsic Value | $661 |
ShareBased_Compensation_Plans_4
Share-Based Compensation Plans (Share-Based Compensation Expense Included In Consolidated Statements Of Income) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total share-based compensation expense | $202 | $103 | $305 | $205 |
Salaries and Employee Benefits [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total share-based compensation expense | 75 | -6 | 156 | 79 |
Other Noninterest Expense [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Total share-based compensation expense | $127 | $109 | $149 | $126 |
Employee_Benefit_Plans_Details
Employee Benefit Plans (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Employee Benefit Plans [Abstract] | ' | ' | ' | ' |
Service cost | $480 | $516 | $959 | $1,032 |
Interest cost on projected benefit obligation | 573 | 505 | 1,147 | 1,010 |
Expected return on plan assets | -1,030 | -921 | -2,059 | -1,842 |
Amortization of prior service credit | -12 | -12 | -24 | -24 |
Amortization of net actuarial losses | 44 | 341 | 88 | 682 |
Net periodic pension expense | $55 | $429 | $111 | $858 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
Commitments And Contingencies [Abstract] | ' | ' |
Forward sales commitments | $393,000 | $0 |
Commitments_And_Contingencies_2
Commitments And Contingencies (Off-Balance Sheet Commitments) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commitments To Extend Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Off-balance sheet commitments | $444,617 | $431,236 |
Standby Letters Of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Off-balance sheet commitments | $11,020 | $8,618 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
Fair Value Measurements [Abstract] | ' | ' |
Level 1 to Level 2 transfers, assets amount | $0 | $0 |
Level 2 to Level 1 transfers, assets amount | 0 | 0 |
Level 1 to Level 2 transfers, liabilities amount | 0 | 0 |
Level 2 to Level 1 transfers, liabilities amount | 0 | 0 |
Liabilities measured at fair value on recurring basis | 0 | 0 |
Liabilities measured at fair value on nonrecurring basis | 0 | 0 |
Assets measured at fair value on recurring basis using significant unobservable inputs | $0 | ' |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets Measured At Fair Value On A Recurring And Non-Recurring Basis) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | $601,903 | $609,400 | |
Collateral Dependent Impaired Loans [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 2,075 | [1] | ' |
Loan Servicing Rights [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 1,446 | ' | |
Other Real Estate Owned [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 554 | [1] | ' |
Measured On A Recurring Basis [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | 601,903 | 609,400 | |
Measured On A Recurring Basis [Member] | U.S. Government Agencies And Government Sponsored Enterprises [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | 135,117 | 134,452 | |
Measured On A Recurring Basis [Member] | Mortgage-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | 466,555 | 474,549 | |
Measured On A Recurring Basis [Member] | Asset-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | 231 | 399 | |
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | ' | ' | |
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | U.S. Government Agencies And Government Sponsored Enterprises [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | ' | ' | |
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | Mortgage-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | ' | ' | |
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | Asset-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | ' | ' | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | 601,903 | 609,400 | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | U.S. Government Agencies And Government Sponsored Enterprises [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | 135,117 | 134,452 | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | Mortgage-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | 466,555 | 474,549 | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | Asset-Backed Securities [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Securities available for sale | 231 | 399 | |
Measured On A Nonrecurring Basis [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 4,276 | 14,506 | |
Measured On A Nonrecurring Basis [Member] | Loans Held For Sale [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 201 | 3,381 | |
Measured On A Nonrecurring Basis [Member] | Collateral Dependent Impaired Loans [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 2,075 | 9,227 | |
Measured On A Nonrecurring Basis [Member] | Loan Servicing Rights [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 1,446 | 1,565 | |
Measured On A Nonrecurring Basis [Member] | Other Real Estate Owned [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 554 | 333 | |
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Loans Held For Sale [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Collateral Dependent Impaired Loans [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Loan Servicing Rights [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Other Real Estate Owned [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | ' | ' | |
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 201 | 3,381 | |
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | Loans Held For Sale [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 201 | 3,381 | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 4,075 | 11,125 | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | Collateral Dependent Impaired Loans [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 2,075 | 9,227 | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | Loan Servicing Rights [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | 1,446 | 1,565 | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | Other Real Estate Owned [Member] | ' | ' | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | |
Assets at fair value | $554 | $333 | |
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. |
Fair_Value_Measurements_Additi
Fair Value Measurements (Additional Quantitative Information About Assets Measured At Fair Value On A Recurring And Non-Recurring Basis) (Details) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | |
Collateral Dependent Impaired Loans [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Assets at fair value | $2,075 | [1] |
Discount rate | 4.50% | [2] |
Risk premium rate | 11.00% | [2] |
Loan Servicing Rights [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Assets at fair value | 1,446 | |
Discount rate | 5.20% | [2] |
Constant prepayment rate | 12.40% | [2] |
Other Real Estate Owned [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Assets at fair value | $554 | [1] |
Minimum [Member] | Collateral Dependent Impaired Loans [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Appraisal adjustments | 25.00% | [3] |
Minimum [Member] | Other Real Estate Owned [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Appraisal adjustments | 27.00% | [3] |
Maximum [Member] | Collateral Dependent Impaired Loans [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Appraisal adjustments | 100.00% | [3] |
Maximum [Member] | Other Real Estate Owned [Member] | ' | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | |
Appraisal adjustments | 43.00% | [3] |
[1] | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. | |
[2] | Weighted averages. | |
[3] | Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. |
Fair_Value_Measurements_Carryi
Fair Value Measurements (Carrying Amount, Estimated Fair Value, And Placement In Fair Value Hierarchy Of Financial Instruments) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities available for sale | $601,903 | $609,400 | ||
Securities held to maturity, fair value | 266,640 | 250,657 | ||
Carrying Amount [Member] | Level 1 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and cash equivalents | 64,832 | 59,692 | ||
Accrued interest receivable | 7,647 | 8,150 | ||
Non-maturity deposits | 1,824,906 | 1,724,133 | ||
Short-term borrowings | 254,683 | 337,042 | ||
Accrued interest payable | 3,658 | 3,407 | ||
Carrying Amount [Member] | Level 2 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities available for sale | 601,903 | 609,400 | ||
Securities held to maturity, fair value | 262,057 | 249,785 | ||
Loans held for sale | 201 | 3,381 | ||
Loans | 1,867,423 | 1,797,656 | ||
FHLB and FRB stock | 15,855 | 19,663 | ||
Time deposits | 625,172 | 595,923 | ||
Carrying Amount [Member] | Level 3 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Loans | 2,075 | [1] | 9,227 | [1] |
Estimated Fair Value [Member] | Level 1 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and cash equivalents | 64,832 | 59,692 | ||
Accrued interest receivable | 7,647 | 8,150 | ||
Non-maturity deposits | 1,824,906 | 1,724,133 | ||
Short-term borrowings | 254,683 | 337,042 | ||
Accrued interest payable | 3,658 | 3,407 | ||
Estimated Fair Value [Member] | Level 2 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Securities available for sale | 601,903 | 609,400 | ||
Securities held to maturity, fair value | 266,640 | 250,657 | ||
Loans held for sale | 201 | 3,381 | ||
Loans | 1,881,386 | 1,802,407 | ||
FHLB and FRB stock | 15,855 | 19,663 | ||
Time deposits | 626,578 | 596,928 | ||
Estimated Fair Value [Member] | Level 3 Inputs [Member] | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Loans | $2,075 | [1] | $9,227 | [1] |
[1] | Comprised of collateral dependent impaired loans. |