Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Feb. 28, 2015 | Jun. 30, 2014 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | OHIO VALLEY BANC CORP | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | -19 | ||
Entity Common Stock, Shares Outstanding | 4,117,675 | ||
Entity Public Float | $84,755,776 | ||
Amendment Flag | FALSE | ||
Entity Central Index Key | 894671 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY |
Consolidated_Statements_of_Con
Consolidated Statements of Condition (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ||
Cash and noninterest-bearing deposits with banks | $9,315 | $9,841 |
Interest-bearing deposits with banks | 21,662 | 18,503 |
Total cash and cash equivalents | 30,977 | 28,344 |
Interest-bearing deposits with banks | 980 | |
Securities available for sale | 85,236 | 84,068 |
Securities held to maturity (estimated fair value: 2014 - $23,570; 2013 - $22,984) | 22,820 | 22,826 |
Federal Home Loan Bank and Federal Reserve Bank stock | 6,576 | 7,776 |
Total loans | 594,768 | 566,319 |
Less: Allowance for loan losses | -8,334 | -6,155 |
Net loans | 586,434 | 560,164 |
Premises and equipment, net | 9,195 | 9,005 |
Other real estate owned | 1,525 | 1,354 |
Accrued interest receivable | 1,806 | 1,901 |
Goodwill | 1,267 | 1,267 |
Bank owned life insurance and annuity assets | 25,612 | 24,940 |
Other assets | 6,240 | 5,723 |
Total assets | 778,668 | 747,368 |
Liabilities | ||
Noninterest-bearing deposits | 161,794 | 149,823 |
Interest-bearing deposits | 485,036 | 479,054 |
Total deposits | 646,830 | 628,877 |
Other borrowed funds | 24,972 | 18,748 |
Subordinated debentures | 8,500 | 8,500 |
Accrued liabilities | 12,150 | 10,824 |
Total liabilities | 692,452 | 666,949 |
Commitments and Contingent Liabilities (See Note J) | ||
Shareholders’ Equity | ||
Common stock ($1.00 stated value per share, 10,000,000 shares authorized; 2014 - 4,777,414 shares issued; 2013 - 4,758,492 shares issued) | 4,777 | 4,758 |
Additional paid-in capital | 35,318 | 34,883 |
Retained earnings | 60,873 | 56,241 |
Accumulated other comprehensive income | 960 | 249 |
Treasury stock, at cost (659,739 shares) | -15,712 | -15,712 |
Total shareholders’ equity | 86,216 | 80,419 |
Total liabilities and shareholders’ equity | $778,668 | $747,368 |
Consolidated_Statements_of_Con1
Consolidated Statements of Condition (Parentheticals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Securities held to maturity, fair value (in Dollars) | $23,570 | $22,984 |
Common stock, stated value (in Dollars per share) | $1 | $1 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 4,777,414 | 4,758,492 |
Treasury stock, shares | 659,739 | 659,739 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Interest and dividend income: | |||
Loans, including fees | $33,635 | $33,592 | $36,329 |
Securities: | |||
Taxable | 1,717 | 1,339 | 1,608 |
Tax exempt | 555 | 570 | 590 |
Dividends | 312 | 322 | 279 |
Other interest | 136 | 135 | 195 |
36,355 | 35,958 | 39,001 | |
Interest expense: | |||
Deposits | 2,236 | 2,917 | 5,064 |
Other borrowed funds | 474 | 391 | 493 |
Subordinated debentures | 165 | 265 | 789 |
2,875 | 3,573 | 6,346 | |
Net interest income | 33,480 | 32,385 | 32,655 |
Provision for loan losses | 2,787 | 477 | 1,583 |
Net interest income after provision for loan losses | 30,693 | 31,908 | 31,072 |
Noninterest income: | |||
Service charges on deposit accounts | 1,627 | 1,802 | 1,831 |
Trust fees | 223 | 210 | 199 |
Income from bank owned life insurance and annuity assets | 672 | 1,176 | 782 |
Mortgage banking income | 228 | 506 | 626 |
Electronic refund check / deposit fees | 3,133 | 2,556 | 2,289 |
Debit / credit card interchange income | 2,174 | 1,963 | 1,700 |
Gain (loss) on other real estate owned | 88 | -577 | -331 |
Gain on sale of ProAlliance Corporation | 810 | ||
Other | 813 | 997 | 1,206 |
9,793 | 8,518 | 8,483 | |
Noninterest expense: | |||
Salaries and employee benefits | 17,878 | 17,570 | 17,418 |
Occupancy | 1,585 | 1,573 | 1,565 |
Furniture and equipment | 757 | 902 | 954 |
FDIC insurance | 483 | 490 | 755 |
Data processing | 1,127 | 1,052 | 1,021 |
Foreclosed assets | 185 | 482 | 446 |
Other | 7,278 | 7,306 | 7,582 |
29,293 | 29,375 | 29,741 | |
Income before income taxes | 11,193 | 11,051 | 9,814 |
Provision for income taxes | 3,120 | 2,939 | 2,762 |
NET INCOME | 8,073 | 8,112 | 7,052 |
Earnings per share (in Dollars per share) | $1.97 | $2 | $1.75 |
Other Real Estate Owned [Member] | |||
Noninterest income: | |||
Gain (loss) on other real estate owned | $113 | ($692) | ($150) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
NET INCOME | $8,073 | $8,112 | $7,052 |
Other comprehensive income (loss): | |||
Change in unrealized gain (loss) on available for sale securities | 1,077 | -2,057 | 979 |
Related tax (expense) benefit | -366 | 699 | -333 |
Total other comprehensive income (loss), net of tax | 711 | -1,358 | 646 |
Total comprehensive income | $8,784 | $6,754 | $7,698 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Total |
In Thousands | ||||||
Balances at Dec. 31, 2011 | $4,686 | $33,473 | $48,435 | $961 | ($15,712) | $71,843 |
Net income | 7,052 | 7,052 | ||||
Other comprehensive income (loss), net | 646 | 646 | ||||
Common stock issued to ESOP | 33 | 584 | 617 | |||
Common stock issued through dividend reinvestment | 3 | 52 | 55 | |||
Cash dividends | -4,393 | -4,393 | ||||
Balances at Dec. 31, 2012 | 4,722 | 34,109 | 51,094 | 1,607 | -15,712 | 75,820 |
Net income | 8,112 | 8,112 | ||||
Other comprehensive income (loss), net | -1,358 | -1,358 | ||||
Common stock issued to ESOP | 28 | 612 | 640 | |||
Common stock issued through dividend reinvestment | 8 | 162 | 170 | |||
Cash dividends | -2,965 | -2,965 | ||||
Balances at Dec. 31, 2013 | 4,758 | 34,883 | 56,241 | 249 | -15,712 | 80,419 |
Net income | 8,073 | 8,073 | ||||
Other comprehensive income (loss), net | 711 | 711 | ||||
Common stock issued to ESOP | 15 | 336 | 351 | |||
Common stock issued through dividend reinvestment | 4 | 99 | 103 | |||
Cash dividends | -3,441 | -3,441 | ||||
Balances at Dec. 31, 2014 | $4,777 | $35,318 | $60,873 | $960 | ($15,712) | $86,216 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Common stock issued to ESOP | 14,618 | 28,634 | 32,765 |
Common Stock [Member] | |||
Common stock issued to ESOP | 14,618 | 28,634 | 32,765 |
Common stock issued through dividend reinvestment | 4,304 | 7,915 | 2,883 |
Cash dividends (in Dollars per share) | 0.84 | 0.73 | 1.09 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Net income | $8,073 | $8,112 | $7,052 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 795 | 827 | 973 |
Net amortization of securities | 732 | 1,436 | 1,483 |
Proceeds from sale of loans in secondary market | 4,286 | 13,187 | 29,573 |
Loans disbursed for sale in secondary market | -4,058 | -12,681 | -28,947 |
Amortization of mortgage servicing rights | 77 | 118 | 179 |
(Recovery) impairment of mortgage servicing rights | -121 | -21 | |
Gain on sale of loans | -305 | -503 | -784 |
Deferred tax (benefit) expense | -517 | 144 | -206 |
Provision for loan losses | 2,787 | 477 | 1,583 |
Common stock issued to ESOP | 351 | 640 | 617 |
Earnings on bank owned life insurance and annuity assets | -672 | -724 | -782 |
Gain on sale of ProAlliance Corporation | -810 | ||
(Gain) loss on sale of other real estate owned | -25 | 115 | -181 |
(Appreciation) write-down of other real estate owned | -88 | 577 | 331 |
Change in accrued interest receivable | 95 | 156 | 815 |
Change in accrued liabilities | 1,326 | 270 | -98 |
Change in other assets | -366 | 1,128 | -756 |
Net cash provided by operating activities | 11,681 | 13,158 | 10,831 |
Cash flows from investing activities: | |||
Proceeds from maturities of securities available for sale | 15,318 | 24,577 | 33,696 |
Purchases of securities available for sale | -16,077 | -17,105 | -43,436 |
Proceeds from maturities of securities held to maturity | 827 | 1,813 | 2,213 |
Purchases of securities held to maturity | -885 | -1,196 | -2,935 |
Net change in interest-bearing deposits with banks | -980 | ||
Purchases of Federal Reserve Bank stock | -1,495 | ||
Redemptions of Federal Home Loan Bank stock | 1,200 | ||
Net change in loans | -29,936 | -9,572 | 36,731 |
Proceeds from sale of other real estate owned | 821 | 1,935 | 1,706 |
Proceeds from sale of ProAlliance Corporation | 810 | ||
Purchases of premises and equipment | -985 | -1,152 | -437 |
Proceeds from bank owned life insurance | 1,249 | ||
Purchases of bank owned life insurance and annuity assets | -1,177 | ||
Net cash provided by (used in) investing activities | -29,887 | -946 | 26,361 |
Cash flows from financing activities: | |||
Change in deposits | 17,953 | -26,187 | -32,822 |
Proceeds from common stock through dividend reinvestment | 103 | 170 | 55 |
Cash dividends | -3,441 | -2,965 | -4,393 |
Repayment of subordinated debentures | -5,000 | ||
Proceeds from Federal Home Loan Bank borrowings | 7,575 | 5,853 | 2,000 |
Repayment of Federal Home Loan Bank borrowings | -1,612 | -1,393 | -7,789 |
Change in other short-term borrowings | 261 | 3 | -222 |
Net cash provided by (used in) financing activities | 20,839 | -29,519 | -43,171 |
Cash and cash equivalents: | |||
Change in cash and cash equivalents | 2,633 | -17,307 | -5,979 |
Cash and cash equivalents at beginning of year | 28,344 | 45,651 | 51,630 |
Cash and cash equivalents at end of year | 30,977 | 28,344 | 45,651 |
Supplemental disclosure: | |||
Cash paid for interest | 3,274 | 4,158 | 6,863 |
Cash paid for income taxes | 3,567 | 2,950 | 4,033 |
Transfers from loans to other real estate owned | 879 | 314 | 1,267 |
Other real estate owned sales financed by the Bank | $390 | $466 | $1,133 |
Note_1_Summary_of_Significant_
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Accounting Policies [Abstract] | |||||||||
Significant Accounting Policies [Text Block] | Note A - Summary of Significant Accounting Policies | ||||||||
Description of Business: Ohio Valley Banc Corp. (”Ohio Valley”) is a financial holding company registered under the Bank Holding Company Act of 1956. Ohio Valley has one banking subsidiary, The Ohio Valley Bank Company (the “Bank”), an Ohio state-chartered bank that is a member of the Federal Reserve Bank and is regulated primarily by the Ohio Division of Financial Institutions and the Federal Reserve Board. Ohio Valley also has a subsidiary that engages in consumer lending to individuals with higher credit risk history, Loan Central, Inc., a subsidiary insurance agency that facilitates the receipts of insurance commissions, Ohio Valley Financial Services Agency, LLC, and a limited purpose property and casualty insurance company, OVBC Captive, Inc. Ohio Valley and its subsidiaries are collectively referred to as the “Company.” | |||||||||
The Company provides a full range of commercial and retail banking services from 21 offices located in southeastern Ohio and western West Virginia. It accepts deposits in checking, savings, time and money market accounts and makes personal, commercial, floor plan, student, construction and real estate loans. Substantially all loans are secured by specific items of collateral, including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from business operations. The Company also offers safe deposit boxes, wire transfers and other standard banking products and services. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation. In addition to accepting deposits and making loans, the Bank invests in U. S. Government and agency obligations, interest-bearing deposits in other financial institutions and investments permitted by applicable law. | |||||||||
The Bank’s trust department provides a wide variety of fiduciary services for trusts, estates and benefit plans and also provides investment and security services as an agent for its customers. | |||||||||
Principles of Consolidation: The consolidated financial statements include the accounts of Ohio Valley and its wholly-owned subsidiaries, the Bank, Loan Central, Inc., a consumer finance company, Ohio Valley Financial Services Agency, LLC, an insurance agency, and OVBC Captive, Inc. a limited purpose insurance company. All material intercompany accounts and transactions have been eliminated. | |||||||||
Industry Segment Information: Internal financial information is primarily reported and aggregated in two lines of business, banking and consumer finance. | |||||||||
Use of Estimates in the Preparation of Financial Statements: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||
Cash and Cash Equivalents: Cash and cash equivalents include cash on hand, noninterest-bearing deposits with banks, federal funds sold and interest-bearing deposits with banks with maturity terms of less than 90 days. Generally, federal funds are purchased and sold for one-day periods. The Company reports net cash flows for customer loan transactions, deposit transactions, short-term borrowings and interest-bearing deposits with other financial institutions. | |||||||||
Interest-Bearing Deposits with Banks: Interest-bearing deposits with banks are carried at cost and have maturity terms of 90 days or greater. | |||||||||
Securities: The Company classifies securities into held to maturity and available for sale categories. Held to maturity securities are those which the Company has the positive intent and ability to hold to maturity and are reported at amortized cost. Securities classified as available for sale include securities that could be sold for liquidity, investment management or similar reasons even if there is not a present intention of such a sale. Available for sale securities are reported at fair value, with unrealized gains or losses included in other comprehensive income, net of tax. | |||||||||
Premium amortization is deducted from, and discount accretion is added to, interest income on securities using the level yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses are recognized upon the sale of specific identified securities on the completed trade date. | |||||||||
Other-Than-Temporary Impairments of Securities: In determining an other-than-temporary impairment (“OTTI”), management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an OTTI decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. | |||||||||
When an OTTI occurs, the amount of the OTTI recognized in earnings depends on whether an entity intends to sell the security or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, less any current-period credit loss. If an entity intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, less any current-period credit loss, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If an entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis less any current-period loss, the OTTI shall be separated into the amount representing the credit loss and the amount related to all other factors. The amount of the total OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected and is recognized in earnings. The amount of the total OTTI related to other factors is recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings becomes the new amortized cost basis of the investment. | |||||||||
Federal Home Loan Bank (”FHLB”) and Federal Reserve Bank (“FRB”) Stock: The Bank is a member of the FHLB system. Additionally, the Bank is a member of the FRB system. Members are required to own a certain amount of stock based on their level of borrowings and other factors and may invest in additional amounts. FHLB stock and FRB stock are carried at cost, classified as restricted securities, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. | |||||||||
Loans: Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of unearned interest, deferred loan fees and costs, and an allowance for loan losses. Interest income is reported on an accrual basis using the interest method and includes amortization of net deferred loan fees and costs over the loan term using the level yield method without anticipating prepayments. The amount of the Company’s recorded investment is not materially different than the amount of unpaid principal balance for loans. | |||||||||
Interest income is discontinued and the loan moved to non-accrual status when full loan repayment is in doubt, typically when the loan is impaired or payments are past due 90 days or over unless the loan is well-secured or in process of collection. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. Nonaccrual loans and loans past due 90 days or over and still accruing include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. | |||||||||
All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis method until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | |||||||||
Allowance for Loan Losses: The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged-off. | |||||||||
The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Impaired loans generally consist of loans with balances of $200 or more on nonaccrual status or nonperforming in nature. Loans for which the terms have been modified and for which the borrower is experiencing financial difficulties are considered troubled debt restructurings and classified as impaired. | |||||||||
Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length and reasons for the delay, the borrower’s prior payment record, and the amount of shortfall in relation to the principal and interest owed. | |||||||||
Commercial and commercial real estate loans are individually evaluated for impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Smaller balance homogeneous loans, such as consumer and most residential real estate, are collectively evaluated for impairment, and accordingly, they are not separately identified for impairment disclosure. Troubled debt restructurings are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. | |||||||||
The general component covers non-impaired loans and impaired loans that are not individually reviewed for impairment and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent 3 years for the consumer and real estate portfolio segment and 5 years for the commercial portfolio segment. Prior to 2014, the commercial portfolio’s historical loss factor was based on a period of 3 years. During the first quarter of 2014, management extended the loan loss history to 5 years due to the significant decline in net charge-offs that have been experienced since the first quarter of 2012. The total loan portfolio’s actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The following portfolio segments have been identified: Commercial and Industrial, Commercial Real Estate, Residential Real Estate, and Consumer. | |||||||||
Commercial and industrial loans consist of borrowings for commercial purposes to individuals, corporations, partnerships, sole proprietorships, and other business enterprises. Commercial and industrial loans are generally secured by business assets such as equipment, accounts receivable, inventory, or any other asset excluding real estate and generally made to finance capital expenditures or operations. The Company’s risk exposure is related to deterioration in the value of collateral securing the loan should foreclosure become necessary. Generally, business assets used or produced in operations do not maintain their value upon foreclosure which may require the Company to write-down the value significantly to sell. | |||||||||
Commercial real estate consists of nonfarm, nonresidential loans secured by owner-occupied and nonowner-occupied commercial real estate as well as commercial construction loans. An owner-occupied loan relates to a borrower purchased building or space for which the repayment of principal is dependent upon cash flows from the ongoing business operations conducted by the party, or an affiliate of the party, who owns the property. Owner-occupied loans that are dependent on cash flows from operations can be adversely affected by current market conditions for their product or service. A nonowner-occupied loan is a property loan for which the repayment of principal is dependent upon rental income associated with the property or the subsequent sale of the property. Nonowner-occupied loans that are dependent upon rental income are primarily impacted by local economic conditions which dictate occupancy rates and the amount of rent charged. Commercial construction loans consist of borrowings to purchase and develop raw land into 1-4 family residential properties. Construction loans are extended to individuals as well as corporations for the construction of an individual or multiple properties and are secured by raw land and the subsequent improvements. Repayment of the loans to real estate developers is dependent upon the sale of properties to third parties in a timely fashion upon completion. Should there be delays in construction or a downturn in the market for those properties, there may be significant erosion in value which may be absorbed by the Company. | |||||||||
Residential real estate loans consist of loans to individuals for the purchase of 1-4 family primary residences with repayment primarily through wage or other income sources of the individual borrower. The Company’s loss exposure to these loans is dependent on local market conditions for residential properties as loan amounts are determined, in part, by the fair value of the property at origination. | |||||||||
Consumer loans are comprised of loans to individuals secured by automobiles, open-end home equity loans and other loans to individuals for household, family, and other personal expenditures, both secured and unsecured. These loans typically have maturities of 6 years or less with repayment dependent on individual wages and income. The risk of loss on consumer loans is elevated as the collateral securing these loans, if any, rapidly depreciate in value or may be worthless and/or difficult to locate if repossession is necessary. The Company has allocated the highest percentage of its allowance for loan losses as a percentage of loans to the other identified loan portfolio segments due to the larger dollar balances associated with such portfolios. | |||||||||
At December 31, 2014, there were no changes to the accounting policies or methodologies within any of the Company’s loan portfolio segments from the prior period. | |||||||||
Concentrations of Credit Risk: The Company grants residential, consumer and commercial loans to customers located primarily in the southeastern Ohio and western West Virginia areas. | |||||||||
The following represents the composition of the Company’s loan portfolio as of December 31: | |||||||||
% of Total Loans | |||||||||
2014 | 2013 | ||||||||
Residential real estate loans | 37.6 | % | 38.73 | % | |||||
Commercial real estate loans | 29.86 | % | 32.47 | % | |||||
Consumer loans | 18.42 | % | 18.06 | % | |||||
Commercial and industrial loans | 14.12 | % | 10.74 | % | |||||
100 | % | 100 | % | ||||||
Approximately 5.66% of total loans were unsecured at December 31, 2014, up from 5.13% at December 31, 2013. | |||||||||
The Bank, in the normal course of its operations, conducts business with correspondent financial institutions. Balances in correspondent accounts, investments in federal funds, certificates of deposit and other short-term securities are closely monitored to ensure that prudent levels of credit and liquidity risks are maintained. At December 31, 2014, the Bank’s primary correspondent balance was $20,796 on deposit at the Federal Reserve Bank, Cleveland, Ohio. | |||||||||
Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation, which is computed using the straight-line or declining balance methods over the estimated useful life of the owned asset and, for leasehold improvement, over the remaining term of the leased facility, whichever is shorter. The useful lives range from 3 to 8 years for equipment, furniture and fixtures and 7 to 39 years for buildings and improvements. | |||||||||
Foreclosed assets: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating costs after acquisition are expensed. Foreclosed assets totaled $1,525 and $1,354 at December 31, 2014 and 2013. | |||||||||
Goodwill: Goodwill resulting from business combinations prior to January 1, 2009 represents the excess of the purchase price over the fair value of the net assets of businesses acquired. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually. Goodwill is the only intangible asset with an indefinite life on our balance sheet. The Company has selected December 31, 2014 as the date to perform its annual qualitative impairment test. Given that the Company has been profitable and had positive equity, the qualitative assessment indicated that it was more likely than not that the fair value of goodwill was more than the carrying amount, resulting in no impairment. | |||||||||
Long-term Assets: Premises and equipment and other long-term assets are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. | |||||||||
Mortgage Servicing Rights: A mortgage servicing right (“MSR”) is a contractual agreement where the right to service a mortgage loan is sold by the original lender to another party. When the Company sells mortgage loans to the secondary market, it retains the servicing rights to these loans. The Company’s MSR is recognized separately when acquired through sales of loans and is initially recorded at fair value with the income statement effect recorded in mortgage banking income. Subsequently, the MSR is then amortized in proportion to and over the period of estimated future servicing income of the underlying loan. The MSR is then evaluated for impairment periodically based upon the fair value of the rights as compared to the carrying amount, with any impairment being recognized through a valuation allowance. Fair value of the MSR is based on market prices for comparable mortgage servicing contracts. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. At December 31, 2014 and 2013, the Company’s MSR asset portfolio was $484 and $534, respectively. | |||||||||
Earnings Per Share: Earnings per share is based on net income divided by the following weighted average number of common shares outstanding during the periods: 4,099,194 for 2014; 4,064,083 for 2013; 4,030,322 for 2012. Ohio Valley had no dilutive securities outstanding for any period presented. | |||||||||
Income Taxes: Income tax expense is the sum of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. | |||||||||
A tax position is recognized as a benefit only if it is ”more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the ”more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. | |||||||||
Comprehensive Income: Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale which are also recognized as separate components of equity, net of tax. | |||||||||
Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there now are such matters that will have a material effect on the financial statements. | |||||||||
Bank Owned Life Insurance and Annuity Assets: The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. The Company also purchased an annuity investment for a certain key executive that earns interest. | |||||||||
Employee Stock Ownership Plan: Compensation expense is based on the market price of shares as they are committed to be allocated to participant accounts. | |||||||||
Loan Commitments and Related Financial Instruments: Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. These financial instruments are recorded when they are funded. See Note J for more specific disclosure related to loan commitments. | |||||||||
Dividend Restrictions: Banking regulations require maintaining certain capital levels and may limit the dividends paid by the Bank to Ohio Valley or by Ohio Valley to its shareholders. See Note N for more specific disclosure related to dividend restrictions. | |||||||||
Restrictions on Cash: Cash on hand or on deposit with a third-party correspondent and the Federal Reserve Bank of $22,122 and $19,268 was required to meet regulatory reserve and clearing requirements at year-end 2014 and 2013. The balances on deposit with a third-party correspondent do not earn interest. | |||||||||
Derivatives: At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation (“stand-alone derivative”). | |||||||||
Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. | |||||||||
At December 31, 2014 and 2013, the Company’s only derivatives on hand were interest rate swaps, which are classified as stand-alone derivatives. See Note F for more specific disclosures related to interest rate swaps. | |||||||||
Fair Value of Financial Instruments: Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note M. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. | |||||||||
Reclassifications: The consolidated financial statements for 2013 and 2012 have been reclassified to conform with the presentation for 2014. These reclassifications had no effect on the net results of operations or shareholders’ equity. | |||||||||
Adoption of New Accounting Standards: In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2014-04, "Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40)" (ASU 2014-04). The amendments in ASU 2014-04 clarify the circumstances under which an in substance repossession or foreclosure occurs and when a creditor is considered to have received physical possession of a residential real estate property collateralizing a residential real estate loan. The amendments in ASU 2014-04 also require interim and annual disclosure of the amount of foreclosed residential real estate property held by the creditor and the recorded investment in loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU 2014-04 was effective for reporting periods beginning after December 15, 2014. The effect of adopting ASU 2014-04 did not have a material effect on the Company’s financial statements. | |||||||||
In May 2014, FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). The ASU creates a new topic, Topic 606, to provide guidance on revenue recognition for entities that enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additional disclosures are required to provide quantitative and qualitative information regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2016. Early adoption is not permitted. Management is currently evaluating the impact of the adoption of this guidance on the Company's financial statements. |
Note_2_Securities
Note 2 - Securities | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note B - Securities | ||||||||||||||||||||||||
The following table summarizes the amortized cost and fair value of securities available for sale and securities held to maturity at December 31, 2014 and 2013 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses: | |||||||||||||||||||||||||
Amortized | Gross Unrealized | Gross Unrealized | Estimated | ||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
U.S. Government sponsored entity securities | $ | 9,019 | $ | 2 | (104 | ) | $ | 8,917 | |||||||||||||||||
Agency mortgage-backed securities, residential | 74,762 | 1,693 | (136 | ) | 76,319 | ||||||||||||||||||||
Total securities | $ | 83,781 | $ | 1,695 | (240 | ) | $ | 85,236 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
U.S. Government sponsored entity securities | $ | 9,028 | $ | 4 | (180 | ) | $ | 8,852 | |||||||||||||||||
Agency mortgage-backed securities, residential | 74,661 | 1,257 | (702 | ) | 75,216 | ||||||||||||||||||||
Total securities | $ | 83,689 | $ | 1,261 | (882 | ) | $ | 84,068 | |||||||||||||||||
Amortized | Gross Unrecognized | Gross Unrecognized | Estimated | ||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 22,811 | $ | 939 | $ | (189 | ) | $ | 23,561 | ||||||||||||||||
Agency mortgage-backed securities, residential | 9 | ---- | ---- | 9 | |||||||||||||||||||||
Total securities | $ | 22,820 | $ | 939 | $ | (189 | ) | $ | 23,570 | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 22,814 | $ | 579 | $ | (421 | ) | $ | 22,972 | ||||||||||||||||
Agency mortgage-backed securities, residential | 12 | ---- | ---- | 12 | |||||||||||||||||||||
Total securities | $ | 22,826 | $ | 579 | $ | (421 | ) | $ | 22,984 | ||||||||||||||||
At year-end 2014 and 2013, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of shareholders’ equity. | |||||||||||||||||||||||||
There were no sales of debt securities during 2014, 2013 and 2012. | |||||||||||||||||||||||||
Securities with a carrying value of approximately $68,238 at December 31, 2014 and $62,324 at December 31, 2013 were pledged to secure public deposits and repurchase agreements and for other purposes as required or permitted by law. | |||||||||||||||||||||||||
The amortized cost and estimated fair value of debt securities at December 31, 2014, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers may have the right to call or prepay the debt obligations prior to their contractual maturities. Securities not due at a single maturity are shown separately. | |||||||||||||||||||||||||
Available for Sale | Held to Maturity | ||||||||||||||||||||||||
Debt Securities: | Amortized | Estimated | Amortized | Estimated | |||||||||||||||||||||
Cost | Fair | Cost | Fair | ||||||||||||||||||||||
Value | Value | ||||||||||||||||||||||||
Due in one year or less | $ | ---- | $ | ---- | $ | 131 | $ | 131 | |||||||||||||||||
Due in one to five years | 9,019 | 8,917 | 7,459 | 7,874 | |||||||||||||||||||||
Due in five to ten years | ---- | ---- | 11,702 | 12,053 | |||||||||||||||||||||
Due after ten years | ---- | ---- | 3,519 | 3,503 | |||||||||||||||||||||
Agency mortgage-backed securities, residential | 74,762 | 76,319 | 9 | 9 | |||||||||||||||||||||
Total debt securities | $ | 83,781 | $ | 85,236 | $ | 22,820 | $ | 23,570 | |||||||||||||||||
The following table summarizes securities with unrealized losses at December 31, 2014 and December 31, 2013, aggregated by major security type and length of time in a continuous unrealized loss position: | |||||||||||||||||||||||||
31-Dec-14 | Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Securities Available for Sale | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. Government sponsored entity securities | $ | ---- | $ | ---- | $ | 7,911 | $ | (104 | ) | $ | 7,911 | $ | (104 | ) | |||||||||||
Agency mortgage-backed securities, residential | 11,232 | (20 | ) | 8,397 | (116 | ) | 19,629 | (136 | ) | ||||||||||||||||
Total available for sale | $ | 11,232 | $ | (20 | ) | $ | 16,308 | $ | (220 | ) | $ | 27,540 | $ | (240 | ) | ||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Securities Held to Maturity | Fair | Unrecognized | Fair | Unrecognized | Fair | Unrecognized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Obligations of states and political subdivisions | $ | 1,171 | $ | (9 | ) | $ | 2,916 | $ | (180 | ) | $ | 4,087 | $ | (189 | ) | ||||||||||
Total held to maturity | $ | 1,171 | $ | (9 | ) | $ | 2,916 | $ | (180 | ) | $ | 4,087 | $ | (189 | ) | ||||||||||
31-Dec-13 | Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Securities Available for Sale | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. Government sponsored entity securities | $ | 7,841 | $ | (180 | ) | $ | ---- | $ | ---- | $ | 7,841 | $ | (180 | ) | |||||||||||
Agency mortgage-backed securities, residential | 25,775 | (702 | ) | ---- | ---- | 25,775 | (702 | ) | |||||||||||||||||
Total available for sale | $ | 33,616 | $ | (882 | ) | $ | ---- | $ | ---- | $ | 33,616 | $ | (882 | ) | |||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Securities Held to Maturity | Fair | Unrecognized | Fair | Unrecognized | Fair | Unrecognized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Obligations of states and political subdivisions | $ | 6,743 | $ | (307 | ) | $ | 1,142 | $ | (114 | ) | $ | 7,885 | $ | (421 | ) | ||||||||||
Total held to maturity | $ | 6,743 | $ | (307 | ) | $ | 1,142 | $ | (114 | ) | $ | 7,885 | $ | (421 | ) | ||||||||||
Unrealized losses on the Company’s debt securities have not been recognized into income because the issuers’ securities are of high credit quality as of December 31, 2014, and management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery. Management does not believe any individual unrealized loss at December 31, 2014 and 2013 represents an other-than-temporary impairment. |
Note_3_Loans_and_Allowance_for
Note 3 - Loans and Allowance for Loan Losses | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note C - Loans and Allowance for Loan Losses | ||||||||||||||||||||||||
Loans are comprised of the following at December 31: | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Residential real estate | $ | 223,628 | $ | 219,365 | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 78,848 | 83,988 | |||||||||||||||||||||||
Nonowner-occupied | 71,229 | 74,047 | |||||||||||||||||||||||
Construction | 27,535 | 25,836 | |||||||||||||||||||||||
Commercial and industrial | 83,998 | 60,803 | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Automobile | 42,849 | 38,811 | |||||||||||||||||||||||
Home equity | 18,291 | 17,748 | |||||||||||||||||||||||
Other | 48,390 | 45,721 | |||||||||||||||||||||||
594,768 | 566,319 | ||||||||||||||||||||||||
Less: Allowance for loan losses | 8,334 | 6,155 | |||||||||||||||||||||||
Loans, net | $ | 586,434 | $ | 560,164 | |||||||||||||||||||||
The following table presents the activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||||||||||||
31-Dec-14 | Residential | Commercial | Commercial | Consumer | Total | ||||||||||||||||||||
Real Estate | Real Estate | & Industrial | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 1,169 | $ | 2,914 | $ | 1,279 | $ | 793 | $ | 6,155 | |||||||||||||||
Provision for loan losses | 458 | 1,408 | (28 | ) | 949 | 2,787 | |||||||||||||||||||
Loans charged off | (487 | ) | (235 | ) | (41 | ) | (1,216 | ) | (1,979 | ) | |||||||||||||||
Recoveries | 286 | 108 | 392 | 585 | 1,371 | ||||||||||||||||||||
Total ending allowance balance | $ | 1,426 | $ | 4,195 | $ | 1,602 | $ | 1,111 | $ | 8,334 | |||||||||||||||
31-Dec-13 | Residential | Commercial | Commercial | Consumer | Total | ||||||||||||||||||||
Real Estate | Real Estate | & Industrial | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 1,329 | $ | 3,946 | $ | 783 | $ | 847 | $ | 6,905 | |||||||||||||||
Provision for loan losses | 377 | (1,375 | ) | 1,031 | 444 | 477 | |||||||||||||||||||
Loans charged off | (819 | ) | (2 | ) | (600 | ) | (1,279 | ) | (2,700 | ) | |||||||||||||||
Recoveries | 282 | 345 | 65 | 781 | 1,473 | ||||||||||||||||||||
Total ending allowance balance | $ | 1,169 | $ | 2,914 | $ | 1,279 | $ | 793 | $ | 6,155 | |||||||||||||||
31-Dec-12 | Residential | Commercial | Commercial | Consumer | Total | ||||||||||||||||||||
Real Estate | Real Estate | & Industrial | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 1,860 | $ | 3,493 | $ | 636 | $ | 1,355 | $ | 7,344 | |||||||||||||||
Provision for loan losses | 395 | 2,788 | (1,802 | ) | 202 | 1,583 | |||||||||||||||||||
Loans charged off | (1,066 | ) | (2,378 | ) | (70 | ) | (1,622 | ) | (5,136 | ) | |||||||||||||||
Recoveries | 140 | 43 | 2,019 | 912 | 3,114 | ||||||||||||||||||||
Total ending allowance balance | $ | 1,329 | $ | 3,946 | $ | 783 | $ | 847 | $ | 6,905 | |||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment of loans by portfolio segment and based on impairment method as of December 31, 2014 and 2013: | |||||||||||||||||||||||||
31-Dec-14 | Residential | Commercial | Commercial | Consumer | Total | ||||||||||||||||||||
Real Estate | Real Estate | & Industrial | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | ---- | $ | 2,506 | $ | 900 | $ | 6 | $ | 3,412 | |||||||||||||||
Collectively evaluated for impairment | 1,426 | 1,689 | 702 | 1,105 | 4,922 | ||||||||||||||||||||
Total ending allowance balance | $ | 1,426 | $ | 4,195 | $ | 1,602 | $ | 1,111 | $ | 8,334 | |||||||||||||||
Loans: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 1,415 | $ | 11,711 | $ | 6,824 | $ | 219 | $ | 20,169 | |||||||||||||||
Loans collectively evaluated for impairment | 222,213 | 165,901 | 77,174 | 109,311 | 574,599 | ||||||||||||||||||||
Total ending loans balance | $ | 223,628 | $ | 177,612 | $ | 83,998 | $ | 109,530 | $ | 594,768 | |||||||||||||||
31-Dec-13 | Residential | Commercial | Commercial | Consumer | Total | ||||||||||||||||||||
Real Estate | Real Estate | & Industrial | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 93 | $ | 1,661 | $ | 864 | $ | 7 | $ | 2,625 | |||||||||||||||
Collectively evaluated for impairment | 1,076 | 1,253 | 415 | 786 | 3,530 | ||||||||||||||||||||
Total ending allowance balance | $ | 1,169 | $ | 2,914 | $ | 1,279 | $ | 793 | $ | 6,155 | |||||||||||||||
Loans: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 1,019 | $ | 10,801 | $ | 2,658 | $ | 218 | $ | 14,696 | |||||||||||||||
Loans collectively evaluated for impairment | 218,346 | 173,070 | 58,145 | 102,062 | 551,623 | ||||||||||||||||||||
Total ending loans balance | $ | 219,365 | $ | 183,871 | $ | 60,803 | $ | 102,280 | $ | 566,319 | |||||||||||||||
The following table presents information related to loans individually evaluated for impairment by class of loans as of the years ended December 31, 2014, 2013 and 2012: | |||||||||||||||||||||||||
31-Dec-14 | Unpaid | Recorded | Allowance | Average | Interest | Cash Basis | |||||||||||||||||||
Principal | Investment | for | Impaired | Income | Interest | ||||||||||||||||||||
Balance | Loan Losses | Loans | Recognized | Recognized | |||||||||||||||||||||
Allocated | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Residential real estate | $ | ---- | $ | ---- | $ | ---- | $ | ---- | $ | 6 | $ | 6 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 1,177 | 1,177 | 414 | 471 | 32 | 32 | |||||||||||||||||||
Nonowner-occupied | 7,656 | 7,656 | 2,092 | 8,303 | 398 | 398 | |||||||||||||||||||
Commercial and industrial | 2,356 | 2,356 | 900 | 2,441 | 110 | 110 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | 219 | 219 | 6 | 219 | 7 | 7 | |||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Residential real estate | 1,415 | 1,415 | ---- | 882 | 58 | 58 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 3,125 | 2,578 | ---- | 2,135 | 113 | 113 | |||||||||||||||||||
Nonowner-occupied | 1,298 | 300 | ---- | 300 | 50 | 50 | |||||||||||||||||||
Commercial and industrial | 4,703 | 4,468 | ---- | 2,278 | 180 | 180 | |||||||||||||||||||
Total | $ | 21,949 | $ | 20,169 | $ | 3,412 | $ | 17,029 | $ | 954 | $ | 954 | |||||||||||||
31-Dec-13 | Unpaid | Recorded | Allowance | Average | Interest | Cash Basis | |||||||||||||||||||
Principal | Investment | for | Impaired | Income | Interest | ||||||||||||||||||||
Balance | Loan Losses | Loans | Recognized | Recognized | |||||||||||||||||||||
Allocated | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Residential real estate | $ | 253 | $ | 253 | $ | 93 | $ | 101 | $ | 12 | $ | 12 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 290 | 290 | 157 | 116 | ---- | ---- | |||||||||||||||||||
Nonowner-occupied | 3,776 | 3,776 | 1,504 | 3,846 | 187 | 187 | |||||||||||||||||||
Commercial and industrial | 2,658 | 2,658 | 864 | 1,836 | 142 | 142 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | 218 | 218 | 7 | 87 | 9 | 9 | |||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Residential real estate | 766 | 766 | ---- | 539 | 47 | 47 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 2,188 | 1,641 | ---- | 1,469 | 73 | 73 | |||||||||||||||||||
Nonowner-occupied | 6,106 | 5,094 | ---- | 5,699 | 311 | 311 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | ---- | ---- | ---- | ---- | 3 | 3 | |||||||||||||||||||
Total | $ | 16,255 | $ | 14,696 | $ | 2,625 | $ | 13,693 | $ | 784 | $ | 784 | |||||||||||||
31-Dec-12 | Unpaid | Recorded | Allowance | Average | Interest | Cash Basis | |||||||||||||||||||
Principal | Investment | for | Impaired | Income | Interest | ||||||||||||||||||||
Balance | Loan Losses | Loans | Recognized | Recognized | |||||||||||||||||||||
Allocated | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Nonowner-occupied | $ | 2,399 | $ | 2,399 | $ | 2,107 | $ | 1,552 | $ | 61 | $ | 61 | |||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Residential real estate | 619 | 407 | ---- | 493 | ---- | ---- | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 6,198 | 6,198 | ---- | 4,998 | 354 | 354 | |||||||||||||||||||
Nonowner-occupied | 9,841 | 8,177 | ---- | 4,498 | 440 | 440 | |||||||||||||||||||
Commercial and industrial | ---- | ---- | ---- | ---- | ---- | ---- | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | 220 | 220 | ---- | 176 | 9 | 9 | |||||||||||||||||||
Total | $ | 19,277 | $ | 17,401 | $ | 2,107 | $ | 11,717 | $ | 864 | $ | 864 | |||||||||||||
The recorded investment of a loan is its carrying value excluding accrued interest and deferred loan fees. | |||||||||||||||||||||||||
Nonaccrual loans and loans past due 90 days or more and still accruing include both smaller balance homogenous loans that are collectively evaluated for impairment and individually classified as impaired loans. | |||||||||||||||||||||||||
The following table presents the recorded investment of nonaccrual loans and loans past due 90 days or more and still accruing by class of loans as of December 31, 2014 and 2013: | |||||||||||||||||||||||||
Loans Past Due | Nonaccrual | ||||||||||||||||||||||||
90 Days | |||||||||||||||||||||||||
And Still | |||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Residential real estate | $ | ---- | $ | 3,768 | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | ---- | 1,484 | |||||||||||||||||||||||
Nonowner-occupied | ---- | 4,013 | |||||||||||||||||||||||
Commercial and industrial | ---- | 95 | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Automobile | 15 | 18 | |||||||||||||||||||||||
Home equity | ---- | 103 | |||||||||||||||||||||||
Other | 58 | 68 | |||||||||||||||||||||||
Total | $ | 73 | $ | 9,549 | |||||||||||||||||||||
Loans Past Due | Nonaccrual | ||||||||||||||||||||||||
90 Days | |||||||||||||||||||||||||
And Still | |||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Residential real estate | $ | 72 | $ | 2,662 | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | ---- | 799 | |||||||||||||||||||||||
Nonowner-occupied | ---- | 52 | |||||||||||||||||||||||
Commercial and industrial | ---- | 21 | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Automobile | 5 | 8 | |||||||||||||||||||||||
Home equity | ---- | 38 | |||||||||||||||||||||||
Other | 1 | ---- | |||||||||||||||||||||||
Total | $ | 78 | $ | 3,580 | |||||||||||||||||||||
The following table presents the aging of the recorded investment of past due loans by class of loans as of December 31, 2014 and 2013: | |||||||||||||||||||||||||
31-Dec-14 | 30-59 | 60-89 | 90 Days | Total | Loans Not | Total | |||||||||||||||||||
Days | Days | Or More | Past Due | Past Due | |||||||||||||||||||||
Past Due | Past Due | Past Due | |||||||||||||||||||||||
Residential real estate | $ | 3,337 | $ | 612 | $ | 3,489 | $ | 7,438 | $ | 216,190 | $ | 223,628 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 74 | 62 | 1,422 | 1,558 | 77,290 | 78,848 | |||||||||||||||||||
Nonowner-occupied | ---- | ---- | ---- | ---- | 71,229 | 71,229 | |||||||||||||||||||
Construction | 932 | ---- | ---- | 932 | 26,603 | 27,535 | |||||||||||||||||||
Commercial and industrial | ---- | 10 | 24 | 34 | 83,964 | 83,998 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Automobile | 616 | 149 | 33 | 798 | 42,051 | 42,849 | |||||||||||||||||||
Home equity | ---- | ---- | 103 | 103 | 18,188 | 18,291 | |||||||||||||||||||
Other | 655 | 20 | 126 | 801 | 47,589 | 48,390 | |||||||||||||||||||
Total | $ | 5,614 | $ | 853 | $ | 5,197 | $ | 11,664 | $ | 583,104 | $ | 594,768 | |||||||||||||
31-Dec-13 | 30-59 | 60-89 | 90 Days | Total | Loans Not | Total | |||||||||||||||||||
Days | Days | Or More | Past Due | Past Due | |||||||||||||||||||||
Past Due | Past Due | Past Due | |||||||||||||||||||||||
Residential real estate | $ | 3,922 | $ | 1,324 | $ | 2,620 | $ | 7,866 | $ | 211,499 | $ | 219,365 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 206 | 100 | 683 | 989 | 82,999 | 83,988 | |||||||||||||||||||
Nonowner-occupied | ---- | ---- | 52 | 52 | 73,995 | 74,047 | |||||||||||||||||||
Construction | 60 | ---- | ---- | 60 | 25,776 | 25,836 | |||||||||||||||||||
Commercial and industrial | 193 | 49 | 21 | 263 | 60,540 | 60,803 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Automobile | 638 | 123 | 13 | 774 | 38,037 | 38,811 | |||||||||||||||||||
Home equity | ---- | ---- | 38 | 38 | 17,710 | 17,748 | |||||||||||||||||||
Other | 651 | 38 | 1 | 690 | 45,031 | 45,721 | |||||||||||||||||||
Total | $ | 5,670 | $ | 1,634 | $ | 3,428 | $ | 10,732 | $ | 555,587 | $ | 566,319 | |||||||||||||
Troubled Debt Restructurings: | |||||||||||||||||||||||||
A troubled debt restructuring (“TDR”) occurs when the Company has agreed to a loan modification in the form of a concession for a borrower who is experiencing financial difficulty. All TDR’s are considered to be impaired. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; a reduction in the contractual principal and interest payments of the loan; or short-term interest-only payment terms. | |||||||||||||||||||||||||
The Company has allocated reserves for a portion of its TDR’s to reflect the fair values of the underlying collateral or the present value of the concessionary terms granted to the customer. | |||||||||||||||||||||||||
The following table presents the types of TDR loan modifications by class of loans as of December 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||
TDR’s | TDR’s Not | Total | |||||||||||||||||||||||
Performing to | Performing to | TDR’s | |||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Residential real estate | |||||||||||||||||||||||||
Interest only payments | $ | 520 | $ | ---- | $ | 520 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | |||||||||||||||||||||||||
Interest only payments | 457 | ---- | 457 | ||||||||||||||||||||||
Rate reduction | ---- | 244 | 244 | ||||||||||||||||||||||
Reduction of principal and interest payments | 627 | ---- | 627 | ||||||||||||||||||||||
Maturity extension at lower stated rate than market rate | 1,046 | ---- | 1,046 | ||||||||||||||||||||||
Credit extension at lower stated rate than market rate | 204 | ---- | 204 | ||||||||||||||||||||||
Nonowner-occupied | |||||||||||||||||||||||||
Interest only payments | 3,535 | 4,013 | 7,548 | ||||||||||||||||||||||
Rate reduction | 408 | ---- | 408 | ||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||
Interest only payments | 6,429 | ---- | 6,429 | ||||||||||||||||||||||
Credit extension at lower stated rate than market rate | 395 | ---- | 395 | ||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||
Maturity extension at lower stated rate than market rate | 219 | ---- | 219 | ||||||||||||||||||||||
Total TDR’s | $ | 13,840 | $ | 4,257 | $ | 18,097 | |||||||||||||||||||
TDR’s | TDR’s Not | Total | |||||||||||||||||||||||
Performing to | Performing to | TDR’s | |||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Residential real estate | |||||||||||||||||||||||||
Interest only payments | $ | 527 | $ | ---- | $ | 527 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | |||||||||||||||||||||||||
Rate reduction | ---- | 259 | 259 | ||||||||||||||||||||||
Reduction of principal and interest payments | 650 | ---- | 650 | ||||||||||||||||||||||
Maturity extension at lower stated rate than market rate | 271 | ---- | 271 | ||||||||||||||||||||||
Nonowner-occupied | |||||||||||||||||||||||||
Interest only payments | 8,450 | ---- | 8,450 | ||||||||||||||||||||||
Rate reduction | 420 | ---- | 420 | ||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||
Interest only payments | 1,811 | ---- | 1,811 | ||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||
Maturity extension at lower stated rate than market rate | 218 | ---- | 218 | ||||||||||||||||||||||
Total TDR’s | $ | 12,347 | $ | 259 | $ | 12,606 | |||||||||||||||||||
During the year ended December 31, 2014, the TDR's described above increased the allowance for loan losses and provision expense by $623 with no corresponding charge-offs. During the year ended December 31, 2013, the TDR's described above decreased the allowance for loan losses by $321 with no corresponding charge-offs. This resulted in a decrease to provision expense of $871 during the year ended December 31, 2013. During the year ended December 31, 2012, TDR's increased the allowance for loan losses and provision expense by $2,169, resulting in charge-offs of $536. | |||||||||||||||||||||||||
At December 31, 2014, the balance in TDR loans increased $5,491, or 43.6%, from year-end 2013. The increase was largely due to the modification of three commercial loans totaling $4,819 at December 31, 2014. During the second quarter of 2014, the contractual terms of two commercial and industrial loans totaling $4,073 were adjusted to permit short-term, interest-only payments, which created a concession to the borrower. During the second quarter of 2014, the contractual maturity of one commercial real estate loan totaling $746 was extended at an interest rate lower than the current market rate for new debt with similar risk, which created a concession to the borrower. | |||||||||||||||||||||||||
In addition, a commercial real estate TDR loan totaling $4,013 was converted to nonaccrual status during the fourth quarter of 2014 after it was determined that full loan repayment was in significant doubt. As a result, the Company finished with 76% of its TDR's performing according to their modified terms at December 31, 2014, as compared to 98% at December 31, 2013. Furthermore, the collateral values of this commercial real estate loan were re-evaluated during the fourth quarter of 2014 and additional impairment was identified that resulted in a $1,340 specific allocation. As a result, the Company's specific allocations in reserves to customers whose loan terms have been modified in TDR’s totaled $2,998 at December 31, 2014, as compared to $1,511 in reserves at December 31, 2013. At December 31, 2014, the Company had $1,871 in commitments to lend additional amounts to customers with outstanding loans that are classified as TDR’s, as compared to $718 at December 31, 2013. | |||||||||||||||||||||||||
The following table presents the pre- and post-modification balances of TDR loan modifications by class of loans that occurred during the years ended December 31, 2014 and 2013: | |||||||||||||||||||||||||
TDR’s | TDR’s Not | ||||||||||||||||||||||||
Performing to Modified | Performing to Modified | ||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | |||||||||||||||||||||||||
Interest only payments | $ | 457 | $ | 457 | ---- | ---- | |||||||||||||||||||
Maturity extension at lower stated rate than market rate | 746 | 746 | ---- | ---- | |||||||||||||||||||||
Credit extension at lower stated rate than market rate | 204 | 204 | |||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||
Interest only payments | 4,073 | 4,073 | ---- | ---- | |||||||||||||||||||||
Credit extension at lower stated rate than market rate | 395 | 395 | ---- | ---- | |||||||||||||||||||||
Total TDR’s | $ | 5,875 | $ | 5,875 | ---- | ---- | |||||||||||||||||||
TDR’s | TDR’s Not | ||||||||||||||||||||||||
Performing to Modified | Performing to Modified | ||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Residential real estate | |||||||||||||||||||||||||
Interest only payments | $ | 527 | $ | 527 | ---- | ---- | |||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||
Interest only payments | 1,811 | 1,811 | ---- | ---- | |||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||
Maturity extension at lower stated rate than market rate | 218 | 218 | ---- | ---- | |||||||||||||||||||||
Total TDR’s | $ | 2,556 | $ | 2,556 | ---- | ---- | |||||||||||||||||||
All of the Company’s loans that were restructured during the years ended December 31, 2014 and 2013 were performing in accordance with their modified terms. Furthermore, there were no TDR’s described above at December 31, 2014 and 2013 that experienced any payment defaults within twelve months following their loan modification. A default is considered to have occurred once the TDR is past due 90 days or more or it has been placed on nonaccrual. TDR loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The loans modified during the year ended December 31, 2014 had no impact on the provision expense or the allowance for loan losses. As a result, at December 31, 2014, the Company had no allocation of reserves to customers whose loan terms were modified during the year ended December 31, 2014. The loans modified during the year ended December 31, 2013 increased provision expense and the allowance for loan losses by $7. As a result, at December 31, 2013, the Company had an allocation of reserves totaling $7 to customers whose loan terms had been modified during the year ended December 31, 2013. | |||||||||||||||||||||||||
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. These risk categories are represented by a loan grading scale from 1 through 10. The Company analyzes loans individually with a higher credit risk rating and groups these loans into categories called “criticized” and ”classified” assets. The Company considers its criticized assets to be loans that are graded 8 and its classified assets to be loans that are graded 9 through 10. The Company’s risk categories are reviewed at least annually on loans that have aggregate borrowing amounts that meet or exceed $500. | |||||||||||||||||||||||||
The Company uses the following definitions for its criticized loan risk ratings: | |||||||||||||||||||||||||
Special Mention (Loan Grade 8). Loans classified as special mention indicate considerable risk due to deterioration of repayment (in the earliest stages) due to potential weak primary repayment source, or payment delinquency. These loans will be under constant supervision, are not classified and do not expose the institution to sufficient risks to warrant classification. These deficiencies should be correctable within the normal course of business, although significant changes in company structure or policy may be necessary to correct the deficiencies. These loans are considered bankable assets with no apparent loss of principal or interest envisioned. The perceived risk in continued lending is considered to have increased beyond the level where such loans would normally be granted. Credits that are defined as a troubled debt restructuring should be graded no higher than special mention until they have been reported as performing over one year after restructuring. | |||||||||||||||||||||||||
The Company uses the following definitions for its classified loan risk ratings: | |||||||||||||||||||||||||
Substandard (Loan Grade 9). Loans classified as substandard represent very high risk, serious delinquency, nonaccrual, or unacceptable credit. Repayment through the primary source of repayment is in jeopardy due to the existence of one or more well defined weaknesses and the collateral pledged may inadequately protect collection of the loans. Loss of principal is not likely if weaknesses are corrected, although financial statements normally reveal significant weakness. Loans are still considered collectible, although loss of principal is more likely than with special mention loan grade 8 loans. Collateral liquidation considered likely to satisfy debt. | |||||||||||||||||||||||||
Doubtful (Loan Grade 10). Loans classified as doubtful display a high probability of loss, although the amount of actual loss at the time of classification is undetermined. This should be a temporary category until such time that actual loss can be identified, or improvements made to reduce the seriousness of the classification. These loans exhibit all substandard characteristics with the addition that weaknesses make collection or liquidation in full highly questionable and improbable. This classification consists of loans where the possibility of loss is high after collateral liquidation based upon existing facts, market conditions, and value. Loss is deferred until certain important and reasonable specific pending factors which may strengthen the credit can be more accurately determined. These factors may include proposed acquisitions, liquidation procedures, capital injection, receipt of additional collateral, mergers, or refinancing plans. A doubtful classification for an entire credit should be avoided when collection of a specific portion appears highly probable with the adequately secured portion graded substandard. | |||||||||||||||||||||||||
Criticized and classified loans will mostly consist of commercial and industrial and commercial real estate loans. The Company considers its loans that do not meet the criteria for a criticized and classified asset rating as pass rated loans, which will include loans graded from 1 (Prime) to 7 (Watch). All commercial loans are categorized into a risk category either at the time of origination or re-evaluation date. As of December 31, 2014 and December 31, 2013, and based on the most recent analysis performed, the risk category of commercial loans by class of loans is as follows: | |||||||||||||||||||||||||
31-Dec-14 | Pass | Criticized | Classified | Total | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | $ | 72,232 | $ | 2,102 | $ | 4,514 | $ | 78,848 | |||||||||||||||||
Nonowner-occupied | 60,491 | 2,127 | 8,611 | 71,229 | |||||||||||||||||||||
Construction | 27,364 | ---- | 171 | 27,535 | |||||||||||||||||||||
Commercial and industrial | 76,395 | 495 | 7,108 | 83,998 | |||||||||||||||||||||
Total | $ | 236,482 | $ | 4,724 | $ | 20,404 | $ | 261,610 | |||||||||||||||||
31-Dec-13 | Pass | Criticized | Classified | Total | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | $ | 76,677 | $ | 5,310 | $ | 2,001 | $ | 83,988 | |||||||||||||||||
Nonowner-occupied | 62,301 | 7,107 | 4,639 | 74,047 | |||||||||||||||||||||
Construction | 24,545 | ---- | 1,291 | 25,836 | |||||||||||||||||||||
Commercial and industrial | 53,416 | 4,081 | 3,306 | 60,803 | |||||||||||||||||||||
Total | $ | 216,939 | $ | 16,498 | $ | 11,237 | $ | 244,674 | |||||||||||||||||
The Company also obtains the credit scores of its borrowers upon origination (if available by the credit bureau) but are not updated. The Company focuses mostly on the performance and repayment ability of the borrower as an indicator of credit risk and does not consider a borrower’s credit score to be a significant influence in the determination of a loan’s credit risk grading. | |||||||||||||||||||||||||
For residential and consumer loan classes, the Company evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment of residential and consumer loans by class of loans based on payment activity as of December 31, 2014 and December 31, 2013: | |||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||
31-Dec-14 | Automobile | Home Equity | Other | Residential | Total | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Performing | $ | 42,816 | $ | 18,188 | $ | 48,264 | $ | 219,860 | $ | 329,128 | |||||||||||||||
Nonperforming | 33 | 103 | 126 | 3,768 | 4,030 | ||||||||||||||||||||
Total | $ | 42,849 | $ | 18,291 | $ | 48,390 | $ | 223,628 | $ | 333,158 | |||||||||||||||
Consumer | |||||||||||||||||||||||||
31-Dec-13 | Automobile | Home Equity | Other | Residential | Total | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Performing | $ | 38,798 | $ | 17,710 | $ | 45,720 | $ | 216,631 | $ | 318,859 | |||||||||||||||
Nonperforming | 13 | 38 | 1 | 2,734 | 2,786 | ||||||||||||||||||||
Total | $ | 38,811 | $ | 17,748 | $ | 45,721 | $ | 219,365 | $ | 321,645 | |||||||||||||||
The Company, through its subsidiaries, grants residential, consumer, and commercial loans to customers located primarily in the southeastern area of Ohio as well as the western counties of West Virginia. Approximately 5.66% of total loans were unsecured at December 31, 2014, up from 5.13% at December 31, 2013. |
Note_4_Premises_and_Equipment
Note 4 - Premises and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment Disclosure [Text Block] | Note D - Premises and Equipment | ||||||||
Following is a summary of premises and equipment at December 31: | |||||||||
2014 | 2013 | ||||||||
Land | $ | 2,045 | $ | 1,900 | |||||
Buildings | 11,083 | 10,342 | |||||||
Leasehold improvements | 2,767 | 2,911 | |||||||
Furniture and equipment | 15,146 | 15,060 | |||||||
31,041 | 30,213 | ||||||||
Less accumulated depreciation | 21,846 | 21,208 | |||||||
Total premises and equipment | $ | 9,195 | $ | 9,005 | |||||
The following is a summary of the future minimum operating lease payments for facilities leased by the Company. Operating lease expense was $515 in 2014, $529 in 2013, and $492 in 2012. | |||||||||
2015 | $ | 456 | |||||||
2016 | 336 | ||||||||
2017 | 234 | ||||||||
2018 | 103 | ||||||||
2019 | 3 | ||||||||
$ | 1,132 | ||||||||
Note_5_Deposits
Note 5 - Deposits | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure Text Block [Abstract] | |||||||||
Deposit Liabilities Disclosures [Text Block] | Note E - Deposits | ||||||||
Following is a summary of interest-bearing deposits at December 31: | |||||||||
2014 | 2013 | ||||||||
NOW accounts | $ | 112,571 | $ | 106,342 | |||||
Savings and Money Market | 198,788 | 200,237 | |||||||
Time: | |||||||||
In denominations of $250,000 or less | 164,219 | 163,057 | |||||||
In denominations of more than $250,000 | 9,458 | 9,418 | |||||||
Total time deposits | 173,677 | 172,475 | |||||||
Total interest-bearing deposits | $ | 485,036 | $ | 479,054 | |||||
Following is a summary of total time deposits by remaining maturity at December 31, 2014: | |||||||||
2015 | $ | 94,645 | |||||||
2016 | 40,212 | ||||||||
2017 | 16,253 | ||||||||
2018 | 12,407 | ||||||||
2019 | 9,614 | ||||||||
Thereafter | 546 | ||||||||
Total | $ | 173,677 | |||||||
Brokered deposits, included in time deposits, were $28,976 and $15,435 at December 31, 2014 and 2013, respectively. |
Note_6_Interest_Rate_Swaps
Note 6 - Interest Rate Swaps | 12 Months Ended |
Dec. 31, 2014 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note F —Interest Rate Swaps |
The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities. The Company utilizes interest rate swap agreements as part of its asset/liability management strategy to help manage its interest rate risk position. As part of this strategy, the Company provides its customer with a fixed-rate loan while creating a variable-rate asset for the Company by the customer entering into an interest rate swap with the Company on terms that match the loan. The Company offsets its risk exposure by entering into an offsetting interest rate swap with an unaffiliated institution. These interest rate swaps do not qualify as designated hedges; therefore, each swap is accounted for as a standalone derivative. At December 31, 2014, the Company had interest rate swaps associated with commercial loans with a notional value of $11,684 and a fair value of $38. This is compared to interest rate swaps with a notional value of $12,598 and a fair value of $150 at December 31, 2013. The notional amount of the interest rate swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreement. To further offset the risk exposure related to market value fluctuations of its interest rate swaps, the Company maintains collateral deposits on hand with a third-party correspondent, which totaled $350 at December 31, 2014 and December 31, 2013. |
Note_7_Other_Borrowed_Funds
Note 7 - Other Borrowed Funds | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||
Federal Home Loan Bank Advances, Disclosure [Text Block] | Note G - Other Borrowed Funds | ||||||||||||
Other borrowed funds at December 31, 2014 and 2013 are comprised of advances from the Federal Home Loan Bank (“FHLB”) of Cincinnati and promissory notes. | |||||||||||||
FHLB | Promissory | Totals | |||||||||||
Borrowings | Notes | ||||||||||||
2014 | $ | 21,181 | $ | 3,791 | $ | 24,972 | |||||||
2013 | $ | 15,219 | $ | 3,529 | $ | 18,748 | |||||||
Pursuant to collateral agreements with the FHLB, advances are secured by $213,371 in qualifying mortgage loans, $79,229 in commercial loans and $5,081 in FHLB stock at December 31, 2014. Fixed-rate FHLB advances of $21,181 mature through 2042 and have interest rates ranging from 1.34% to 3.31% and a year-to-date weighted average cost of 2.14% at December 31, 2014, as compared to 2.23% at December 31, 2013. There were no variable-rate FHLB borrowings at December 31, 2014. | |||||||||||||
At December 31, 2014, the Company had a cash management line of credit enabling it to borrow up to $75,000 from the FHLB. All cash management advances have an original maturity of 90 days. The line of credit must be renewed on an annual basis. There was $75,000 available on this line of credit at December 31, 2014. | |||||||||||||
Based on the Company’s current FHLB stock ownership, total assets and pledgeable loans, the Company had the ability to obtain borrowings from the FHLB up to a maximum of $176,411 at December 31, 2014. Of this maximum borrowing capacity of $176,411, the Company had $125,729 available to use as additional borrowings, of which $75,000 could be used for short-term, cash management advances, as mentioned above. | |||||||||||||
Promissory notes, issued primarily by Ohio Valley, are due at various dates through a final maturity date of December 8, 2016, and have fixed rates ranging from 1.15% to 1.50% and a year-to-date weighted average cost of 2.34% at December 31, 2014, as compared to 2.44% at December 31, 2013. At December 31, 2014, there were no promissory notes payable by Ohio Valley to related parties. See Note K for further discussion of related party transactions. | |||||||||||||
Letters of credit issued on the Bank’s behalf by the FHLB to collateralize certain public unit deposits as required by law totaled $29,500 at December 31, 2014 and $25,000 at December 31, 2013. | |||||||||||||
Scheduled principal payments over the next five years: | |||||||||||||
FHLB | Promissory | Totals | |||||||||||
Borrowings | Notes | ||||||||||||
2015 | $ | 1,773 | $ | 2,044 | $ | 3,817 | |||||||
2016 | 1,594 | 1,747 | 3,341 | ||||||||||
2017 | 4,534 | 4,534 | |||||||||||
2018 | 1,484 | ---- | 1,484 | ||||||||||
2019 | 1,443 | ---- | 1,443 | ||||||||||
Thereafter | 10,353 | ---- | 10,353 | ||||||||||
$ | 21,181 | $ | 3,791 | $ | 24,972 | ||||||||
Note_8_Subordinated_Debentures
Note 8 - Subordinated Debentures and Trust Preferred Securities | 12 Months Ended |
Dec. 31, 2014 | |
Subordinated Borrowings [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | Note H - Subordinated Debentures and Trust Preferred Securities |
On September 7, 2000, a trust formed by Ohio Valley issued $5,000 of 10.6% fixed-rate trust preferred securities as part of a pooled offering of such securities. The Company issued subordinated debentures to the trust in exchange for the proceeds of the offering, which debentures represent the sole asset of the trust. Beginning September 7, 2010, the Company’s subordinated debentures were callable upon demand at a premium of 105.30% with the call price declining .53% per year until reaching a call price of par at year twenty through maturity. The subordinated debentures were required to be redeemed no later than September 7, 2030. Given the current capital levels and interest cost savings, the Company redeemed the full amount of the subordinated debentures on March 7, 2013, at a redemption price of 104.24%. The redemption was funded by a capital distribution from the Bank. | |
On March 22, 2007, a trust formed by Ohio Valley issued $8,500 of adjustable-rate trust preferred securities as part of a pooled offering of such securities. The rate on these trust preferred securities was fixed at 6.58% for five years, and then converted to a floating-rate term on March 15, 2012, based on a rate equal to the 3-month LIBOR plus 1.68%. The interest rate on these trust preferred securities was 1.92% at both December 31, 2014 and 2013. There were no debt issuance costs incurred with these trust preferred securities. The Company issued subordinated debentures to the trust in exchange for the proceeds of the offering. The subordinated debentures must be redeemed no later than June 15, 2037. | |
Under the provisions of the related indenture agreements, the interest payable on the trust preferred securities is deferrable for up to five years and any such deferral is not considered a default. During any period of deferral, the Company would be precluded from declaring or paying dividends to shareholders or repurchasing any of the Company’s common stock. Under generally accepted accounting principles, the trusts are not consolidated with the Company. Accordingly, the Company does not report the securities issued by the trust as liabilities, and instead reports as liabilities the subordinated debentures issued by the Company and held by the trust. Since the Company’s equity interest in the trusts cannot be received until the subordinated debentures are repaid, these amounts have been netted. |
Note_9_Income_Taxes
Note 9 - Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Tax Disclosure [Text Block] | Note I - Income Taxes | ||||||||||||
The provision for income taxes consists of the following components: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current tax expense | $ | 3,637 | $ | 2,795 | $ | 2,968 | |||||||
Deferred tax (benefit) expense | (517 | ) | 144 | (206 | ) | ||||||||
Total income taxes | $ | 3,120 | $ | 2,939 | $ | 2,762 | |||||||
The source of deferred tax assets and deferred tax liabilities at December 31: | |||||||||||||
2014 | 2013 | ||||||||||||
Items giving rise to deferred tax assets: | |||||||||||||
Allowance for loan losses | $ | 2,882 | $ | 2,139 | |||||||||
Deferred compensation | 2,008 | 1,847 | |||||||||||
Deferred loan fees/costs | 288 | 290 | |||||||||||
Other real estate owned | 370 | 403 | |||||||||||
Other | 84 | 205 | |||||||||||
Items giving rise to deferred tax liabilities: | |||||||||||||
Mortgage servicing rights | (167 | ) | (185 | ) | |||||||||
FHLB stock dividends | (1,074 | ) | (1,081 | ) | |||||||||
Unrealized gain on securities available for sale | (495 | ) | (128 | ) | |||||||||
Prepaid expenses | (206 | ) | (5 | ) | |||||||||
Depreciation and amortization | (451 | ) | (397 | ) | |||||||||
Other | (2 | ) | (1 | ) | |||||||||
Net deferred tax asset | $ | 3,237 | $ | 3,087 | |||||||||
The Company determined that it was not required to establish a valuation allowance for deferred tax assets since management believes that the deferred tax assets are likely to be realized through the future reversals of existing taxable temporary differences, deductions against forecasted income and tax planning strategies. | |||||||||||||
The difference between the financial statement tax provision and amounts computed by applying the statutory federal income tax rate of 34% to income before taxes is as follows: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Statutory tax | $ | 3,806 | $ | 3,757 | $ | 3,337 | |||||||
Effect of nontaxable interest | (418 | ) | (322 | ) | (302 | ) | |||||||
Effect of nontaxable insurance premiums | (142 | ) | ---- | ---- | |||||||||
Income from bank owned insurance, net | (217 | ) | (195 | ) | (100 | ) | |||||||
Effect of postretirement benefits | 238 | ---- | ---- | ||||||||||
Effect of nontaxable life insurance death proceeds | ---- | (154 | ) | ---- | |||||||||
Effect of state income tax | 73 | 76 | 53 | ||||||||||
Tax credits | (231 | ) | (230 | ) | (250 | ) | |||||||
Other items | 11 | 7 | 24 | ||||||||||
Total income taxes | $ | 3,120 | $ | 2,939 | $ | 2,762 | |||||||
At December 31, 2014 and December 31, 2013, the Company had no unrecognized tax benefits. The Company does not expect the amount of unrecognized tax benefits to significantly change within the next twelve months. As previously reported, the Internal Revenue Service has proposed that Loan Central, as a tax return preparer, be assessed a penalty for allegedly negotiating or endorsing checks issued by the U.S. Treasury to taxpayers. The penalty would amount to approximately $1.2 million. Loan Central appealed this matter within the Internal Revenue Service. Loan Central was recently notified that the Appeals Office will not concede the penalty, and the penalty has been assessed. The Company will have to resolve the matter through the judicial system. Based on consultation with legal counsel, management remains confident that it is highly unlikely that the penalty recommendation will be sustained. Therefore, the Company did not recognize any interest and/or penalties related to this matter for the periods presented. | |||||||||||||
The Company is subject to U.S. federal income tax as well as West Virginia state income tax. The Company is no longer subject to federal or state examination for years prior to 2011. The tax years 2011-2013 remain open to federal and state examinations. |
Note_10_Commitments_and_Contin
Note 10 - Commitments and Contingent Liabilities | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||
Commitments and Contingencies Disclosure [Text Block] | Note J - Commitments and Contingent Liabilities | ||||||||
The Bank is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and financial guarantees. The Bank’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit, and financial guarantees written, is represented by the contractual amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for instruments recorded on the balance sheet. | |||||||||
Following is a summary of such commitments at December 31: | |||||||||
2014 | 2013 | ||||||||
Fixed rate | $ | 223 | $ | 237 | |||||
Variable rate | 51,011 | 60,971 | |||||||
Standby letters of credit | 4,110 | 6,257 | |||||||
The interest rate on fixed-rate commitments ranged from 3.50% to 6.00% at December 31, 2014. | |||||||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment and income-producing commercial properties. | |||||||||
The Company participates as a facilitator of tax refunds pursuant to a clearing agreement with a third-party tax refund product provider. The clearing agreement is effective through December 31, 2019 and is renewable in 3-year increments. The agreement requires the Bank to process electronic refund checks (“ERC’s”) and electronic refund deposits (“ERD’s”) presented for payment on behalf of taxpayers containing taxpayer refunds. The Bank receives a fee paid by the third-party tax refund product provider for each transaction that is processed. The agreement is subject to termination if the Bank fails to perform the required clearing services and/or the Bank’s regulators would require the Bank to cease offering the product presented within the agreement. | |||||||||
There are various contingent liabilities that are not reflected in the financial statements, including claims and legal actions arising in the ordinary course of business. In the opinion of management, after consultation with legal counsel, the ultimate disposition of these matters is not expected to have a material effect on financial condition or results of operations. |
Note_11_Related_Party_Transact
Note 11 - Related Party Transactions | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Related Party Transactions [Abstract] | |||||
Related Party Transactions Disclosure [Text Block] | Note K - Related Party Transactions | ||||
Certain directors, executive officers and companies with which they are affiliated were loan customers during 2014. A summary of activity on these borrower relationships with aggregate debt greater than $120 is as follows: | |||||
Total loans at January 1, 2014 | $ | 5,679 | |||
New loans | 37 | ||||
Repayments | (532 | ) | |||
Other changes | ---- | ||||
Total loans at December 31, 2014 | $ | 5,184 | |||
Other changes include adjustments for loans applicable to one reporting period that are excludable from the other reporting period, such as changes in persons classified as directors, executive officers and companies’ affiliates. | |||||
Deposits from principal officers, directors, and their affiliates at year-end 2014 and 2013 were $14,616 and $16,219. |
Note_12_Employee_Benefits
Note 12 - Employee Benefits | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note L - Employee Benefits | ||||||||||||
The Bank has a profit-sharing plan for the benefit of its employees and their beneficiaries. Contributions to the plan are determined by the Board of Directors of Ohio Valley. Contributions charged to expense were $278, $227, and $222 for 2014, 2013 and 2012. | |||||||||||||
Ohio Valley maintains an Employee Stock Ownership Plan (ESOP) covering substantially all employees of the Company. Ohio Valley issues shares to the ESOP, purchased by the ESOP with subsidiary cash contributions, which are allocated to ESOP participants based on relative compensation. The total number of shares held by the ESOP, all of which have been allocated to participant accounts, were 324,675 and 310,964 at December 31, 2014 and 2013. In addition, the subsidiaries made contributions to its ESOP Trust as follows: | |||||||||||||
Years ended December 31 | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Number of shares issued | 14,618 | 28,634 | 32,765 | ||||||||||
Fair value of stock contributed | $ | 351 | $ | 640 | $ | 617 | |||||||
Cash contributed | 300 | 73 | 82 | ||||||||||
Total expense | $ | 651 | $ | 713 | $ | 699 | |||||||
Life insurance contracts with a cash surrender value of $23,657 and annuity assets of $1,955 at December 31, 2014 have been purchased by the Company, the owner of the policies. The purpose of these contracts was to replace a current group life insurance program for executive officers, implement a deferred compensation plan for directors and executive officers, implement a director retirement plan and implement supplemental retirement plans for certain officers. Under the deferred compensation plan, Ohio Valley pays each participant the amount of fees deferred plus interest over the participant’s desired term, upon termination of service. Under the director retirement plan, participants are eligible to receive ongoing compensation payments upon retirement subject to length of service. The supplemental retirement plans provide payments to select executive officers upon retirement based upon a compensation formula determined by Ohio Valley’s Board of Directors. The present value of payments expected to be provided are accrued during the service period of the covered individuals and amounted to $5,806 and $5,297 at December 31, 2014 and 2013. Expenses related to the plans for each of the last three years amounted to $604, $787, and $536. In association with the split-dollar life insurance plan, the present value of the postretirement benefit totaled $2,852 at December 31, 2014 and $2,152 at December 31, 2013. |
Note_13_Fair_Value_of_Financia
Note 13 - Fair Value of Financial Instruments | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Fair Value Disclosures [Text Block] | Note M - Fair Value of Financial Instruments | ||||||||||||||||||||
Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: | |||||||||||||||||||||
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. | |||||||||||||||||||||
Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. | |||||||||||||||||||||
Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | |||||||||||||||||||||
The following is a description of the Company’s valuation methodologies used to measure and disclose the fair values of its financial assets and liabilities on a recurring or nonrecurring basis: | |||||||||||||||||||||
Securities: The fair values for securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). During times when trading is more liquid, broker quotes are used (if available) to validate the model. Rating agency and industry research reports as well as defaults and deferrals on individual securities are reviewed and incorporated into the calculations. | |||||||||||||||||||||
Impaired Loans: At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Impaired loans carried at fair value generally receive specific allocations of the allowance for loan losses. For collateral dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. | |||||||||||||||||||||
Other Real Estate Owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. | |||||||||||||||||||||
Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with management’s own assumptions of fair value based on factors that include recent market data or industry-wide statistics. On an as-needed basis, the Company reviews the fair value of collateral, taking into consideration current market data, as well as all selling costs that typically approximate 10%. | |||||||||||||||||||||
Assets and Liabilities Measured on a Recurring Basis | |||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized below: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2014, Using | |||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
U.S. Government sponsored entity securities | ---- | $ | 8,917 | ---- | |||||||||||||||||
Agency mortgage-backed securities, residential | ---- | 76,319 | ---- | ||||||||||||||||||
Fair Value Measurements at December 31, 2013, Using | |||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
U.S. Government sponsored entity securities | ---- | $ | 8,852 | ---- | |||||||||||||||||
Agency mortgage-backed securities, residential | ---- | 75,216 | ---- | ||||||||||||||||||
There were no transfers between Level 1 and Level 2 during 2014 or 2013. | |||||||||||||||||||||
Assets and Liabilities Measured on a Nonrecurring Basis | |||||||||||||||||||||
Assets and liabilities measured at fair value on a nonrecurring basis are summarized below: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2014, Using | |||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Owner-occupied | ---- | ---- | $ | 1,679 | |||||||||||||||||
Nonowner-occupied | ---- | ---- | 5,270 | ||||||||||||||||||
Commercial and industrial | ---- | ---- | 2,532 | ||||||||||||||||||
Other real estate owned: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | ---- | ---- | 1,147 | ||||||||||||||||||
Fair Value Measurements at December 31, 2013, Using | |||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Residential real estate | ---- | ---- | $ | 234 | |||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Owner-occupied | ---- | ---- | 133 | ||||||||||||||||||
Nonowner-occupied | ---- | ---- | 1,973 | ||||||||||||||||||
Commercial and industrial | ---- | ---- | 2,863 | ||||||||||||||||||
Other real estate owned: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | ---- | ---- | 1,058 | ||||||||||||||||||
At December 31, 2014, the recorded investment of impaired loans measured for impairment using the fair value of collateral for collateral-dependent loans totaled $12,773, with a corresponding valuation allowance of $3,292, resulting in an increase of $1,044 in provision expense during the year ended December 31, 2014, with no additional charge-offs recognized. At December 31, 2013, the recorded investment of impaired loans measured for impairment using the fair value of collateral for collateral-dependent loans totaled $7,701, with a corresponding valuation allowance of $2,498, resulting in an increase of $519 in additional provision expense during the year ended December 31, 2013, with no additional charge-offs recognized. At December 31, 2012, the recorded investment of impaired loans measured for impairment using the fair value of collateral for collateral-dependent loans totaled $1,979, with a corresponding valuation of $1,979. A net increase of $2,479 in fair value was recognized for partial charge-offs of loans and impairment reserves on loans during the year ended December 31, 2012. | |||||||||||||||||||||
Other real estate owned that was measured at fair value less costs to sell at December 31, 2014 had a net carrying amount of $1,147, which is made up of the outstanding balance of $2,217, net of a valuation allowance of $1,070 at December 31, 2014. There were $88 in net appreciation during 2014. Other real estate owned that was measured at fair value less costs to sell at December 31, 2013 had a net carrying amount of $1,058, which is made up of the outstanding balance of $2,217, net of a valuation allowance of $1,159 at December 31, 2013. There were $577 in corresponding write-downs during 2013. Other real estate owned that was measured at fair value less costs to sell at December 31, 2012 had a net carrying amount of $2,617, which is made up of the outstanding balance of $4,214, net of a valuation allowance of $1,597 at December 31, 2012, which resulted in a corresponding write-down of $331 for the year ended December 31, 2012. | |||||||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2014 and December 31, 2013: | |||||||||||||||||||||
31-Dec-14 | Fair Value | Valuation | Unobservable | Range | (Weighted | ||||||||||||||||
Technique(s) | Input(s) | Average) | |||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Owner-occupied | $ | 1,679 | Sales approach | Adjustment to comparables | 0.30% | to | 62 | % | 18 | % | |||||||||||
Income approach | Capitalization Rate | 10 | % | 10 | % | ||||||||||||||||
Nonowner-occupied | 2,597 | Income approach | Capitalization Rate | 6.5 | % | 6.5 | % | ||||||||||||||
Nonowner-occupied | 2,673 | Sales approach | Adjustment to comparables | 0% | to | 12.5 | % | 5.7 | % | ||||||||||||
Commercial and industrial | 2,532 | Sales approach | Adjustment to comparables | 10% | to | 30 | % | 21.42 | % | ||||||||||||
Other real estate owned: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 1,147 | Sales approach | Adjustment to comparables | 5% | to | 35 | % | 18 | % | ||||||||||||
31-Dec-13 | Fair Value | Valuation | Unobservable | Range | (Weighted | ||||||||||||||||
Technique(s) | Input(s) | Average) | |||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Nonowner-occupied | $ | 1,973 | Sales approach | Adjustment to comparables | 5% | to | 10 | % | 8 | % | |||||||||||
Commercial and industrial | 2,863 | Sales approach | Adjustment to comparables | 0% | to | 20 | % | 16 | % | ||||||||||||
Other real estate owned: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 1,058 | Sales approach | Adjustment to comparables | 5% | to | 35 | % | 19 | % | ||||||||||||
The carrying amounts and estimated fair values of financial instruments at December 31, 2014 and December 31, 2013 are as follows: | |||||||||||||||||||||
Fair Value Measurements at December 31, 2014 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Value | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 30,977 | $ | 30,977 | $ | ---- | $ | ---- | $ | 30,977 | |||||||||||
Interest-bearing deposits with banks | 980 | ---- | 980 | ---- | 980 | ||||||||||||||||
Securities available for sale | 85,236 | ---- | 85,236 | ---- | 85,236 | ||||||||||||||||
Securities held to maturity | 22,820 | ---- | 12,144 | 11,426 | 23,570 | ||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank stock | 6,576 | N/A | N/A | N/A | N/A | ||||||||||||||||
Loans, net | 586,434 | ---- | ---- | 591,594 | 591,594 | ||||||||||||||||
Accrued interest receivable | 1,806 | ---- | 230 | 1,576 | 1,806 | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits | 646,830 | 161,784 | 485,503 | ---- | 647,287 | ||||||||||||||||
Other borrowed funds | 24,972 | ---- | 24,555 | ---- | 24,555 | ||||||||||||||||
Subordinated debentures | 8,500 | ---- | 4,979 | ---- | 4,979 | ||||||||||||||||
Accrued interest payable | 394 | 4 | 390 | ---- | 394 | ||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Value | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 28,344 | $ | 28,344 | $ | ---- | $ | ---- | $ | 28,344 | |||||||||||
Securities available for sale | 84,068 | ---- | 84,068 | ---- | 84,068 | ||||||||||||||||
Securities held to maturity | 22,826 | ---- | 11,502 | 11,482 | 22,984 | ||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank stock | 7,776 | N/A | N/A | N/A | N/A | ||||||||||||||||
Loans, net | 560,164 | ---- | ---- | 564,589 | 564,589 | ||||||||||||||||
Accrued interest receivable | 1,901 | ---- | 241 | 1,660 | 1,901 | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits | 628,877 | 148,847 | 479,962 | ---- | 628,809 | ||||||||||||||||
Other borrowed funds | 18,748 | ---- | 17,453 | ---- | 17,453 | ||||||||||||||||
Subordinated debentures | 8,500 | ---- | 4,896 | ---- | 4,896 | ||||||||||||||||
Accrued interest payable | 792 | 3 | 789 | ---- | 792 | ||||||||||||||||
The methods and assumptions, not previously presented, used to estimate fair values are described as follows: | |||||||||||||||||||||
Cash and Cash Equivalents: The carrying amounts of cash and short-term instruments approximate fair values and are classified as Level 1. | |||||||||||||||||||||
Interest-Bearing Deposits with Banks: The carrying amounts of interest-bearing deposits with banks approximate fair values and are classified as Level 2. | |||||||||||||||||||||
Securities Held to Maturity: The fair values for securities held to maturity are determined in the same manner as securities held for sale and discussed earlier in this note. Level 3 securities consist of nonrated municipal bonds and tax credit (“QZAB”) bonds. | |||||||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank stock: It is not practical to determine the fair value of either Federal Home Loan Bank or Federal Reserve Bank stock due to restrictions placed on its transferability. | |||||||||||||||||||||
Loans: Fair values of loans are estimated as follows: The fair value of fixed rate loans is estimated by discounting future cash flows using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. | |||||||||||||||||||||
Deposit Liabilities: The fair values disclosed for noninterest-bearing deposits are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 1 classification. The carrying amounts of variable rate, fixed-term money market accounts and certificates of deposit approximate their fair values at the reporting date resulting in a Level 2 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. | |||||||||||||||||||||
Other Borrowed Funds: The carrying values of the Company’s short-term borrowings, generally maturing within ninety days, approximate their fair values resulting in a Level 2 classification. The fair values of the Company’s long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. | |||||||||||||||||||||
Subordinated Debentures: The fair values of the Company’s Subordinated Debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. | |||||||||||||||||||||
Accrued Interest Receivable and Payable: The carrying amount of accrued interest approximates fair value resulting in a classification that is consistent with the earning assets and interest-bearing liabilities with which it is associated. | |||||||||||||||||||||
Off-balance Sheet Instruments: Fair values for off-balance sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of commitments is not material. | |||||||||||||||||||||
Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, 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 the estimates. |
Note_14_Regulatory_Matters
Note 14 - Regulatory Matters | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note N - Regulatory Matters | ||||||||||||||||||||||||
Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. Management believes that as of December 31, 2014, the Company and the Bank met all capital adequacy requirements to which they were subject. | |||||||||||||||||||||||||
The prompt corrective action regulations provide five classifications for banks, including well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and plans for capital restoration are required. At year-end 2014 and 2013, the Bank’s capital met the requirements for the Bank to be deemed well capitalized under the regulatory framework for prompt corrective action. | |||||||||||||||||||||||||
At year-end, consolidated actual capital levels and minimum required levels for the Company and the Bank were: | |||||||||||||||||||||||||
Actual | Minimum Required | Minimum Required | |||||||||||||||||||||||
For Capital | To Be Well | ||||||||||||||||||||||||
Adequacy Purposes | Capitalized Under | ||||||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||||||
Action Regulations | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
2014 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | $ | 99,607 | 17.4 | % | $ | 45,765 | 8 | % | $ | 57,206 | N/A | ||||||||||||||
Bank | 87,670 | 15.6 | 44,935 | 8 | 56,169 | 10 | % | ||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | 92,442 | 16.2 | 22,883 | 4 | 34,324 | N/A | |||||||||||||||||||
Bank | 80,637 | 14.4 | 22,468 | 4 | 33,701 | 6 | |||||||||||||||||||
Tier 1 capital (to average assets) | |||||||||||||||||||||||||
Consolidated | 92,442 | 11.8 | 31,306 | 4 | 39,133 | N/A | |||||||||||||||||||
Bank | 80,637 | 10.5 | 30,702 | 4 | 38,377 | 5 | |||||||||||||||||||
2013 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | $ | 93,504 | 16.8 | % | $ | 44,565 | 8 | % | $ | 55,706 | N/A | ||||||||||||||
Bank | 83,057 | 15.2 | 43,731 | 8 | 54,664 | 10 | % | ||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | 87,349 | 15.7 | 22,283 | 4 | 33,424 | N/A | |||||||||||||||||||
Bank | 77,230 | 14.1 | 21,866 | 4 | 32,798 | 6 | |||||||||||||||||||
Tier 1 capital (to average assets) | |||||||||||||||||||||||||
Consolidated | 87,349 | 11.7 | 29,918 | 4 | 37,397 | N/A | |||||||||||||||||||
Bank | 77,230 | 10.5 | 29,410 | 4 | 36,762 | 5 | |||||||||||||||||||
Dividends paid by the subsidiaries are the primary source of funds available to Ohio Valley for payment of dividends to shareholders and for other working capital needs. The payment of dividends by the subsidiaries to Ohio Valley is subject to restrictions by regulatory authorities. These restrictions generally limit dividends to the current and prior two years retained earnings. At January 1, 2015 approximately $3,970 of the subsidiaries’ retained earnings were available for dividends under these guidelines. In addition to these restrictions, dividend payments cannot reduce regulatory capital levels below minimum regulatory guidelines. The Board of Governors of the Federal Reserve System also has a policy requiring Ohio Valley to provide notice to the FRB in advance of the payment of a dividend to Ohio Valley’s shareholders under certain circumstances, and the FRB may disapprove of such dividend payment if the FRB determines the payment would be an unsafe or unsound practice. |
Note_15_Parent_Company_Only_Co
Note 15 - Parent Company Only Condensed Financial Information | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note O - Parent Company Only Condensed Financial Information | ||||||||||||
Below is condensed financial information of Ohio Valley. In this information, Ohio Valley’s investment in its subsidiaries is stated at cost plus equity in undistributed earnings of the subsidiaries since acquisition. This information should be read in conjunction with the consolidated financial statements of the Company. | |||||||||||||
CONDENSED STATEMENTS OF CONDITION | |||||||||||||
Years ended December 31: | |||||||||||||
Assets | 2014 | 2013 | |||||||||||
Cash and cash equivalents | $ | 2,875 | $ | 2,436 | |||||||||
Investment in subsidiaries | 91,991 | 86,644 | |||||||||||
Notes receivable - subsidiaries | 3,782 | 3,520 | |||||||||||
Other assets | 47 | 370 | |||||||||||
Total assets | $ | 98,695 | $ | 92,970 | |||||||||
Liabilities | |||||||||||||
Notes payable | $ | 3,791 | $ | 3,529 | |||||||||
Subordinated debentures | 8,500 | 8,500 | |||||||||||
Other liabilities | 188 | 522 | |||||||||||
Total liabilities | $ | 12,479 | $ | 12,551 | |||||||||
Shareholders’ Equity | |||||||||||||
Total shareholders’ equity | 86,216 | 80,419 | |||||||||||
Total liabilities and shareholders’ equity | $ | 98,695 | $ | 92,970 | |||||||||
CONDENSED STATEMENTS OF INCOME | |||||||||||||
Years ended December 31: | |||||||||||||
Income: | 2014 | 2013 | 2012 | ||||||||||
Interest on notes | $ | 84 | $ | 85 | $ | 114 | |||||||
Other operating income | 34 | 68 | 84 | ||||||||||
Dividends from subsidiaries | 3,500 | 8,500 | 4,500 | ||||||||||
Gain on sale of ProAlliance Corporation | 810 | ---- | ---- | ||||||||||
Expenses: | |||||||||||||
Interest on notes | 84 | 86 | 114 | ||||||||||
Interest on subordinated debentures | 165 | 265 | 789 | ||||||||||
Operating expenses | 384 | 456 | 364 | ||||||||||
Income before income taxes and equity in undistributed earnings of subsidiaries | 3,795 | 7,846 | 3,431 | ||||||||||
Income tax benefit | (108 | ) | 214 | 355 | |||||||||
Equity in undistributed earnings of subsidiaries | 4,386 | 52 | 3,266 | ||||||||||
Net Income | $ | 8,073 | $ | 8,112 | $ | 7,052 | |||||||
CONDENSED STATEMENTS OF CASH FLOWS | |||||||||||||
Years ended December 31: | |||||||||||||
Cash flows from operating activities: | 2014 | 2013 | 2012 | ||||||||||
Net Income | $ | 8,073 | $ | 8,112 | $ | 7,052 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Gain on sale of ProAlliance Corporation | (810 | ) | ---- | ---- | |||||||||
Equity in undistributed earnings of subsidiaries | (4,386 | ) | (52 | ) | (3,266 | ) | |||||||
Common stock issued to ESOP | 351 | 640 | 617 | ||||||||||
Change in other assets | 323 | (60 | ) | 96 | |||||||||
Change in other liabilities | (334 | ) | (15 | ) | (21 | ) | |||||||
Net cash provided by operating activities | 3,217 | 8,625 | 4,478 | ||||||||||
Cash flows from investing activities: | |||||||||||||
Proceeds from sale of ProAlliance Corporation | 810 | ---- | ---- | ||||||||||
Investment in OVBC Captive | (250 | ) | ---- | ---- | |||||||||
Change in notes receivable | (262 | ) | (97 | ) | 320 | ||||||||
Net cash provided by (used in) investing activities | 298 | (97 | ) | 320 | |||||||||
Cash flows from financing activities: | |||||||||||||
Change in notes payable | 262 | 3 | (222 | ) | |||||||||
Proceeds from common stock through dividend reinvestment | 103 | 170 | 55 | ||||||||||
Cash dividends paid | (3,441 | ) | (2,965 | ) | (4,393 | ) | |||||||
Repayment of subordinated debentures | ---- | (5,000 | ) | ---- | |||||||||
Net cash used in financing activities | (3,076 | ) | (7,792 | ) | (4,560 | ) | |||||||
Cash and cash equivalents: | |||||||||||||
Change in cash and cash equivalents | 439 | 736 | 238 | ||||||||||
Cash and cash equivalents at beginning of year | 2,436 | 1,700 | 1,462 | ||||||||||
Cash and cash equivalents at end of year | $ | 2,875 | $ | 2,436 | $ | 1,700 | |||||||
Note_16_Segment_Information
Note 16 - Segment Information | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Segment Reporting Disclosure [Text Block] | Note P - Segment Information | ||||||||||||
The reportable segments are determined by the products and services offered, primarily distinguished between banking and consumer finance. They are also distinguished by the level of information provided to the chief operating decision maker, who uses such information to review performance of various components of the business which are then aggregated if operating performance, products/services, and customers are similar. Loans, investments, and deposits provide the majority of the net revenues from the banking operation, while loans provide the majority of the net revenues for the consumer finance segment. All Company segments are domestic. | |||||||||||||
Total revenues from the banking segment, which accounted for the majority of the Company’s total revenues, totaled 90.6%, 90.5% and 91.2% of total consolidated revenues for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||||||||||
The accounting policies used for the Company’s reportable segments are the same as those described in Note A - Summary of Significant Accounting Policies. Income taxes are allocated based on income before tax expense. | |||||||||||||
Segment information is as follows: | |||||||||||||
Year Ended December 31, 2014 | |||||||||||||
Banking | Consumer | Total | |||||||||||
Finance | Company | ||||||||||||
Net interest income | $ | 30,172 | $ | 3,308 | $ | 33,480 | |||||||
Provision expense | 2,645 | 142 | 2,787 | ||||||||||
Noninterest income | 8,897 | 896 | 9,793 | ||||||||||
Noninterest expense | 26,806 | 2,487 | 29,293 | ||||||||||
Tax expense | 2,587 | 533 | 3,120 | ||||||||||
Net income | 7,031 | 1,042 | 8,073 | ||||||||||
Assets | 764,510 | 14,158 | 778,668 | ||||||||||
Year Ended December 31, 2013 | |||||||||||||
Banking | Consumer | Total | |||||||||||
Finance | Company | ||||||||||||
Net interest income | $ | 29,141 | $ | 3,244 | $ | 32,385 | |||||||
Provision expense | 364 | 113 | 477 | ||||||||||
Noninterest income | 7,711 | 807 | 8,518 | ||||||||||
Noninterest expense | 26,914 | 2,461 | 29,375 | ||||||||||
Tax expense | 2,440 | 499 | 2,939 | ||||||||||
Net income | 7,134 | 978 | 8,112 | ||||||||||
Assets | 732,905 | 14,463 | 747,368 | ||||||||||
Year Ended December 31, 2012 | |||||||||||||
Banking | Consumer Finance | Total Company | |||||||||||
Net interest income | $ | 29,445 | $ | 3,210 | $ | 32,655 | |||||||
Provision expense | 1,527 | 56 | 1,583 | ||||||||||
Noninterest income | 7,734 | 749 | 8,483 | ||||||||||
Noninterest expense | 27,384 | 2,357 | 29,741 | ||||||||||
Tax expense | 2,240 | 522 | 2,762 | ||||||||||
Net income | 6,028 | 1,024 | 7,052 | ||||||||||
Assets | 754,490 | 14,733 | 769,223 | ||||||||||
Note_17_Consolidated_Quarterly
Note 17 - Consolidated Quarterly Financial Information (unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Quarterly Financial Information [Text Block] | Note Q - Consolidated Quarterly Financial Information (unaudited) | ||||||||||||||||
Quarters Ended | |||||||||||||||||
Mar. 31 | Jun. 30 | Sept. 30 | Dec. 31 | ||||||||||||||
2014 | |||||||||||||||||
Total interest income | $ | 9,508 | $ | 8,925 | $ | 8,904 | $ | 9,018 | |||||||||
Total interest expense | 726 | 738 | 696 | 715 | |||||||||||||
Net interest income | 8,782 | 8,187 | 8,208 | 8,303 | |||||||||||||
Provision for loan losses (1) | 494 | 1,386 | (682 | ) | 1,589 | ||||||||||||
Noninterest income (2) | 4,118 | 1,912 | 2,106 | 1,657 | |||||||||||||
Noninterest expense | 7,295 | 6,997 | 7,244 | 7,757 | |||||||||||||
Net income | 3,564 | 1,344 | 2,742 | 423 | |||||||||||||
Earnings per share | $ | 0.87 | $ | 0.33 | $ | 0.67 | $ | 0.1 | |||||||||
2013 | |||||||||||||||||
Total interest income | $ | 9,480 | $ | 8,764 | $ | 8,748 | $ | 8,966 | |||||||||
Total interest expense | 1,059 | 923 | 818 | 773 | |||||||||||||
Net interest income | 8,421 | 7,841 | 7,930 | 8,193 | |||||||||||||
Provision for loan losses (3) | 31 | (189 | ) | 833 | (198 | ) | |||||||||||
Noninterest income (2) | 3,940 | 1,965 | 1,574 | 1,039 | |||||||||||||
Noninterest expense | 7,948 | 7,317 | 7,320 | 6,790 | |||||||||||||
Net income | 3,223 | 1,942 | 1,061 | 1,886 | |||||||||||||
Earnings per share | $ | 0.79 | $ | 0.48 | $ | 0.26 | $ | 0.47 | |||||||||
2012 | |||||||||||||||||
Total interest income | $ | 10,665 | $ | 9,657 | $ | 9,405 | $ | 9,274 | |||||||||
Total interest expense | 1,753 | 1,604 | 1,538 | 1,451 | |||||||||||||
Net interest income | 8,912 | 8,053 | 7,867 | 7,823 | |||||||||||||
Provision for loan losses (4) | 1,316 | 524 | 1,183 | (1,440 | ) | ||||||||||||
Noninterest income (2) | 3,479 | 1,974 | 1,674 | 1,356 | |||||||||||||
Noninterest expense | 7,332 | 7,162 | 6,957 | 8,290 | |||||||||||||
Net income | 2,622 | 1,719 | 1,107 | 1,604 | |||||||||||||
Earnings per share | $ | 0.65 | $ | 0.43 | $ | 0.27 | $ | 0.4 | |||||||||
(1) During the third quarter of 2014, the Company experienced negative provision expense that was primarily related to a decrease in specific allocations impacted by the improvement in collateral values of an impaired commercial real estate loan relationship. A re-appraisal of the commercial properties securing the loan identified asset appreciation, which resulted in a $524 reduction to the specific allocation related to the loan. | |||||||||||||||||
(2) The Company’s noninterest income was significantly impacted by seasonal tax refund processing fees. The Bank serves as a facilitator for the clearing of tax refunds for a single tax refund product provider. The Bank processes electronic refund checks/deposits associated with taxpayer refunds, and will, in turn, receive a fee paid by the third-party tax refund product provider for each transaction processed. Due to the seasonal nature of tax refund transactions, the majority of income was recorded during the first quarter. | |||||||||||||||||
(3) During most of 2013, the Company experienced minimal to negative provision expense as a result of lower general allocations of the allowance for loan losses. General allocations were impacted by improved economic trends that include: decreasing historical loan loss factor, lower delinquencies and lower classified/criticized assets. | |||||||||||||||||
(4) During the fourth quarter of 2012, the Company experienced a large recovery of $1,250 on a previously charged-off commercial loan which lowered net charge-offs. The large decrease in net charge-offs contributed to a lower historical loan loss factor that created a lower level of general allocations within the allowance for loan losses. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Accounting Policies [Abstract] | |||||||||
Basis of Accounting, Policy [Policy Text Block] | Description of Business: Ohio Valley Banc Corp. (”Ohio Valley”) is a financial holding company registered under the Bank Holding Company Act of 1956. Ohio Valley has one banking subsidiary, The Ohio Valley Bank Company (the “Bank”), an Ohio state-chartered bank that is a member of the Federal Reserve Bank and is regulated primarily by the Ohio Division of Financial Institutions and the Federal Reserve Board. Ohio Valley also has a subsidiary that engages in consumer lending to individuals with higher credit risk history, Loan Central, Inc., a subsidiary insurance agency that facilitates the receipts of insurance commissions, Ohio Valley Financial Services Agency, LLC, and a limited purpose property and casualty insurance company, OVBC Captive, Inc. Ohio Valley and its subsidiaries are collectively referred to as the “Company.” | ||||||||
The Company provides a full range of commercial and retail banking services from 21 offices located in southeastern Ohio and western West Virginia. It accepts deposits in checking, savings, time and money market accounts and makes personal, commercial, floor plan, student, construction and real estate loans. Substantially all loans are secured by specific items of collateral, including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from business operations. The Company also offers safe deposit boxes, wire transfers and other standard banking products and services. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation. In addition to accepting deposits and making loans, the Bank invests in U. S. Government and agency obligations, interest-bearing deposits in other financial institutions and investments permitted by applicable law. | |||||||||
The Bank’s trust department provides a wide variety of fiduciary services for trusts, estates and benefit plans and also provides investment and security services as an agent for its customers. | |||||||||
Consolidation, Policy [Policy Text Block] | Principles of Consolidation: The consolidated financial statements include the accounts of Ohio Valley and its wholly-owned subsidiaries, the Bank, Loan Central, Inc., a consumer finance company, Ohio Valley Financial Services Agency, LLC, an insurance agency, and OVBC Captive, Inc. a limited purpose insurance company. All material intercompany accounts and transactions have been eliminated. | ||||||||
Segment Reporting, Policy [Policy Text Block] | Industry Segment Information: Internal financial information is primarily reported and aggregated in two lines of business, banking and consumer finance. | ||||||||
Use of Estimates, Policy [Policy Text Block] | Use of Estimates in the Preparation of Financial Statements: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents: Cash and cash equivalents include cash on hand, noninterest-bearing deposits with banks, federal funds sold and interest-bearing deposits with banks with maturity terms of less than 90 days. Generally, federal funds are purchased and sold for one-day periods. The Company reports net cash flows for customer loan transactions, deposit transactions, short-term borrowings and interest-bearing deposits with other financial institutions. | ||||||||
Interest-Bearing Deposits with Banks [Policy Text Block] | Interest-Bearing Deposits with Banks: Interest-bearing deposits with banks are carried at cost and have maturity terms of 90 days or greater. | ||||||||
Marketable Securities, Policy [Policy Text Block] | Securities: The Company classifies securities into held to maturity and available for sale categories. Held to maturity securities are those which the Company has the positive intent and ability to hold to maturity and are reported at amortized cost. Securities classified as available for sale include securities that could be sold for liquidity, investment management or similar reasons even if there is not a present intention of such a sale. Available for sale securities are reported at fair value, with unrealized gains or losses included in other comprehensive income, net of tax. | ||||||||
Premium amortization is deducted from, and discount accretion is added to, interest income on securities using the level yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses are recognized upon the sale of specific identified securities on the completed trade date. | |||||||||
Marketable Securities, Available-for-sale Securities, Policy [Policy Text Block] | Other-Than-Temporary Impairments of Securities: In determining an other-than-temporary impairment (“OTTI”), management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an OTTI decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time. | ||||||||
When an OTTI occurs, the amount of the OTTI recognized in earnings depends on whether an entity intends to sell the security or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, less any current-period credit loss. If an entity intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, less any current-period credit loss, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If an entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis less any current-period loss, the OTTI shall be separated into the amount representing the credit loss and the amount related to all other factors. The amount of the total OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected and is recognized in earnings. The amount of the total OTTI related to other factors is recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings becomes the new amortized cost basis of the investment. | |||||||||
Investment, Policy [Policy Text Block] | Federal Home Loan Bank (”FHLB”) and Federal Reserve Bank (“FRB”) Stock: The Bank is a member of the FHLB system. Additionally, the Bank is a member of the FRB system. Members are required to own a certain amount of stock based on their level of borrowings and other factors and may invest in additional amounts. FHLB stock and FRB stock are carried at cost, classified as restricted securities, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. | ||||||||
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans: Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of unearned interest, deferred loan fees and costs, and an allowance for loan losses. Interest income is reported on an accrual basis using the interest method and includes amortization of net deferred loan fees and costs over the loan term using the level yield method without anticipating prepayments. The amount of the Company’s recorded investment is not materially different than the amount of unpaid principal balance for loans. | ||||||||
Interest income is discontinued and the loan moved to non-accrual status when full loan repayment is in doubt, typically when the loan is impaired or payments are past due 90 days or over unless the loan is well-secured or in process of collection. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. Nonaccrual loans and loans past due 90 days or over and still accruing include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. | |||||||||
All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis method until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | |||||||||
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses: The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged-off. | ||||||||
The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Impaired loans generally consist of loans with balances of $200 or more on nonaccrual status or nonperforming in nature. Loans for which the terms have been modified and for which the borrower is experiencing financial difficulties are considered troubled debt restructurings and classified as impaired. | |||||||||
Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length and reasons for the delay, the borrower’s prior payment record, and the amount of shortfall in relation to the principal and interest owed. | |||||||||
Commercial and commercial real estate loans are individually evaluated for impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Smaller balance homogeneous loans, such as consumer and most residential real estate, are collectively evaluated for impairment, and accordingly, they are not separately identified for impairment disclosure. Troubled debt restructurings are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. | |||||||||
The general component covers non-impaired loans and impaired loans that are not individually reviewed for impairment and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent 3 years for the consumer and real estate portfolio segment and 5 years for the commercial portfolio segment. Prior to 2014, the commercial portfolio’s historical loss factor was based on a period of 3 years. During the first quarter of 2014, management extended the loan loss history to 5 years due to the significant decline in net charge-offs that have been experienced since the first quarter of 2012. The total loan portfolio’s actual loss experience is supplemented with other economic factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The following portfolio segments have been identified: Commercial and Industrial, Commercial Real Estate, Residential Real Estate, and Consumer. | |||||||||
Commercial and industrial loans consist of borrowings for commercial purposes to individuals, corporations, partnerships, sole proprietorships, and other business enterprises. Commercial and industrial loans are generally secured by business assets such as equipment, accounts receivable, inventory, or any other asset excluding real estate and generally made to finance capital expenditures or operations. The Company’s risk exposure is related to deterioration in the value of collateral securing the loan should foreclosure become necessary. Generally, business assets used or produced in operations do not maintain their value upon foreclosure which may require the Company to write-down the value significantly to sell. | |||||||||
Commercial real estate consists of nonfarm, nonresidential loans secured by owner-occupied and nonowner-occupied commercial real estate as well as commercial construction loans. An owner-occupied loan relates to a borrower purchased building or space for which the repayment of principal is dependent upon cash flows from the ongoing business operations conducted by the party, or an affiliate of the party, who owns the property. Owner-occupied loans that are dependent on cash flows from operations can be adversely affected by current market conditions for their product or service. A nonowner-occupied loan is a property loan for which the repayment of principal is dependent upon rental income associated with the property or the subsequent sale of the property. Nonowner-occupied loans that are dependent upon rental income are primarily impacted by local economic conditions which dictate occupancy rates and the amount of rent charged. Commercial construction loans consist of borrowings to purchase and develop raw land into 1-4 family residential properties. Construction loans are extended to individuals as well as corporations for the construction of an individual or multiple properties and are secured by raw land and the subsequent improvements. Repayment of the loans to real estate developers is dependent upon the sale of properties to third parties in a timely fashion upon completion. Should there be delays in construction or a downturn in the market for those properties, there may be significant erosion in value which may be absorbed by the Company. | |||||||||
Residential real estate loans consist of loans to individuals for the purchase of 1-4 family primary residences with repayment primarily through wage or other income sources of the individual borrower. The Company’s loss exposure to these loans is dependent on local market conditions for residential properties as loan amounts are determined, in part, by the fair value of the property at origination. | |||||||||
Consumer loans are comprised of loans to individuals secured by automobiles, open-end home equity loans and other loans to individuals for household, family, and other personal expenditures, both secured and unsecured. These loans typically have maturities of 6 years or less with repayment dependent on individual wages and income. The risk of loss on consumer loans is elevated as the collateral securing these loans, if any, rapidly depreciate in value or may be worthless and/or difficult to locate if repossession is necessary. The Company has allocated the highest percentage of its allowance for loan losses as a percentage of loans to the other identified loan portfolio segments due to the larger dollar balances associated with such portfolios. | |||||||||
At December 31, 2014, there were no changes to the accounting policies or methodologies within any of the Company’s loan portfolio segments from the prior period. | |||||||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk: The Company grants residential, consumer and commercial loans to customers located primarily in the southeastern Ohio and western West Virginia areas. | ||||||||
The following represents the composition of the Company’s loan portfolio as of December 31: | |||||||||
% of Total Loans | |||||||||
2014 | 2013 | ||||||||
Residential real estate loans | 37.6 | % | 38.73 | % | |||||
Commercial real estate loans | 29.86 | % | 32.47 | % | |||||
Consumer loans | 18.42 | % | 18.06 | % | |||||
Commercial and industrial loans | 14.12 | % | 10.74 | % | |||||
100 | % | 100 | % | ||||||
Approximately 5.66% of total loans were unsecured at December 31, 2014, up from 5.13% at December 31, 2013. | |||||||||
The Bank, in the normal course of its operations, conducts business with correspondent financial institutions. Balances in correspondent accounts, investments in federal funds, certificates of deposit and other short-term securities are closely monitored to ensure that prudent levels of credit and liquidity risks are maintained. At December 31, 2014, the Bank’s primary correspondent balance was $20,796 on deposit at the Federal Reserve Bank, Cleveland, Ohio. | |||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation, which is computed using the straight-line or declining balance methods over the estimated useful life of the owned asset and, for leasehold improvement, over the remaining term of the leased facility, whichever is shorter. The useful lives range from 3 to 8 years for equipment, furniture and fixtures and 7 to 39 years for buildings and improvements. | ||||||||
Real Estate, Policy [Policy Text Block] | Foreclosed assets: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating costs after acquisition are expensed. Foreclosed assets totaled $1,525 and $1,354 at December 31, 2014 and 2013. | ||||||||
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill: Goodwill resulting from business combinations prior to January 1, 2009 represents the excess of the purchase price over the fair value of the net assets of businesses acquired. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually. Goodwill is the only intangible asset with an indefinite life on our balance sheet. The Company has selected December 31, 2014 as the date to perform its annual qualitative impairment test. Given that the Company has been profitable and had positive equity, the qualitative assessment indicated that it was more likely than not that the fair value of goodwill was more than the carrying amount, resulting in no impairment. | ||||||||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-term Assets: Premises and equipment and other long-term assets are reviewed for impairment when events indicate their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. | ||||||||
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Mortgage Servicing Rights: A mortgage servicing right (“MSR”) is a contractual agreement where the right to service a mortgage loan is sold by the original lender to another party. When the Company sells mortgage loans to the secondary market, it retains the servicing rights to these loans. The Company’s MSR is recognized separately when acquired through sales of loans and is initially recorded at fair value with the income statement effect recorded in mortgage banking income. Subsequently, the MSR is then amortized in proportion to and over the period of estimated future servicing income of the underlying loan. The MSR is then evaluated for impairment periodically based upon the fair value of the rights as compared to the carrying amount, with any impairment being recognized through a valuation allowance. Fair value of the MSR is based on market prices for comparable mortgage servicing contracts. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. At December 31, 2014 and 2013, the Company’s MSR asset portfolio was $484 and $534, respectively. | ||||||||
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share: Earnings per share is based on net income divided by the following weighted average number of common shares outstanding during the periods: 4,099,194 for 2014; 4,064,083 for 2013; 4,030,322 for 2012. Ohio Valley had no dilutive securities outstanding for any period presented. | ||||||||
Income Tax, Policy [Policy Text Block] | Income Taxes: Income tax expense is the sum of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. | ||||||||
A tax position is recognized as a benefit only if it is ”more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the ”more likely than not” test, no tax benefit is recorded. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. | |||||||||
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income: Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale which are also recognized as separate components of equity, net of tax. | ||||||||
Commitments and Contingencies, Policy [Policy Text Block] | Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there now are such matters that will have a material effect on the financial statements. | ||||||||
Bank Owned Life Insurance and Annuity Assets [Policy Text Block] | Bank Owned Life Insurance and Annuity Assets: The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. The Company also purchased an annuity investment for a certain key executive that earns interest. | ||||||||
Employee Stock Ownership Plan (ESOP), Policy [Policy Text Block] | Employee Stock Ownership Plan: Compensation expense is based on the market price of shares as they are committed to be allocated to participant accounts. | ||||||||
Loan Commitments, Policy [Policy Text Block] | Loan Commitments and Related Financial Instruments: Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. These financial instruments are recorded when they are funded. See Note J for more specific disclosure related to loan commitments. | ||||||||
Dividend Restrictions [Policy Text Block] | Dividend Restrictions: Banking regulations require maintaining certain capital levels and may limit the dividends paid by the Bank to Ohio Valley or by Ohio Valley to its shareholders. See Note N for more specific disclosure related to dividend restrictions. | ||||||||
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restrictions on Cash: Cash on hand or on deposit with a third-party correspondent and the Federal Reserve Bank of $22,122 and $19,268 was required to meet regulatory reserve and clearing requirements at year-end 2014 and 2013. The balances on deposit with a third-party correspondent do not earn interest. | ||||||||
Derivatives, Policy [Policy Text Block] | Derivatives: At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation (“stand-alone derivative”). | ||||||||
Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. | |||||||||
At December 31, 2014 and 2013, the Company’s only derivatives on hand were interest rate swaps, which are classified as stand-alone derivatives. See Note F for more specific disclosures related to interest rate swaps. | |||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments: Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note M. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. | ||||||||
Reclassification, Policy [Policy Text Block] | Reclassifications: The consolidated financial statements for 2013 and 2012 have been reclassified to conform with the presentation for 2014. These reclassifications had no effect on the net results of operations or shareholders’ equity. | ||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | Adoption of New Accounting Standards: In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2014-04, "Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40)" (ASU 2014-04). The amendments in ASU 2014-04 clarify the circumstances under which an in substance repossession or foreclosure occurs and when a creditor is considered to have received physical possession of a residential real estate property collateralizing a residential real estate loan. The amendments in ASU 2014-04 also require interim and annual disclosure of the amount of foreclosed residential real estate property held by the creditor and the recorded investment in loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU 2014-04 was effective for reporting periods beginning after December 15, 2014. The effect of adopting ASU 2014-04 did not have a material effect on the Company’s financial statements. | ||||||||
In May 2014, FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). The ASU creates a new topic, Topic 606, to provide guidance on revenue recognition for entities that enter into contracts with customers to transfer goods or services or enter into contracts for the transfer of nonfinancial assets. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additional disclosures are required to provide quantitative and qualitative information regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new guidance is effective for annual reporting periods, and interim reporting periods within those annual periods, beginning after December 15, 2016. Early adoption is not permitted. Management is currently evaluating the impact of the adoption of this guidance on the Company's financial statements. |
Note_1_Summary_of_Significant_1
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Accounting Policies [Abstract] | |||||||||
Composition of Loan Portfolio []Table Text Block] | % of Total Loans | ||||||||
2014 | 2013 | ||||||||
Residential real estate loans | 37.6 | % | 38.73 | % | |||||
Commercial real estate loans | 29.86 | % | 32.47 | % | |||||
Consumer loans | 18.42 | % | 18.06 | % | |||||
Commercial and industrial loans | 14.12 | % | 10.74 | % | |||||
100 | % | 100 | % |
Note_2_Securities_Tables
Note 2 - Securities (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Note 2 - Securities (Tables) [Line Items] | |||||||||||||||||||||||||
Available-for-sale Securities [Table Text Block] | Amortized | Gross Unrealized | Gross Unrealized | Estimated | |||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
U.S. Government sponsored entity securities | $ | 9,019 | $ | 2 | (104 | ) | $ | 8,917 | |||||||||||||||||
Agency mortgage-backed securities, residential | 74,762 | 1,693 | (136 | ) | 76,319 | ||||||||||||||||||||
Total securities | $ | 83,781 | $ | 1,695 | (240 | ) | $ | 85,236 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
U.S. Government sponsored entity securities | $ | 9,028 | $ | 4 | (180 | ) | $ | 8,852 | |||||||||||||||||
Agency mortgage-backed securities, residential | 74,661 | 1,257 | (702 | ) | 75,216 | ||||||||||||||||||||
Total securities | $ | 83,689 | $ | 1,261 | (882 | ) | $ | 84,068 | |||||||||||||||||
Held-to-maturity Securities [Table Text Block] | Amortized | Gross Unrecognized | Gross Unrecognized | Estimated | |||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
Securities Held to Maturity | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 22,811 | $ | 939 | $ | (189 | ) | $ | 23,561 | ||||||||||||||||
Agency mortgage-backed securities, residential | 9 | ---- | ---- | 9 | |||||||||||||||||||||
Total securities | $ | 22,820 | $ | 939 | $ | (189 | ) | $ | 23,570 | ||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Obligations of states and political subdivisions | $ | 22,814 | $ | 579 | $ | (421 | ) | $ | 22,972 | ||||||||||||||||
Agency mortgage-backed securities, residential | 12 | ---- | ---- | 12 | |||||||||||||||||||||
Total securities | $ | 22,826 | $ | 579 | $ | (421 | ) | $ | 22,984 | ||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | Available for Sale | Held to Maturity | |||||||||||||||||||||||
Debt Securities: | Amortized | Estimated | Amortized | Estimated | |||||||||||||||||||||
Cost | Fair | Cost | Fair | ||||||||||||||||||||||
Value | Value | ||||||||||||||||||||||||
Due in one year or less | $ | ---- | $ | ---- | $ | 131 | $ | 131 | |||||||||||||||||
Due in one to five years | 9,019 | 8,917 | 7,459 | 7,874 | |||||||||||||||||||||
Due in five to ten years | ---- | ---- | 11,702 | 12,053 | |||||||||||||||||||||
Due after ten years | ---- | ---- | 3,519 | 3,503 | |||||||||||||||||||||
Agency mortgage-backed securities, residential | 74,762 | 76,319 | 9 | 9 | |||||||||||||||||||||
Total debt securities | $ | 83,781 | $ | 85,236 | $ | 22,820 | $ | 23,570 | |||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | 31-Dec-14 | Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||
Securities Available for Sale | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. Government sponsored entity securities | $ | ---- | $ | ---- | $ | 7,911 | $ | (104 | ) | $ | 7,911 | $ | (104 | ) | |||||||||||
Agency mortgage-backed securities, residential | 11,232 | (20 | ) | 8,397 | (116 | ) | 19,629 | (136 | ) | ||||||||||||||||
Total available for sale | $ | 11,232 | $ | (20 | ) | $ | 16,308 | $ | (220 | ) | $ | 27,540 | $ | (240 | ) | ||||||||||
31-Dec-13 | Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Securities Available for Sale | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. Government sponsored entity securities | $ | 7,841 | $ | (180 | ) | $ | ---- | $ | ---- | $ | 7,841 | $ | (180 | ) | |||||||||||
Agency mortgage-backed securities, residential | 25,775 | (702 | ) | ---- | ---- | 25,775 | (702 | ) | |||||||||||||||||
Total available for sale | $ | 33,616 | $ | (882 | ) | $ | ---- | $ | ---- | $ | 33,616 | $ | (882 | ) | |||||||||||
Held-to-maturity Securities [Member] | |||||||||||||||||||||||||
Note 2 - Securities (Tables) [Line Items] | |||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Securities Held to Maturity | Fair | Unrecognized | Fair | Unrecognized | Fair | Unrecognized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Obligations of states and political subdivisions | $ | 1,171 | $ | (9 | ) | $ | 2,916 | $ | (180 | ) | $ | 4,087 | $ | (189 | ) | ||||||||||
Total held to maturity | $ | 1,171 | $ | (9 | ) | $ | 2,916 | $ | (180 | ) | $ | 4,087 | $ | (189 | ) | ||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
Securities Held to Maturity | Fair | Unrecognized | Fair | Unrecognized | Fair | Unrecognized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
Obligations of states and political subdivisions | $ | 6,743 | $ | (307 | ) | $ | 1,142 | $ | (114 | ) | $ | 7,885 | $ | (421 | ) | ||||||||||
Total held to maturity | $ | 6,743 | $ | (307 | ) | $ | 1,142 | $ | (114 | ) | $ | 7,885 | $ | (421 | ) |
Note_3_Loans_and_Allowance_for1
Note 3 - Loans and Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2014 | 2013 | |||||||||||||||||||||||
Residential real estate | $ | 223,628 | $ | 219,365 | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 78,848 | 83,988 | |||||||||||||||||||||||
Nonowner-occupied | 71,229 | 74,047 | |||||||||||||||||||||||
Construction | 27,535 | 25,836 | |||||||||||||||||||||||
Commercial and industrial | 83,998 | 60,803 | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Automobile | 42,849 | 38,811 | |||||||||||||||||||||||
Home equity | 18,291 | 17,748 | |||||||||||||||||||||||
Other | 48,390 | 45,721 | |||||||||||||||||||||||
594,768 | 566,319 | ||||||||||||||||||||||||
Less: Allowance for loan losses | 8,334 | 6,155 | |||||||||||||||||||||||
Loans, net | $ | 586,434 | $ | 560,164 | |||||||||||||||||||||
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | 31-Dec-14 | Residential | Commercial | Commercial | Consumer | Total | |||||||||||||||||||
Real Estate | Real Estate | & Industrial | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 1,169 | $ | 2,914 | $ | 1,279 | $ | 793 | $ | 6,155 | |||||||||||||||
Provision for loan losses | 458 | 1,408 | (28 | ) | 949 | 2,787 | |||||||||||||||||||
Loans charged off | (487 | ) | (235 | ) | (41 | ) | (1,216 | ) | (1,979 | ) | |||||||||||||||
Recoveries | 286 | 108 | 392 | 585 | 1,371 | ||||||||||||||||||||
Total ending allowance balance | $ | 1,426 | $ | 4,195 | $ | 1,602 | $ | 1,111 | $ | 8,334 | |||||||||||||||
31-Dec-13 | Residential | Commercial | Commercial | Consumer | Total | ||||||||||||||||||||
Real Estate | Real Estate | & Industrial | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 1,329 | $ | 3,946 | $ | 783 | $ | 847 | $ | 6,905 | |||||||||||||||
Provision for loan losses | 377 | (1,375 | ) | 1,031 | 444 | 477 | |||||||||||||||||||
Loans charged off | (819 | ) | (2 | ) | (600 | ) | (1,279 | ) | (2,700 | ) | |||||||||||||||
Recoveries | 282 | 345 | 65 | 781 | 1,473 | ||||||||||||||||||||
Total ending allowance balance | $ | 1,169 | $ | 2,914 | $ | 1,279 | $ | 793 | $ | 6,155 | |||||||||||||||
31-Dec-12 | Residential | Commercial | Commercial | Consumer | Total | ||||||||||||||||||||
Real Estate | Real Estate | & Industrial | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Beginning balance | $ | 1,860 | $ | 3,493 | $ | 636 | $ | 1,355 | $ | 7,344 | |||||||||||||||
Provision for loan losses | 395 | 2,788 | (1,802 | ) | 202 | 1,583 | |||||||||||||||||||
Loans charged off | (1,066 | ) | (2,378 | ) | (70 | ) | (1,622 | ) | (5,136 | ) | |||||||||||||||
Recoveries | 140 | 43 | 2,019 | 912 | 3,114 | ||||||||||||||||||||
Total ending allowance balance | $ | 1,329 | $ | 3,946 | $ | 783 | $ | 847 | $ | 6,905 | |||||||||||||||
Allowance for Loan Losses and the Recorded Investment of Loans [Table Text Block] | 31-Dec-14 | Residential | Commercial | Commercial | Consumer | Total | |||||||||||||||||||
Real Estate | Real Estate | & Industrial | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | ---- | $ | 2,506 | $ | 900 | $ | 6 | $ | 3,412 | |||||||||||||||
Collectively evaluated for impairment | 1,426 | 1,689 | 702 | 1,105 | 4,922 | ||||||||||||||||||||
Total ending allowance balance | $ | 1,426 | $ | 4,195 | $ | 1,602 | $ | 1,111 | $ | 8,334 | |||||||||||||||
Loans: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 1,415 | $ | 11,711 | $ | 6,824 | $ | 219 | $ | 20,169 | |||||||||||||||
Loans collectively evaluated for impairment | 222,213 | 165,901 | 77,174 | 109,311 | 574,599 | ||||||||||||||||||||
Total ending loans balance | $ | 223,628 | $ | 177,612 | $ | 83,998 | $ | 109,530 | $ | 594,768 | |||||||||||||||
31-Dec-13 | Residential | Commercial | Commercial | Consumer | Total | ||||||||||||||||||||
Real Estate | Real Estate | & Industrial | |||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Ending allowance balance attributable to loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ | 93 | $ | 1,661 | $ | 864 | $ | 7 | $ | 2,625 | |||||||||||||||
Collectively evaluated for impairment | 1,076 | 1,253 | 415 | 786 | 3,530 | ||||||||||||||||||||
Total ending allowance balance | $ | 1,169 | $ | 2,914 | $ | 1,279 | $ | 793 | $ | 6,155 | |||||||||||||||
Loans: | |||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 1,019 | $ | 10,801 | $ | 2,658 | $ | 218 | $ | 14,696 | |||||||||||||||
Loans collectively evaluated for impairment | 218,346 | 173,070 | 58,145 | 102,062 | 551,623 | ||||||||||||||||||||
Total ending loans balance | $ | 219,365 | $ | 183,871 | $ | 60,803 | $ | 102,280 | $ | 566,319 | |||||||||||||||
Schedule of Loans Individually Evaluated for Impairment [Table Text Block] | 31-Dec-14 | Unpaid | Recorded | Allowance | Average | Interest | Cash Basis | ||||||||||||||||||
Principal | Investment | for | Impaired | Income | Interest | ||||||||||||||||||||
Balance | Loan Losses | Loans | Recognized | Recognized | |||||||||||||||||||||
Allocated | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Residential real estate | $ | ---- | $ | ---- | $ | ---- | $ | ---- | $ | 6 | $ | 6 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 1,177 | 1,177 | 414 | 471 | 32 | 32 | |||||||||||||||||||
Nonowner-occupied | 7,656 | 7,656 | 2,092 | 8,303 | 398 | 398 | |||||||||||||||||||
Commercial and industrial | 2,356 | 2,356 | 900 | 2,441 | 110 | 110 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | 219 | 219 | 6 | 219 | 7 | 7 | |||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Residential real estate | 1,415 | 1,415 | ---- | 882 | 58 | 58 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 3,125 | 2,578 | ---- | 2,135 | 113 | 113 | |||||||||||||||||||
Nonowner-occupied | 1,298 | 300 | ---- | 300 | 50 | 50 | |||||||||||||||||||
Commercial and industrial | 4,703 | 4,468 | ---- | 2,278 | 180 | 180 | |||||||||||||||||||
Total | $ | 21,949 | $ | 20,169 | $ | 3,412 | $ | 17,029 | $ | 954 | $ | 954 | |||||||||||||
31-Dec-13 | Unpaid | Recorded | Allowance | Average | Interest | Cash Basis | |||||||||||||||||||
Principal | Investment | for | Impaired | Income | Interest | ||||||||||||||||||||
Balance | Loan Losses | Loans | Recognized | Recognized | |||||||||||||||||||||
Allocated | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Residential real estate | $ | 253 | $ | 253 | $ | 93 | $ | 101 | $ | 12 | $ | 12 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 290 | 290 | 157 | 116 | ---- | ---- | |||||||||||||||||||
Nonowner-occupied | 3,776 | 3,776 | 1,504 | 3,846 | 187 | 187 | |||||||||||||||||||
Commercial and industrial | 2,658 | 2,658 | 864 | 1,836 | 142 | 142 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | 218 | 218 | 7 | 87 | 9 | 9 | |||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Residential real estate | 766 | 766 | ---- | 539 | 47 | 47 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 2,188 | 1,641 | ---- | 1,469 | 73 | 73 | |||||||||||||||||||
Nonowner-occupied | 6,106 | 5,094 | ---- | 5,699 | 311 | 311 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | ---- | ---- | ---- | ---- | 3 | 3 | |||||||||||||||||||
Total | $ | 16,255 | $ | 14,696 | $ | 2,625 | $ | 13,693 | $ | 784 | $ | 784 | |||||||||||||
31-Dec-12 | Unpaid | Recorded | Allowance | Average | Interest | Cash Basis | |||||||||||||||||||
Principal | Investment | for | Impaired | Income | Interest | ||||||||||||||||||||
Balance | Loan Losses | Loans | Recognized | Recognized | |||||||||||||||||||||
Allocated | |||||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Nonowner-occupied | $ | 2,399 | $ | 2,399 | $ | 2,107 | $ | 1,552 | $ | 61 | $ | 61 | |||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||
Residential real estate | 619 | 407 | ---- | 493 | ---- | ---- | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 6,198 | 6,198 | ---- | 4,998 | 354 | 354 | |||||||||||||||||||
Nonowner-occupied | 9,841 | 8,177 | ---- | 4,498 | 440 | 440 | |||||||||||||||||||
Commercial and industrial | ---- | ---- | ---- | ---- | ---- | ---- | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | 220 | 220 | ---- | 176 | 9 | 9 | |||||||||||||||||||
Total | $ | 19,277 | $ | 17,401 | $ | 2,107 | $ | 11,717 | $ | 864 | $ | 864 | |||||||||||||
Schedule of Recorded Investment in Nonaccrual Loans [Table Text Block] | Loans Past Due | Nonaccrual | |||||||||||||||||||||||
90 Days | |||||||||||||||||||||||||
And Still | |||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Residential real estate | $ | ---- | $ | 3,768 | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | ---- | 1,484 | |||||||||||||||||||||||
Nonowner-occupied | ---- | 4,013 | |||||||||||||||||||||||
Commercial and industrial | ---- | 95 | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Automobile | 15 | 18 | |||||||||||||||||||||||
Home equity | ---- | 103 | |||||||||||||||||||||||
Other | 58 | 68 | |||||||||||||||||||||||
Total | $ | 73 | $ | 9,549 | |||||||||||||||||||||
Loans Past Due | Nonaccrual | ||||||||||||||||||||||||
90 Days | |||||||||||||||||||||||||
And Still | |||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Residential real estate | $ | 72 | $ | 2,662 | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | ---- | 799 | |||||||||||||||||||||||
Nonowner-occupied | ---- | 52 | |||||||||||||||||||||||
Commercial and industrial | ---- | 21 | |||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Automobile | 5 | 8 | |||||||||||||||||||||||
Home equity | ---- | 38 | |||||||||||||||||||||||
Other | 1 | ---- | |||||||||||||||||||||||
Total | $ | 78 | $ | 3,580 | |||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | 31-Dec-14 | 30-59 | 60-89 | 90 Days | Total | Loans Not | Total | ||||||||||||||||||
Days | Days | Or More | Past Due | Past Due | |||||||||||||||||||||
Past Due | Past Due | Past Due | |||||||||||||||||||||||
Residential real estate | $ | 3,337 | $ | 612 | $ | 3,489 | $ | 7,438 | $ | 216,190 | $ | 223,628 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 74 | 62 | 1,422 | 1,558 | 77,290 | 78,848 | |||||||||||||||||||
Nonowner-occupied | ---- | ---- | ---- | ---- | 71,229 | 71,229 | |||||||||||||||||||
Construction | 932 | ---- | ---- | 932 | 26,603 | 27,535 | |||||||||||||||||||
Commercial and industrial | ---- | 10 | 24 | 34 | 83,964 | 83,998 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Automobile | 616 | 149 | 33 | 798 | 42,051 | 42,849 | |||||||||||||||||||
Home equity | ---- | ---- | 103 | 103 | 18,188 | 18,291 | |||||||||||||||||||
Other | 655 | 20 | 126 | 801 | 47,589 | 48,390 | |||||||||||||||||||
Total | $ | 5,614 | $ | 853 | $ | 5,197 | $ | 11,664 | $ | 583,104 | $ | 594,768 | |||||||||||||
31-Dec-13 | 30-59 | 60-89 | 90 Days | Total | Loans Not | Total | |||||||||||||||||||
Days | Days | Or More | Past Due | Past Due | |||||||||||||||||||||
Past Due | Past Due | Past Due | |||||||||||||||||||||||
Residential real estate | $ | 3,922 | $ | 1,324 | $ | 2,620 | $ | 7,866 | $ | 211,499 | $ | 219,365 | |||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | 206 | 100 | 683 | 989 | 82,999 | 83,988 | |||||||||||||||||||
Nonowner-occupied | ---- | ---- | 52 | 52 | 73,995 | 74,047 | |||||||||||||||||||
Construction | 60 | ---- | ---- | 60 | 25,776 | 25,836 | |||||||||||||||||||
Commercial and industrial | 193 | 49 | 21 | 263 | 60,540 | 60,803 | |||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Automobile | 638 | 123 | 13 | 774 | 38,037 | 38,811 | |||||||||||||||||||
Home equity | ---- | ---- | 38 | 38 | 17,710 | 17,748 | |||||||||||||||||||
Other | 651 | 38 | 1 | 690 | 45,031 | 45,721 | |||||||||||||||||||
Total | $ | 5,670 | $ | 1,634 | $ | 3,428 | $ | 10,732 | $ | 555,587 | $ | 566,319 | |||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | TDR’s | TDR’s Not | Total | ||||||||||||||||||||||
Performing to | Performing to | TDR’s | |||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Residential real estate | |||||||||||||||||||||||||
Interest only payments | $ | 520 | $ | ---- | $ | 520 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | |||||||||||||||||||||||||
Interest only payments | 457 | ---- | 457 | ||||||||||||||||||||||
Rate reduction | ---- | 244 | 244 | ||||||||||||||||||||||
Reduction of principal and interest payments | 627 | ---- | 627 | ||||||||||||||||||||||
Maturity extension at lower stated rate than market rate | 1,046 | ---- | 1,046 | ||||||||||||||||||||||
Credit extension at lower stated rate than market rate | 204 | ---- | 204 | ||||||||||||||||||||||
Nonowner-occupied | |||||||||||||||||||||||||
Interest only payments | 3,535 | 4,013 | 7,548 | ||||||||||||||||||||||
Rate reduction | 408 | ---- | 408 | ||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||
Interest only payments | 6,429 | ---- | 6,429 | ||||||||||||||||||||||
Credit extension at lower stated rate than market rate | 395 | ---- | 395 | ||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||
Maturity extension at lower stated rate than market rate | 219 | ---- | 219 | ||||||||||||||||||||||
Total TDR’s | $ | 13,840 | $ | 4,257 | $ | 18,097 | |||||||||||||||||||
TDR’s | TDR’s Not | Total | |||||||||||||||||||||||
Performing to | Performing to | TDR’s | |||||||||||||||||||||||
Modified | Modified | ||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Residential real estate | |||||||||||||||||||||||||
Interest only payments | $ | 527 | $ | ---- | $ | 527 | |||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | |||||||||||||||||||||||||
Rate reduction | ---- | 259 | 259 | ||||||||||||||||||||||
Reduction of principal and interest payments | 650 | ---- | 650 | ||||||||||||||||||||||
Maturity extension at lower stated rate than market rate | 271 | ---- | 271 | ||||||||||||||||||||||
Nonowner-occupied | |||||||||||||||||||||||||
Interest only payments | 8,450 | ---- | 8,450 | ||||||||||||||||||||||
Rate reduction | 420 | ---- | 420 | ||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||
Interest only payments | 1,811 | ---- | 1,811 | ||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||
Maturity extension at lower stated rate than market rate | 218 | ---- | 218 | ||||||||||||||||||||||
Total TDR’s | $ | 12,347 | $ | 259 | $ | 12,606 | |||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables, Pre and Post Modification [Table Text Block] | TDR’s | TDR’s Not | |||||||||||||||||||||||
Performing to Modified | Performing to Modified | ||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | |||||||||||||||||||||||||
Interest only payments | $ | 457 | $ | 457 | ---- | ---- | |||||||||||||||||||
Maturity extension at lower stated rate than market rate | 746 | 746 | ---- | ---- | |||||||||||||||||||||
Credit extension at lower stated rate than market rate | 204 | 204 | |||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||
Interest only payments | 4,073 | 4,073 | ---- | ---- | |||||||||||||||||||||
Credit extension at lower stated rate than market rate | 395 | 395 | ---- | ---- | |||||||||||||||||||||
Total TDR’s | $ | 5,875 | $ | 5,875 | ---- | ---- | |||||||||||||||||||
TDR’s | TDR’s Not | ||||||||||||||||||||||||
Performing to Modified | Performing to Modified | ||||||||||||||||||||||||
Terms | Terms | ||||||||||||||||||||||||
Pre-Modification | Post-Modification | Pre-Modification | Post-Modification | ||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Residential real estate | |||||||||||||||||||||||||
Interest only payments | $ | 527 | $ | 527 | ---- | ---- | |||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||
Interest only payments | 1,811 | 1,811 | ---- | ---- | |||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||
Maturity extension at lower stated rate than market rate | 218 | 218 | ---- | ---- | |||||||||||||||||||||
Total TDR’s | $ | 2,556 | $ | 2,556 | ---- | ---- | |||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | 31-Dec-14 | Pass | Criticized | Classified | Total | ||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | $ | 72,232 | $ | 2,102 | $ | 4,514 | $ | 78,848 | |||||||||||||||||
Nonowner-occupied | 60,491 | 2,127 | 8,611 | 71,229 | |||||||||||||||||||||
Construction | 27,364 | ---- | 171 | 27,535 | |||||||||||||||||||||
Commercial and industrial | 76,395 | 495 | 7,108 | 83,998 | |||||||||||||||||||||
Total | $ | 236,482 | $ | 4,724 | $ | 20,404 | $ | 261,610 | |||||||||||||||||
31-Dec-13 | Pass | Criticized | Classified | Total | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||
Owner-occupied | $ | 76,677 | $ | 5,310 | $ | 2,001 | $ | 83,988 | |||||||||||||||||
Nonowner-occupied | 62,301 | 7,107 | 4,639 | 74,047 | |||||||||||||||||||||
Construction | 24,545 | ---- | 1,291 | 25,836 | |||||||||||||||||||||
Commercial and industrial | 53,416 | 4,081 | 3,306 | 60,803 | |||||||||||||||||||||
Total | $ | 216,939 | $ | 16,498 | $ | 11,237 | $ | 244,674 | |||||||||||||||||
Performing and Nonperforming Loans [Table Text Block] | Consumer | ||||||||||||||||||||||||
31-Dec-14 | Automobile | Home Equity | Other | Residential | Total | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Performing | $ | 42,816 | $ | 18,188 | $ | 48,264 | $ | 219,860 | $ | 329,128 | |||||||||||||||
Nonperforming | 33 | 103 | 126 | 3,768 | 4,030 | ||||||||||||||||||||
Total | $ | 42,849 | $ | 18,291 | $ | 48,390 | $ | 223,628 | $ | 333,158 | |||||||||||||||
Consumer | |||||||||||||||||||||||||
31-Dec-13 | Automobile | Home Equity | Other | Residential | Total | ||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||
Performing | $ | 38,798 | $ | 17,710 | $ | 45,720 | $ | 216,631 | $ | 318,859 | |||||||||||||||
Nonperforming | 13 | 38 | 1 | 2,734 | 2,786 | ||||||||||||||||||||
Total | $ | 38,811 | $ | 17,748 | $ | 45,721 | $ | 219,365 | $ | 321,645 |
Note_4_Premises_and_Equipment_
Note 4 - Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment [Table Text Block] | 2014 | 2013 | |||||||
Land | $ | 2,045 | $ | 1,900 | |||||
Buildings | 11,083 | 10,342 | |||||||
Leasehold improvements | 2,767 | 2,911 | |||||||
Furniture and equipment | 15,146 | 15,060 | |||||||
31,041 | 30,213 | ||||||||
Less accumulated depreciation | 21,846 | 21,208 | |||||||
Total premises and equipment | $ | 9,195 | $ | 9,005 | |||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | 2015 | $ | 456 | ||||||
2016 | 336 | ||||||||
2017 | 234 | ||||||||
2018 | 103 | ||||||||
2019 | 3 | ||||||||
$ | 1,132 |
Note_5_Deposits_Tables
Note 5 - Deposits (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Disclosure Text Block [Abstract] | |||||||||
Schedule of Interest Bearing Deposits [Table Text Block] | 2014 | 2013 | |||||||
NOW accounts | $ | 112,571 | $ | 106,342 | |||||
Savings and Money Market | 198,788 | 200,237 | |||||||
Time: | |||||||||
In denominations of $250,000 or less | 164,219 | 163,057 | |||||||
In denominations of more than $250,000 | 9,458 | 9,418 | |||||||
Total time deposits | 173,677 | 172,475 | |||||||
Total interest-bearing deposits | $ | 485,036 | $ | 479,054 | |||||
Maturities of Time Deposits [Table Text Block] | 2015 | $ | 94,645 | ||||||
2016 | 40,212 | ||||||||
2017 | 16,253 | ||||||||
2018 | 12,407 | ||||||||
2019 | 9,614 | ||||||||
Thereafter | 546 | ||||||||
Total | $ | 173,677 |
Note_7_Other_Borrowed_Funds_Ta
Note 7 - Other Borrowed Funds (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | FHLB | Promissory | Totals | ||||||||||
Borrowings | Notes | ||||||||||||
2014 | $ | 21,181 | $ | 3,791 | $ | 24,972 | |||||||
2013 | $ | 15,219 | $ | 3,529 | $ | 18,748 | |||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | FHLB | Promissory | Totals | ||||||||||
Borrowings | Notes | ||||||||||||
2015 | $ | 1,773 | $ | 2,044 | $ | 3,817 | |||||||
2016 | 1,594 | 1,747 | 3,341 | ||||||||||
2017 | 4,534 | 4,534 | |||||||||||
2018 | 1,484 | ---- | 1,484 | ||||||||||
2019 | 1,443 | ---- | 1,443 | ||||||||||
Thereafter | 10,353 | ---- | 10,353 | ||||||||||
$ | 21,181 | $ | 3,791 | $ | 24,972 |
Note_9_Income_Taxes_Tables
Note 9 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||
Current tax expense | $ | 3,637 | $ | 2,795 | $ | 2,968 | |||||||
Deferred tax (benefit) expense | (517 | ) | 144 | (206 | ) | ||||||||
Total income taxes | $ | 3,120 | $ | 2,939 | $ | 2,762 | |||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2014 | 2013 | |||||||||||
Items giving rise to deferred tax assets: | |||||||||||||
Allowance for loan losses | $ | 2,882 | $ | 2,139 | |||||||||
Deferred compensation | 2,008 | 1,847 | |||||||||||
Deferred loan fees/costs | 288 | 290 | |||||||||||
Other real estate owned | 370 | 403 | |||||||||||
Other | 84 | 205 | |||||||||||
Items giving rise to deferred tax liabilities: | |||||||||||||
Mortgage servicing rights | (167 | ) | (185 | ) | |||||||||
FHLB stock dividends | (1,074 | ) | (1,081 | ) | |||||||||
Unrealized gain on securities available for sale | (495 | ) | (128 | ) | |||||||||
Prepaid expenses | (206 | ) | (5 | ) | |||||||||
Depreciation and amortization | (451 | ) | (397 | ) | |||||||||
Other | (2 | ) | (1 | ) | |||||||||
Net deferred tax asset | $ | 3,237 | $ | 3,087 | |||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||
Statutory tax | $ | 3,806 | $ | 3,757 | $ | 3,337 | |||||||
Effect of nontaxable interest | (418 | ) | (322 | ) | (302 | ) | |||||||
Effect of nontaxable insurance premiums | (142 | ) | ---- | ---- | |||||||||
Income from bank owned insurance, net | (217 | ) | (195 | ) | (100 | ) | |||||||
Effect of postretirement benefits | 238 | ---- | ---- | ||||||||||
Effect of nontaxable life insurance death proceeds | ---- | (154 | ) | ---- | |||||||||
Effect of state income tax | 73 | 76 | 53 | ||||||||||
Tax credits | (231 | ) | (230 | ) | (250 | ) | |||||||
Other items | 11 | 7 | 24 | ||||||||||
Total income taxes | $ | 3,120 | $ | 2,939 | $ | 2,762 |
Note_10_Commitments_and_Contin1
Note 10 - Commitments and Contingent Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||
Other Commitments [Table Text Block] | 2014 | 2013 | |||||||
Fixed rate | $ | 223 | $ | 237 | |||||
Variable rate | 51,011 | 60,971 | |||||||
Standby letters of credit | 4,110 | 6,257 |
Note_11_Related_Party_Transact1
Note 11 - Related Party Transactions (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Related Party Transactions [Abstract] | |||||
Schedule of Related Party Transactions [Table Text Block] | Total loans at January 1, 2014 | $ | 5,679 | ||
New loans | 37 | ||||
Repayments | (532 | ) | |||
Other changes | ---- | ||||
Total loans at December 31, 2014 | $ | 5,184 |
Note_12_Employee_Benefits_Tabl
Note 12 - Employee Benefits (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||||
Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] | Years ended December 31 | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Number of shares issued | 14,618 | 28,634 | 32,765 | ||||||||||
Fair value of stock contributed | $ | 351 | $ | 640 | $ | 617 | |||||||
Cash contributed | 300 | 73 | 82 | ||||||||||
Total expense | $ | 651 | $ | 713 | $ | 699 |
Note_13_Fair_Value_of_Financia1
Note 13 - Fair Value of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Fair Value Measurements at December 31, 2014, Using | ||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
U.S. Government sponsored entity securities | ---- | $ | 8,917 | ---- | |||||||||||||||||
Agency mortgage-backed securities, residential | ---- | 76,319 | ---- | ||||||||||||||||||
Fair Value Measurements at December 31, 2013, Using | |||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
U.S. Government sponsored entity securities | ---- | $ | 8,852 | ---- | |||||||||||||||||
Agency mortgage-backed securities, residential | ---- | 75,216 | ---- | ||||||||||||||||||
Fair Value Measurements at December 31, 2014, Using | |||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Owner-occupied | ---- | ---- | $ | 1,679 | |||||||||||||||||
Nonowner-occupied | ---- | ---- | 5,270 | ||||||||||||||||||
Commercial and industrial | ---- | ---- | 2,532 | ||||||||||||||||||
Other real estate owned: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | ---- | ---- | 1,147 | ||||||||||||||||||
Fair Value Measurements at December 31, 2013, Using | |||||||||||||||||||||
Quoted Prices in | Significant Other | Significant | |||||||||||||||||||
Active Markets | Observable | Unobservable | |||||||||||||||||||
for Identical | Inputs | Inputs | |||||||||||||||||||
Assets | (Level 2) | (Level 3) | |||||||||||||||||||
(Level 1) | |||||||||||||||||||||
Assets: | |||||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Residential real estate | ---- | ---- | $ | 234 | |||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Owner-occupied | ---- | ---- | 133 | ||||||||||||||||||
Nonowner-occupied | ---- | ---- | 1,973 | ||||||||||||||||||
Commercial and industrial | ---- | ---- | 2,863 | ||||||||||||||||||
Other real estate owned: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | ---- | ---- | 1,058 | ||||||||||||||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | 31-Dec-14 | Fair Value | Valuation | Unobservable | Range | (Weighted | |||||||||||||||
Technique(s) | Input(s) | Average) | |||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Owner-occupied | $ | 1,679 | Sales approach | Adjustment to comparables | 0.30% | to | 62 | % | 18 | % | |||||||||||
Income approach | Capitalization Rate | 10 | % | 10 | % | ||||||||||||||||
Nonowner-occupied | 2,597 | Income approach | Capitalization Rate | 6.5 | % | 6.5 | % | ||||||||||||||
Nonowner-occupied | 2,673 | Sales approach | Adjustment to comparables | 0% | to | 12.5 | % | 5.7 | % | ||||||||||||
Commercial and industrial | 2,532 | Sales approach | Adjustment to comparables | 10% | to | 30 | % | 21.42 | % | ||||||||||||
Other real estate owned: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 1,147 | Sales approach | Adjustment to comparables | 5% | to | 35 | % | 18 | % | ||||||||||||
31-Dec-13 | Fair Value | Valuation | Unobservable | Range | (Weighted | ||||||||||||||||
Technique(s) | Input(s) | Average) | |||||||||||||||||||
Impaired loans: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Nonowner-occupied | $ | 1,973 | Sales approach | Adjustment to comparables | 5% | to | 10 | % | 8 | % | |||||||||||
Commercial and industrial | 2,863 | Sales approach | Adjustment to comparables | 0% | to | 20 | % | 16 | % | ||||||||||||
Other real estate owned: | |||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||
Construction | 1,058 | Sales approach | Adjustment to comparables | 5% | to | 35 | % | 19 | % | ||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at December 31, 2014 Using: | ||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Value | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 30,977 | $ | 30,977 | $ | ---- | $ | ---- | $ | 30,977 | |||||||||||
Interest-bearing deposits with banks | 980 | ---- | 980 | ---- | 980 | ||||||||||||||||
Securities available for sale | 85,236 | ---- | 85,236 | ---- | 85,236 | ||||||||||||||||
Securities held to maturity | 22,820 | ---- | 12,144 | 11,426 | 23,570 | ||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank stock | 6,576 | N/A | N/A | N/A | N/A | ||||||||||||||||
Loans, net | 586,434 | ---- | ---- | 591,594 | 591,594 | ||||||||||||||||
Accrued interest receivable | 1,806 | ---- | 230 | 1,576 | 1,806 | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits | 646,830 | 161,784 | 485,503 | ---- | 647,287 | ||||||||||||||||
Other borrowed funds | 24,972 | ---- | 24,555 | ---- | 24,555 | ||||||||||||||||
Subordinated debentures | 8,500 | ---- | 4,979 | ---- | 4,979 | ||||||||||||||||
Accrued interest payable | 394 | 4 | 390 | ---- | 394 | ||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Value | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 28,344 | $ | 28,344 | $ | ---- | $ | ---- | $ | 28,344 | |||||||||||
Securities available for sale | 84,068 | ---- | 84,068 | ---- | 84,068 | ||||||||||||||||
Securities held to maturity | 22,826 | ---- | 11,502 | 11,482 | 22,984 | ||||||||||||||||
Federal Home Loan Bank and Federal Reserve Bank stock | 7,776 | N/A | N/A | N/A | N/A | ||||||||||||||||
Loans, net | 560,164 | ---- | ---- | 564,589 | 564,589 | ||||||||||||||||
Accrued interest receivable | 1,901 | ---- | 241 | 1,660 | 1,901 | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Deposits | 628,877 | 148,847 | 479,962 | ---- | 628,809 | ||||||||||||||||
Other borrowed funds | 18,748 | ---- | 17,453 | ---- | 17,453 | ||||||||||||||||
Subordinated debentures | 8,500 | ---- | 4,896 | ---- | 4,896 | ||||||||||||||||
Accrued interest payable | 792 | 3 | 789 | ---- | 792 |
Note_14_Regulatory_Matters_Tab
Note 14 - Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Disclosure Text Block [Abstract] | |||||||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual | Minimum Required | Minimum Required | ||||||||||||||||||||||
For Capital | To Be Well | ||||||||||||||||||||||||
Adequacy Purposes | Capitalized Under | ||||||||||||||||||||||||
Prompt Corrective | |||||||||||||||||||||||||
Action Regulations | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
2014 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | $ | 99,607 | 17.4 | % | $ | 45,765 | 8 | % | $ | 57,206 | N/A | ||||||||||||||
Bank | 87,670 | 15.6 | 44,935 | 8 | 56,169 | 10 | % | ||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | 92,442 | 16.2 | 22,883 | 4 | 34,324 | N/A | |||||||||||||||||||
Bank | 80,637 | 14.4 | 22,468 | 4 | 33,701 | 6 | |||||||||||||||||||
Tier 1 capital (to average assets) | |||||||||||||||||||||||||
Consolidated | 92,442 | 11.8 | 31,306 | 4 | 39,133 | N/A | |||||||||||||||||||
Bank | 80,637 | 10.5 | 30,702 | 4 | 38,377 | 5 | |||||||||||||||||||
2013 | |||||||||||||||||||||||||
Total capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | $ | 93,504 | 16.8 | % | $ | 44,565 | 8 | % | $ | 55,706 | N/A | ||||||||||||||
Bank | 83,057 | 15.2 | 43,731 | 8 | 54,664 | 10 | % | ||||||||||||||||||
Tier 1 capital (to risk weighted assets) | |||||||||||||||||||||||||
Consolidated | 87,349 | 15.7 | 22,283 | 4 | 33,424 | N/A | |||||||||||||||||||
Bank | 77,230 | 14.1 | 21,866 | 4 | 32,798 | 6 | |||||||||||||||||||
Tier 1 capital (to average assets) | |||||||||||||||||||||||||
Consolidated | 87,349 | 11.7 | 29,918 | 4 | 37,397 | N/A | |||||||||||||||||||
Bank | 77,230 | 10.5 | 29,410 | 4 | 36,762 | 5 |
Note_15_Parent_Company_Only_Co1
Note 15 - Parent Company Only Condensed Financial Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||
Condensed Balance Sheet [Table Text Block] | Years ended December 31: | ||||||||||||
Assets | 2014 | 2013 | |||||||||||
Cash and cash equivalents | $ | 2,875 | $ | 2,436 | |||||||||
Investment in subsidiaries | 91,991 | 86,644 | |||||||||||
Notes receivable - subsidiaries | 3,782 | 3,520 | |||||||||||
Other assets | 47 | 370 | |||||||||||
Total assets | $ | 98,695 | $ | 92,970 | |||||||||
Liabilities | |||||||||||||
Notes payable | $ | 3,791 | $ | 3,529 | |||||||||
Subordinated debentures | 8,500 | 8,500 | |||||||||||
Other liabilities | 188 | 522 | |||||||||||
Total liabilities | $ | 12,479 | $ | 12,551 | |||||||||
Shareholders’ Equity | |||||||||||||
Total shareholders’ equity | 86,216 | 80,419 | |||||||||||
Total liabilities and shareholders’ equity | $ | 98,695 | $ | 92,970 | |||||||||
Condensed Income Statement [Table Text Block] | Years ended December 31: | ||||||||||||
Income: | 2014 | 2013 | 2012 | ||||||||||
Interest on notes | $ | 84 | $ | 85 | $ | 114 | |||||||
Other operating income | 34 | 68 | 84 | ||||||||||
Dividends from subsidiaries | 3,500 | 8,500 | 4,500 | ||||||||||
Gain on sale of ProAlliance Corporation | 810 | ---- | ---- | ||||||||||
Expenses: | |||||||||||||
Interest on notes | 84 | 86 | 114 | ||||||||||
Interest on subordinated debentures | 165 | 265 | 789 | ||||||||||
Operating expenses | 384 | 456 | 364 | ||||||||||
Income before income taxes and equity in undistributed earnings of subsidiaries | 3,795 | 7,846 | 3,431 | ||||||||||
Income tax benefit | (108 | ) | 214 | 355 | |||||||||
Equity in undistributed earnings of subsidiaries | 4,386 | 52 | 3,266 | ||||||||||
Net Income | $ | 8,073 | $ | 8,112 | $ | 7,052 | |||||||
Condensed Cash Flow Statement [Table Text Block] | Years ended December 31: | ||||||||||||
Cash flows from operating activities: | 2014 | 2013 | 2012 | ||||||||||
Net Income | $ | 8,073 | $ | 8,112 | $ | 7,052 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||
Gain on sale of ProAlliance Corporation | (810 | ) | ---- | ---- | |||||||||
Equity in undistributed earnings of subsidiaries | (4,386 | ) | (52 | ) | (3,266 | ) | |||||||
Common stock issued to ESOP | 351 | 640 | 617 | ||||||||||
Change in other assets | 323 | (60 | ) | 96 | |||||||||
Change in other liabilities | (334 | ) | (15 | ) | (21 | ) | |||||||
Net cash provided by operating activities | 3,217 | 8,625 | 4,478 | ||||||||||
Cash flows from investing activities: | |||||||||||||
Proceeds from sale of ProAlliance Corporation | 810 | ---- | ---- | ||||||||||
Investment in OVBC Captive | (250 | ) | ---- | ---- | |||||||||
Change in notes receivable | (262 | ) | (97 | ) | 320 | ||||||||
Net cash provided by (used in) investing activities | 298 | (97 | ) | 320 | |||||||||
Cash flows from financing activities: | |||||||||||||
Change in notes payable | 262 | 3 | (222 | ) | |||||||||
Proceeds from common stock through dividend reinvestment | 103 | 170 | 55 | ||||||||||
Cash dividends paid | (3,441 | ) | (2,965 | ) | (4,393 | ) | |||||||
Repayment of subordinated debentures | ---- | (5,000 | ) | ---- | |||||||||
Net cash used in financing activities | (3,076 | ) | (7,792 | ) | (4,560 | ) | |||||||
Cash and cash equivalents: | |||||||||||||
Change in cash and cash equivalents | 439 | 736 | 238 | ||||||||||
Cash and cash equivalents at beginning of year | 2,436 | 1,700 | 1,462 | ||||||||||
Cash and cash equivalents at end of year | $ | 2,875 | $ | 2,436 | $ | 1,700 |
Note_16_Segment_Information_Ta
Note 16 - Segment Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2014 | ||||||||||||
Banking | Consumer | Total | |||||||||||
Finance | Company | ||||||||||||
Net interest income | $ | 30,172 | $ | 3,308 | $ | 33,480 | |||||||
Provision expense | 2,645 | 142 | 2,787 | ||||||||||
Noninterest income | 8,897 | 896 | 9,793 | ||||||||||
Noninterest expense | 26,806 | 2,487 | 29,293 | ||||||||||
Tax expense | 2,587 | 533 | 3,120 | ||||||||||
Net income | 7,031 | 1,042 | 8,073 | ||||||||||
Assets | 764,510 | 14,158 | 778,668 | ||||||||||
Year Ended December 31, 2013 | |||||||||||||
Banking | Consumer | Total | |||||||||||
Finance | Company | ||||||||||||
Net interest income | $ | 29,141 | $ | 3,244 | $ | 32,385 | |||||||
Provision expense | 364 | 113 | 477 | ||||||||||
Noninterest income | 7,711 | 807 | 8,518 | ||||||||||
Noninterest expense | 26,914 | 2,461 | 29,375 | ||||||||||
Tax expense | 2,440 | 499 | 2,939 | ||||||||||
Net income | 7,134 | 978 | 8,112 | ||||||||||
Assets | 732,905 | 14,463 | 747,368 | ||||||||||
Year Ended December 31, 2012 | |||||||||||||
Banking | Consumer Finance | Total Company | |||||||||||
Net interest income | $ | 29,445 | $ | 3,210 | $ | 32,655 | |||||||
Provision expense | 1,527 | 56 | 1,583 | ||||||||||
Noninterest income | 7,734 | 749 | 8,483 | ||||||||||
Noninterest expense | 27,384 | 2,357 | 29,741 | ||||||||||
Tax expense | 2,240 | 522 | 2,762 | ||||||||||
Net income | 6,028 | 1,024 | 7,052 | ||||||||||
Assets | 754,490 | 14,733 | 769,223 |
Note_17_Consolidated_Quarterly1
Note 17 - Consolidated Quarterly Financial Information (unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | Quarters Ended | ||||||||||||||||
Mar. 31 | Jun. 30 | Sept. 30 | Dec. 31 | ||||||||||||||
2014 | |||||||||||||||||
Total interest income | $ | 9,508 | $ | 8,925 | $ | 8,904 | $ | 9,018 | |||||||||
Total interest expense | 726 | 738 | 696 | 715 | |||||||||||||
Net interest income | 8,782 | 8,187 | 8,208 | 8,303 | |||||||||||||
Provision for loan losses (1) | 494 | 1,386 | (682 | ) | 1,589 | ||||||||||||
Noninterest income (2) | 4,118 | 1,912 | 2,106 | 1,657 | |||||||||||||
Noninterest expense | 7,295 | 6,997 | 7,244 | 7,757 | |||||||||||||
Net income | 3,564 | 1,344 | 2,742 | 423 | |||||||||||||
Earnings per share | $ | 0.87 | $ | 0.33 | $ | 0.67 | $ | 0.1 | |||||||||
2013 | |||||||||||||||||
Total interest income | $ | 9,480 | $ | 8,764 | $ | 8,748 | $ | 8,966 | |||||||||
Total interest expense | 1,059 | 923 | 818 | 773 | |||||||||||||
Net interest income | 8,421 | 7,841 | 7,930 | 8,193 | |||||||||||||
Provision for loan losses (3) | 31 | (189 | ) | 833 | (198 | ) | |||||||||||
Noninterest income (2) | 3,940 | 1,965 | 1,574 | 1,039 | |||||||||||||
Noninterest expense | 7,948 | 7,317 | 7,320 | 6,790 | |||||||||||||
Net income | 3,223 | 1,942 | 1,061 | 1,886 | |||||||||||||
Earnings per share | $ | 0.79 | $ | 0.48 | $ | 0.26 | $ | 0.47 | |||||||||
2012 | |||||||||||||||||
Total interest income | $ | 10,665 | $ | 9,657 | $ | 9,405 | $ | 9,274 | |||||||||
Total interest expense | 1,753 | 1,604 | 1,538 | 1,451 | |||||||||||||
Net interest income | 8,912 | 8,053 | 7,867 | 7,823 | |||||||||||||
Provision for loan losses (4) | 1,316 | 524 | 1,183 | (1,440 | ) | ||||||||||||
Noninterest income (2) | 3,479 | 1,974 | 1,674 | 1,356 | |||||||||||||
Noninterest expense | 7,332 | 7,162 | 6,957 | 8,290 | |||||||||||||
Net income | 2,622 | 1,719 | 1,107 | 1,604 | |||||||||||||
Earnings per share | $ | 0.65 | $ | 0.43 | $ | 0.27 | $ | 0.4 |
Note_1_Summary_of_Significant_2
Note 1 - Summary of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Number of Reportable Segments | 2 | |||
Minimum Loan Balance for Loans Evaluated by Risk Categories | $500,000 | |||
Period of Actual Loss History Experienced | 5 years | |||
Percentage of Loan Portfolio | 100.00% | 100.00% | ||
Due from Banks | 20,796 | |||
Repossessed Assets | 1,525,000 | 1,354,000 | ||
Servicing Asset | 484,000 | 534,000 | ||
Weighted Average Number of Shares Outstanding, Basic | 4,099,194 | 4,064,083 | 4,030,322 | |
Weighted Average Number of Shares Outstanding, Diluted | 0 | 0 | 0 | |
Restricted Cash and Cash Equivalents | 22,122,000 | 19,268,000 | ||
Unsecured [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Percentage of Loan Portfolio | 5.66% | 5.13% | ||
Equipment, Furniture and Fixtures [Member] | Minimum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Equipment, Furniture and Fixtures [Member] | Maximum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 8 years | |||
Building and Building Improvements [Member] | Minimum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 7 years | |||
Building and Building Improvements [Member] | Maximum [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 39 years | |||
Impaired Loans [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Minimum Loan Balance for Loans Evaluated by Risk Categories | $200,000 | |||
Consumer Other Financing Receivable [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Period of Actual Loss History Experienced | 3 years | |||
Commercial Portfolio Segment [Member] | ||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | ||||
Period of Actual Loss History Experienced | 5 years | 3 years |
Note_1_Summary_of_Significant_3
Note 1 - Summary of Significant Accounting Policies (Details) - Composition of Loan Portfolio | Dec. 31, 2014 | Dec. 31, 2013 |
Note 1 - Summary of Significant Accounting Policies (Details) - Composition of Loan Portfolio [Line Items] | ||
Loan portfolio | 100.00% | 100.00% |
Residential Portfolio Segment [Member] | ||
Note 1 - Summary of Significant Accounting Policies (Details) - Composition of Loan Portfolio [Line Items] | ||
Loan portfolio | 37.60% | 38.73% |
Commercial Real Estate Portfolio Segment [Member] | ||
Note 1 - Summary of Significant Accounting Policies (Details) - Composition of Loan Portfolio [Line Items] | ||
Loan portfolio | 29.86% | 32.47% |
Consumer Portfolio Segment [Member] | ||
Note 1 - Summary of Significant Accounting Policies (Details) - Composition of Loan Portfolio [Line Items] | ||
Loan portfolio | 18.42% | 18.06% |
Commercial and Industrial [Member] | ||
Note 1 - Summary of Significant Accounting Policies (Details) - Composition of Loan Portfolio [Line Items] | ||
Loan portfolio | 14.12% | 10.74% |
Note_2_Securities_Details
Note 2 - Securities (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 2 - Securities (Details) [Line Items] | |||
Available-for-sale Securities Pledged as Collateral | $68,238,000 | $62,324,000 | |
Debt Securities [Member] | |||
Note 2 - Securities (Details) [Line Items] | |||
Proceeds from Sale and Maturity of Marketable Securities | $0 | $0 | $0 |
Note_2_Securities_Details_Amor
Note 2 - Securities (Details) - Amortized Cost and Estimated Fair Value of Available-for-Sale Securities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $83,781 | $83,689 |
Gross Unrealized Gains | 1,695 | 1,261 |
Gross Unrealized Losses | -240 | -882 |
Estimated Fair Value | 85,236 | 84,068 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 9,019 | 9,028 |
Gross Unrealized Gains | 2 | 4 |
Gross Unrealized Losses | -104 | -180 |
Estimated Fair Value | 8,917 | 8,852 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 74,762 | 74,661 |
Gross Unrealized Gains | 1,693 | 1,257 |
Gross Unrealized Losses | -136 | -702 |
Estimated Fair Value | $76,319 | $75,216 |
Note_2_Securities_Details_Amor1
Note 2 - Securities (Details) - Amortized Cost and Estimated Fair Value of Held-to-Maturity Securities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $22,820 | $22,826 |
Gross Unrecognized Gains | 939 | 579 |
Gross Unrecognized Losses | -189 | -421 |
Estimated Fair Value | 23,570 | 22,984 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 22,811 | 22,814 |
Gross Unrecognized Gains | 939 | 579 |
Gross Unrecognized Losses | -189 | -421 |
Estimated Fair Value | 23,561 | 22,972 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 9 | 12 |
Estimated Fair Value | $9 | $12 |
Note_2_Securities_Details_The_
Note 2 - Securities (Details) - The Amortized Cost and Estimated Fair Value of Investment Securities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
The Amortized Cost and Estimated Fair Value of Investment Securities [Abstract] | ||
Due in one year or less | $131 | |
Due in one year or less | 131 | |
Due in one to five years | 7,459 | |
Due in one to five years | 7,874 | |
Due in one to five years | 9,019 | |
Due in one to five years | 8,917 | |
Due in five to ten years | 11,702 | |
Due in five to ten years | 12,053 | |
Due after ten years | 3,519 | |
Due after ten years | 3,503 | |
Agency mortgage-backed securities, residential | 74,762 | |
Agency mortgage-backed securities, residential | 76,319 | |
Agency mortgage-backed securities, residential | 9 | |
Agency mortgage-backed securities, residential | 9 | |
Total debt securities | 83,781 | |
Total debt securities | 85,236 | |
Total debt securities | 22,820 | 22,826 |
Total debt securities | $23,570 | $22,984 |
Note_2_Securities_Details_Secu
Note 2 - Securities (Details) - Securities Available for Sale (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 2 - Securities (Details) - Securities Available for Sale [Line Items] | ||
Less than 12 Months - Fair Value | $11,232 | $33,616 |
Less than 12 Months - Unrealized Loss | -20 | -882 |
Fair Value | 27,540 | 33,616 |
Unrealized Loss | -240 | -882 |
12 Months or More - Fair Value | 16,308 | |
12 Months or More - Unrealized Loss | -220 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 2 - Securities (Details) - Securities Available for Sale [Line Items] | ||
Less than 12 Months - Fair Value | 7,841 | |
Less than 12 Months - Unrealized Loss | -180 | |
Fair Value | 7,911 | 7,841 |
Unrealized Loss | -104 | -180 |
12 Months or More - Fair Value | 7,911 | |
12 Months or More - Unrealized Loss | -104 | |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Note 2 - Securities (Details) - Securities Available for Sale [Line Items] | ||
Less than 12 Months - Fair Value | 11,232 | 25,775 |
Less than 12 Months - Unrealized Loss | -20 | -702 |
Fair Value | 19,629 | 25,775 |
Unrealized Loss | -136 | -702 |
12 Months or More - Fair Value | 8,397 | |
12 Months or More - Unrealized Loss | ($116) |
Note_2_Securities_Details_Secu1
Note 2 - Securities (Details) - Securities Held to Maturity with Unrealized Losses (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 2 - Securities (Details) - Securities Held to Maturity with Unrealized Losses [Line Items] | ||
Less Than 12 Months - Fair Value | $1,171 | $6,743 |
Less Than 12 Months - Unrecognized Loss | -9 | -307 |
12 Months or More - Fair Value | 2,916 | 1,142 |
12 Months or More - Unrecognized Loss | -180 | -114 |
Fair Value | 4,087 | 7,885 |
Unrecognized Loss | -189 | -421 |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 2 - Securities (Details) - Securities Held to Maturity with Unrealized Losses [Line Items] | ||
Less Than 12 Months - Fair Value | 1,171 | 6,743 |
Less Than 12 Months - Unrecognized Loss | -9 | -307 |
12 Months or More - Fair Value | 2,916 | 1,142 |
12 Months or More - Unrecognized Loss | -180 | -114 |
Fair Value | 4,087 | 7,885 |
Unrecognized Loss | ($189) | ($421) |
Note_3_Loans_and_Allowance_for2
Note 3 - Loans and Allowance for Loan Losses (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 |
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Allowance for Loan and Lease Losses, Write-offs | $0 | $0 | $536 | |
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 623 | -321 | 2,169 | |
Provision for Loan and Lease Losses Increase (Decrease) | -871 | |||
Change in Troubled Debt Restructurings | 43.60% | |||
Financing Receivable, Modifications, Recorded Investment | 18,097 | 12,606 | ||
Percentage of Loan Portfolio | 100.00% | 100.00% | ||
Impaired Financing Receivable, Related Allowance | 3,412 | 2,625 | 2,107 | |
Minimum Loan Balance for Loans Evaluated by Risk Categories | 500 | |||
Short-Term Interest Only-Payments [Member] | Commercial and Industrial [Member] | ||||
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 2 | |||
Financing Receivable, Modifications, Recorded Investment | 4,073 | |||
Extended at Interest Rate Lower Than Current Market Rate [Member] | Commercial Real Estate Loans [Member] | ||||
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | |||
Financing Receivable, Modifications, Recorded Investment | 746 | |||
Non-Accrual [Member] | Commercial Real Estate Loans [Member] | ||||
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 4,013 | |||
Troubled Debt Restructurings Performing According to Modified Terms [Member] | ||||
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Percentage of Loan Portfolio | 76.00% | 98.00% | ||
Additional Impairment [Member] | Troubled Debt Restructurings [Member] | ||||
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Impaired Financing Receivable, Related Allowance | 2,998 | 1,511 | ||
Additional Impairment [Member] | Commercial Real Estate Loans [Member] | ||||
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Impaired Financing Receivable, Related Allowance | 1,340 | |||
Troubled Debt Restructurings [Member] | ||||
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Allowance for Loan and Lease Losses, Period Increase (Decrease) | 7 | |||
Increase (Decrease) in Other Loans | 5,491 | |||
Impaired Financing Receivable, Related Allowance | 7 | |||
Loans and Leases Receivable, Impaired, Commitment to Lend | 1,871 | 718 | ||
Commercial and Industrial [Member] | ||||
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 3 | |||
Financing Receivable, Modifications, Recorded Investment | $4,819 | |||
Unsecured [Member] | ||||
Note 3 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Percentage of Loan Portfolio | 5.66% | 5.13% |
Note_3_Loans_and_Allowance_for3
Note 3 - Loans and Allowance for Loan Losses (Details) - Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $594,768 | $566,319 |
Less: Allowance for loan losses | 8,334 | 6,155 |
Loans, net | 586,434 | 560,164 |
Home Equity Line of Credit [Member] | Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 18,291 | 17,748 |
Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 78,848 | 83,988 |
Nonowner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 71,229 | 74,047 |
Construction Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 27,535 | 25,836 |
Automobile Loan [Member] | Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 42,849 | 38,811 |
Residential Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 223,628 | 219,365 |
Commercial Real Estate Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 177,612 | 183,871 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 83,998 | 60,803 |
Consumer Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | 109,530 | 102,280 |
Consumer Other Financing Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $48,390 | $45,721 |
Note_3_Loans_and_Allowance_for4
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses Activity, by Portfolio Segment (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses Activity, by Portfolio Segment [Line Items] | |||
Beginning balance | $6,155 | $6,905 | $7,344 |
Provision for Loan Losses | 2,787 | 477 | 1,583 |
Loans charged off | -1,979 | -2,700 | -5,136 |
Recoveries | 1,371 | 1,473 | 3,114 |
Total ending allowance balance | 8,334 | 6,155 | 6,905 |
Residential Portfolio Segment [Member] | |||
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses Activity, by Portfolio Segment [Line Items] | |||
Beginning balance | 1,169 | 1,329 | 1,860 |
Provision for Loan Losses | 458 | 377 | 395 |
Loans charged off | -487 | -819 | -1,066 |
Recoveries | 286 | 282 | 140 |
Total ending allowance balance | 1,426 | 1,169 | 1,329 |
Commercial Real Estate Portfolio Segment [Member] | |||
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses Activity, by Portfolio Segment [Line Items] | |||
Beginning balance | 2,914 | 3,946 | 3,493 |
Provision for Loan Losses | 1,408 | -1,375 | 2,788 |
Loans charged off | -235 | -2 | -2,378 |
Recoveries | 108 | 345 | 43 |
Total ending allowance balance | 4,195 | 2,914 | 3,946 |
Commercial and Industrial [Member] | |||
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses Activity, by Portfolio Segment [Line Items] | |||
Beginning balance | 1,279 | 783 | 636 |
Provision for Loan Losses | -28 | 1,031 | -1,802 |
Loans charged off | -41 | -600 | -70 |
Recoveries | 392 | 65 | 2,019 |
Total ending allowance balance | 1,602 | 1,279 | 783 |
Consumer Portfolio Segment [Member] | |||
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses Activity, by Portfolio Segment [Line Items] | |||
Beginning balance | 793 | 847 | 1,355 |
Provision for Loan Losses | 949 | 444 | 202 |
Loans charged off | -1,216 | -1,279 | -1,622 |
Recoveries | 585 | 781 | 912 |
Total ending allowance balance | $1,111 | $793 | $847 |
Note_3_Loans_and_Allowance_for5
Note 3 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses and the Recorded Investment of Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | $3,412 | $2,625 | ||
Collectively evaluated for impairment | 4,922 | 3,530 | ||
Total ending allowance balance | 8,334 | 6,155 | 6,905 | 7,344 |
Loans: | ||||
Loans individually evaluated for impairment | 20,169 | 14,696 | ||
Loans collectively evaluated for impairment | 574,599 | 551,623 | ||
Total ending loans balance | 594,768 | 566,319 | ||
Residential Portfolio Segment [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 93 | |||
Collectively evaluated for impairment | 1,426 | 1,076 | ||
Total ending allowance balance | 1,426 | 1,169 | 1,329 | 1,860 |
Loans: | ||||
Loans individually evaluated for impairment | 1,415 | 1,019 | ||
Loans collectively evaluated for impairment | 222,213 | 218,346 | ||
Total ending loans balance | 223,628 | 219,365 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 2,506 | 1,661 | ||
Collectively evaluated for impairment | 1,689 | 1,253 | ||
Total ending allowance balance | 4,195 | 2,914 | 3,946 | 3,493 |
Loans: | ||||
Loans individually evaluated for impairment | 11,711 | 10,801 | ||
Loans collectively evaluated for impairment | 165,901 | 173,070 | ||
Total ending loans balance | 177,612 | 183,871 | ||
Commercial and Industrial [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 900 | 864 | ||
Collectively evaluated for impairment | 702 | 415 | ||
Total ending allowance balance | 1,602 | 1,279 | 783 | 636 |
Loans: | ||||
Loans individually evaluated for impairment | 6,824 | 2,658 | ||
Loans collectively evaluated for impairment | 77,174 | 58,145 | ||
Total ending loans balance | 83,998 | 60,803 | ||
Consumer Portfolio Segment [Member] | ||||
Ending allowance balance attributable to loans: | ||||
Individually evaluated for impairment | 6 | 7 | ||
Collectively evaluated for impairment | 1,105 | 786 | ||
Total ending allowance balance | 1,111 | 793 | 847 | 1,355 |
Loans: | ||||
Loans individually evaluated for impairment | 219 | 218 | ||
Loans collectively evaluated for impairment | 109,311 | 102,062 | ||
Total ending loans balance | $109,530 | $102,280 |
Note_3_Loans_and_Allowance_for6
Note 3 - Loans and Allowance for Loan Losses (Details) - Loans Individually Evaluated for Impairment (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 3 - Loans and Allowance for Loan Losses (Details) - Loans Individually Evaluated for Impairment [Line Items] | |||
Impaired Financing Receive with an Allowance Recorded - Allowance for Loan Losses allocated | $3,412 | $2,625 | $2,107 |
Total - Unpaid Principal Balance | 21,949 | 16,255 | 19,277 |
Total - Recorded Investment | 20,169 | 14,696 | 17,401 |
Total - Allowance for Loan Losses allocated | 3,412 | 2,625 | 2,107 |
Total - Average Impaired Loans | 17,029 | 13,693 | 11,717 |
Total - Interest Income Recognized | 954 | 784 | 864 |
Total - Cash Basis Interest Recognized | 954 | 784 | 864 |
Residential Real Estate Loans [Member] | |||
Note 3 - Loans and Allowance for Loan Losses (Details) - Loans Individually Evaluated for Impairment [Line Items] | |||
Impaired Financing Receive with an Allowance Recorded - Unpaid Principal Balance | 253 | ||
Impaired Financing Receive with an Allowance Recorded - Recorded Investment | 253 | ||
Impaired Financing Receive with an Allowance Recorded - Allowance for Loan Losses allocated | 93 | ||
Impaired Financing Receive with an Allowance Recorded - Average Impaired Loans | 101 | ||
Impaired Financing Receive with an Allowance Recorded - Interest Income Recognized | 6 | 12 | |
Impaired Financing Receive with an Allowance Recorded - Cash Basis Interest Recognized | 6 | 12 | |
Impaired Financing Receive with no Allowance Recorded - Unpaid Principal Balance | 1,415 | 766 | 619 |
Impaired Financing Receive with no Allowance Recorded - Recorded Investment | 1,415 | 766 | 407 |
Impaired Financing Receive with no Allowance Recorded - Average Impaired Loans | 882 | 539 | 493 |
Impaired Financing Receive with no Allowance Recorded - Interest Income Recognized | 58 | 47 | |
Impaired Financing Receive with no Allowance Recorded - Cash Basis Interest Recognized | 58 | 47 | |
Total - Allowance for Loan Losses allocated | 93 | ||
Commercial Real Estate Owner Occupied [Member] | |||
Note 3 - Loans and Allowance for Loan Losses (Details) - Loans Individually Evaluated for Impairment [Line Items] | |||
Impaired Financing Receive with an Allowance Recorded - Unpaid Principal Balance | 1,177 | 290 | |
Impaired Financing Receive with an Allowance Recorded - Recorded Investment | 1,177 | 290 | |
Impaired Financing Receive with an Allowance Recorded - Allowance for Loan Losses allocated | 414 | 157 | |
Impaired Financing Receive with an Allowance Recorded - Average Impaired Loans | 471 | 116 | |
Impaired Financing Receive with an Allowance Recorded - Interest Income Recognized | 32 | ||
Impaired Financing Receive with an Allowance Recorded - Cash Basis Interest Recognized | 32 | ||
Impaired Financing Receive with no Allowance Recorded - Unpaid Principal Balance | 3,125 | 2,188 | 6,198 |
Impaired Financing Receive with no Allowance Recorded - Recorded Investment | 2,578 | 1,641 | 6,198 |
Impaired Financing Receive with no Allowance Recorded - Average Impaired Loans | 2,135 | 1,469 | 4,998 |
Impaired Financing Receive with no Allowance Recorded - Interest Income Recognized | 113 | 73 | 354 |
Impaired Financing Receive with no Allowance Recorded - Cash Basis Interest Recognized | 113 | 73 | 354 |
Total - Allowance for Loan Losses allocated | 414 | 157 | |
Commercial Real Estate Nonowner Occupied [Member] | |||
Note 3 - Loans and Allowance for Loan Losses (Details) - Loans Individually Evaluated for Impairment [Line Items] | |||
Impaired Financing Receive with an Allowance Recorded - Unpaid Principal Balance | 7,656 | 3,776 | 2,399 |
Impaired Financing Receive with an Allowance Recorded - Recorded Investment | 7,656 | 3,776 | 2,399 |
Impaired Financing Receive with an Allowance Recorded - Allowance for Loan Losses allocated | 2,092 | 1,504 | 2,107 |
Impaired Financing Receive with an Allowance Recorded - Average Impaired Loans | 8,303 | 3,846 | 1,552 |
Impaired Financing Receive with an Allowance Recorded - Interest Income Recognized | 398 | 187 | 61 |
Impaired Financing Receive with an Allowance Recorded - Cash Basis Interest Recognized | 398 | 187 | 61 |
Impaired Financing Receive with no Allowance Recorded - Unpaid Principal Balance | 1,298 | 6,106 | 9,841 |
Impaired Financing Receive with no Allowance Recorded - Recorded Investment | 300 | 5,094 | 8,177 |
Impaired Financing Receive with no Allowance Recorded - Average Impaired Loans | 300 | 5,699 | 4,498 |
Impaired Financing Receive with no Allowance Recorded - Interest Income Recognized | 50 | 311 | 440 |
Impaired Financing Receive with no Allowance Recorded - Cash Basis Interest Recognized | 50 | 311 | 440 |
Total - Allowance for Loan Losses allocated | 2,092 | 1,504 | 2,107 |
Commercial and Industrial [Member] | |||
Note 3 - Loans and Allowance for Loan Losses (Details) - Loans Individually Evaluated for Impairment [Line Items] | |||
Impaired Financing Receive with an Allowance Recorded - Unpaid Principal Balance | 2,356 | 2,658 | |
Impaired Financing Receive with an Allowance Recorded - Recorded Investment | 2,356 | 2,658 | |
Impaired Financing Receive with an Allowance Recorded - Allowance for Loan Losses allocated | 900 | 864 | |
Impaired Financing Receive with an Allowance Recorded - Average Impaired Loans | 2,441 | 1,836 | |
Impaired Financing Receive with an Allowance Recorded - Interest Income Recognized | 110 | 142 | |
Impaired Financing Receive with an Allowance Recorded - Cash Basis Interest Recognized | 110 | 142 | |
Impaired Financing Receive with no Allowance Recorded - Unpaid Principal Balance | 4,703 | ||
Impaired Financing Receive with no Allowance Recorded - Recorded Investment | 4,468 | ||
Impaired Financing Receive with no Allowance Recorded - Average Impaired Loans | 2,278 | ||
Impaired Financing Receive with no Allowance Recorded - Interest Income Recognized | 180 | ||
Impaired Financing Receive with no Allowance Recorded - Cash Basis Interest Recognized | 180 | ||
Total - Allowance for Loan Losses allocated | 900 | 864 | |
Home Equity Loans [Member] | |||
Note 3 - Loans and Allowance for Loan Losses (Details) - Loans Individually Evaluated for Impairment [Line Items] | |||
Impaired Financing Receive with an Allowance Recorded - Unpaid Principal Balance | 219 | 218 | |
Impaired Financing Receive with an Allowance Recorded - Recorded Investment | 219 | 218 | |
Impaired Financing Receive with an Allowance Recorded - Allowance for Loan Losses allocated | 6 | 7 | |
Impaired Financing Receive with an Allowance Recorded - Average Impaired Loans | 219 | 87 | |
Impaired Financing Receive with an Allowance Recorded - Interest Income Recognized | 7 | 9 | |
Impaired Financing Receive with an Allowance Recorded - Cash Basis Interest Recognized | 7 | 9 | |
Impaired Financing Receive with no Allowance Recorded - Unpaid Principal Balance | 220 | ||
Impaired Financing Receive with no Allowance Recorded - Recorded Investment | 220 | ||
Impaired Financing Receive with no Allowance Recorded - Average Impaired Loans | 176 | ||
Impaired Financing Receive with no Allowance Recorded - Interest Income Recognized | 3 | 9 | |
Impaired Financing Receive with no Allowance Recorded - Cash Basis Interest Recognized | 3 | 9 | |
Total - Allowance for Loan Losses allocated | $6 | $7 |
Note_3_Loans_and_Allowance_for7
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Nonaccrual Loans and Loans Past Due 90 days (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Nonaccrual Loans and Loans Past Due 90 days [Line Items] | ||
Loans past due 90 days and still accruing | $73 | $78 |
Nonaccrual | 9,549 | 3,580 |
Residential Real Estate Loans [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Nonaccrual Loans and Loans Past Due 90 days [Line Items] | ||
Loans past due 90 days and still accruing | 72 | |
Nonaccrual | 3,768 | 2,662 |
Commercial Real Estate Owner Occupied [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Nonaccrual Loans and Loans Past Due 90 days [Line Items] | ||
Nonaccrual | 1,484 | 799 |
Commercial Real Estate Nonowner Occupied [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Nonaccrual Loans and Loans Past Due 90 days [Line Items] | ||
Nonaccrual | 4,013 | 52 |
Commercial and Industrial [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Nonaccrual Loans and Loans Past Due 90 days [Line Items] | ||
Nonaccrual | 95 | 21 |
Automobile Loans [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Nonaccrual Loans and Loans Past Due 90 days [Line Items] | ||
Loans past due 90 days and still accruing | 15 | 5 |
Nonaccrual | 18 | 8 |
Home Equity Loans [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Nonaccrual Loans and Loans Past Due 90 days [Line Items] | ||
Nonaccrual | 103 | 38 |
Other Consumer Loans [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Nonaccrual Loans and Loans Past Due 90 days [Line Items] | ||
Loans past due 90 days and still accruing | 58 | 1 |
Nonaccrual | $68 |
Note_3_Loans_and_Allowance_for8
Note 3 - Loans and Allowance for Loan Losses (Details) - Aging of the Recorded Investment of Past Due Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | $5,614 | $5,670 |
60-89 Days Past Due | 853 | 1,634 |
90 or More Days Past Due | 5,197 | 3,428 |
Total Past Due | 11,664 | 10,732 |
Loans Not Past Due | 583,104 | 555,587 |
Total | 594,768 | 566,319 |
Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 3,337 | 3,922 |
60-89 Days Past Due | 612 | 1,324 |
90 or More Days Past Due | 3,489 | 2,620 |
Total Past Due | 7,438 | 7,866 |
Loans Not Past Due | 216,190 | 211,499 |
Total | 223,628 | 219,365 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 74 | 206 |
60-89 Days Past Due | 62 | 100 |
90 or More Days Past Due | 1,422 | 683 |
Total Past Due | 1,558 | 989 |
Loans Not Past Due | 77,290 | 82,999 |
Total | 78,848 | 83,988 |
Commercial Real Estate Nonowner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 or More Days Past Due | 52 | |
Total Past Due | 52 | |
Loans Not Past Due | 71,229 | 73,995 |
Total | 71,229 | 74,047 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 932 | 60 |
Total Past Due | 932 | 60 |
Loans Not Past Due | 26,603 | 25,776 |
Total | 27,535 | 25,836 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 193 | |
60-89 Days Past Due | 10 | 49 |
90 or More Days Past Due | 24 | 21 |
Total Past Due | 34 | 263 |
Loans Not Past Due | 83,964 | 60,540 |
Total | 83,998 | 60,803 |
Automobile Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 616 | 638 |
60-89 Days Past Due | 149 | 123 |
90 or More Days Past Due | 33 | 13 |
Total Past Due | 798 | 774 |
Loans Not Past Due | 42,051 | 38,037 |
Total | 42,849 | 38,811 |
Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90 or More Days Past Due | 103 | 38 |
Total Past Due | 103 | 38 |
Loans Not Past Due | 18,188 | 17,710 |
Total | 18,291 | 17,748 |
Other Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 655 | 651 |
60-89 Days Past Due | 20 | 38 |
90 or More Days Past Due | 126 | 1 |
Total Past Due | 801 | 690 |
Loans Not Past Due | 47,589 | 45,031 |
Total | $48,390 | $45,721 |
Note_3_Loans_and_Allowance_for9
Note 3 - Loans and Allowance for Loan Losses (Details) - TDR Loan Modifications (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | $18,097 | $12,606 |
Interest Only Payments [Member] | Residential Portfolio Segment [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 520 | 527 |
Interest Only Payments [Member] | Residential Portfolio Segment [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 520 | 527 |
Interest Only Payments [Member] | Commercial Real Estate Owner Occupied [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 457 | |
Interest Only Payments [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 457 | |
Interest Only Payments [Member] | Commercial Real Estate Nonowner Occupied [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 3,535 | 8,450 |
Interest Only Payments [Member] | Commercial Real Estate Nonowner Occupied [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 4,013 | |
Interest Only Payments [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 7,548 | 8,450 |
Interest Only Payments [Member] | Commercial and Industrial [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 6,429 | 1,811 |
Interest Only Payments [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 6,429 | 1,811 |
Rate Reduction [Member] | Commercial Real Estate Owner Occupied [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 244 | 259 |
Rate Reduction [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 244 | 259 |
Rate Reduction [Member] | Commercial Real Estate Nonowner Occupied [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 408 | 420 |
Rate Reduction [Member] | Commercial Real Estate Nonowner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 408 | 420 |
Reduction of Principal and Interest Payments [Member] | Commercial Real Estate Owner Occupied [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 627 | 650 |
Reduction of Principal and Interest Payments [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 627 | 650 |
Maturity Extension at Lower Stated Rate Than Market Rate [Member] | Commercial Real Estate Owner Occupied [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 1,046 | 271 |
Maturity Extension at Lower Stated Rate Than Market Rate [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 1,046 | 271 |
Maturity Extension at Lower Stated Rate Than Market Rate [Member] | Home Equity Loans [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 219 | 218 |
Maturity Extension at Lower Stated Rate Than Market Rate [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 219 | 218 |
Credit Extension at Lower State Rate than Market Rate [Member] | Commercial Real Estate Owner Occupied [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 204 | |
Credit Extension at Lower State Rate than Market Rate [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 204 | |
Credit Extension at Lower State Rate than Market Rate [Member] | Commercial and Industrial [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 395 | |
Credit Extension at Lower State Rate than Market Rate [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 395 | |
Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | 13,840 | 12,347 |
Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled Debt Restructurings | $4,257 | $259 |
Recovered_Sheet1
Note 3 - Loans and Allowance for Loan Losses (Details) - TDRs Pre-Modification and Post-Modification (Performing Financing Receivable [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Note 3 - Loans and Allowance for Loan Losses (Details) - TDRs Pre-Modification and Post-Modification [Line Items] | ||
Pre-Modification Recorded Investment | $5,875 | $2,556 |
Post-Modification Recorded Investment | 5,875 | 2,556 |
Interest Only Payments [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - TDRs Pre-Modification and Post-Modification [Line Items] | ||
Pre-Modification Recorded Investment | 457 | |
Post-Modification Recorded Investment | 457 | |
Interest Only Payments [Member] | Commercial and Industrial [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - TDRs Pre-Modification and Post-Modification [Line Items] | ||
Pre-Modification Recorded Investment | 4,073 | 1,811 |
Post-Modification Recorded Investment | 4,073 | 1,811 |
Interest Only Payments [Member] | Residential Portfolio Segment [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - TDRs Pre-Modification and Post-Modification [Line Items] | ||
Pre-Modification Recorded Investment | 527 | |
Post-Modification Recorded Investment | 527 | |
Maturity Extension at Lower Stated Rate Than Market Rate [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - TDRs Pre-Modification and Post-Modification [Line Items] | ||
Pre-Modification Recorded Investment | 746 | |
Post-Modification Recorded Investment | 746 | |
Maturity Extension at Lower Stated Rate Than Market Rate [Member] | Home Equity Loans [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - TDRs Pre-Modification and Post-Modification [Line Items] | ||
Pre-Modification Recorded Investment | 218 | |
Post-Modification Recorded Investment | 218 | |
Credit Extension at Lower State Rate than Market Rate [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - TDRs Pre-Modification and Post-Modification [Line Items] | ||
Pre-Modification Recorded Investment | 204 | |
Post-Modification Recorded Investment | 204 | |
Credit Extension at Lower State Rate than Market Rate [Member] | Commercial and Industrial [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - TDRs Pre-Modification and Post-Modification [Line Items] | ||
Pre-Modification Recorded Investment | 395 | |
Post-Modification Recorded Investment | $395 |
Recovered_Sheet2
Note 3 - Loans and Allowance for Loan Losses (Details) - Risk Category of Commercial Loans by Class of Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Commercial real estate: | ||
Commercial Loans | $261,610 | $244,674 |
Owner Occupied [Member] | Pass [Member] | ||
Commercial real estate: | ||
Commercial Loans | 72,232 | 76,677 |
Owner Occupied [Member] | Criticized [Member] | ||
Commercial real estate: | ||
Commercial Loans | 2,102 | 5,310 |
Owner Occupied [Member] | Classified [Member] | ||
Commercial real estate: | ||
Commercial Loans | 4,514 | 2,001 |
Owner Occupied [Member] | ||
Commercial real estate: | ||
Commercial Loans | 78,848 | 83,988 |
Nonowner Occupied [Member] | Pass [Member] | ||
Commercial real estate: | ||
Commercial Loans | 60,491 | 62,301 |
Nonowner Occupied [Member] | Criticized [Member] | ||
Commercial real estate: | ||
Commercial Loans | 2,127 | 7,107 |
Nonowner Occupied [Member] | Classified [Member] | ||
Commercial real estate: | ||
Commercial Loans | 8,611 | 4,639 |
Nonowner Occupied [Member] | ||
Commercial real estate: | ||
Commercial Loans | 71,229 | 74,047 |
Construction [Member] | Pass [Member] | ||
Commercial real estate: | ||
Commercial Loans | 27,364 | 24,545 |
Construction [Member] | Classified [Member] | ||
Commercial real estate: | ||
Commercial Loans | 171 | 1,291 |
Construction [Member] | ||
Commercial real estate: | ||
Commercial Loans | 27,535 | 25,836 |
Commercial and Industrial [Member] | Pass [Member] | ||
Commercial real estate: | ||
Commercial Loans | 76,395 | 53,416 |
Commercial and Industrial [Member] | Criticized [Member] | ||
Commercial real estate: | ||
Commercial Loans | 495 | 4,081 |
Commercial and Industrial [Member] | Classified [Member] | ||
Commercial real estate: | ||
Commercial Loans | 7,108 | 3,306 |
Commercial and Industrial [Member] | ||
Commercial real estate: | ||
Commercial Loans | 83,998 | 60,803 |
Pass [Member] | ||
Commercial real estate: | ||
Commercial Loans | 236,482 | 216,939 |
Criticized [Member] | ||
Commercial real estate: | ||
Commercial Loans | 4,724 | 16,498 |
Classified [Member] | ||
Commercial real estate: | ||
Commercial Loans | $20,404 | $11,237 |
Recovered_Sheet3
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Automobile Loans [Member] | Performing Financing Receivable [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | $42,816 | $38,798 |
Automobile Loans [Member] | Nonperforming Financing Receivable [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 33 | 13 |
Automobile Loans [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 42,849 | 38,811 |
Home Equity Loans [Member] | Performing Financing Receivable [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 18,188 | 17,710 |
Home Equity Loans [Member] | Nonperforming Financing Receivable [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 103 | 38 |
Home Equity Loans [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 18,291 | 17,748 |
Other Consumer Loans [Member] | Performing Financing Receivable [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 48,264 | 45,720 |
Other Consumer Loans [Member] | Nonperforming Financing Receivable [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 126 | 1 |
Other Consumer Loans [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 48,390 | 45,721 |
Residential Real Estate Loans [Member] | Performing Financing Receivable [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 219,860 | 216,631 |
Residential Real Estate Loans [Member] | Nonperforming Financing Receivable [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 3,768 | 2,734 |
Residential Real Estate Loans [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 223,628 | 219,365 |
Consumer Loans [Member] | Performing Financing Receivable [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 329,128 | 318,859 |
Consumer Loans [Member] | Nonperforming Financing Receivable [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | 4,030 | 2,786 |
Consumer Loans [Member] | ||
Note 3 - Loans and Allowance for Loan Losses (Details) - Recorded Investment of Residential and Consumer Loans [Line Items] | ||
Consumer Loans | $333,158 | $321,645 |
Note_4_Premises_and_Equipment_1
Note 4 - Premises and Equipment (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Abstract] | |||
Operating Leases, Rent Expense, Net | $515 | $529 | $492 |
Note_4_Premises_and_Equipment_2
Note 4 - Premises and Equipment (Details) - Premises and Equipment (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Premises and Equipment [Abstract] | ||
Land | $2,045 | $1,900 |
Buildings | 11,083 | 10,342 |
Leasehold improvements | 2,767 | 2,911 |
Furniture and equipment | 15,146 | 15,060 |
31,041 | 30,213 | |
Less accumulated depreciation | 21,846 | 21,208 |
Total premises and equipment | $9,195 | $9,005 |
Note_4_Premises_and_Equipment_3
Note 4 - Premises and Equipment (Details) - Future Minimum Lease Payments (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Future Minimum Lease Payments [Abstract] | |
2015 | $456 |
2016 | 336 |
2017 | 234 |
2018 | 103 |
2019 | 3 |
$1,132 |
Note_5_Deposits_Details
Note 5 - Deposits (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Disclosure Text Block [Abstract] | ||
Interest-bearing Domestic Deposit, Brokered | $28,976 | $15,435 |
Note_5_Deposits_Details_Intere
Note 5 - Deposits (Details) - Interest-Bearing Deposits (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Interest-Bearing Deposits [Abstract] | ||
NOW accounts | $112,571 | $106,342 |
Savings and Money Market | 198,788 | 200,237 |
In denominations of $250,000 or less | 164,219 | 163,057 |
In denominations of more than $250,000 | 9,458 | 9,418 |
Total time deposits | 173,677 | 172,475 |
Total interest-bearing deposits | $485,036 | $479,054 |
Note_5_Deposits_Details_Time_D
Note 5 - Deposits (Details) - Time Deposits (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Time Deposits [Abstract] | ||
2015 | $94,645 | |
2016 | 40,212 | |
2017 | 16,253 | |
2018 | 12,407 | |
2019 | 9,614 | |
Thereafter | 546 | |
Total | $173,677 | $172,475 |
Note_6_Interest_Rate_Swaps_Det
Note 6 - Interest Rate Swaps (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 6 - Interest Rate Swaps (Details) [Line Items] | ||
Deposit Assets | $350 | $350 |
Interest Rate Swap [Member] | ||
Note 6 - Interest Rate Swaps (Details) [Line Items] | ||
Derivative Asset, Notional Amount | 11,684 | 12,598 |
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net | $38 | $150 |
Note_7_Other_Borrowed_Funds_De
Note 7 - Other Borrowed Funds (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Note 7 - Other Borrowed Funds (Details) [Line Items] | ||
Federal Home Loan Bank, Advances, Maturities Summary, Fixed Rate | $21,181 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate, Range from | 1.34% | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate, Range to | 3.31% | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 2.14% | 2.23% |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 176,411 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 125,729 | |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Next Twelve Months | 75,000 | |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 1.15% | |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | 1.50% | |
Debt, Weighted Average Interest Rate | 2.34% | 2.44% |
Letters of Credit Outstanding, Amount | 4,110 | 6,257 |
Residential Mortgage [Member] | ||
Note 7 - Other Borrowed Funds (Details) [Line Items] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 213,371 | |
Commercial Loan [Member] | ||
Note 7 - Other Borrowed Funds (Details) [Line Items] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 79,229 | |
FHLB Stock [Member] | ||
Note 7 - Other Borrowed Funds (Details) [Line Items] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 5,081 | |
FHLB Line of Credit [Member] | ||
Note 7 - Other Borrowed Funds (Details) [Line Items] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 75,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 75,000 | |
Letters of Credit Outstanding, Amount | $29,500 | $25,000 |
Note_7_Other_Borrowed_Funds_De1
Note 7 - Other Borrowed Funds (Details) - Other Borrowed Funds (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Other borrowed funds | $24,972 | $18,748 |
Federal Home Loan Bank Advances [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Other borrowed funds | 21,181 | 15,219 |
Promissory Notes [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Other borrowed funds | $3,791 | $3,529 |
Note_7_Other_Borrowed_Funds_De2
Note 7 - Other Borrowed Funds (Details) - Scheduled Principal Payments (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 7 - Other Borrowed Funds (Details) - Scheduled Principal Payments [Line Items] | ||
2015 | $3,817 | |
2016 | 3,341 | |
2017 | 4,534 | |
2018 | 1,484 | |
2019 | 1,443 | |
Thereafter | 10,353 | |
24,972 | 18,748 | |
Federal Home Loan Bank Advances [Member] | ||
Note 7 - Other Borrowed Funds (Details) - Scheduled Principal Payments [Line Items] | ||
2015 | 1,773 | |
2016 | 1,594 | |
2017 | 4,534 | |
2018 | 1,484 | |
2019 | 1,443 | |
Thereafter | 10,353 | |
21,181 | 15,219 | |
Promissory Notes [Member] | ||
Note 7 - Other Borrowed Funds (Details) - Scheduled Principal Payments [Line Items] | ||
2015 | 2,044 | |
2016 | 1,747 | |
$3,791 | $3,529 |
Note_8_Subordinated_Debentures1
Note 8 - Subordinated Debentures and Trust Preferred Securities (Details) (USD $) | 0 Months Ended | 1 Months Ended | 0 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 07, 2013 | Mar. 22, 2007 | Sep. 07, 2000 | Dec. 31, 2014 | Dec. 31, 2013 |
Note 8 - Subordinated Debentures and Trust Preferred Securities (Details) [Line Items] | |||||
Proceeds from Issuance of Trust Preferred Securities (in Dollars) | $8,500 | $5,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.58% | 10.60% | 1.92% | 1.92% | |
Callable Premium at Issuance | 105.30% | ||||
Annual Decrease in Callable Premium | 0.53% | ||||
Redemption of Subordinated Debentures, Percent of Total Amount | 104.24% | ||||
London Interbank Offered Rate (LIBOR) [Member] | |||||
Note 8 - Subordinated Debentures and Trust Preferred Securities (Details) [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.68% |
Note_9_Income_Taxes_Details
Note 9 - Income Taxes (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Note 9 - Income Taxes (Details) [Line Items] | |
Effective Income Tax Rate Reconciliation, Percent | 34.00% |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | $1.20 |
Earliest Tax Year [Member] | Domestic Tax Authority [Member] | |
Note 9 - Income Taxes (Details) [Line Items] | |
Open Tax Year | 2011 |
Earliest Tax Year [Member] | State and Local Jurisdiction [Member] | |
Note 9 - Income Taxes (Details) [Line Items] | |
Open Tax Year | 2011 |
Latest Tax Year [Member] | Domestic Tax Authority [Member] | |
Note 9 - Income Taxes (Details) [Line Items] | |
Open Tax Year | 2013 |
Latest Tax Year [Member] | State and Local Jurisdiction [Member] | |
Note 9 - Income Taxes (Details) [Line Items] | |
Open Tax Year | 2013 |
Note_9_Income_Taxes_Details_Pr
Note 9 - Income Taxes (Details) - Provision for Income Taxes (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Provision for Income Taxes [Abstract] | |||
Current tax expense | $3,637 | $2,795 | $2,968 |
Deferred tax (benefit) expense | -517 | 144 | -206 |
Total income taxes | $3,120 | $2,939 | $2,762 |
Note_9_Income_Taxes_Details_De
Note 9 - Income Taxes (Details) - Deferred Tax Assets and Deferred Tax Liabilities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets and Deferred Tax Liabilities [Abstract] | ||
Allowance for loan losses | $2,882 | $2,139 |
Deferred compensation | 2,008 | 1,847 |
Deferred loan fees/costs | 288 | 290 |
Other real estate owned | 370 | 403 |
Other | 84 | 205 |
Mortgage servicing rights | -167 | -185 |
FHLB stock dividends | -1,074 | -1,081 |
Unrealized gain on securities available for sale | -495 | -128 |
Prepaid expenses | -206 | -5 |
Depreciation and amortization | -451 | -397 |
Other | -2 | -1 |
Net deferred tax asset | $3,237 | $3,087 |
Note_9_Income_Taxes_Details_In
Note 9 - Income Taxes (Details) - Income Tax Reconciliation (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 9 - Income Taxes (Details) - Income Tax Reconciliation [Line Items] | |||
Statutory tax | $3,806 | $3,757 | $3,337 |
Effect of postretirement benefits | 238 | ||
Effect of nontaxable life insurance death proceeds | -154 | ||
Effect of state income tax | 73 | 76 | 53 |
Tax credits | -231 | -230 | -250 |
Other items | 11 | 7 | 24 |
Total income taxes | 3,120 | 2,939 | 2,762 |
Effect of nontaxable insurance premiums | -142 | ||
Nontaxable Interest Income [Member] | |||
Note 9 - Income Taxes (Details) - Income Tax Reconciliation [Line Items] | |||
Tax exempt income | -418 | -322 | -302 |
Bank Owned Insurance Income [Member] | |||
Note 9 - Income Taxes (Details) - Income Tax Reconciliation [Line Items] | |||
Tax exempt income | ($217) | ($195) | ($100) |
Note_10_Commitments_and_Contin2
Note 10 - Commitments and Contingent Liabilities (Details) | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 22, 2007 | Sep. 07, 2000 |
Note 10 - Commitments and Contingent Liabilities (Details) [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 1.92% | 1.92% | 6.58% | 10.60% |
Fixed Rate Commitments [Member] | Minimum [Member] | ||||
Note 10 - Commitments and Contingent Liabilities (Details) [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | |||
Fixed Rate Commitments [Member] | Maximum [Member] | ||||
Note 10 - Commitments and Contingent Liabilities (Details) [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% |
Note_10_Commitments_and_Contin3
Note 10 - Commitments and Contingent Liabilities (Details) - Commitments (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Commitments [Line Items] | ||
Standby letters of credit | $4,110 | $6,257 |
Fixed Rate Commitments [Member] | ||
Other Commitments [Line Items] | ||
Commitments | 223 | 237 |
Variable Rate Commitments [Member] | ||
Other Commitments [Line Items] | ||
Commitments | $51,011 | $60,971 |
Note_11_Related_Party_Transact2
Note 11 - Related Party Transactions (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 11 - Related Party Transactions (Details) [Line Items] | ||
Minimum Related Party Loan | $120 | |
Deposits | 646,830 | 628,877 |
Principal Officers, Directors, and Their Affiliates [Member] | ||
Note 11 - Related Party Transactions (Details) [Line Items] | ||
Deposits | $14,616 | $16,219 |
Note_11_Related_Party_Transact3
Note 11 - Related Party Transactions (Details) - Related Party Loans (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Related Party Loans [Abstract] | |
Total loans at January 1, 2014 | $5,679 |
New loans | 37 |
Repayments | -532 |
Total loans at December 31, 2014 | $5,184 |
Note_12_Employee_Benefits_Deta
Note 12 - Employee Benefits (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 12 - Employee Benefits (Details) [Line Items] | |||
Defined Contribution Plan, Cost Recognized | $278 | $227 | $222 |
Employee Stock Ownership Plan (ESOP), Shares in ESOP (in Shares) | 324,675 | 310,964 | |
Cash Surrender Value of Life Insurance | 23,657 | ||
Deferred Compensation Plan Assets | 1,955 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 5,806 | 5,297 | |
Defined Benefit Plan, Benefit Obligation | 2,852 | 2,152 | |
Supplemental Retirement Plans [Member] | |||
Note 12 - Employee Benefits (Details) [Line Items] | |||
Defined Contribution Plan, Cost Recognized | $604 | $787 | $536 |
Note_12_Employee_Benefits_Deta1
Note 12 - Employee Benefits (Details) - Employee Stock Ownership Plan (ESOP) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Stock Ownership Plan (ESOP) [Abstract] | |||
Number of shares issued (in Shares) | 14,618 | 28,634 | 32,765 |
Fair value of stock contributed | $351 | $640 | $617 |
Cash contributed | 300 | 73 | 82 |
Total expense | $651 | $713 | $699 |
Note_13_Fair_Value_of_Financia2
Note 13 - Fair Value of Financial Instruments (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 13 - Fair Value of Financial Instruments (Details) [Line Items] | |||
Selling Costs, Percentage | 10.00% | ||
Impaired Financing Receivable, Related Allowance | $3,412 | $2,625 | $2,107 |
Other Real Estate | 1,147 | 1,058 | 2,617 |
Other Real Estate, Gross | 2,217 | 2,217 | 4,214 |
Real Estate Owned, Valuation Allowance | 1,070 | 1,159 | 1,597 |
SEC Schedule III, Real Estate, Write-down or Reserve, Amount | 88 | 577 | 331 |
Collateral Dependent Loans [Member] | |||
Note 13 - Fair Value of Financial Instruments (Details) [Line Items] | |||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 0 | 0 | 2,479 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 12,773 | 7,701 | 1,979 |
Impaired Financing Receivable, Related Allowance | 3,292 | 2,498 | 1,979 |
Provision for Loan Losses Expensed | ($1,044) | $519 |
Note_13_Fair_Value_of_Financia3
Note 13 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Owner Occupied [Member] | Commercial Real Estate Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Note 13 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured on a recurring basis | $1,679 | |
Assets measured on a nonrecurring basis | 133 | |
Nonowner Occupied [Member] | Commercial Real Estate Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Note 13 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured on a nonrecurring basis | 5,270 | 1,973 |
Commercial and Industrial [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Note 13 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured on a nonrecurring basis | 2,532 | |
Commercial and Industrial [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | ||
Note 13 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured on a nonrecurring basis | 2,863 | |
Commercial Real Estate Construction Financing Receivable [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | ||
Note 13 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured on a nonrecurring basis | 1,147 | 1,058 |
Residential Real Estate Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Note 13 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured on a nonrecurring basis | 234 | |
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 13 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured on a recurring basis | 8,917 | 8,852 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Note 13 - Fair Value of Financial Instruments (Details) - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured on a recurring basis | $76,319 | $75,216 |
Note_13_Fair_Value_of_Financia4
Note 13 - Fair Value of Financial Instruments (Details) - Level 3 Fair Value Measurements (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Market Approach Valuation Technique [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Minimum [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 0.30% | |
Market Approach Valuation Technique [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Maximum [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 62.00% | |
Market Approach Valuation Technique [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Weighted Average [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 18.00% | |
Market Approach Valuation Technique [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | ||
Commercial real estate: | ||
Fair value (in Dollars) | 1,679 | |
Valuation technique | Sales approach | |
Market Approach Valuation Technique [Member] | Nonowner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Minimum [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 0.00% | 5.00% |
Market Approach Valuation Technique [Member] | Nonowner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Maximum [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 12.50% | 10.00% |
Market Approach Valuation Technique [Member] | Nonowner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Weighted Average [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 5.70% | 8.00% |
Market Approach Valuation Technique [Member] | Nonowner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | ||
Commercial real estate: | ||
Fair value (in Dollars) | 2,673 | 1,973 |
Valuation technique | Sales approach | Sales approach |
Market Approach Valuation Technique [Member] | Commercial and Industrial [Member] | Impaired Loans [Member] | Minimum [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 10.00% | |
Market Approach Valuation Technique [Member] | Commercial and Industrial [Member] | Impaired Loans [Member] | Maximum [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 30.00% | |
Market Approach Valuation Technique [Member] | Commercial and Industrial [Member] | Impaired Loans [Member] | Weighted Average [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 21.42% | |
Market Approach Valuation Technique [Member] | Commercial and Industrial [Member] | Impaired Loans [Member] | ||
Commercial real estate: | ||
Fair value (in Dollars) | 2,532 | |
Valuation technique | Sales approach | |
Market Approach Valuation Technique [Member] | Commercial and Industrial [Member] | Other Real Estate Owned [Member] | Minimum [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 0.00% | |
Market Approach Valuation Technique [Member] | Commercial and Industrial [Member] | Other Real Estate Owned [Member] | Maximum [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 20.00% | |
Market Approach Valuation Technique [Member] | Commercial and Industrial [Member] | Other Real Estate Owned [Member] | Weighted Average [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 16.00% | |
Market Approach Valuation Technique [Member] | Commercial and Industrial [Member] | Other Real Estate Owned [Member] | ||
Commercial real estate: | ||
Fair value (in Dollars) | 2,863 | |
Valuation technique | Sales approach | |
Market Approach Valuation Technique [Member] | Commercial Real Estate Construction Financing Receivable [Member] | Other Real Estate Owned [Member] | Minimum [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 5.00% | 5.00% |
Market Approach Valuation Technique [Member] | Commercial Real Estate Construction Financing Receivable [Member] | Other Real Estate Owned [Member] | Maximum [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 35.00% | 35.00% |
Market Approach Valuation Technique [Member] | Commercial Real Estate Construction Financing Receivable [Member] | Other Real Estate Owned [Member] | Weighted Average [Member] | ||
Commercial real estate: | ||
Adjustment to comparables | 18.00% | 19.00% |
Market Approach Valuation Technique [Member] | Commercial Real Estate Construction Financing Receivable [Member] | Other Real Estate Owned [Member] | ||
Commercial real estate: | ||
Fair value (in Dollars) | 1,147 | 1,058 |
Valuation technique | Sales approach | Sales approach |
Income Approach Valuation Technique [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Maximum [Member] | ||
Commercial real estate: | ||
Capitalization rate | 10.00% | |
Income Approach Valuation Technique [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Weighted Average [Member] | ||
Commercial real estate: | ||
Capitalization rate | 10.00% | |
Income Approach Valuation Technique [Member] | Owner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | ||
Commercial real estate: | ||
Valuation technique | Income approach | |
Income Approach Valuation Technique [Member] | Nonowner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Maximum [Member] | ||
Commercial real estate: | ||
Capitalization rate | 6.50% | |
Income Approach Valuation Technique [Member] | Nonowner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | Weighted Average [Member] | ||
Commercial real estate: | ||
Capitalization rate | 6.50% | |
Income Approach Valuation Technique [Member] | Nonowner Occupied [Member] | Commercial Real Estate Portfolio Segment [Member] | Impaired Loans [Member] | ||
Commercial real estate: | ||
Fair value (in Dollars) | 2,597 | |
Valuation technique | Income approach |
Note_13_Fair_Value_of_Financia5
Note 13 - Fair Value of Financial Instruments (Details) - Fair Value Measurements (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Financial Assets: | ||||
Cash and cash equivalents, carrying value | $30,977 | $28,344 | $45,651 | $51,630 |
Interest-bearing deposits with banks | 980 | |||
Securities available for sale, carrying value | 85,236 | 84,068 | ||
Securities available for sale, fair value | 85,236 | 84,068 | ||
Securities held to maturity, carrying value | 22,820 | 22,826 | ||
Securities held to maturity, fair value | 23,570 | 22,984 | ||
Federal Home Loan Bank and Federal Reserve Bank stock, carrying value | 6,576 | 7,776 | ||
Loans, net, carrying value | 586,434 | 560,164 | ||
Accrued interest receivable, carrying value | 1,806 | 1,901 | ||
Financial Liabilities: | ||||
Deposits, carrying value | 646,830 | 628,877 | ||
Other borrowed funds, carrying value | 24,972 | 18,748 | ||
Subordinated debentures, carrying value | 8,500 | 8,500 | ||
Accrued interest payable, carrying value | 394 | 792 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Financial Assets: | ||||
Cash and cash equivalents, fair value | 30,977 | 28,344 | ||
Federal Home Loan Bank and Federal Reserve Bank stock, fair value | ||||
Financial Liabilities: | ||||
Deposits, fair value | 161,784 | 148,847 | ||
Accrued interest payable, fair value | 4 | 3 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Financial Assets: | ||||
Interest-bearing deposits with banks | 980 | |||
Securities available for sale, carrying value | 85,236 | 84,068 | ||
Securities available for sale, fair value | 85,236 | 84,068 | ||
Securities held to maturity, fair value | 12,144 | 11,502 | ||
Federal Home Loan Bank and Federal Reserve Bank stock, fair value | ||||
Accrued interest receivable, fair value | 230 | 241 | ||
Financial Liabilities: | ||||
Deposits, fair value | 485,503 | 479,962 | ||
Other borrowed funds, fair value | 24,555 | 17,453 | ||
Subordinated debentures, fair value | 4,979 | 4,896 | ||
Accrued interest payable, fair value | 390 | 789 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Financial Assets: | ||||
Securities held to maturity, fair value | 11,426 | 11,482 | ||
Federal Home Loan Bank and Federal Reserve Bank stock, fair value | ||||
Loans, net, fair value | 591,594 | 564,589 | ||
Accrued interest receivable, fair value | 1,576 | 1,660 | ||
Estimate of Fair Value Measurement [Member] | ||||
Financial Assets: | ||||
Cash and cash equivalents, fair value | 30,977 | 28,344 | ||
Interest-bearing deposits with banks | 980 | |||
Securities available for sale, carrying value | 85,236 | 84,068 | ||
Securities available for sale, fair value | 85,236 | 84,068 | ||
Securities held to maturity, fair value | 23,570 | 22,984 | ||
Federal Home Loan Bank and Federal Reserve Bank stock, fair value | ||||
Loans, net, fair value | 591,594 | 564,589 | ||
Accrued interest receivable, fair value | 1,806 | 1,901 | ||
Financial Liabilities: | ||||
Deposits, fair value | 647,287 | 628,809 | ||
Other borrowed funds, fair value | 24,555 | 17,453 | ||
Subordinated debentures, fair value | 4,979 | 4,896 | ||
Accrued interest payable, fair value | $394 | $792 |
Note_14_Regulatory_Matters_Det
Note 14 - Regulatory Matters (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Disclosure Text Block [Abstract] | |
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments | $3,970 |
Note_14_Regulatory_Matters_Det1
Note 14 - Regulatory Matters (Details) - Capital Requirements (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Consolidated Entities [Member] | ||
2014 | ||
Total capital (to risk weighted assets) actual, amount | $99,607 | $93,504 |
Total capital (to risk weighted assets) actual, ratio | 17.40% | 16.80% |
Total capital (to risk weighted assets) minimum required for capital adequacy purposes, amount | 45,765 | 44,565 |
Total capital (to risk weighted assets) minimum required for capital adequacy purposes, ratio | 8.00% | 8.00% |
Total capital (to risk weighted assets) minimum required to be well capitalized under prompt corrective action regulations, amount | 57,206 | 55,706 |
Total capital (to risk weighted assets) minimum required to be well capitalized under prompt corrective action regulations, ratio | ||
Tier 1 capital (to risk weighted assets) actual amount | 92,442 | 87,349 |
Tier 1 capital (to risk weighted assets) actual ratio | 16.20% | 15.70% |
Tier 1 capital (to risk weighted assets) minimum required for capital adequacy purposes, amount | 22,883 | 22,283 |
Tier 1 capital (to risk weighted assets) minimum required for capital adequacy purposes, ratio | 4.00% | 4.00% |
Tier 1 capital (to risk weighted assets) minimum required to be well capitalized under prompt corrective action regulations, amount | 34,324 | 33,424 |
Tier 1 capital (to risk weighted assets) minimum required to be well capitalized under prompt corrective action regulations, ratio | ||
Tier 1 capital (to average assets) actual amount | 92,442 | 87,349 |
Tier 1 capital (to average assets) actual ratio | 11.80% | 11.70% |
Tier 1 capital (to average assets) minimum required for capital adequacy purposes, amount | 31,306 | 29,918 |
Tier 1 capital (to average assets) minimum required for capital adequacy purposes, ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets) minimum required to be well capitalized under prompt corrective action regulations, amount | 39,133 | 37,397 |
Tier 1 capital (to average assets) minimum required to be well capitalized under prompt corrective action regulations, ratio | ||
Bank [Member] | ||
2014 | ||
Total capital (to risk weighted assets) actual, amount | 87,670 | 83,057 |
Total capital (to risk weighted assets) actual, ratio | 15.60% | 15.20% |
Total capital (to risk weighted assets) minimum required for capital adequacy purposes, amount | 44,935 | 43,731 |
Total capital (to risk weighted assets) minimum required for capital adequacy purposes, ratio | 8.00% | 8.00% |
Total capital (to risk weighted assets) minimum required to be well capitalized under prompt corrective action regulations, amount | 56,169 | 54,664 |
Total capital (to risk weighted assets) minimum required to be well capitalized under prompt corrective action regulations, ratio | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) actual amount | 80,637 | 77,230 |
Tier 1 capital (to risk weighted assets) actual ratio | 14.40% | 14.10% |
Tier 1 capital (to risk weighted assets) minimum required for capital adequacy purposes, amount | 22,468 | 21,866 |
Tier 1 capital (to risk weighted assets) minimum required for capital adequacy purposes, ratio | 4.00% | 4.00% |
Tier 1 capital (to risk weighted assets) minimum required to be well capitalized under prompt corrective action regulations, amount | 33,701 | 32,798 |
Tier 1 capital (to risk weighted assets) minimum required to be well capitalized under prompt corrective action regulations, ratio | 6.00% | 6.00% |
Tier 1 capital (to average assets) actual amount | 80,637 | 77,230 |
Tier 1 capital (to average assets) actual ratio | 10.50% | 10.50% |
Tier 1 capital (to average assets) minimum required for capital adequacy purposes, amount | 30,702 | 29,410 |
Tier 1 capital (to average assets) minimum required for capital adequacy purposes, ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets) minimum required to be well capitalized under prompt corrective action regulations, amount | $38,377 | $36,762 |
Tier 1 capital (to average assets) minimum required to be well capitalized under prompt corrective action regulations, ratio | 5.00% | 5.00% |
Note_15_Parent_Company_Only_Co2
Note 15 - Parent Company Only Condensed Financial Information (Details) - Condensed Statements of Condition (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | $30,977 | $28,344 | $45,651 | $51,630 |
Other assets | 6,240 | 5,723 | ||
Total assets | 778,668 | 747,368 | 769,223 | |
Liabilities | ||||
Subordinated debentures | 8,500 | 8,500 | ||
Total liabilities | 692,452 | 666,949 | ||
Shareholders’ Equity | ||||
Total shareholders’ equity | 86,216 | 80,419 | 75,820 | 71,843 |
Total liabilities and shareholders’ equity | 778,668 | 747,368 | ||
Parent Company [Member] | ||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||
Cash and cash equivalents | 2,875 | 2,436 | 1,700 | 1,462 |
Investment in subsidiaries | 91,991 | 86,644 | ||
Notes receivable - subsidiaries | 3,782 | 3,520 | ||
Other assets | 47 | 370 | ||
Total assets | 98,695 | 92,970 | ||
Liabilities | ||||
Notes payable | 3,791 | 3,529 | ||
Subordinated debentures | 8,500 | 8,500 | ||
Other liabilities | 188 | 522 | ||
Total liabilities | 12,479 | 12,551 | ||
Shareholders’ Equity | ||||
Total shareholders’ equity | 86,216 | 80,419 | ||
Total liabilities and shareholders’ equity | $98,695 | $92,970 |
Note_15_Parent_Company_Only_Co3
Note 15 - Parent Company Only Condensed Financial Information (Details) - Condensed Statements of Income (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Income Statements, Captions [Line Items] | |||||||||||||||
Gain on sale of ProAlliance Corporation | $810 | ||||||||||||||
Expenses: | |||||||||||||||
Interest on subordinated debentures | 165 | 265 | 789 | ||||||||||||
Income before income taxes and equity in undistributed earnings of subsidiaries | 11,193 | 11,051 | 9,814 | ||||||||||||
Income tax benefit | 3,120 | 2,939 | 2,762 | ||||||||||||
Net Income | 423 | 2,742 | 1,344 | 3,564 | 1,886 | 1,061 | 1,942 | 3,223 | 1,604 | 1,107 | 1,719 | 2,622 | 8,073 | 8,112 | 7,052 |
Parent Company [Member] | |||||||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||||||
Interest on notes | 84 | 85 | 114 | ||||||||||||
Other operating income | 34 | 68 | 84 | ||||||||||||
Dividends from subsidiaries | 3,500 | 8,500 | 4,500 | ||||||||||||
Gain on sale of ProAlliance Corporation | 810 | ||||||||||||||
Expenses: | |||||||||||||||
Interest on notes | 84 | 86 | 114 | ||||||||||||
Interest on subordinated debentures | 165 | 265 | 789 | ||||||||||||
Operating expenses | 384 | 456 | 364 | ||||||||||||
Income before income taxes and equity in undistributed earnings of subsidiaries | 3,795 | 7,846 | 3,431 | ||||||||||||
Income tax benefit | -108 | 214 | 355 | ||||||||||||
Equity in undistributed earnings of subsidiaries | 4,386 | 52 | 3,266 | ||||||||||||
Net Income | $8,073 | $8,112 | $7,052 |
Note_15_Parent_Company_Only_Co4
Note 15 - Parent Company Only Condensed Financial Information (Details) - Condensed Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net Income | $8,073 | $8,112 | $7,052 |
Gain on sale of ProAlliance Corporation | -810 | ||
Common stock issued to ESOP | -351 | -640 | -617 |
Change in other assets | -366 | 1,128 | -756 |
Net cash provided by operating activities | 11,681 | 13,158 | 10,831 |
Cash flows from investing activities: | |||
Proceeds from sale of ProAlliance Corporation | 810 | ||
Net cash provided by (used in) investing activities | -29,887 | -946 | 26,361 |
Cash flows from financing activities: | |||
Proceeds from common stock through dividend reinvestment | 103 | 170 | 55 |
Cash dividends paid | -3,441 | -2,965 | -4,393 |
Repayment of subordinated debentures | -5,000 | ||
Net cash used in financing activities | 20,839 | -29,519 | -43,171 |
Cash and cash equivalents: | |||
Change in cash and cash equivalents | 2,633 | -17,307 | -5,979 |
Cash and cash equivalents at beginning of year | 28,344 | 45,651 | 51,630 |
Cash and cash equivalents at end of year | 30,977 | 28,344 | 45,651 |
Parent Company [Member] | |||
Condensed Cash Flow Statements, Captions [Line Items] | |||
Net Income | 8,073 | 8,112 | 7,052 |
Gain on sale of ProAlliance Corporation | -810 | ||
Equity in undistributed earnings of subsidiaries | -4,386 | -52 | -3,266 |
Common stock issued to ESOP | 351 | 640 | 617 |
Change in other assets | 323 | -60 | 96 |
Change in other liabilities | -334 | -15 | -21 |
Net cash provided by operating activities | 3,217 | 8,625 | 4,478 |
Cash flows from investing activities: | |||
Proceeds from sale of ProAlliance Corporation | 810 | ||
Investment in OVBC Captive | -250 | ||
Change in notes receivable | -262 | -97 | 320 |
Net cash provided by (used in) investing activities | 298 | -97 | 320 |
Cash flows from financing activities: | |||
Change in notes payable | 262 | 3 | -222 |
Proceeds from common stock through dividend reinvestment | 103 | 170 | 55 |
Cash dividends paid | -3,441 | -2,965 | -4,393 |
Repayment of subordinated debentures | -5,000 | ||
Net cash used in financing activities | -3,076 | -7,792 | -4,560 |
Cash and cash equivalents: | |||
Change in cash and cash equivalents | 439 | 736 | 238 |
Cash and cash equivalents at beginning of year | 2,436 | 1,700 | 1,462 |
Cash and cash equivalents at end of year | $2,875 | $2,436 | $1,700 |
Note_16_Segment_Information_De
Note 16 - Segment Information (Details) (Banking [Member], Sales Revenue, Net [Member], Customer Concentration Risk [Member]) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Banking [Member] | Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | |||
Note 16 - Segment Information (Details) [Line Items] | |||
Concentration Risk, Percentage | 90.60% | 90.50% | 91.20% |
Note_16_Segment_Information_De1
Note 16 - Segment Information (Details) - Segment Reporting (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||||||||||||
Net interest income | $8,303 | $8,208 | $8,187 | $8,782 | $8,193 | $7,930 | $7,841 | $8,421 | $7,823 | $7,867 | $8,053 | $8,912 | $33,480 | $32,385 | $32,655 | ||||||||||||
Provision expense | 1,589 | [1] | -682 | [1] | 1,386 | [1] | 494 | [1] | -198 | [2] | 833 | [2] | -189 | [2] | 31 | [2] | -1,440 | [3] | 1,183 | [3] | 524 | [3] | 1,316 | [3] | 2,787 | 477 | 1,583 |
Noninterest income | 1,657 | [4] | 2,106 | [4] | 1,912 | [4] | 4,118 | [4] | 1,039 | [4] | 1,574 | [4] | 1,965 | [4] | 3,940 | [4] | 1,356 | [4] | 1,674 | [4] | 1,974 | [4] | 3,479 | [4] | 9,793 | 8,518 | 8,483 |
Noninterest expense | 7,757 | 7,244 | 6,997 | 7,295 | 6,790 | 7,320 | 7,317 | 7,948 | 8,290 | 6,957 | 7,162 | 7,332 | 29,293 | 29,375 | 29,741 | ||||||||||||
Tax expense | 3,120 | 2,939 | 2,762 | ||||||||||||||||||||||||
Net income | 423 | 2,742 | 1,344 | 3,564 | 1,886 | 1,061 | 1,942 | 3,223 | 1,604 | 1,107 | 1,719 | 2,622 | 8,073 | 8,112 | 7,052 | ||||||||||||
Assets | 778,668 | 747,368 | 769,223 | 778,668 | 747,368 | 769,223 | |||||||||||||||||||||
Banking [Member] | |||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||||||||||||
Net interest income | 30,172 | 29,141 | 29,445 | ||||||||||||||||||||||||
Provision expense | 2,645 | 364 | 1,527 | ||||||||||||||||||||||||
Noninterest income | 8,897 | 7,711 | 7,734 | ||||||||||||||||||||||||
Noninterest expense | 26,806 | 26,914 | 27,384 | ||||||||||||||||||||||||
Tax expense | 2,587 | 2,440 | 2,240 | ||||||||||||||||||||||||
Net income | 7,031 | 7,134 | 6,028 | ||||||||||||||||||||||||
Assets | 764,510 | 732,905 | 754,490 | 764,510 | 732,905 | 754,490 | |||||||||||||||||||||
Consumer Finance [Member] | |||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||||||||||||
Net interest income | 3,308 | 3,244 | 3,210 | ||||||||||||||||||||||||
Provision expense | 142 | 113 | 56 | ||||||||||||||||||||||||
Noninterest income | 896 | 807 | 749 | ||||||||||||||||||||||||
Noninterest expense | 2,487 | 2,461 | 2,357 | ||||||||||||||||||||||||
Tax expense | 533 | 499 | 522 | ||||||||||||||||||||||||
Net income | 1,042 | 978 | 1,024 | ||||||||||||||||||||||||
Assets | $14,158 | $14,463 | $14,733 | $14,158 | $14,463 | $14,733 | |||||||||||||||||||||
[1] | During the third quarter of 2014, the Company experienced negative provision expense that was primarily related to a decrease in specific allocations impacted by the improvement in collateral values of an impaired commercial real estate loan relationship. A re-appraisal of the commercial properties securing the loan identified asset appreciation, which resulted in a $524 reduction to the specific allocation related to the loan. | ||||||||||||||||||||||||||
[2] | During most of 2013, the Company experienced minimal to negative provision expense as a result of lower general allocations of the allowance for loan losses.General allocations were impacted by improved economic trends that include: decreasing historical loan loss factor, lower delinquencies and lower classified/criticized assets. | ||||||||||||||||||||||||||
[3] | During the fourth quarter of 2012, the Company experienced a large recovery of $1,250 on a previously charged-off commercial loan which lowered net charge-offs.The large decrease in net charge-offs contributed to a lower historical loan loss factor that created a lower level of general allocations within the allowance for loanlosses. | ||||||||||||||||||||||||||
[4] | The Company's noninterest income was significantly impacted by seasonal tax refund processing fees. The Bank serves as a facilitator for the clearing of taxrefunds for a single tax refund product provider. The Bank processes electronic refund checks/deposits associated with taxpayer refunds, and will, in turn, receive a fee paid by the third-party tax refund product provider for each transaction processed. Due to the seasonal nature of tax refund transactions, the majority of income was recorded during the first quarter. |
Note_17_Consolidated_Quarterly2
Note 17 - Consolidated Quarterly Financial Information (unaudited) (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2012 |
Quarterly Financial Information Disclosure [Abstract] | ||
Allowance for Loan and Lease Losses, Adjustments, Net | ($524) | |
Proceeds from Recoveries of Loans Previously Charged off | $1,250 |
Note_17_Consolidated_Quarterly3
Note 17 - Consolidated Quarterly Financial Information (unaudited) (Details) - Consolidated Quarterly Financial Information (unaudited) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||||||
2014 | |||||||||||||||||||||||||||
Total interest income | $9,018 | $8,904 | $8,925 | $9,508 | $8,966 | $8,748 | $8,764 | $9,480 | $9,274 | $9,405 | $9,657 | $10,665 | $36,355 | $35,958 | $39,001 | ||||||||||||
Total interest expense | 715 | 696 | 738 | 726 | 773 | 818 | 923 | 1,059 | 1,451 | 1,538 | 1,604 | 1,753 | 2,875 | 3,573 | 6,346 | ||||||||||||
Net interest income | 8,303 | 8,208 | 8,187 | 8,782 | 8,193 | 7,930 | 7,841 | 8,421 | 7,823 | 7,867 | 8,053 | 8,912 | 33,480 | 32,385 | 32,655 | ||||||||||||
Provision for loan losses (1) | 1,589 | [1] | -682 | [1] | 1,386 | [1] | 494 | [1] | -198 | [2] | 833 | [2] | -189 | [2] | 31 | [2] | -1,440 | [3] | 1,183 | [3] | 524 | [3] | 1,316 | [3] | 2,787 | 477 | 1,583 |
Noninterest income (2) | 1,657 | [4] | 2,106 | [4] | 1,912 | [4] | 4,118 | [4] | 1,039 | [4] | 1,574 | [4] | 1,965 | [4] | 3,940 | [4] | 1,356 | [4] | 1,674 | [4] | 1,974 | [4] | 3,479 | [4] | 9,793 | 8,518 | 8,483 |
Noninterest expense | 7,757 | 7,244 | 6,997 | 7,295 | 6,790 | 7,320 | 7,317 | 7,948 | 8,290 | 6,957 | 7,162 | 7,332 | 29,293 | 29,375 | 29,741 | ||||||||||||
Net income | $423 | $2,742 | $1,344 | $3,564 | $1,886 | $1,061 | $1,942 | $3,223 | $1,604 | $1,107 | $1,719 | $2,622 | $8,073 | $8,112 | $7,052 | ||||||||||||
Earnings per share (in Dollars per share) | $0.10 | $0.67 | $0.33 | $0.87 | $0.47 | $0.26 | $0.48 | $0.79 | $0.40 | $0.27 | $0.43 | $0.65 | $1.97 | $2 | $1.75 | ||||||||||||
[1] | During the third quarter of 2014, the Company experienced negative provision expense that was primarily related to a decrease in specific allocations impacted by the improvement in collateral values of an impaired commercial real estate loan relationship. A re-appraisal of the commercial properties securing the loan identified asset appreciation, which resulted in a $524 reduction to the specific allocation related to the loan. | ||||||||||||||||||||||||||
[2] | During most of 2013, the Company experienced minimal to negative provision expense as a result of lower general allocations of the allowance for loan losses.General allocations were impacted by improved economic trends that include: decreasing historical loan loss factor, lower delinquencies and lower classified/criticized assets. | ||||||||||||||||||||||||||
[3] | During the fourth quarter of 2012, the Company experienced a large recovery of $1,250 on a previously charged-off commercial loan which lowered net charge-offs.The large decrease in net charge-offs contributed to a lower historical loan loss factor that created a lower level of general allocations within the allowance for loanlosses. | ||||||||||||||||||||||||||
[4] | The Company's noninterest income was significantly impacted by seasonal tax refund processing fees. The Bank serves as a facilitator for the clearing of taxrefunds for a single tax refund product provider. The Bank processes electronic refund checks/deposits associated with taxpayer refunds, and will, in turn, receive a fee paid by the third-party tax refund product provider for each transaction processed. Due to the seasonal nature of tax refund transactions, the majority of income was recorded during the first quarter. |