Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 30, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | UWHR | |
Entity Registrant Name | UWHARRIE CAPITAL CORP | |
Entity Central Index Key | 898171 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 6,948,379 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and due from banks | $4,707 | $6,807 |
Interest-earning deposits with banks | 49,325 | 43,984 |
Securities available for sale, at fair value | 105,530 | 112,824 |
Securities held to maturity, at amortized cost (fair value $11,473 and $5,450, respectively) | 11,466 | 5,496 |
Loans held for sale | 401 | 2,147 |
Loans: | ||
Loans held for investment | 308,633 | 310,853 |
Less allowance for loan losses | -3,729 | -3,738 |
Net loans held for investment | 304,904 | 307,115 |
Premises and equipment, net | 14,693 | 14,858 |
Interest receivable | 1,542 | 1,747 |
Restricted stock | 1,039 | 1,038 |
Bank owned life insurance | 6,675 | 6,645 |
Other real estate owned | 5,236 | 5,865 |
Prepaid assets | 835 | 969 |
Other assets | 8,793 | 8,969 |
Total assets | 515,146 | 518,464 |
Deposits: | ||
Demand noninterest-bearing | 86,520 | 80,069 |
Interest checking and money market accounts | 234,600 | 243,116 |
Savings deposits | 38,758 | 39,091 |
Time deposits, $250,000 and over | 9,883 | 9,865 |
Other time deposits | 82,090 | 84,294 |
Total deposits | 451,851 | 456,435 |
Short-term borrowed funds | 4,790 | 4,685 |
Long-term debt | 9,556 | 9,558 |
Interest payable | 181 | 180 |
Other liabilities | 5,272 | 4,783 |
Total liabilities | 471,650 | 475,641 |
Off balance sheet items, commitments and contingencies (Note 9) | ||
SHAREHOLDERS' EQUITY | ||
Common stock, $1.25 par value: 20,000,000 shares authorized; shares issued and outstanding 6,948,379 and 6,961,484 | 8,685 | 8,702 |
Additional paid-in capital | 11,620 | 11,712 |
Undivided profits | 11,465 | 10,974 |
Accumulated other comprehensive income | 522 | 305 |
Total Uwharrie Capital shareholders' equity | 32,292 | 31,693 |
Noncontrolling interest | 10,576 | 10,569 |
Total shareholders' equity | 42,868 | 42,262 |
Total liabilities and shareholders' equity | 515,146 | 518,464 |
Common Stock [Member] | ||
SHAREHOLDERS' EQUITY | ||
Total shareholders' equity | 8,685 | 8,702 |
Common Stock [Member] | Employee Stock Ownership Plan [Member] | ||
Deposits: | ||
Redeemable common stock held by the Employee Stock Ownership Plan (ESOP) (Note 4) | $628 | $561 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Securities held for sale, at amortized cost, fair value | $11,473 | $5,450 |
Common stock, par value | $1.25 | $1.25 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 6,948,379 | 6,948,379 |
Common stock, shares outstanding | 6,961,484 | 6,961,484 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Interest Income | ||
Loans, including fees | $3,910 | $4,059 |
Investment securities | ||
US Treasury | 84 | 93 |
US Government agencies and corporations | 333 | 317 |
State and political subdivisions | 82 | 65 |
Interest-earning deposits with banks and federal funds sold | 37 | 45 |
Total Interest income | 4,446 | 4,579 |
Interest Expense | ||
Interest checking and money market accounts | 70 | 85 |
Savings deposits | 11 | 25 |
Time deposits, $250,000 and over | 11 | 12 |
Other time deposits | 207 | 251 |
Short-term borrowed funds | 12 | 18 |
Long-term debt | 135 | 157 |
Total interest expense | 446 | 548 |
Net interest income | 4,000 | 4,031 |
Provision for (recovery of) loan losses | -62 | -424 |
Net interest income after provision for (recovery of) loan losses | 4,062 | 4,455 |
Noninterest Income | ||
Service charges on deposit accounts | 330 | 378 |
Other service fees and commissions | 982 | 937 |
Gain on sale of securities (includes reclassification of $225,000 and $21,000 from accumulated other comprehensive income) | 225 | 21 |
Gain (loss) on sale of other assets | -22 | 1 |
Income from mortgage loan sales | 501 | 162 |
Other income | 57 | 97 |
Total noninterest income | 2,073 | 1,596 |
Noninterest Expense | ||
Salaries and employee benefits | 3,092 | 3,006 |
Net occupancy expense | 284 | 286 |
Equipment expense | 167 | 170 |
Data processing costs | 176 | 179 |
Office supplies and printing | 49 | 65 |
Foreclosed real estate expense | 119 | 228 |
Professional fees and services | 151 | 157 |
Marketing and donations | 193 | 146 |
Electronic banking expense | 251 | 239 |
Software amortization and maintenance | 150 | 118 |
FDIC insurance | 102 | 112 |
Other noninterest expense | 491 | 540 |
Total noninterest expenses | 5,225 | 5,246 |
Income before income taxes | 910 | 805 |
Income taxes (includes reclassification of $87,000 and $8,000 from accumulated other comprehensive income) | 273 | 268 |
Net income | 637 | 537 |
Less: Net Income attributable to noncontrolling interest | -146 | -146 |
Net income attributable to Uwharrie Capital | 491 | 391 |
Dividends - preferred stock | 0 | 0 |
Net income available to common shareholders | $491 | $391 |
Net income per common share | ||
Basic | $0.07 | $0.05 |
Diluted | $0.07 | $0.05 |
Weighted average common shares outstanding | ||
Basic | 6,961,338 | 7,334,426 |
Diluted | 6,961,338 | 7,334,426 |
Consolidated_Statements_of_Inc1
Consolidated Statements of Income (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Income Statement [Abstract] | ||
Reclassification from accumulated other comprehensive income | $225 | $21 |
Tax effect on amount reclassified from accumulated Other comprehensive income | $87 | $8 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Comprehensive Income [Abstract] | ||
Net Income | $637 | $537 |
Unrealized gain on available for sale securities | 554 | 518 |
Related tax effect | -199 | -177 |
Reclassification of gain recognized in net income | -225 | -21 |
Related tax effect | 87 | 8 |
Total other comprehensive income | 217 | 328 |
Comprehensive income | 854 | 865 |
Less: Comprehensive income attributable to noncontrolling interest | -146 | -146 |
Comprehensive income attributable to Uwharrie Capital | $708 | $719 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (USD $) | Total | Number of Common Shares Issued [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Undivided Profits [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] |
In Thousands, except Share data | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |
Beginning balance at Dec. 31, 2014 | $42,262 | $8,702 | $11,712 | $10,974 | $305 | $10,569 | |
Beginning balance, shares at Dec. 31, 2014 | 6,961,484 | ||||||
Net Income | 637 | 491 | 146 | ||||
Repurchase of common stock | -41 | -17 | -24 | ||||
Repurchase of common stock, shares | -13,105 | ||||||
Other comprehensive Income | 217 | 217 | |||||
Reclass to mezzanine capital | -68 | -68 | |||||
Record preferred stock dividend Series B (noncontrolling interest) | -103 | -103 | |||||
Record preferred stock dividend Series C (noncontrolling interest) | -36 | -36 | |||||
Ending balance at Mar. 31, 2015 | $42,868 | $8,685 | $11,620 | $11,465 | $522 | $10,576 | |
Ending balance, shares at Mar. 31, 2015 | 6,948,379 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash flows from operating activities | ||
Net Income | $637 | $537 |
Adjustments to reconcile net income to net cash Provided (used) by operating activities: | ||
Depreciation | 239 | 218 |
Net amortization of security premiums/discounts AFS | 307 | 231 |
Net amortization of security premiums/discounts HTM | 33 | |
Net amortization of mortgage servicing rights | 166 | 170 |
Impairment of foreclosed real estate | 45 | 9 |
Recovery of loan losses | -62 | -424 |
Net realized gain on sales / calls available for sales securities | -225 | -21 |
Income from mortgage loan sales | -501 | -162 |
Proceeds from sales of loans held for sale | 14,747 | 6,369 |
Origination of loans held for sale | -12,500 | -5,432 |
Increase in cash surrender value of life insurance | -30 | -41 |
Loss / (gain) on sales of foreclosed real estate | 22 | -1 |
Release and write-off of ESOP shares | 30 | |
Net change in interest receivable | 205 | 96 |
Net change in other assets | 48 | 360 |
Net change in interest payable | 1 | -31 |
Net change in other liabilities | 489 | 264 |
Net cash provided by operating activities | 3,621 | 2,172 |
Cash flows from investing activities | ||
Proceeds from sales, maturities and calls of securities available for sale | 11,953 | 1,849 |
Proceeds from sales, maturities and calls of securities held to maturity | 31 | |
Purchase of securities available for sale | -4,412 | -12,790 |
Purchase of securities held to maturity | -6,034 | |
Net decrease in loans | 2,273 | 1,644 |
Purchase of premises and equipment | -74 | -1,793 |
Proceeds from sales of foreclosed real estate | 562 | 211 |
Investment in other assets | -10 | -96 |
Net change in restricted stock | -1 | 146 |
Net cash provided (used) by investing activities | 4,288 | -10,829 |
Cash flows from financing activities | ||
Net decrease in deposit accounts | -4,584 | -1,499 |
Net increase in short-term borrowed funds | 105 | 378 |
Net decrease in long-term debt | -2 | -1,596 |
Repurchase of common stock | -41 | |
Dividend and discount accretion on noncontrolling interest | -146 | -146 |
Net cash used by financing activities | -4,668 | -2,863 |
Increase (decrease) in cash and cash equivalents | 3,241 | -11,520 |
Cash and cash equivalents, beginning of period | 50,791 | 72,394 |
Cash and cash equivalents, end of period | 54,032 | 60,874 |
Supplemental Disclosures of Cash Flow Information | ||
Interest paid | 445 | 579 |
Income taxes paid | 0 | 0 |
Supplemental Schedule of Non-Cash Activities | ||
Net change in fair value securities available for sale, net of tax | 217 | 328 |
Loans transferred to foreclosed real estate | 496 | |
Company financed sales of other real estate owned | 0 | 0 |
Mortgage servicing rights capitalized | 149 | 64 |
Net Change in ESOP liability | ($67) | $148 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Note 1 — Basis of Presentation |
The financial statements and accompanying notes are presented on a consolidated basis including Uwharrie Capital Corp (the “Company”) and its subsidiaries, Uwharrie Bank (the “Bank”), Strategic Investment Advisors, Inc. (“SIA”), and Uwharrie Mortgage Inc. The Bank consolidates its subsidiaries, the Strategic Alliance Corporation, BOS Agency, Inc. and Gateway Mortgage, Inc., each of which is wholly-owned by the Bank. | |
The information contained in the consolidated financial statements is unaudited. In the opinion of management, the consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and material adjustments necessary for a fair presentation of results of interim periods, all of which are of a normal recurring nature, have been made. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for an entire year. Management is not aware of economic events, outside influences or changes in concentrations of business that would require additional clarification or disclosure in the consolidated financial statements. | |
The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to consolidated financial statements filed as part of the Company’s 2014 Annual Report on Form 10-K. This Quarterly Report should be read in conjunction with such Annual Report. | |
Use of Estimates | |
The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America (“GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. |
Comprehensive_Income
Comprehensive Income | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Equity [Abstract] | |||||||||
Comprehensive Income | Note 2 — Comprehensive Income | ||||||||
The Company reports as comprehensive income all changes in shareholders’ equity during the year from sources other than shareholders. Other comprehensive income refers to all components (revenues, expenses, gains, and losses) of comprehensive income that are excluded from net income. The Company’s only component of other comprehensive income is unrealized gains and losses, net of income tax, on investment securities available for sale. | |||||||||
The following table presents the changes in accumulated other comprehensive income for the three months ended March 31, 2015 and 2014: | |||||||||
Unrealized holding gains | |||||||||
(losses) on available-for-sale | |||||||||
Securities (net) | |||||||||
Three months | Three months | ||||||||
ended | ended | ||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
(dollars in thousands) | |||||||||
Beginning Balance | $ | 305 | $ | (562 | ) | ||||
Other comprehensive income (loss) before reclassifications, net of $199,000 and $177,000 tax effect, respectively | 355 | 341 | |||||||
Amounts reclassified from accumulated other comprehensive income, net of $87,000 and $8,000 tax effect | (138 | ) | (13 | ) | |||||
net current-period other comprehensive loss | 217 | 328 | |||||||
Ending Balance | $ | 522 | $ | (234 | ) | ||||
Noncontrolling_Interest
Noncontrolling Interest | 3 Months Ended |
Mar. 31, 2015 | |
Noncontrolling Interest [Abstract] | |
Noncontrolling Interest | Note 3 — Noncontrolling Interest |
In January 2013 the Company’s subsidiary banks issued a total of $7.9 million of Fixed Rate Noncumulative Perpetual Preferred Stock, Series B. The preferred stock qualified as Tier 1 capital at each bank and pays dividends at an annual rate of 5.30%. The preferred stock has no voting rights. This capital is presented as noncontrolling interest in the consolidated balance sheets. Dividends declared on this preferred stock are presented as earnings allocated to the noncontrolling interest in the consolidated statements of income. Effective September 1, 2013, the Fixed Rate Noncumulative Perpetual Preferred Stock, Series B was rolled into one issue under Uwharrie Bank in connection with the consolidation and name change. | |
During 2013, the Company’s subsidiary bank, Uwharrie Bank, raised $2.8 million of Fixed Rate Noncumulative Perpetual Preferred Stock, Series C. The preferred stock qualifies as Tier 1 capital at the bank and pays dividends at an annual rate of 5.30%. The preferred stock has no voting rights. |
Per_Share_Data
Per Share Data | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Per Share Data | Note 4 — Per Share Data | ||||||||
Basic and diluted net income per common share is computed based on the weighted average number of shares outstanding during each period after retroactively adjusting for stock dividends. Diluted net income per common share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income of the Company. The Company had stock options outstanding covering 12,607 shares of common stock at March 31, 2015 and 94,341 shares of common stock at December 31, 2014. All of these options were anti-dilutive. The Employee Stock Ownership Plan, (“ESOP”) effect is the average of the unallocated ESOP shares. | |||||||||
Basic and diluted net income per common share have been computed based upon net income available to common shareholders as presented in the accompanying consolidated statements of income divided by the weighted average number of common shares outstanding or assumed to be outstanding. | |||||||||
The computation of basic and dilutive earnings per share is summarized below: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Weighted average number of common shares outstanding | 6,961,338 | 7,506,156 | |||||||
Effect of unreleased ESOP shares | — | (171,730 | ) | ||||||
Adjusted weighted average number of common shares used in computing basic net income per common share | 6,961,338 | 7,334,426 | |||||||
Effect of dilutive stock options | — | — | |||||||
Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per common share | 6,961,338 | 7,334,426 | |||||||
During the first quarter of 2014, the board of directors of the Company voted to terminate the ESOP effective March 1, 2014. As of February 28, 2014, the ESOP held 740,530 shares, or 9.95% of the Company’s total outstanding shares of common stock, of which 252,446 shares were unallocated to participants in the ESOP. | |||||||||
The Company originally made a term loan to the ESOP in 1999. In addition, the Company established a $500,000 line of credit to the ESOP in 2010 and established a second $500,000 line of credit to the ESOP in 2013. The ESOP used the proceeds of the term loan and lines of credit to purchase shares of the Company’s common stock for the benefit of qualified employees. The unallocated shares of stock held by the ESOP were pledged as collateral for the term loan and lines of credit. As debt payments were made on the term loan and lines of credit, unallocated shares associated with those debt payments were released to the ESOP and allocated among participants. | |||||||||
In connection with the termination of the ESOP, the ESOP trustees transferred the 252,446 remaining unallocated shares to the Company in partial satisfaction of the outstanding balance on the term loan and lines of credit. The fair value of these unallocated shares was insufficient to repay the term loan and lines of credit in full. As a result, the Company forgave the remaining balance. Upon the transfer of the unallocated shares to the Company, these shares were cancelled and returned to the Company’s pool of authorized but unissued shares of common stock. | |||||||||
The Company filed a request for a favorable determination letter from the Internal Revenue Service as to the tax-qualified status of the ESOP on its termination. All allocated shares ere distributed to the ESOP participants prior to December 31, 2014. | |||||||||
The Company received the favorable determination letter dated September 5, 2014 from the Internal Revenue Service. |
Investment_Securities
Investment Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Investment Securities | Note 5 – Investment Securities | ||||||||||||||||||||||||
Carrying amounts and fair values of securities available for sale and held to maturity are summarized below: | |||||||||||||||||||||||||
31-Mar-15 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||||||
U.S. Treasury | $ | 18,972 | $ | 383 | $ | — | $ | 19,355 | |||||||||||||||||
U.S. Government agencies | 45,509 | 274 | 86 | 45,697 | |||||||||||||||||||||
GSE — Mortgage-backed securities and CMO’s | 26,177 | 189 | 180 | 26,186 | |||||||||||||||||||||
State and political subdivisions | 6,634 | 239 | — | 6,873 | |||||||||||||||||||||
Corporate bonds | 7,447 | — | 28 | 7,419 | |||||||||||||||||||||
Total securities available for sale | $ | 104,739 | $ | 1,085 | $ | 294 | $ | 105,530 | |||||||||||||||||
31-Mar-15 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities held to maturity | |||||||||||||||||||||||||
U.S. Government agencies | $ | 2,050 | $ | — | $ | 16 | $ | 2,034 | |||||||||||||||||
State and political subdivisions | 6,024 | 11 | 21 | 6,014 | |||||||||||||||||||||
Corporate bonds | 3,392 | 33 | — | 3,425 | |||||||||||||||||||||
Total securities held to maturity | $ | 11,466 | $ | 44 | $ | 37 | $ | 11,473 | |||||||||||||||||
31-Dec-14 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||||||
U.S. Treasury | $ | 19,030 | $ | 362 | $ | 6 | $ | 19,386 | |||||||||||||||||
U.S. Government agencies | 50,969 | 96 | 290 | 50,775 | |||||||||||||||||||||
GSE — Mortgage-backed securities and CMO’s | 27,748 | 133 | 309 | 27,572 | |||||||||||||||||||||
State and political subdivisions | 11,575 | 505 | — | 12,080 | |||||||||||||||||||||
Corporate bonds | 3,040 | — | 29 | 3,011 | |||||||||||||||||||||
Total securities available for sale | $ | 112,362 | $ | 1,096 | $ | 634 | $ | 112,824 | |||||||||||||||||
31-Dec-14 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities held to maturity | |||||||||||||||||||||||||
U.S. Government agencies | $ | 2,085 | $ | — | $ | 32 | $ | 2,053 | |||||||||||||||||
Corporate bonds | 3,411 | — | 14 | 3,397 | |||||||||||||||||||||
Total securities held to maturity | $ | 5,496 | $ | — | $ | 46 | $ | 5,450 | |||||||||||||||||
At both March 31, 2015 and December 31, 2014, the Company owned Federal Reserve Bank stock reported at cost of $506,000 and $532,000, respectively. Also at March 31, 2015 and December 31, 2014, the Company owned Federal Home Loan Bank Stock (FHLB) of $533,000 and $506,000, respectively. The investments in Federal Reserve stock and FHLB stock are required investments related to the Company’s membership in, and borrowings with, these banks and classified as restricted stock on the consolidated balance sheet. These investments are carried at cost since there is no ready market and redemption has historically been made at par value. The Company estimated that the fair value approximated cost and that these investments were not impaired at March 31, 2015. | |||||||||||||||||||||||||
Results from sales and calls of securities available for sale for the three month period ended March 31, 2015 and March 31, 2014 are as follows: | |||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Gross proceeds from sales | $ | 5,143 | $ | 328 | |||||||||||||||||||||
Gross realized gains from sales/calls | $ | 225 | $ | 21 | |||||||||||||||||||||
Gross realized losses from sales/calls | — | — | |||||||||||||||||||||||
Net realized gains | $ | 225 | $ | 21 | |||||||||||||||||||||
At March 31, 2015 and December 31, 2014, securities available for sale with a carrying amount of $74.1 million and $84.7 million, respectively, were pledged as collateral on public deposits and for other purposes as required or permitted by law. | |||||||||||||||||||||||||
The following tables show the gross unrealized losses and fair value of investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at March 31, 2015 and December 31, 2014. These unrealized losses on investment securities are a result of temporary fluctuations in market prices due to a rise in interest rates, which will adjust if rates decline, and in a volatile market and are in no way a reflection of the credit quality of the investments. Management does not believe these fluctuations are a reflection of the quality of the investments. At March 31, 2015, the unrealized losses on available for sale securities less than twelve months related to four government agency bonds, two government sponsored enterprise (GSE) mortgage backed securities and four corporate bonds. The Company had four government agency bonds and four GSE mortgage backed securities that had been in a loss position for more than twelve months. At March 31, 2015, the unrealized losses on held to maturity securities related to one government agency security and two corporate bonds. At December 31, 2014, the unrealized losses on available for sale securities related to one United States Treasury note, thirteen government agency bonds, eight government sponsored enterprise (GSE) mortgage backed securities and two corporate bonds. At December 31, 2014, the unrealized losses on held to maturity securities related to one government agency security and two corporate bonds. | |||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
31-Mar-15 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities available for sale temporary impairment U.S. Gov’t agencies | $ | 12,617 | $ | 46 | $ | 5,380 | $ | 40 | $ | 17,997 | $ | 86 | |||||||||||||
GSE-Mortgage-backed securities and CMO’s | 3,474 | 15 | 14,168 | 165 | 17,642 | 180 | |||||||||||||||||||
Corporate bonds | 7,447 | 28 | — | — | 7,447 | 28 | |||||||||||||||||||
Total securities available for sale | $ | 23,538 | $ | 89 | $ | 19,548 | $ | 205 | $ | 43,086 | $ | 294 | |||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
31-Mar-15 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Held to maturity temporary impairment U.S. Gov’t agencies | $ | 2,050 | $ | 16 | $ | — | $ | — | $ | 2,050 | $ | 16 | |||||||||||||
State & political | 5,199 | 21 | — | — | 5,199 | 21 | |||||||||||||||||||
Total securities held to maturity | $ | 7,249 | $ | 37 | $ | — | $ | — | $ | 7,249 | $ | 37 | |||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
31-Dec-14 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities available for sale temporary impairment U.S. Treasury | $ | 3,143 | $ | 6 | $ | — | $ | — | $ | 3,143 | $ | 6 | |||||||||||||
U.S. Gov’t agencies | 9,690 | 23 | 17,776 | 267 | 27,466 | 290 | |||||||||||||||||||
GSE-Mortgage-backed securities and CMO’s | 1,990 | 4 | 14,168 | 305 | 16,158 | 309 | |||||||||||||||||||
Corporate bonds | 3,011 | 29 | — | — | 3,011 | 29 | |||||||||||||||||||
Total securities available for sale | $ | 17,834 | $ | 62 | $ | 31,944 | $ | 572 | $ | 49,778 | $ | 634 | |||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
31-Dec-14 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Held to maturity temporary impairment U.S. Gov’t agencies | $ | 2,053 | $ | 32 | $ | — | $ | — | $ | 2,053 | $ | 32 | |||||||||||||
Corporate bonds | 3,397 | 14 | — | — | 3,397 | 14 | |||||||||||||||||||
Total securities held to maturity | $ | 5,450 | $ | 46 | $ | — | $ | — | $ | 5,450 | $ | 46 | |||||||||||||
The Company had four government agency securities and four GSE mortgage backed securities that had been in a loss position for more than twelve months as of March 31, 2015. Declines in the fair value of the investment portfolio are believed by management to be temporary in nature. When evaluating an investment for other-than-temporary impairment management considers among other things, the length of time and the extent to which the fair value has been in a loss position, the financial condition of the issuer and the intent and the ability of the Company to hold the investment until the loss position is recovered. | |||||||||||||||||||||||||
Any unrealized losses were largely due to increases in market interest rates over the yields available at the time of purchase. The fair value is expected to recover as the bonds approach their maturity date or market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of quality but that the losses are temporary in nature. At March 31, 2015, the Company does not intend to sell and is not likely to be required to sell the available for sale securities that were in a loss position prior to full recovery. | |||||||||||||||||||||||||
The aggregate amortized cost and fair value of the available for sale securities portfolio at March 31, 2015 by remaining contractual maturity are as follows: | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Amortized | Estimated | Book | |||||||||||||||||||||||
Cost | Fair Value | Yield | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||||||
U. S. Treasury | |||||||||||||||||||||||||
Due after one but within five years | 18,972 | 19,355 | 1.86 | % | |||||||||||||||||||||
18,972 | 19,355 | 1.86 | % | ||||||||||||||||||||||
U.S. Government agencies | |||||||||||||||||||||||||
Due after one but within five years | 36,207 | 36,433 | 1.3 | % | |||||||||||||||||||||
Due after five but within ten years | 750 | 754 | 2.23 | % | |||||||||||||||||||||
Due after ten years | 8,552 | 8,510 | 2.27 | % | |||||||||||||||||||||
45,509 | 45,697 | 1.5 | % | ||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||
Due after one but within five years | 3,907 | 3,897 | 1.5 | % | |||||||||||||||||||||
Due after five but within ten years | 2,909 | 2,956 | 2.07 | % | |||||||||||||||||||||
Due after ten years | 19,361 | 19,333 | 2.03 | % | |||||||||||||||||||||
26,177 | 26,186 | 1.96 | % | ||||||||||||||||||||||
State and political subdivisions | |||||||||||||||||||||||||
Due within twelve months | 650 | 664 | 5.46 | % | |||||||||||||||||||||
Due after one but within five years | 1,907 | 2,039 | 4.76 | % | |||||||||||||||||||||
Due after five but within ten years | 1,070 | 1,097 | 6.24 | % | |||||||||||||||||||||
Due after ten years | 3,007 | 3,073 | 4.07 | % | |||||||||||||||||||||
6,634 | 6,873 | 4.76 | % | ||||||||||||||||||||||
Corporate Bonds | |||||||||||||||||||||||||
Due after one but within five years | 4,408 | 4,400 | 1.14 | % | |||||||||||||||||||||
Due after five but within ten years | 3,039 | 3,019 | 1.27 | % | |||||||||||||||||||||
7,447 | 7,419 | 1.2 | % | ||||||||||||||||||||||
Total Securities available for sale | |||||||||||||||||||||||||
Due within twelve months | 650 | 664 | 5.46 | % | |||||||||||||||||||||
Due after one but within five years | 65,401 | 66,124 | 1.56 | % | |||||||||||||||||||||
Due after five but within ten years | 7,768 | 7,826 | 2.35 | % | |||||||||||||||||||||
Due after ten years | 30,920 | 30,916 | 2.3 | % | |||||||||||||||||||||
$ | $ | 105,530 | 1.86 | % | |||||||||||||||||||||
104,739 | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Amortized | Estimated | Book | |||||||||||||||||||||||
Cost | Fair Value | Yield | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Held to maturity | |||||||||||||||||||||||||
U. S. Government agencies | |||||||||||||||||||||||||
Due after one but within five years | 2,050 | 2,034 | 2.23 | % | |||||||||||||||||||||
2,050 | 2,034 | 2.23 | % | ||||||||||||||||||||||
State and political subdivisions | |||||||||||||||||||||||||
Due after five but within ten years | 5,042 | 5,038 | 2.75 | % | |||||||||||||||||||||
Due after ten years | 982 | 976 | 2.58 | % | |||||||||||||||||||||
6,024 | 6,014 | 2.73 | % | ||||||||||||||||||||||
Corporate Bonds | |||||||||||||||||||||||||
Due after one but within five years | 1,686 | 1,702 | 2.73 | % | |||||||||||||||||||||
Due after five but within ten years | 1,706 | 1,723 | 2.79 | % | |||||||||||||||||||||
3,392 | 3,425 | 2.76 | % | ||||||||||||||||||||||
Total Securities held for maturity | |||||||||||||||||||||||||
Due after one but within five years | 1,686 | 1,702 | 2.73 | % | |||||||||||||||||||||
Due after five but within ten years | 8,798 | 8,795 | 2.64 | % | |||||||||||||||||||||
Due after ten years | 982 | 976 | 2.58 | % | |||||||||||||||||||||
$ | 11,466 | $ | 11,473 | 2.65 | % | ||||||||||||||||||||
Loans_Held_for_Investment
Loans Held for Investment | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Receivables [Abstract] | |||||||||
Loans Held for Investment | Note 6 — Loans Held for Investment | ||||||||
The composition of net loans held for investment by class as of March 31, 2015 and December 31, 2014 are as follows: | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(dollars in thousands) | |||||||||
Commercial | |||||||||
Commercial | $ | 46,916 | $ | 47,418 | |||||
Real estate — commercial | 92,903 | 92,517 | |||||||
Other real estate construction loans | 22,691 | 22,362 | |||||||
Noncommercial | |||||||||
Real estate 1-4 family construction | 4,094 | 3,888 | |||||||
Real estate — residential | 86,932 | 89,374 | |||||||
Home equity | 46,607 | 46,360 | |||||||
Consumer loans | 8,104 | 8,460 | |||||||
Other loans | 396 | 481 | |||||||
308,643 | 310,860 | ||||||||
Less: | |||||||||
Allowance for loan losses | (3,729 | ) | (3,738 | ) | |||||
Deferred loan (fees) costs, net | (10 | ) | (7 | ) | |||||
Loans held for investment, net | $ | 304,904 | $ | 307,115 | |||||
Allowance_for_Loan_Losses
Allowance for Loan Losses | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||
Allowance for Loan Losses | Note 7 — Allowance for Loan Losses | ||||||||||||||||||||||||
The following table shows the change in the allowance for loss losses by loan segment for the three month period ended March 31, 2015 and 2014, respectively: | |||||||||||||||||||||||||
Commercial | Three Months Ended | ||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Balance, beginning of period | $ | 1,716 | $ | 2,665 | |||||||||||||||||||||
Provision (recovery) charged to operations | (61 | ) | (245 | ) | |||||||||||||||||||||
Charge-offs | (40 | ) | (237 | ) | |||||||||||||||||||||
Recoveries | 179 | 9 | |||||||||||||||||||||||
Net (charge-offs)/recoveries | 139 | (228 | ) | ||||||||||||||||||||||
Balance at end of period | $ | 1,794 | $ | 2,192 | |||||||||||||||||||||
Non-Commercial | Three Months Ended | ||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Balance, beginning of period | $ | 2,022 | $ | 2,430 | |||||||||||||||||||||
Provision (recovery) charged to operations | (1 | ) | (179 | ) | |||||||||||||||||||||
Charge-offs | (117 | ) | (269 | ) | |||||||||||||||||||||
Recoveries | 31 | 24 | |||||||||||||||||||||||
Net (charge-offs)/recoveries | (86 | ) | (245 | ) | |||||||||||||||||||||
Balance at end of period | $ | 1,935 | $ | 2,006 | |||||||||||||||||||||
Final | Three Months Ended | ||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Balance, beginning of period | $ | 3,738 | $ | 5,095 | |||||||||||||||||||||
Provision (recovery) charged to operations | (424 | ) | (62 | ) | |||||||||||||||||||||
Charge-offs | (157 | ) | (506 | ) | |||||||||||||||||||||
Recoveries | 210 | 33 | |||||||||||||||||||||||
Net (charge-offs)/recoveries | 53 | (473 | ) | ||||||||||||||||||||||
Balance at end of period | $ | 3,729 | $ | 4,198 | |||||||||||||||||||||
The following table shows period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Individually Evaluated | Collectively Evaluated | Total | |||||||||||||||||||||||
Reserve | Loans | Reserve | Loans | Reserve | Loans | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 162 | $ | 2,271 | $ | 1,632 | $ | 160,239 | $ | 1,794 | $ | 162,510 | |||||||||||||
Non-Commercial | 240 | 5,686 | 1,695 | 140,437 | 1,935 | 146,123 | |||||||||||||||||||
Total | $ | 402 | $ | 7,957 | $ | 3,327 | $ | 300,676 | $ | 3,729 | $ | 308,633 | |||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Individually Evaluated | Collectively Evaluated | Total | |||||||||||||||||||||||
Reserve | Loans | Reserve | Loans | Reserve | Loans | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 179 | $ | 2,125 | $ | 1,537 | $ | 160,172 | $ | 1,716 | $ | 162,297 | |||||||||||||
Non-Commercial | 277 | 5,436 | 1,745 | 143,120 | 2,022 | 148,556 | |||||||||||||||||||
Total | $ | 456 | $ | 7,561 | $ | 3,282 | $ | 303,292 | $ | 3,738 | $ | 310,853 | |||||||||||||
Past due loan information is used by management when assessing the adequacy of the allowance for loan losses. The following table summarizes the past due information of the loan portfolio by class: | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Loans | Loans | Total Past | Current | Total | Accruing | ||||||||||||||||||||
30-89 Days | 90 Days | Due Loans | Loans | Loans | Loans 90 or | ||||||||||||||||||||
Past Due | or More | More Days | |||||||||||||||||||||||
Past due | Past Due | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | 46,916 | $ | 46,916 | $ | — | |||||||||||||
Real estate — commercial | 125 | 1,067 | 1,192 | 91,711 | 92,903 | — | |||||||||||||||||||
Other real estate construction | 25 | 227 | 252 | 22,439 | 22,691 | — | |||||||||||||||||||
Real estate 1 — 4 family construction | — | — | — | 4,094 | 4,094 | — | |||||||||||||||||||
Real estate — residential | 2,123 | 1,403 | 3,526 | 83,396 | 86,922 | — | |||||||||||||||||||
Home equity | 50 | 54 | 104 | 46,503 | 46,607 | — | |||||||||||||||||||
Consumer loans | 21 | — | 21 | 8,083 | 8,104 | — | |||||||||||||||||||
Other loans | — | — | — | 396 | 396 | — | |||||||||||||||||||
Total | $ | 2,344 | $ | 2,751 | $ | 5,095 | $ | 303,538 | $ | 308,633 | $ | — | |||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Loans | Loans | Total Past | Current | Total | Accruing | ||||||||||||||||||||
30-89 Days | 90 Days | Due Loans | Loans | Loans | Loans 90 or | ||||||||||||||||||||
Past Due | or More | More Days | |||||||||||||||||||||||
Past due | Past Due | ||||||||||||||||||||||||
and Non- | |||||||||||||||||||||||||
Accrual | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 42 | $ | — | $ | 42 | $ | 47,376 | $ | 47,418 | $ | — | |||||||||||||
Real estate — commercial | 77 | 794 | 871 | 91,646 | 92,517 | — | |||||||||||||||||||
Other real estate construction | — | 342 | 342 | 22,020 | 22,362 | — | |||||||||||||||||||
Real estate construction | — | — | — | 3,888 | 3,888 | — | |||||||||||||||||||
Real estate — residential | 1,673 | 1,097 | 2,770 | 86,597 | 89,367 | — | |||||||||||||||||||
Home equity | 89 | 13 | 102 | 46,258 | 46,360 | — | |||||||||||||||||||
Consumer loan | 123 | — | 123 | 8,337 | 8,460 | — | |||||||||||||||||||
Other loans | — | — | — | 481 | 481 | — | |||||||||||||||||||
Total | $ | 2,004 | $ | 2,246 | $ | 4,250 | $ | 306,603 | $ | 310,853 | $ | — | |||||||||||||
Once a loan becomes 90 days past due, the loan is automatically transferred to a nonaccrual status. The exception to this policy is credit card loans that remain in accruing 90 days or more until they are paid current or charged off. Also, mortgage loans that were originated for sale but were not sold and are being held in the loan portfolio remain in an accruing status until they are foreclosed. | |||||||||||||||||||||||||
The composition of nonaccrual loans by class as of March 31, 2015 and December 31, 2014 is as follows: | |||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | — | $ | — | |||||||||||||||||||||
Real estate — commercial | 1,067 | 794 | |||||||||||||||||||||||
Other real estate construction | 227 | 342 | |||||||||||||||||||||||
Real estate 1 — 4 family construction | — | — | |||||||||||||||||||||||
Real estate — residential | 1,403 | 1,097 | |||||||||||||||||||||||
Home equity | 54 | 13 | |||||||||||||||||||||||
Consumer loans | — | — | |||||||||||||||||||||||
Other loans | — | — | |||||||||||||||||||||||
$ | 2,751 | $ | 2,246 | ||||||||||||||||||||||
Management uses a risk-grading program to facilitate the evaluation of probable inherent loan losses and to measure the adequacy of the allowance for loan losses. In this program, risk grades are initially assigned by the loan officers and reviewed and monitored by the lenders and credit administration. The program has eight risk grades summarized in five categories as follows: | |||||||||||||||||||||||||
Pass: Loans that are pass grade credits include loans that are fundamentally sound and risk factors are reasonable and acceptable. They generally conform to policy with only minor exceptions and any major exceptions are clearly mitigated by other economic factors. | |||||||||||||||||||||||||
Watch: Loans that are watch credits include loans on management’s watch list where a risk concern may be anticipated in the near future. | |||||||||||||||||||||||||
Substandard: Loans that are considered substandard are loans that are inadequately protected by current sound net worth, paying capacity of the obligor or the value of the collateral pledged. All nonaccrual loans are graded as substandard. | |||||||||||||||||||||||||
Doubtful: Loans that are considered to be doubtful have all weaknesses inherent in loans classified substandard, plus the added characteristic that the weaknesses make the collection or liquidation in full on the basis of current existing facts, conditions and values highly questionable and improbable. | |||||||||||||||||||||||||
Loss: Loans that are considered to be a loss are considered to be uncollectible and of such little value that their continuance as bankable assets is not warranted. | |||||||||||||||||||||||||
The tables below summarize risk grades of the loan portfolio by class at March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Pass | Watch | Sub- | Doubtful | Total | |||||||||||||||||||||
standard | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 46,278 | $ | 583 | $ | 55 | $ | — | $ | 46,916 | |||||||||||||||
Real estate — commercial | 83,816 | 4,852 | 4,235 | — | 92,903 | ||||||||||||||||||||
Other real estate construction | 20,093 | 2,022 | 576 | — | 22,691 | ||||||||||||||||||||
Real estate 1 — 4 family construction | 4,094 | — | — | — | 4,094 | ||||||||||||||||||||
Real estate — residential | 73,700 | 9,518 | 3,704 | — | 86,922 | ||||||||||||||||||||
Home equity | 44,940 | 1,523 | 144 | — | 46,607 | ||||||||||||||||||||
Consumer loans | 7,902 | 195 | 7 | — | 8,104 | ||||||||||||||||||||
Other loans | 396 | — | — | — | 396 | ||||||||||||||||||||
Total | $ | 281,219 | $ | 18,693 | $ | 8,721 | $ | — | $ | 308,633 | |||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Pass | Watch | Sub- | Doubtful | Total | |||||||||||||||||||||
standard | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 46,734 | $ | 614 | $ | 70 | $ | — | $ | 47,418 | |||||||||||||||
Real estate — commercial | 82,846 | 5,513 | 4,158 | — | 92,517 | ||||||||||||||||||||
Other real estate construction | 19,724 | 1,925 | 713 | — | 22,362 | ||||||||||||||||||||
Real estate 1 — 4 family construction | 3,888 | — | — | — | 3,888 | ||||||||||||||||||||
Real estate — residential | 75,859 | 10,090 | 3,418 | — | 89,367 | ||||||||||||||||||||
Home equity | 44,799 | 1,458 | 103 | — | 46,360 | ||||||||||||||||||||
Consumer loans | 8,175 | 277 | 8 | — | 8,460 | ||||||||||||||||||||
Other loans | 481 | — | — | — | 481 | ||||||||||||||||||||
Total | $ | 282,506 | $ | 19,877 | $ | 8,470 | $ | — | $ | 310,853 | |||||||||||||||
Loans that are in nonaccrual status or 90 days past due and still accruing are considered to be nonperforming. At both March 31, 2015 and December 31, 2014 there were no loans 90 days past due and still accruing. The following tables show the breakdown between performing and nonperforming loans by class at March 31, 2015 and December 31, 2014: | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Performing | Non- | Total | |||||||||||||||||||||||
Performing | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 46,916 | $ | — | $ | 46,916 | |||||||||||||||||||
Real estate — commercial | 91,836 | 1,067 | 92,903 | ||||||||||||||||||||||
Other real estate construction | 22,464 | 227 | 22,691 | ||||||||||||||||||||||
Real estate 1 — 4 family construction | 4,094 | — | 4,094 | ||||||||||||||||||||||
Real estate — residential | 85,519 | 1,403 | 86,922 | ||||||||||||||||||||||
Home equity | 46,553 | 54 | 46,607 | ||||||||||||||||||||||
Consumer loans | 8,104 | — | 8,104 | ||||||||||||||||||||||
Other loans | 396 | — | 396 | ||||||||||||||||||||||
Total | $ | 305,882 | $ | 2,751 | $ | 308,633 | |||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Performing | Non- | Total | |||||||||||||||||||||||
Performing | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 47,418 | $ | — | $ | 47,418 | |||||||||||||||||||
Real estate — commercial | 91,723 | 794 | 92,517 | ||||||||||||||||||||||
Other real estate construction | 22,020 | 342 | 22,362 | ||||||||||||||||||||||
Real estate 1 — 4 family construction | 3,888 | — | 3,888 | ||||||||||||||||||||||
Real estate — residential | 88,270 | 1,097 | 89,367 | ||||||||||||||||||||||
Home equity | 46,347 | 13 | 46,360 | ||||||||||||||||||||||
Consumer loans | 8,460 | — | 8,460 | ||||||||||||||||||||||
Other loans | 481 | — | 481 | ||||||||||||||||||||||
Total | $ | 308,607 | $ | 2,246 | $ | 310,853 | |||||||||||||||||||
Loans are considered impaired when, based on current information and events it is probable the Company will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement. If a loan is deemed impaired, a specific calculation is performed and a specific reserve is allocated, if necessary. The tables below summarize the loans deemed impaired and the amount of specific reserves allocated by class at March, 31, 2015 and December 31, 2014. | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Related | ||||||||||||||||||||||
Principal | Investment | Investment | Allowance | ||||||||||||||||||||||
Balance | With No | With | |||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 60 | $ | 60 | $ | — | $ | 158 | |||||||||||||||||
Real estate — commercial | 2,119 | 1,529 | 401 | 4 | |||||||||||||||||||||
Other real estate construction | 819 | 228 | 53 | 1 | |||||||||||||||||||||
Real estate 1 — 4 family construction | 18 | — | 18 | 239 | |||||||||||||||||||||
Real estate — residential | 5,570 | 2,351 | 3,219 | — | |||||||||||||||||||||
Home equity | 71 | 71 | — | — | |||||||||||||||||||||
Consumer loans | 27 | 27 | — | — | |||||||||||||||||||||
Other loans | — | — | — | — | |||||||||||||||||||||
Total | $ | 8,684 | $ | 4,266 | $ | 3,691 | $ | 402 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Related | ||||||||||||||||||||||
Principal | Investment | Investment | Allowance | ||||||||||||||||||||||
Balance | With No | With | |||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 98 | $ | 68 | $ | 30 | $ | 30 | |||||||||||||||||
Real estate — commercial | 1,820 | 1,242 | 389 | 145 | |||||||||||||||||||||
Other real estate construction | 934 | 342 | 54 | 4 | |||||||||||||||||||||
Real estate 1 — 4 family construction | 20 | — | 20 | 1 | |||||||||||||||||||||
Real estate — residential | 5,298 | 1,865 | 3,433 | 257 | |||||||||||||||||||||
Home equity | 49 | 30 | 19 | 19 | |||||||||||||||||||||
Consumer loans | 69 | 29 | 40 | — | |||||||||||||||||||||
Other loans | — | — | — | — | |||||||||||||||||||||
Total | $ | 8,288 | $ | 3,576 | $ | 3,985 | $ | 456 | |||||||||||||||||
Three Months ended | Three Months ended | ||||||||||||||||||||||||
March 31, 2015 | March 31, 2014 | ||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 79 | $ | 1 | $ | 271 | $ | 2 | |||||||||||||||||
Real estate — commercial | 1,780 | 16 | 5,882 | 54 | |||||||||||||||||||||
Other real estate construction | 339 | 1 | 1,953 | 3 | |||||||||||||||||||||
Real estate 1 — 4 family construction | 19 | — | 373 | 5 | |||||||||||||||||||||
Real estate — residential | 5,434 | 51 | 7,675 | 78 | |||||||||||||||||||||
Home equity | 60 | 1 | 298 | 2 | |||||||||||||||||||||
Consumer loans | 48 | — | 112 | 2 | |||||||||||||||||||||
Other loans | — | — | — | — | |||||||||||||||||||||
Total | $ | 7,759 | $ | 70 | $ | 16,564 | $ | 146 | |||||||||||||||||
Troubled_Debt_Restructures
Troubled Debt Restructures | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||
Troubled Debt Restructures | Note 8 — Troubled Debt Restructures | ||||||||||||||||||||||||||||||||
A modification of a loan constitutes a troubled debt restructuring (“TDR”) when a borrower is experiencing financial difficulty and the modification involves providing a concession to the existing loan contract. The Company offers various types of concessions when modifying loans to troubled borrowers, however, forgiveness of principal is rarely granted. Concessions offered are term extensions, capitalizing accrued interest, reducing interest rates to below current market rates or a combination of any of these. Combinations from time to time may include allowing a customer to be placed on interest-only payments. The presentations below in the “other” category are TDR’s with a combination of concessions. At the time of a TDR, additional collateral or a guarantor may be requested. | |||||||||||||||||||||||||||||||||
Loans modified as TDRs are typically already on nonaccrual status and in some cases, partial chargeoffs may have already been taken against the outstanding loan balance. The Company classifies TDR loans as impaired loans and evaluates the need for an allowance for loan loss on a loan-by-loan basis. An allowance is based on either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the estimated fair value of the underlying collateral less any selling costs, if the loan is deemed to be collateral dependent. | |||||||||||||||||||||||||||||||||
At March 31, 2015, the Company had $5.2 million in TDR’s outstanding, of which all were on an accruing basis with the exception of one loan for $261,000. | |||||||||||||||||||||||||||||||||
For the three months ended March 31, 2015 and 2014, the following table presents a breakdown of the types of concessions made by loan class: | |||||||||||||||||||||||||||||||||
For the three months ended March 31, 2015 | |||||||||||||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
of Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||
Commercial | — | $ | — | $ | — | ||||||||||||||||||||||||||||
Real estate — commercial | — | — | — | ||||||||||||||||||||||||||||||
Other real estate construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate 1 — 4 family construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate — residential | 2 | 188 | 183 | ||||||||||||||||||||||||||||||
Home equity | — | — | — | ||||||||||||||||||||||||||||||
Consumer loans | — | — | — | ||||||||||||||||||||||||||||||
Other loans | — | — | — | ||||||||||||||||||||||||||||||
Total | 2 | $ | 188 | $ | 183 | ||||||||||||||||||||||||||||
For the three months ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
of Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||||||||||
Extend payment terms: | |||||||||||||||||||||||||||||||||
Commercial | — | $ | — | $ | — | ||||||||||||||||||||||||||||
Real estate — commercial | — | — | — | ||||||||||||||||||||||||||||||
Other real estate construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate 1 — 4 family construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate — residential | — | — | — | ||||||||||||||||||||||||||||||
Home equity | — | — | — | ||||||||||||||||||||||||||||||
Consumer loans | 1 | 39 | 34 | ||||||||||||||||||||||||||||||
Other loans | — | — | — | ||||||||||||||||||||||||||||||
1 | $ | 39 | $ | 34 | |||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||
Commercial | — | $ | — | $ | — | ||||||||||||||||||||||||||||
Real estate — commercial | 1 | 344 | 269 | ||||||||||||||||||||||||||||||
Other real estate construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate 1 — 4 family construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate — residential | 9 | 1,287 | 1,253 | ||||||||||||||||||||||||||||||
Home equity | — | — | — | ||||||||||||||||||||||||||||||
Consumer loans | — | — | — | ||||||||||||||||||||||||||||||
Other loans | — | — | — | ||||||||||||||||||||||||||||||
10 | $ | 1,631 | $ | 1,522 | |||||||||||||||||||||||||||||
Total | 11 | $ | 1,670 | $ | 1,556 | ||||||||||||||||||||||||||||
During the twelve months ended March 31, 2015 and March 31, 2014, there were no TDRs for which there was a payment default. | |||||||||||||||||||||||||||||||||
A default on a TDR is defined as being past due 90 days or being out of compliance with the modification agreement. As previously mentioned, the Company considers TDRs to be impaired loans and has $331,000 in the allowance for loan loss as of March 31, 2015, as a direct result of these TDRs. At March 31, 2014, there was $363,000 in the allowance for loan loss related to TDRs. | |||||||||||||||||||||||||||||||||
The following table presents the successes and failures of the types of modifications within the previous twelve months as of March 31, 2015 and 2014: | |||||||||||||||||||||||||||||||||
Paid In Full | Paying as restructured | Converted to nonaccrual | Foreclosure/ Default | ||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||
Loans | Investments | Loans | Investments | Loans | Investments | Loans | Investments | ||||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||
Below market | |||||||||||||||||||||||||||||||||
Interest rate | — | $ | — | — | $ | — | — | $ | — | — | $ | — | |||||||||||||||||||||
Extended payment | |||||||||||||||||||||||||||||||||
Terms | — | — | 1 | 50 | — | — | — | — | |||||||||||||||||||||||||
Forgiveness of Principal | |||||||||||||||||||||||||||||||||
Other | 1 | 116 | 8 | 1,419 | — | — | — | — | |||||||||||||||||||||||||
Total | 1 | $ | 116 | 9 | $ | 1,469 | — | $ | — | — | $ | — | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||||||
Below market | |||||||||||||||||||||||||||||||||
Interest rate | — | $ | — | — | $ | — | — | $ | — | — | $ | — | |||||||||||||||||||||
Extended payment | |||||||||||||||||||||||||||||||||
Terms | — | — | 1 | 34 | — | — | — | — | |||||||||||||||||||||||||
Forgiveness of Principal | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | 10 | 1,522 | — | — | — | — | |||||||||||||||||||||||||
Total | — | $ | — | 11 | $ | 1,556 | — | $ | — | — | $ | — | |||||||||||||||||||||
The Company has not committed to fund any additional disbursements for TDRs. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Commitments and Contingencies | Note 9 — Commitments and Contingencies | ||||
The subsidiary bank is 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, lines of credit and standby letters of credit. These instruments involve elements of credit risk in excess of amounts recognized in the accompanying financial statements. | |||||
The bank’s risk of loss with the unfunded loans and lines of credit or standby letters of credit is represented by the contractual amount of these instruments. The bank uses the same credit policies in making commitments under such instruments as it does for on-balance sheet instruments. The amount of collateral obtained, if any, is based on management’s credit evaluation of the borrower. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Credit card commitments are unsecured. | |||||
At March 31, 2015, outstanding financial instruments whose contract amounts represent credit risk were approximately: | |||||
(dollars in thousands) | |||||
Commitments to extend credit | $ | 81,056 | |||
Credit card commitments | 9,199 | ||||
Standby letters of credit | 3,652 | ||||
Total commitments | $ | 93,907 | |||
Fair_Value_Disclosures
Fair Value Disclosures | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Disclosures | Note 10 — Fair Value Disclosures | ||||||||||||||||
Accounting Standards Codification (ASC) 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 does not require any new fair value measurements, but clarifies and standardizes some divergent practices that have emerged since prior guidance was issued. ASC 820 creates a three-level hierarchy under which individual fair value estimates are to be ranked based on the relative reliability of the inputs used in the valuation. | |||||||||||||||||
ASC 820 defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which those assets or liabilities are sold and considers assumptions that market participants would use when pricing those assets or liabilities. Fair values determined using Level 1 inputs rely on active and observable markets to price identical assets or liabilities. In situations where identical assets and liabilities are not traded in active markets, fair values may be determined based on Level 2 inputs, which exist when observable data exists for similar assets and liabilities. Fair values for assets and liabilities for which identical or similar assets and liabilities are not actively traded in observable markets are based on Level 3 inputs, which are considered to be unobservable. | |||||||||||||||||
Among the Company’s assets and liabilities, investment securities available for sale are reported at their fair values on a recurring basis. Certain other assets are adjusted to their fair value on a nonrecurring basis, including other real estate owned, impaired loans, loans held for sale, which are carried at the lower of cost or market; loan servicing rights, where fair value is determined using similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions; and goodwill, which is periodically tested for impairment. Deposits, short-term borrowings and long-term obligations are not reported at fair value. | |||||||||||||||||
Prices for US Treasury securities are readily available in the active markets in which those securities are traded, and the resulting fair values are shown in the ‘Level 1 input’ column. Prices for government agency securities, mortgage-backed securities and for state, county and municipal securities are obtained for similar securities, and the resulting fair values are shown in the ‘Level 2 input’ column. Prices for all other non-marketable investments are determined based on various assumptions that are not observable. The fair values for these investment securities are shown in the ‘Level 3 input’ column. Non-marketable investment securities, which are carried at their purchase price, include those that may only be redeemed by the issuer. The changes in securities between Level 1 and Level 2 were related to the purchase and sale of several securities and not the transfer of securities. | |||||||||||||||||
The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment by using one of several methods including collateral value, fair value of similar debt or discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the present value of the expected repayments or fair value of collateral exceed the recorded investments in such loans. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company records the impaired loan as nonrecurring Level 2. When an internal assessment of fair value based upon market data issued or management determines the fair value of the underlying collateral is further impaired below the appraised value, the Company records the impaired loan as nonrecurring Level 3. | |||||||||||||||||
Foreclosed assets are adjusted to fair value upon transfer of the loans to other real estate owned. Real estate acquired in settlement of loans is recorded initially at the estimated fair value of the property less estimated selling costs at the date of foreclosure. The initial recorded value may be subsequently reduced by additional allowances, which are charged to earnings if the estimated fair value of the property less estimated selling costs declines below the initial recorded value. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company records the foreclosed asset as nonrecurring Level 2. When an internal assessment of fair value based upon market data issued or management determines the fair value of the underlying collateral is further impaired below the appraised value, the Company records the impaired loan as nonrecurring Level 3. | |||||||||||||||||
Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate, based on secondary market prices. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. These loans are recorded in Level 2 | |||||||||||||||||
Servicing assets are evaluated for impairment based upon the fair value. Fair value is determined based upon discounted cash flows using market-based assumptions. Servicing assets are recorded in Level 3. | |||||||||||||||||
The following table provides fair value information for assets and liabilities measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014: | |||||||||||||||||
March 31, 2015 | |||||||||||||||||
(dollars in thousands) | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Securities available for sale: | |||||||||||||||||
US Treasury | $ | 19,355 | $ | 19,355 | $ | — | $ | — | |||||||||
US Government Agencies | 45,697 | — | 45,697 | — | |||||||||||||
GSE — Mortgage-backed securities and CMO’s | 26,186 | — | 26,186 | — | |||||||||||||
State and political subdivisions | 6,873 | — | 6,873 | — | |||||||||||||
Corporate bonds | 7,419 | — | 7,419 | — | |||||||||||||
Total assets at fair value | $ | 105,530 | $ | 19,355 | $ | 86,175 | $ | — | |||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||
December 31, 2014 | |||||||||||||||||
(dollars in thousands) | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Securities available for sale: | |||||||||||||||||
US Treasury | $ | 19,386 | $ | 19,386 | $ | — | $ | — | |||||||||
US Gov’t | 50,775 | — | 50,775 | — | |||||||||||||
Mortgage-backed securities and CMO’s | 27,572 | — | 27,572 | — | |||||||||||||
State and political subdivisions | 12,080 | — | 12,080 | — | |||||||||||||
Corporate bonds | 3,011 | — | 3,011 | ||||||||||||||
Total assets at fair value | $ | 112,824 | $ | 19,386 | $ | 93,438 | $ | — | |||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||
The Company may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with U.S. GAAP. These include assets that are measured at the lower of cost or market that were recognized at fair value less cost of sell at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below as of March 31, 2015 and December 31, 2014: | |||||||||||||||||
March 31, 2015 | |||||||||||||||||
(dollars in thousands) | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Impaired loans | $ | 4,746 | $ | — | $ | — | $ | 4,746 | |||||||||
Other real estate owned | 3,435 | — | — | 3,435 | |||||||||||||
Total assets at fair value | $ | 8,181 | $ | — | $ | — | $ | 8,181 | |||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||
December 31, 2014 | |||||||||||||||||
(dollars in thousands) | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Impaired loans | $ | 1,854 | $ | — | $ | — | $ | 1,854 | |||||||||
Other real estate owned | 3,290 | — | — | 3,290 | |||||||||||||
Total assets at fair value | $ | 5,144 | $ | — | $ | — | $ | 5,144 | |||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
March 31, 2015 | |||||||||||||||||
Valuation Technique | Unobservable Input | General Range | |||||||||||||||
Nonrecurring measurements: | |||||||||||||||||
Impaired loans | Discounted appraisals and broker price opinions | Expected loss rates | 0 – 25% | ||||||||||||||
OREO | Discounted appraisals | Collateral discounts and Estimated costs to sell | 0 – 10% | ||||||||||||||
December 31, 2014 | |||||||||||||||||
Valuation Technique | Unobservable Input | General Range | |||||||||||||||
Nonrecurring measurements: | |||||||||||||||||
Impaired loans | Discounted appraisals and broker price opinions | Expected loss rates | 0 – 25% | ||||||||||||||
OREO | Discounted appraisals | Collateral discounts and estimated costs to sell | 0 – 10% | ||||||||||||||
At March 31, 2015, impaired loans were being evaluated with discounted expected cash flows and discounted appraisals were being used on collateral dependent loans. |
Fair_Values_of_Financial_Instr
Fair Values of Financial Instruments and Interest Rate Risk | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Fair Values of Financial Instruments and Interest Rate Risk | Note 11 — Fair Values of Financial Instruments and Interest Rate Risk | ||||||||||||||||||||
ASC 825, “Disclosures about Fair Value of Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those that are not measured and reported at fair value on a recurring basis or non-recurring basis. | |||||||||||||||||||||
The fair value estimates presented at March 31, 2015 and December 31, 2014, are based on relevant market information and information about the financial instruments. Fair value estimates are intended to represent the price an asset could be sold at or the price at which a liability could be settled. However, given there is no active market or observable market transactions for many of the Company’s financial instruments, the Company has made estimates of many of these fair values which are subjective in nature, involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimated values. The estimated fair values disclosed in the following table do not represent market values of all assets and liabilities of the Company and should not be interpreted to represent the underlying value of the Company. The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of March 31, 2015 and December 31, 2014: | |||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Value | Fair Value | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 54,032 | $ | 50,826 | $ | 47,605 | $ | 3,221 | $ | — | |||||||||||
Securities available for sale | 105,530 | 105,530 | 19,355 | 86,175 | — | ||||||||||||||||
Securities held to maturity | 11,466 | 11,473 | 2,034 | 9,439 | — | ||||||||||||||||
Loans held for investment, net | 304,904 | 312,876 | — | — | 312,876 | ||||||||||||||||
Loans held for sale | 401 | 401 | — | 401 | — | ||||||||||||||||
Restricted stock | 1,039 | 1,039 | 1,039 | — | — | ||||||||||||||||
Accrued interest receivable | 1,542 | 1,542 | — | — | 1,542 | ||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||
Deposits | $ | 451,851 | $ | 444,567 | $ | — | $ | — | $ | 444,567 | |||||||||||
Short-term borrowings | 4,790 | 4,790 | — | 4,790 | — | ||||||||||||||||
Long-term borrowings | 22 | 22 | — | 22 | — | ||||||||||||||||
Junior subordinated debt | 9,534 | 9,698 | — | — | 9,698 | ||||||||||||||||
Accrued interest payable | 181 | 181 | — | — | 181 | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Value | Fair Value | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 50,791 | $ | 50,826 | $ | 47,605 | $ | 3,221 | $ | — | |||||||||||
Securities available for sale | 112,824 | 112,824 | 19,386 | 93,438 | — | ||||||||||||||||
Securities held to maturity | 5,496 | 5,450 | 2,053 | 3,397 | — | ||||||||||||||||
Loans held for investment, net | 307,115 | 321,295 | — | — | 321,295 | ||||||||||||||||
Loans held for sale | 2,147 | 2,147 | — | 2,147 | — | ||||||||||||||||
Restricted stock | 1,038 | 1,038 | 1,038 | — | — | ||||||||||||||||
Accrued interest receivable | 1,747 | 1,747 | — | — | 1,747 | ||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||
Deposits | $ | 456,435 | $ | 442,655 | $ | — | $ | — | $ | 442,655 | |||||||||||
Short-term borrowings | 4,685 | 4,685 | — | 4,685 | — | ||||||||||||||||
Long-term borrowings | 24 | 24 | — | 24 | — | ||||||||||||||||
Junior subordinated debt | 9,534 | 9,703 | — | — | 9,70 | ||||||||||||||||
Accrued interest payable | 180 | 180 | — | — | 180 | ||||||||||||||||
The following methods and assumptions were used by the Company in estimating the fair value of financial instruments: | |||||||||||||||||||||
• | Cash and cash equivalents — The carrying amount of cash and cash equivalents approximate their fair values due to the short period of time until their expected realization and are recorded in Level 1. | ||||||||||||||||||||
• | Securities available for sale — Securities available for sale are carried at fair value based on quoted and observable market prices and are recorded in Levels 1 and 2. Also see discussion in Note 5. | ||||||||||||||||||||
• | Loans — The fair value of loans is estimated based on discounted expected cash flows using the current interest rates at which similar loans would be made and carried in level 3. Loans held for sale, which represent current mortgage production forward sales not yet delivered, are valued based on secondary market prices. The fair value of loans does not consider the lack of liquidity and uncertainty in the market that would affect the valuation. Loans held for sale are recorded in Level 2. | ||||||||||||||||||||
• | Restricted stock — It is not practicable to determine fair value of restricted stock which is comprised of Federal Home Loan Bank and Federal Reserve Bank stock due to restrictions placed on its transferability and it is presented at its carrying value and is recorded in Level 1 due to the redemption provisions of the Federal Home Loan Bank and the Federal Reserve Bank. | ||||||||||||||||||||
• | Accrued interest receivable and payable — Both accrued interest receivable and payable are recorded in Level 3, as there are not active markets for these. | ||||||||||||||||||||
• | Deposits — The fair value of deposits is estimated based on discounted cash flow analyses using offered market rates and is recorded in Level 3. The fair value of deposits does not consider any customer related intangibles. | ||||||||||||||||||||
• | Borrowings — The fair value disclosed for short-term borrowings, which are composed of overnight borrowings and debt due within one year approximate the carrying value for such debt and is recorded in Level 2. The estimated fair value for long-term borrowings are estimated based on discounted cash flow analyses using offered market rates. Total borrowings are carried in Level 2. Junior Subordinated debt is fair valued based on discounted cash flow analyses and is recorded in Level 3. | ||||||||||||||||||||
At March 31, 2015, the subsidiary bank had outstanding standby letters of credit and commitments to extend credit. These off-balance sheet financial instruments are generally exercisable at the market rate prevailing at the date the underlying transaction will be completed; therefore, they were deemed to have no current fair value. See Note 9. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Note 12 — Recent Accounting Pronouncements |
In February 2015, the FASB issued ASU 2015-02, an update to Topic 810 “Consolidation”. This modifies the consolidation model for reporting organizations under both the variable interest model and the voting interest model. The ASU is generally expected to reduce the number of situations where consolidation is required; however, in certain circumstances, the ASU may result in companies consolidating entities previously unconsolidated. This ASU will require all legal entities to reevaluate previous consolidation conclusions under the revised model and will be effective for periods beginning after December 15, 2015. Early adoption is permitted. A reporting entity may apply the ASU by using a modified retrospective approach (by recording a cumulative-effect adjustment to equity as of the beginning of the year of adoption) or a full retrospective approach (by restating all periods presented). The adoption of this update will not have a significant impact on the Company’s consolidated financial statements. | |
In January 2015, the FASB issued ASU 2015-01, an update to subtopic 225-20 “Income Statement — Extraordinary and Unusual Items”. This update was issued as part of the FASB’s simplification initiative, which aims to reduce unnecessary cost and complexity within U.S. GAAP by issuing ASUs to simplify the guidance while retaining or improving the usefulness of information included in the financial statements. Subtopic 225-20 requires an entity to separately classify, present, and disclose extraordinary events and transactions. In response to feedback received from users and preparers the FASB issued this ASU to eliminate the concept of extraordinary items. The amendments in this ASU are effective for fiscal years (and interim periods within those fiscal years), beginning after December 15, 2015 and may be adopted early. Entities may apply this ASU either prospectively or retrospectively. As recognition and disclosure of extraordinary items have become rare, we do not anticipate a significant impact to financial reporting from implementation of ASU 2015-01. The adoption of this update will not have a significant impact on the Company’s consolidated financial statements | |
In January 2014, the FASB issued ASU 2014-04, an update to ASC 310 “Receivables — Troubled Debt Restructurings by Creditors”. The amendments in this update clarify that if an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The update is effective for reporting periods beginning after December 15, 2014. The Company evaluated this update and it does not have a material impact on the Company’s consolidated financial statements. The Company did have $1.2 million in foreclosed residential real estate and $1.8 million of residential real estate in process of foreclosure. | |
From time to time the FASB issues exposure drafts of proposed statements of financial accounting standards. Such exposure drafts are subject to comment from the public, to revisions by the FASB and to final issuance by the FASB as statements of financial accounting standards. Management considers the effect of the proposed statements on the consolidated financial statements of the Company and monitors the status of changes to and proposed effective dates of exposure drafts. | |
Reclassification | |
Certain amounts in the 2014 financial statements have been reclassified to conform to the 2015 presentation. These reclassifications do not have an impact on net income or shareholders’ equity. |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates |
The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America (“GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. | |
Reclassification | Reclassification |
Certain amounts in the 2014 financial statements have been reclassified to conform to the 2015 presentation. These reclassifications do not have an impact on net income or shareholders’ equity. |
Comprehensive_Income_Tables
Comprehensive Income (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Equity [Abstract] | |||||||||
Accumulated Other Comprehensive Income | The following table presents the changes in accumulated other comprehensive income for the three months ended March 31, 2015 and 2014: | ||||||||
Unrealized holding gains | |||||||||
(losses) on available-for-sale | |||||||||
Securities (net) | |||||||||
Three months | Three months | ||||||||
ended | ended | ||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
(dollars in thousands) | |||||||||
Beginning Balance | $ | 305 | $ | (562 | ) | ||||
Other comprehensive income (loss) before reclassifications, net of $199,000 and $177,000 tax effect, respectively | 355 | 341 | |||||||
Amounts reclassified from accumulated other comprehensive income, net of $87,000 and $8,000 tax effect | (138 | ) | (13 | ) | |||||
net current-period other comprehensive loss | 217 | 328 | |||||||
Ending Balance | $ | 522 | $ | (234 | ) | ||||
Per_Share_Data_Tables
Per Share Data (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Computation of Basic and Dilutive Earnings Per Share | The computation of basic and dilutive earnings per share is summarized below: | ||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
Weighted average number of common shares outstanding | 6,961,338 | 7,506,156 | |||||||
Effect of unreleased ESOP shares | — | (171,730 | ) | ||||||
Adjusted weighted average number of common shares used in computing basic net income per common share | 6,961,338 | 7,334,426 | |||||||
Effect of dilutive stock options | — | — | |||||||
Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per common share | 6,961,338 | 7,334,426 | |||||||
Investment_Securities_Tables
Investment Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||
Carrying Amounts and Fair Values of Securities Available for Sale and Held to Maturity | Carrying amounts and fair values of securities available for sale and held to maturity are summarized below: | ||||||||||||||||||||||||
31-Mar-15 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||||||
U.S. Treasury | $ | 18,972 | $ | 383 | $ | — | $ | 19,355 | |||||||||||||||||
U.S. Government agencies | 45,509 | 274 | 86 | 45,697 | |||||||||||||||||||||
GSE — Mortgage-backed securities and CMO’s | 26,177 | 189 | 180 | 26,186 | |||||||||||||||||||||
State and political subdivisions | 6,634 | 239 | — | 6,873 | |||||||||||||||||||||
Corporate bonds | 7,447 | — | 28 | 7,419 | |||||||||||||||||||||
Total securities available for sale | $ | 104,739 | $ | 1,085 | $ | 294 | $ | 105,530 | |||||||||||||||||
31-Mar-15 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities held to maturity | |||||||||||||||||||||||||
U.S. Government agencies | $ | 2,050 | $ | — | $ | 16 | $ | 2,034 | |||||||||||||||||
State and political subdivisions | 6,024 | 11 | 21 | 6,014 | |||||||||||||||||||||
Corporate bonds | 3,392 | 33 | — | 3,425 | |||||||||||||||||||||
Total securities held to maturity | $ | 11,466 | $ | 44 | $ | 37 | $ | 11,473 | |||||||||||||||||
31-Dec-14 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||||||
U.S. Treasury | $ | 19,030 | $ | 362 | $ | 6 | $ | 19,386 | |||||||||||||||||
U.S. Government agencies | 50,969 | 96 | 290 | 50,775 | |||||||||||||||||||||
GSE — Mortgage-backed securities and CMO’s | 27,748 | 133 | 309 | 27,572 | |||||||||||||||||||||
State and political subdivisions | 11,575 | 505 | — | 12,080 | |||||||||||||||||||||
Corporate bonds | 3,040 | — | 29 | 3,011 | |||||||||||||||||||||
Total securities available for sale | $ | 112,362 | $ | 1,096 | $ | 634 | $ | 112,824 | |||||||||||||||||
31-Dec-14 | Amortized | Gross | Gross | Fair | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities held to maturity | |||||||||||||||||||||||||
U.S. Government agencies | $ | 2,085 | $ | — | $ | 32 | $ | 2,053 | |||||||||||||||||
Corporate bonds | 3,411 | — | 14 | 3,397 | |||||||||||||||||||||
Total securities held to maturity | $ | 5,496 | $ | — | $ | 46 | $ | 5,450 | |||||||||||||||||
Sales and Calls of Securities Available for Sale | Results from sales and calls of securities available for sale for the three month period ended March 31, 2015 and March 31, 2014 are as follows: | ||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Gross proceeds from sales | $ | 5,143 | $ | 328 | |||||||||||||||||||||
Gross realized gains from sales/calls | $ | 225 | $ | 21 | |||||||||||||||||||||
Gross realized losses from sales/calls | — | — | |||||||||||||||||||||||
Net realized gains | $ | 225 | $ | 21 | |||||||||||||||||||||
Gross Unrealized Losses and Fair Value of Investments | At December 31, 2014, the unrealized losses on available for sale securities related to one United States Treasury note, thirteen government agency bonds, eight government sponsored enterprise (GSE) mortgage backed securities and two corporate bonds. At December 31, 2014, the unrealized losses on held to maturity securities related to one government agency security and two corporate bonds. | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
31-Mar-15 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities available for sale temporary impairment U.S. Gov’t agencies | $ | 12,617 | $ | 46 | $ | 5,380 | $ | 40 | $ | 17,997 | $ | 86 | |||||||||||||
GSE-Mortgage-backed securities and CMO’s | 3,474 | 15 | 14,168 | 165 | 17,642 | 180 | |||||||||||||||||||
Corporate bonds | 7,447 | 28 | — | — | 7,447 | 28 | |||||||||||||||||||
Total securities available for sale | $ | 23,538 | $ | 89 | $ | 19,548 | $ | 205 | $ | 43,086 | $ | 294 | |||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
31-Mar-15 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Held to maturity temporary impairment U.S. Gov’t agencies | $ | 2,050 | $ | 16 | $ | — | $ | — | $ | 2,050 | $ | 16 | |||||||||||||
State & political | 5,199 | 21 | — | — | 5,199 | 21 | |||||||||||||||||||
Total securities held to maturity | $ | 7,249 | $ | 37 | $ | — | $ | — | $ | 7,249 | $ | 37 | |||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
31-Dec-14 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities available for sale temporary impairment U.S. Treasury | $ | 3,143 | $ | 6 | $ | — | $ | — | $ | 3,143 | $ | 6 | |||||||||||||
U.S. Gov’t agencies | 9,690 | 23 | 17,776 | 267 | 27,466 | 290 | |||||||||||||||||||
GSE-Mortgage-backed securities and CMO’s | 1,990 | 4 | 14,168 | 305 | 16,158 | 309 | |||||||||||||||||||
Corporate bonds | 3,011 | 29 | — | — | 3,011 | 29 | |||||||||||||||||||
Total securities available for sale | $ | 17,834 | $ | 62 | $ | 31,944 | $ | 572 | $ | 49,778 | $ | 634 | |||||||||||||
Less than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||
31-Dec-14 | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Held to maturity temporary impairment U.S. Gov’t agencies | $ | 2,053 | $ | 32 | $ | — | $ | — | $ | 2,053 | $ | 32 | |||||||||||||
Corporate bonds | 3,397 | 14 | — | — | 3,397 | 14 | |||||||||||||||||||
Total securities held to maturity | $ | 5,450 | $ | 46 | $ | — | $ | — | $ | 5,450 | $ | 46 | |||||||||||||
Amortized Cost and Fair Value of Available for Sale Securities Portfolio | The aggregate amortized cost and fair value of the available for sale securities portfolio at March 31, 2015 by remaining contractual maturity are as follows: | ||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Amortized | Estimated | Book | |||||||||||||||||||||||
Cost | Fair Value | Yield | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||||||
U. S. Treasury | |||||||||||||||||||||||||
Due after one but within five years | 18,972 | 19,355 | 1.86 | % | |||||||||||||||||||||
18,972 | 19,355 | 1.86 | % | ||||||||||||||||||||||
U.S. Government agencies | |||||||||||||||||||||||||
Due after one but within five years | 36,207 | 36,433 | 1.3 | % | |||||||||||||||||||||
Due after five but within ten years | 750 | 754 | 2.23 | % | |||||||||||||||||||||
Due after ten years | 8,552 | 8,510 | 2.27 | % | |||||||||||||||||||||
45,509 | 45,697 | 1.5 | % | ||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||
Due after one but within five years | 3,907 | 3,897 | 1.5 | % | |||||||||||||||||||||
Due after five but within ten years | 2,909 | 2,956 | 2.07 | % | |||||||||||||||||||||
Due after ten years | 19,361 | 19,333 | 2.03 | % | |||||||||||||||||||||
26,177 | 26,186 | 1.96 | % | ||||||||||||||||||||||
State and political subdivisions | |||||||||||||||||||||||||
Due within twelve months | 650 | 664 | 5.46 | % | |||||||||||||||||||||
Due after one but within five years | 1,907 | 2,039 | 4.76 | % | |||||||||||||||||||||
Due after five but within ten years | 1,070 | 1,097 | 6.24 | % | |||||||||||||||||||||
Due after ten years | 3,007 | 3,073 | 4.07 | % | |||||||||||||||||||||
6,634 | 6,873 | 4.76 | % | ||||||||||||||||||||||
Corporate Bonds | |||||||||||||||||||||||||
Due after one but within five years | 4,408 | 4,400 | 1.14 | % | |||||||||||||||||||||
Due after five but within ten years | 3,039 | 3,019 | 1.27 | % | |||||||||||||||||||||
7,447 | 7,419 | 1.2 | % | ||||||||||||||||||||||
Total Securities available for sale | |||||||||||||||||||||||||
Due within twelve months | 650 | 664 | 5.46 | % | |||||||||||||||||||||
Due after one but within five years | 65,401 | 66,124 | 1.56 | % | |||||||||||||||||||||
Due after five but within ten years | 7,768 | 7,826 | 2.35 | % | |||||||||||||||||||||
Due after ten years | 30,920 | 30,916 | 2.3 | % | |||||||||||||||||||||
$ | $ | 105,530 | 1.86 | % | |||||||||||||||||||||
104,739 | |||||||||||||||||||||||||
Amortized Cost and Fair Value of Held to Maturity Securities Portfolio | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Amortized | Estimated | Book | |||||||||||||||||||||||
Cost | Fair Value | Yield | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Securities available for sale | |||||||||||||||||||||||||
U. S. Treasury | |||||||||||||||||||||||||
Due after one but within five years | 18,972 | 19,355 | 1.86 | % | |||||||||||||||||||||
18,972 | 19,355 | 1.86 | % | ||||||||||||||||||||||
U.S. Government agencies | |||||||||||||||||||||||||
Due after one but within five years | 36,207 | 36,433 | 1.3 | % | |||||||||||||||||||||
Due after five but within ten years | 750 | 754 | 2.23 | % | |||||||||||||||||||||
Due after ten years | 8,552 | 8,510 | 2.27 | % | |||||||||||||||||||||
45,509 | 45,697 | 1.5 | % | ||||||||||||||||||||||
Mortgage-backed securities | |||||||||||||||||||||||||
Due after one but within five years | 3,907 | 3,897 | 1.5 | % | |||||||||||||||||||||
Due after five but within ten years | 2,909 | 2,956 | 2.07 | % | |||||||||||||||||||||
Due after ten years | 19,361 | 19,333 | 2.03 | % | |||||||||||||||||||||
26,177 | 26,186 | 1.96 | % | ||||||||||||||||||||||
State and political subdivisions | |||||||||||||||||||||||||
Due within twelve months | 650 | 664 | 5.46 | % | |||||||||||||||||||||
Due after one but within five years | 1,907 | 2,039 | 4.76 | % | |||||||||||||||||||||
Due after five but within ten years | 1,070 | 1,097 | 6.24 | % | |||||||||||||||||||||
Due after ten years | 3,007 | 3,073 | 4.07 | % | |||||||||||||||||||||
6,634 | 6,873 | 4.76 | % | ||||||||||||||||||||||
Corporate Bonds | |||||||||||||||||||||||||
Due after one but within five years | 4,408 | 4,400 | 1.14 | % | |||||||||||||||||||||
Due after five but within ten years | 3,039 | 3,019 | 1.27 | % | |||||||||||||||||||||
7,447 | 7,419 | 1.2 | % | ||||||||||||||||||||||
Total Securities available for sale | |||||||||||||||||||||||||
Due within twelve months | 650 | 664 | 5.46 | % | |||||||||||||||||||||
Due after one but within five years | 65,401 | 66,124 | 1.56 | % | |||||||||||||||||||||
Due after five but within ten years | 7,768 | 7,826 | 2.35 | % | |||||||||||||||||||||
Due after ten years | 30,920 | 30,916 | 2.3 | % | |||||||||||||||||||||
$ | $ | 105,530 | 1.86 | % | |||||||||||||||||||||
104,739 | |||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Amortized | Estimated | Book | |||||||||||||||||||||||
Cost | Fair Value | Yield | |||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Held to maturity | |||||||||||||||||||||||||
U. S. Government agencies | |||||||||||||||||||||||||
Due after one but within five years | 2,050 | 2,034 | 2.23 | % | |||||||||||||||||||||
2,050 | 2,034 | 2.23 | % | ||||||||||||||||||||||
State and political subdivisions | |||||||||||||||||||||||||
Due after five but within ten years | 5,042 | 5,038 | 2.75 | % | |||||||||||||||||||||
Due after ten years | 982 | 976 | 2.58 | % | |||||||||||||||||||||
6,024 | 6,014 | 2.73 | % | ||||||||||||||||||||||
Corporate Bonds | |||||||||||||||||||||||||
Due after one but within five years | 1,686 | 1,702 | 2.73 | % | |||||||||||||||||||||
Due after five but within ten years | 1,706 | 1,723 | 2.79 | % | |||||||||||||||||||||
3,392 | 3,425 | 2.76 | % | ||||||||||||||||||||||
Total Securities held for maturity | |||||||||||||||||||||||||
Due after one but within five years | 1,686 | 1,702 | 2.73 | % | |||||||||||||||||||||
Due after five but within ten years | 8,798 | 8,795 | 2.64 | % | |||||||||||||||||||||
Due after ten years | 982 | 976 | 2.58 | % | |||||||||||||||||||||
$ | 11,466 | $ | 11,473 | 2.65 | % | ||||||||||||||||||||
Loans_Held_for_Investment_Tabl
Loans Held for Investment (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Receivables [Abstract] | |||||||||
Composition of Net Loans Held for Investment by Class | The composition of net loans held for investment by class as of March 31, 2015 and December 31, 2014 are as follows: | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(dollars in thousands) | |||||||||
Commercial | |||||||||
Commercial | $ | 46,916 | $ | 47,418 | |||||
Real estate — commercial | 92,903 | 92,517 | |||||||
Other real estate construction loans | 22,691 | 22,362 | |||||||
Noncommercial | |||||||||
Real estate 1-4 family construction | 4,094 | 3,888 | |||||||
Real estate — residential | 86,932 | 89,374 | |||||||
Home equity | 46,607 | 46,360 | |||||||
Consumer loans | 8,104 | 8,460 | |||||||
Other loans | 396 | 481 | |||||||
308,643 | 310,860 | ||||||||
Less: | |||||||||
Allowance for loan losses | (3,729 | ) | (3,738 | ) | |||||
Deferred loan (fees) costs, net | (10 | ) | (7 | ) | |||||
Loans held for investment, net | $ | 304,904 | $ | 307,115 | |||||
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||
Changes in Allowance for Loan Losses | The following table shows the change in the allowance for loss losses by loan segment for the three month period ended March 31, 2015 and 2014, respectively: | ||||||||||||||||||||||||
Commercial | Three Months Ended | ||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Balance, beginning of period | $ | 1,716 | $ | 2,665 | |||||||||||||||||||||
Provision (recovery) charged to operations | (61 | ) | (245 | ) | |||||||||||||||||||||
Charge-offs | (40 | ) | (237 | ) | |||||||||||||||||||||
Recoveries | 179 | 9 | |||||||||||||||||||||||
Net (charge-offs)/recoveries | 139 | (228 | ) | ||||||||||||||||||||||
Balance at end of period | $ | 1,794 | $ | 2,192 | |||||||||||||||||||||
Non-Commercial | Three Months Ended | ||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Balance, beginning of period | $ | 2,022 | $ | 2,430 | |||||||||||||||||||||
Provision (recovery) charged to operations | (1 | ) | (179 | ) | |||||||||||||||||||||
Charge-offs | (117 | ) | (269 | ) | |||||||||||||||||||||
Recoveries | 31 | 24 | |||||||||||||||||||||||
Net (charge-offs)/recoveries | (86 | ) | (245 | ) | |||||||||||||||||||||
Balance at end of period | $ | 1,935 | $ | 2,006 | |||||||||||||||||||||
Final | Three Months Ended | ||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Balance, beginning of period | $ | 3,738 | $ | 5,095 | |||||||||||||||||||||
Provision (recovery) charged to operations | (424 | ) | (62 | ) | |||||||||||||||||||||
Charge-offs | (157 | ) | (506 | ) | |||||||||||||||||||||
Recoveries | 210 | 33 | |||||||||||||||||||||||
Net (charge-offs)/recoveries | 53 | (473 | ) | ||||||||||||||||||||||
Balance at end of period | $ | 3,729 | $ | 4,198 | |||||||||||||||||||||
Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment | The following table shows period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at March 31, 2015 and December 31, 2014: | ||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Individually Evaluated | Collectively Evaluated | Total | |||||||||||||||||||||||
Reserve | Loans | Reserve | Loans | Reserve | Loans | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 162 | $ | 2,271 | $ | 1,632 | $ | 160,239 | $ | 1,794 | $ | 162,510 | |||||||||||||
Non-Commercial | 240 | 5,686 | 1,695 | 140,437 | 1,935 | 146,123 | |||||||||||||||||||
Total | $ | 402 | $ | 7,957 | $ | 3,327 | $ | 300,676 | $ | 3,729 | $ | 308,633 | |||||||||||||
31-Dec-14 | |||||||||||||||||||||||||
Individually Evaluated | Collectively Evaluated | Total | |||||||||||||||||||||||
Reserve | Loans | Reserve | Loans | Reserve | Loans | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 179 | $ | 2,125 | $ | 1,537 | $ | 160,172 | $ | 1,716 | $ | 162,297 | |||||||||||||
Non-Commercial | 277 | 5,436 | 1,745 | 143,120 | 2,022 | 148,556 | |||||||||||||||||||
Total | $ | 456 | $ | 7,561 | $ | 3,282 | $ | 303,292 | $ | 3,738 | $ | 310,853 | |||||||||||||
Past Due Information of Loan Portfolio by Class | Past due loan information is used by management when assessing the adequacy of the allowance for loan losses. The following table summarizes the past due information of the loan portfolio by class: | ||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Loans | Loans | Total Past | Current | Total | Accruing | ||||||||||||||||||||
30-89 Days | 90 Days | Due Loans | Loans | Loans | Loans 90 or | ||||||||||||||||||||
Past Due | or More | More Days | |||||||||||||||||||||||
Past due | Past Due | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | 46,916 | $ | 46,916 | $ | — | |||||||||||||
Real estate — commercial | 125 | 1,067 | 1,192 | 91,711 | 92,903 | — | |||||||||||||||||||
Other real estate construction | 25 | 227 | 252 | 22,439 | 22,691 | — | |||||||||||||||||||
Real estate 1 — 4 family construction | — | — | — | 4,094 | 4,094 | — | |||||||||||||||||||
Real estate — residential | 2,123 | 1,403 | 3,526 | 83,396 | 86,922 | — | |||||||||||||||||||
Home equity | 50 | 54 | 104 | 46,503 | 46,607 | — | |||||||||||||||||||
Consumer loans | 21 | — | 21 | 8,083 | 8,104 | — | |||||||||||||||||||
Other loans | — | — | — | 396 | 396 | — | |||||||||||||||||||
Total | $ | 2,344 | $ | 2,751 | $ | 5,095 | $ | 303,538 | $ | 308,633 | $ | — | |||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Loans | Loans | Total Past | Current | Total | Accruing | ||||||||||||||||||||
30-89 Days | 90 Days | Due Loans | Loans | Loans | Loans 90 or | ||||||||||||||||||||
Past Due | or More | More Days | |||||||||||||||||||||||
Past due | Past Due | ||||||||||||||||||||||||
and Non- | |||||||||||||||||||||||||
Accrual | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 42 | $ | — | $ | 42 | $ | 47,376 | $ | 47,418 | $ | — | |||||||||||||
Real estate — commercial | 77 | 794 | 871 | 91,646 | 92,517 | — | |||||||||||||||||||
Other real estate construction | — | 342 | 342 | 22,020 | 22,362 | — | |||||||||||||||||||
Real estate construction | — | — | — | 3,888 | 3,888 | — | |||||||||||||||||||
Real estate — residential | 1,673 | 1,097 | 2,770 | 86,597 | 89,367 | — | |||||||||||||||||||
Home equity | 89 | 13 | 102 | 46,258 | 46,360 | — | |||||||||||||||||||
Consumer loan | 123 | — | 123 | 8,337 | 8,460 | — | |||||||||||||||||||
Other loans | — | — | — | 481 | 481 | — | |||||||||||||||||||
Total | $ | 2,004 | $ | 2,246 | $ | 4,250 | $ | 306,603 | $ | 310,853 | $ | — | |||||||||||||
Composition of Nonaccrual Loans by Class | The composition of nonaccrual loans by class as of March 31, 2015 and December 31, 2014 is as follows: | ||||||||||||||||||||||||
March 31, | December 31, | ||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | — | $ | — | |||||||||||||||||||||
Real estate — commercial | 1,067 | 794 | |||||||||||||||||||||||
Other real estate construction | 227 | 342 | |||||||||||||||||||||||
Real estate 1 — 4 family construction | — | — | |||||||||||||||||||||||
Real estate — residential | 1,403 | 1,097 | |||||||||||||||||||||||
Home equity | 54 | 13 | |||||||||||||||||||||||
Consumer loans | — | — | |||||||||||||||||||||||
Other loans | — | — | |||||||||||||||||||||||
$ | 2,751 | $ | 2,246 | ||||||||||||||||||||||
Summary of Risk Grades of Portfolio by Class | The tables below summarize risk grades of the loan portfolio by class at March 31, 2015 and December 31, 2014: | ||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Pass | Watch | Sub- | Doubtful | Total | |||||||||||||||||||||
standard | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 46,278 | $ | 583 | $ | 55 | $ | — | $ | 46,916 | |||||||||||||||
Real estate — commercial | 83,816 | 4,852 | 4,235 | — | 92,903 | ||||||||||||||||||||
Other real estate construction | 20,093 | 2,022 | 576 | — | 22,691 | ||||||||||||||||||||
Real estate 1 — 4 family construction | 4,094 | — | — | — | 4,094 | ||||||||||||||||||||
Real estate — residential | 73,700 | 9,518 | 3,704 | — | 86,922 | ||||||||||||||||||||
Home equity | 44,940 | 1,523 | 144 | — | 46,607 | ||||||||||||||||||||
Consumer loans | 7,902 | 195 | 7 | — | 8,104 | ||||||||||||||||||||
Other loans | 396 | — | — | — | 396 | ||||||||||||||||||||
Total | $ | 281,219 | $ | 18,693 | $ | 8,721 | $ | — | $ | 308,633 | |||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Pass | Watch | Sub- | Doubtful | Total | |||||||||||||||||||||
standard | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 46,734 | $ | 614 | $ | 70 | $ | — | $ | 47,418 | |||||||||||||||
Real estate — commercial | 82,846 | 5,513 | 4,158 | — | 92,517 | ||||||||||||||||||||
Other real estate construction | 19,724 | 1,925 | 713 | — | 22,362 | ||||||||||||||||||||
Real estate 1 — 4 family construction | 3,888 | — | — | — | 3,888 | ||||||||||||||||||||
Real estate — residential | 75,859 | 10,090 | 3,418 | — | 89,367 | ||||||||||||||||||||
Home equity | 44,799 | 1,458 | 103 | — | 46,360 | ||||||||||||||||||||
Consumer loans | 8,175 | 277 | 8 | — | 8,460 | ||||||||||||||||||||
Other loans | 481 | — | — | — | 481 | ||||||||||||||||||||
Total | $ | 282,506 | $ | 19,877 | $ | 8,470 | $ | — | $ | 310,853 | |||||||||||||||
Summary of Performing and Nonperforming Loans by Class | The following tables show the breakdown between performing and nonperforming loans by class at March 31, 2015 and December 31, 2014: | ||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Performing | Non- | Total | |||||||||||||||||||||||
Performing | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 46,916 | $ | — | $ | 46,916 | |||||||||||||||||||
Real estate — commercial | 91,836 | 1,067 | 92,903 | ||||||||||||||||||||||
Other real estate construction | 22,464 | 227 | 22,691 | ||||||||||||||||||||||
Real estate 1 — 4 family construction | 4,094 | — | 4,094 | ||||||||||||||||||||||
Real estate — residential | 85,519 | 1,403 | 86,922 | ||||||||||||||||||||||
Home equity | 46,553 | 54 | 46,607 | ||||||||||||||||||||||
Consumer loans | 8,104 | — | 8,104 | ||||||||||||||||||||||
Other loans | 396 | — | 396 | ||||||||||||||||||||||
Total | $ | 305,882 | $ | 2,751 | $ | 308,633 | |||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Performing | Non- | Total | |||||||||||||||||||||||
Performing | |||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 47,418 | $ | — | $ | 47,418 | |||||||||||||||||||
Real estate — commercial | 91,723 | 794 | 92,517 | ||||||||||||||||||||||
Other real estate construction | 22,020 | 342 | 22,362 | ||||||||||||||||||||||
Real estate 1 — 4 family construction | 3,888 | — | 3,888 | ||||||||||||||||||||||
Real estate — residential | 88,270 | 1,097 | 89,367 | ||||||||||||||||||||||
Home equity | 46,347 | 13 | 46,360 | ||||||||||||||||||||||
Consumer loans | 8,460 | — | 8,460 | ||||||||||||||||||||||
Other loans | 481 | — | 481 | ||||||||||||||||||||||
Total | $ | 308,607 | $ | 2,246 | $ | 310,853 | |||||||||||||||||||
Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class | The tables below summarize the loans deemed impaired and the amount of specific reserves allocated by class at March, 31, 2015 and December 31, 2014. | ||||||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Related | ||||||||||||||||||||||
Principal | Investment | Investment | Allowance | ||||||||||||||||||||||
Balance | With No | With | |||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 60 | $ | 60 | $ | — | $ | 158 | |||||||||||||||||
Real estate — commercial | 2,119 | 1,529 | 401 | 4 | |||||||||||||||||||||
Other real estate construction | 819 | 228 | 53 | 1 | |||||||||||||||||||||
Real estate 1 — 4 family construction | 18 | — | 18 | 239 | |||||||||||||||||||||
Real estate — residential | 5,570 | 2,351 | 3,219 | — | |||||||||||||||||||||
Home equity | 71 | 71 | — | — | |||||||||||||||||||||
Consumer loans | 27 | 27 | — | — | |||||||||||||||||||||
Other loans | — | — | — | — | |||||||||||||||||||||
Total | $ | 8,684 | $ | 4,266 | $ | 3,691 | $ | 402 | |||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Related | ||||||||||||||||||||||
Principal | Investment | Investment | Allowance | ||||||||||||||||||||||
Balance | With No | With | |||||||||||||||||||||||
Allowance | Allowance | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 98 | $ | 68 | $ | 30 | $ | 30 | |||||||||||||||||
Real estate — commercial | 1,820 | 1,242 | 389 | 145 | |||||||||||||||||||||
Other real estate construction | 934 | 342 | 54 | 4 | |||||||||||||||||||||
Real estate 1 — 4 family construction | 20 | — | 20 | 1 | |||||||||||||||||||||
Real estate — residential | 5,298 | 1,865 | 3,433 | 257 | |||||||||||||||||||||
Home equity | 49 | 30 | 19 | 19 | |||||||||||||||||||||
Consumer loans | 69 | 29 | 40 | — | |||||||||||||||||||||
Other loans | — | — | — | — | |||||||||||||||||||||
Total | $ | 8,288 | $ | 3,576 | $ | 3,985 | $ | 456 | |||||||||||||||||
Three Months ended | Three Months ended | ||||||||||||||||||||||||
March 31, 2015 | March 31, 2014 | ||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||
Commercial | $ | 79 | $ | 1 | $ | 271 | $ | 2 | |||||||||||||||||
Real estate — commercial | 1,780 | 16 | 5,882 | 54 | |||||||||||||||||||||
Other real estate construction | 339 | 1 | 1,953 | 3 | |||||||||||||||||||||
Real estate 1 — 4 family construction | 19 | — | 373 | 5 | |||||||||||||||||||||
Real estate — residential | 5,434 | 51 | 7,675 | 78 | |||||||||||||||||||||
Home equity | 60 | 1 | 298 | 2 | |||||||||||||||||||||
Consumer loans | 48 | — | 112 | 2 | |||||||||||||||||||||
Other loans | — | — | — | — | |||||||||||||||||||||
Total | $ | 7,759 | $ | 70 | $ | 16,564 | $ | 146 | |||||||||||||||||
Troubled_Debt_Restructures_Tab
Troubled Debt Restructures (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||
Breakdown of Types of Concessions Made by Loan Class | For the three months ended March 31, 2015 and 2014, the following table presents a breakdown of the types of concessions made by loan class: | ||||||||||||||||||||||||||||||||
For the three months ended March 31, 2015 | |||||||||||||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
of Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||
Commercial | — | $ | — | $ | — | ||||||||||||||||||||||||||||
Real estate — commercial | — | — | — | ||||||||||||||||||||||||||||||
Other real estate construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate 1 — 4 family construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate — residential | 2 | 188 | 183 | ||||||||||||||||||||||||||||||
Home equity | — | — | — | ||||||||||||||||||||||||||||||
Consumer loans | — | — | — | ||||||||||||||||||||||||||||||
Other loans | — | — | — | ||||||||||||||||||||||||||||||
Total | 2 | $ | 188 | $ | 183 | ||||||||||||||||||||||||||||
For the three months ended March 31, 2014 | |||||||||||||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||
of Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||||||||||
Extend payment terms: | |||||||||||||||||||||||||||||||||
Commercial | — | $ | — | $ | — | ||||||||||||||||||||||||||||
Real estate — commercial | — | — | — | ||||||||||||||||||||||||||||||
Other real estate construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate 1 — 4 family construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate — residential | — | — | — | ||||||||||||||||||||||||||||||
Home equity | — | — | — | ||||||||||||||||||||||||||||||
Consumer loans | 1 | 39 | 34 | ||||||||||||||||||||||||||||||
Other loans | — | — | — | ||||||||||||||||||||||||||||||
1 | $ | 39 | $ | 34 | |||||||||||||||||||||||||||||
Other: | |||||||||||||||||||||||||||||||||
Commercial | — | $ | — | $ | — | ||||||||||||||||||||||||||||
Real estate — commercial | 1 | 344 | 269 | ||||||||||||||||||||||||||||||
Other real estate construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate 1 — 4 family construction | — | — | — | ||||||||||||||||||||||||||||||
Real estate — residential | 9 | 1,287 | 1,253 | ||||||||||||||||||||||||||||||
Home equity | — | — | — | ||||||||||||||||||||||||||||||
Consumer loans | — | — | — | ||||||||||||||||||||||||||||||
Other loans | — | — | — | ||||||||||||||||||||||||||||||
10 | $ | 1,631 | $ | 1,522 | |||||||||||||||||||||||||||||
Total | 11 | $ | 1,670 | $ | 1,556 | ||||||||||||||||||||||||||||
Schedule of Successes and Failures of Types of Debt Restructuring | The following table presents the successes and failures of the types of modifications within the previous twelve months as of March 31, 2015 and 2014: | ||||||||||||||||||||||||||||||||
Paid In Full | Paying as restructured | Converted to nonaccrual | Foreclosure/ Default | ||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||||||||
Loans | Investments | Loans | Investments | Loans | Investments | Loans | Investments | ||||||||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||||||||||||||
31-Mar-15 | |||||||||||||||||||||||||||||||||
Below market | |||||||||||||||||||||||||||||||||
Interest rate | — | $ | — | — | $ | — | — | $ | — | — | $ | — | |||||||||||||||||||||
Extended payment | |||||||||||||||||||||||||||||||||
Terms | — | — | 1 | 50 | — | — | — | — | |||||||||||||||||||||||||
Forgiveness of Principal | |||||||||||||||||||||||||||||||||
Other | 1 | 116 | 8 | 1,419 | — | — | — | — | |||||||||||||||||||||||||
Total | 1 | $ | 116 | 9 | $ | 1,469 | — | $ | — | — | $ | — | |||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||||||
Below market | |||||||||||||||||||||||||||||||||
Interest rate | — | $ | — | — | $ | — | — | $ | — | — | $ | — | |||||||||||||||||||||
Extended payment | |||||||||||||||||||||||||||||||||
Terms | — | — | 1 | 34 | — | — | — | — | |||||||||||||||||||||||||
Forgiveness of Principal | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||
Other | — | — | 10 | 1,522 | — | — | — | — | |||||||||||||||||||||||||
Total | — | $ | — | 11 | $ | 1,556 | — | $ | — | — | $ | — | |||||||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk | At March 31, 2015, outstanding financial instruments whose contract amounts represent credit risk were approximately: | ||||
(dollars in thousands) | |||||
Commitments to extend credit | $ | 81,056 | |||
Credit card commitments | 9,199 | ||||
Standby letters of credit | 3,652 | ||||
Total commitments | $ | 93,907 | |||
Fair_Value_Disclosures_Tables
Fair Value Disclosures (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Information for Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table provides fair value information for assets and liabilities measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014: | ||||||||||||||||
March 31, 2015 | |||||||||||||||||
(dollars in thousands) | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Securities available for sale: | |||||||||||||||||
US Treasury | $ | 19,355 | $ | 19,355 | $ | — | $ | — | |||||||||
US Government Agencies | 45,697 | — | 45,697 | — | |||||||||||||
GSE — Mortgage-backed securities and CMO’s | 26,186 | — | 26,186 | — | |||||||||||||
State and political subdivisions | 6,873 | — | 6,873 | — | |||||||||||||
Corporate bonds | 7,419 | — | 7,419 | — | |||||||||||||
Total assets at fair value | $ | 105,530 | $ | 19,355 | $ | 86,175 | $ | — | |||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||
December 31, 2014 | |||||||||||||||||
(dollars in thousands) | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Securities available for sale: | |||||||||||||||||
US Treasury | $ | 19,386 | $ | 19,386 | $ | — | $ | — | |||||||||
US Gov’t | 50,775 | — | 50,775 | — | |||||||||||||
Mortgage-backed securities and CMO’s | 27,572 | — | 27,572 | — | |||||||||||||
State and political subdivisions | 12,080 | — | 12,080 | — | |||||||||||||
Corporate bonds | 3,011 | — | 3,011 | ||||||||||||||
Total assets at fair value | $ | 112,824 | $ | 19,386 | $ | 93,438 | $ | — | |||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||
Assets Measured at Fair Value on Nonrecurring Basis | Assets measured at fair value on a nonrecurring basis are included in the table below as of March 31, 2015 and December 31, 2014: | ||||||||||||||||
March 31, 2015 | |||||||||||||||||
(dollars in thousands) | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Impaired loans | $ | 4,746 | $ | — | $ | — | $ | 4,746 | |||||||||
Other real estate owned | 3,435 | — | — | 3,435 | |||||||||||||
Total assets at fair value | $ | 8,181 | $ | — | $ | — | $ | 8,181 | |||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||
December 31, 2014 | |||||||||||||||||
(dollars in thousands) | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Impaired loans | $ | 1,854 | $ | — | $ | — | $ | 1,854 | |||||||||
Other real estate owned | 3,290 | — | — | 3,290 | |||||||||||||
Total assets at fair value | $ | 5,144 | $ | — | $ | — | $ | 5,144 | |||||||||
Total liabilities at fair value | $ | — | $ | — | $ | — | $ | — | |||||||||
Quantitative Information about Level 3 Fair Value Measurements | Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||||
March 31, 2015 | |||||||||||||||||
Valuation Technique | Unobservable Input | General Range | |||||||||||||||
Nonrecurring measurements: | |||||||||||||||||
Impaired loans | Discounted appraisals and broker price opinions | Expected loss rates | 0 – 25% | ||||||||||||||
OREO | Discounted appraisals | Collateral discounts and Estimated costs to sell | 0 – 10% | ||||||||||||||
December 31, 2014 | |||||||||||||||||
Valuation Technique | Unobservable Input | General Range | |||||||||||||||
Nonrecurring measurements: | |||||||||||||||||
Impaired loans | Discounted appraisals and broker price opinions | Expected loss rates | 0 – 25% | ||||||||||||||
OREO | Discounted appraisals | Collateral discounts and estimated costs to sell | 0 – 10% |
Fair_Values_of_Financial_Instr1
Fair Values of Financial Instruments and Interest Rate Risk (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||
Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments | The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of March 31, 2015 and December 31, 2014: | ||||||||||||||||||||
March 31, 2015 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Value | Fair Value | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 54,032 | $ | 50,826 | $ | 47,605 | $ | 3,221 | $ | — | |||||||||||
Securities available for sale | 105,530 | 105,530 | 19,355 | 86,175 | — | ||||||||||||||||
Securities held to maturity | 11,466 | 11,473 | 2,034 | 9,439 | — | ||||||||||||||||
Loans held for investment, net | 304,904 | 312,876 | — | — | 312,876 | ||||||||||||||||
Loans held for sale | 401 | 401 | — | 401 | — | ||||||||||||||||
Restricted stock | 1,039 | 1,039 | 1,039 | — | — | ||||||||||||||||
Accrued interest receivable | 1,542 | 1,542 | — | — | 1,542 | ||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||
Deposits | $ | 451,851 | $ | 444,567 | $ | — | $ | — | $ | 444,567 | |||||||||||
Short-term borrowings | 4,790 | 4,790 | — | 4,790 | — | ||||||||||||||||
Long-term borrowings | 22 | 22 | — | 22 | — | ||||||||||||||||
Junior subordinated debt | 9,534 | 9,698 | — | — | 9,698 | ||||||||||||||||
Accrued interest payable | 181 | 181 | — | — | 181 | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Carrying | Estimated | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Value | Fair Value | ||||||||||||||||||||
(dollars in thousands) | |||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||
Cash and cash equivalents | $ | 50,791 | $ | 50,826 | $ | 47,605 | $ | 3,221 | $ | — | |||||||||||
Securities available for sale | 112,824 | 112,824 | 19,386 | 93,438 | — | ||||||||||||||||
Securities held to maturity | 5,496 | 5,450 | 2,053 | 3,397 | — | ||||||||||||||||
Loans held for investment, net | 307,115 | 321,295 | — | — | 321,295 | ||||||||||||||||
Loans held for sale | 2,147 | 2,147 | — | 2,147 | — | ||||||||||||||||
Restricted stock | 1,038 | 1,038 | 1,038 | — | — | ||||||||||||||||
Accrued interest receivable | 1,747 | 1,747 | — | — | 1,747 | ||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||
Deposits | $ | 456,435 | $ | 442,655 | $ | — | $ | — | $ | 442,655 | |||||||||||
Short-term borrowings | 4,685 | 4,685 | — | 4,685 | — | ||||||||||||||||
Long-term borrowings | 24 | 24 | — | 24 | — | ||||||||||||||||
Junior subordinated debt | 9,534 | 9,703 | — | — | 9,70 | ||||||||||||||||
Accrued interest payable | 180 | 180 | — | — | 180 |
Comprehensive_Income_Accumulat
Comprehensive Income - Accumulated Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Equity [Abstract] | ||
Beginning Balance | $305 | ($562) |
Other comprehensive income (loss) before reclassifications, net of $199,000 and $177,000 tax effect, respectively | 355 | 341 |
Amounts reclassified from accumulated other comprehensive income, net of $87,000 and $8,000 tax effect | -138 | -13 |
Net current-period other comprehensive loss | 217 | 328 |
Ending Balance | $522 | ($234) |
Comprehensive_Income_Accumulat1
Comprehensive Income - Accumulated Other Comprehensive Income (Parenthetical) (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Equity [Abstract] | ||
Tax effect on Other Comprehensive income before reclassifications | $199 | $177 |
Tax effect on amount reclassified from accumulated Other comprehensive income | $87 | $8 |
Noncontrolling_Interest_Additi
Noncontrolling Interest - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Jan. 31, 2013 | Mar. 31, 2015 | Dec. 31, 2013 |
Preferred Stock Series B [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Preferred stock issued | $7.90 | ||
Dividends rate | 5.30% | ||
Voting rights | The preferred stock has no voting rights | ||
Preferred Stock Series C [Member] | |||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | |||
Preferred stock issued | $2.80 | ||
Dividends rate | 5.30% | ||
Voting rights | The preferred stock has no voting rights |
Per_Share_Data_Additional_Info
Per Share Data - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2015 | Dec. 31, 2014 | Feb. 28, 2014 | Dec. 31, 2013 | Dec. 31, 2010 | |
Earnings Per Share Basic And Dilutive [Line Items] | |||||
Stock outstanding options not included in the computation of EPS | 12,607 | 94,341 | |||
Shares held by ESOP | 740,530 | ||||
Shares held by ESOP, Percentage | 9.95% | ||||
Shares unallocated to participants in the ESOP | 252,446 | ||||
Remaining unallocated share | 252,446 | ||||
Employee Stock Ownership Plan [Member] | |||||
Earnings Per Share Basic And Dilutive [Line Items] | |||||
Line of credit | $500,000 | $500,000 |
Per_Share_Data_Computation_of_
Per Share Data - Computation of Basic and Dilutive Earnings Per Share (Detail) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Earnings Per Share [Abstract] | ||
Weighted average number of common shares outstanding | 6,961,338 | 7,506,156 |
Effect of unreleased ESOP shares | -171,730 | |
Adjusted weighted average number of common shares used in computing basic net income per common share | 6,961,338 | 7,334,426 |
Effect of dilutive stock options | 0 | 0 |
Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per common share | 6,961,338 | 7,334,426 |
Investment_Securities_Carrying
Investment Securities - Carrying Amounts and Fair Values of Securities Available for Sale and Held to Maturity (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available for Sale and Held to Maturity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $104,739 | $112,362 |
Available-for-sale Securities, Gross Unrealized Gains | 1,085 | 1,096 |
Available-for-sale Securities, Gross Unrealized Losses | 294 | 634 |
Available-for-sale Securities, Fair Value | 105,530 | 112,824 |
Held-to-maturity Securities, Amortized Cost | 11,466 | 5,496 |
Held-to-maturity Securities, Gross Unrealized Gains | 44 | |
Held-to-maturity Securities, Gross Unrealized Losses | 37 | 46 |
Held-to-maturity Securities, Fair Value | 11,473 | 5,450 |
U.S. Treasury [Member] | ||
Schedule of Available for Sale and Held to Maturity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 18,972 | 19,030 |
Available-for-sale Securities, Gross Unrealized Gains | 383 | 362 |
Available-for-sale Securities, Gross Unrealized Losses | 6 | |
Available-for-sale Securities, Fair Value | 19,355 | 19,386 |
Held-to-maturity Securities, Fair Value | 2,034 | |
U.S. Government Agencies [Member] | ||
Schedule of Available for Sale and Held to Maturity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 45,509 | 50,969 |
Available-for-sale Securities, Gross Unrealized Gains | 274 | 96 |
Available-for-sale Securities, Gross Unrealized Losses | 86 | 290 |
Available-for-sale Securities, Fair Value | 45,697 | 50,775 |
Held-to-maturity Securities, Amortized Cost | 2,050 | 2,085 |
Held-to-maturity Securities, Gross Unrealized Losses | 16 | 32 |
Held-to-maturity Securities, Fair Value | 2,034 | 2,053 |
Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available for Sale and Held to Maturity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 26,177 | 27,748 |
Available-for-sale Securities, Gross Unrealized Gains | 189 | 133 |
Available-for-sale Securities, Gross Unrealized Losses | 180 | 309 |
Available-for-sale Securities, Fair Value | 26,186 | 27,572 |
Corporate Bonds [Member] | ||
Schedule of Available for Sale and Held to Maturity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 7,447 | 3,040 |
Available-for-sale Securities, Gross Unrealized Losses | 28 | 29 |
Available-for-sale Securities, Fair Value | 7,419 | 3,011 |
Held-to-maturity Securities, Amortized Cost | 3,392 | 3,411 |
Held-to-maturity Securities, Gross Unrealized Gains | 33 | |
Held-to-maturity Securities, Gross Unrealized Losses | 14 | |
Held-to-maturity Securities, Fair Value | 3,425 | 3,397 |
State and Political Subdivisions [Member] | ||
Schedule of Available for Sale and Held to Maturity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 6,634 | 11,575 |
Available-for-sale Securities, Gross Unrealized Gains | 239 | 505 |
Available-for-sale Securities, Fair Value | 6,873 | 12,080 |
Held-to-maturity Securities, Amortized Cost | 6,024 | |
Held-to-maturity Securities, Gross Unrealized Gains | 11 | |
Held-to-maturity Securities, Gross Unrealized Losses | 21 | |
Held-to-maturity Securities, Fair Value | $6,014 |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Security | Security | |
Schedule of Available-for-sale Securities [Line Items] | ||
Federal Reserve stock owned by Company | $506,000 | $532,000 |
Federal Home Loan Bank stock | 533,000 | 506,000 |
Securities available for sale pledged as collateral on public deposits | 74,100,000 | 84,700,000 |
Number of treasury note related to unrealized losses | 1 | |
Number of Government agency bond | 4 | 13 |
Number of mortgage backed securities related to unrealized losses | 2 | 8 |
Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of mortgage backed securities | 4 | |
Available for sale securities | $0 | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of mortgage backed securities | 4 | |
Number of securities related to unrealized losses | 1 | 1 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of mortgage backed securities | 4 | 2 |
Number of securities related to unrealized losses | 2 | 2 |
Number of securities less than twelve months related to unrealized losses | 4 |
Investment_Securities_Sales_an
Investment Securities - Sales and Calls of Securities Available for Sale (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Investments, Debt and Equity Securities [Abstract] | ||
Gross proceeds from sales | $5,143 | $328 |
Gross realized gains from sales/calls | 225 | 21 |
Gross realized losses from sales/calls | 0 | 0 |
Net realized gains | $225 | $21 |
Investment_Securities_Gross_Un
Investment Securities - Gross Unrealized Losses and Fair Value of Investments (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | $23,538 | $17,834 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 89 | 62 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 19,548 | 31,944 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 205 | 572 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 43,086 | 49,778 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 294 | 634 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 7,249 | 5,450 |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 37 | 46 |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 0 | 0 |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 0 | 0 |
Held-to-maturity Securities, Gross unrealized losses, Fair Value | 7,249 | 5,450 |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 37 | 46 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 3,143 | |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 6 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 3,143 | |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 6 | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 12,617 | 9,690 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 46 | 23 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 5,380 | 17,776 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 40 | 267 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 17,997 | 27,466 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 86 | 290 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 2,050 | 2,053 |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 16 | 32 |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 0 | 0 |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 0 | 0 |
Held-to-maturity Securities, Gross unrealized losses, Fair Value | 2,050 | 2,053 |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 16 | 32 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 5,199 | |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 21 | |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 0 | |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 0 | |
Held-to-maturity Securities, Gross unrealized losses, Fair Value | 5,199 | |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 21 | |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 7,447 | 3,011 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 28 | 29 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 7,447 | 3,011 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 28 | 29 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 3,397 | |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 14 | |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 0 | |
Held-to-maturity Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 0 | |
Held-to-maturity Securities, Gross unrealized losses, Fair Value | 3,397 | |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 14 | |
Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 3,474 | 1,990 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 15 | 4 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 14,168 | 14,168 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 165 | 305 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 17,642 | 16,158 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | $180 | $309 |
Investment_Securities_Amortize
Investment Securities - Amortized Cost and Fair Value of Available for Sale Securities Portfolio (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized Cost | $650 | |
Due after one but within five years, Amortized Cost | 65,401 | |
Due after five but within ten years, Amortized Cost | 7,768 | |
Due after ten years, Amortized Cost | 30,920 | |
Available-for-sale Securities, Amortized Cost | 104,739 | 112,362 |
Due within twelve months, Estimated Fair Value | 664 | |
Due after one but within five years, Estimated Fair Value | 66,124 | |
Due after five but within ten years, Estimated Fair Value | 7,826 | |
Due after ten years, Estimated Fair Value | 30,916 | |
Fair Value | 105,530 | 112,824 |
Due within twelve months, Book Yield | 5.46% | |
Due after one but within five years, Book Yield | 1.56% | |
Due after five but within ten years, Book Yield | 2.35% | |
Due after ten years, Book Yield | 2.30% | |
Total securities available for sale, Book Yield | 1.86% | |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | 18,972 | |
Available-for-sale Securities, Amortized Cost | 18,972 | 19,030 |
Due after one but within five years, Estimated Fair Value | 19,355 | |
Fair Value | 19,355 | 19,386 |
Due after one but within five years, Book Yield | 1.86% | |
Total securities available for sale, Book Yield | 1.86% | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | 36,207 | |
Due after five but within ten years, Amortized Cost | 750 | |
Due after ten years, Amortized Cost | 8,552 | |
Available-for-sale Securities, Amortized Cost | 45,509 | 50,969 |
Due after one but within five years, Estimated Fair Value | 36,433 | |
Due after five but within ten years, Estimated Fair Value | 754 | |
Due after ten years, Estimated Fair Value | 8,510 | |
Fair Value | 45,697 | 50,775 |
Due after one but within five years, Book Yield | 1.30% | |
Due after five but within ten years, Book Yield | 2.23% | |
Due after ten years, Book Yield | 2.27% | |
Total securities available for sale, Book Yield | 1.50% | |
Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | 3,907 | |
Due after five but within ten years, Amortized Cost | 2,909 | |
Due after ten years, Amortized Cost | 19,361 | |
Available-for-sale Securities, Amortized Cost | 26,177 | 27,748 |
Due after one but within five years, Estimated Fair Value | 3,897 | |
Due after five but within ten years, Estimated Fair Value | 2,956 | |
Due after ten years, Estimated Fair Value | 19,333 | |
Fair Value | 26,186 | 27,572 |
Due after one but within five years, Book Yield | 1.50% | |
Due after five but within ten years, Book Yield | 2.07% | |
Due after ten years, Book Yield | 2.03% | |
Total securities available for sale, Book Yield | 1.96% | |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized Cost | 650 | |
Due after one but within five years, Amortized Cost | 1,907 | |
Due after five but within ten years, Amortized Cost | 1,070 | |
Due after ten years, Amortized Cost | 3,007 | |
Available-for-sale Securities, Amortized Cost | 6,634 | 11,575 |
Due within twelve months, Estimated Fair Value | 664 | |
Due after one but within five years, Estimated Fair Value | 2,039 | |
Due after five but within ten years, Estimated Fair Value | 1,097 | |
Due after ten years, Estimated Fair Value | 3,073 | |
Fair Value | 6,873 | 12,080 |
Due within twelve months, Book Yield | 5.46% | |
Due after one but within five years, Book Yield | 4.76% | |
Due after five but within ten years, Book Yield | 6.24% | |
Due after ten years, Book Yield | 4.07% | |
Total securities available for sale, Book Yield | 4.76% | |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | 4,408 | |
Due after five but within ten years, Amortized Cost | 3,039 | |
Available-for-sale Securities, Amortized Cost | 7,447 | 3,040 |
Due after one but within five years, Estimated Fair Value | 4,400 | |
Due after five but within ten years, Estimated Fair Value | 3,019 | |
Fair Value | $7,419 | $3,011 |
Due after one but within five years, Book Yield | 1.14% | |
Due after five but within ten years, Book Yield | 1.27% | |
Total securities available for sale, Book Yield | 1.20% |
Investment_Securities_Amortize1
Investment Securities - Amortized Cost and Fair Value of Held to Maturity Securities Portfolio (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $1,686 | |
Due after five but within ten years, Amortized Cost | 8,798 | |
Due after ten years, Amortized Cost | 982 | |
Total Securities held for maturity, Amortized Cost | 11,466 | |
Due after one but within five years | 1,702 | |
Due after five but within ten years | 8,795 | |
Due after ten years | 976 | |
Total Securities held for maturity, Estimated Fair Value | 11,473 | 5,450 |
Due after one but within five years | 2.73% | |
Due after five but within ten years | 2.64% | |
Due after ten years | 2.58% | |
Total securities held to maturity, Book Yield | 2.65% | |
U.S. Treasury [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | 2,050 | |
Total Securities held for maturity, Amortized Cost | 2,050 | |
Due after one but within five years | 2,034 | |
Total Securities held for maturity, Estimated Fair Value | 2,034 | |
Due after one but within five years | 2.23% | |
Total securities held to maturity, Book Yield | 2.23% | |
State and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after five but within ten years, Amortized Cost | 5,042 | |
Due after ten years, Amortized Cost | 982 | |
Total Securities held for maturity, Amortized Cost | 6,024 | |
Due after five but within ten years | 5,038 | |
Due after ten years | 976 | |
Total Securities held for maturity, Estimated Fair Value | 6,014 | |
Due after five but within ten years | 2.75% | |
Due after ten years | 2.58% | |
Total securities held to maturity, Book Yield | 2.73% | |
Corporate Bonds [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | 1,686 | |
Due after five but within ten years, Amortized Cost | 1,706 | |
Total Securities held for maturity, Amortized Cost | 3,392 | |
Due after one but within five years | 1,702 | |
Due after five but within ten years | 1,723 | |
Total Securities held for maturity, Estimated Fair Value | $3,425 | $3,397 |
Due after one but within five years | 2.73% | |
Due after five but within ten years | 2.79% | |
Total securities held to maturity, Book Yield | 2.76% |
Loans_Held_for_Investment_Comp
Loans Held for Investment - Composition of Net Loans Held for Investment by Class (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | $308,643 | $310,860 | ||
Less: | ||||
Allowance for loan losses | -3,729 | -3,738 | -4,198 | -5,095 |
Deferred loan (fees) costs, net | -10 | -7 | ||
Net loans held for investment | 304,904 | 307,115 | ||
Commercial [Member] | Commercial Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 46,916 | 47,418 | ||
Commercial [Member] | Real Estate - Commercial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 92,903 | 92,517 | ||
Commercial [Member] | Other Real Estate Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 22,691 | 22,362 | ||
Non-Commercial [Member] | Real Estate 1-4 Family Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 4,094 | 3,888 | ||
Non-Commercial [Member] | Real Estate - Residential [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 86,932 | 89,374 | ||
Non-Commercial [Member] | Home Equity [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 46,607 | 46,360 | ||
Non-Commercial [Member] | Consumer Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | 8,104 | 8,460 | ||
Non-Commercial [Member] | Other Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans, Total | $396 | $481 |
Allowance_for_Loan_Losses_Chan
Allowance for Loan Losses - Changes in Allowance for Loan Losses (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance, beginning of period | $3,738 | $5,095 |
Provision (recovery) charged to operations | -62 | -424 |
Charge-offs | -157 | -506 |
Recoveries | 210 | 33 |
Net (charge-offs)/recoveries | 53 | -473 |
Balance at end of period | 3,729 | 4,198 |
Commercial [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance, beginning of period | 1,716 | 2,665 |
Provision (recovery) charged to operations | -61 | -245 |
Charge-offs | -40 | -237 |
Recoveries | 179 | 9 |
Net (charge-offs)/recoveries | 139 | -228 |
Balance at end of period | 1,794 | 2,192 |
Non-Commercial [Member] | ||
Schedule Of Allowance For Loan Losses [Line Items] | ||
Balance, beginning of period | 2,022 | 2,430 |
Provision (recovery) charged to operations | -1 | -179 |
Charge-offs | -117 | -269 |
Recoveries | 31 | 24 |
Net (charge-offs)/recoveries | -86 | -245 |
Balance at end of period | $1,935 | $2,006 |
Allowance_for_Loan_Losses_Sche
Allowance for Loan Losses - Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | ||||
Individually Evaluated, Reserve | $402 | $456 | ||
Individually Evaluated, Loans | 7,957 | 7,561 | ||
Collectively Evaluated, Reserve | 3,327 | 3,282 | ||
Collectively Evaluated, Loans | 300,676 | 303,292 | ||
Total Reserve | 3,729 | 3,738 | 4,198 | 5,095 |
Net loans held for investment | 308,633 | 310,853 | ||
Commercial [Member] | ||||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | ||||
Individually Evaluated, Reserve | 162 | 179 | ||
Individually Evaluated, Loans | 2,271 | 2,125 | ||
Collectively Evaluated, Reserve | 1,632 | 1,537 | ||
Collectively Evaluated, Loans | 160,239 | 160,172 | ||
Total Reserve | 1,794 | 1,716 | 2,192 | 2,665 |
Net loans held for investment | 162,510 | 162,297 | ||
Non-Commercial [Member] | ||||
Schedule Of Loans And Allowance For Loan By Class Individually And Collectively Evaluated For Impairment [Line Items] | ||||
Individually Evaluated, Reserve | 240 | 277 | ||
Individually Evaluated, Loans | 5,686 | 5,436 | ||
Collectively Evaluated, Reserve | 1,695 | 1,745 | ||
Collectively Evaluated, Loans | 140,437 | 143,120 | ||
Total Reserve | 1,935 | 2,022 | 2,006 | 2,430 |
Net loans held for investment | $146,123 | $148,556 |
Allowance_for_Loan_Losses_Past
Allowance for Loan Losses - Past Due Information of Loan Portfolio by Class (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ||
Loans 30-89 Days Past Due | $2,344 | $2,004 |
Loans 90 Days or More Past Due and Non -Accrual | 2,751 | 2,246 |
Total Past Due Loans | 5,095 | 4,250 |
Current Loans | 303,538 | 306,603 |
Net loans held for investment | 308,633 | 310,853 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans 30-89 Days Past Due | 42 | |
Total Past Due Loans | 42 | |
Current Loans | 46,916 | 47,376 |
Net loans held for investment | 46,916 | 47,418 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real estate - commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans 30-89 Days Past Due | 125 | 77 |
Loans 90 Days or More Past Due and Non -Accrual | 1,067 | 794 |
Total Past Due Loans | 1,192 | 871 |
Current Loans | 91,711 | 91,646 |
Net loans held for investment | 92,903 | 92,517 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans 30-89 Days Past Due | 25 | |
Loans 90 Days or More Past Due and Non -Accrual | 227 | 342 |
Total Past Due Loans | 252 | 342 |
Current Loans | 22,439 | 22,020 |
Net loans held for investment | 22,691 | 22,362 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate 1-4 Family Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Current Loans | 4,094 | |
Net loans held for investment | 4,094 | 3,888 |
Accruing Loans 90 or More Days Past Due | 0 | |
Residential Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans 30-89 Days Past Due | 2,123 | 1,673 |
Loans 90 Days or More Past Due and Non -Accrual | 1,403 | 1,097 |
Total Past Due Loans | 3,526 | 2,770 |
Current Loans | 83,396 | 86,597 |
Net loans held for investment | 86,922 | 89,367 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans 30-89 Days Past Due | 50 | 89 |
Loans 90 Days or More Past Due and Non -Accrual | 54 | 13 |
Total Past Due Loans | 104 | 102 |
Current Loans | 46,503 | 46,258 |
Net loans held for investment | 46,607 | 46,360 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Consumer loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans 30-89 Days Past Due | 21 | 123 |
Total Past Due Loans | 21 | 123 |
Current Loans | 8,083 | 8,337 |
Net loans held for investment | 8,104 | 8,460 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Other Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Current Loans | 396 | 481 |
Net loans held for investment | 396 | 481 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Current Loans | 3,888 | |
Net loans held for investment | 3,888 | |
Accruing Loans 90 or More Days Past Due | $0 |
Allowance_for_Loan_Losses_Addi
Allowance for Loan Losses - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Dec. 31, 2014 | |
Receivables [Abstract] | ||
Financing receivable recorded investment number of days past due | 90 days | |
Non-performing loans | $0 | $0 |
Allowance_for_Loan_Losses_Comp
Allowance for Loan Losses - Composition of Nonaccrual Loans by Class (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | $2,751 | $2,246 |
Real estate - commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 1,067 | 794 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 227 | 342 |
Residential Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 1,403 | 1,097 |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | $54 | $13 |
Allowance_for_Loan_Losses_Summ
Allowance for Loan Losses - Summary of Risk Grades of Portfolio by Class (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $308,633 | $310,853 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 46,916 | 47,418 |
Real estate - commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 92,903 | 92,517 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 22,691 | 22,362 |
Real Estate 1-4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,094 | 3,888 |
Residential Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 86,922 | 89,367 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 46,607 | 46,360 |
Consumer loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,104 | 8,460 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 396 | 481 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 281,219 | 282,506 |
Pass [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 46,278 | 46,734 |
Pass [Member] | Real estate - commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 83,816 | 82,846 |
Pass [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 20,093 | 19,724 |
Pass [Member] | Real Estate 1-4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,094 | 3,888 |
Pass [Member] | Residential Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 73,700 | 75,859 |
Pass [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 44,940 | 44,799 |
Pass [Member] | Consumer loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 7,902 | 8,175 |
Pass [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 396 | 481 |
Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 18,693 | 19,877 |
Watch [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 583 | 614 |
Watch [Member] | Real estate - commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,852 | 5,513 |
Watch [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,022 | 1,925 |
Watch [Member] | Residential Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,518 | 10,090 |
Watch [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,523 | 1,458 |
Watch [Member] | Consumer loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 195 | 277 |
Sub-standard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,721 | 8,470 |
Sub-standard [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 55 | 70 |
Sub-standard [Member] | Real estate - commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,235 | 4,158 |
Sub-standard [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 576 | 713 |
Sub-standard [Member] | Residential Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,704 | 3,418 |
Sub-standard [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 144 | 103 |
Sub-standard [Member] | Consumer loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $7 | $8 |
Allowance_for_Loan_Losses_Summ1
Allowance for Loan Losses - Summary of Performing and Nonperforming Loans by Class (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $308,633 | $310,853 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 46,916 | 47,418 |
Real estate - commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 92,903 | 92,517 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 22,691 | 22,362 |
Real Estate 1-4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,094 | 3,888 |
Residential Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 86,922 | 89,367 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 46,607 | 46,360 |
Consumer loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,104 | 8,460 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 396 | 481 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 305,882 | 308,607 |
Performing [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 46,916 | 47,418 |
Performing [Member] | Real estate - commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 91,836 | 91,723 |
Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 22,464 | 22,020 |
Performing [Member] | Real Estate 1-4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,094 | 3,888 |
Performing [Member] | Residential Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 85,519 | 88,270 |
Performing [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 46,553 | 46,347 |
Performing [Member] | Consumer loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,104 | 8,460 |
Performing [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 396 | 481 |
Non-Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,751 | 2,246 |
Non-Performing [Member] | Real estate - commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,067 | 794 |
Non-Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 227 | 342 |
Non-Performing [Member] | Residential Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,403 | 1,097 |
Non-Performing [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $54 | $13 |
Allowance_for_Loan_Losses_Summ2
Allowance for Loan Losses - Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | $8,684 | $8,288 | |
Recorded Investment With No Allowance | 4,266 | 3,576 | |
Recorded Investment With Allowance | 3,691 | 3,985 | |
Related Allowance | 402 | 456 | |
Average Recorded Investment | 7,759 | 16,564 | |
Interest Income | 70 | 146 | |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 60 | 98 | |
Recorded Investment With No Allowance | 60 | 68 | |
Recorded Investment With Allowance | 30 | ||
Related Allowance | 158 | 30 | |
Average Recorded Investment | 79 | 271 | |
Interest Income | 1 | 2 | |
Real estate - commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 2,119 | 1,820 | |
Recorded Investment With No Allowance | 1,529 | 1,242 | |
Recorded Investment With Allowance | 401 | 389 | |
Related Allowance | 4 | 145 | |
Average Recorded Investment | 1,780 | 5,882 | |
Interest Income | 16 | 54 | |
Other Real Estate Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 819 | 934 | |
Recorded Investment With No Allowance | 228 | 342 | |
Recorded Investment With Allowance | 53 | 54 | |
Related Allowance | 1 | 4 | |
Average Recorded Investment | 339 | 1,953 | |
Interest Income | 1 | 3 | |
Real Estate 1-4 Family Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 18 | 20 | |
Recorded Investment With Allowance | 18 | 20 | |
Related Allowance | 239 | 1 | |
Average Recorded Investment | 19 | 373 | |
Interest Income | 5 | ||
Residential Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 5,570 | 5,298 | |
Recorded Investment With No Allowance | 2,351 | 1,865 | |
Recorded Investment With Allowance | 3,219 | 3,433 | |
Related Allowance | 257 | ||
Average Recorded Investment | 5,434 | 7,675 | |
Interest Income | 51 | 78 | |
Home Equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 71 | 49 | |
Recorded Investment With No Allowance | 71 | 30 | |
Recorded Investment With Allowance | 19 | ||
Related Allowance | 19 | ||
Average Recorded Investment | 60 | 298 | |
Interest Income | 1 | 2 | |
Consumer loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 27 | 69 | |
Recorded Investment With No Allowance | 27 | 29 | |
Recorded Investment With Allowance | 40 | ||
Average Recorded Investment | 48 | 112 | |
Interest Income | $2 |
Troubled_Debt_Restructures_Add
Troubled Debt Restructures - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
SecurityLoan | ||
Debt Disclosure [Abstract] | ||
Troubled debt restructuring outstanding | $5,200,000 | |
Troubled debt restructuring on non-accrual basis | 261,000 | |
Number of loan excepted | 1 | |
TDR's which was default payment | 0 | 0 |
TDR is defined as being past due | 90 days | |
Allowance for loan loss on TDR | $331,000 | $363,000 |
Troubled_Debt_Restructures_Bre
Troubled Debt Restructures - Breakdown of Types of Concessions Made by Loan Class (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 11 | |
Pre-Modification Outstanding Recorded Investment | $1,670 | |
Post-Modification Outstanding Recorded Investment | 1,556 | |
Extend Payment Terms [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 1 | |
Pre-Modification Outstanding Recorded Investment | 39 | |
Post-Modification Outstanding Recorded Investment | 34 | |
Extend Payment Terms [Member] | Consumer loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 1 | |
Pre-Modification Outstanding Recorded Investment | 39 | |
Post-Modification Outstanding Recorded Investment | 34 | |
Other Payment Terms [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 2 | 10 |
Pre-Modification Outstanding Recorded Investment | 188 | 1,631 |
Post-Modification Outstanding Recorded Investment | 183 | 1,522 |
Other Payment Terms [Member] | Real estate - commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 1 | |
Pre-Modification Outstanding Recorded Investment | 344 | |
Post-Modification Outstanding Recorded Investment | 269 | |
Other Payment Terms [Member] | Real estate - residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 2 | 9 |
Pre-Modification Outstanding Recorded Investment | 188 | 1,287 |
Post-Modification Outstanding Recorded Investment | $183 | $1,253 |
Troubled_Debt_Restructures_Sch
Troubled Debt Restructures - Schedule of Successes and Failures of Types of Debt Restructuring (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Loans | Loans | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 11 | |
Recorded Investments | $5,200 | |
Extend Payment Terms [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 1 | |
Paid In Full [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 1 | |
Recorded Investments | 116 | |
Paid In Full [Member] | Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 1 | |
Recorded Investments | 116 | |
Paying as Restructured [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 9 | 11 |
Recorded Investments | 1,469 | 1,556 |
Paying as Restructured [Member] | Extend Payment Terms [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 1 | 1 |
Recorded Investments | 50 | 34 |
Paying as Restructured [Member] | Other Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | 8 | 10 |
Recorded Investments | $1,419 | $1,522 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk (Detail) (USD $) | Mar. 31, 2015 |
In Thousands, unless otherwise specified | |
Loss Contingencies [Line Items] | |
Total commitments | $93,907 |
Standby Letters of Credit [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | 3,652 |
Commitments to Extend Credit [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | 81,056 |
Credit Card Commitments [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | $9,199 |
Fair_Value_Disclosures_Fair_Va
Fair Value Disclosures - Fair Value Information for Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $105,530 | $112,824 |
Fair Value on a Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 105,530 | 112,824 |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Recurring Basis [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 19,355 | 19,386 |
Fair Value on a Recurring Basis [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 45,697 | 50,775 |
Fair Value on a Recurring Basis [Member] | Mortgage-backed Securities and CMO's [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 26,186 | 27,572 |
Fair Value on a Recurring Basis [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 6,873 | 12,080 |
Fair Value on a Recurring Basis [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 7,419 | 3,011 |
Fair Value on a Recurring Basis [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 19,355 | 19,386 |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Recurring Basis [Member] | Level 1 [Member] | U.S. Treasury [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 19,355 | 19,386 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 86,175 | 93,438 |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 45,697 | 50,775 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | Mortgage-backed Securities and CMO's [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 26,186 | 27,572 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 6,873 | 12,080 |
Fair Value on a Recurring Basis [Member] | Level 2 [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 7,419 | 3,011 |
Fair Value on a Recurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | $0 | $0 |
Fair_Value_Disclosures_Assets_
Fair Value Disclosures - Assets Measured at Fair Value on Nonrecurring Basis (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $105,530 | $112,824 |
Fair Value on a Nonrecurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 4,746 | 1,854 |
Other real estate owned | 3,435 | 3,290 |
Fair Value | 8,181 | 5,144 |
Total liabilities at fair value | 0 | 0 |
Fair Value on a Nonrecurring Basis [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | 0 | 0 |
Fair Value on a Nonrecurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total liabilities at fair value | 0 | 0 |
Fair Value on a Nonrecurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 4,746 | 1,854 |
Other real estate owned | 3,435 | 3,290 |
Fair Value | 8,181 | 5,144 |
Total liabilities at fair value | $0 | $0 |
Fair_Value_Disclosures_Quantit
Fair Value Disclosures - Quantitative Information about Level 3 Fair Value Measurements (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted appraisals and broker price opinions | Discounted appraisals and broker price opinions |
OREO [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted appraisals | Discounted appraisals |
Fair Value on a Nonrecurring Basis [Member] | Minimum [Member] | Impaired Loans [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 0.00% | 0.00% |
Fair Value on a Nonrecurring Basis [Member] | Minimum [Member] | OREO [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 0.00% | 0.00% |
Fair Value on a Nonrecurring Basis [Member] | Maximum [Member] | Impaired Loans [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 25.00% | 25.00% |
Fair Value on a Nonrecurring Basis [Member] | Maximum [Member] | OREO [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 10.00% | 10.00% |
Fair_Values_of_Financial_Instr2
Fair Values of Financial Instruments and Interest Rate Risk - Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
FINANCIAL ASSETS | ||
Securities held to maturity | $11,473 | $5,450 |
Loans held for investment, net | 304,904 | 307,115 |
Accrued interest receivable | 1,542 | 1,747 |
FINANCIAL LIABILITIES | ||
Accrued interest payable | 181 | 180 |
Carrying Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 54,032 | 50,791 |
Securities available for sale | 105,530 | 112,824 |
Securities held to maturity | 11,466 | 5,496 |
Loans held for investment, net | 304,904 | 307,115 |
Loans held for sale | 401 | 2,147 |
Restricted stock | 1,039 | 1,038 |
Accrued interest receivable | 1,542 | 1,747 |
FINANCIAL LIABILITIES | ||
Deposits | 451,851 | 456,435 |
Short-term borrowings | 4,790 | 4,685 |
Long-term borrowings | 22 | 24 |
Junior subordinated debt | 9,534 | 9,534 |
Accrued interest payable | 181 | 180 |
Estimated Fair Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 50,826 | 50,826 |
Securities available for sale | 105,530 | 112,824 |
Securities held to maturity | 11,473 | 5,450 |
Loans held for investment, net | 312,876 | 321,295 |
Loans held for sale | 401 | 2,147 |
Restricted stock | 1,039 | 1,038 |
Accrued interest receivable | 1,542 | 1,747 |
FINANCIAL LIABILITIES | ||
Deposits | 444,567 | 442,655 |
Short-term borrowings | 4,790 | 4,685 |
Long-term borrowings | 22 | 24 |
Junior subordinated debt | 9,698 | 9,703 |
Accrued interest payable | 181 | 180 |
Level 1 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 47,605 | 47,605 |
Securities available for sale | 19,355 | 19,386 |
Securities held to maturity | 2,034 | 2,053 |
Restricted stock | 1,039 | 1,038 |
Level 2 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 3,221 | 3,221 |
Securities available for sale | 86,175 | 93,438 |
Securities held to maturity | 9,439 | 3,397 |
Loans held for sale | 401 | 2,147 |
FINANCIAL LIABILITIES | ||
Short-term borrowings | 4,790 | 4,685 |
Long-term borrowings | 22 | 24 |
Level 3 [Member] | ||
FINANCIAL ASSETS | ||
Loans held for investment, net | 312,876 | 321,295 |
Accrued interest receivable | 1,542 | 1,747 |
FINANCIAL LIABILITIES | ||
Deposits | 444,567 | 442,655 |
Junior subordinated debt | 9,698 | 970 |
Accrued interest payable | $181 | $180 |
Fair_Values_of_Financial_Instr3
Fair Values of Financial Instruments and Interest Rate Risk - Additional Information (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | |
Short term borrowings due period | 1 year |
Current fair value of off-balance sheet financial instruments | $0 |
Recent_Accounting_Pronouncemen1
Recent Accounting Pronouncements - Additional Information (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 15, 2014 |
Regulatory Assets [Abstract] | |||
Foreclosed assets | $5,236,000 | $5,865,000 | $1,200,000 |
Real estate in process of foreclosure | $1,800,000 |