Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 1-May-15 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | CSBB | |
Entity Registrant Name | CSB BANCORP INC /OH | |
Entity Central Index Key | 880417 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 2,739,405 |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents | ||
Cash and due from banks | $14,253 | $15,310 |
Interest-earning deposits in other banks | 21,260 | 28,613 |
Federal funds sold | 119 | |
Total cash and cash equivalents | 35,632 | 43,923 |
Securities | ||
Available-for-sale, at fair value | 106,575 | 100,108 |
Held-to-maturity; fair value of $35,558 in 2015 and $38,950 in 2014 | 34,446 | 38,316 |
Restricted stock, at cost | 4,614 | 4,614 |
Total securities | 145,635 | 143,038 |
Loans held for sale | 299 | 75 |
Loans | 420,861 | 410,903 |
Less allowance for loan losses | 4,494 | 4,381 |
Net loans | 416,367 | 406,522 |
Premises and equipment, net | 8,248 | 8,286 |
Core deposit intangible | 598 | 629 |
Goodwill | 4,728 | 4,728 |
Bank-owned life insurance | 9,881 | 9,815 |
Accrued interest receivable and other assets | 3,700 | 3,965 |
TOTAL ASSETS | 625,088 | 620,981 |
Deposits | ||
Noninterest-bearing | 137,941 | 139,251 |
Interest-bearing | 359,392 | 360,824 |
Total deposits | 497,333 | 500,075 |
Short-term borrowings | 52,133 | 46,627 |
Other borrowings | 14,788 | 14,953 |
Accrued interest payable and other liabilities | 2,043 | 1,876 |
Total liabilities | 566,297 | 563,531 |
SHAREHOLDERS' EQUITY | ||
Common stock, $6.25 par value. Authorized 9,000,000 shares; issued 2,980,602 shares; outstanding 2,739,405 shares in 2015 and 2014 | 18,629 | 18,629 |
Additional paid-in capital | 9,884 | 9,884 |
Retained earnings | 34,911 | 34,090 |
Treasury stock at cost - 241,197 shares in 2015 and 2014 | -4,871 | -4,871 |
Accumulated other comprehensive income (loss) | 238 | -282 |
Total shareholders' equity | 58,791 | 57,450 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $625,088 | $620,981 |
Consolidated_Balance_Sheets_Un1
Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Held-to-maturity, fair value | $35,558 | $38,950 |
Common stock, par value | $6.25 | $6.25 |
Common stock, authorized shares | 9,000,000 | 9,000,000 |
Common stock, shares issued | 2,980,602 | 2,980,602 |
Common stock, shares outstanding | 2,739,405 | 2,739,405 |
Treasury stock, at cost | 241,197 | 241,197 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
INTEREST AND DIVIDEND INCOME | ||
Loans, including fees | $4,573 | $4,429 |
Taxable securities | 688 | 786 |
Nontaxable securities | 130 | 115 |
Other | 16 | 6 |
Total interest and dividend income | 5,407 | 5,336 |
INTEREST EXPENSE | ||
Deposits | 271 | 304 |
Short-term borrowings | 17 | 19 |
Other borrowings | 105 | 115 |
Total interest expense | 393 | 438 |
NET INTEREST INCOME | 5,014 | 4,898 |
PROVISION FOR LOAN LOSSES | 194 | 185 |
Net interest income, after provision for loan losses | 4,820 | 4,713 |
NONINTEREST INCOME | ||
Service charges on deposit accounts | 286 | 297 |
Trust services | 202 | 216 |
Debit card interchange fees | 227 | 198 |
Securities gains | 35 | 0 |
Gain on sale of loans, net | 70 | 24 |
Other income | 234 | 218 |
Total noninterest income | 1,054 | 953 |
NONINTEREST EXPENSES | ||
Salaries and employee benefits | 2,150 | 2,019 |
Occupancy expense | 267 | 266 |
Equipment expense | 166 | 181 |
Professional and director fees | 290 | 182 |
Franchise tax expense | 100 | 107 |
Marketing and public relations | 76 | 108 |
Software expense | 189 | 162 |
Debit card expense | 99 | 81 |
Amortization of intangible assets | 32 | 32 |
FDIC insurance expense | 92 | 86 |
Other expenses | 487 | 453 |
Total noninterest expenses | 3,948 | 3,677 |
Income before income taxes | 1,926 | 1,989 |
FEDERAL INCOME TAX PROVISION | 584 | 573 |
NET INCOME | $1,342 | $1,416 |
Basic and diluted net earnings per share | $0.49 | $0.52 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Comprehensive Income [Abstract] | ||
Net income | $1,342 | $1,416 |
Other comprehensive income | ||
Unrealized gains arising during the period | 768 | 774 |
Income tax effect | -261 | -263 |
Unrealized losses on held to maturity transfer | 0 | 0 |
Amounts reclassified from accumulated other comprehensive income, held-to-maturity | 54 | 52 |
Income tax effect | -18 | -18 |
Reclassification adjustment for gains on available-for- sale securities included in net income | -35 | |
Income tax effect | 12 | |
Other comprehensive income | 520 | 545 |
Total comprehensive income | $1,862 | $1,961 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Stockholders' Equity [Abstract] | ||
Balance at beginning of period | $57,450 | $52,411 |
Net income | 1,342 | 1,416 |
Other comprehensive income | 520 | 545 |
Cash dividends declared | -521 | -493 |
Balance at end of period | $58,791 | $53,879 |
Cash dividends declared per share | $0.19 | $0.18 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Cash Flows [Abstract] | ||
NET CASH FROM OPERATING ACTIVITIES | $1,193 | $997 |
Securities: | ||
Proceeds from repayments, held-to-maturity | 3,908 | 700 |
Proceeds from maturities and repayments, available-for-sale | 4,480 | 2,026 |
Purchases, available-for-sale | -10,358 | -2,535 |
Proceeds from sale of available-for-sale securities | 88 | 0 |
Proceeds from redemption of restricted stock | 850 | |
Loan originations, net of repayments | -10,049 | -28,821 |
Property, equipment, and software acquisitions | -152 | -236 |
Net cash used in investing activities | -12,083 | -28,016 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in deposits | -2,742 | -14,356 |
Net change in short-term borrowings | 5,506 | 13,121 |
Net change in other borrowings | -165 | 4,947 |
Net cash provided by financing activities | 2,599 | 3,712 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | -8,291 | -23,307 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 43,923 | 42,599 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 35,632 | 19,292 |
Cash paid during the year for: | ||
Interest | 395 | 446 |
Income taxes | 300 | |
Noncash financing activities: | ||
Dividends declared | $521 | $493 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
The accompanying condensed consolidated financial statements include the accounts of CSB Bancorp, Inc. and its wholly-owned subsidiaries, The Commercial and Savings Bank (the “Bank”) and CSB Investment Services, LLC (together referred to as the “Company” or “CSB”). All significant intercompany transactions and balances have been eliminated in consolidation. | |
The condensed consolidated financial statements have been prepared without audit. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present fairly the Company’s financial position at March 31, 2015, and the results of operations and changes in cash flows for the periods presented have been made. | |
Certain information and footnote disclosures typically included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been omitted. The Annual Report for CSB for the year ended December 31, 2014, contains Consolidated Financial Statements and related footnote disclosures, which should be read in conjunction with the accompanying Consolidated Financial Statements. The results of operations for the period ended March 31, 2015 are not necessarily indicative of the operating results for the full year or any future interim period. | |
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS | |
In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The amendments in this Update clarify 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, the amendments require 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. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method. The Company has included the disclosures related to this Update in Note 3. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (a new revenue recognition standard). The Update’s core principle is that a company will recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, this update specifies the accounting for certain costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. This Update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company is evaluating the effect of adopting this new accounting Update. | |
In June 2014, the FASB issued ASU 2014-10, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this Update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. For repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments also require enhanced disclosures. The accounting changes in this Update are effective for the first interim or annual period beginning after December 15, 2014. An entity is required to present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Earlier | |
application is prohibited. The disclosure for certain transactions accounted for as a sale is required to be presented for interim and annual periods beginning after December 15, 2014, and the disclosure for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The disclosures are not required to be presented for comparative periods before the effective date. This Update did not have a significant impact on the Company’s financial statements. | |
In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40). The amendments in this Update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. This Update did not have a significant impact on the Company’s financial statements. | |
In January 2015, the FASB issued ASU 2015-01, Income Statement –Extraordinary and Unusual Items, as part of its initiative to reduce complexity in accounting standards. This Update eliminates from GAAP the concept of extraordinary items. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. This Update is not expected to have a significant impact on the Company’s financial statements. | |
In April 2015, the FASB issued ASU 2015-05, Intangible – Goodwill and Other Internal Use Software (Topic 350-40), as part of its initiative to reduce complexity in accounting standards. This guidance will help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement. The amendments in this Update provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. For public business entities, the Board decided that the amendments will be effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. For all other entities, the amendments will be effective for annual periods beginning after December 15, 2015, and interim periods in annual periods beginning after December 15, 2016. Early adoption is permitted for all entities. This Update is not expected to have a significant impact on the Company’s financial statements. | |
Securities
Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Securities | NOTE 2 – SECURITIES | ||||||||||||||||||||||||
Securities consist of the following at March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Gross | Gross | Fair value | |||||||||||||||||||||
cost | unrealized | unrealized | |||||||||||||||||||||||
gains | losses | ||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
U.S. Treasury security | $ | 1,003 | $ | 2 | $ | — | $ | 1,005 | |||||||||||||||||
U.S. Government agencies | 28,411 | 54 | 40 | 28,425 | |||||||||||||||||||||
Mortgage-backed securities of government agencies | 47,543 | 1,221 | 12 | 48,752 | |||||||||||||||||||||
Other mortgage-backed securities | 131 | 2 | — | 133 | |||||||||||||||||||||
Asset-backed securities of government agencies | 2,568 | 12 | 6 | 2,574 | |||||||||||||||||||||
State and political subdivisions | 20,180 | 440 | 58 | 20,562 | |||||||||||||||||||||
Corporate bonds | 5,004 | 58 | 1 | 5,061 | |||||||||||||||||||||
Equity securities | 54 | 9 | — | 63 | |||||||||||||||||||||
Total available-for-sale | 104,894 | 1,798 | 117 | 106,575 | |||||||||||||||||||||
Held-to-maturity securities | |||||||||||||||||||||||||
U.S. Government agencies | 13,360 | 592 | — | 13,952 | |||||||||||||||||||||
Mortgage-backed securities of government agencies | 21,086 | 532 | 12 | 21,606 | |||||||||||||||||||||
Total held-to-maturity | 34,446 | 1,124 | 12 | 35,558 | |||||||||||||||||||||
Restricted stock | 4,614 | — | — | 4,614 | |||||||||||||||||||||
Total securities | $ | 143,954 | $ | 2,922 | $ | 129 | $ | 146,747 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
U.S. Treasury security | $ | 1,004 | $ | — | $ | 4 | $ | 1,000 | |||||||||||||||||
U.S. Government agencies | 25,228 | 6 | 155 | 25,079 | |||||||||||||||||||||
Mortgage-backed securities of government agencies | 47,696 | 730 | 79 | 48,347 | |||||||||||||||||||||
Other mortgage-backed securities | 139 | 2 | — | 141 | |||||||||||||||||||||
Asset-backed securities of government agencies | 2,606 | 3 | 5 | 2,604 | |||||||||||||||||||||
State and political subdivisions | 17,878 | 433 | 44 | 18,267 | |||||||||||||||||||||
Corporate bonds | 4,503 | 40 | 1 | 4,542 | |||||||||||||||||||||
Equity securities | 106 | 22 | — | 128 | |||||||||||||||||||||
Total available-for-sale | 99,160 | 1,236 | 288 | 100,108 | |||||||||||||||||||||
Held-to-maturity securities | |||||||||||||||||||||||||
U.S. Government agencies | 16,343 | 294 | 2 | 16,635 | |||||||||||||||||||||
Mortgage-backed securities of government agencies | 21,973 | 398 | 56 | 22,315 | |||||||||||||||||||||
Total held-to-maturity | 38,316 | 692 | 58 | 38,950 | |||||||||||||||||||||
Restricted stock | 4,614 | — | — | 4,614 | |||||||||||||||||||||
Total securities | $ | 142,090 | $ | 1,928 | $ | 346 | $ | 143,672 | |||||||||||||||||
The amortized cost and fair value of debt securities at March 31, 2015, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Fair value | |||||||||||||||||||||||
cost | |||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
Due in one year or less | $ | 4,618 | $ | 4,643 | |||||||||||||||||||||
Due after one through five years | 21,954 | 22,196 | |||||||||||||||||||||||
Due after five through ten years | 26,055 | 26,290 | |||||||||||||||||||||||
Due after ten years | 52,213 | 53,383 | |||||||||||||||||||||||
Total debt securities available-for-sale | $ | 104,840 | $ | 106,512 | |||||||||||||||||||||
Held-to-maturity: | |||||||||||||||||||||||||
Due in one year or less | $ | — | $ | — | |||||||||||||||||||||
Due after one through five years | — | — | |||||||||||||||||||||||
Due after five through ten years | 5,702 | 5,973 | |||||||||||||||||||||||
Due after ten years | 28,744 | 29,585 | |||||||||||||||||||||||
Total debt securities held-to-maturity | $ | 34,446 | $ | 35,558 | |||||||||||||||||||||
Securities with a carrying value of approximately $94.7 million and $88.4 million were pledged at March 31, 2015 and December 31, 2014, respectively, to secure public deposits, as well as other deposits and borrowings as required or permitted by law. | |||||||||||||||||||||||||
Restricted stock primarily consists of investments in Federal Home Loan Bank of Cincinnati (FHLB) and Federal Reserve Bank stock. The Bank’s investment in FHLB stock amounted to approximately $4.1 million at March 31, 2015 and December 31, 2014. The FHLB mandatorily redeemed members’ stock during the first quarter of 2014. Federal Reserve Bank stock was $471 thousand at March 31, 2015 and December 31, 2014. | |||||||||||||||||||||||||
The following table shows the proceeds from sales of available-for-sale securities and the gross realized gains and losses on the sales of those securities that have been included in earnings as a result of the sales. | |||||||||||||||||||||||||
Three months ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | |||||||||||||||||||||||
Proceeds | $ | 88 | $ | — | |||||||||||||||||||||
Realized gains | 35 | — | |||||||||||||||||||||||
Realized losses | — | — | |||||||||||||||||||||||
Net securities gains | $ | 35 | $ | — | |||||||||||||||||||||
The income tax provision applicable to realized gains amounted to $12 thousand for the three month period ending March 31, 2015. | |||||||||||||||||||||||||
The following table presents gross unrealized losses and fair value of securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||
Securities in a continuous unrealized loss position | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
(Dollars in thousands) | Gross | Fair | Gross | Fair | Gross | Fair | |||||||||||||||||||
unrealized | value | unrealized | value | unrealized | value | ||||||||||||||||||||
losses | losses | losses | |||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
U.S. Government agencies | $ | 2 | $ | 3,193 | $ | 38 | $ | 5,962 | $ | 40 | $ | 9,155 | |||||||||||||
Mortgage-backed securities of government agencies | 12 | 1,322 | — | — | 12 | 1,322 | |||||||||||||||||||
Asset-backed securities of government agencies | 6 | 993 | — | — | 6 | 993 | |||||||||||||||||||
State and political subdivisions | 47 | 3,017 | 11 | 686 | 58 | 3,703 | |||||||||||||||||||
Corporate bonds | 1 | 499 | — | — | 1 | 499 | |||||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||
Mortgage-backed securities of government agencies | 12 | 3,228 | — | — | 12 | 3,228 | |||||||||||||||||||
Total temporarily impaired securities | $ | 80 | $ | 12,252 | $ | 49 | $ | 6,648 | $ | 129 | $ | 18,900 | |||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
U.S. Treasury security | $ | 4 | $ | 1,000 | $ | — | $ | — | $ | 4 | $ | 1,000 | |||||||||||||
U.S. Government agencies | 12 | 5,188 | 143 | 5,856 | 155 | 11,044 | |||||||||||||||||||
Mortgage-backed securities of government agencies | 40 | 6,348 | 39 | 4,939 | 79 | 11,287 | |||||||||||||||||||
Asset-backed securities of government agencies | 5 | 1,603 | — | — | 5 | 1,603 | |||||||||||||||||||
State and political subdivisions | 13 | 1,300 | 31 | 1,416 | 44 | 2,716 | |||||||||||||||||||
Corporate bonds | 1 | 499 | — | — | 1 | 499 | |||||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||
U.S. Government agencies | 2 | 998 | — | — | 2 | 998 | |||||||||||||||||||
Mortgage-backed securities of government agencies | — | — | 56 | 9,265 | 56 | 9,265 | |||||||||||||||||||
Total temporarily impaired securities | $ | 77 | $ | 16,936 | $ | 269 | $ | 21,476 | $ | 346 | $ | 38,412 | |||||||||||||
There were twenty-six (26) securities in an unrealized loss position at March 31, 2015, nine (9) of which were in a continuous loss position for twelve months or more. At least quarterly, the Company conducts a comprehensive security-level impairment assessment. The assessments are based on the nature of the securities, the extent and duration of the securities in an unrealized loss position, the extent and duration of the loss and management’s intent to sell or if it is more likely than not that management will be required to sell a security before recovery of its amortized cost basis, which may be maturity. Management believes the Company will fully recover the cost of these securities. It does not intend to sell these securities and likely will not be required to sell them before the anticipated recovery of the remaining amortized cost basis, which may be maturity. As a result, management concluded that these securities were not other-than-temporarily impaired at March 31, 2015. |
Loans
Loans | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||
Loans | NOTE 3 – LOANS | ||||||||||||||||||||||||||||
Loans consist of the following: | |||||||||||||||||||||||||||||
(Dollars in thousands) | March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||
Commercial | $ | 131,315 | $ | 123,813 | |||||||||||||||||||||||||
Commercial real estate | 142,742 | 139,695 | |||||||||||||||||||||||||||
Residential real estate | 122,451 | 121,684 | |||||||||||||||||||||||||||
Construction & land development | 16,110 | 17,446 | |||||||||||||||||||||||||||
Consumer | 7,875 | 7,913 | |||||||||||||||||||||||||||
Total loans before deferred costs | 420,493 | 410,551 | |||||||||||||||||||||||||||
Deferred loan costs | 368 | 352 | |||||||||||||||||||||||||||
Total Loans | $ | 420,861 | $ | 410,903 | |||||||||||||||||||||||||
Loan Origination/Risk Management | |||||||||||||||||||||||||||||
The Company has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. Management reviews and approves these policies and procedures on a regular basis. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and non-performing and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions. | |||||||||||||||||||||||||||||
Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Underwriting standards are designed to promote relationship banking rather than transactional banking. The Company’s management examines current and occasionally projected cash flows to determine the ability of the borrower to repay their obligations as agreed. Commercial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers; however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. | |||||||||||||||||||||||||||||
Commercial real estate loans are subject to underwriting standards and processes similar to commercial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s commercial real estate portfolio are diverse in terms of type. This diversity helps reduce the Company’s exposure to adverse economic events that affect any single industry. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner occupied loans. At March 31, 2015 and December 31, 2014, approximately 78% and 77%, respectively of the outstanding principal balance of the Company’s commercial real estate loans were secured by owner-occupied properties. | |||||||||||||||||||||||||||||
With respect to loans to developers and builders that are secured by non-owner occupied properties, the Company generally requires the borrower to have had an existing relationship with the Company and have a proven record of success. Construction and land development loans are underwritten utilizing independent appraisal reviews, sensitivity analysis of absorption and lease rates and financial analysis of the developers and property owners. Construction and land development loans are generally based upon estimates of costs and value associated with the completed project. These estimates may be inaccurate. | |||||||||||||||||||||||||||||
Construction and land development loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risk than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing. | |||||||||||||||||||||||||||||
The Company originates consumer loans utilizing a judgmental underwriting process. To monitor and manage consumer loan risk, policies and procedures are developed and modified, as needed, jointly by line and staff personnel. This activity, coupled with relatively small loan amounts that are spread across many individual borrowers, minimizes risk. | |||||||||||||||||||||||||||||
The Company maintains an independent loan review department that reviews and validates the credit risk program on a periodic basis. Results of these reviews are presented to management. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures. | |||||||||||||||||||||||||||||
Loans serviced for others approximated $73.4 million and $70.6 million at March 31, 2015 and December 31, 2014, respectively. | |||||||||||||||||||||||||||||
Concentrations of Credit | |||||||||||||||||||||||||||||
Nearly all of the Company’s lending activity occurs within the state of Ohio, including the four (4) counties of Holmes, Stark, Tuscarawas and Wayne, as well as other markets. The majority of the Company’s loan portfolio consists of commercial and industrial and commercial real estate loans. As of March 31, 2015 and December 31, 2014, there were no concentrations of loans related to any single industry. | |||||||||||||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||||||||
The following table details activity in the allowance for loan losses by portfolio segment for the three month periods ended March 31, 2015 and 2014. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. The increase in the provision for loan losses related to commercial and industrial loans was primarily due to the increase in loan balances. The increase in the provision related to commercial real estate loans was affected by an increase in loan balances and charge-offs that occurred during the three months ended March 31, 2015. The increase in the provision related to consumer loans was due to charge-offs of loans in that category. | |||||||||||||||||||||||||||||
The increase in the provision for possible loan losses during the three months ended March 31, 2014 related to commercial real estate loans was affected by an increase in the historical loss rate of this loan type, as well as a charge-off that occurred during the first quarter of 2014. The provision for possible loan losses related to residential real estate decreased during the first quarter of 2014 as a result of a decrease in the historical loss rate within this category. | |||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Residential | Construction | Consumer | Unallocated | Total | ||||||||||||||||||||||
Real Estate | Real Estate | & Land | |||||||||||||||||||||||||||
Development | |||||||||||||||||||||||||||||
Three months ended March 31, 2015 | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,289 | $ | 1,524 | $ | 1,039 | $ | 142 | $ | 60 | $ | 327 | $ | 4,381 | |||||||||||||||
Provision for possible loan losses | 101 | 64 | 8 | (9 | ) | 36 | (6 | ) | 194 | ||||||||||||||||||||
Charge-offs | (2 | ) | (24 | ) | (53 | ) | — | (30 | ) | (109 | ) | ||||||||||||||||||
Recoveries | 6 | 10 | 9 | — | 3 | 28 | |||||||||||||||||||||||
Net charge-offs | 4 | (14 | ) | (44 | ) | — | (27 | ) | (81 | ) | |||||||||||||||||||
Ending balance | $ | 1,394 | $ | 1,574 | $ | 1,003 | $ | 133 | $ | 69 | $ | 321 | $ | 4,494 | |||||||||||||||
Three months ended March 31, 2014 | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,219 | $ | 1,872 | $ | 1,205 | $ | 178 | $ | 91 | $ | 520 | $ | 5,085 | |||||||||||||||
Provision for possible loan losses | (72 | ) | 517 | (151 | ) | (33 | ) | (12 | ) | (64 | ) | 185 | |||||||||||||||||
Charge-offs | (8 | ) | (197 | ) | (4 | ) | — | (8 | ) | (217 | ) | ||||||||||||||||||
Recoveries | 2 | — | 4 | — | 6 | 12 | |||||||||||||||||||||||
Net charge-offs | (6 | ) | (197 | ) | — | — | (2 | ) | (205 | ) | |||||||||||||||||||
Ending balance | $ | 1,141 | $ | 2,192 | $ | 1,054 | $ | 145 | $ | 77 | $ | 456 | $ | 5,065 | |||||||||||||||
The following table presents the balance in the allowance for loan losses and the ending loan balances by portfolio segment and based on the impairment method as of March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Residential | Construction | Consumer | Unallocated | Total | ||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 105 | $ | 38 | $ | — | $ | — | $ | — | $ | 143 | |||||||||||||||
Collectively evaluated for impairment | 1,394 | 1,469 | 965 | 133 | 69 | 321 | 4,351 | ||||||||||||||||||||||
Total ending allowance balance | $ | 1,394 | $ | 1,574 | $ | 1,003 | $ | 133 | $ | 69 | $ | 321 | $ | 4,494 | |||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 5,421 | $ | 1,644 | $ | 1,522 | $ | — | $ | — | $ | 8,587 | |||||||||||||||||
Loans collectively evaluated for impairment | 125,894 | 141,098 | 120,929 | 16,110 | 7,875 | 411,906 | |||||||||||||||||||||||
Total ending loans balance | $ | 131,315 | $ | 142,742 | $ | 122,451 | $ | 16,110 | $ | 7,875 | $ | 420,493 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 109 | $ | 75 | $ | — | $ | — | $ | — | $ | 184 | |||||||||||||||
Collectively evaluated for impairment | 1,289 | 1,415 | 964 | 142 | 60 | 327 | 4,197 | ||||||||||||||||||||||
Total ending allowance balance | $ | 1,289 | $ | 1,524 | $ | 1,039 | $ | 142 | $ | 60 | $ | 327 | $ | 4,381 | |||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 5,922 | $ | 1,679 | $ | 1,612 | $ | — | $ | — | $ | 9,213 | |||||||||||||||||
Loans collectively evaluated for impairment | 117,891 | 138,016 | 120,072 | 17,446 | 7,913 | 401,338 | |||||||||||||||||||||||
Total ending loans balance | $ | 123,813 | $ | 139,695 | $ | 121,684 | $ | 17,446 | $ | 7,913 | $ | 410,551 | |||||||||||||||||
The following table presents loans individually evaluated for impairment by class of loans as of March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||||||
(Dollars in thousands) | Unpaid | Recorded | Recorded | Total | Related | ||||||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | |||||||||||||||||||||||||
Balance | with no | with | Investment | ||||||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | $ | 6,584 | $ | 5,416 | $ | 21 | $ | 5,437 | $ | — | |||||||||||||||||||
Commercial real estate | 1,829 | 1,011 | 632 | 1,643 | 105 | ||||||||||||||||||||||||
Residential real estate | 1,703 | 1,042 | 484 | 1,526 | 38 | ||||||||||||||||||||||||
Total impaired loans | $ | 10,116 | $ | 7,469 | $ | 1,137 | $ | 8,606 | $ | 143 | |||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | $ | 7,011 | $ | 5,889 | $ | 37 | $ | 5,926 | $ | — | |||||||||||||||||||
Commercial real estate | 1,836 | 950 | 728 | 1,678 | 109 | ||||||||||||||||||||||||
Residential real estate | 1,721 | 885 | 730 | 1,615 | 75 | ||||||||||||||||||||||||
Total impaired loans | $ | 10,568 | $ | 7,724 | $ | 1,495 | $ | 9,219 | $ | 184 | |||||||||||||||||||
The following table presents the average recorded investment in impaired loans and related interest income recognized for the periods indicated. | |||||||||||||||||||||||||||||
Three months | |||||||||||||||||||||||||||||
ended March 31, | |||||||||||||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | |||||||||||||||||||||||||||
Average recorded investment: | |||||||||||||||||||||||||||||
Commercial | $ | 5,857 | $ | 6,156 | |||||||||||||||||||||||||
Commercial real estate | 1,704 | 3,697 | |||||||||||||||||||||||||||
Residential real estate | 1,618 | 1,884 | |||||||||||||||||||||||||||
Average recorded investment in impaired loans | $ | 9,179 | $ | 11,737 | |||||||||||||||||||||||||
Interest income recognized: | |||||||||||||||||||||||||||||
Commercial | $ | 51 | $ | 92 | |||||||||||||||||||||||||
Commercial real estate | 5 | 35 | |||||||||||||||||||||||||||
Residential real estate | 16 | 15 | |||||||||||||||||||||||||||
Interest income recognized on a cash basis on impaired loans | $ | 72 | $ | 142 | |||||||||||||||||||||||||
The following table presents the aging of past due loans and nonaccrual loans as of March 31, 2015 and December 31, 2015 by class of loans: | |||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30 - 59 | 60 - 89 | 90 Days + | Non- | Total Past | Total Loans | ||||||||||||||||||||||
Days Past | Days Past | Past Due | Accrual | Due and | |||||||||||||||||||||||||
Due | Due | Non- | |||||||||||||||||||||||||||
Accrual | |||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | $ | 130,192 | $ | 97 | $ | — | $ | — | $ | 1,026 | $ | 1,123 | $ | 131,315 | |||||||||||||||
Commercial real estate | 140,886 | 62 | — | 132 | 1,662 | 1,856 | 142,742 | ||||||||||||||||||||||
Residential real estate | 120,974 | 635 | 3 | 155 | 684 | 1,477 | 122,451 | ||||||||||||||||||||||
Construction & land development | 16,110 | — | — | — | — | — | 16,110 | ||||||||||||||||||||||
Consumer | 7,778 | 65 | 6 | — | 26 | 97 | 7,875 | ||||||||||||||||||||||
Total Loans | $ | 415,940 | $ | 859 | $ | 9 | $ | 287 | $ | 3,398 | $ | 4,553 | $ | 420,493 | |||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | $ | 122,283 | $ | 362 | $ | 96 | $ | 1 | $ | 1,071 | $ | 1,530 | $ | 123,813 | |||||||||||||||
Commercial real estate | 137,683 | 174 | 104 | — | 1,734 | 2,012 | 139,695 | ||||||||||||||||||||||
Residential real estate | 120,025 | 424 | 92 | 280 | 863 | 1,659 | 121,684 | ||||||||||||||||||||||
Construction & land development | 17,431 | — | 15 | — | — | 15 | 17,446 | ||||||||||||||||||||||
Consumer | 7,798 | 73 | 42 | — | — | 115 | 7,913 | ||||||||||||||||||||||
Total Loans | $ | 405,220 | $ | 1,033 | $ | 349 | $ | 281 | $ | 3,668 | $ | 5,331 | $ | 410,551 | |||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||
All troubled debt restructurings (“TDR’s) are individually evaluated for impairment and a related allowance is recorded, as needed. Loans whose terms have been modified as TDR’s totaled $6.3 million as of March 31, 2015, and $6.8 million as of December 31, 2014, with $55 thousand and $88 thousand of specific reserves allocated to those loans, respectively. At March 31, 2015, $5.9 million of the loans classified as TDR’s were performing in accordance with their modified terms. Of the remaining $396 thousand, all were in nonaccrual of interest status. | |||||||||||||||||||||||||||||
The Company held no foreclosed real estate as of March 31, 2015 or March 31, 2014. Consumer mortgage loans in the process of foreclosure were $199 thousand at March 31, 2015 and $149 thousand at March 31, 2014. | |||||||||||||||||||||||||||||
The following table presents loans restructured during the three month period ended March 31, 2015 and the three month period ended March 31, 2014. | |||||||||||||||||||||||||||||
(Dollars in thousands) | Number of | Pre- | Post- | ||||||||||||||||||||||||||
loans | Modification | Modification | |||||||||||||||||||||||||||
restructured | Recorded | Recorded | |||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
Residential Real Estate | 1 | $ | 29 | $ | 29 | ||||||||||||||||||||||||
Total Restructured Loans | 1 | $ | 29 | $ | 29 | ||||||||||||||||||||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
Residential Real Estate | 1 | $ | 84 | $ | 84 | ||||||||||||||||||||||||
Total Restructured Loans | 1 | $ | 84 | $ | 84 | ||||||||||||||||||||||||
The loans restructured were modified by changing the monthly payment to interest only. No principal reduction was made. None of the loans that were restructured in 2013 or 2014 have subsequently defaulted in the three month periods ended March 31, 2015 and 2014. | |||||||||||||||||||||||||||||
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. The Company analyzes commercial loans individually by classifying the loans as to credit risk. This analysis includes commercial loans with an outstanding balance greater than $300 thousand. This analysis is performed on an annual basis. The Company uses the following definitions for risk ratings: | |||||||||||||||||||||||||||||
Pass. Loans classified as pass (Acceptable, Low Acceptable or Pass Watch) may exhibit a wide array of characteristics but at minimum represent an acceptable risk to the Bank. Borrowers in this rating may have leveraged but acceptable balance sheet positions, satisfactory asset quality, and stable to favorable sales and earnings trends, acceptable liquidity and adequate cash flow. Loans are considered fully collectible and require an average amount of administration. While generally adhering to credit policy, these loans may exhibit occasional exceptions that do not result in undue risk to the Bank. Borrowers are generally capable of absorbing setbacks, financial and otherwise, without the threat of failure. | |||||||||||||||||||||||||||||
Special Mention. Loans classified as special mention have material weaknesses that deserve management’s close attention. If left uncorrected, these weaknesses may result in deterioration of the repayment prospects for the loan at some future date. | |||||||||||||||||||||||||||||
Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||
Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | |||||||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Loans listed as not rated are either less than $300 thousand or are included in groups of homogeneous loans. Based on the most recent analysis performed, the risk category of loans by class is as follows as of March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Not Rated | Total | |||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | $ | 119,599 | $ | 4,303 | $ | 6,910 | $ | — | $ | 503 | $ | 131,315 | |||||||||||||||||
Commercial real estate | 133,505 | 4,841 | 3,489 | — | 907 | 142,742 | |||||||||||||||||||||||
Residential real estate | 207 | — | 38 | — | 122,206 | 122,451 | |||||||||||||||||||||||
Construction & land development | 11,940 | 1,279 | — | — | 2,891 | 16,110 | |||||||||||||||||||||||
Consumer | — | — | — | — | 7,875 | 7,875 | |||||||||||||||||||||||
Total | $ | 265,251 | $ | 10,423 | $ | 10,437 | $ | — | $ | 134,382 | $ | 420,493 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | $ | 112,467 | $ | 3,809 | $ | 6,690 | $ | — | $ | 847 | $ | 123,813 | |||||||||||||||||
Commercial real estate | 129,792 | 4,898 | 3,634 | — | 1,371 | 139,695 | |||||||||||||||||||||||
Residential real estate | 209 | — | 39 | — | 121,436 | 121,684 | |||||||||||||||||||||||
Construction & land development | 13,889 | 1,579 | — | — | 1,978 | 17,446 | |||||||||||||||||||||||
Consumer | — | — | — | — | 7,913 | 7,913 | |||||||||||||||||||||||
Total | $ | 256,357 | $ | 10,286 | $ | 10,363 | $ | — | $ | 133,545 | $ | 410,551 | |||||||||||||||||
The following table presents loans that are not rated by class of loans as of March 31, 2015 and December 31, 2014. Nonperforming loans include loans past due 90 days or more and loans on nonaccrual of interest status. | |||||||||||||||||||||||||||||
(Dollars in thousands) | Performing | Non-Performing | Total | ||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | $ | 503 | $ | — | $ | 503 | |||||||||||||||||||||||
Commercial real estate | 907 | — | 907 | ||||||||||||||||||||||||||
Residential real estate | 121,405 | 801 | 122,206 | ||||||||||||||||||||||||||
Construction & land development | 2,891 | — | 2,891 | ||||||||||||||||||||||||||
Consumer | 7,849 | 26 | 7,875 | ||||||||||||||||||||||||||
Total | $ | 133,555 | $ | 827 | $ | 134,382 | |||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | $ | 847 | $ | — | $ | 847 | |||||||||||||||||||||||
Commercial real estate | 1,371 | — | 1,371 | ||||||||||||||||||||||||||
Residential real estate | 120,332 | 1,104 | 121,436 | ||||||||||||||||||||||||||
Construction & land development | 1,978 | — | 1,978 | ||||||||||||||||||||||||||
Consumer | 7,913 | — | 7,913 | ||||||||||||||||||||||||||
Total | $ | 132,441 | $ | 1,104 | $ | 133,545 | |||||||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Measurements | NOTE 4 – FAIR VALUE MEASUREMENTS | ||||||||||||||||
The Company provides disclosures about assets and liabilities carried at fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and lowest priority to unobservable inputs. The three broad levels of the fair value hierarchy are described below: | |||||||||||||||||
Level I: | Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. | ||||||||||||||||
Level II: | Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by corroborated or other means. If the asset or liability has a specified (contractual) term, the Level II input must be observable for substantially the full term of the asset or liability. | ||||||||||||||||
Level III: | Inputs to the valuation methodology are unobservable and significant to the fair value measurement. | ||||||||||||||||
The following table presents the assets reported on the Consolidated Balance Sheet at their fair value as of March 31, 2015 and December 31, 2014 by level within the fair value hierarchy. No liabilities are carried at fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Equity securities and U.S. Treasury Notes are valued at the closing price reported on the active market on which the individual securities are traded. Obligations of U.S. government agencies, mortgage-backed securities, asset-backed securities, obligations of states and political subdivisions and corporate bonds are valued at observable market data for similar assets. | |||||||||||||||||
(Dollars in thousands) | Level I | Level II | Level III | Total | |||||||||||||
March 31, 2015 | |||||||||||||||||
Assets: | |||||||||||||||||
Securities available-for-sale | |||||||||||||||||
U.S. Treasury security | $ | 1,005 | $ | — | $ | — | $ | 1,005 | |||||||||
U.S. Government agencies | — | 28,425 | — | 28,425 | |||||||||||||
Mortgage-backed securities of government agencies | — | 48,752 | — | 48,752 | |||||||||||||
Other mortgage-backed securities | — | 133 | — | 133 | |||||||||||||
Asset-backed securities of government agencies | — | 2,574 | — | 2,574 | |||||||||||||
State and political subdivisions | — | 20,562 | — | 20,562 | |||||||||||||
Corporate bonds | — | 5,061 | — | 5,061 | |||||||||||||
Total debt securities | 1,005 | 105,507 | — | 106,512 | |||||||||||||
Equity securities | 63 | — | — | 63 | |||||||||||||
Total available-for-sale securities | $ | 1,068 | $ | 105,507 | $ | — | $ | 106,575 | |||||||||
December 31, 2014 | |||||||||||||||||
Assets: | |||||||||||||||||
Securities available-for-sale | |||||||||||||||||
U.S. Treasury security | $ | 1,000 | $ | — | $ | — | $ | 1,000 | |||||||||
U.S. Government agencies | — | 25,079 | — | 25,079 | |||||||||||||
Mortgage-backed securities of government agencies | — | 48,347 | — | 48,347 | |||||||||||||
Other mortgage-backed securities | — | 141 | — | 141 | |||||||||||||
Asset-backed securities | |||||||||||||||||
of government agencies | — | 2,604 | — | 2,604 | |||||||||||||
State and political subdivisions | — | 18,267 | — | 18,267 | |||||||||||||
Corporate bonds | — | 4,542 | — | 4,542 | |||||||||||||
Total debt securities | 1,000 | 98,980 | — | 99,980 | |||||||||||||
Equity securities | 128 | — | — | 128 | |||||||||||||
Total available-for-sale securities | $ | 1,128 | $ | 98,980 | $ | — | $ | 100,108 | |||||||||
The following table presents the assets measured on a nonrecurring basis on the Consolidated Balance Sheets at their fair value as of March 31, 2015 and December 31, 2014, by level within the fair value hierarchy. Impaired loans and other real estate are written down to fair value through the establishment of specific reserves. Techniques used to value the collateral that secure the impaired loans include: quoted market prices for identical assets classified as Level I inputs; and observable inputs, employed by certified appraisers, for similar assets classified as Level II inputs. In cases where valuation techniques included inputs that are unobservable and are based on estimates and assumptions developed by management based on the best information available under each circumstance, the asset valuation is classified as Level III inputs. | |||||||||||||||||
(Dollars in thousands) | Level I | Level II | Level III | Total | |||||||||||||
March 31, 2015 | |||||||||||||||||
Assets measured on a nonrecurring basis: | |||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 8,444 | $ | 8,444 | |||||||||
31-Dec-14 | |||||||||||||||||
Assets measured on a nonrecurring basis: | |||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 9,029 | $ | 9,029 | |||||||||
The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level III inputs to determine fair value: | |||||||||||||||||
Quantitative Information about Level III Fair Value Measurements | |||||||||||||||||
Fair Value | Valuation | Unobservable | Range | ||||||||||||||
Estimate | Techniques | ||||||||||||||||
Input | (Weighted Average) | ||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Impaired loans | $ | 6,047 | Discounted cash flow | Remaining term Discount rate | 2 mos to 27 yrs (63 months) | ||||||||||||
3.1% to 9.8% (4.6%) | |||||||||||||||||
2,397 | Appraisal of collateral(1),(3) | Appraisal adjustments (2) Liquidation expense (2) | 0% to -35% (-26%) | ||||||||||||||
-10% (-10%) | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Impaired loans | $ | 6,539 | Discounted cash flow | Remaining term | 2 mos to 28 yrs / (62 mos) | ||||||||||||
Discount rate | 3.1% to 8.3% / (4.6%) | ||||||||||||||||
2,490 | Appraisal of collateral(1),(3) | Appraisal adjustments (2) Liquidation expense (2) | -20% to -25% (-24%) | ||||||||||||||
-10% | |||||||||||||||||
-1 | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various inputs which are not identifiable. | ||||||||||||||||
-2 | Appraisals may be adjusted by management for qualitative factors such as estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. | ||||||||||||||||
-3 | Includes qualitative adjustments by management and estimated liquidation expenses. |
Fair_Values_of_Financial_Instr
Fair Values of Financial Instruments | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Investments, All Other Investments [Abstract] | |||||||||||||||||||||
Fair Values of Financial Instruments | NOTE 5 – FAIR VALUES OF FINANCIAL INSTRUMENTS | ||||||||||||||||||||
The estimated fair values of recognized financial instruments as of March 31, 2015 and December 31, 2014 are as follows: | |||||||||||||||||||||
(Dollars in thousands) | Carrying | Level 1 | Level II | Level III | Total Fair | ||||||||||||||||
Value | Value | ||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 35,632 | $ | 35,632 | $ | — | $ | — | $ | 35,632 | |||||||||||
Securities available-for-sale | 106,575 | 1,068 | 105,507 | — | 106,575 | ||||||||||||||||
Securities held-to-maturity | 34,446 | — | 35,558 | — | 35,558 | ||||||||||||||||
Restricted stock | 4,614 | 4,614 | — | — | 4,614 | ||||||||||||||||
Loans held for sale | 299 | 299 | — | — | 299 | ||||||||||||||||
Net loans | 416,367 | — | — | 421,853 | 421,853 | ||||||||||||||||
Bank-owned life insurance | 9,881 | 9,881 | — | — | 9,881 | ||||||||||||||||
Accrued interest receivable | 1,625 | 1,625 | — | — | 1,625 | ||||||||||||||||
Mortgage servicing rights | 222 | — | — | 222 | 222 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 497,333 | $ | 370,962 | $ | — | $ | 127,054 | $ | 498,016 | |||||||||||
Short-term borrowings | 52,133 | 52,133 | — | — | 52,133 | ||||||||||||||||
Other borrowings | 14,788 | — | — | 15,036 | 15,036 | ||||||||||||||||
Accrued interest payable | 82 | 82 | — | — | 82 | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 43,923 | $ | 43,923 | $ | — | $ | — | $ | 43,923 | |||||||||||
Securities available-for-sale | 100,108 | 1,128 | 98,980 | — | 100,108 | ||||||||||||||||
Securities held-to-maturity | 38,316 | — | 38,950 | — | 38,950 | ||||||||||||||||
Restricted stock | 4,614 | 4,614 | — | — | 4,614 | ||||||||||||||||
Loans held for sale | 75 | 75 | — | — | 75 | ||||||||||||||||
Net loans | 406,522 | — | — | 411,168 | 411,168 | ||||||||||||||||
Bank-owned life insurance | 9,815 | 9,815 | — | — | 9,815 | ||||||||||||||||
Accrued interest receivable | 1,329 | 1,329 | — | — | 1,329 | ||||||||||||||||
Mortgage servicing rights | 222 | — | — | 222 | 222 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 500,075 | $ | 372,312 | $ | — | $ | 128,445 | $ | 500,757 | |||||||||||
Short-term borrowings | 46,627 | 46,627 | — | — | 46,627 | ||||||||||||||||
Other borrowings | 14,953 | — | — | 15,348 | 15,348 | ||||||||||||||||
Accrued interest payable | 84 | 84 | — | — | 84 | ||||||||||||||||
For purposes of the above disclosures of estimated fair value, the following assumptions are used: | |||||||||||||||||||||
Cash and cash equivalents; Loans held for sale; Accrued interest receivable; Short-term borrowings and Accrued interest payable | |||||||||||||||||||||
The fair value of the above instruments is considered to be carrying value, classified as Level I in the fair value hierarchy. | |||||||||||||||||||||
Securities | |||||||||||||||||||||
The fair value of securities available-for-sale and securities held-to-maturity which are measured on a recurring basis are determined primarily by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on securities’ relationship to other similar securities, classified as Level I or Level II in the fair value hierarchy. | |||||||||||||||||||||
Net loans | |||||||||||||||||||||
The fair value for loans is estimated by discounting future cash flows using current market inputs at which loans with similar terms and qualities would be made to borrowers of similar credit quality. Where quoted market prices were available, primarily for certain residential mortgage loans, such market rates were utilized as estimates for fair value. Fair value of non-accrual loans is based on carrying value, classified as Level III. | |||||||||||||||||||||
Bank-owned life insurance | |||||||||||||||||||||
The carrying amount of bank-owned life insurance is based on the cash surrender value of the policies and is a reasonable estimate of fair value, classified as Level I. | |||||||||||||||||||||
Restricted stock | |||||||||||||||||||||
Restricted stock includes Federal Home Loan Bank Stock and Federal Reserve Bank Stock. It is not practicable to determine the fair value of regulatory equity securities due to restrictions placed on their transferability. Fair value is based on carrying value, classified as Level II. | |||||||||||||||||||||
Mortgage servicing rights | |||||||||||||||||||||
The fair value of mortgage servicing rights is based on a valuation model that calculates the present value of estimated net servicing income. The valuation model incorporates discounted cash flow and repayment assumptions based on management’s best judgment. As a result, these rights are measured at fair value on a recurring basis and are classified within Level III of the fair value hierarchy. | |||||||||||||||||||||
Deposits | |||||||||||||||||||||
The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rates are estimated using market rates currently offered for similar instruments with similar remaining maturities, resulting in a Level III classification. Demand, savings, and money market deposit accounts are valued at the amount payable on demand as of quarter end, resulting in a Level I classification. | |||||||||||||||||||||
Other borrowings | |||||||||||||||||||||
The fair value of Federal Home Loan Bank advances are estimated using a discounted cash flow analysis based on the current borrowing rates for similar types of borrowings, resulting in a Level III classification. | |||||||||||||||||||||
The Company also has unrecognized financial instruments at March 31, 2015 and December 31, 2014. These financial instruments relate to commitments to extend credit and letters of credit. The aggregated contract amount of such financial instruments was approximately $126 million at March 31, 2015 and $128 million at December 31, 2014. Such amounts are also considered to be the estimated fair values. | |||||||||||||||||||||
The fair value estimates of financial instruments are made at a specific point in time based on relevant market information. These estimates do not reflect any premium or discount that could result from offering for sale at one time the entire holdings of a particular financial instrument over the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Since no ready market exists for a significant portion of the financial instruments, fair value estimates are largely based on judgments after considering such factors as future expected credit losses, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 3 Months Ended | ||||||||||||||
Mar. 31, 2015 | |||||||||||||||
Equity [Abstract] | |||||||||||||||
Accumulated Other Comprehensive Income | NOTE 6 – ACCUMULATED OTHER COMPREHENSIVE INCOME | ||||||||||||||
The following table presents the changes in accumulated other comprehensive income by component net of tax for the three month periods ended March 31, 2015 and 2014: | |||||||||||||||
(Dollars in thousands) | Pretax | Tax | After-tax | Affected Line | |||||||||||
(Expense) | Item in the | ||||||||||||||
Benefit | Consolidated | ||||||||||||||
Statements of | |||||||||||||||
Income | |||||||||||||||
Three months ended March 31, 2015 | |||||||||||||||
Balance as of December 31, 2014 | $ | (427 | ) | $ | 145 | $ | (282 | ) | |||||||
Unrealized holding gain on available-for-sale securities arising during the period | 768 | (261 | ) | 507 | |||||||||||
Reclassify gain included in income | (35 | ) | 12 | (23 | ) | (a,b) | |||||||||
Amortization of held-to-maturity discount resulting from transfer | 54 | (18 | ) | 36 | (c) | ||||||||||
Total other comprehensive income | 787 | (267 | ) | 520 | |||||||||||
Balance as of March 31, 2015 | $ | 360 | $ | (122 | ) | $ | 238 | ||||||||
Three months ended March 31, 2014 | |||||||||||||||
Balance as of December 31, 2013 | $ | (2,207 | ) | $ | 751 | $ | (1,456 | ) | |||||||
Unrealized holding gain on available-for-sale securities arising during the period | 774 | (263 | ) | 511 | |||||||||||
Reclassify gain included in income | — | — | — | (a,b) | |||||||||||
Amortization of held-to-maturity discount resulting from transfer | 52 | (18 | ) | 34 | (c) | ||||||||||
Total other comprehensive income | 826 | (281 | ) | 545 | |||||||||||
Balance as of March 31, 2014 | $ | (1,381 | ) | $ | 470 | $ | (911 | ) | |||||||
(a) | Securities gain, net | ||||||||||||||
(b) | Federal Income Tax Provision | ||||||||||||||
(c) | There was no income statement effect from the transfer of securities to held-to-maturity. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Receivables | In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The amendments in this Update clarify 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, the amendments require 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. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method. The Company has included the disclosures related to this Update in Note 3. |
In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40). The amendments in this Update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. This Update did not have a significant impact on the Company’s financial statements. | |
Revenue Recognition | In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (a new revenue recognition standard). The Update’s core principle is that a company will recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, this update specifies the accounting for certain costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. This Update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company is evaluating the effect of adopting this new accounting Update. |
Transfers and Servicing | In June 2014, the FASB issued ASU 2014-10, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this Update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. For repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments also require enhanced disclosures. The accounting changes in this Update are effective for the first interim or annual period beginning after December 15, 2014. An entity is required to present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Earlier application is prohibited. The disclosure for certain transactions accounted for as a sale is required to be presented for interim and annual periods beginning after December 15, 2014, and the disclosure for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The disclosures are not required to be presented for comparative periods before the effective date. This Update did not have a significant impact on the Company’s financial statements. |
Extraordinary and Unusual Items | In January 2015, the FASB issued ASU 2015-01, Income Statement –Extraordinary and Unusual Items, as part of its initiative to reduce complexity in accounting standards. This Update eliminates from GAAP the concept of extraordinary items. The amendments in this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. This Update is not expected to have a significant impact on the Company’s financial statements. |
Intangible | In April 2015, the FASB issued ASU 2015-05, Intangible – Goodwill and Other Internal Use Software (Topic 350-40), as part of its initiative to reduce complexity in accounting standards. This guidance will help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement. The amendments in this Update provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. For public business entities, the Board decided that the amendments will be effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. For all other entities, the amendments will be effective for annual periods beginning after December 15, 2015, and interim periods in annual periods beginning after December 15, 2016. Early adoption is permitted for all entities. This Update is not expected to have a significant impact on the Company’s financial statements. |
Securities_Tables
Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Summary of Securities Available-for-Sale and Restricted Stock | Securities consist of the following at March 31, 2015 and December 31, 2014: | ||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Gross | Gross | Fair value | |||||||||||||||||||||
cost | unrealized | unrealized | |||||||||||||||||||||||
gains | losses | ||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
U.S. Treasury security | $ | 1,003 | $ | 2 | $ | — | $ | 1,005 | |||||||||||||||||
U.S. Government agencies | 28,411 | 54 | 40 | 28,425 | |||||||||||||||||||||
Mortgage-backed securities of government agencies | 47,543 | 1,221 | 12 | 48,752 | |||||||||||||||||||||
Other mortgage-backed securities | 131 | 2 | — | 133 | |||||||||||||||||||||
Asset-backed securities of government agencies | 2,568 | 12 | 6 | 2,574 | |||||||||||||||||||||
State and political subdivisions | 20,180 | 440 | 58 | 20,562 | |||||||||||||||||||||
Corporate bonds | 5,004 | 58 | 1 | 5,061 | |||||||||||||||||||||
Equity securities | 54 | 9 | — | 63 | |||||||||||||||||||||
Total available-for-sale | 104,894 | 1,798 | 117 | 106,575 | |||||||||||||||||||||
Held-to-maturity securities | |||||||||||||||||||||||||
U.S. Government agencies | 13,360 | 592 | — | 13,952 | |||||||||||||||||||||
Mortgage-backed securities of government agencies | 21,086 | 532 | 12 | 21,606 | |||||||||||||||||||||
Total held-to-maturity | 34,446 | 1,124 | 12 | 35,558 | |||||||||||||||||||||
Restricted stock | 4,614 | — | — | 4,614 | |||||||||||||||||||||
Total securities | $ | 143,954 | $ | 2,922 | $ | 129 | $ | 146,747 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
U.S. Treasury security | $ | 1,004 | $ | — | $ | 4 | $ | 1,000 | |||||||||||||||||
U.S. Government agencies | 25,228 | 6 | 155 | 25,079 | |||||||||||||||||||||
Mortgage-backed securities of government agencies | 47,696 | 730 | 79 | 48,347 | |||||||||||||||||||||
Other mortgage-backed securities | 139 | 2 | — | 141 | |||||||||||||||||||||
Asset-backed securities of government agencies | 2,606 | 3 | 5 | 2,604 | |||||||||||||||||||||
State and political subdivisions | 17,878 | 433 | 44 | 18,267 | |||||||||||||||||||||
Corporate bonds | 4,503 | 40 | 1 | 4,542 | |||||||||||||||||||||
Equity securities | 106 | 22 | — | 128 | |||||||||||||||||||||
Total available-for-sale | 99,160 | 1,236 | 288 | 100,108 | |||||||||||||||||||||
Held-to-maturity securities | |||||||||||||||||||||||||
U.S. Government agencies | 16,343 | 294 | 2 | 16,635 | |||||||||||||||||||||
Mortgage-backed securities of government agencies | 21,973 | 398 | 56 | 22,315 | |||||||||||||||||||||
Total held-to-maturity | 38,316 | 692 | 58 | 38,950 | |||||||||||||||||||||
Restricted stock | 4,614 | — | — | 4,614 | |||||||||||||||||||||
Total securities | $ | 142,090 | $ | 1,928 | $ | 346 | $ | 143,672 | |||||||||||||||||
Summary of Amortized Cost and Fair Value of Debt Securities | The amortized cost and fair value of debt securities at March 31, 2015, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Fair value | |||||||||||||||||||||||
cost | |||||||||||||||||||||||||
Available-for-sale: | |||||||||||||||||||||||||
Due in one year or less | $ | 4,618 | $ | 4,643 | |||||||||||||||||||||
Due after one through five years | 21,954 | 22,196 | |||||||||||||||||||||||
Due after five through ten years | 26,055 | 26,290 | |||||||||||||||||||||||
Due after ten years | 52,213 | 53,383 | |||||||||||||||||||||||
Total debt securities available-for-sale | $ | 104,840 | $ | 106,512 | |||||||||||||||||||||
Held-to-maturity: | |||||||||||||||||||||||||
Due in one year or less | $ | — | $ | — | |||||||||||||||||||||
Due after one through five years | — | — | |||||||||||||||||||||||
Due after five through ten years | 5,702 | 5,973 | |||||||||||||||||||||||
Due after ten years | 28,744 | 29,585 | |||||||||||||||||||||||
Total debt securities held-to-maturity | $ | 34,446 | $ | 35,558 | |||||||||||||||||||||
Summary of Proceeds and Gains and Losses from Sales of Available-for-Sale Securities | The following table shows the proceeds from sales of available-for-sale securities and the gross realized gains and losses on the sales of those securities that have been included in earnings as a result of the sales. | ||||||||||||||||||||||||
Three months ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | |||||||||||||||||||||||
Proceeds | $ | 88 | $ | — | |||||||||||||||||||||
Realized gains | 35 | — | |||||||||||||||||||||||
Realized losses | — | — | |||||||||||||||||||||||
Net securities gains | $ | 35 | $ | — | |||||||||||||||||||||
Summary of Gross Unrealized Losses and Fair Value of Available for Sale Securities | The following table presents gross unrealized losses and fair value of securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2015 and December 31, 2014: | ||||||||||||||||||||||||
Securities in a continuous unrealized loss position | |||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||
(Dollars in thousands) | Gross | Fair | Gross | Fair | Gross | Fair | |||||||||||||||||||
unrealized | value | unrealized | value | unrealized | value | ||||||||||||||||||||
losses | losses | losses | |||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
U.S. Government agencies | $ | 2 | $ | 3,193 | $ | 38 | $ | 5,962 | $ | 40 | $ | 9,155 | |||||||||||||
Mortgage-backed securities of government agencies | 12 | 1,322 | — | — | 12 | 1,322 | |||||||||||||||||||
Asset-backed securities of government agencies | 6 | 993 | — | — | 6 | 993 | |||||||||||||||||||
State and political subdivisions | 47 | 3,017 | 11 | 686 | 58 | 3,703 | |||||||||||||||||||
Corporate bonds | 1 | 499 | — | — | 1 | 499 | |||||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||
Mortgage-backed securities of government agencies | 12 | 3,228 | — | — | 12 | 3,228 | |||||||||||||||||||
Total temporarily impaired securities | $ | 80 | $ | 12,252 | $ | 49 | $ | 6,648 | $ | 129 | $ | 18,900 | |||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Available-for-sale | |||||||||||||||||||||||||
U.S. Treasury security | $ | 4 | $ | 1,000 | $ | — | $ | — | $ | 4 | $ | 1,000 | |||||||||||||
U.S. Government agencies | 12 | 5,188 | 143 | 5,856 | 155 | 11,044 | |||||||||||||||||||
Mortgage-backed securities of government agencies | 40 | 6,348 | 39 | 4,939 | 79 | 11,287 | |||||||||||||||||||
Asset-backed securities of government agencies | 5 | 1,603 | — | — | 5 | 1,603 | |||||||||||||||||||
State and political subdivisions | 13 | 1,300 | 31 | 1,416 | 44 | 2,716 | |||||||||||||||||||
Corporate bonds | 1 | 499 | — | — | 1 | 499 | |||||||||||||||||||
Held-to-maturity | |||||||||||||||||||||||||
U.S. Government agencies | 2 | 998 | — | — | 2 | 998 | |||||||||||||||||||
Mortgage-backed securities of government agencies | — | — | 56 | 9,265 | 56 | 9,265 | |||||||||||||||||||
Total temporarily impaired securities | $ | 77 | $ | 16,936 | $ | 269 | $ | 21,476 | $ | 346 | $ | 38,412 | |||||||||||||
Loans_Tables
Loans (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||
Summary of Loans | Loans consist of the following: | ||||||||||||||||||||||||||||
(Dollars in thousands) | March 31, 2015 | December 31, 2014 | |||||||||||||||||||||||||||
Commercial | $ | 131,315 | $ | 123,813 | |||||||||||||||||||||||||
Commercial real estate | 142,742 | 139,695 | |||||||||||||||||||||||||||
Residential real estate | 122,451 | 121,684 | |||||||||||||||||||||||||||
Construction & land development | 16,110 | 17,446 | |||||||||||||||||||||||||||
Consumer | 7,875 | 7,913 | |||||||||||||||||||||||||||
Total loans before deferred costs | 420,493 | 410,551 | |||||||||||||||||||||||||||
Deferred loan costs | 368 | 352 | |||||||||||||||||||||||||||
Total Loans | $ | 420,861 | $ | 410,903 | |||||||||||||||||||||||||
Schedule of Allowances for Loan Losses by Portfolio Segment | The following table details activity in the allowance for loan losses by portfolio segment for the three month periods ended March 31, 2015 and 2014. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. The increase in the provision for loan losses related to commercial and industrial loans was primarily due to the increase in loan balances. The increase in the provision related to commercial real estate loans was affected by an increase in loan balances and charge-offs that occurred during the three months ended March 31, 2015. The increase in the provision related to consumer loans was due to charge-offs of loans in that category. | ||||||||||||||||||||||||||||
The increase in the provision for possible loan losses during the three months ended March 31, 2014 related to commercial real estate loans was affected by an increase in the historical loss rate of this loan type, as well as a charge-off that occurred during the first quarter of 2014. The provision for possible loan losses related to residential real estate decreased during the first quarter of 2014 as a result of a decrease in the historical loss rate within this category. | |||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Residential | Construction | Consumer | Unallocated | Total | ||||||||||||||||||||||
Real Estate | Real Estate | & Land | |||||||||||||||||||||||||||
Development | |||||||||||||||||||||||||||||
Three months ended March 31, 2015 | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,289 | $ | 1,524 | $ | 1,039 | $ | 142 | $ | 60 | $ | 327 | $ | 4,381 | |||||||||||||||
Provision for possible loan losses | 101 | 64 | 8 | (9 | ) | 36 | (6 | ) | 194 | ||||||||||||||||||||
Charge-offs | (2 | ) | (24 | ) | (53 | ) | — | (30 | ) | (109 | ) | ||||||||||||||||||
Recoveries | 6 | 10 | 9 | — | 3 | 28 | |||||||||||||||||||||||
Net charge-offs | 4 | (14 | ) | (44 | ) | — | (27 | ) | (81 | ) | |||||||||||||||||||
Ending balance | $ | 1,394 | $ | 1,574 | $ | 1,003 | $ | 133 | $ | 69 | $ | 321 | $ | 4,494 | |||||||||||||||
Three months ended March 31, 2014 | |||||||||||||||||||||||||||||
Beginning balance | $ | 1,219 | $ | 1,872 | $ | 1,205 | $ | 178 | $ | 91 | $ | 520 | $ | 5,085 | |||||||||||||||
Provision for possible loan losses | (72 | ) | 517 | (151 | ) | (33 | ) | (12 | ) | (64 | ) | 185 | |||||||||||||||||
Charge-offs | (8 | ) | (197 | ) | (4 | ) | — | (8 | ) | (217 | ) | ||||||||||||||||||
Recoveries | 2 | — | 4 | — | 6 | 12 | |||||||||||||||||||||||
Net charge-offs | (6 | ) | (197 | ) | — | — | (2 | ) | (205 | ) | |||||||||||||||||||
Ending balance | $ | 1,141 | $ | 2,192 | $ | 1,054 | $ | 145 | $ | 77 | $ | 456 | $ | 5,065 | |||||||||||||||
Allowances for Loan Losses and Ending Balances by Portfolio Segment and Based on Impairment Method | The following table presents the balance in the allowance for loan losses and the ending loan balances by portfolio segment and based on the impairment method as of March 31, 2015 and December 31, 2014: | ||||||||||||||||||||||||||||
(Dollars in thousands) | Commercial | Commercial | Residential | Construction | Consumer | Unallocated | Total | ||||||||||||||||||||||
Real Estate | Real Estate | ||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 105 | $ | 38 | $ | — | $ | — | $ | — | $ | 143 | |||||||||||||||
Collectively evaluated for impairment | 1,394 | 1,469 | 965 | 133 | 69 | 321 | 4,351 | ||||||||||||||||||||||
Total ending allowance balance | $ | 1,394 | $ | 1,574 | $ | 1,003 | $ | 133 | $ | 69 | $ | 321 | $ | 4,494 | |||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 5,421 | $ | 1,644 | $ | 1,522 | $ | — | $ | — | $ | 8,587 | |||||||||||||||||
Loans collectively evaluated for impairment | 125,894 | 141,098 | 120,929 | 16,110 | 7,875 | 411,906 | |||||||||||||||||||||||
Total ending loans balance | $ | 131,315 | $ | 142,742 | $ | 122,451 | $ | 16,110 | $ | 7,875 | $ | 420,493 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | — | $ | 109 | $ | 75 | $ | — | $ | — | $ | — | $ | 184 | |||||||||||||||
Collectively evaluated for impairment | 1,289 | 1,415 | 964 | 142 | 60 | 327 | 4,197 | ||||||||||||||||||||||
Total ending allowance balance | $ | 1,289 | $ | 1,524 | $ | 1,039 | $ | 142 | $ | 60 | $ | 327 | $ | 4,381 | |||||||||||||||
Loans: | |||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 5,922 | $ | 1,679 | $ | 1,612 | $ | — | $ | — | $ | 9,213 | |||||||||||||||||
Loans collectively evaluated for impairment | 117,891 | 138,016 | 120,072 | 17,446 | 7,913 | 401,338 | |||||||||||||||||||||||
Total ending loans balance | $ | 123,813 | $ | 139,695 | $ | 121,684 | $ | 17,446 | $ | 7,913 | $ | 410,551 | |||||||||||||||||
Schedule of Impairment by Class of Loans | The following table presents loans individually evaluated for impairment by class of loans as of March 31, 2015 and December 31, 2014: | ||||||||||||||||||||||||||||
(Dollars in thousands) | Unpaid | Recorded | Recorded | Total | Related | ||||||||||||||||||||||||
Principal | Investment | Investment | Recorded | Allowance | |||||||||||||||||||||||||
Balance | with no | with | Investment | ||||||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | $ | 6,584 | $ | 5,416 | $ | 21 | $ | 5,437 | $ | — | |||||||||||||||||||
Commercial real estate | 1,829 | 1,011 | 632 | 1,643 | 105 | ||||||||||||||||||||||||
Residential real estate | 1,703 | 1,042 | 484 | 1,526 | 38 | ||||||||||||||||||||||||
Total impaired loans | $ | 10,116 | $ | 7,469 | $ | 1,137 | $ | 8,606 | $ | 143 | |||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | $ | 7,011 | $ | 5,889 | $ | 37 | $ | 5,926 | $ | — | |||||||||||||||||||
Commercial real estate | 1,836 | 950 | 728 | 1,678 | 109 | ||||||||||||||||||||||||
Residential real estate | 1,721 | 885 | 730 | 1,615 | 75 | ||||||||||||||||||||||||
Total impaired loans | $ | 10,568 | $ | 7,724 | $ | 1,495 | $ | 9,219 | $ | 184 | |||||||||||||||||||
Schedule of Average Recorded Investment in Impaired Loans and Related Interest Income Recognized | The following table presents the average recorded investment in impaired loans and related interest income recognized for the periods indicated. | ||||||||||||||||||||||||||||
Three months | |||||||||||||||||||||||||||||
ended March 31, | |||||||||||||||||||||||||||||
(Dollars in thousands) | 2015 | 2014 | |||||||||||||||||||||||||||
Average recorded investment: | |||||||||||||||||||||||||||||
Commercial | $ | 5,857 | $ | 6,156 | |||||||||||||||||||||||||
Commercial real estate | 1,704 | 3,697 | |||||||||||||||||||||||||||
Residential real estate | 1,618 | 1,884 | |||||||||||||||||||||||||||
Average recorded investment in impaired loans | $ | 9,179 | $ | 11,737 | |||||||||||||||||||||||||
Interest income recognized: | |||||||||||||||||||||||||||||
Commercial | $ | 51 | $ | 92 | |||||||||||||||||||||||||
Commercial real estate | 5 | 35 | |||||||||||||||||||||||||||
Residential real estate | 16 | 15 | |||||||||||||||||||||||||||
Interest income recognized on a cash basis on impaired loans | $ | 72 | $ | 142 | |||||||||||||||||||||||||
Schedule of Aging of Past Due and Nonaccrual Loans | The following table presents the aging of past due loans and nonaccrual loans as of March 31, 2015 and December 31, 2015 by class of loans: | ||||||||||||||||||||||||||||
(Dollars in thousands) | Current | 30 - 59 | 60 - 89 | 90 Days + | Non-Accrual | Total Past | Total | ||||||||||||||||||||||
Days Past | Days Past | Past Due | Due and | Loans | |||||||||||||||||||||||||
Due | Due | Non- | |||||||||||||||||||||||||||
Accrual | |||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | $ | 130,192 | $ | 97 | $ | — | $ | — | $ | 1,026 | $ | 1,123 | $ | 131,315 | |||||||||||||||
Commercial real estate | 140,886 | 62 | — | 132 | 1,662 | 1,856 | 142,742 | ||||||||||||||||||||||
Residential real estate | 120,974 | 635 | 3 | 155 | 684 | 1,477 | 122,451 | ||||||||||||||||||||||
Construction & land development | 16,110 | — | — | — | — | — | 16,110 | ||||||||||||||||||||||
Consumer | 7,778 | 65 | 6 | — | 26 | 97 | 7,875 | ||||||||||||||||||||||
Total Loans | $ | 415,940 | $ | 859 | $ | 9 | $ | 287 | $ | 3,398 | $ | 4,553 | $ | 420,493 | |||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | $ | 122,283 | $ | 362 | $ | 96 | $ | 1 | $ | 1,071 | $ | 1,530 | $ | 123,813 | |||||||||||||||
Commercial real estate | 137,683 | 174 | 104 | — | 1,734 | 2,012 | 139,695 | ||||||||||||||||||||||
Residential real estate | 120,025 | 424 | 92 | 280 | 863 | 1,659 | 121,684 | ||||||||||||||||||||||
Construction & land development | 17,431 | — | 15 | — | — | 15 | 17,446 | ||||||||||||||||||||||
Consumer | 7,798 | 73 | 42 | — | — | 115 | 7,913 | ||||||||||||||||||||||
Total Loans | $ | 405,220 | $ | 1,033 | $ | 349 | $ | 281 | $ | 3,668 | $ | 5,331 | $ | 410,551 | |||||||||||||||
Summary of Troubled Debt Restructurings | The following table presents loans restructured during the three month period ended March 31, 2015 and the three month period ended March 31, 2014. | ||||||||||||||||||||||||||||
(Dollars in thousands) | Number of | Pre- | Post- | ||||||||||||||||||||||||||
loans | Modification | Modification | |||||||||||||||||||||||||||
restructured | Recorded | Recorded | |||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
For the Three Months Ended March 31, 2015 | |||||||||||||||||||||||||||||
Residential Real Estate | 1 | $ | 29 | $ | 29 | ||||||||||||||||||||||||
Total Restructured Loans | 1 | $ | 29 | $ | 29 | ||||||||||||||||||||||||
For the Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||
Residential Real Estate | 1 | $ | 84 | $ | 84 | ||||||||||||||||||||||||
Total Restructured Loans | 1 | $ | 84 | $ | 84 | ||||||||||||||||||||||||
Summary of Loans by Credit Quality Indicator | Based on the most recent analysis performed, the risk category of loans by class is as follows as of March 31, 2015 and December 31, 2014: | ||||||||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Not Rated | Total | |||||||||||||||||||||||
Mention | |||||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | $ | 119,599 | $ | 4,303 | $ | 6,910 | $ | — | $ | 503 | $ | 131,315 | |||||||||||||||||
Commercial real estate | 133,505 | 4,841 | 3,489 | — | 907 | 142,742 | |||||||||||||||||||||||
Residential real estate | 207 | — | 38 | — | 122,206 | 122,451 | |||||||||||||||||||||||
Construction & land development | 11,940 | 1,279 | — | — | 2,891 | 16,110 | |||||||||||||||||||||||
Consumer | — | — | — | — | 7,875 | 7,875 | |||||||||||||||||||||||
Total | $ | 265,251 | $ | 10,423 | $ | 10,437 | $ | — | $ | 134,382 | $ | 420,493 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | $ | 112,467 | $ | 3,809 | $ | 6,690 | $ | — | $ | 847 | $ | 123,813 | |||||||||||||||||
Commercial real estate | 129,792 | 4,898 | 3,634 | — | 1,371 | 139,695 | |||||||||||||||||||||||
Residential real estate | 209 | — | 39 | — | 121,436 | 121,684 | |||||||||||||||||||||||
Construction & land development | 13,889 | 1,579 | — | — | 1,978 | 17,446 | |||||||||||||||||||||||
Consumer | — | — | — | — | 7,913 | 7,913 | |||||||||||||||||||||||
Total | $ | 256,357 | $ | 10,286 | $ | 10,363 | $ | — | $ | 133,545 | $ | 410,551 | |||||||||||||||||
Schedule of Loans Not Rated by Class of Loans | The following table presents loans that are not rated by class of loans as of March 31, 2015 and December 31, 2014. Nonperforming loans include loans past due 90 days or more and loans on nonaccrual of interest status. | ||||||||||||||||||||||||||||
(Dollars in thousands) | Performing | Non-Performing | Total | ||||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||||||
Commercial | $ | 503 | $ | — | $ | 503 | |||||||||||||||||||||||
Commercial real estate | 907 | — | 907 | ||||||||||||||||||||||||||
Residential real estate | 121,405 | 801 | 122,206 | ||||||||||||||||||||||||||
Construction & land development | 2,891 | — | 2,891 | ||||||||||||||||||||||||||
Consumer | 7,849 | 26 | 7,875 | ||||||||||||||||||||||||||
Total | $ | 133,555 | $ | 827 | $ | 134,382 | |||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
Commercial | $ | 847 | $ | — | $ | 847 | |||||||||||||||||||||||
Commercial real estate | 1,371 | — | 1,371 | ||||||||||||||||||||||||||
Residential real estate | 120,332 | 1,104 | 121,436 | ||||||||||||||||||||||||||
Construction & land development | 1,978 | — | 1,978 | ||||||||||||||||||||||||||
Consumer | 7,913 | — | 7,913 | ||||||||||||||||||||||||||
Total | $ | 132,441 | $ | 1,104 | $ | 133,545 | |||||||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Schedule of Fair Value of Assets Measured on Recurring Basis | The following table presents the assets reported on the Consolidated Balance Sheet at their fair value as of March 31, 2015 and December 31, 2014 by level within the fair value hierarchy. | ||||||||||||||||
(Dollars in thousands) | Level I | Level II | Level III | Total | |||||||||||||
March 31, 2015 | |||||||||||||||||
Assets: | |||||||||||||||||
Securities available-for-sale | |||||||||||||||||
U.S. Treasury security | $ | 1,005 | $ | — | $ | — | $ | 1,005 | |||||||||
U.S. Government agencies | — | 28,425 | — | 28,425 | |||||||||||||
Mortgage-backed securities of government agencies | — | 48,752 | — | 48,752 | |||||||||||||
Other mortgage-backed securities | — | 133 | — | 133 | |||||||||||||
Asset-backed securities of government agencies | — | 2,574 | — | 2,574 | |||||||||||||
State and political subdivisions | — | 20,562 | — | 20,562 | |||||||||||||
Corporate bonds | — | 5,061 | — | 5,061 | |||||||||||||
Total debt securities | 1,005 | 105,507 | — | 106,512 | |||||||||||||
Equity securities | 63 | — | — | 63 | |||||||||||||
Total available-for-sale securities | $ | 1,068 | $ | 105,507 | $ | — | $ | 106,575 | |||||||||
December 31, 2014 | |||||||||||||||||
Assets: | |||||||||||||||||
Securities available-for-sale | |||||||||||||||||
U.S. Treasury security | $ | 1,000 | $ | — | $ | — | $ | 1,000 | |||||||||
U.S. Government agencies | — | 25,079 | — | 25,079 | |||||||||||||
Mortgage-backed securities of government agencies | — | 48,347 | — | 48,347 | |||||||||||||
Other mortgage-backed securities | — | 141 | — | 141 | |||||||||||||
Asset-backed securities | |||||||||||||||||
of government agencies | — | 2,604 | — | 2,604 | |||||||||||||
State and political subdivisions | — | 18,267 | — | 18,267 | |||||||||||||
Corporate bonds | — | 4,542 | — | 4,542 | |||||||||||||
Total debt securities | 1,000 | 98,980 | — | 99,980 | |||||||||||||
Equity securities | 128 | — | — | 128 | |||||||||||||
Total available-for-sale securities | $ | 1,128 | $ | 98,980 | $ | — | $ | 100,108 | |||||||||
Schedule of Fair Value of Assets Measured on Nonrecurring Basis | The following table presents the assets measured on a nonrecurring basis on the Consolidated Balance Sheets at their fair value as of March 31, 2015 and December 31, 2014, by level within the fair value hierarchy. | ||||||||||||||||
(Dollars in thousands) | Level I | Level II | Level III | Total | |||||||||||||
March 31, 2015 | |||||||||||||||||
Assets measured on a nonrecurring basis: | |||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 8,444 | $ | 8,444 | |||||||||
31-Dec-14 | |||||||||||||||||
Assets measured on a nonrecurring basis: | |||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 9,029 | $ | 9,029 | |||||||||
Schedule of Quantitative Information of Assets Measured at Fair Value on Nonrecurring Basis | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level III inputs to determine fair value: | ||||||||||||||||
Quantitative Information about Level III Fair Value Measurements | |||||||||||||||||
Fair Value | Valuation | Unobservable | Range | ||||||||||||||
Estimate | Techniques | ||||||||||||||||
Input | (Weighted Average) | ||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
31-Mar-15 | |||||||||||||||||
Impaired loans | $ | 6,047 | Discounted cash flow | Remaining term Discount rate | 2 mos to 27 yrs (63 months) | ||||||||||||
3.1% to 9.8% (4.6%) | |||||||||||||||||
2,397 | Appraisal of collateral(1),(3) | Appraisal adjustments (2) Liquidation expense (2) | 0% to -35% (-26%) | ||||||||||||||
-10% (-10%) | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Impaired loans | $ | 6,539 | Discounted cash flow | Remaining term | 2 mos to 28 yrs / (62 mos) | ||||||||||||
Discount rate | 3.1% to 8.3% / (4.6%) | ||||||||||||||||
2,490 | Appraisal of collateral(1),(3) | Appraisal adjustments (2) Liquidation expense (2) | -20% to -25% (-24%) | ||||||||||||||
-10% | |||||||||||||||||
-1 | Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various inputs which are not identifiable. | ||||||||||||||||
-2 | Appraisals may be adjusted by management for qualitative factors such as estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. | ||||||||||||||||
-3 | Includes qualitative adjustments by management and estimated liquidation expenses. |
Fair_Values_of_Financial_Instr1
Fair Values of Financial Instruments (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Investments, All Other Investments [Abstract] | |||||||||||||||||||||
Schedule of Estimated Fair Values of Recognized Financial Instruments | The estimated fair values of recognized financial instruments as of March 31, 2015 and December 31, 2014 are as follows: | ||||||||||||||||||||
(Dollars in thousands) | Carrying | Level 1 | Level II | Level III | Total Fair | ||||||||||||||||
Value | Value | ||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 35,632 | $ | 35,632 | $ | — | $ | — | $ | 35,632 | |||||||||||
Securities available-for-sale | 106,575 | 1,068 | 105,507 | — | 106,575 | ||||||||||||||||
Securities held-to-maturity | 34,446 | — | 35,558 | — | 35,558 | ||||||||||||||||
Restricted stock | 4,614 | 4,614 | — | — | 4,614 | ||||||||||||||||
Loans held for sale | 299 | 299 | — | — | 299 | ||||||||||||||||
Net loans | 416,367 | — | — | 421,853 | 421,853 | ||||||||||||||||
Bank-owned life insurance | 9,881 | 9,881 | — | — | 9,881 | ||||||||||||||||
Accrued interest receivable | 1,625 | 1,625 | — | — | 1,625 | ||||||||||||||||
Mortgage servicing rights | 222 | — | — | 222 | 222 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 497,333 | $ | 370,962 | $ | — | $ | 127,054 | $ | 498,016 | |||||||||||
Short-term borrowings | 52,133 | 52,133 | — | — | 52,133 | ||||||||||||||||
Other borrowings | 14,788 | — | — | 15,036 | 15,036 | ||||||||||||||||
Accrued interest payable | 82 | 82 | — | — | 82 | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Financial assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 43,923 | $ | 43,923 | $ | — | $ | — | $ | 43,923 | |||||||||||
Securities available-for-sale | 100,108 | 1,128 | 98,980 | — | 100,108 | ||||||||||||||||
Securities held-to-maturity | 38,316 | — | 38,950 | — | 38,950 | ||||||||||||||||
Restricted stock | 4,614 | 4,614 | — | — | 4,614 | ||||||||||||||||
Loans held for sale | 75 | 75 | — | — | 75 | ||||||||||||||||
Net loans | 406,522 | — | — | 411,168 | 411,168 | ||||||||||||||||
Bank-owned life insurance | 9,815 | 9,815 | — | — | 9,815 | ||||||||||||||||
Accrued interest receivable | 1,329 | 1,329 | — | — | 1,329 | ||||||||||||||||
Mortgage servicing rights | 222 | — | — | 222 | 222 | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | $ | 500,075 | $ | 372,312 | $ | — | $ | 128,445 | $ | 500,757 | |||||||||||
Short-term borrowings | 46,627 | 46,627 | — | — | 46,627 | ||||||||||||||||
Other borrowings | 14,953 | — | — | 15,348 | 15,348 | ||||||||||||||||
Accrued interest payable | 84 | 84 | — | — | 84 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended | ||||||||||||||
Mar. 31, 2015 | |||||||||||||||
Equity [Abstract] | |||||||||||||||
Schedule of Changes in Accumulated Other Comprehensive (Loss) Income by Component Net of Tax | The following table presents the changes in accumulated other comprehensive income by component net of tax for the three month periods ended March 31, 2015 and 2014: | ||||||||||||||
(Dollars in thousands) | Pretax | Tax | After-tax | Affected Line | |||||||||||
(Expense) | Item in the | ||||||||||||||
Benefit | Consolidated | ||||||||||||||
Statements of | |||||||||||||||
Income | |||||||||||||||
Three months ended March 31, 2015 | |||||||||||||||
Balance as of December 31, 2014 | $ | (427 | ) | $ | 145 | $ | (282 | ) | |||||||
Unrealized holding gain on available-for-sale securities arising during the period | 768 | (261 | ) | 507 | |||||||||||
Reclassify gain included in income | (35 | ) | 12 | (23 | ) | (a,b) | |||||||||
Amortization of held-to-maturity discount resulting from transfer | 54 | (18 | ) | 36 | (c) | ||||||||||
Total other comprehensive income | 787 | (267 | ) | 520 | |||||||||||
Balance as of March 31, 2015 | $ | 360 | $ | (122 | ) | $ | 238 | ||||||||
Three months ended March 31, 2014 | |||||||||||||||
Balance as of December 31, 2013 | $ | (2,207 | ) | $ | 751 | $ | (1,456 | ) | |||||||
Unrealized holding gain on available-for-sale securities arising during the period | 774 | (263 | ) | 511 | |||||||||||
Reclassify gain included in income | — | — | — | (a,b) | |||||||||||
Amortization of held-to-maturity discount resulting from transfer | 52 | (18 | ) | 34 | (c) | ||||||||||
Total other comprehensive income | 826 | (281 | ) | 545 | |||||||||||
Balance as of March 31, 2014 | $ | (1,381 | ) | $ | 470 | $ | (911 | ) | |||||||
(a) | Securities gain, net | ||||||||||||||
(b) | Federal Income Tax Provision | ||||||||||||||
(c) | There was no income statement effect from the transfer of securities to held-to-maturity. |
Securities_Summary_of_Securiti
Securities - Summary of Securities Available-for-Sale and Restricted Stock (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | $104,894 | $99,160 |
Gross Unrealized Gains, Available-for-sale | 1,798 | 1,236 |
Gross Unrealized Losses, Available-for-sale | 117 | 288 |
Fair Value, Available-for-sale | 106,575 | 100,108 |
Amortized Cost, Held to maturity | 34,446 | 38,316 |
Gross Unrealized Gains, Held to maturity | 1,124 | 692 |
Gross Unrealized Losses, Held to maturity | 12 | 58 |
Fair Value, Held to maturity | 35,558 | 38,950 |
Amortized Cost | 143,954 | 142,090 |
Gross Unrealized Gains | 2,922 | 1,928 |
Gross Unrealized Losses | 129 | 346 |
Fair Value | 146,747 | 143,672 |
U.S. Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 28,411 | 25,228 |
Gross Unrealized Gains, Available-for-sale | 54 | 6 |
Gross Unrealized Losses, Available-for-sale | 40 | 155 |
Fair Value, Available-for-sale | 28,425 | 25,079 |
Amortized Cost, Held to maturity | 13,360 | 16,343 |
Gross Unrealized Gains, Held to maturity | 592 | 294 |
Gross Unrealized Losses, Held to maturity | 2 | |
Fair Value, Held to maturity | 13,952 | 16,635 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 47,543 | 47,696 |
Gross Unrealized Gains, Available-for-sale | 1,221 | 730 |
Gross Unrealized Losses, Available-for-sale | 12 | 79 |
Fair Value, Available-for-sale | 48,752 | 48,347 |
Amortized Cost, Held to maturity | 21,086 | 21,973 |
Gross Unrealized Gains, Held to maturity | 532 | 398 |
Gross Unrealized Losses, Held to maturity | 12 | 56 |
Fair Value, Held to maturity | 21,606 | 22,315 |
U.S. Treasury Security [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 1,003 | 1,004 |
Gross Unrealized Gains, Available-for-sale | 2 | |
Gross Unrealized Losses, Available-for-sale | 4 | |
Fair Value, Available-for-sale | 1,005 | 1,000 |
Other Mortgage-Backed Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 131 | 139 |
Gross Unrealized Gains, Available-for-sale | 2 | 2 |
Fair Value, Available-for-sale | 133 | 141 |
Asset-Backed Securities of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 2,568 | 2,606 |
Gross Unrealized Gains, Available-for-sale | 12 | 3 |
Gross Unrealized Losses, Available-for-sale | 6 | 5 |
Fair Value, Available-for-sale | 2,574 | 2,604 |
State and Political Subdivisions [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 20,180 | 17,878 |
Gross Unrealized Gains, Available-for-sale | 440 | 433 |
Gross Unrealized Losses, Available-for-sale | 58 | 44 |
Fair Value, Available-for-sale | 20,562 | 18,267 |
Corporate Bonds [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 5,004 | 4,503 |
Gross Unrealized Gains, Available-for-sale | 58 | 40 |
Gross Unrealized Losses, Available-for-sale | 1 | 1 |
Fair Value, Available-for-sale | 5,061 | 4,542 |
Equity Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 54 | 106 |
Gross Unrealized Gains, Available-for-sale | 9 | 22 |
Fair Value, Available-for-sale | 63 | 128 |
Restricted Stock [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost | 4,614 | 4,614 |
Fair Value | $4,614 | $4,614 |
Securities_Summary_of_Amortize
Securities - Summary of Amortized Cost and Fair Value of Debt Securities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Available-for-sale: | ||
Due in one year or less, Amortized Cost | $4,618 | |
Due after one through five years, Amortized Cost | 21,954 | |
Due after five through ten years, Amortized Cost | 26,055 | |
Due after ten years, Amortized Cost | 52,213 | |
Total debt securities available-for-sale, Amortized Cost | 104,840 | |
Due in one year or less, Fair Value | 4,643 | |
Due after one through five years, Fair Value | 22,196 | |
Due after five through ten years, Fair Value | 26,290 | |
Due after ten years, Fair Value | 53,383 | |
Total debt securities available-for-sale, Fair Value | 106,512 | |
Held-to-maturity: | ||
Due in one year or less, Amortized Cost | 0 | |
Due after one through five years, Amortized Cost | 0 | |
Due after five through ten years, Amortized Cost | 5,702 | |
Due after ten years, Amortized cost | 28,744 | |
Amortized Cost, Held to maturity | 34,446 | 38,316 |
Due in one year or less, Fair Value | 0 | |
Due after one through five years, Fair Value | 0 | |
Due after five through ten years, Fair Value | 5,973 | |
Due after ten years, Fair Value | 29,585 | |
Total debt securities held-to-maturity, Fair Value | $35,558 | $38,950 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Investments, Debt and Equity Securities [Abstract] | ||
Carrying value of pledged securities | $94,700,000 | $88,400,000 |
Restricted stock investment in FHLB stock | 4,100,000 | 4,100,000 |
Federal Reserve Bank stock | 471,000 | 471,000 |
Income tax provision applicable to realized gains | $12,000 |
Securities_Summary_of_Proceeds
Securities - Summary of Proceeds and Gains and Losses from Sales of Available-for-Sale Securities (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Investments, Debt and Equity Securities [Abstract] | ||
Proceeds | $88 | $0 |
Realized gains | 35 | 0 |
Realized losses | 0 | |
Net securities gains | $35 | $0 |
Securities_Summary_of_Gross_Un
Securities - Summary of Gross Unrealized Losses and Fair Value of Available for Sale Securities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Held-to-maturity, Gross Unrealized Losses, Total | $12 | $58 |
Gross Unrealized Losses, Less Than 12 Months | 80 | 77 |
Fair Value, Less Than 12 Months | 12,252 | 16,936 |
Gross Unrealized Losses, 12 Months Or More | 49 | 269 |
Fair Value, 12 Months Or More | 6,648 | 21,476 |
Gross Unrealized Losses, Total | 129 | 346 |
Fair Value, Total | 18,900 | 38,412 |
U.S. Treasury Security [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 4 | |
Fair Value, Less Than 12 Months | 1,000 | |
Gross Unrealized Losses, Total | 4 | |
Fair Value, Total | 1,000 | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Held-to-maturity, Gross Unrealized Losses, Less Than 12 Months | 2 | |
Held-to-maturity, Fair Value, Less Than 12 Months | 998 | |
Held-to-maturity, Gross Unrealized Losses, Total | 2 | |
Held-to-maturity, Fair Value, Total | 998 | |
Gross Unrealized Losses, Less Than 12 Months | 2 | 12 |
Fair Value, Less Than 12 Months | 3,193 | 5,188 |
Gross Unrealized Losses, 12 Months Or More | 38 | 143 |
Fair Value, 12 Months Or More | 5,962 | 5,856 |
Gross Unrealized Losses, Total | 40 | 155 |
Fair Value, Total | 9,155 | 11,044 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Held-to-maturity, Gross Unrealized Losses, Less Than 12 Months | 12 | |
Held-to-maturity, Fair Value, Less Than 12 Months | 3,228 | |
Held-to-maturity, Gross Unrealized Losses, 12 Months Or More | 56 | |
Held-to-maturity, Fair Value, 12 Months Or More | 9,265 | |
Held-to-maturity, Gross Unrealized Losses, Total | 12 | 56 |
Held-to-maturity, Fair Value, Total | 3,228 | 9,265 |
Gross Unrealized Losses, Less Than 12 Months | 12 | 40 |
Fair Value, Less Than 12 Months | 1,322 | 6,348 |
Gross Unrealized Losses, 12 Months Or More | 39 | |
Fair Value, 12 Months Or More | 4,939 | |
Gross Unrealized Losses, Total | 12 | 79 |
Fair Value, Total | 1,322 | 11,287 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 47 | 13 |
Fair Value, Less Than 12 Months | 3,017 | 1,300 |
Gross Unrealized Losses, 12 Months Or More | 11 | 31 |
Fair Value, 12 Months Or More | 686 | 1,416 |
Gross Unrealized Losses, Total | 58 | 44 |
Fair Value, Total | 3,703 | 2,716 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 1 | 1 |
Fair Value, Less Than 12 Months | 499 | 499 |
Gross Unrealized Losses, Total | 1 | 1 |
Fair Value, Total | 499 | 499 |
Asset-Backed Securities of Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 6 | 5 |
Fair Value, Less Than 12 Months | 993 | 1,603 |
Gross Unrealized Losses, Total | 6 | 5 |
Fair Value, Total | $993 | $1,603 |
Loans_Summary_of_Loans_Detail
Loans - Summary of Loans (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | $420,493 | $410,551 |
Deferred loan costs | 368 | 352 |
Total loans | 420,861 | 410,903 |
Construction & Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 16,110 | 17,446 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 131,315 | 123,813 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 142,742 | 139,695 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 122,451 | 121,684 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | $7,875 | $7,913 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of outstanding principal balances of commercial real estate loans secured by owner-occupied properties | 78.00% | 77.00% | |
Loans serviced for others | $73,400,000 | $70,600,000 | |
Concentrations of loans related to a single industry | 0 | 0 | |
Loans classified as troubled debt restructurings | 6,300,000 | 6,800,000 | |
Reserves allocated to customers whose loan terms are modified in troubled debt restructurings | 55,000 | 88,000 | |
Loans payable in nonaccrual of interest status | 396,000 | ||
Foreclosed real estate | 0 | 0 | |
Consumer mortgage loans in process of foreclosure amount | 199,000 | 149,000 | |
Loans restructured, subsequently defaulted | 0 | 0 | |
Outstanding balance of commercial loans classified under credit risk, minimum amount | 300,000 | ||
Loans listed as not rated under risk category, maximum amount | 300,000 | ||
Non-performing loans past due days and greater | 90 days | ||
Performing [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans classified as troubled debt restructurings | $5,900,000 |
Loans_Schedule_of_Allowances_f
Loans - Schedule of Allowances for Loan Losses by Portfolio Segment (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | $4,381 | $5,085 |
Provision for possible loan losses | 194 | 185 |
Charge-offs | -109 | -217 |
Recoveries | 28 | 12 |
Net charge-offs | -81 | -205 |
Ending balance | 4,494 | 5,065 |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 1,289 | 1,219 |
Provision for possible loan losses | 101 | -72 |
Charge-offs | -2 | -8 |
Recoveries | 6 | 2 |
Net charge-offs | 4 | -6 |
Ending balance | 1,394 | 1,141 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 1,524 | 1,872 |
Provision for possible loan losses | 64 | 517 |
Charge-offs | -24 | -197 |
Recoveries | 10 | |
Net charge-offs | -14 | -197 |
Ending balance | 1,574 | 2,192 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 1,039 | 1,205 |
Provision for possible loan losses | 8 | -151 |
Charge-offs | -53 | -4 |
Recoveries | 9 | 4 |
Net charge-offs | -44 | |
Ending balance | 1,003 | 1,054 |
Construction & Land Development [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 142 | 178 |
Provision for possible loan losses | -9 | -33 |
Ending balance | 133 | 145 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 60 | 91 |
Provision for possible loan losses | 36 | -12 |
Charge-offs | -30 | -8 |
Recoveries | 3 | 6 |
Net charge-offs | -27 | -2 |
Ending balance | 69 | 77 |
Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning balance | 327 | 520 |
Provision for possible loan losses | -6 | -64 |
Ending balance | $321 | $456 |
Loans_Allowances_for_Loan_Loss
Loans - Allowances for Loan Losses and Ending Balances by Portfolio Segment and Based on Impairment Method (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | $143 | $184 | ||
Collectively evaluated for impairment | 4,351 | 4,197 | ||
Total ending allowance balance | 4,494 | 4,381 | 5,065 | 5,085 |
Loans: | ||||
Loans individually evaluated for impairment | 8,587 | 9,213 | ||
Loans collectively evaluated for impairment | 411,906 | 401,338 | ||
Total ending loans balance | 420,493 | 410,551 | ||
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Collectively evaluated for impairment | 1,394 | 1,289 | ||
Total ending allowance balance | 1,394 | 1,289 | 1,141 | 1,219 |
Loans: | ||||
Loans individually evaluated for impairment | 5,421 | 5,922 | ||
Loans collectively evaluated for impairment | 125,894 | 117,891 | ||
Total ending loans balance | 131,315 | 123,813 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 105 | 109 | ||
Collectively evaluated for impairment | 1,469 | 1,415 | ||
Total ending allowance balance | 1,574 | 1,524 | 2,192 | 1,872 |
Loans: | ||||
Loans individually evaluated for impairment | 1,644 | 1,679 | ||
Loans collectively evaluated for impairment | 141,098 | 138,016 | ||
Total ending loans balance | 142,742 | 139,695 | ||
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 38 | 75 | ||
Collectively evaluated for impairment | 965 | 964 | ||
Total ending allowance balance | 1,003 | 1,039 | 1,054 | 1,205 |
Loans: | ||||
Loans individually evaluated for impairment | 1,522 | 1,612 | ||
Loans collectively evaluated for impairment | 120,929 | 120,072 | ||
Total ending loans balance | 122,451 | 121,684 | ||
Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Collectively evaluated for impairment | 133 | 142 | ||
Total ending allowance balance | 133 | 142 | ||
Loans: | ||||
Loans collectively evaluated for impairment | 16,110 | 17,446 | ||
Total ending loans balance | 16,110 | 17,446 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Collectively evaluated for impairment | 69 | 60 | ||
Total ending allowance balance | 69 | 60 | 77 | 91 |
Loans: | ||||
Loans collectively evaluated for impairment | 7,875 | 7,913 | ||
Total ending loans balance | 7,875 | 7,913 | ||
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Collectively evaluated for impairment | 321 | 327 | ||
Total ending allowance balance | $321 | $327 | $456 | $520 |
Loans_Schedule_of_Impairment_b
Loans - Schedule of Impairment by Class of Loans (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $10,116 | $10,568 |
Recorded Investment with no Allowance | 7,469 | 7,724 |
Recorded Investment with Allowance | 1,137 | 1,495 |
Total Recorded Investment | 8,606 | 9,219 |
Related Allowance | 143 | 184 |
Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 6,584 | 7,011 |
Recorded Investment with no Allowance | 5,416 | 5,889 |
Recorded Investment with Allowance | 21 | 37 |
Total Recorded Investment | 5,437 | 5,926 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 1,829 | 1,836 |
Recorded Investment with no Allowance | 1,011 | 950 |
Recorded Investment with Allowance | 632 | 728 |
Total Recorded Investment | 1,643 | 1,678 |
Related Allowance | 105 | 109 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 1,703 | 1,721 |
Recorded Investment with no Allowance | 1,042 | 885 |
Recorded Investment with Allowance | 484 | 730 |
Total Recorded Investment | 1,526 | 1,615 |
Related Allowance | $38 | $75 |
Loans_Schedule_of_Average_Reco
Loans - Schedule of Average Recorded Investment in Impaired Loans and Related Interest Income Recognized (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Average recorded investment: | ||
Average recorded investment in impaired loans | $9,179 | $11,737 |
Interest income recognized: | ||
Interest income recognized on a cash basis on impaired loans | 72 | 142 |
Commercial [Member] | ||
Average recorded investment: | ||
Average recorded investment in impaired loans | 5,857 | 6,156 |
Interest income recognized: | ||
Interest income recognized on a cash basis on impaired loans | 51 | 92 |
Commercial Real Estate [Member] | ||
Average recorded investment: | ||
Average recorded investment in impaired loans | 1,704 | 3,697 |
Interest income recognized: | ||
Interest income recognized on a cash basis on impaired loans | 5 | 35 |
Residential Real Estate [Member] | ||
Average recorded investment: | ||
Average recorded investment in impaired loans | 1,618 | 1,884 |
Interest income recognized: | ||
Interest income recognized on a cash basis on impaired loans | $16 | $15 |
Loans_Schedule_of_Aging_of_Pas
Loans - Schedule of Aging of Past Due and Nonaccrual Loans (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $415,940 | $405,220 |
30 - 59 Days Past Due | 859 | 1,033 |
60 - 89 Days Past Due | 9 | 349 |
90 Days + Past Due | 287 | 281 |
Non-Accrual | 3,398 | 3,668 |
Total Past Due and Non-Accrual | 4,553 | 5,331 |
Total ending loans balance | 420,493 | 410,551 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 16,110 | 17,431 |
60 - 89 Days Past Due | 15 | |
Total Past Due and Non-Accrual | 15 | |
Total ending loans balance | 16,110 | 17,446 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 130,192 | 122,283 |
30 - 59 Days Past Due | 97 | 362 |
60 - 89 Days Past Due | 96 | |
90 Days + Past Due | 1 | |
Non-Accrual | 1,026 | 1,071 |
Total Past Due and Non-Accrual | 1,123 | 1,530 |
Total ending loans balance | 131,315 | 123,813 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 140,886 | 137,683 |
30 - 59 Days Past Due | 62 | 174 |
60 - 89 Days Past Due | 104 | |
90 Days + Past Due | 132 | |
Non-Accrual | 1,662 | 1,734 |
Total Past Due and Non-Accrual | 1,856 | 2,012 |
Total ending loans balance | 142,742 | 139,695 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 120,974 | 120,025 |
30 - 59 Days Past Due | 635 | 424 |
60 - 89 Days Past Due | 3 | 92 |
90 Days + Past Due | 155 | 280 |
Non-Accrual | 684 | 863 |
Total Past Due and Non-Accrual | 1,477 | 1,659 |
Total ending loans balance | 122,451 | 121,684 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 7,778 | 7,798 |
30 - 59 Days Past Due | 65 | 73 |
60 - 89 Days Past Due | 6 | 42 |
Non-Accrual | 26 | |
Total Past Due and Non-Accrual | 97 | 115 |
Total ending loans balance | $7,875 | $7,913 |
Loans_Summary_of_Troubled_Debt
Loans - Summary of Troubled Debt Restructurings (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of loans restructured | 1 | 1 |
Pre-Modification Recorded Investment | $29 | $84 |
Post-Modification Recorded Investment | 29 | 84 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans restructured | 1 | 1 |
Pre-Modification Recorded Investment | 29 | 84 |
Post-Modification Recorded Investment | $29 | $84 |
Loans_Summary_of_Loans_by_Cred
Loans - Summary of Loans by Credit Quality Indicator (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $420,493 | $410,551 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 16,110 | 17,446 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 131,315 | 123,813 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 142,742 | 139,695 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 122,451 | 121,684 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,875 | 7,913 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 265,251 | 256,357 |
Pass [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 11,940 | 13,889 |
Pass [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 119,599 | 112,467 |
Pass [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 133,505 | 129,792 |
Pass [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 207 | 209 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 10,423 | 10,286 |
Special Mention [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,279 | 1,579 |
Special Mention [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,303 | 3,809 |
Special Mention [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,841 | 4,898 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 10,437 | 10,363 |
Substandard [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 6,910 | 6,690 |
Substandard [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,489 | 3,634 |
Substandard [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 38 | 39 |
Not Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 134,382 | 133,545 |
Not Rated [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,891 | 1,978 |
Not Rated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 503 | 847 |
Not Rated [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 907 | 1,371 |
Not Rated [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 122,206 | 121,436 |
Not Rated [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $7,875 | $7,913 |
Loans_Schedule_of_Loans_Not_Ra
Loans - Schedule of Loans Not Rated by Class of Loans (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | $134,382 | $133,545 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 133,555 | 132,441 |
Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 827 | 1,104 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 503 | 847 |
Commercial [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 503 | 847 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 907 | 1,371 |
Commercial Real Estate [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 907 | 1,371 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 122,206 | 121,436 |
Residential Real Estate [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 121,405 | 120,332 |
Residential Real Estate [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 801 | 1,104 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 2,891 | 1,978 |
Construction & Land Development [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 2,891 | 1,978 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 7,875 | 7,913 |
Consumer [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 7,849 | 7,913 |
Consumer [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | $26 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value Disclosures [Abstract] | ||
Liabilities carried at fair value | $0 | $0 |
Fair_Value_Measurements_Schedu
Fair Value Measurements - Schedule of Fair Value of Assets Measured on Recurring Basis (Detail) (Fair Value, Measurements, Recurring [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Total Securities Available-for-sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $106,575 | $100,108 |
U.S. Treasury Security [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,005 | 1,000 |
U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 28,425 | 25,079 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 48,752 | 48,347 |
Other Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 133 | 141 |
Asset-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 2,574 | 2,604 |
State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 20,562 | 18,267 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 5,061 | 4,542 |
Total debt securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 106,512 | 99,980 |
Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 63 | 128 |
Level I [Member] | Total Securities Available-for-sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,068 | 1,128 |
Level I [Member] | U.S. Treasury Security [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,005 | 1,000 |
Level I [Member] | Total debt securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,005 | 1,000 |
Level I [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 63 | 128 |
Level II [Member] | Total Securities Available-for-sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 105,507 | 98,980 |
Level II [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 28,425 | 25,079 |
Level II [Member] | Mortgage-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 48,752 | 48,347 |
Level II [Member] | Other Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 133 | 141 |
Level II [Member] | Asset-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 2,574 | 2,604 |
Level II [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 20,562 | 18,267 |
Level II [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 5,061 | 4,542 |
Level II [Member] | Total debt securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $105,507 | $98,980 |
Fair_Value_Measurements_Schedu1
Fair Value Measurements - Schedule of Fair Value of Assets Measured on Nonrecurring Basis (Detail) (Fair Value, Measurements, Nonrecurring [Member], Impaired Loans [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $8,444 | $9,029 |
Level III [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $8,444 | $9,029 |
Fair_Value_Measurements_Schedu2
Fair Value Measurements - Schedule of Quantitative Information of Assets Measured at Fair Value on Nonrecurring Basis (Detail) (Impaired Loans [Member], USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 |
Level III [Member] | Discounted Cash Flow [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value estimate | 6,047 | 6,539 |
Level III [Member] | Appraisal of Collateral [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value estimate | 2,397 | 2,490 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value estimate | 8,444 | 9,029 |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value estimate | 8,444 | 9,029 |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Remaining term | 2 months | 2 months |
Discount rate | 3.10% | 3.10% |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Remaining term | 27 years | 28 years |
Discount rate | 9.80% | 8.30% |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Remaining term | 63 months | 62 months |
Discount rate | 4.60% | 4.60% |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Appraisal of Collateral [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Liquidation expense | -10.00% | -10.00% |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Appraisal of Collateral [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal adjustments | 0.00% | -20.00% |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Appraisal of Collateral [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal adjustments | -35.00% | -25.00% |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Appraisal of Collateral [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal adjustments | -26.00% | -24.00% |
Fair_Values_of_Financial_Instr2
Fair Values of Financial Instruments - Schedule of Estimated Fair Values of Recognized Financial Instruments (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financial assets: | ||
Securities available-for-sale | $106,575 | $100,108 |
Securities held-to-maturity | 35,558 | 38,950 |
Bank-owned life insurance | 9,881 | 9,815 |
Carrying Value [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 35,632 | 43,923 |
Securities available-for-sale | 106,575 | 100,108 |
Securities held-to-maturity | 34,446 | 38,316 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 299 | 75 |
Net loans | 416,367 | 406,522 |
Bank-owned life insurance | 9,881 | 9,815 |
Accrued interest receivable | 1,625 | 1,329 |
Financial liabilities: | ||
Deposits | 497,333 | 500,075 |
Short-term borrowings | 52,133 | 46,627 |
Other borrowings | 14,788 | 14,953 |
Accrued interest payable | 82 | 84 |
Carrying Value [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets: | ||
Mortgage servicing rights | 222 | 222 |
Fair Value [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 35,632 | 43,923 |
Securities available-for-sale | 106,575 | 100,108 |
Securities held-to-maturity | 35,558 | 38,950 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 299 | 75 |
Net loans | 421,853 | 411,168 |
Bank-owned life insurance | 9,881 | 9,815 |
Accrued interest receivable | 1,625 | 1,329 |
Financial liabilities: | ||
Deposits | 498,016 | 500,757 |
Short-term borrowings | 52,133 | 46,627 |
Other borrowings | 15,036 | 15,348 |
Accrued interest payable | 82 | 84 |
Fair Value [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets: | ||
Mortgage servicing rights | 222 | 222 |
Fair Value [Member] | Level I [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 35,632 | 43,923 |
Securities available-for-sale | 1,068 | 1,128 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 299 | 75 |
Bank-owned life insurance | 9,881 | 9,815 |
Accrued interest receivable | 1,625 | 1,329 |
Financial liabilities: | ||
Deposits | 370,962 | 372,312 |
Short-term borrowings | 52,133 | 46,627 |
Accrued interest payable | 82 | 84 |
Fair Value [Member] | Level II [Member] | ||
Financial assets: | ||
Securities available-for-sale | 105,507 | 98,980 |
Securities held-to-maturity | 35,558 | 38,950 |
Fair Value [Member] | Level III [Member] | ||
Financial assets: | ||
Net loans | 421,853 | 411,168 |
Financial liabilities: | ||
Deposits | 127,054 | 128,445 |
Other borrowings | 15,036 | 15,348 |
Fair Value [Member] | Level III [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets: | ||
Mortgage servicing rights | $222 | $222 |
Fair_Values_of_Financial_Instr3
Fair Values of Financial Instruments - Additional Information (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Millions, unless otherwise specified | ||
Fair Value Disclosures [Abstract] | ||
Commitments to extend credit and letters of credit | $126 | $128 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive (Loss) Income by Component Net of Tax (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Unrealized holding gain on available-for-sale securities arising during the period, Pretax | $768 | $774 |
Reclassify gain included in income, Pretax | -35 | |
Unrealized holding gain on available-for-sale securities arising during the period, Tax (Expense) Benefit | 18 | 18 |
Reclassify gain included in income, Tax (Expense) Benefit | -12 | |
Beginning balance, After-tax | -282 | |
Other comprehensive income | 520 | 545 |
Ending Balance, After-tax | 238 | |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, Pretax | -427 | -2,207 |
Unrealized holding gain on available-for-sale securities arising during the period, Pretax | 768 | 774 |
Reclassify gain included in income, Pretax | -35 | |
Amortization of held-to-maturity discount resulting from transfer, Pretax | 54 | 52 |
Total other comprehensive income, Pretax | 787 | 826 |
Ending balance, Pretax | 360 | -1,381 |
Beginning balance, Tax (Expense) Benefit | 145 | 751 |
Unrealized holding gain on available-for-sale securities arising during the period, Tax (Expense) Benefit | -261 | -263 |
Reclassify gain included in income, Tax (Expense) Benefit | 12 | |
Amortization of held-to-maturity discount resulting from transfer, Tax (Expense) Benefit | -18 | -18 |
Total other comprehensive income, Tax (Expense) Benefit | -267 | -281 |
Ending Balance, Tax (Expense) Benefit | -122 | 470 |
Beginning balance, After-tax | -282 | -1,456 |
Unrealized holding gain on available-for-sale securities arising during the period, After-tax | 507 | 511 |
Reclassify gain included in income, After-tax | -23 | |
Amortization of held-to-maturity discount resulting from transfer, After-tax | 36 | 34 |
Other comprehensive income | 520 | 545 |
Ending Balance, After-tax | $238 | ($911) |