Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Oct. 26, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | UWHR | |
Entity Registrant Name | UWHARRIE CAPITAL CORP | |
Entity Central Index Key | 898,171 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 6,875,586 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and due from banks | $ 6,685 | $ 6,807 |
Interest-earning deposits with banks | 51,585 | 43,984 |
Securities available for sale, at fair value | 96,927 | 112,824 |
Securities held to maturity, at amortized cost (fair value $11,276 and $5,450, respectively) | 11,274 | 5,496 |
Loans held for sale | 418 | 2,147 |
Loans: | ||
Loans held for investment | 322,816 | 310,853 |
Less allowance for loan losses | (2,961) | (3,738) |
Net loans held for investment | 319,855 | 307,115 |
Premises and equipment, net | 14,752 | 14,858 |
Interest receivable | 1,466 | 1,747 |
Restricted stock | 1,040 | 1,038 |
Bank owned life insurance | 6,733 | 6,645 |
Other real estate owned | 5,942 | 5,865 |
Prepaid assets | 958 | 969 |
Other assets | 9,461 | 8,969 |
Total assets | 527,096 | 518,464 |
Deposits: | ||
Demand noninterest-bearing | 92,753 | 80,069 |
Interest checking and money market accounts | 243,638 | 243,116 |
Savings deposits | 40,001 | 39,091 |
Time deposits, $250,000 and over | 8,139 | 9,865 |
Other time deposits | 77,818 | 84,294 |
Total deposits | 462,349 | 456,435 |
Short-term borrowed funds | 5,232 | 4,685 |
Long-term debt | 9,550 | 9,558 |
Interest payable | 176 | 180 |
Other liabilities | 5,860 | 4,783 |
Total liabilities | $ 483,167 | $ 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 6,875,586 and 6,961,484 | $ 8,594 | $ 8,702 |
Common stock dividend distributable | 172 | |
Additional paid-in capital | 12,401 | 11,712 |
Undivided profits | 11,874 | 10,974 |
Accumulated other comprehensive income | 299 | 305 |
Total Uwharrie Capital shareholders' equity | 33,340 | 31,693 |
Noncontrolling interest | 10,589 | 10,569 |
Total shareholders' equity | 43,929 | 42,262 |
Total liabilities and shareholders' equity | 527,096 | 518,464 |
Common Stock [Member] | ||
SHAREHOLDERS' EQUITY | ||
Total shareholders' equity | $ 8,594 | 8,702 |
Common Stock [Member] | Employee Stock Ownership Plan [Member] | ||
Deposits: | ||
Redeemable common stock held by the Employee Stock Ownership Plan (ESOP) (Note 4) | $ 561 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Securities held for sale, at amortized cost, fair value | $ 11,276 | $ 5,450 |
Common stock, par value | $ 1.25 | $ 1.25 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 6,875,586 | 6,875,586 |
Common stock, shares outstanding | 6,961,484 | 6,961,484 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest Income | ||||
Loans, including fees | $ 3,936 | $ 4,120 | $ 11,784 | $ 12,285 |
Investment securities | ||||
US Treasury | 33 | 94 | 184 | 281 |
US Government agencies and corporations | 331 | 310 | 991 | 968 |
State and political subdivisions | 121 | 87 | 290 | 232 |
Corporate bonds | 7 | 7 | ||
Interest-earning deposits with banks and federal funds sold | 47 | 36 | 126 | 120 |
Total interest income | 4,468 | 4,654 | 13,375 | 13,893 |
Interest Expense | ||||
Interest checking and money market accounts | 69 | 70 | 207 | 228 |
Savings deposits | 12 | 11 | 33 | 47 |
Time deposits, $250,000 and over | 25 | 117 | 49 | 82 |
Other time deposits | 176 | 131 | 586 | 685 |
Short-term borrowed funds | 17 | 2 | 44 | 29 |
Long-term debt | 139 | 139 | 411 | 434 |
Total interest expense | 438 | 470 | 1,330 | 1,505 |
Net interest income | 4,030 | 4,184 | 12,045 | 12,388 |
Provision for (recovery of) loan losses | (323) | (271) | (620) | (756) |
Net interest income after provision (recovery of) for loan losses | 4,353 | 4,455 | 12,665 | 13,144 |
Noninterest Income | ||||
Service charges on deposit accounts | 338 | 367 | 979 | 1,104 |
Other service fees and commissions | 1,040 | 986 | 3,055 | 2,893 |
Gain/(loss) on sale of securities (includes reclassification of $5,000, $502,000 and $26,000 from accumulated other comprehensive income) | 5 | 502 | 26 | |
Gain (loss) on fixed assets and other assets | 120 | 231 | 115 | 471 |
Income from mortgage loan sales | 706 | 282 | 1,699 | 701 |
Other income | 161 | 92 | 309 | 283 |
Total noninterest income | 2,365 | 1,963 | 6,659 | 5,478 |
Noninterest Expense | ||||
Salaries and employee benefits | 3,460 | 3,093 | 9,778 | 9,079 |
Net occupancy expense | 272 | 278 | 824 | 823 |
Equipment expense | 184 | 164 | 524 | 511 |
Data processing costs | 194 | 181 | 553 | 551 |
Office supplies and printing | 58 | 74 | 160 | 202 |
Foreclosed real estate expense | 259 | 610 | 533 | 1,037 |
Professional fees and services | 173 | 210 | 457 | 560 |
Marketing and donations | 221 | 183 | 592 | 476 |
Electronic banking expense | 265 | 214 | 775 | 689 |
Software amortization and maintenance | 142 | 140 | 426 | 396 |
FDIC insurance | 85 | 109 | 284 | 330 |
Other noninterest expense | 621 | 572 | 1,761 | 1,726 |
Total noninterest expense | 5,934 | 5,828 | 16,667 | 16,380 |
Income before income taxes | 784 | 590 | 2,657 | 2,242 |
Income taxes (includes reclassification of $2,000, $194,000 and $10,000 from accumulated other other comprehensive income) | 223 | 191 | 799 | 710 |
Net income | 561 | 399 | 1,858 | 1,532 |
Less: net income attributable to noncontrolling Interest | (149) | (149) | (442) | (442) |
Net income attributable to Uwharrie Capital Corp | 412 | 250 | 1,416 | 1,090 |
Dividends - preferred stock | 0 | 0 | 0 | 0 |
Net income available to common shareholders | $ 412 | $ 250 | $ 1,416 | $ 1,090 |
Net income per common share | ||||
Basic | $ 0.06 | $ 0.03 | $ 0.20 | $ 0.15 |
Diluted | $ 0.06 | $ 0.03 | $ 0.20 | $ 0.15 |
Weighted average shares outstanding | ||||
Basic | 7,034,958 | 7,456,372 | 7,073,046 | 7,473,496 |
Diluted | 7,034,958 | 7,456,372 | 7,073,046 | 7,473,496 |
Consolidated Statements of Inc5
Consolidated Statements of Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Income Statement [Abstract] | |||
Reclassification from accumulated other comprehensive income | $ 5 | $ 502 | $ 26 |
Tax effect on amount reclassified from accumulated Other comprehensive income | $ 2 | $ 194 | $ 10 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income | $ 561 | $ 399 | $ 1,858 | $ 1,532 |
Other comprehensive income (loss) | ||||
Unrealized gain (loss) on available for sale securities | 555 | (461) | 493 | 792 |
Related tax effect | (188) | 156 | (191) | (270) |
Reclassification of (gain) loss recognized in net income | (5) | (502) | (26) | |
Related tax effect | 2 | 194 | 10 | |
Total other comprehensive income (loss) | 367 | (308) | (6) | 506 |
Comprehensive income (loss) | 928 | 91 | 1,852 | 2,038 |
Less: Comprehensive income (loss) attributable to noncontrolling interest | (149) | (149) | (442) | (442) |
Comprehensive income (loss) attributable to Uwharrie Capital | $ 779 | $ (58) | $ 1,410 | $ 1,596 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands | Total | Number of Common Shares Issued [Member] | Common Stock [Member] | Common Stock Dividend Distributable [Member] | Additional Paid-in Capital [Member] | Undivided Profits [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] |
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 | 1,858 | 1,416 | 442 | |||||
2% stock dividend declaration | $ 172 | 344 | (516) | |||||
Repurchase of common stock | (324) | (108) | (216) | |||||
Repurchase of common stock, shares | (85,898) | |||||||
Other comprehensive Income | (6) | (6) | ||||||
Reclass from mezzanine capital | 561 | 561 | ||||||
Record preferred stock dividend Series B (noncontrolling interest) | (311) | (311) | ||||||
Record preferred stock dividend Series C (noncontrolling interest) | (111) | (111) | ||||||
Ending balance at Sep. 30, 2015 | $ 43,929 | $ 8,594 | $ 12,401 | $ 11,874 | $ 299 | $ 10,589 | ||
Ending balance, shares at Sep. 30, 2015 | 6,875,586 |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) | Sep. 30, 2015 |
Statement of Stockholders' Equity [Abstract] | |
Stock dividend, percentage | 2.00% |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash flows from operating activities | ||
Net Income | $ 1,858 | $ 1,532 |
Adjustments to reconcile net income to net cash Provided by (used in) operating activities: | ||
Depreciation | 690 | 687 |
Net amortization of security premiums/discounts AFS | 767 | 746 |
Net amortization of security premiums/discounts HTM | 102 | |
Net amortization of mortgage servicing rights | 513 | 532 |
Impairment of foreclosed real estate | 217 | 574 |
Recovery of loan losses | (620) | (756) |
Net realized gain on sales / calls available for sales securities | (502) | (26) |
Income from mortgage loan sales | (1,699) | (701) |
Proceeds from sales of loans held for sale | 48,436 | 27,278 |
Origination of loans held for sale | (45,008) | (26,840) |
Gain on sale of premises, equipment and other assets | (146) | |
Increase in cash surrender value of life insurance | (88) | (99) |
Gain on sales of foreclosed real estate | (114) | (325) |
Release of ESOP shares | 30 | |
Net change in interest receivable | 281 | 249 |
Net change in other assets | (582) | (60) |
Net change in interest payable | (4) | (42) |
Net change in other liabilities | 1,077 | 1,007 |
Net cash provided by operating activities | 5,324 | 3,640 |
Cash flows from investing activities | ||
Proceeds from sales, maturities and calls of securities available for sale | 40,533 | 10,113 |
Proceeds from sales, maturities and calls of securities held to maturity | 154 | |
Purchase of securities available for sale | (24,910) | (23,711) |
Purchase of securities held to maturity | (6,034) | |
Net (increase) in loans | (13,923) | (3,957) |
Proceeds from sales of premises, equipment and other assets | 273 | |
Purchase of premises and equipment | (584) | (2,041) |
Proceeds from sales of foreclosed real estate | 1,623 | 1,517 |
Investment in other assets | (409) | (250) |
Net decrease in restricted stock | (2) | 146 |
Net cash used in investing activities | (3,552) | (17,910) |
Cash flows from financing activities | ||
Net increase in deposit accounts | 5,914 | 554 |
Net increase (decrease) in short-term borrowed funds | 547 | (1,735) |
Net decrease in long-term debt | (8) | (1,602) |
Repurchase of common stock | (324) | (113) |
Dividend and cost accretion on noncontrolling interest | (422) | (422) |
Cash paid for fractional shares | (4) | |
Net cash provided (used in) in financing activities | 5,707 | (3,322) |
Increase (decrease) in cash and cash equivalents | 7,479 | (17,592) |
Cash and cash equivalents, beginning of period | 50,791 | 72,394 |
Cash and cash equivalents, end of period | 58,270 | 54,802 |
Supplemental Disclosures of Cash Flow Information | ||
Interest paid | 1,334 | 1,547 |
Income taxes paid | 451 | 21 |
Supplemental Schedule of Non-Cash Activities | ||
Net change in fair value securities available for sale, net of tax | (6) | 506 |
Loans transferred to foreclosed real estate | 1,803 | 454 |
Mortgage servicing rights capitalized | 488 | 274 |
Net change in ESOP liability | $ (561) | 104 |
Exchange of unearned ESOP shares for ESOP debt | $ 973 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [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”), Uwharrie Investment Advisors, Inc. (“UIA”), 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 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 (Loss)
Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Comprehensive Income (Loss) | Note 2 – Comprehensive Income (Loss) 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 and nine months ended September 30, 2015 and 2014: Unrealized holding gains on available-for-sale securities (net) Three Months Ended Nine Months Ended 2015 2014 2015 2014 (dollars in thousands) Beginning Balance $ (68 ) $ 252 $ 305 $ (562 ) Other Comprehensive income (loss) before reclassifications, net of $188,000 $28,000, ($191,000) and ($197,000) tax effect, respectively 367 (305 ) 302 522 Amounts reclassified from accumulated Other comprehensive income, net of $2,000, $194,000 and $10,000 tax effect — (3 ) (308 ) (16 ) Net current-period other comprehensive Income (loss) 367 (308 ) (6 ) 506 Ending Balance $ 299 $ (56 ) $ 299 $ (56 ) |
Noncontrolling Interest
Noncontrolling Interest | 9 Months Ended |
Sep. 30, 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 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 | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Per Share Data | Note 4 – Per Share Data On October 20, 2015, the Company’s Board of Directors declared a 2% stock dividend payable on November 19, 2015 to shareholders of record on November 3, 2015. All information presented in the accompanying interim consolidated financial statements regarding earnings per share and weighted average number of shares outstanding has been computed giving effect to this stock dividend. 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 12,859 shares of common stock at both September 30, 2015 and December 31, 2014. All of these options were anti-dilutive. 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 shares outstanding used in the calculation of basic and dilutive earnings per share are summarized below: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Weighted average number of common shares outstanding 7,034,958 7,456,372 7,073,046 7,473,496 Effect of ESOP shares — — — — Adjusted weighted average number of common shares used in computing basic net income per common share 7,034,958 7,456,372 7,073,046 7,473,496 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 7,034,958 7,456,372 7,073,046 7,473,496 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 were 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 | 9 Months Ended |
Sep. 30, 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: September 30, 2015 Amortized Gross Gross Fair (dollars in thousands) Securities available for sale U.S. Treasury $ 7,038 $ 79 $ — $ 7,117 U.S. Government agencies 36,536 266 54 36,748 GSE - Mortgage-backed securities and CMO’s 31,715 141 213 31,643 State and political subdivisions 13,748 277 6 14,019 Corporate bonds 7,437 — 37 7,400 Total securities available for sale $ 96,474 $ 763 $ 310 $ 96,927 September 30, 2015 Amortized Gross Gross Fair (dollars in thousands) Securities held to maturity U.S. Government agencies $ 1,915 $ — $ 1 $ 1,914 State and political subdivisions 6,003 14 22 5,995 Corporate bonds 3,356 11 — 3,367 Total securities held to maturity $ 11,274 $ 25 $ 23 $ 11,276 December 31, 2014 Amortized Gross Gross Fair (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 December 31, 2014 Amortized Gross Gross Fair (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 September 30, 2015 and December 31, 2014, the Company owned Federal Reserve Bank stock reported at cost of $507,000 and $506,000, respectively. Also at September 30, 2015 and December 31, 2014, the Company owned Federal Home Loan Bank Stock (FHLB) of $533,000 and $532,000, 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 September 30, 2015. Results from sales and calls of securities available for sale for the three and nine month periods ended September 30, 2015 and September 30, 2014 are as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (dollars in thousands) Gross proceeds from sales and calls $ — $ 4,405 $ 29,739 $ 4,733 Realized gains from sales and calls $ — $ 5 $ 502 $ 26 Realized losses from sales and calls — — — — Net Realized gains $ — $ 5 $ 502 $ 26 At September 30, 2015 and December 31, 2014, securities available for sale with a carrying amount of $71.6 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 September 30, 2015 and December 31, 2014. We believe these unrealized losses on investment securities are a result of a volatile market and fluctuations in market prices due to a rise in interest rates, which will adjust if rates decline. Management does not believe these fluctuations are a reflection of the quality of the investments. At September 30, 2015, the unrealized losses on available for sale securities less than twelve months related to two government agency bonds, six government sponsored enterprise (GSE) mortgage backed securities and three corporate bonds. The Company had five government agency bonds, four GSE mortgage backed securities and one corporate bond that had been in a loss position for more than twelve months. At September 30, 2015, the unrealized losses on held to maturity securities related to one government agency security and five state and political subdivision 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 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 September 30, 2015 Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Securities available for sale temporary impairment U.S. Gov’t agencies $ 1,513 $ 4 $ 4,648 $ 50 $ 6,161 $ 54 GSE-Mortgage-backed securities and CMO’s 13,532 65 7,686 148 21,218 213 State & political subdivisions 466 6 — — 466 6 Corporate bonds 6,601 21 799 16 7,400 37 Total securities available for sale $ 22,112 $ 96 $ 13,133 $ 214 $ 35,245 $ 310 Less than 12 Months 12 Months or More Total September 30, 2015 Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Held to maturity temporary impairment U.S. Gov’t agencies $ 1,914 $ 1 $ — $ — $ 1,914 $ 1 State & political subdivisions 3,209 22 — — 3,209 22 Total securities held to maturity $ 5,123 $ 23 $ — $ — $ 5,123 $ 23 Less than 12 Months 12 Months or More Total December 31, 2014 Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (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 December 31, 2014 Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (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 five government agency securities, four GSE mortgage backed securities and one corporate bond that had been in a loss position for more than twelve months as of September 30, 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 September 30, 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 September 30, 2015 by remaining contractual maturity are as follows: September 30, 2015 Amortized Estimated Book (dollars in thousands) Securities available for sale U. S. Treasury Due within twelve months 3,010 3,066 2.80 % Due after one but within five years 4,028 4,051 1.13 % 7,038 7,117 1.84 % U.S. Government agencies Due after one but within five years 27,704 27,963 1.43 % Due after five but within ten years 1,376 1,381 0.76 % Due after ten years 7,456 7,404 1.68 % 36,536 36,748 1.45 % Mortgage-backed securities Due after one but within five years 3,467 3,445 1.69 % Due after five but within ten years 4,260 4,313 2.23 % Due after ten years 23,988 23,885 1.92 % 31,715 31,643 1.94 % State and political subdivisions Due within twelve months 472 479 5.77 % Due after one but within five years 1,896 2,022 4.77 % Due after five but within ten years 2,823 2,852 4.43 % Due after ten years 8,557 8,666 3.79 % 13,748 14,019 4.12 % Corporate Bonds Due within twelve months 2,401 2,400 1.16 % Due after one but within five years 2,815 2,798 1.79 % Due after five but within ten years 2,221 2,202 1.21 % 7,437 7,400 1.41 % Total Securities available for sale Due within twelve months 5,883 5,945 2.37 % Due after one but within five years 39,910 40,279 1.60 % Due after five but within ten years 10,680 10,748 2.41 % Due after ten years 40,001 39,955 2.28 % $ 96,474 $ 96,927 2.02 % September 30, 2015 Amortized Estimated Book (dollars in thousands) Held to maturity U. S. Government agencies Due after five but within ten years 1,915 1,914 2.39 % 1,915 1,914 2.39 % State and political subdivisions Due after one but within five years 1,533 1,536 2.24 % Due after five but within ten years 4,470 4,459 2.89 % 6,003 5,995 2.68 % Corporate Bonds Due after one but within five years 3,356 3,367 2.76 % 3,356 3,367 2.76 % Total Securities held for maturity Due after one but within five years 1,533 1,536 2.60 % Due after five but within ten years 9,741 9,740 2.74 % $ 11,274 $ 11,276 2.68 % |
Loans Held for Investment
Loans Held for Investment | 9 Months Ended |
Sep. 30, 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 September 30, 2015 and December 31, 2014 are as follows: September 30, December 31, (dollars in thousands) Commercial Commercial $ 51,417 $ 47,418 Real estate - commercial 101,839 92,517 Other real estate construction loans 16,541 22,362 Noncommercial Real estate 1 - 4 family construction 4,635 3,888 Real estate - residential 88,202 89,374 Home equity 49,553 46,360 Consumer loans 9,031 8,460 Other loans 1,557 481 322,775 310,860 Less: Allowance for loan losses (2,961 ) (3,738 ) Deferred loan (fees) costs, net 41 (7 ) Loans held for investment, net $ 319,855 $ 307,115 |
Allowance for Loan Losses
Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 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 and nine month period ended September 30, 2015 and 2014, respectively: Commercial Three Months Ended Nine Months Ended 2015 2014 2015 2014 (dollars in thousands) Balance, beginning of period $ 1,553 $ 1,570 $ 1,716 $ 2,665 Provision (recovery) charged to operations (212 ) 33 (501 ) (378 ) Charge-offs (18 ) — (79 ) (744 ) Recoveries 10 35 197 95 Net (charge-offs) (8 ) 35 118 (649 ) Other — — — — Balance at end of period $ 1,333 $ 1,638 $ 1,333 $ 1,638 Non-Commercial Three Months Ended Nine Months Ended 2015 2014 2015 2014 (dollars in thousands) Balance, beginning of period $ 1,774 $ 2,130 $ 2,022 $ 2,430 Provision (recovery) charged to operations (111 ) (304 ) (119 ) (378 ) Charge-offs (84 ) (60 ) (385 ) (357 ) Recoveries 49 62 110 133 Net (charge-offs) (35 ) 2 (275 ) (224 ) Other — — — — Balance at end of period $ 1,628 $ 1,828 $ 1,628 $ 1,828 Total Three Months Ended Nine Months Ended 2015 2014 2015 2014 (dollars in thousands) Balance, beginning of period $ 3,327 $ 3,700 $ 3,738 $ 5,095 Provision (recovery) charged to operations (323 ) (271 ) (620 ) (756 ) Charge-offs (102 ) (60 ) (464 ) (1,101 ) Recoveries 59 97 307 228 Net (charge-offs) (43 ) 37 (157 ) (873 ) Other — — — — Balance at end of period $ 2,961 $ 3,466 $ 2,961 $ 3.466 During the third quarter of 2015, the Company made a change to their Allowance for Loan Loss methodology model. One of the components utilized in the model is Beacon 5 scores. During the third quarter, this was changed to FICO 9 scores. Refer to the Asset Quality discussion on page 38 for further information. The following table shows period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at September 30, 2015 and December 31, 2014: September 30, 2015 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 12 $ 1,195 $ 1,321 $ 168,602 $ 1,333 $ 169,797 Non-Commercial 179 4,519 1,449 148,500 1,628 153,019 Total $ 191 $ 5,714 $ 2,770 $ 317,102 $ 2,961 $ 322,816 December 31, 2014 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: September 30, 2015 Loans 30-89 Days Loans Total Past Current Total Accruing (dollars in thousands) Commercial $ 41 $ 34 $ 75 $ 51,342 $ 51,417 $ — Real estate - commercial 536 — 536 101,303 101,839 — Other real estate construction — 216 216 16,325 16,541 — Real estate 1 - 4 family construction — — — 4,635 4,635 — Real estate - residential 1,733 846 2,579 85,664 88,243 — Home equity 85 34 119 49,434 49,553 — Consumer loans 112 — 112 8,919 9,031 — Other loans — — — 1,557 1,557 — Total $ 2,507 $ 1,130 $ 3,637 $ 319,179 $ 322,816 $ — December 31, 2014 Loans 30-89 Days Loans Total Past Current Total Accruing (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 September 30, 2015 and December 31, 2014 is as follows: September 30, December 31, (dollars in thousands) Commercial $ 34 $ — Real estate - commercial — 794 Other real estate construction 216 342 Real estate 1 - 4 family construction — — Real estate - residential 846 1,097 Home equity 34 13 Consumer loans — — Other loans — — $ 1,130 $ 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 Watch Substandard Doubtful: Loss: The tables below summarize risk grades of the loan portfolio by class at September 30, 2015 and December 31, 2014: September 30, 2015 Pass Watch Sub- Doubtful Total (dollars in thousands) Commercial $ 51,239 $ 91 $ 87 $ — $ 51,417 Real estate - commercial 95,240 3,555 3,044 — 101,839 Other real estate construction 14,014 1,971 556 — 16,541 Real estate 1 - 4 family construction 4,532 103 — — 4,635 Real estate - residential 76,277 9,652 2,314 — 88,243 Home equity 48,294 1,135 124 — 49,553 Consumer loans 8,626 400 5 — 9,031 Other loans 1,557 — — — 1,557 Total $ 299,779 $ 16,907 $ 6,130 $ — $ 322,816 December 31, 2014 Pass Watch Sub- Doubtful Total (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 September 30, 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 September 30, 2015 and December 31, 2014: September 30, 2015 Performing Non- Total (dollars in thousands) Commercial $ 51,383 $ 34 $ 51,417 Real estate - commercial 101,839 — 101,839 Other real estate construction 16,325 216 16,541 Real estate 1 - 4 family construction 4,635 — 4,635 Real estate - residential 87,397 846 88,243 Home equity 49,519 34 49,553 Consumer loans 9,031 — 9,031 Other loans 1,557 — 1,557 Total $ 321,686 $ 1,130 $ 322,816 December 31, 2014 Performing Non- Total (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 September 30, 2015 and December 31, 2014. September 30, 2015 Unpaid Recorded Recorded Related (dollars in thousands) Commercial $ 82 $ 82 $ — $ — Real estate - commercial 845 545 300 9 Other real estate construction 806 216 52 3 Real estate 1 - 4 family construction 15 — 15 1 Real estate - residential 4,431 1,651 2,780 171 Home equity 50 29 21 7 Consumer loans 23 23 — — Other loans — — — — Total $ 6,252 $ 2,546 $ 3,168 $ 191 December 31, 2014 Unpaid Recorded Recorded Related (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 Average Interest Average Interest (dollars in thousands) Commercial $ 83 $ — $ 102 $ 1 Real estate - commercial 968 14 1,754 19 Other real estate construction 270 1 1,058 2 Real estate 1 - 4 family construction 16 1 21 — Real estate - residential 4,639 53 5,379 43 Home equity 51 — 32 1 Consumer loans 24 — 77 3 Other loans — — — — Total $ 6,051 $ 69 $ 8,423 $ 69 Nine Months ended Nine Months ended Average Interest Average Interest (dollars in thousands) Commercial $ 81 $ 3 $ 123 $ 4 Real estate - commercial 1,374 42 2,978 54 Other real estate construction 304 2 1,346 2 Real estate 1 - 4 family construction 18 1 138 1 Real estate - residential 5,037 154 6,054 156 Home equity 55 1 81 1 Consumer loans 36 1 87 5 Other loans — — — — Total $ 6,905 $ 204 $ 10,807 $ 223 |
Troubled Debt Restructures
Troubled Debt Restructures | 9 Months Ended |
Sep. 30, 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 September 30, 2015, the Company had $4.8 million in TDR’s outstanding, of which all were on an accruing basis. For the three and nine months ended September 30, 2015 and 2014, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended September 30, 2015 Number Pre-Modification Post-Modification (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 - 4 family construction — — — Real estate - residential 1 76 76 Consumer loans — — — Other loans — — — 1 $ 76 $ 76 Total 1 $ 76 $ 76 For the three months ended September 30, 2014 Number Pre-Modification Post-Modification (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial 1 187 187 Other real estate construction — — — Real estate 1 - 4 family construction — — — Real estate - residential 1 18 18 Home equity — — — Consumer loans — — — Other loans — — — Total 2 $ 205 $ 205 For the nine months ended September 30, 2015 Number Pre-Modification Post-Modification (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 — — — Other loans — — — Total — $ — $ — Other: Commercial 1 $ 48 $ 29 Real estate - commercial 1 265 123 Other real estate construction — — — Real estate 1 - 4 family construction — — — Real estate - residential 5 482 471 Home equity — — — Consumer loans — — — Other loans — — — Total 7 $ 795 $ 623 Total 7 $ 795 $ 623 For the nine months ended September 30, 2014 Number Pre-Modification Post-Modification (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 32 30 Other loans — — — Total 1 $ 32 $ 30 Other: Commercial — $ — $ — Real estate - commercial 2 299 298 Other real estate construction — — — Real estate 1 - 4 family construction — — — Real estate - residential 5 636 632 Home equity — — — Consumer loans — — — Other loans — — — Total 7 935 930 Total 8 $ 967 $ 960 During the twelve months ended September 30, 2015 and September 30, 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 $188,000 in the allowance for loan loss as of September 30, 2015, as a direct result of these TDRs. At September 30, 2014, there was $59,000 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 September 30, 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 (dollars in thousands) September 30, 2015 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal Other — — 7 795 — — — — Total — $ — 7 $ 795 — $ — — $ — Paid In Full Paying as restructured Converted to nonaccrual Foreclosure/ Default Number of Recorded Number of Recorded Number of Recorded Number of Recorded (dollars in thousands) September 30, 2014 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — 1 30 — — — — Forgiveness of Principal Other — — 9 1,084 — — — — Total — $ — 10 $ 1,114 — $ — — $ — The Company has not committed to fund any additional disbursements for TDRs. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 9 - Commitments and Contingencies The 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 September 30, 2015, outstanding financial instruments whose contract amounts represent credit risk were approximately: (dollars in thousands) Commitments to extend credit $ 74,972 Credit card commitments 8,951 Standby letters of credit 2,376 Total commitments $ 86,299 |
Fair Value Disclosures
Fair Value Disclosures | 9 Months Ended |
Sep. 30, 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 migration of securities between levels. 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 The following table provides fair value information for assets and liabilities measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014: September 30, 2015 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: US Treasury $ 7,117 $ 7,117 $ — $ — US Government Agencies 36,748 — 36,748 — GSE - Mortgage-backed securities and CMO’s 31,643 — 31,643 — State and political subdivisions 14,019 — 14,019 — Corporate bonds 7,400 — 7,400 — Total assets at fair value $ 96,927 $ 7,117 $ 89,810 $ — 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 GAAP. These include assets that are measured at the lower of cost or market that were recognized at fair value less cost to sell at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below as of September 30, 2015 and December 31, 2014: September 30, 2015 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,371 $ — $ — $ 3,371 Other real estate owned 2,856 — — 2,856 Total assets at fair value $ 6,227 $ — $ — $ 6,227 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 September 30, 2015 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Expected loss rates 0 – 25% Discounted cash flows Discount rates 4% – 8.75% 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 Expected loss rates 0 – 25% Discounted cash flows Discount rates 4% – 8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% At September 30, 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 Instru
Fair Values of Financial Instruments and Interest Rate Risk | 9 Months Ended |
Sep. 30, 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 September 30, 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 at which an asset could be sold 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 September 30, 2015 and December 31, 2014: September 30, 2015 Carrying Estimated Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 58,270 $ 58,341 $ 54,535 $ 3,806 $ — Securities available for sale 96,927 96,927 7,117 89,810 — Securities held to maturity 11,274 11,276 — 11,276 — Loans held for investment, net 319,855 317,590 — — 317,590 Loans held for sale 418 418 — 418 — Restricted stock 1,040 1,040 1,040 — — Accrued interest receivable 1,466 1,466 — — 1,466 FINANCIAL LIABILITIES Deposits $ 462,349 $ 435,613 $ — $ 435,613 $ — Short-term borrowings 5,232 5,232 — 5,232 — Long-term borrowings 16 16 — 16 — Junior subordinated debt 9,534 9,695 — — 9,691 Accrued interest payable 176 176 — — 176 December 31, 2014 Carrying Estimated Level 1 Level 2 Level 3 (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 — — 9,703 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. Time deposits are recorded in Level 2. • 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. • Securities held to maturity – Securities held to maturity are carried at amortized cost and are recorded in Level 2. Also see 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 2. 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 September 30, 2015, the 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 Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 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 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 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 had $2.2 million in foreclosed residential real estate and $295,000 of residential real estate in process of foreclosure at September 30, 2015. 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. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Use of Estimates | Use of Estimates The preparation of financial statements, in conformity 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 (Loss) (Ta
Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | The following table presents the changes in accumulated other comprehensive income for the three and nine months ended September 30, 2015 and 2014: Unrealized holding gains on available-for-sale securities (net) Three Months Ended Nine Months Ended 2015 2014 2015 2014 (dollars in thousands) Beginning Balance $ (68 ) $ 252 $ 305 $ (562 ) Other Comprehensive income (loss) before reclassifications, net of $188,000 $28,000, ($191,000) and ($197,000) tax effect, respectively 367 (305 ) 302 522 Amounts reclassified from accumulated Other comprehensive income, net of $2,000, $194,000 and $10,000 tax effect — (3 ) (308 ) (16 ) Net current-period other comprehensive Income (loss) 367 (308 ) (6 ) 506 Ending Balance $ 299 $ (56 ) $ 299 $ (56 ) |
Per Share Data (Tables)
Per Share Data (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Computation of Shares Outstanding Used in the Calculation of Basic and Dilutive Earnings Per Share | The computation of shares outstanding used in the calculation of basic and dilutive earnings per share are summarized below: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Weighted average number of common shares outstanding 7,034,958 7,456,372 7,073,046 7,473,496 Effect of ESOP shares — — — — Adjusted weighted average number of common shares used in computing basic net income per common share 7,034,958 7,456,372 7,073,046 7,473,496 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 7,034,958 7,456,372 7,073,046 7,473,496 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 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: September 30, 2015 Amortized Gross Gross Fair (dollars in thousands) Securities available for sale U.S. Treasury $ 7,038 $ 79 $ — $ 7,117 U.S. Government agencies 36,536 266 54 36,748 GSE - Mortgage-backed securities and CMO’s 31,715 141 213 31,643 State and political subdivisions 13,748 277 6 14,019 Corporate bonds 7,437 — 37 7,400 Total securities available for sale $ 96,474 $ 763 $ 310 $ 96,927 September 30, 2015 Amortized Gross Gross Fair (dollars in thousands) Securities held to maturity U.S. Government agencies $ 1,915 $ — $ 1 $ 1,914 State and political subdivisions 6,003 14 22 5,995 Corporate bonds 3,356 11 — 3,367 Total securities held to maturity $ 11,274 $ 25 $ 23 $ 11,276 December 31, 2014 Amortized Gross Gross Fair (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 December 31, 2014 Amortized Gross Gross Fair (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 and nine month periods ended September 30, 2015 and September 30, 2014 are as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (dollars in thousands) Gross proceeds from sales and calls $ — $ 4,405 $ 29,739 $ 4,733 Realized gains from sales and calls $ — $ 5 $ 502 $ 26 Realized losses from sales and calls — — — — Net Realized gains $ — $ 5 $ 502 $ 26 |
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 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 September 30, 2015 Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Securities available for sale temporary impairment U.S. Gov’t agencies $ 1,513 $ 4 $ 4,648 $ 50 $ 6,161 $ 54 GSE-Mortgage-backed securities and CMO’s 13,532 65 7,686 148 21,218 213 State & political subdivisions 466 6 — — 466 6 Corporate bonds 6,601 21 799 16 7,400 37 Total securities available for sale $ 22,112 $ 96 $ 13,133 $ 214 $ 35,245 $ 310 Less than 12 Months 12 Months or More Total September 30, 2015 Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (dollars in thousands) Held to maturity temporary impairment U.S. Gov’t agencies $ 1,914 $ 1 $ — $ — $ 1,914 $ 1 State & political subdivisions 3,209 22 — — 3,209 22 Total securities held to maturity $ 5,123 $ 23 $ — $ — $ 5,123 $ 23 Less than 12 Months 12 Months or More Total December 31, 2014 Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (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 December 31, 2014 Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized (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 September 30, 2015 by remaining contractual maturity are as follows: September 30, 2015 Amortized Estimated Book (dollars in thousands) Securities available for sale U. S. Treasury Due within twelve months 3,010 3,066 2.80 % Due after one but within five years 4,028 4,051 1.13 % 7,038 7,117 1.84 % U.S. Government agencies Due after one but within five years 27,704 27,963 1.43 % Due after five but within ten years 1,376 1,381 0.76 % Due after ten years 7,456 7,404 1.68 % 36,536 36,748 1.45 % Mortgage-backed securities Due after one but within five years 3,467 3,445 1.69 % Due after five but within ten years 4,260 4,313 2.23 % Due after ten years 23,988 23,885 1.92 % 31,715 31,643 1.94 % State and political subdivisions Due within twelve months 472 479 5.77 % Due after one but within five years 1,896 2,022 4.77 % Due after five but within ten years 2,823 2,852 4.43 % Due after ten years 8,557 8,666 3.79 % 13,748 14,019 4.12 % Corporate Bonds Due within twelve months 2,401 2,400 1.16 % Due after one but within five years 2,815 2,798 1.79 % Due after five but within ten years 2,221 2,202 1.21 % 7,437 7,400 1.41 % Total Securities available for sale Due within twelve months 5,883 5,945 2.37 % Due after one but within five years 39,910 40,279 1.60 % Due after five but within ten years 10,680 10,748 2.41 % Due after ten years 40,001 39,955 2.28 % $ 96,474 $ 96,927 2.02 % |
Amortized Cost and Fair Value of Held to Maturity Securities Portfolio | September 30, 2015 Amortized Estimated Book (dollars in thousands) Held to maturity U. S. Government agencies Due after five but within ten years 1,915 1,914 2.39 % 1,915 1,914 2.39 % State and political subdivisions Due after one but within five years 1,533 1,536 2.24 % Due after five but within ten years 4,470 4,459 2.89 % 6,003 5,995 2.68 % Corporate Bonds Due after one but within five years 3,356 3,367 2.76 % 3,356 3,367 2.76 % Total Securities held for maturity Due after one but within five years 1,533 1,536 2.60 % Due after five but within ten years 9,741 9,740 2.74 % $ 11,274 $ 11,276 2.68 % |
Loans Held for Investment (Tabl
Loans Held for Investment (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Composition of Net Loans Held for Investment by Class | The composition of net loans held for investment by class as of September 30, 2015 and December 31, 2014 are as follows: September 30, December 31, (dollars in thousands) Commercial Commercial $ 51,417 $ 47,418 Real estate - commercial 101,839 92,517 Other real estate construction loans 16,541 22,362 Noncommercial Real estate 1 - 4 family construction 4,635 3,888 Real estate - residential 88,202 89,374 Home equity 49,553 46,360 Consumer loans 9,031 8,460 Other loans 1,557 481 322,775 310,860 Less: Allowance for loan losses (2,961 ) (3,738 ) Deferred loan (fees) costs, net 41 (7 ) Loans held for investment, net $ 319,855 $ 307,115 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 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 and nine month period ended September 30, 2015 and 2014, respectively: Commercial Three Months Ended Nine Months Ended 2015 2014 2015 2014 (dollars in thousands) Balance, beginning of period $ 1,553 $ 1,570 $ 1,716 $ 2,665 Provision (recovery) charged to operations (212 ) 33 (501 ) (378 ) Charge-offs (18 ) — (79 ) (744 ) Recoveries 10 35 197 95 Net (charge-offs) (8 ) 35 118 (649 ) Other — — — — Balance at end of period $ 1,333 $ 1,638 $ 1,333 $ 1,638 Non-Commercial Three Months Ended Nine Months Ended 2015 2014 2015 2014 (dollars in thousands) Balance, beginning of period $ 1,774 $ 2,130 $ 2,022 $ 2,430 Provision (recovery) charged to operations (111 ) (304 ) (119 ) (378 ) Charge-offs (84 ) (60 ) (385 ) (357 ) Recoveries 49 62 110 133 Net (charge-offs) (35 ) 2 (275 ) (224 ) Other — — — — Balance at end of period $ 1,628 $ 1,828 $ 1,628 $ 1,828 Total Three Months Ended Nine Months Ended 2015 2014 2015 2014 (dollars in thousands) Balance, beginning of period $ 3,327 $ 3,700 $ 3,738 $ 5,095 Provision (recovery) charged to operations (323 ) (271 ) (620 ) (756 ) Charge-offs (102 ) (60 ) (464 ) (1,101 ) Recoveries 59 97 307 228 Net (charge-offs) (43 ) 37 (157 ) (873 ) Other — — — — Balance at end of period $ 2,961 $ 3,466 $ 2,961 $ 3.466 |
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 September 30, 2015 and December 31, 2014: September 30, 2015 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 12 $ 1,195 $ 1,321 $ 168,602 $ 1,333 $ 169,797 Non-Commercial 179 4,519 1,449 148,500 1,628 153,019 Total $ 191 $ 5,714 $ 2,770 $ 317,102 $ 2,961 $ 322,816 December 31, 2014 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: September 30, 2015 Loans 30-89 Days Loans Total Past Current Total Accruing (dollars in thousands) Commercial $ 41 $ 34 $ 75 $ 51,342 $ 51,417 $ — Real estate - commercial 536 — 536 101,303 101,839 — Other real estate construction — 216 216 16,325 16,541 — Real estate 1 - 4 family construction — — — 4,635 4,635 — Real estate - residential 1,733 846 2,579 85,664 88,243 — Home equity 85 34 119 49,434 49,553 — Consumer loans 112 — 112 8,919 9,031 — Other loans — — — 1,557 1,557 — Total $ 2,507 $ 1,130 $ 3,637 $ 319,179 $ 322,816 $ — December 31, 2014 Loans 30-89 Days Loans Total Past Current Total Accruing (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 September 30, 2015 and December 31, 2014 is as follows: September 30, December 31, (dollars in thousands) Commercial $ 34 $ — Real estate - commercial — 794 Other real estate construction 216 342 Real estate 1 - 4 family construction — — Real estate - residential 846 1,097 Home equity 34 13 Consumer loans — — Other loans — — $ 1,130 $ 2,246 |
Summary of Risk Grades of Portfolio by Class | The tables below summarize risk grades of the loan portfolio by class at September 30, 2015 and December 31, 2014: September 30, 2015 Pass Watch Sub- Doubtful Total (dollars in thousands) Commercial $ 51,239 $ 91 $ 87 $ — $ 51,417 Real estate - commercial 95,240 3,555 3,044 — 101,839 Other real estate construction 14,014 1,971 556 — 16,541 Real estate 1 - 4 family construction 4,532 103 — — 4,635 Real estate - residential 76,277 9,652 2,314 — 88,243 Home equity 48,294 1,135 124 — 49,553 Consumer loans 8,626 400 5 — 9,031 Other loans 1,557 — — — 1,557 Total $ 299,779 $ 16,907 $ 6,130 $ — $ 322,816 December 31, 2014 Pass Watch Sub- Doubtful Total (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 September 30, 2015 and December 31, 2014: September 30, 2015 Performing Non- Total (dollars in thousands) Commercial $ 51,383 $ 34 $ 51,417 Real estate - commercial 101,839 — 101,839 Other real estate construction 16,325 216 16,541 Real estate 1 - 4 family construction 4,635 — 4,635 Real estate - residential 87,397 846 88,243 Home equity 49,519 34 49,553 Consumer loans 9,031 — 9,031 Other loans 1,557 — 1,557 Total $ 321,686 $ 1,130 $ 322,816 December 31, 2014 Performing Non- Total (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 September 30, 2015 and December 31, 2014. September 30, 2015 Unpaid Recorded Recorded Related (dollars in thousands) Commercial $ 82 $ 82 $ — $ — Real estate - commercial 845 545 300 9 Other real estate construction 806 216 52 3 Real estate 1 - 4 family construction 15 — 15 1 Real estate - residential 4,431 1,651 2,780 171 Home equity 50 29 21 7 Consumer loans 23 23 — — Other loans — — — — Total $ 6,252 $ 2,546 $ 3,168 $ 191 December 31, 2014 Unpaid Recorded Recorded Related (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 Average Interest Average Interest (dollars in thousands) Commercial $ 83 $ — $ 102 $ 1 Real estate - commercial 968 14 1,754 19 Other real estate construction 270 1 1,058 2 Real estate 1 - 4 family construction 16 1 21 — Real estate - residential 4,639 53 5,379 43 Home equity 51 — 32 1 Consumer loans 24 — 77 3 Other loans — — — — Total $ 6,051 $ 69 $ 8,423 $ 69 Nine Months ended Nine Months ended Average Interest Average Interest (dollars in thousands) Commercial $ 81 $ 3 $ 123 $ 4 Real estate - commercial 1,374 42 2,978 54 Other real estate construction 304 2 1,346 2 Real estate 1 - 4 family construction 18 1 138 1 Real estate - residential 5,037 154 6,054 156 Home equity 55 1 81 1 Consumer loans 36 1 87 5 Other loans — — — — Total $ 6,905 $ 204 $ 10,807 $ 223 |
Troubled Debt Restructures (Tab
Troubled Debt Restructures (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Breakdown of Types of Concessions Made by Loan Class | For the three and nine months ended September 30, 2015 and 2014, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended September 30, 2015 Number Pre-Modification Post-Modification (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 - 4 family construction — — — Real estate - residential 1 76 76 Consumer loans — — — Other loans — — — 1 $ 76 $ 76 Total 1 $ 76 $ 76 For the three months ended September 30, 2014 Number Pre-Modification Post-Modification (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial 1 187 187 Other real estate construction — — — Real estate 1 - 4 family construction — — — Real estate - residential 1 18 18 Home equity — — — Consumer loans — — — Other loans — — — Total 2 $ 205 $ 205 For the nine months ended September 30, 2015 Number Pre-Modification Post-Modification (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 — — — Other loans — — — Total — $ — $ — Other: Commercial 1 $ 48 $ 29 Real estate - commercial 1 265 123 Other real estate construction — — — Real estate 1 - 4 family construction — — — Real estate - residential 5 482 471 Home equity — — — Consumer loans — — — Other loans — — — Total 7 $ 795 $ 623 Total 7 $ 795 $ 623 For the nine months ended September 30, 2014 Number Pre-Modification Post-Modification (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 32 30 Other loans — — — Total 1 $ 32 $ 30 Other: Commercial — $ — $ — Real estate - commercial 2 299 298 Other real estate construction — — — Real estate 1 - 4 family construction — — — Real estate - residential 5 636 632 Home equity — — — Consumer loans — — — Other loans — — — Total 7 935 930 Total 8 $ 967 $ 960 |
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 September 30, 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 (dollars in thousands) September 30, 2015 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal Other — — 7 795 — — — — Total — $ — 7 $ 795 — $ — — $ — Paid In Full Paying as restructured Converted to nonaccrual Foreclosure/ Default Number of Recorded Number of Recorded Number of Recorded Number of Recorded (dollars in thousands) September 30, 2014 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — 1 30 — — — — Forgiveness of Principal Other — — 9 1,084 — — — — Total — $ — 10 $ 1,114 — $ — — $ — |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk | At September 30, 2015, outstanding financial instruments whose contract amounts represent credit risk were approximately: (dollars in thousands) Commitments to extend credit $ 74,972 Credit card commitments 8,951 Standby letters of credit 2,376 Total commitments $ 86,299 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2015 and December 31, 2014: September 30, 2015 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: US Treasury $ 7,117 $ 7,117 $ — $ — US Government Agencies 36,748 — 36,748 — GSE - Mortgage-backed securities and CMO’s 31,643 — 31,643 — State and political subdivisions 14,019 — 14,019 — Corporate bonds 7,400 — 7,400 — Total assets at fair value $ 96,927 $ 7,117 $ 89,810 $ — 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 September 30, 2015 and December 31, 2014: September 30, 2015 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,371 $ — $ — $ 3,371 Other real estate owned 2,856 — — 2,856 Total assets at fair value $ 6,227 $ — $ — $ 6,227 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 September 30, 2015 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Expected loss rates 0 – 25% Discounted cash flows Discount rates 4% – 8.75% 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 Expected loss rates 0 – 25% Discounted cash flows Discount rates 4% – 8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% |
Fair Values of Financial Inst31
Fair Values of Financial Instruments and Interest Rate Risk (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2015 and December 31, 2014: September 30, 2015 Carrying Estimated Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 58,270 $ 58,341 $ 54,535 $ 3,806 $ — Securities available for sale 96,927 96,927 7,117 89,810 — Securities held to maturity 11,274 11,276 — 11,276 — Loans held for investment, net 319,855 317,590 — — 317,590 Loans held for sale 418 418 — 418 — Restricted stock 1,040 1,040 1,040 — — Accrued interest receivable 1,466 1,466 — — 1,466 FINANCIAL LIABILITIES Deposits $ 462,349 $ 435,613 $ — $ 435,613 $ — Short-term borrowings 5,232 5,232 — 5,232 — Long-term borrowings 16 16 — 16 — Junior subordinated debt 9,534 9,695 — — 9,691 Accrued interest payable 176 176 — — 176 December 31, 2014 Carrying Estimated Level 1 Level 2 Level 3 (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 — — 9,703 Accrued interest payable 180 180 — — 180 |
Comprehensive Income (Loss) - A
Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Equity [Abstract] | ||||
Beginning Balance | $ (68) | $ 252 | $ 305 | $ (562) |
Other Comprehensive income (loss) before reclassifications, net of $188,000 $28,000, ($191,000) and ($197,000) tax effect, respectively | 367 | (305) | 302 | 522 |
Amounts reclassified from accumulated Other comprehensive income, net of $2,000, $194,000 and $10,000 tax effect | (3) | (308) | (16) | |
Total other comprehensive income (loss) | 367 | (308) | (6) | 506 |
Ending Balance | $ 299 | $ (56) | $ 299 | $ (56) |
Comprehensive Income (Loss) -33
Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Parenthetical) (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Equity [Abstract] | ||||
Tax effect on Other Comprehensive income before reclassifications | $ (188,000) | $ 28,000 | $ (191,000) | $ (197,000) |
Tax effect on amount reclassified from accumulated Other comprehensive income | $ 2,000 | $ 194,000 | $ 10,000 |
Noncontrolling Interest - Addit
Noncontrolling Interest - Additional Information (Detail) - USD ($) $ in Millions | 1 Months Ended | 9 Months Ended | 12 Months Ended |
Jan. 31, 2013 | Sep. 30, 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 | $ 7.9 | ||
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 | $ 2.8 | ||
Dividends rate | 5.30% | ||
Voting rights | The preferred stock has no voting rights |
Per Share Data - Additional Inf
Per Share Data - Additional Information (Detail) - USD ($) | Oct. 20, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Feb. 28, 2014 | Dec. 31, 2013 | Dec. 31, 2010 |
Earnings Per Share Basic And Dilutive [Line Items] | ||||||
Stock dividend, percentage | 2.00% | |||||
Stock outstanding options not included in the computation of EPS | 12,859 | 12,859 | ||||
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 | |||||
Subsequent Events [Member] | ||||||
Earnings Per Share Basic And Dilutive [Line Items] | ||||||
Stock dividend, percentage | 2.00% | |||||
Dividends Payable, date declared | Oct. 20, 2015 | |||||
Dividends Payable, date to be paid | Nov. 19, 2015 | |||||
Dividends Payable, date of record | Nov. 3, 2015 | |||||
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 Shares Outstanding Used in the Calculation of Basic and Dilutive Earnings Per Share (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Earnings Per Share [Abstract] | ||||
Weighted average number of common shares outstanding | 7,034,958 | 7,456,372 | 7,073,046 | 7,473,496 |
Effect of ESOP shares | 0 | 0 | 0 | 0 |
Adjusted weighted average number of common shares used in computing basic net income per common share | 7,034,958 | 7,456,372 | 7,073,046 | 7,473,496 |
Effect of dilutive stock options | 0 | 0 | 0 | 0 |
Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per common share | 7,034,958 | 7,456,372 | 7,073,046 | 7,473,496 |
Investment Securities - Carryin
Investment Securities - Carrying Amounts and Fair Values of Securities Available for Sale and Held to Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 96,474 | $ 112,362 |
Available-for-sale Securities, Gross Unrealized Gains | 763 | 1,096 |
Available-for-sale Securities, Gross Unrealized Losses | 310 | 634 |
Available-for-sale Securities, Fair Value | 96,927 | 112,824 |
Held-to-maturity Securities, Amortized Cost | 11,274 | 5,496 |
Held-to-maturity Securities, Gross Unrealized Gains | 25 | |
Held-to-maturity Securities, Gross Unrealized Losses | 23 | 46 |
Held-to-maturity Securities, Fair Value | 11,276 | 5,450 |
Corporate Bonds [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 7,437 | 3,040 |
Available-for-sale Securities, Gross Unrealized Losses | 37 | 29 |
Available-for-sale Securities, Fair Value | 7,400 | 3,011 |
Held-to-maturity Securities, Amortized Cost | 3,356 | 3,411 |
Held-to-maturity Securities, Gross Unrealized Gains | 11 | |
Held-to-maturity Securities, Gross Unrealized Losses | 14 | |
Held-to-maturity Securities, Fair Value | 3,367 | 3,397 |
U.S. Treasury [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 7,038 | 19,030 |
Available-for-sale Securities, Gross Unrealized Gains | 79 | 362 |
Available-for-sale Securities, Gross Unrealized Losses | 6 | |
Available-for-sale Securities, Fair Value | 7,117 | 19,386 |
U.S. Government Agencies [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 36,536 | 50,969 |
Available-for-sale Securities, Gross Unrealized Gains | 266 | 96 |
Available-for-sale Securities, Gross Unrealized Losses | 54 | 290 |
Available-for-sale Securities, Fair Value | 36,748 | 50,775 |
Held-to-maturity Securities, Amortized Cost | 1,915 | 2,085 |
Held-to-maturity Securities, Gross Unrealized Losses | 1 | 32 |
Held-to-maturity Securities, Fair Value | 1,914 | 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 | 31,715 | 27,748 |
Available-for-sale Securities, Gross Unrealized Gains | 141 | 133 |
Available-for-sale Securities, Gross Unrealized Losses | 213 | 309 |
Available-for-sale Securities, Fair Value | 31,643 | 27,572 |
State and Political Subdivisions [Member] | ||
Schedule Of Available For Sale And Held To Maturity Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 13,748 | 11,575 |
Available-for-sale Securities, Gross Unrealized Gains | 277 | 505 |
Available-for-sale Securities, Gross Unrealized Losses | 6 | |
Available-for-sale Securities, Fair Value | 14,019 | $ 12,080 |
Held-to-maturity Securities, Amortized Cost | 6,003 | |
Held-to-maturity Securities, Gross Unrealized Gains | 14 | |
Held-to-maturity Securities, Gross Unrealized Losses | 22 | |
Held-to-maturity Securities, Fair Value | $ 5,995 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015USD ($)Security | Dec. 31, 2014USD ($)Security | |
Schedule of Available-for-sale Securities [Line Items] | ||
Federal Reserve stock owned by Company | $ | $ 507,000 | $ 506,000 |
Federal Home Loan Bank stock | $ | 533,000 | 532,000 |
Securities available for sale pledged as collateral on public deposits | $ | $ 71,600,000 | $ 84,700,000 |
Number of treasury note related to unrealized losses | 1 | |
Number of Government agency bond | 2 | 13 |
Number of mortgage backed securities related to unrealized losses | 6 | 8 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of mortgage backed securities | 1 | 2 |
Number of securities related to unrealized losses | 2 | |
Number of securities less than twelve months related to unrealized losses | 3 | |
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 | 5 | |
Number of securities related to unrealized losses | 1 | 1 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of securities related to unrealized losses | 5 |
Investment Securities - Sales a
Investment Securities - Sales and Calls of Securities Available for Sale (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Gross proceeds from sales and calls | $ 4,405 | $ 29,739 | $ 4,733 | |
Realized gains from sales and calls | 5 | 502 | 26 | |
Realized losses from sales and calls | $ 0 | 0 | 0 | 0 |
Net Realized gains | $ 5 | $ 502 | $ 26 |
Investment Securities - Gross U
Investment Securities - Gross Unrealized Losses and Fair Value of Investments (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | $ 22,112 | $ 17,834 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 96 | 62 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 13,133 | 31,944 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 214 | 572 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 35,245 | 49,778 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 310 | 634 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 5,123 | 5,450 |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 23 | 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 | 5,123 | 5,450 |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 23 | 46 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 6,601 | 3,011 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 21 | 29 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 799 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 16 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 7,400 | 3,011 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 37 | 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 | |
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 | 1,513 | 9,690 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 4 | 23 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 4,648 | 17,776 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 50 | 267 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 6,161 | 27,466 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 54 | 290 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 1,914 | 2,053 |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 1 | 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 | 1,914 | 2,053 |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 1 | 32 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 466 | |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 6 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 466 | |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 6 | |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 3,209 | |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 22 | |
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 | 3,209 | |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 22 | |
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 | 13,532 | 1,990 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 65 | 4 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 7,686 | 14,168 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 148 | 305 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 21,218 | 16,158 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | $ 213 | $ 309 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Fair Value of Available for Sale Securities Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized Cost | $ 5,883 | |
Due after one but within five years, Amortized Cost | 39,910 | |
Due after five but within ten years, Amortized Cost | 10,680 | |
Due after ten years, Amortized Cost | 40,001 | |
Available-for-sale Securities, Amortized Cost | 96,474 | $ 112,362 |
Due within twelve months, Estimated Fair Value | 5,945 | |
Due after one but within five years, Estimated Fair Value | 40,279 | |
Due after five but within ten years, Estimated Fair Value | 10,748 | |
Due after ten years, Estimated Fair Value | 39,955 | |
Fair Value | $ 96,927 | 112,824 |
Due within twelve months, Book Yield | 2.37% | |
Due after one but within five years, Book Yield | 1.60% | |
Due after five but within ten years, Book Yield | 2.41% | |
Due after ten years, Book Yield | 2.28% | |
Total securities available for sale, Book Yield | 2.02% | |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized Cost | $ 2,401 | |
Due after one but within five years, Amortized Cost | 2,815 | |
Due after five but within ten years, Amortized Cost | 2,221 | |
Available-for-sale Securities, Amortized Cost | 7,437 | 3,040 |
Due within twelve months, Estimated Fair Value | 2,400 | |
Due after one but within five years, Estimated Fair Value | 2,798 | |
Due after five but within ten years, Estimated Fair Value | 2,202 | |
Fair Value | $ 7,400 | 3,011 |
Due within twelve months, Book Yield | 1.16% | |
Due after one but within five years, Book Yield | 1.79% | |
Due after five but within ten years, Book Yield | 1.21% | |
Total securities available for sale, Book Yield | 1.41% | |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized Cost | $ 3,010 | |
Due after one but within five years, Amortized Cost | 4,028 | |
Available-for-sale Securities, Amortized Cost | 7,038 | 19,030 |
Due within twelve months, Estimated Fair Value | 3,066 | |
Due after one but within five years, Estimated Fair Value | 4,051 | |
Fair Value | $ 7,117 | 19,386 |
Due within twelve months, Book Yield | 2.80% | |
Due after one but within five years, Book Yield | 1.13% | |
Total securities available for sale, Book Yield | 1.84% | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 27,704 | |
Due after five but within ten years, Amortized Cost | 1,376 | |
Due after ten years, Amortized Cost | 7,456 | |
Available-for-sale Securities, Amortized Cost | 36,536 | 50,969 |
Due after one but within five years, Estimated Fair Value | 27,963 | |
Due after five but within ten years, Estimated Fair Value | 1,381 | |
Due after ten years, Estimated Fair Value | 7,404 | |
Fair Value | $ 36,748 | 50,775 |
Due after one but within five years, Book Yield | 1.43% | |
Due after five but within ten years, Book Yield | 0.76% | |
Due after ten years, Book Yield | 1.68% | |
Total securities available for sale, Book Yield | 1.45% | |
Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 3,467 | |
Due after five but within ten years, Amortized Cost | 4,260 | |
Due after ten years, Amortized Cost | 23,988 | |
Available-for-sale Securities, Amortized Cost | 31,715 | 27,748 |
Due after one but within five years, Estimated Fair Value | 3,445 | |
Due after five but within ten years, Estimated Fair Value | 4,313 | |
Due after ten years, Estimated Fair Value | 23,885 | |
Fair Value | $ 31,643 | 27,572 |
Due after one but within five years, Book Yield | 1.69% | |
Due after five but within ten years, Book Yield | 2.23% | |
Due after ten years, Book Yield | 1.92% | |
Total securities available for sale, Book Yield | 1.94% | |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due within twelve months, Amortized Cost | $ 472 | |
Due after one but within five years, Amortized Cost | 1,896 | |
Due after five but within ten years, Amortized Cost | 2,823 | |
Due after ten years, Amortized Cost | 8,557 | |
Available-for-sale Securities, Amortized Cost | 13,748 | 11,575 |
Due within twelve months, Estimated Fair Value | 479 | |
Due after one but within five years, Estimated Fair Value | 2,022 | |
Due after five but within ten years, Estimated Fair Value | 2,852 | |
Due after ten years, Estimated Fair Value | 8,666 | |
Fair Value | $ 14,019 | $ 12,080 |
Due within twelve months, Book Yield | 5.77% | |
Due after one but within five years, Book Yield | 4.77% | |
Due after five but within ten years, Book Yield | 4.43% | |
Due after ten years, Book Yield | 3.79% | |
Total securities available for sale, Book Yield | 4.12% |
Investment Securities - Amort42
Investment Securities - Amortized Cost and Fair Value of Held to Maturity Securities Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 1,533 | |
Due after five but within ten years, Amortized Cost | 9,741 | |
Total Securities held for maturity, Amortized Cost | 11,274 | |
Due after one but within five years, Estimated Fair Value | 1,536 | |
Due after five but within ten years, Estimated Fair Value | 9,740 | |
Total Securities held for maturity, Estimated Fair Value | $ 11,276 | $ 5,450 |
Due after one but within five years | 2.60% | |
Due after five but within ten years | 2.74% | |
Total securities held to maturity, Book Yield | 2.68% | |
U.S. Government Agencies [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after five but within ten years, Amortized Cost | $ 1,915 | |
Total Securities held for maturity, Amortized Cost | 1,915 | |
Due after five but within ten years, Estimated Fair Value | 1,914 | |
Total Securities held for maturity, Estimated Fair Value | $ 1,914 | 2,053 |
Due after five but within ten years | 2.39% | |
Total securities held to maturity, Book Yield | 2.39% | |
State and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 1,533 | |
Due after five but within ten years, Amortized Cost | 4,470 | |
Total Securities held for maturity, Amortized Cost | 6,003 | |
Due after one but within five years, Estimated Fair Value | 1,536 | |
Due after five but within ten years, Estimated Fair Value | 4,459 | |
Total Securities held for maturity, Estimated Fair Value | $ 5,995 | |
Due after one but within five years | 2.24% | |
Due after five but within ten years | 2.89% | |
Total securities held to maturity, Book Yield | 2.68% | |
Corporate Bonds [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 3,356 | |
Total Securities held for maturity, Amortized Cost | 3,356 | |
Due after one but within five years, Estimated Fair Value | 3,367 | |
Total Securities held for maturity, Estimated Fair Value | $ 3,367 | $ 3,397 |
Due after one but within five years | 2.76% | |
Total securities held to maturity, Book Yield | 2.76% |
Loans Held for Investment - Com
Loans Held for Investment - Composition of Net Loans Held for Investment by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | $ 322,775 | $ 310,860 | ||||
Less: | ||||||
Allowance for loan losses | (2,961) | $ (3,327) | (3,738) | $ (3,466) | $ (3,700) | $ (5,095) |
Deferred loan (fees) costs, net | 41 | (7) | ||||
Net loans held for investment | 319,855 | 307,115 | ||||
Commercial [Member] | ||||||
Less: | ||||||
Allowance for loan losses | (1,333) | (1,553) | (1,716) | (1,638) | (1,570) | (2,665) |
Commercial [Member] | Commercial Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 51,417 | 47,418 | ||||
Commercial [Member] | Real Estate - Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 101,839 | 92,517 | ||||
Commercial [Member] | Other Real Estate Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 16,541 | 22,362 | ||||
Non-Commercial [Member] | ||||||
Less: | ||||||
Allowance for loan losses | (1,628) | $ (1,774) | (2,022) | $ (1,828) | $ (2,130) | $ (2,430) |
Non-Commercial [Member] | Real Estate 1-4 Family Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 4,635 | 3,888 | ||||
Non-Commercial [Member] | Real Estate - Residential [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 88,202 | 89,374 | ||||
Non-Commercial [Member] | Home Equity [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 49,553 | 46,360 | ||||
Non-Commercial [Member] | Consumer Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 9,031 | 8,460 | ||||
Non-Commercial [Member] | Other Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | $ 1,557 | $ 481 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | $ 3,327 | $ 3,700 | $ 3,738 | $ 5,095 |
Provision (recovery) charged to operations | (323) | (271) | (620) | (756) |
Charge-offs | (102) | (60) | (464) | (1,101) |
Recoveries | 59 | 97 | 307 | 228 |
Net (charge-offs) | (43) | 37 | (157) | (873) |
Other | 0 | 0 | 0 | 0 |
Balance at end of period | 2,961 | 3,466 | 2,961 | 3,466 |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | 1,553 | 1,570 | 1,716 | 2,665 |
Provision (recovery) charged to operations | (212) | 33 | (501) | (378) |
Charge-offs | (18) | (79) | (744) | |
Recoveries | 10 | 35 | 197 | 95 |
Net (charge-offs) | (8) | 35 | 118 | (649) |
Other | 0 | 0 | 0 | 0 |
Balance at end of period | 1,333 | 1,638 | 1,333 | 1,638 |
Non-Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | 1,774 | 2,130 | 2,022 | 2,430 |
Provision (recovery) charged to operations | (111) | (304) | (119) | (378) |
Charge-offs | (84) | (60) | (385) | (357) |
Recoveries | 49 | 62 | 110 | 133 |
Net (charge-offs) | (35) | 2 | (275) | (224) |
Other | 0 | 0 | 0 | 0 |
Balance at end of period | $ 1,628 | $ 1,828 | $ 1,628 | $ 1,828 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | $ 191 | $ 456 | ||||
Individually Evaluated, Loans | 5,714 | 7,561 | ||||
Collectively Evaluated, Reserve | 2,770 | 3,282 | ||||
Collectively Evaluated, Loans | 317,102 | 303,292 | ||||
Total Reserve | 2,961 | $ 3,327 | 3,738 | $ 3,466 | $ 3,700 | $ 5,095 |
Total Loans | 322,816 | 310,853 | ||||
Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | 12 | 179 | ||||
Individually Evaluated, Loans | 1,195 | 2,125 | ||||
Collectively Evaluated, Reserve | 1,321 | 1,537 | ||||
Collectively Evaluated, Loans | 168,602 | 160,172 | ||||
Total Reserve | 1,333 | 1,553 | 1,716 | 1,638 | 1,570 | 2,665 |
Total Loans | 169,797 | 162,297 | ||||
Non-Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | 179 | 277 | ||||
Individually Evaluated, Loans | 4,519 | 5,436 | ||||
Collectively Evaluated, Reserve | 1,449 | 1,745 | ||||
Collectively Evaluated, Loans | 148,500 | 143,120 | ||||
Total Reserve | 1,628 | $ 1,774 | 2,022 | $ 1,828 | $ 2,130 | $ 2,430 |
Total Loans | $ 153,019 | $ 148,556 |
Allowance for Loan Losses - Pas
Allowance for Loan Losses - Past Due Information of Loan Portfolio by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | $ 3,637 | $ 4,250 |
Current Loans | 319,179 | 306,603 |
Total Loans | 322,816 | 310,853 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 75 | 42 |
Current Loans | 51,342 | 47,376 |
Total Loans | 51,417 | 47,418 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 536 | 871 |
Current Loans | 101,303 | 91,646 |
Total Loans | 101,839 | 92,517 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 216 | 342 |
Current Loans | 16,325 | 22,020 |
Total Loans | 16,541 | 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 | 4,635 | |
Total Loans | 4,635 | 3,888 |
Accruing Loans 90 or More Days Past Due | 0 | |
Real Estate - Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 2,579 | 2,770 |
Current Loans | 85,664 | 86,597 |
Total Loans | 88,243 | 89,367 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 119 | 102 |
Current Loans | 49,434 | 46,258 |
Total Loans | 49,553 | 46,360 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Consumer Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 112 | 123 |
Current Loans | 8,919 | 8,337 |
Total Loans | 9,031 | 8,460 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Other Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Current Loans | 1,557 | 481 |
Total Loans | 1,557 | 481 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Current Loans | 3,888 | |
Total Loans | 3,888 | |
Accruing Loans 90 or More Days Past Due | 0 | |
Loans 30-89 Days Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 2,507 | 2,004 |
Loans 30-89 Days Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 41 | 42 |
Loans 30-89 Days Past Due [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 536 | 77 |
Loans 30-89 Days Past Due [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 1,733 | 1,673 |
Loans 30-89 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 85 | 89 |
Loans 30-89 Days Past Due [Member] | Consumer Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 112 | 123 |
Loans 90 Days or More Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 1,130 | 2,246 |
Loans 90 Days or More Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 34 | |
Loans 90 Days or More Past Due [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 794 | |
Loans 90 Days or More Past Due [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 216 | 342 |
Loans 90 Days or More Past Due [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 846 | 1,097 |
Loans 90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | $ 34 | $ 13 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 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 - Com
Allowance for Loan Losses - Composition of Nonaccrual Loans by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | $ 3,637 | $ 4,250 |
Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 75 | 42 |
Real Estate - Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 536 | 871 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 216 | 342 |
Real Estate - Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 2,579 | 2,770 |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 119 | 102 |
Loans 90 Days or More Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 1,130 | 2,246 |
Loans 90 Days or More Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 34 | |
Loans 90 Days or More Past Due [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 794 | |
Loans 90 Days or More Past Due [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 216 | 342 |
Loans 90 Days or More Past Due [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 846 | 1,097 |
Loans 90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | $ 34 | $ 13 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Risk Grades of Portfolio by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 322,816 | $ 310,853 |
Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 51,417 | 47,418 |
Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 101,839 | 92,517 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 16,541 | 22,362 |
Real Estate 1-4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,635 | 3,888 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 88,243 | 89,367 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 49,553 | 46,360 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,031 | 8,460 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,557 | 481 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 299,779 | 282,506 |
Pass [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 51,239 | 46,734 |
Pass [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 95,240 | 82,846 |
Pass [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 14,014 | 19,724 |
Pass [Member] | Real Estate 1-4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,532 | 3,888 |
Pass [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 76,277 | 75,859 |
Pass [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 48,294 | 44,799 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,626 | 8,175 |
Pass [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,557 | 481 |
Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 16,907 | 19,877 |
Watch [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 91 | 614 |
Watch [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,555 | 5,513 |
Watch [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,971 | 1,925 |
Watch [Member] | Real Estate 1-4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 103 | |
Watch [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,652 | 10,090 |
Watch [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,135 | 1,458 |
Watch [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 400 | 277 |
Sub-standard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 6,130 | 8,470 |
Sub-standard [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 87 | 70 |
Sub-standard [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,044 | 4,158 |
Sub-standard [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 556 | 713 |
Sub-standard [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,314 | 3,418 |
Sub-standard [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 124 | 103 |
Sub-standard [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 5 | $ 8 |
Allowance for Loan Losses - S50
Allowance for Loan Losses - Summary of Performing and Nonperforming Loans by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 322,816 | $ 310,853 |
Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 51,417 | 47,418 |
Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 101,839 | 92,517 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 16,541 | 22,362 |
Real Estate 1-4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,635 | 3,888 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 88,243 | 89,367 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 49,553 | 46,360 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,031 | 8,460 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,557 | 481 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 321,686 | 308,607 |
Performing [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 51,383 | 47,418 |
Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 101,839 | 91,723 |
Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 16,325 | 22,020 |
Performing [Member] | Real Estate 1-4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,635 | 3,888 |
Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 87,397 | 88,270 |
Performing [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 49,519 | 46,347 |
Performing [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,031 | 8,460 |
Performing [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,557 | 481 |
Non-Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,130 | 2,246 |
Non-Performing [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 34 | |
Non-Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 794 | |
Non-Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 216 | 342 |
Non-Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 846 | 1,097 |
Non-Performing [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 34 | $ 13 |
Allowance for Loan Losses - S51
Allowance for Loan Losses - Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | $ 6,252 | $ 6,252 | $ 8,288 | ||
Recorded Investment With No Allowance | 2,546 | 2,546 | 3,576 | ||
Recorded Investment With Allowance | 3,168 | 3,168 | 3,985 | ||
Related Allowance | 191 | 191 | 456 | ||
Average Recorded Investment | 6,051 | $ 8,423 | 6,905 | $ 10,807 | |
Interest Income | 69 | 69 | 204 | 223 | |
Commercial Loan [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 82 | 82 | 98 | ||
Recorded Investment With No Allowance | 82 | 82 | 68 | ||
Recorded Investment With Allowance | 30 | ||||
Related Allowance | 30 | ||||
Average Recorded Investment | 83 | 102 | 81 | 123 | |
Interest Income | 1 | 3 | 4 | ||
Real Estate - Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 845 | 845 | 1,820 | ||
Recorded Investment With No Allowance | 545 | 545 | 1,242 | ||
Recorded Investment With Allowance | 300 | 300 | 389 | ||
Related Allowance | 9 | 9 | 145 | ||
Average Recorded Investment | 968 | 1,754 | 1,374 | 2,978 | |
Interest Income | 14 | 19 | 42 | 54 | |
Other Real Estate Construction [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 806 | 806 | 934 | ||
Recorded Investment With No Allowance | 216 | 216 | 342 | ||
Recorded Investment With Allowance | 52 | 52 | 54 | ||
Related Allowance | 3 | 3 | 4 | ||
Average Recorded Investment | 270 | 1,058 | 304 | 1,346 | |
Interest Income | 1 | 2 | 2 | 2 | |
Real Estate 1-4 Family Construction [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 15 | 15 | 20 | ||
Recorded Investment With Allowance | 15 | 15 | 20 | ||
Related Allowance | 1 | 1 | 1 | ||
Average Recorded Investment | 16 | 21 | 18 | 138 | |
Interest Income | 1 | 1 | 1 | ||
Real Estate - Residential [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 4,431 | 4,431 | 5,298 | ||
Recorded Investment With No Allowance | 1,651 | 1,651 | 1,865 | ||
Recorded Investment With Allowance | 2,780 | 2,780 | 3,433 | ||
Related Allowance | 171 | 171 | 257 | ||
Average Recorded Investment | 4,639 | 5,379 | 5,037 | 6,054 | |
Interest Income | 53 | 43 | 154 | 156 | |
Home Equity [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 50 | 50 | 49 | ||
Recorded Investment With No Allowance | 29 | 29 | 30 | ||
Recorded Investment With Allowance | 21 | 21 | 19 | ||
Related Allowance | 7 | 7 | 19 | ||
Average Recorded Investment | 51 | 32 | 55 | 81 | |
Interest Income | 1 | 1 | 1 | ||
Consumer Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 23 | 23 | 69 | ||
Recorded Investment With No Allowance | 23 | 23 | 29 | ||
Recorded Investment With Allowance | $ 40 | ||||
Average Recorded Investment | $ 24 | 77 | 36 | 87 | |
Interest Income | $ 3 | $ 1 | $ 5 |
Troubled Debt Restructures - Ad
Troubled Debt Restructures - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Debt Disclosure [Abstract] | ||
Troubled debt restructuring outstanding | $ 4,800,000 | |
TDR's which was default payment | $ 0 | $ 0 |
TDR is defined as being past due | 90 days | |
Allowance for loan loss on TDR | $ 188,000 | $ 59,000 |
Troubled Debt Restructures - Br
Troubled Debt Restructures - Breakdown of Types of Concessions Made by Loan Class (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($)Contract | Sep. 30, 2014USD ($)Contract | Sep. 30, 2015USD ($)Contract | Sep. 30, 2014USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 7 | 8 | |
Pre-Modification Outstanding Recorded Investment | $ 76 | $ 795 | $ 967 | |
Post-Modification Outstanding Recorded Investment | $ 76 | $ 623 | $ 960 | |
Extended Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 32 | |||
Post-Modification Outstanding Recorded Investment | $ 30 | |||
Extended Maturity [Member] | Consumer Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 32 | |||
Post-Modification Outstanding Recorded Investment | $ 30 | |||
Other Payment Terms [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 2 | 7 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 76 | $ 205 | $ 795 | $ 935 |
Post-Modification Outstanding Recorded Investment | $ 76 | $ 205 | $ 623 | $ 930 |
Other Payment Terms [Member] | Commercial Loan [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 48 | |||
Post-Modification Outstanding Recorded Investment | $ 29 | |||
Other Payment Terms [Member] | Real Estate - Commercial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 1 | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 187 | $ 265 | $ 299 | |
Post-Modification Outstanding Recorded Investment | $ 187 | $ 123 | $ 298 | |
Other Payment Terms [Member] | Real Estate - Residential [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 1 | 5 | 5 |
Pre-Modification Outstanding Recorded Investment | $ 76 | $ 18 | $ 482 | $ 636 |
Post-Modification Outstanding Recorded Investment | $ 76 | $ 18 | $ 471 | $ 632 |
Troubled Debt Restructures - Sc
Troubled Debt Restructures - Schedule of Successes and Failures of Types of Debt Restructuring (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2015USD ($)Contract | Sep. 30, 2015USD ($)ContractLoans | Sep. 30, 2014USD ($)ContractLoans | |
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contract | 1 | 7 | 8 |
Recorded Investments | $ 4,800 | $ 4,800 | |
Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Contract | 1 | ||
Paying as Restructured [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Loans | 7 | 10 | |
Recorded Investments | 795 | $ 795 | $ 1,114 |
Paying as Restructured [Member] | Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Loans | 1 | ||
Recorded Investments | $ 30 | ||
Paying as Restructured [Member] | Other Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Loans | Loans | 7 | 9 | |
Recorded Investments | $ 795 | $ 795 | $ 1,084 |
Commitments and Contingencies -
Commitments and Contingencies - Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk (Detail) $ in Thousands | Sep. 30, 2015USD ($) |
Loss Contingencies [Line Items] | |
Total commitments | $ 86,299 |
Standby Letters of Credit [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | 2,376 |
Commitments to Extend Credit [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | 74,972 |
Credit Card Commitments [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | $ 8,951 |
Fair Value Disclosures - Fair V
Fair Value Disclosures - Fair Value Information for Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 96,927 | $ 112,824 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 7,400 | 3,011 |
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 | 96,927 | 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 | 7,117 | 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 | 36,748 | 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 | 31,643 | 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 | 14,019 | 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 | 7,400 | 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 | 7,117 | 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 | 7,117 | 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 | 89,810 | 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 | 36,748 | 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 | 31,643 | 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 | 14,019 | 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 | 7,400 | 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 ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 96,927 | $ 112,824 |
Fair Value on a Nonrecurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,371 | 1,854 |
Other real estate owned | 2,856 | 3,290 |
Fair Value | 6,227 | 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 | 3,371 | 1,854 |
Other real estate owned | 2,856 | 3,290 |
Fair Value | 6,227 | 5,144 |
Total liabilities at fair value | $ 0 | $ 0 |
Fair Value Disclosures - Quanti
Fair Value Disclosures - Quantitative Information about Level 3 Fair Value Measurements (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted appraisals | |
Impaired Loans One [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted cash flows | |
OREO [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | 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] | Impaired Loans One [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 4.00% | 4.00% |
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] | Impaired Loans One [Member] | Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 8.75% | 8.75% |
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 Inst59
Fair Values of Financial Instruments and Interest Rate Risk - Comparison of Carrying Amounts and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
FINANCIAL ASSETS | ||
Securities held to maturity | $ 11,276 | $ 5,450 |
Loans held for investment, net | 319,855 | 307,115 |
Accrued interest receivable | 1,466 | 1,747 |
FINANCIAL LIABILITIES | ||
Accrued interest payable | 176 | 180 |
Carrying Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 58,270 | 50,791 |
Securities available for sale | 96,927 | 112,824 |
Securities held to maturity | 11,274 | 5,496 |
Loans held for investment, net | 319,855 | 307,115 |
Loans held for sale | 418 | 2,147 |
Restricted stock | 1,040 | 1,038 |
Accrued interest receivable | 1,466 | 1,747 |
FINANCIAL LIABILITIES | ||
Deposits | 462,349 | 456,435 |
Short-term borrowings | 5,232 | 4,685 |
Long-term borrowings | 16 | 24 |
Junior subordinated debt | 9,534 | 9,534 |
Accrued interest payable | 176 | 180 |
Estimated Fair Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 58,341 | 50,826 |
Securities available for sale | 96,927 | 112,824 |
Securities held to maturity | 11,276 | 5,450 |
Loans held for investment, net | 317,590 | 321,295 |
Loans held for sale | 418 | 2,147 |
Restricted stock | 1,040 | 1,038 |
Accrued interest receivable | 1,466 | 1,747 |
FINANCIAL LIABILITIES | ||
Deposits | 435,613 | 442,655 |
Short-term borrowings | 5,232 | 4,685 |
Long-term borrowings | 16 | 24 |
Junior subordinated debt | 9,695 | 9,703 |
Accrued interest payable | 176 | 180 |
Level 1 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 54,535 | 47,605 |
Securities available for sale | 7,117 | 19,386 |
Securities held to maturity | 2,053 | |
Restricted stock | 1,040 | 1,038 |
Level 2 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 3,806 | 3,221 |
Securities available for sale | 89,810 | 93,438 |
Securities held to maturity | 11,276 | 3,397 |
Loans held for sale | 418 | 2,147 |
FINANCIAL LIABILITIES | ||
Deposits | 435,613 | 442,655 |
Short-term borrowings | 5,232 | 4,685 |
Long-term borrowings | 16 | 24 |
Level 3 [Member] | ||
FINANCIAL ASSETS | ||
Loans held for investment, net | 317,590 | 321,295 |
Accrued interest receivable | 1,466 | 1,747 |
FINANCIAL LIABILITIES | ||
Junior subordinated debt | 9,691 | 9,703 |
Accrued interest payable | $ 176 | $ 180 |
Fair Values of Financial Inst60
Fair Values of Financial Instruments and Interest Rate Risk - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2015USD ($) | |
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 Pronounceme61
Recent Accounting Pronouncements - Additional Information (Detail) - Real Estate - Residential [Member] | Sep. 30, 2015USD ($) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Foreclosed residential real estate | $ 2,200,000 |
Real estate in process of foreclosure | $ 295,000 |