Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 01, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | CSBB | |
Entity Registrant Name | CSB BANCORP INC /OH | |
Entity Central Index Key | 880,417 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 2,739,405 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Cash and cash equivalents | ||
Cash and due from banks | $ 15,244 | $ 15,310 |
Interest-earning deposits in other banks | 23,672 | 28,613 |
Total cash and cash equivalents | 38,916 | 43,923 |
Securities | ||
Available-for-sale, at fair value | 107,409 | 100,108 |
Held-to-maturity; fair value of $33,553 in 2015 and $38,950 in 2014 | 33,554 | 38,316 |
Restricted stock, at cost | 4,614 | 4,614 |
Total securities | 145,577 | 143,038 |
Loans held for sale | 63 | 75 |
Loans | 415,198 | 410,903 |
Less allowance for loan losses | 4,656 | 4,381 |
Net loans | 410,542 | 406,522 |
Premises and equipment, net | 8,374 | 8,286 |
Core deposit intangible | 566 | 629 |
Goodwill | 4,728 | 4,728 |
Bank-owned life insurance | 9,948 | 9,815 |
Accrued interest receivable and other assets | 4,242 | 3,965 |
TOTAL ASSETS | 622,956 | 620,981 |
Deposits | ||
Noninterest-bearing | 139,603 | 139,251 |
Interest-bearing | 356,801 | 360,824 |
Total deposits | 496,404 | 500,075 |
Short-term borrowings | 51,702 | 46,627 |
Other borrowings | 13,738 | 14,953 |
Accrued interest payable and other liabilities | 2,146 | 1,876 |
Total liabilities | 563,990 | 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 | 35,908 | 34,090 |
Treasury stock at cost - 241,197 shares in 2015 and 2014 | (4,871) | (4,871) |
Accumulated other comprehensive loss | (584) | (282) |
Total shareholders' equity | 58,966 | 57,450 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 622,956 | $ 620,981 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Held-to-maturity, fair value | $ 33,553 | $ 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 Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
INTEREST AND DIVIDEND INCOME | ||||
Loans, including fees | $ 4,744 | $ 4,631 | $ 9,318 | $ 9,060 |
Taxable securities | 670 | 736 | 1,357 | 1,522 |
Nontaxable securities | 137 | 115 | 267 | 230 |
Other | 17 | 2 | 33 | 8 |
Total interest and dividend income | 5,568 | 5,484 | 10,975 | 10,820 |
INTEREST EXPENSE | ||||
Deposits | 272 | 289 | 544 | 593 |
Short-term borrowings | 18 | 22 | 34 | 41 |
Other borrowings | 103 | 128 | 208 | 243 |
Total interest expense | 393 | 439 | 786 | 877 |
NET INTEREST INCOME | 5,175 | 5,045 | 10,189 | 9,943 |
PROVISION FOR LOAN LOSSES | 195 | 150 | 389 | 335 |
Net interest income, after provision for loan losses | 4,980 | 4,895 | 9,800 | 9,608 |
NONINTEREST INCOME | ||||
Service charges on deposit accounts | 315 | 316 | 601 | 613 |
Trust services | 243 | 202 | 445 | 418 |
Debit card interchange fees | 246 | 233 | 473 | 431 |
Securities gains | 21 | 133 | 56 | 133 |
Gain on sale of loans, net | 122 | 44 | 192 | 68 |
Other income | 233 | 231 | 467 | 449 |
Total noninterest income | 1,180 | 1,159 | 2,234 | 2,112 |
NONINTEREST EXPENSES | ||||
Salaries and employee benefits | 2,224 | 2,110 | 4,374 | 4,129 |
Occupancy expense | 258 | 240 | 524 | 506 |
Equipment expense | 165 | 188 | 331 | 369 |
Professional and director fees | 202 | 214 | 492 | 396 |
Franchise tax expense | 100 | 106 | 199 | 213 |
Marketing and public relations | 99 | 98 | 175 | 206 |
Software expense | 213 | 172 | 402 | 334 |
Debit card expense | 108 | 92 | 208 | 189 |
Amortization of intangible assets | 31 | 33 | 63 | 65 |
FDIC insurance expense | 90 | 91 | 182 | 177 |
Other expenses | 484 | 505 | 972 | 942 |
Total noninterest expenses | 3,974 | 3,849 | 7,922 | 7,526 |
Income before income taxes | 2,186 | 2,205 | 4,112 | 4,194 |
FEDERAL INCOME TAX PROVISION | 669 | 683 | 1,253 | 1,256 |
NET INCOME | $ 1,517 | $ 1,522 | $ 2,859 | $ 2,938 |
Basic and diluted net earnings per share | $ 0.55 | $ 0.55 | $ 1.04 | $ 1.07 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 1,517 | $ 1,522 | $ 2,859 | $ 2,938 |
Other comprehensive income (loss) | ||||
Unrealized gains (losses) arising during the period | (1,386) | 583 | (618) | 1,356 |
Amounts reclassified from accumulated other comprehensive income, held-to-maturity | 162 | 51 | 216 | 104 |
Income tax effect | 416 | (214) | 137 | (496) |
Reclassification adjustment for gains on available-for-sale securities included in net income | (21) | (133) | (56) | (133) |
Income tax effect | 7 | 45 | 19 | 45 |
Other comprehensive income | (822) | 332 | (302) | 876 |
Total comprehensive income | $ 695 | $ 1,854 | $ 2,557 | $ 3,814 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total |
Balance at beginning of period at Dec. 31, 2013 | $ 52,411 |
Statement of Stockholders' Equity [Abstract] | |
Net income | 2,938 |
Other comprehensive income (loss) | 876 |
Stock options exercised | (1) |
Cash dividends declared | (985) |
Balance at end of period at Jun. 30, 2014 | $ 55,239 |
Statement of Stockholders' Equity [Abstract] | |
Cash dividends declared per share | $ 0.36 |
Balance at beginning of period at Mar. 31, 2014 | $ 53,879 |
Statement of Stockholders' Equity [Abstract] | |
Net income | 1,522 |
Other comprehensive income (loss) | 332 |
Stock options exercised | (1) |
Cash dividends declared | (493) |
Balance at end of period at Jun. 30, 2014 | $ 55,239 |
Statement of Stockholders' Equity [Abstract] | |
Cash dividends declared per share | $ 0.18 |
Balance at beginning of period at Dec. 31, 2014 | $ 57,450 |
Statement of Stockholders' Equity [Abstract] | |
Net income | 2,859 |
Other comprehensive income (loss) | (302) |
Cash dividends declared | (1,041) |
Balance at end of period at Jun. 30, 2015 | $ 58,966 |
Statement of Stockholders' Equity [Abstract] | |
Cash dividends declared per share | $ 0.38 |
Balance at beginning of period at Mar. 31, 2015 | $ 58,791 |
Statement of Stockholders' Equity [Abstract] | |
Net income | 1,517 |
Other comprehensive income (loss) | (822) |
Cash dividends declared | (520) |
Balance at end of period at Jun. 30, 2015 | $ 58,966 |
Statement of Stockholders' Equity [Abstract] | |
Cash dividends declared per share | $ 0.19 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - Jun. 30, 2014 - shares | Total | Total |
Statement of Stockholders' Equity [Abstract] | ||
Stock Options exercised, shares | 451 | 451 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Cash Flows [Abstract] | ||
NET CASH FROM OPERATING ACTIVITIES | $ 3,639 | $ 2,326 |
Securities: | ||
Proceeds from repayments, held-to-maturity | 8,945 | 5,481 |
Proceeds from maturities and repayments, available-for-sale | 15,394 | 9,605 |
Purchases, available-for-sale | (25,088) | (2,535) |
Purchases, held-to-maturity | (4,000) | |
Proceeds from sale of available-for-sale securities | 1,576 | 2,483 |
Proceeds from redemption of restricted stock | 850 | |
Loan originations, net of repayments | (4,697) | (33,112) |
Property, equipment, and software acquisitions | (444) | (268) |
Net cash used in investing activities | (8,314) | (17,496) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in deposits | (3,671) | 2,745 |
Net change in short-term borrowings | 5,075 | 1,852 |
Net change in other borrowings | (1,215) | 4,821 |
Cash dividends paid | (521) | (492) |
Stock options exercised | (1) | |
Net cash (used in) provided by financing activities | (332) | 8,925 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (5,007) | (6,245) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 43,923 | 42,599 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 38,916 | 36,354 |
Cash paid during the year for: | ||
Interest | 792 | 892 |
Income taxes | 755 | 1,175 |
Noncash financing activities: | ||
Dividends declared | $ 520 | $ 493 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 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 June 30, 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 June 30, 2015 are not necessarily indicative of the operating results for the full year or any future interim period. Certain items in the prior-year financial statements were reclassified to conform to the current-year presentation. 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. . In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) In January 2015, the FASB issued ASU 2015-01, Income Statement – Extraordinary and Unusual Items, In April 2015, the FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements |
Securities
Securities | 6 Months Ended |
Jun. 30, 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 June 30, 2015 Available-for-sale U.S. Treasury security $ 1,003 $ 1 $ — $ 1,004 U.S. Government agencies 29,646 12 247 29,411 Mortgage-backed securities of government agencies 48,911 615 210 49,316 Other mortgage-backed securities 122 2 — 124 Asset-backed securities of government agencies 1,538 12 — 1,550 State and political subdivisions 20,826 305 228 20,903 Corporate bonds 5,034 16 14 5,036 Equity securities 65 — — 65 Total available-for-sale 107,145 963 699 107,409 Held-to-maturity securities U.S. Government agencies 13,478 210 85 13,603 Mortgage-backed securities of government agencies 20,076 71 197 19,950 Total held-to-maturity 33,554 281 282 33,553 Restricted stock 4,614 — — 4,614 Total securities $ 145,313 $ 1,244 $ 981 $ 145,576 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 June 30, 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 Available-for-sale: Due in one year or less $ 2,649 $ 2,665 Due after one through five years 18,739 18,845 Due after five through ten years 30,049 29,974 Due after ten years 55,643 55,860 Total debt securities available-for-sale $ 107,080 $ 107,344 Held-to-maturity: Due in one year or less $ — $ — Due after one through five years — — Due after five through ten years 7,769 7,794 Due after ten years 25,785 25,759 Total debt securities held-to-maturity $ 33,554 $ 33,553 Securities with a carrying value of approximately $94.7 million and $88.4 million were pledged at June 30, 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 June 30, 2015 and December 31, 2014. Federal Reserve Bank stock was $471 thousand at June 30, 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 Six months ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Proceeds $ 1,488 $ 2,483 $ 1,576 $ 2,483 Realized gains 21 133 56 133 Realized losses — — — — Net securities gains $ 21 $ 133 $ 56 $ 133 The income tax provision applicable to realized gains amounted to $7 and $45 thousand for the three month periods ending June 30, 2015 and 2014, respectively. The income tax provision applicable to realized gains amounted to $19 thousand and $45 thousand for the six month periods ending June 30, 2015 and 2014, respectively. There were no tax benefits recognized from realized losses in 2015 or 2014. 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 June 30, 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 June 30, 2015 Available-for-sale U.S. Government agencies $ 161 $ 11,482 $ 86 $ 5,914 $ 247 $ 17,396 Mortgage-backed securities of government agencies 210 14,130 — — 210 14,130 State and political subdivisions 209 8,857 19 677 228 9,534 Corporate bonds 14 486 — — 14 486 Held-to-maturity U.S. Government agencies 85 3,915 — — 85 3,915 Mortgage-backed securities of government agencies 197 14,478 — — 197 14,478 Total temporarily impaired securities $ 876 $ 53,348 $ 105 $ 6,591 $ 981 $ 59,939 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 fifty-six (56) securities in an unrealized loss position at June 30, 2015, ten (10) 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 June 30, 2015. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Loans | NOTE 3 – LOANS Loans consist of the following: (Dollars in thousands) June 30, 2015 December 31, 2014 Commercial $ 127,878 $ 123,813 Commercial real estate 140,482 139,695 Residential real estate 122,732 121,684 Construction & land development 15,195 17,446 Consumer 8,534 7,913 Total loans before deferred costs 414,821 410,551 Deferred loan costs 377 352 Total Loans $ 415,198 $ 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 June 30, 2015 and December 31, 2014, approximately 77% 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 $75.5 million and $70.6 million at June 30, 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 June 30, 2015 and December 31, 2014, there were no concentrations of loans related to any single industry. Allowance for Loan Losses The following tables detail activity in the allowance for loan losses by portfolio segment for the three and six month periods ended June 30, 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 changes in the provision for loan losses for the three and six month periods of 2015 related to commercial and industrial and commercial real estate loans were primarily due to the increase in loan balances in the first quarter of 2015 and the subsequent decrease in these loan balances in the second quarter of 2015. The increase in the provision related to consumer loans for the six months ended June 30, 2015 was due to charge-offs of loans in that category and increasing loan volumes. The increase in the provision for possible loan losses during 2014 related to commercial and industrial loans was due to the increase in specific allocation amounts related to impaired and special mention loans and also the increase in loan balances. The increase in the provision related to commercial real estate loans was affected by an increase in the historical loss rate of this loan type, increase in loan balances, and charge-offs that occurred during the six months ended June 30, 2014. The decrease in the provision related to construction and land development loans relates primarily to the decrease in loan volume due to completion of construction projects and loans being moved to permanent financing. (Dollars in thousands) Commercial Commercial Residential Construction Consumer Unallocated Total Three months ended June 30, 2015 Beginning balance $ 1,394 $ 1,574 $ 1,003 $ 133 $ 69 $ 321 $ 4,494 Provision for possible loan losses (43 ) (99 ) 8 (8 ) 8 329 195 Charge-offs (3 ) (16 ) (17 ) — (4 ) (40 ) Recoveries 6 — — — 1 7 Net charge-offs 3 (16 ) (17 ) — (3 ) (33 ) Ending balance $ 1,354 $ 1,459 $ 994 $ 125 $ 74 $ 650 $ 4,656 Six months ended June 30, 2015 Beginning balance $ 1,289 $ 1,524 $ 1,039 $ 142 $ 60 $ 327 $ 4,381 Provision for possible loan losses 58 (35 ) 16 (17 ) 44 323 389 Charge-offs (5 ) (40 ) (70 ) — (34 ) (149 ) Recoveries 12 10 9 — 4 35 Net charge-offs 7 (30 ) (61 ) — (30 ) (114 ) Ending balance $ 1,354 $ 1,459 $ 994 $ 125 $ 74 $ 650 $ 4,656 Three months ended June 30, 2014 Beginning balance $ 1,141 $ 2,192 $ 1,054 $ 145 $ 77 $ 456 $ 5,065 Provision for possible loan losses 182 51 102 (94 ) (37 ) (54 ) 150 Charge-offs (5 ) (156 ) (2 ) — — (163 ) Recoveries 4 — 3 — 4 11 Net charge-offs (1 ) (156 ) 1 — 4 (152 ) Ending balance $ 1,322 $ 2,087 $ 1,157 $ 51 $ 44 $ 402 $ 5,063 Six months ended June 30, 2014 Beginning balance $ 1,219 $ 1,872 $ 1,205 $ 178 $ 91 $ 520 $ 5,085 Provision for possible loan losses 113 568 (49 ) (127 ) (52 ) (118 ) 335 Charge-offs (18 ) (353 ) (6 ) — (3 ) (380 ) Recoveries 8 — 7 — 8 23 Net charge-offs (10 ) (353 ) 1 — 5 (357 ) Ending balance $ 1,322 $ 2,087 $ 1,157 $ 51 $ 44 $ 402 $ 5,063 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 June 30, 2015 and December 31, 2014: (Dollars in thousands) Commercial Commercial Residential Construction Consumer Unallocated Total June 30, 2015 Allowance for loan losses: Individually evaluated for impairment $ — $ 71 $ 30 $ — $ — $ — 101 Collectively evaluated for impairment 1,354 1,388 964 125 74 650 4,555 Total ending allowance balance $ 1,354 $ 1,459 $ 994 $ 125 $ 74 $ 650 4,656 Loans: Loans individually evaluated for impairment $ 2,187 $ 4,944 $ 1,823 $ — $ — 8,954 Loans collectively evaluated for impairment 125,691 135,538 120,909 15,195 8,534 405,867 Total ending loans balance $ 127,878 $ 140,482 $ 122,732 $ 15,195 $ 8,534 414,821 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 June 30, 2015 and December 31, 2014: (Dollars in thousands) Unpaid Recorded Recorded Total Related June 30, 2015 Commercial $ 6,728 $ 5,542 $ 11 $ 5,553 $ — Commercial real estate 1,814 1,029 564 1,593 71 Residential real estate 2,000 1,104 723 1,827 30 Total impaired loans $ 10,542 $ 7,675 $ 1,298 $ 8,973 $ 101 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 June 30, Six months ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Average recorded investment: Commercial $ 6,137 $ 6,983 $ 5,998 $ 6,593 Commercial real estate 1,606 3,486 1,655 3,591 Residential real estate 1,729 1,838 1,674 1,861 Average recorded investment in impaired loans $ 9,472 $ 12,307 $ 9,327 $ 12,045 Interest income recognized: Commercial $ 54 $ 41 $ 105 $ 102 Commercial real estate 4 35 9 70 Residential real estate 19 16 35 31 Interest income recognized on a cash basis on impaired loans $ 77 $ 92 $ 149 $ 203 The following table presents the aging of past due loans and nonaccrual loans as of June 30, 2015 and December 31, 2014 by class of loans: (Dollars in thousands) Current 30 - 59 60 - 89 90 Days + Non- Accrual Total Past Total Loans June 30, 2015 Commercial $ 126,693 $ 149 $ 228 $ — $ 808 $ 1,185 $ 127,878 Commercial real estate 138,747 280 4 — 1,451 1,735 140,482 Residential real estate 121,380 463 43 163 683 1,352 122,732 Construction & land development 15,195 — — — — — 15,195 Consumer 8,394 128 — 12 — 140 8,534 Total Loans $ 410,409 $ 1,020 $ 275 $ 175 $ 2,942 $ 4,412 $ 414,821 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 $7.0 million as of June 30, 2015, and $6.8 million as of December 31, 2014, with $39 thousand and $88 thousand of specific reserves allocated to those loans, respectively. At June 30, 2015, $6.6 million of the loans classified as TDR’s were performing in accordance with their modified terms. Of the remaining $404 thousand, all were in nonaccrual of interest status. The Company held no foreclosed real estate as of June 30, 2015 or December 31, 2014. Consumer mortgage loans in the process of foreclosure were $280 thousand at June 30, 2015 and $139 thousand at December 31, 2014. The following table presents loans restructured during the three and six month period ended June 30, 2015 and the three and six month periods June 30, 2014. (Dollars in thousands) Number of Pre- Modification Post- For the three months ended June 30, 2015 Residential Real Estate 3 $ 266 $ 266 Total Restructured Loans 3 $ 266 $ 266 For the six months ended June 30, 2015 Residential Real Estate 4 $ 295 $ 295 Total Restructured Loans 4 $ 295 $ 295 For the three months ended June 30, 2014 Residential Real Estate — $ — $ — Total Restructured Loans — $ — $ — For the six months ended June 30, 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 six month periods ended June 30, 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 Special Mention Substandard Doubtful 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 June 30, 2015 and December 31, 2014: (Dollars in thousands) Pass Special Mention Substandard Doubtful Not Rated Total June 30, 2015 Commercial $ 113,532 $ 5,884 $ 7,633 $ — $ 829 $ 127,878 Commercial real estate 132,100 4,259 3,120 — 1,003 140,482 Residential real estate 204 — 37 — 122,491 122,732 Construction & land development 11,850 1,376 — — 1,969 15,195 Consumer — — — — 8,534 8,534 Total $ 257,686 $ 11,519 $ 10,790 $ — $ 134,826 $ 414,821 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 June 30, 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 June 30, 2015 Commercial $ 829 $ — $ 829 Commercial real estate 1,003 — 1,003 Residential real estate 121,682 809 122,491 Construction & land development 1,969 — 1,969 Consumer 8,522 12 8,534 Total $ 134,005 $ 821 $ 134,826 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 |
Short-Term Borrowings
Short-Term Borrowings | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | NOTE 4 – SHORT-TERM BORROWINGS The following table provides additional detail regarding repurchase agreements accounted for as secured borrowings. Overnight and Continuous (Dollars in thousands) June 30, 2015 December 31, 2014 Securities of U.S. Government Agencies pledged $ 51,935 $ 46,842 Repurchase agreements $ 51,702 $ 46,627 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | NOTE 5 – 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 June 30, 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 June 30, 2015 Assets: Securities available-for-sale U.S. Treasury security $ 1,004 $ — $ — $ 1,004 U.S. Government agencies — 29,411 — 29,411 Mortgage-backed securities of government agencies — 49,316 — 49,316 Other mortgage-backed securities — 124 — 124 Asset-backed securities of government agencies — 1,550 — 1,550 State and political subdivisions — 20,903 — 20,903 Corporate bonds — 5,036 — 5,036 Total debt securities 1,004 106,340 — 107,344 Equity securities 65 — — 65 Total available-for-sale securities $ 1,069 $ 106,340 $ — $ 107,409 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 June 30, 2015 and December 31, 2014, by level within the fair value hierarchy. Impaired loans 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 June 30, 2015 Assets measured on a nonrecurring basis: Impaired loans $ — $ — $ 8,853 $ 8,853 December 31, 2014 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 Estimate Valuation Techniques Unobservable Input Range (Weighted Average) (Dollars in thousands) June 30, 2015 Impaired loans $ 6,687 Discounted cash flow Remaining term Discount rate 4 mos to 30 yrs (76 months) 3.1% to 9.8% (4.5%) 2,166 Appraisal of collateral (1) Appraisal adjustments (2) Liquidation expense (2) 0% to -35% (-25%) -10% (-10%) December 31, 2014 Impaired loans $ 6,539 Discounted cash flow Remaining term Discount rate 2 mos to 28 yrs / (62 mos) 3.1% to 8.3% / (4.6%) 2,490 Appraisal of collateral (1) Appraisal adjustments (2) Liquidation expense (2) -20% to -25% (-24%) -10% (-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. |
Fair Values of Financial Instru
Fair Values of Financial Instruments | 6 Months Ended |
Jun. 30, 2015 | |
Investments, All Other Investments [Abstract] | |
Fair Values of Financial Instruments | NOTE 6 – FAIR VALUES OF FINANCIAL INSTRUMENTS The estimated fair values of recognized financial instruments as of June 30, 2015 and December 31, 2014 are as follows: (Dollars in thousands) Carrying Level 1 Level II Level III Total Fair June 30, 2015 Financial assets: Cash and cash equivalents $ 38,916 $ 38,916 $ — $ — $ 38,916 Securities available-for-sale 107,409 1,069 106,340 — 107,409 Securities held-to-maturity 33,554 — 33,553 — 33,553 Restricted stock 4,614 4,614 — — 4,614 Loans held for sale 63 63 — — 63 Net loans 410,542 — — 415,442 415,442 Bank-owned life insurance 9,948 9,948 — — 9,948 Accrued interest receivable 1,306 1,306 — — 1,306 Mortgage servicing rights 236 — — 236 236 Financial liabilities: Deposits $ 496,404 $ 370,618 $ — $ 126,462 $ 497,080 Short-term borrowings 51,702 51,702 — — 51,702 Other borrowings 13,738 — — 14,142 14,142 Accrued interest payable 78 78 — — 78 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 I. 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 June 30, 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 $134 million at June 30, 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 Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | NOTE 7- ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the changes in accumulated other comprehensive income (loss) by component net of tax for the three and six month periods ended June 30, 2015 and 2014: (Dollars in thousands) Pretax Tax After-tax Affected Line Three months ended June 30, 2015 Balance as of March 31, 2015 $ 360 $ (122 ) $ 238 Unrealized holding loss on available-for-sale securities arising during the period (1,386 ) 471 (915 ) Reclassify gain included in income (21 ) 7 (14 ) (a, b) Amortization of held-to-maturity discount resulting from transfer 162 (55 ) 107 (c) Total other comprehensive income (1,245 ) 423 (822 ) Balance as of June 30, 2015 $ (885 ) $ 301 $ (584 ) Six months ended June 30, 2015 Balance as of December 31, 2014 $ (427 ) $ 145 $ (282 ) Unrealized holding loss on available-for-sale securities arising during the period (618 ) 210 (408 ) Reclassify gain included in income (56 ) 19 (37 ) (a, b) Amortization of held-to-maturity discount resulting from transfer 216 (73 ) 143 (c) Total other comprehensive income (458 ) 156 (302 ) Balance as of June 30, 2015 $ (885 ) $ 301 $ (584 ) Three months ended June 30, 2014 Balance as of March 31, 2014 $ (1,381 ) $ 469 $ (912 ) Unrealized holding gain on available-for-sale securities arising during the period 583 (197 ) 386 Reclassify gain included in income (133 ) 45 (88 ) (a, b) Amortization of held-to-maturity discount resulting from transfer 51 (17 ) 34 (c) Total other comprehensive income 501 (169 ) 332 Balance as of June 30, 2014 $ (880 ) $ 300 $ (580 ) Six months ended June 30, 2014 Balance as of December 31, 2013 $ (2,207 ) $ 751 $ (1,456 ) Unrealized holding gain on available-for-sale securities arising during the period 1,356 (461 ) 895 Reclassify gain included in income (133 ) 45 (88 ) (a, b) Amortization of held-to-maturity discount resulting from transfer 104 (35 ) 69 (c) Total other comprehensive income 1,327 (451 ) 876 Balance as of June 30, 2014 $ (880 ) $ 300 $ (580 ) (a) Securities gains (b) Federal Income Tax Provision (c) There was no income statement effect from the transfer of securities to held-to-maturity. |
Summary of Significant Accoun16
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 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. . In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) |
Revenue Recognition | In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers |
Transfers and Servicing | In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures |
Extraordinary and Unusual Items | In January 2015, the FASB issued ASU 2015-01, Income Statement – Extraordinary and Unusual Items, |
Intangibles | In April 2015, the FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) |
Technical Corrections and Improvements | In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2015 Available-for-sale U.S. Treasury security $ 1,003 $ 1 $ — $ 1,004 U.S. Government agencies 29,646 12 247 29,411 Mortgage-backed securities of government agencies 48,911 615 210 49,316 Other mortgage-backed securities 122 2 — 124 Asset-backed securities of government agencies 1,538 12 — 1,550 State and political subdivisions 20,826 305 228 20,903 Corporate bonds 5,034 16 14 5,036 Equity securities 65 — — 65 Total available-for-sale 107,145 963 699 107,409 Held-to-maturity securities U.S. Government agencies 13,478 210 85 13,603 Mortgage-backed securities of government agencies 20,076 71 197 19,950 Total held-to-maturity 33,554 281 282 33,553 Restricted stock 4,614 — — 4,614 Total securities $ 145,313 $ 1,244 $ 981 $ 145,576 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 June 30, 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 Available-for-sale: Due in one year or less $ 2,649 $ 2,665 Due after one through five years 18,739 18,845 Due after five through ten years 30,049 29,974 Due after ten years 55,643 55,860 Total debt securities available-for-sale $ 107,080 $ 107,344 Held-to-maturity: Due in one year or less $ — $ — Due after one through five years — — Due after five through ten years 7,769 7,794 Due after ten years 25,785 25,759 Total debt securities held-to-maturity $ 33,554 $ 33,553 |
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 Six months ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Proceeds $ 1,488 $ 2,483 $ 1,576 $ 2,483 Realized gains 21 133 56 133 Realized losses — — — — Net securities gains $ 21 $ 133 $ 56 $ 133 |
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 June 30, 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 June 30, 2015 Available-for-sale U.S. Government agencies $ 161 $ 11,482 $ 86 $ 5,914 $ 247 $ 17,396 Mortgage-backed securities of government agencies 210 14,130 — — 210 14,130 State and political subdivisions 209 8,857 19 677 228 9,534 Corporate bonds 14 486 — — 14 486 Held-to-maturity U.S. Government agencies 85 3,915 — — 85 3,915 Mortgage-backed securities of government agencies 197 14,478 — — 197 14,478 Total temporarily impaired securities $ 876 $ 53,348 $ 105 $ 6,591 $ 981 $ 59,939 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) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Summary of Loans | Loans consist of the following: (Dollars in thousands) June 30, 2015 December 31, 2014 Commercial $ 127,878 $ 123,813 Commercial real estate 140,482 139,695 Residential real estate 122,732 121,684 Construction & land development 15,195 17,446 Consumer 8,534 7,913 Total loans before deferred costs 414,821 410,551 Deferred loan costs 377 352 Total Loans $ 415,198 $ 410,903 |
Schedule of Allowances for Loan Losses by Portfolio Segment | The following tables detail activity in the allowance for loan losses by portfolio segment for the three and six month periods ended June 30, 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 changes in the provision for loan losses for the three and six month periods of 2015 related to commercial and industrial and commercial real estate loans were primarily due to the increase in loan balances in the first quarter of 2015 and the subsequent decrease in these loan balances in the second quarter of 2015. The increase in the provision related to consumer loans for the six months ended June 30, 2015 was due to charge-offs of loans in that category and increasing loan volumes. The increase in the provision for possible loan losses during 2014 related to commercial and industrial loans was due to the increase in specific allocation amounts related to impaired and special mention loans and also the increase in loan balances. The increase in the provision related to commercial real estate loans was affected by an increase in the historical loss rate of this loan type, increase in loan balances, and charge-offs that occurred during the six months ended June 30, 2014. The decrease in the provision related to construction and land development loans relates primarily to the decrease in loan volume due to completion of construction projects and loans being moved to permanent financing. (Dollars in thousands) Commercial Commercial Residential Construction Consumer Unallocated Total Three months ended June 30, 2015 Beginning balance $ 1,394 $ 1,574 $ 1,003 $ 133 $ 69 $ 321 $ 4,494 Provision for possible loan losses (43 ) (99 ) 8 (8 ) 8 329 195 Charge-offs (3 ) (16 ) (17 ) — (4 ) (40 ) Recoveries 6 — — — 1 7 Net charge-offs 3 (16 ) (17 ) — (3 ) (33 ) Ending balance $ 1,354 $ 1,459 $ 994 $ 125 $ 74 $ 650 $ 4,656 Six months ended June 30, 2015 Beginning balance $ 1,289 $ 1,524 $ 1,039 $ 142 $ 60 $ 327 $ 4,381 Provision for possible loan losses 58 (35 ) 16 (17 ) 44 323 389 Charge-offs (5 ) (40 ) (70 ) — (34 ) (149 ) Recoveries 12 10 9 — 4 35 Net charge-offs 7 (30 ) (61 ) — (30 ) (114 ) Ending balance $ 1,354 $ 1,459 $ 994 $ 125 $ 74 $ 650 $ 4,656 Three months ended June 30, 2014 Beginning balance $ 1,141 $ 2,192 $ 1,054 $ 145 $ 77 $ 456 $ 5,065 Provision for possible loan losses 182 51 102 (94 ) (37 ) (54 ) 150 Charge-offs (5 ) (156 ) (2 ) — — (163 ) Recoveries 4 — 3 — 4 11 Net charge-offs (1 ) (156 ) 1 — 4 (152 ) Ending balance $ 1,322 $ 2,087 $ 1,157 $ 51 $ 44 $ 402 $ 5,063 Six months ended June 30, 2014 Beginning balance $ 1,219 $ 1,872 $ 1,205 $ 178 $ 91 $ 520 $ 5,085 Provision for possible loan losses 113 568 (49 ) (127 ) (52 ) (118 ) 335 Charge-offs (18 ) (353 ) (6 ) — (3 ) (380 ) Recoveries 8 — 7 — 8 23 Net charge-offs (10 ) (353 ) 1 — 5 (357 ) Ending balance $ 1,322 $ 2,087 $ 1,157 $ 51 $ 44 $ 402 $ 5,063 |
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 June 30, 2015 and December 31, 2014: (Dollars in thousands) Commercial Commercial Residential Construction Consumer Unallocated Total June 30, 2015 Allowance for loan losses: Individually evaluated for impairment $ — $ 71 $ 30 $ — $ — $ — 101 Collectively evaluated for impairment 1,354 1,388 964 125 74 650 4,555 Total ending allowance balance $ 1,354 $ 1,459 $ 994 $ 125 $ 74 $ 650 4,656 Loans: Loans individually evaluated for impairment $ 2,187 $ 4,944 $ 1,823 $ — $ — 8,954 Loans collectively evaluated for impairment 125,691 135,538 120,909 15,195 8,534 405,867 Total ending loans balance $ 127,878 $ 140,482 $ 122,732 $ 15,195 $ 8,534 414,821 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 June 30, 2015 and December 31, 2014: (Dollars in thousands) Unpaid Recorded Recorded Total Related June 30, 2015 Commercial $ 6,728 $ 5,542 $ 11 $ 5,553 $ — Commercial real estate 1,814 1,029 564 1,593 71 Residential real estate 2,000 1,104 723 1,827 30 Total impaired loans $ 10,542 $ 7,675 $ 1,298 $ 8,973 $ 101 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 June 30, Six months ended June 30, (Dollars in thousands) 2015 2014 2015 2014 Average recorded investment: Commercial $ 6,137 $ 6,983 $ 5,998 $ 6,593 Commercial real estate 1,606 3,486 1,655 3,591 Residential real estate 1,729 1,838 1,674 1,861 Average recorded investment in impaired loans $ 9,472 $ 12,307 $ 9,327 $ 12,045 Interest income recognized: Commercial $ 54 $ 41 $ 105 $ 102 Commercial real estate 4 35 9 70 Residential real estate 19 16 35 31 Interest income recognized on a cash basis on impaired loans $ 77 $ 92 $ 149 $ 203 |
Schedule of Aging of Past Due and Nonaccrual Loans | The following table presents the aging of past due loans and nonaccrual loans as of June 30, 2015 and December 31, 2014 by class of loans: (Dollars in thousands) Current 30 - 59 60 - 89 90 Days + Non- Accrual Total Past Total Loans June 30, 2015 Commercial $ 126,693 $ 149 $ 228 $ — $ 808 $ 1,185 $ 127,878 Commercial real estate 138,747 280 4 — 1,451 1,735 140,482 Residential real estate 121,380 463 43 163 683 1,352 122,732 Construction & land development 15,195 — — — — — 15,195 Consumer 8,394 128 — 12 — 140 8,534 Total Loans $ 410,409 $ 1,020 $ 275 $ 175 $ 2,942 $ 4,412 $ 414,821 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 and six month period ended June 30, 2015 and the three and six month periods June 30, 2014. (Dollars in thousands) Number of Pre- Modification Post- For the three months ended June 30, 2015 Residential Real Estate 3 $ 266 $ 266 Total Restructured Loans 3 $ 266 $ 266 For the six months ended June 30, 2015 Residential Real Estate 4 $ 295 $ 295 Total Restructured Loans 4 $ 295 $ 295 For the three months ended June 30, 2014 Residential Real Estate — $ — $ — Total Restructured Loans — $ — $ — For the six months ended June 30, 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 June 30, 2015 and December 31, 2014: (Dollars in thousands) Pass Special Mention Substandard Doubtful Not Rated Total June 30, 2015 Commercial $ 113,532 $ 5,884 $ 7,633 $ — $ 829 $ 127,878 Commercial real estate 132,100 4,259 3,120 — 1,003 140,482 Residential real estate 204 — 37 — 122,491 122,732 Construction & land development 11,850 1,376 — — 1,969 15,195 Consumer — — — — 8,534 8,534 Total $ 257,686 $ 11,519 $ 10,790 $ — $ 134,826 $ 414,821 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 June 30, 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 June 30, 2015 Commercial $ 829 $ — $ 829 Commercial real estate 1,003 — 1,003 Residential real estate 121,682 809 122,491 Construction & land development 1,969 — 1,969 Consumer 8,522 12 8,534 Total $ 134,005 $ 821 $ 134,826 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 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Summary of Repurchase Agreements Accounted for as Secured Borrowings | The following table provides additional detail regarding repurchase agreements accounted for as secured borrowings. Overnight and Continuous (Dollars in thousands) June 30, 2015 December 31, 2014 Securities of U.S. Government Agencies pledged $ 51,935 $ 46,842 Repurchase agreements $ 51,702 $ 46,627 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2015 and December 31, 2014 by level within the fair value hierarchy. (Dollars in thousands) Level I Level II Level III Total June 30, 2015 Assets: Securities available-for-sale U.S. Treasury security $ 1,004 $ — $ — $ 1,004 U.S. Government agencies — 29,411 — 29,411 Mortgage-backed securities of government agencies — 49,316 — 49,316 Other mortgage-backed securities — 124 — 124 Asset-backed securities of government agencies — 1,550 — 1,550 State and political subdivisions — 20,903 — 20,903 Corporate bonds — 5,036 — 5,036 Total debt securities 1,004 106,340 — 107,344 Equity securities 65 — — 65 Total available-for-sale securities $ 1,069 $ 106,340 $ — $ 107,409 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 June 30, 2015 and December 31, 2014, by level within the fair value hierarchy. (Dollars in thousands) Level I Level II Level III Total June 30, 2015 Assets measured on a nonrecurring basis: Impaired loans $ — $ — $ 8,853 $ 8,853 December 31, 2014 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 Estimate Valuation Techniques Unobservable Input Range (Weighted Average) (Dollars in thousands) June 30, 2015 Impaired loans $ 6,687 Discounted cash flow Remaining term Discount rate 4 mos to 30 yrs (76 months) 3.1% to 9.8% (4.5%) 2,166 Appraisal of collateral (1) Appraisal adjustments (2) Liquidation expense (2) 0% to -35% (-25%) -10% (-10%) December 31, 2014 Impaired loans $ 6,539 Discounted cash flow Remaining term Discount rate 2 mos to 28 yrs / (62 mos) 3.1% to 8.3% / (4.6%) 2,490 Appraisal of collateral (1) Appraisal adjustments (2) Liquidation expense (2) -20% to -25% (-24%) -10% (-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. |
Fair Values of Financial Inst21
Fair Values of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2015 and December 31, 2014 are as follows: (Dollars in thousands) Carrying Level 1 Level II Level III Total Fair June 30, 2015 Financial assets: Cash and cash equivalents $ 38,916 $ 38,916 $ — $ — $ 38,916 Securities available-for-sale 107,409 1,069 106,340 — 107,409 Securities held-to-maturity 33,554 — 33,553 — 33,553 Restricted stock 4,614 4,614 — — 4,614 Loans held for sale 63 63 — — 63 Net loans 410,542 — — 415,442 415,442 Bank-owned life insurance 9,948 9,948 — — 9,948 Accrued interest receivable 1,306 1,306 — — 1,306 Mortgage servicing rights 236 — — 236 236 Financial liabilities: Deposits $ 496,404 $ 370,618 $ — $ 126,462 $ 497,080 Short-term borrowings 51,702 51,702 — — 51,702 Other borrowings 13,738 — — 14,142 14,142 Accrued interest payable 78 78 — — 78 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 Comprehensi22
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax | The following table presents the changes in accumulated other comprehensive income (loss) by component net of tax for the three and six month periods ended June 30, 2015 and 2014: (Dollars in thousands) Pretax Tax After-tax Affected Line Three months ended June 30, 2015 Balance as of March 31, 2015 $ 360 $ (122 ) $ 238 Unrealized holding loss on available-for-sale securities arising during the period (1,386 ) 471 (915 ) Reclassify gain included in income (21 ) 7 (14 ) (a, b) Amortization of held-to-maturity discount resulting from transfer 162 (55 ) 107 (c) Total other comprehensive income (1,245 ) 423 (822 ) Balance as of June 30, 2015 $ (885 ) $ 301 $ (584 ) Six months ended June 30, 2015 Balance as of December 31, 2014 $ (427 ) $ 145 $ (282 ) Unrealized holding loss on available-for-sale securities arising during the period (618 ) 210 (408 ) Reclassify gain included in income (56 ) 19 (37 ) (a, b) Amortization of held-to-maturity discount resulting from transfer 216 (73 ) 143 (c) Total other comprehensive income (458 ) 156 (302 ) Balance as of June 30, 2015 $ (885 ) $ 301 $ (584 ) Three months ended June 30, 2014 Balance as of March 31, 2014 $ (1,381 ) $ 469 $ (912 ) Unrealized holding gain on available-for-sale securities arising during the period 583 (197 ) 386 Reclassify gain included in income (133 ) 45 (88 ) (a, b) Amortization of held-to-maturity discount resulting from transfer 51 (17 ) 34 (c) Total other comprehensive income 501 (169 ) 332 Balance as of June 30, 2014 $ (880 ) $ 300 $ (580 ) Six months ended June 30, 2014 Balance as of December 31, 2013 $ (2,207 ) $ 751 $ (1,456 ) Unrealized holding gain on available-for-sale securities arising during the period 1,356 (461 ) 895 Reclassify gain included in income (133 ) 45 (88 ) (a, b) Amortization of held-to-maturity discount resulting from transfer 104 (35 ) 69 (c) Total other comprehensive income 1,327 (451 ) 876 Balance as of June 30, 2014 $ (880 ) $ 300 $ (580 ) (a) Securities gains (b) Federal Income Tax Provision (c) There was no income statement effect from the transfer of securities to held-to-maturity. |
Securities - Summary of Securit
Securities - Summary of Securities Available-for-Sale and Restricted Stock (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | $ 107,145 | $ 99,160 |
Gross Unrealized Gains, Available-for-sale | 963 | 1,236 |
Gross Unrealized Losses, Available-for-sale | 699 | 288 |
Fair Value, Available-for-sale | 107,409 | 100,108 |
Amortized Cost, Held to maturity | 33,554 | 38,316 |
Gross Unrealized Gains, Held to maturity | 281 | 692 |
Gross Unrealized Losses, Held to maturity | 282 | 58 |
Fair Value, Held to maturity | 33,553 | 38,950 |
Amortized Cost | 145,313 | 142,090 |
Gross Unrealized Gains | 1,244 | 1,928 |
Gross Unrealized Losses | 981 | 346 |
Fair Value | 145,576 | 143,672 |
U.S. Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 29,646 | 25,228 |
Gross Unrealized Gains, Available-for-sale | 12 | 6 |
Gross Unrealized Losses, Available-for-sale | 247 | 155 |
Fair Value, Available-for-sale | 29,411 | 25,079 |
Amortized Cost, Held to maturity | 13,478 | 16,343 |
Gross Unrealized Gains, Held to maturity | 210 | 294 |
Gross Unrealized Losses, Held to maturity | 85 | 2 |
Fair Value, Held to maturity | 13,603 | 16,635 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 48,911 | 47,696 |
Gross Unrealized Gains, Available-for-sale | 615 | 730 |
Gross Unrealized Losses, Available-for-sale | 210 | 79 |
Fair Value, Available-for-sale | 49,316 | 48,347 |
Amortized Cost, Held to maturity | 20,076 | 21,973 |
Gross Unrealized Gains, Held to maturity | 71 | 398 |
Gross Unrealized Losses, Held to maturity | 197 | 56 |
Fair Value, Held to maturity | 19,950 | 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 | 1 | |
Gross Unrealized Losses, Available-for-sale | 4 | |
Fair Value, Available-for-sale | 1,004 | 1,000 |
Other Mortgage-Backed Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 122 | 139 |
Gross Unrealized Gains, Available-for-sale | 2 | 2 |
Fair Value, Available-for-sale | 124 | 141 |
Asset-Backed Securities of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 1,538 | 2,606 |
Gross Unrealized Gains, Available-for-sale | 12 | 3 |
Gross Unrealized Losses, Available-for-sale | 5 | |
Fair Value, Available-for-sale | 1,550 | 2,604 |
State and Political Subdivisions [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 20,826 | 17,878 |
Gross Unrealized Gains, Available-for-sale | 305 | 433 |
Gross Unrealized Losses, Available-for-sale | 228 | 44 |
Fair Value, Available-for-sale | 20,903 | 18,267 |
Corporate Bonds [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 5,034 | 4,503 |
Gross Unrealized Gains, Available-for-sale | 16 | 40 |
Gross Unrealized Losses, Available-for-sale | 14 | 1 |
Fair Value, Available-for-sale | 5,036 | 4,542 |
Equity Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 65 | 106 |
Gross Unrealized Gains, Available-for-sale | 22 | |
Fair Value, Available-for-sale | 65 | 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 Amortiz
Securities - Summary of Amortized Cost and Fair Value of Debt Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Available-for-sale: | ||
Due in one year or less, Amortized Cost | $ 2,649 | |
Due after one through five years, Amortized Cost | 18,739 | |
Due after five through ten years, Amortized Cost | 30,049 | |
Due after ten years, Amortized Cost | 55,643 | |
Total debt securities available-for-sale, Amortized Cost | 107,080 | |
Due in one year or less, Fair Value | 2,665 | |
Due after one through five years, Fair Value | 18,845 | |
Due after five through ten years, Fair Value | 29,974 | |
Due after ten years, Fair Value | 55,860 | |
Total debt securities available-for-sale, Fair Value | 107,344 | |
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 | 7,769 | |
Due after ten years, Amortized cost | 25,785 | |
Amortized Cost, Held to maturity | 33,554 | $ 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 | 7,794 | |
Due after ten years, Fair Value | 25,759 | |
Total debt securities held-to-maturity, Fair Value | $ 33,553 | $ 38,950 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Investments, Debt and Equity Securities [Abstract] | |||||
Carrying value of pledged securities | $ 94,700,000 | $ 94,700,000 | $ 88,400,000 | ||
Restricted stock investment in FHLB stock | 4,100,000 | 4,100,000 | 4,100,000 | ||
Federal Reserve Bank stock | 471,000 | 471,000 | $ 471,000 | ||
Income tax provision applicable to realized gains | 7,000 | $ 45,000 | 19,000 | $ 45,000 | |
Income tax benefit on realized losses | $ 0 | $ 0 | $ 0 | $ 0 |
Securities - Summary of Proceed
Securities - Summary of Proceeds and Gains and Losses from Sales of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Proceeds | $ 1,488 | $ 2,483 | $ 1,576 | $ 2,483 |
Realized gains | 21 | 133 | 56 | 133 |
Realized losses | 0 | 0 | 0 | 0 |
Net securities gains | $ 21 | $ 133 | $ 56 | $ 133 |
Securities - Summary of Gross U
Securities - Summary of Gross Unrealized Losses and Fair Value of Available for Sale Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Held-to-maturity, Gross Unrealized Losses, Total | $ 282 | $ 58 |
Gross Unrealized Losses, Less Than 12 Months | 876 | 77 |
Fair Value, Less Than 12 Months | 53,348 | 16,936 |
Gross Unrealized Losses, 12 Months Or More | 105 | 269 |
Fair Value, 12 Months Or More | 6,591 | 21,476 |
Gross Unrealized Losses, Total | 981 | 346 |
Fair Value, Total | 59,939 | 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 | 85 | 2 |
Held-to-maturity, Fair Value, Less Than 12 Months | 3,915 | 998 |
Held-to-maturity, Gross Unrealized Losses, Total | 85 | 2 |
Held-to-maturity, Fair Value, Total | 3,915 | 998 |
Gross Unrealized Losses, Less Than 12 Months | 161 | 12 |
Fair Value, Less Than 12 Months | 11,482 | 5,188 |
Gross Unrealized Losses, 12 Months Or More | 86 | 143 |
Fair Value, 12 Months Or More | 5,914 | 5,856 |
Gross Unrealized Losses, Total | 247 | 155 |
Fair Value, Total | 17,396 | 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 | 197 | |
Held-to-maturity, Fair Value, Less Than 12 Months | 14,478 | |
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 | 197 | 56 |
Held-to-maturity, Fair Value, Total | 14,478 | 9,265 |
Gross Unrealized Losses, Less Than 12 Months | 210 | 40 |
Fair Value, Less Than 12 Months | 14,130 | 6,348 |
Gross Unrealized Losses, 12 Months Or More | 39 | |
Fair Value, 12 Months Or More | 4,939 | |
Gross Unrealized Losses, Total | 210 | 79 |
Fair Value, Total | 14,130 | 11,287 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 209 | 13 |
Fair Value, Less Than 12 Months | 8,857 | 1,300 |
Gross Unrealized Losses, 12 Months Or More | 19 | 31 |
Fair Value, 12 Months Or More | 677 | 1,416 |
Gross Unrealized Losses, Total | 228 | 44 |
Fair Value, Total | 9,534 | 2,716 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 14 | 1 |
Fair Value, Less Than 12 Months | 486 | 499 |
Gross Unrealized Losses, Total | 14 | 1 |
Fair Value, Total | $ 486 | 499 |
Asset-Backed Securities of Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 5 | |
Fair Value, Less Than 12 Months | 1,603 | |
Gross Unrealized Losses, Total | 5 | |
Fair Value, Total | $ 1,603 |
Loans - Summary of Loans (Detai
Loans - Summary of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | $ 414,821 | $ 410,551 |
Deferred loan costs | 377 | 352 |
Total loans | 415,198 | 410,903 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 127,878 | 123,813 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 140,482 | 139,695 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 122,732 | 121,684 |
Construction & Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 15,195 | 17,446 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | $ 8,534 | $ 7,913 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Jun. 30, 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 | 77.00% | 77.00% | |
Loans serviced for others | $ 75,500,000 | $ 70,600,000 | |
Concentrations of loans related to a single industry | 0 | 0 | |
Loans classified as troubled debt restructurings | 7,000,000 | 6,800,000 | |
Reserves allocated to customers whose loan terms are modified in troubled debt restructurings | 39,000 | 88,000 | |
Loans payable in nonaccrual of interest status | 404,000 | ||
Foreclosed real estate | 0 | 0 | |
Consumer mortgage loans in process of foreclosure amount | 280,000 | $ 139,000 | |
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 | $ 6,600,000 |
Loans - Schedule of Allowances
Loans - Schedule of Allowances for Loan Losses by Portfolio Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | $ 4,494 | $ 5,065 | $ 4,381 | $ 5,085 |
Provision for possible loan losses | 195 | 150 | 389 | 335 |
Charge-offs | (40) | (163) | (149) | (380) |
Recoveries | 7 | 11 | 35 | 23 |
Net charge-offs | (33) | (152) | (114) | (357) |
Ending balance | 4,656 | 5,063 | 4,656 | 5,063 |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,394 | 1,141 | 1,289 | 1,219 |
Provision for possible loan losses | (43) | 182 | 58 | 113 |
Charge-offs | (3) | (5) | (5) | (18) |
Recoveries | 6 | 4 | 12 | 8 |
Net charge-offs | 3 | (1) | 7 | (10) |
Ending balance | 1,354 | 1,322 | 1,354 | 1,322 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,574 | 2,192 | 1,524 | 1,872 |
Provision for possible loan losses | (99) | 51 | (35) | 568 |
Charge-offs | (16) | (156) | (40) | (353) |
Recoveries | 10 | |||
Net charge-offs | (16) | (156) | (30) | (353) |
Ending balance | 1,459 | 2,087 | 1,459 | 2,087 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,003 | 1,054 | 1,039 | 1,205 |
Provision for possible loan losses | 8 | 102 | 16 | (49) |
Charge-offs | (17) | (2) | (70) | (6) |
Recoveries | 3 | 9 | 7 | |
Net charge-offs | (17) | 1 | (61) | 1 |
Ending balance | 994 | 1,157 | 994 | 1,157 |
Construction & Land Development [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 133 | 145 | 142 | 178 |
Provision for possible loan losses | (8) | (94) | (17) | (127) |
Ending balance | 125 | 51 | 125 | 51 |
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 69 | 77 | 60 | 91 |
Provision for possible loan losses | 8 | (37) | 44 | (52) |
Charge-offs | (4) | (34) | (3) | |
Recoveries | 1 | 4 | 4 | 8 |
Net charge-offs | (3) | 4 | (30) | 5 |
Ending balance | 74 | 44 | 74 | 44 |
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 321 | 456 | 327 | 520 |
Provision for possible loan losses | 329 | (54) | 323 | (118) |
Ending balance | $ 650 | $ 402 | $ 650 | $ 402 |
Loans - Allowances for Loan Los
Loans - Allowances for Loan Losses and Ending Balances by Portfolio Segment and Based on Impairment Method (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | $ 101 | $ 184 | ||||
Collectively evaluated for impairment | 4,555 | 4,197 | ||||
Total ending allowance balance | 4,656 | $ 4,494 | 4,381 | $ 5,063 | $ 5,065 | $ 5,085 |
Loans: | ||||||
Loans individually evaluated for impairment | 8,954 | 9,213 | ||||
Loans collectively evaluated for impairment | 405,867 | 401,338 | ||||
Total ending loans balance | 414,821 | 410,551 | ||||
Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 1,354 | 1,289 | ||||
Total ending allowance balance | 1,354 | 1,394 | 1,289 | 1,322 | 1,141 | 1,219 |
Loans: | ||||||
Loans individually evaluated for impairment | 2,187 | 5,922 | ||||
Loans collectively evaluated for impairment | 125,691 | 117,891 | ||||
Total ending loans balance | 127,878 | 123,813 | ||||
Commercial Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 71 | 109 | ||||
Collectively evaluated for impairment | 1,388 | 1,415 | ||||
Total ending allowance balance | 1,459 | 1,574 | 1,524 | 2,087 | 2,192 | 1,872 |
Loans: | ||||||
Loans individually evaluated for impairment | 4,944 | 1,679 | ||||
Loans collectively evaluated for impairment | 135,538 | 138,016 | ||||
Total ending loans balance | 140,482 | 139,695 | ||||
Residential Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 30 | 75 | ||||
Collectively evaluated for impairment | 964 | 964 | ||||
Total ending allowance balance | 994 | 1,003 | 1,039 | 1,157 | 1,054 | 1,205 |
Loans: | ||||||
Loans individually evaluated for impairment | 1,823 | 1,612 | ||||
Loans collectively evaluated for impairment | 120,909 | 120,072 | ||||
Total ending loans balance | 122,732 | 121,684 | ||||
Construction [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 125 | 142 | ||||
Total ending allowance balance | 125 | 142 | ||||
Loans: | ||||||
Loans collectively evaluated for impairment | 15,195 | 17,446 | ||||
Total ending loans balance | 15,195 | 17,446 | ||||
Consumer [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 74 | 60 | ||||
Total ending allowance balance | 74 | 69 | 60 | 44 | 77 | 91 |
Loans: | ||||||
Loans collectively evaluated for impairment | 8,534 | 7,913 | ||||
Total ending loans balance | 8,534 | 7,913 | ||||
Unallocated [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 650 | 327 | ||||
Total ending allowance balance | $ 650 | $ 321 | $ 327 | $ 402 | $ 456 | $ 520 |
Loans - Schedule of Impairment
Loans - Schedule of Impairment by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | $ 10,542 | $ 10,568 |
Recorded Investment with no Allowance | 7,675 | 7,724 |
Recorded Investment with Allowance | 1,298 | 1,495 |
Total Recorded Investment | 8,973 | 9,219 |
Related Allowance | 101 | 184 |
Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 6,728 | 7,011 |
Recorded Investment with no Allowance | 5,542 | 5,889 |
Recorded Investment with Allowance | 11 | 37 |
Total Recorded Investment | 5,553 | 5,926 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 1,814 | 1,836 |
Recorded Investment with no Allowance | 1,029 | 950 |
Recorded Investment with Allowance | 564 | 728 |
Total Recorded Investment | 1,593 | 1,678 |
Related Allowance | 71 | 109 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid Principal Balance | 2,000 | 1,721 |
Recorded Investment with no Allowance | 1,104 | 885 |
Recorded Investment with Allowance | 723 | 730 |
Total Recorded Investment | 1,827 | 1,615 |
Related Allowance | $ 30 | $ 75 |
Loans - Schedule of Average Rec
Loans - Schedule of Average Recorded Investment in Impaired Loans and Related Interest Income Recognized (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Average recorded investment: | ||||
Average recorded investment in impaired loans | $ 9,472 | $ 12,307 | $ 9,327 | $ 12,045 |
Interest income recognized: | ||||
Interest income recognized on a cash basis on impaired loans | 77 | 92 | 149 | 203 |
Commercial [Member] | ||||
Average recorded investment: | ||||
Average recorded investment in impaired loans | 6,137 | 6,983 | 5,998 | 6,593 |
Interest income recognized: | ||||
Interest income recognized on a cash basis on impaired loans | 54 | 41 | 105 | 102 |
Commercial Real Estate [Member] | ||||
Average recorded investment: | ||||
Average recorded investment in impaired loans | 1,606 | 3,486 | 1,655 | 3,591 |
Interest income recognized: | ||||
Interest income recognized on a cash basis on impaired loans | 4 | 35 | 9 | 70 |
Residential Real Estate [Member] | ||||
Average recorded investment: | ||||
Average recorded investment in impaired loans | 1,729 | 1,838 | 1,674 | 1,861 |
Interest income recognized: | ||||
Interest income recognized on a cash basis on impaired loans | $ 19 | $ 16 | $ 35 | $ 31 |
Loans - Schedule of Aging of Pa
Loans - Schedule of Aging of Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 410,409 | $ 405,220 |
Non-Accrual | 2,942 | 3,668 |
Total Past Due and Non-Accrual | 4,412 | 5,331 |
Total ending loans balance | 414,821 | 410,551 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,020 | 1,033 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 275 | 349 |
90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 175 | 281 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 126,693 | 122,283 |
Non-Accrual | 808 | 1,071 |
Total Past Due and Non-Accrual | 1,185 | 1,530 |
Total ending loans balance | 127,878 | 123,813 |
Commercial [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 149 | 362 |
Commercial [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 228 | 96 |
Commercial [Member] | 90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 138,747 | 137,683 |
Non-Accrual | 1,451 | 1,734 |
Total Past Due and Non-Accrual | 1,735 | 2,012 |
Total ending loans balance | 140,482 | 139,695 |
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 280 | 174 |
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4 | 104 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 121,380 | 120,025 |
Non-Accrual | 683 | 863 |
Total Past Due and Non-Accrual | 1,352 | 1,659 |
Total ending loans balance | 122,732 | 121,684 |
Residential Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 463 | 424 |
Residential Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 43 | 92 |
Residential Real Estate [Member] | 90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 163 | 280 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 15,195 | 17,431 |
Total Past Due and Non-Accrual | 15 | |
Total ending loans balance | 15,195 | 17,446 |
Construction & Land Development [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15 | |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 8,394 | 7,798 |
Total Past Due and Non-Accrual | 140 | 115 |
Total ending loans balance | 8,534 | 7,913 |
Consumer [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 128 | 73 |
Consumer [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 42 | |
Consumer [Member] | 90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 12 |
Loans - Summary of Troubled Deb
Loans - Summary of Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2015USD ($)Contract | Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | |||
Number of loans restructured | Contract | 3 | 4 | 1 |
Pre-Modification Recorded Investment | $ 266 | $ 295 | $ 84 |
Post-Modification Recorded Investment | $ 266 | $ 295 | $ 84 |
Residential Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of loans restructured | Contract | 3 | 4 | 1 |
Pre-Modification Recorded Investment | $ 266 | $ 295 | $ 84 |
Post-Modification Recorded Investment | $ 266 | $ 295 | $ 84 |
Loans - Summary of Loans by Cre
Loans - Summary of Loans by Credit Quality Indicator (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 414,821 | $ 410,551 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 127,878 | 123,813 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 140,482 | 139,695 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 122,732 | 121,684 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 15,195 | 17,446 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 8,534 | 7,913 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 257,686 | 256,357 |
Pass [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 113,532 | 112,467 |
Pass [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 132,100 | 129,792 |
Pass [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 204 | 209 |
Pass [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 11,850 | 13,889 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 11,519 | 10,286 |
Special Mention [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 5,884 | 3,809 |
Special Mention [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,259 | 4,898 |
Special Mention [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,376 | 1,579 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 10,790 | 10,363 |
Substandard [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,633 | 6,690 |
Substandard [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,120 | 3,634 |
Substandard [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 37 | 39 |
Not Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 134,826 | 133,545 |
Not Rated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 829 | 847 |
Not Rated [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,003 | 1,371 |
Not Rated [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 122,491 | 121,436 |
Not Rated [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,969 | 1,978 |
Not Rated [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 8,534 | $ 7,913 |
Loans - Schedule of Loans Not R
Loans - Schedule of Loans Not Rated by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | $ 134,826 | $ 133,545 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 829 | 847 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 1,003 | 1,371 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 122,491 | 121,436 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 1,969 | 1,978 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 8,534 | 7,913 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 134,005 | 132,441 |
Performing [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 829 | 847 |
Performing [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 1,003 | 1,371 |
Performing [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 121,682 | 120,332 |
Performing [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 1,969 | 1,978 |
Performing [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 8,522 | 7,913 |
Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 821 | 1,104 |
Nonperforming [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 809 | $ 1,104 |
Nonperforming [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | $ 12 |
Short-Term Borrowings - Summary
Short-Term Borrowings - Summary of Repurchase Agreements Accounted for as Secured Borrowings (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Short-term Debt [Abstract] | ||
Securities of U.S. Government Agencies pledged | $ 51,935 | $ 46,842 |
Repurchase agreements | $ 51,702 | $ 46,627 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value Disclosures [Abstract] | ||
Liabilities carried at fair value | $ 0 | $ 0 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Fair Value of Assets Measured on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Total Securities Available-for-sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 107,409 | $ 100,108 |
U.S. Treasury Security [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,004 | 1,000 |
U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 29,411 | 25,079 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 49,316 | 48,347 |
Other Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 124 | 141 |
Asset-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,550 | 2,604 |
State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 20,903 | 18,267 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 5,036 | 4,542 |
Total Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 107,344 | 99,980 |
Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 65 | 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 | 1,069 | 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 | 1,004 | 1,000 |
Level I [Member] | Total Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,004 | 1,000 |
Level I [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 65 | 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 | 106,340 | 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 | 29,411 | 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 | 49,316 | 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 | 124 | 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 | 1,550 | 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 | 20,903 | 18,267 |
Level II [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 5,036 | 4,542 |
Level II [Member] | Total Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 106,340 | $ 98,980 |
Fair Value Measurements - Sch41
Fair Value Measurements - Schedule of Fair Value of Assets Measured on Nonrecurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] - Impaired Loans [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 8,853 | $ 9,029 |
Level III [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 8,853 | $ 9,029 |
Fair Value Measurements - Sch42
Fair Value Measurements - Schedule of Quantitative Information of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - Impaired Loans [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Level III [Member] | Discounted Cash Flow [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value estimate | $ 6,687 | $ 6,539 |
Level III [Member] | Appraisal of Collateral [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value estimate | 2,166 | 2,490 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value estimate | 8,853 | 9,029 |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value estimate | $ 8,853 | $ 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 | 4 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 | 30 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 | 76 months | 62 months |
Discount rate | 4.50% | 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 | (25.00%) | (24.00%) |
Fair Values of Financial Inst43
Fair Values of Financial Instruments - Schedule of Estimated Fair Values of Recognized Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financial assets: | ||
Securities available-for-sale | $ 107,409 | $ 100,108 |
Securities held-to-maturity | 33,553 | 38,950 |
Bank-owned life insurance | 9,948 | 9,815 |
Carrying Value [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 38,916 | 43,923 |
Securities available-for-sale | 107,409 | 100,108 |
Securities held-to-maturity | 33,554 | 38,316 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 63 | 75 |
Net loans | 410,542 | 406,522 |
Bank-owned life insurance | 9,948 | 9,815 |
Accrued interest receivable | 1,306 | 1,329 |
Financial liabilities: | ||
Deposits | 496,404 | 500,075 |
Short-term borrowings | 51,702 | 46,627 |
Other borrowings | 13,738 | 14,953 |
Accrued interest payable | 78 | 84 |
Carrying Value [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets: | ||
Mortgage servicing rights | 236 | 222 |
Fair Value [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 38,916 | 43,923 |
Securities available-for-sale | 107,409 | 100,108 |
Securities held-to-maturity | 33,553 | 38,950 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 63 | 75 |
Net loans | 415,442 | 411,168 |
Bank-owned life insurance | 9,948 | 9,815 |
Accrued interest receivable | 1,306 | 1,329 |
Financial liabilities: | ||
Deposits | 497,080 | 500,757 |
Short-term borrowings | 51,702 | 46,627 |
Other borrowings | 14,142 | 15,348 |
Accrued interest payable | 78 | 84 |
Fair Value [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets: | ||
Mortgage servicing rights | 236 | 222 |
Fair Value [Member] | Level I [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 38,916 | 43,923 |
Securities available-for-sale | 1,069 | 1,128 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 63 | 75 |
Bank-owned life insurance | 9,948 | 9,815 |
Accrued interest receivable | 1,306 | 1,329 |
Financial liabilities: | ||
Deposits | 370,618 | 372,312 |
Short-term borrowings | 51,702 | 46,627 |
Accrued interest payable | 78 | 84 |
Fair Value [Member] | Level II [Member] | ||
Financial assets: | ||
Securities available-for-sale | 106,340 | 98,980 |
Securities held-to-maturity | 33,553 | 38,950 |
Fair Value [Member] | Level III [Member] | ||
Financial assets: | ||
Net loans | 415,442 | 411,168 |
Financial liabilities: | ||
Deposits | 126,462 | 128,445 |
Other borrowings | 14,142 | 15,348 |
Fair Value [Member] | Level III [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets: | ||
Mortgage servicing rights | $ 236 | $ 222 |
Fair Values of Financial Inst44
Fair Values of Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value Disclosures [Abstract] | ||
Commitments to extend credit and letters of credit | $ 134 | $ 128 |
Accumulated Other Comprehensi45
Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component Net of Tax (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Unrealized holding gain (loss) on available-for-sale securities arising during the period, Pretax | $ (1,386) | $ 583 | $ (618) | $ 1,356 |
Reclassify gain included in income, Pretax | (21) | (133) | (56) | (133) |
Unrealized holding gain (loss) on available-for-sale securities arising during the period, Tax (Expense) Benefit | 416 | (214) | 137 | (496) |
Reclassify gain included in income, Tax (Expense) Benefit | 7 | 45 | 19 | 45 |
Beginning balance, After-tax | (282) | |||
Other comprehensive income | (822) | 332 | (302) | 876 |
Ending Balance, After-tax | (584) | (584) | ||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance, Pretax | 360 | (1,381) | (427) | (2,207) |
Unrealized holding gain (loss) on available-for-sale securities arising during the period, Pretax | (1,386) | 583 | (618) | 1,356 |
Reclassify gain included in income, Pretax | (21) | (133) | (56) | (133) |
Amortization of held-to-maturity discount resulting from transfer, Pretax | 162 | 51 | 216 | 104 |
Total other comprehensive income, Pretax | (1,245) | 501 | (458) | 1,327 |
Ending balance, Pretax | (885) | (880) | (885) | (880) |
Beginning balance, Tax (Expense) Benefit | (122) | 469 | 145 | 751 |
Unrealized holding gain (loss) on available-for-sale securities arising during the period, Tax (Expense) Benefit | 471 | (197) | 210 | (461) |
Reclassify gain included in income, Tax (Expense) Benefit | 7 | 45 | 19 | 45 |
Amortization of held-to-maturity discount resulting from transfer, Tax (Expense) Benefit | (55) | (17) | (73) | (35) |
Total other comprehensive income, Tax (Expense) Benefit | 423 | (169) | 156 | (451) |
Ending Balance, Tax (Expense) Benefit | 301 | 300 | 301 | 300 |
Beginning balance, After-tax | 238 | (912) | (282) | (1,456) |
Unrealized holding gain (loss) on available-for-sale securities arising during the period, After-tax | (915) | 386 | (408) | 895 |
Reclassify gain included in income, After-tax | (14) | (88) | (37) | (88) |
Amortization of held-to-maturity discount resulting from transfer, After-tax | 107 | 34 | 143 | 69 |
Other comprehensive income | (822) | 332 | (302) | 876 |
Ending Balance, After-tax | $ (584) | $ (580) | $ (584) | $ (580) |