Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 26, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
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 | 6,925,408 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and due from banks | $ 7,400 | $ 7,038 |
Interest-earning deposits with banks | 49,187 | 61,895 |
Securities available for sale, at fair value | 100,513 | 89,258 |
Securities held to maturity, at amortized cost (fair value $12,289 and $11,242, respectively) | 12,023 | 11,242 |
Loans held for sale | 2,538 | 5,922 |
Loans: | ||
Loans held for investment | 344,542 | 320,132 |
Less allowance for loan losses | (2,849) | (2,884) |
Net loans held for investment | 341,693 | 317,248 |
Premises and equipment, net | 14,224 | 14,666 |
Interest receivable | 1,520 | 1,564 |
Restricted stock | 1,052 | 1,040 |
Bank owned life insurance | 6,861 | 6,762 |
Other real estate owned | 4,435 | 4,994 |
Prepaid assets | 1,007 | 764 |
Other assets | 9,759 | 9,809 |
Total assets | 552,212 | 532,202 |
Deposits: | ||
Demand noninterest-bearing | 104,877 | 92,524 |
Interest checking and money market accounts | 274,591 | 252,345 |
Savings deposits | 41,865 | 40,436 |
Time deposits, $250,000 and over | 7,337 | 8,148 |
Other time deposits | 60,385 | 74,280 |
Total deposits | 489,055 | 467,733 |
Short-term borrowed funds | 1,786 | 5,758 |
Long-term debt | 9,537 | 9,547 |
Interest payable | 150 | 168 |
Other liabilities | 6,884 | 5,682 |
Total liabilities | 507,412 | 488,888 |
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 6,925,408 and 6,983,017 | 8,657 | 8,729 |
Common stock distributable | 173 | |
Additional paid-in capital | 12,571 | 12,308 |
Undivided profits | 12,586 | 11,893 |
Accumulated other comprehensive income (loss) | 197 | (212) |
Total Uwharrie Capital shareholders’ equity | 34,184 | 32,718 |
Noncontrolling interest | 10,616 | 10,596 |
Total shareholders’ equity | 44,800 | 43,314 |
Total liabilities and shareholders’ equity | $ 552,212 | $ 532,202 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Statement Of Financial Position [Abstract] | ||
Securities held for sale, at amortized cost, fair value | $ 12,289 | $ 11,242 |
Common stock, par value | $ 1.25 | $ 1.25 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 6,925,408 | 6,983,017 |
Common stock, shares outstanding | 6,925,408 | 6,983,017 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest Income | ||||
Loans, including fees | $ 4,025 | $ 3,936 | $ 11,820 | $ 11,784 |
Investment securities | ||||
US Treasury | 11 | 33 | 34 | 184 |
US Government agencies and corporations | 313 | 331 | 939 | 991 |
State and political subdivisions | 125 | 121 | 375 | 290 |
Interest-earning deposits with banks and federal funds sold | 78 | 47 | 236 | 126 |
Total interest income | 4,552 | 4,468 | 13,404 | 13,375 |
Interest Expense | ||||
Interest checking and money market accounts | 82 | 69 | 229 | 207 |
Savings deposits | 12 | 12 | 35 | 33 |
Time deposits, $250,000 and over | 14 | 25 | 44 | 49 |
Other time deposits | 59 | 176 | 255 | 586 |
Short-term borrowed funds | 3 | 17 | 32 | 44 |
Long-term debt | 139 | 139 | 412 | 411 |
Total interest expense | 309 | 438 | 1,007 | 1,330 |
Net interest income | 4,243 | 4,030 | 12,397 | 12,045 |
Provision for (recovery of) loan losses | 240 | (323) | 70 | (620) |
Net interest income after provision (recovery of) for loan losses | 4,003 | 4,353 | 12,327 | 12,665 |
Noninterest Income | ||||
Service charges on deposit accounts | 309 | 338 | 904 | 979 |
Other service fees and commissions | 1,055 | 1,040 | 3,330 | 3,055 |
Gain/(loss) on sale of securities (includes reclassification of $2,000 $0, $544,000 and $502,000 from accumulated other comprehensive income) | 2 | 544 | 502 | |
Gain (loss) on fixed assets and other assets | (1) | 5 | (3) | |
Income from mortgage loan sales | 1,111 | 706 | 2,769 | 1,699 |
Other income | 117 | 161 | 389 | 309 |
Total noninterest income | 2,593 | 2,250 | 7,933 | 6,544 |
Noninterest Expense | ||||
Salaries and employee benefits | 3,626 | 3,460 | 10,792 | 9,778 |
Net occupancy expense | 327 | 272 | 850 | 824 |
Equipment expense | 159 | 184 | 488 | 524 |
Data processing costs | 161 | 194 | 529 | 553 |
Office supplies and printing | 34 | 58 | 117 | 160 |
Foreclosed real estate expense | 29 | 144 | 204 | 418 |
Professional fees and services | 171 | 173 | 541 | 457 |
Marketing and donations | 224 | 221 | 651 | 592 |
Electronic banking expense | 303 | 265 | 884 | 775 |
Software amortization and maintenance | 174 | 142 | 508 | 426 |
FDIC insurance | 86 | 85 | 257 | 284 |
Other noninterest expense | 534 | 621 | 1,934 | 1,761 |
Total noninterest expense | 5,828 | 5,819 | 17,755 | 16,552 |
Income before income taxes | 768 | 784 | 2,505 | 2,657 |
Income taxes (includes reclassification $1,000, $0, $210,000 and $194,000 from accumulated other comprehensive income) | 228 | 223 | 745 | 799 |
Net income | 540 | 561 | 1,760 | 1,858 |
Less: net income attributable to noncontrolling Interest | (149) | (149) | (444) | (442) |
Net income attributable to Uwharrie Capital Corp | 391 | 412 | 1,316 | 1,416 |
Dividends – preferred stock | 0 | 0 | 0 | 0 |
Net income (loss) available to common shareholders | $ 391 | $ 412 | $ 1,316 | $ 1,416 |
Net income (loss) per common share | ||||
Basic | $ 0.06 | $ 0.06 | $ 0.19 | $ 0.20 |
Diluted | $ 0.06 | $ 0.06 | $ 0.19 | $ 0.20 |
Weighted average shares outstanding | ||||
Basic | 7,095,112 | 7,174,221 | 7,111,733 | 7,212,308 |
Diluted | 7,095,112 | 7,174,221 | 7,111,733 | 7,212,308 |
Consolidated Statements of Inc5
Consolidated Statements of Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Income Statement [Abstract] | ||||
Reclassification from accumulated other comprehensive income | $ 2 | $ 0 | $ 544 | $ 502 |
Tax effect on amount reclassified from accumulated Other comprehensive income | $ 1 | $ 0 | $ 210 | $ 194 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net Income | $ 540 | $ 561 | $ 1,760 | $ 1,858 |
Unrealized gain (loss) on available for sale securities | (268) | 555 | 1,165 | 493 |
Related tax effect | 90 | (188) | (422) | (191) |
Reclassification of (gain) loss recognized in net income | (2) | 0 | (544) | (502) |
Related tax effect | 1 | 0 | 210 | 194 |
Total other comprehensive income (loss) | (179) | 367 | 409 | (6) |
Comprehensive income | 361 | 928 | 2,169 | 1,852 |
Less: Comprehensive income attributable to noncontrolling interest | (149) | (149) | (444) | (442) |
Comprehensive income (loss) attributable to Uwharrie Capital | $ 212 | $ 779 | $ 1,725 | $ 1,410 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) - 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] |
Net Income | $ 1,858 | |||||||
Other comprehensive Income | (6) | |||||||
Net Income | 561 | |||||||
Other comprehensive Income | 367 | |||||||
Beginning balance at Dec. 31, 2015 | 43,314 | $ 8,729 | $ 12,308 | $ 11,893 | $ (212) | $ 10,596 | ||
Beginning balance, shares at Dec. 31, 2015 | 6,983,017 | |||||||
Net Income | 1,760 | 1,316 | 444 | |||||
2% stock dividend declaration | $ 173 | 450 | (623) | |||||
Repurchase of common stock | (259) | (72) | (187) | |||||
Repurchase of common stock, shares | (57,609) | |||||||
Other comprehensive Income | 409 | 409 | ||||||
Record preferred stock dividend Series B (noncontrolling interest) | (313) | (313) | ||||||
Record preferred stock dividend Series C (noncontrolling interest) | (111) | (111) | ||||||
Ending balance at Sep. 30, 2016 | 44,800 | 8,657 | 173 | 12,571 | 12,586 | 197 | 10,616 | |
Ending balance, shares at Sep. 30, 2016 | 6,925,408 | |||||||
Net Income | 540 | |||||||
Other comprehensive Income | (179) | |||||||
Ending balance at Sep. 30, 2016 | $ 44,800 | $ 8,657 | $ 173 | $ 12,571 | $ 12,586 | $ 197 | $ 10,616 | |
Ending balance, shares at Sep. 30, 2016 | 6,925,408 |
Consolidated Statement of Chan8
Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (Parenthetical) | Sep. 30, 2016 |
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, 2016 | Sep. 30, 2015 | |
Cash flows from operating activities | ||
Net Income | $ 1,760 | $ 1,858 |
Adjustments to reconcile net income to net cash Provided (used) by operating activities: | ||
Depreciation | 615 | 690 |
Net amortization of security premiums/discounts AFS | 745 | 767 |
Net amortization of security premiums/discounts HTM | 103 | 102 |
Net amortization of mortgage servicing rights | 756 | 513 |
Impairment of foreclosed real estate | 15 | 217 |
Provision/ (recovery) of loan losses | 70 | (620) |
Net realized gain on sales / calls available for sales securities | (544) | (502) |
Income from mortgage loan sales | (2,769) | (1,699) |
Proceeds from sales of loans held for sale | 88,222 | 48,436 |
Origination of loans held for sale | (82,825) | (45,008) |
(Gain)/ loss on sale of premises, equipment & other assets | 3 | |
Increase in cash surrender value of life insurance | (98) | (88) |
(Gain) on sales of foreclosed real estate | (20) | (114) |
Net change in interest receivable | 44 | 281 |
Net change in other assets | (256) | (582) |
Net change in interest payable | (18) | (4) |
Net change in other liabilities | 1,202 | 1,077 |
Net cash provided by operating activities | 7,005 | 5,324 |
Cash flows from investing activities | ||
Proceeds from sales, maturities and calls of securities available for sale | 28,763 | 40,533 |
Proceeds from sales, maturities and calls of securities held to maturity | 143 | 154 |
Purchase of securities available for sale | (39,597) | (24,910) |
Purchase of securities held to maturity | (1,027) | (6,034) |
Net (increase) in loans | (24,515) | (13,923) |
Proceeds from sales of premise, equipment and other assets | 150 | |
Purchase of premises and equipment | (324) | (584) |
Proceeds from sales of foreclosed real estate | 880 | 1,623 |
Investment in other assets | (468) | (409) |
Net change in restricted stock | (12) | (2) |
Net cash used by investing activities | (36,007) | (3,552) |
Cash flows from financing activities | ||
Net decrease in deposit accounts | 21,322 | 5,914 |
Net increase (decrease) in short-term borrowed funds | (3,972) | 547 |
Net decrease in long-term debt | (10) | (8) |
Repurchase of common stock | (260) | (324) |
Dividend and discount accretion on noncontrolling interest | (424) | (422) |
Net cash provided by financing activities | 16,656 | 5,707 |
Increase (decrease) in cash and cash equivalents | (12,346) | 7,479 |
Cash and cash equivalents, beginning of period | 68,933 | 50,791 |
Cash and cash equivalents, end of period | 56,587 | 58,270 |
Supplemental Disclosures of Cash Flow Information | ||
Interest paid | 1,025 | 1,334 |
Income taxes paid | 252 | 451 |
Supplemental Schedule of Non-Cash Activities | ||
Net change in fair value securities available for sale, net of tax | (410) | (6) |
Loans transferred to foreclosed real estate | 315 | 1,803 |
Mortgage servicing rights capitalized | $ 756 | 488 |
Net Change in ESOP liability | $ (561) |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2016 | |
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 2015 Annual Report on Form 10-K. This Quarterly Report should be read in conjunction with such Annual Report. Use of Estimates The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America (“GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. |
Comprehensive Income
Comprehensive Income | 9 Months Ended |
Sep. 30, 2016 | |
Equity [Abstract] | |
Comprehensive Income | Note 2 – Comprehensive Income The Company reports as comprehensive income all changes in shareholders’ equity during the year from sources other than shareholders. Other comprehensive income refers to all components (revenues, expenses, gains, and losses) of comprehensive income that are excluded from net income. The Company’s only component of other comprehensive income is unrealized gains and losses, net of income tax, on investment securities available for sale. The following table presents the changes in accumulated other comprehensive income for the three and nine months ended September 30, 2016 and 2015: Unrealized holding gains on available-for-sale securities (net) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Beginning Balance $ 376 $ (68 ) $ (212 ) $ 305 Other Comprehensive income (loss) before reclassifications, net of $90,000, ($188,000), ($422,000) and ($191,000) tax effect, respectively (178 ) 367 743 302 Amounts reclassified from accumulated other comprehensive income, net of $1,000, $0, $210,000 and $194,000 tax effect (1 ) — (334 ) (308 ) Net current-period other comprehensive income (loss) (179 ) 367 409 (6 ) Ending Balance $ 197 $ 299 $ 197 $ 299 |
Noncontrolling Interest
Noncontrolling Interest | 9 Months Ended |
Sep. 30, 2016 | |
Noncontrolling Interest [Abstract] | |
Noncontrolling Interest | Note 3 – Noncontrolling Interest In January 2013, the Company’s subsidiary banks issued a total of $7.9 million of Fixed Rate Noncumulative Perpetual Preferred Stock, Series B. The preferred stock qualified as Tier 1 capital at each bank and pays dividends at an annual rate of 5.30%. The preferred stock has no voting rights. This capital is presented as noncontrolling interest in the consolidated balance sheets. Dividends declared on this preferred stock are presented as earnings allocated to the noncontrolling interest in the consolidated statements of income. Effective September 1, 2013, the Fixed Rate Noncumulative Perpetual Preferred Stock, Series B was rolled into one issue under Uwharrie Bank in connection with the consolidation and name change. During 2013, the Company’s subsidiary bank, Uwharrie Bank, raised $2.8 million of Fixed Rate Noncumulative Perpetual Preferred Stock, Series C. The preferred stock qualifies as Tier 1 capital at the bank and pays dividends at an annual rate of 5.30%. The preferred stock has no voting rights. |
Per Share Data
Per Share Data | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Per Share Data | Note 4 – Per Share Data On October 18, 2016, the Company’s Board of Directors declared a 2% stock dividend payable on November 23, 2016 to shareholders of record on November 9, 2016. 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, 2016 and December 31, 2015. 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 basic and diluted earnings per share is summarized below: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Weighted average number of common shares outstanding 7,095,112 7,174,221 7,111,733 7,212,308 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 7,095,112 7,174,221 7,111,733 7,212,308 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 4,020 $ 25 $ — $ 4,045 U.S. Government agencies 42,872 155 75 42,952 GSE - Mortgage-backed securities and CMO’s 34,101 271 142 34,230 State and political subdivisions 14,164 119 40 14,243 Corporate bonds 5,057 10 24 5,043 Total securities available for sale $ 100,214 $ 580 $ 281 $ 100,513 September 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 1,757 $ 28 $ — $ 1,785 State and political subdivisions 6,985 173 — 7,158 Corporate bonds 3,281 65 — 3,346 Total securities held to maturity $ 12,023 $ 266 $ — $ 12,289 December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 4,026 $ — $ 14 $ 4,012 U.S. Government agencies 36,159 99 188 36,070 GSE - Mortgage-backed securities and CMO’s 30,269 53 549 29,773 State and political subdivisions 13,691 351 3 14,039 Corporate bonds 5,435 — 71 5,364 Total securities available for sale $ 89,580 $ 503 $ 825 $ 89,258 December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 1,911 $ — $ 5 $ 1,906 State and political subdivisions 5,993 30 5 6,018 Corporate bonds 3,338 — 20 3,318 Total securities held to maturity $ 11,242 $ 30 $ 30 $ 11,242 At both September 30, 2016 and December 31, 2015, the Company owned Federal Reserve Bank stock reported at cost of $507,000and Federal Home Loan Bank Stock (FHLB) of $545,000 and $533,000, 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, 2016. Results from sales of securities available for sale for the three and nine month periods ended September 30, 2016 and September 30, 2015 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Gross proceeds from sales $ — $ — $ 20,225 $ 29,739 Realized gains from sales $ 2 $ — $ 544 $ 502 Realized losses from sales — — — — Net realized gains $ 2 $ — $ 544 $ 502 There were no sales of securities during the three months ended September 30, 2016; however, a $2 thousand adjustment from a second quarter security sale transaction was realized during the third quarter. At September 30, 2016 and December 31, 2015, securities available for sale with a carrying amount of $77.9 million and $68.8 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, 2016 and December 31, 2015. These unrealized losses on investment securities are a result of temporary fluctuations in market prices due to a rise in interest rates, which will adjust if rates decline, and in a volatile market and are in no way a reflection of the credit quality of the investments. Management does not believe these fluctuations are a reflection of the quality of the investments. At September 30, 2016, the unrealized losses on available for sale securities less than twelve months related to three government agency bonds, six government sponsored enterprise (GSE) mortgage backed securities, and four state and political bonds. The Company had six government agency bonds, three GSE mortgage backed securities, and two corporate bonds that had been in a loss position for more than twelve months. At September 30, 2016, there were no unrealized losses on held to maturity securities. At December 31, 2015, the unrealized losses on available for sale securities less than twelve months related to one U.S. Treasury, five government agency bonds, eight government sponsored enterprise (GSE) mortgage backed securities, two corporate bonds and one state and political subdivision bond. At December 31, 2015, the unrealized losses on held to maturity securities related to one government agency security, two corporate bonds and two state and political subdivision bonds. Less than 12 Months 12 Months or More Total September 30, 2016 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Gov’t agencies $ 7,094 $ 18 $ 4,422 $ 57 $ 11,516 $ 75 GSE-Mortgage-backed securities and CMO’s 8,837 70 4,371 72 13,208 142 State and political 7,187 40 — — 7,187 40 Corporate bonds — — 3,005 24 3,005 24 Total securities available for sale $ 23,118 $ 128 $ 11,798 $ 153 $ 34,916 $ 281 Less than 12 Months 12 Months or More Total December 31, 2015 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Treasury $ 4,013 $ 14 $ — $ — $ 4,013 $ 14 U.S. Gov’t agencies 16,692 128 5,048 60 21,740 188 GSE-Mortgage-backed securities and CMO’s 15,620 290 7,230 259 22,850 549 State and political 465 3 — — 465 3 Corporate bonds 4,566 55 798 16 5,364 71 Total securities available for sale $ 41,356 $ 490 $ 13,076 $ 335 $ 54,432 $ 825 Less than 12 Months 12 Months or More Total December 31, 2015 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Held to maturity temporary impairment U.S. Gov’t agencies $ 1,906 $ 5 $ — $ — $ 1,906 $ 5 State and political 3,318 5 — — 3,318 5 Corporate bonds 1,312 20 — — 1,312 20 Total securities held to maturity $ 6,536 $ 30 $ — $ — $ 6,536 $ 30 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, 2016, 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, 2016 by remaining contractual maturity are as follows: September 30, 2016 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities available for sale U. S. Treasury Due after one but within five years $ 4,020 $ 4,045 1.13 % 4,020 4,045 1.13 % U.S. Government agencies Due after one but within five years 25,213 25,344 1.24 % Due after five but within ten years 8,344 8,339 1.97 % Due after ten years 9,315 9,269 1.35 % 42,872 42,952 1.40 % Mortgage-backed securities Due after one but within five years 3,557 3,602 1.98 % Due after five but within ten years 13,564 13,678 2.04 % Due after ten years 16,980 16,950 1.93 % 34,101 34,230 1.98 % State and political subdivisions Due after one but within five years 1,873 1,962 4.78 % Due after five but within ten years 1,604 1,619 6.31 % Due after ten years 10,687 10,662 2.30 % 14,164 14,243 3.08 % Corporate Bonds Due after one but within five years 2,839 2,832 2.15 % Due after five but within ten years 2,218 2,211 1.50 % 5,057 5,043 1.86 % Total Securities available for sale Due after one but within five years 37,502 37,785 1.54 % Due after five but within ten years 25,730 25,847 2.24 % Due after ten years 36,982 36,881 1.89 % $ 100,214 $ 100,513 1.85 % September 30, 2016 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Held to maturity U. S. Government agencies Due after five but within ten years $ 1,757 $ 1,785 2.49 % 1,757 1,785 2.49 % State and political subdivisions Due after one but within five years 2,956 3,007 2.21 % Due after five but within ten years 4,029 4,151 2.95 % 6,985 7,158 2.63 % Corporate Bonds Due after one but within five years 3,281 3,346 2.76 % 3,281 3,346 2.76 % Total Securities held for maturity Due after one but within five years 6,237 6,353 2.50 % Due after five but within ten years 5,786 5,936 2.81 % $ 12,023 $ 12,289 2.65 % |
Loans Held for Investment
Loans Held for Investment | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and December 31, 2015 are as follows: September 30, 2016 December 31, 2015 (dollars in thousands) Commercial Commercial $ 54,878 $ 52,311 Real estate - commercial 109,498 101,198 Other real estate construction loans 27,219 17,692 Noncommercial Real estate 1-4 family construction 4,794 5,629 Real estate - residential 85,258 83,379 Home equity 51,403 49,420 Consumer loans 9,715 8,982 Other loans 1,732 1,481 344,497 320,092 Less: Allowance for loan losses (2,849 ) (2,884 ) Deferred loan (fees) costs, net 45 40 Loans held for investment, net $ 341,693 $ 317,248 |
Allowance for Loan Losses
Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2016 | |
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 periods ended September 30, 2016 and 2015, respectively: Commercial Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Balance, beginning of period $ 1,346 $ 1,553 $ 1,310 $ 1,716 Provision (recovery) charged to operations 271 (212 ) 342 (501 ) Charge-offs (69 ) (18 ) (131 ) (79 ) Recoveries 12 10 39 197 Net (charge-offs) (57 ) (8 ) (92 ) 118 Balance at end of period $ 1,560 $ 1,333 $ 1,560 $ 1,333 Non-Commercial Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Balance, beginning of period $ 1,360 $ 1,774 $ 1,574 $ 2,022 Provision (recovery) charged to operations (31 ) (111 ) (272 ) (119 ) Charge-offs (118 ) (84 ) (198 ) (385 ) Recoveries 78 49 185 110 Net (charge-offs) (40 ) (35 ) (13 ) (275 ) Balance at end of period $ 1,289 $ 1,628 $ 1,289 $ 1,628 Total Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Balance, beginning of period $ 2,706 $ 3,327 $ 2,884 $ 3,738 Provision (recovery) charged to operations 240 (323 ) 70 (620 ) Charge-offs (187 ) (102 ) (329 ) (464 ) Recoveries 90 59 224 307 Net (charge-offs) (97 ) (43 ) (105 ) (157 ) Balance at end of period $ 2,849 $ 2,961 $ 2,849 $ 2,961 The following table shows period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at September 30, 2016 and December 31, 2015: September 30, 2016 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 17 $ 1,087 $ 1,543 $ 190,508 $ 1,560 $ 191,595 Non-Commercial 108 4,749 1,181 148,198 1,289 152,947 Total $ 125 $ 5,836 $ 2,724 $ 338,706 $ 2,849 $ 344,542 December 31, 2015 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 18 $ 1,019 $ 1,292 $ 170,182 $ 1,310 $ 171,201 Non-Commercial 163 4,459 1,411 144,472 1,574 148,931 Total $ 181 $ 5,478 $ 2,703 $ 314,654 $ 2,884 $ 320,132 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, 2016 Loans 30-89 Days Past Due Loans 90 Days or More Past due Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ 13 $ — $ 13 $ 54,865 $ 54,878 $ — Real estate - commercial 89 395 484 109,014 109,498 — Other real estate construction — 191 191 27,028 27,219 — Real estate 1-4 family construction — — 0 4,794 4,794 — Real estate - residential 1,226 576 1,802 83,501 85,303 — Home equity 75 22 97 51,306 51,403 — Consumer loans 98 — 98 9,617 9,715 — Other loans — — — 1,732 1,732 — Total $ 1,501 $ 1,184 $ 2,685 $ 341,857 $ 344,542 $ — December 31, 2015 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ 46 $ 34 $ 80 $ 52,231 $ 52,311 $ — Real estate - commercial 74 — 74 101,124 101,198 — Other real estate construction 110 195 305 17,387 17,692 — Real estate construction — — 0 5,629 5,629 — Real estate - residential 1,580 541 2,121 81,298 83,419 — Home equity 75 13 88 49,332 49,420 — Consumer loan 39 — 39 8,943 8,982 — Other loans — — 0 1,481 1,481 — Total $ 1,924 $ 783 $ 2,707 $ 317,425 $ 320,132 $ — 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 Company had $1.4 million in foreclosed residential real estate and $347,000 of residential real estate in process of foreclosure at September 30, 2016. The composition of nonaccrual loans by class as of September 30, 2016 and December 31, 2015 is as follows: September 30, 2016 December 31, 2015 (dollars in thousands) Commercial $ — $ 34 Real estate - commercial 395 — Other real estate construction 191 195 Real estate 1 – 4 family construction — — Real estate – residential 576 541 Home equity 22 13 Consumer loans — — Other loans — — $ 1,184 $ 783 Management uses a risk-grading program to facilitate the evaluation of probable inherent loan losses and to measure the adequacy of the allowance for loan losses. In this program, risk grades are initially assigned by the loan officers and reviewed and monitored by the lenders and credit administration. The program has eight risk grades summarized in five categories as follows: Pass : Loans that are pass grade credits include loans that are fundamentally sound and risk factors are reasonable and acceptable. They generally conform to policy with only minor exceptions and any major exceptions are clearly mitigated by other economic factors. Watch : Loans that are watch credits include loans on management’s watch list where a risk concern may be anticipated in the near future. Substandard : Loans that are considered substandard are loans that are inadequately protected by current sound net worth, paying capacity of the obligor or the value of the collateral pledged. All nonaccrual loans are graded as substandard. Doubtful: Loans that are considered to be doubtful have all weaknesses inherent in loans classified substandard, plus the added characteristic that the weaknesses make the collection or liquidation in full on the basis of current existing facts, conditions and values highly questionable and improbable. Loss: Loans that are considered to be a loss are considered to be uncollectible and of such little value that their continuance as bankable assets is not warranted. The tables below summarize risk grades of the loan portfolio by class at September 30, 2016 and December 31, 2015: September 30, 2016 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 53,579 $ 1,279 $ 20 $ — $ 54,878 Real estate - commercial 104,956 2,051 2,491 — 109,498 Other real estate construction 24,766 1,922 531 — 27,219 Real estate 1 - 4 family construction 4,794 — — — 4,794 Real estate - residential 73,930 9,251 2,122 — 85,303 Home equity 50,363 1,015 25 — 51,403 Consumer loans 9,562 150 3 — 9,715 Other loans 1,732 — — — 1,732 Total $ 323,682 $ 15,668 $ 5,192 $ — $ 344,542 December 31, 2015 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 52,096 $ 130 $ 85 $ — $ 52,311 Real estate - commercial 97,506 1,161 2,531 — 101,198 Other real estate construction 15,163 1,994 535 — 17,692 Real estate 1 - 4 family construction 5,526 103 — — 5,629 Real estate - residential 71,736 9,398 2,285 — 83,419 Home equity 48,195 1,209 16 — 49,420 Consumer loans 8,583 394 5 — 8,982 Other loans 1,481 — — — 1,481 Total $ 300,286 $ 14,389 $ 5,457 $ — $ 320,132 Loans that are in nonaccrual status or 90 days past due and still accruing are considered to be nonperforming. At both September 30, 2016 and December 31, 2015 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, 2016 and December 31, 2015: September 30, 2016 Performing Non- Performing Total (dollars in thousands) Commercial $ 54,878 $ — $ 54,878 Real estate - commercial 109,103 395 109,498 Other real estate construction 27,028 191 27,219 Real estate 1 – 4 family construction 4,794 — 4,794 Real estate – residential 84,727 576 85,303 Home equity 51,381 22 51,403 Consumer loans 9,715 — 9,715 Other loans 1,732 — 1,732 Total $ 343,358 $ 1,184 $ 344,542 December 31, 2015 Performing Non- Performing Total (dollars in thousands) Commercial $ 52,277 $ 34 $ 52,311 Real estate - commercial 101,198 — 101,198 Other real estate construction 17,497 195 17,692 Real estate 1 – 4 family construction 5,629 — 5,629 Real estate – residential 82,878 541 83,419 Home equity 49,407 13 49,420 Consumer loans 8,982 — 8,982 Other loans 1,481 — 1,481 Total $ 319,349 $ 783 $ 320,132 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, 2016 and December 31, 2015. September 30, 2016 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 30 $ — $ 30 $ 2 Real estate - commercial 761 471 290 9 Other real estate construction 834 192 104 6 Real estate 1 - 4 family construction 8 — 8 — Real estate - residential 4,640 2,269 2,371 108 Home equity 36 36 — — Consumer loans 65 65 — — Other loans — — — — Total $ 6,374 $ 3,033 $ 2,803 $ 125 December 31, 2015 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 97 $ 80 $ 17 $ 2 Real estate - commercial 620 498 122 9 Other real estate construction 840 195 107 7 Real estate 1 - 4 family construction 13 — 13 — Real estate - residential 4,343 1,507 2,836 163 Home equity 28 28 — — Consumer loans 75 75 — — Other loans — — — — Total $ 6,016 $ 2,383 $ 3,095 $ 181 Three Months ended September 30, 2016 Three Months ended September 30, 2015 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 31 — $ 83 — Real estate - commercial 620 9 968 14 Other real estate construction 297 1 270 1 Real estate 1- 4 family construction 9 1 16 1 Real estate - residential 4,542 65 4,639 53 Home equity 46 — 51 — Consumer loans 71 2 24 — Other loans — — — — Total $ 5,616 $ 78 $ 6,051 $ 69 Nine Months ended September 30, 2016 Nine Months ended September 30, 2015 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 48 $ 1 $ 81 $ 3 Real estate - commercial 624 28 1,374 42 Other real estate construction 299 4 304 2 Real estate 1- 4 family construction 11 1 18 1 Real estate - residential 4,522 176 5,037 154 Home equity 47 1 55 1 Consumer loans 74 5 36 1 Other loans — — — — Total $ 5,625 $ 216 $ 6,905 $ 204 |
Troubled Debt Restructures
Troubled Debt Restructures | 9 Months Ended |
Sep. 30, 2016 | |
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 TDRs 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, 2016, the Company had $4.1 million in TDRs outstanding, of which all were on an accruing basis. For the three and nine months ended September 30, 2016 and 2015, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended September 30, 2016 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 2 226 214 Home equity — — — Consumer loans — — — Other loans — — — Total 2 $ 226 $ 214 For the three months ended September 30, 2015 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 1 76 76 Home equity — — — Consumer loans — — — Other loans — — — Total 1 $ 76 $ 76 For the nine months ended September 30, 2016 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 4 555 482 Home equity — — — Consumer loans — — — Other loans — — — Total 4 $ 555 $ 482 For the nine months ended September 30, 2015 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) 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 During the twelve months ended September 30, 2016 and September 30, 2015, 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 $106,000 in the allowance for loan loss as of September 30, 2016, as a direct result of these TDRs. At September 30, 2015, there was $188,000 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, 2016 and 2015: Paid In Full Paying as restructured Converted to nonaccrual Foreclosure/ Default Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) September 30, 2016 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal Other 6 433 8 501 — — 4 59 Total 6 $ 433 8 $ 501 — $ — 4 $ 59 September 30, 2015 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal Other — — 7 795 — — — — Total — $ — 7 $ 795 — $ — — $ — The Company has not committed to fund any additional disbursements for TDRs. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 9 - Commitments and Contingencies The subsidiary bank is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, lines of credit and standby letters of credit. These instruments involve elements of credit risk in excess of amounts recognized in the accompanying financial statements. The bank’s risk of loss with 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, 2016, outstanding financial instruments whose contract amounts represent credit risk were approximately: (dollars in thousands) Commitments to extend credit $ 84,397 Credit card commitments 9,718 Standby letters of credit 1,658 Total commitments $ 95,773 Additionally, during the third quarter of 2016 Uwharrie Bank entered into a five-year operating lease for commercial property. The term expires on September 30, 2021. The annual cost of the lease is $151,875 with a 2.625% annual adjustor. |
Fair Value Disclosures
Fair Value Disclosures | 9 Months Ended |
Sep. 30, 2016 | |
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 ASC 820 defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which those assets or liabilities are sold and considers assumptions that market participants would use when pricing those assets or liabilities. Fair values determined using Level 1 inputs rely on active and observable markets to price identical assets or liabilities. In situations where identical assets and liabilities are not traded in active markets, fair values may be determined based on Level 2 inputs, which exist when observable data exists for similar assets and liabilities. Fair values for assets and liabilities for which identical or similar assets and liabilities are not actively traded in observable markets are based on Level 3 inputs, which are considered to be unobservable. Among the Company’s assets and liabilities, investment securities available for sale are reported at their fair values on a recurring basis. Certain other assets are adjusted to their fair value on a nonrecurring basis, including other real estate owned, impaired loans, loans held for sale, which are carried at the lower of cost or market; loan servicing rights, where fair value is determined using similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions; and goodwill, which is periodically tested for impairment. Deposits, short-term borrowings and long-term obligations are not reported at fair value. Prices for US Treasury securities are readily available in the active markets in which those securities are traded, and the resulting fair values are shown in the ‘Level 1 input’ column. Prices for government agency securities, mortgage-backed securities and for state, county and municipal securities are obtained for similar securities, and the resulting fair values are shown in the ‘Level 2 input’ column. Prices for all other non-marketable investments are determined based on various assumptions that are not observable. The fair values for these investment securities are shown in the ‘Level 3 input’ column. Non-marketable investment securities, which are carried at their purchase price, include those that may only be redeemed by the issuer. The changes in securities between Level 1 and Level 2 were related to the purchase and sale of several securities and not the transfer of securities. The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment by using one of several methods including collateral value, fair value of similar debt or discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the present value of the expected repayments or fair value of collateral exceed the recorded investments in such loans. The Company typically bases the fair value of the collateral on appraised values which the Company considers Level 3 valuations. 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. The Company typically bases the fair value of the collateral on appraised values which the Company considers Level 3 valuations. 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, 2016 and December 31, 2015: September 30, 2016 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: US Treasury $ 4,045 $ 4,045 $ — $ — US Government Agencies 42,952 — 42,952 — GSE - Mortgage-backed securities and CMO’s 34,230 — 34,230 — State and political subdivisions 14,243 — 14,243 — Corporate bonds 5,043 — 5,043 — Total assets at fair value $ 100,513 $ 4,045 $ 96,468 $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2015 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: US Treasury $ 4,012 $ 4,012 $ — $ — US Gov’t 36,070 — 36,070 — Mortgage-backed securities and CMO’s 29,773 — 29,773 — State and political subdivisions 14,039 — 14,039 — Corporate bonds 5,364 — 5,364 — Total assets at fair value $ 89,258 $ 4,012 $ 85,246 $ — Total liabilities at fair value $ — $ — $ — $ — The Company may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with U.S. GAAP. These include assets that are measured at the lower of cost or market that were recognized at fair value less cost 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, 2016 and December 31, 2015: September 30, 2016 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 2,870 $ — $ — $ 2,870 Other real estate owned 2,309 — — 2,309 Total assets at fair value $ 5,179 $ — $ — $ 5,179 Total liabilities at fair value $ — $ — $ — $ — December 31, 2015 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,108 $ — $ — $ 3,108 Other real estate owned 2,909 — — 2,909 Total assets at fair value $ 6,017 $ — $ — $ 6,017 Total liabilities at fair value $ — $ — $ — $ — Quantitative Information about Level 3 Fair Value Measurements September 30, 2016 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount Rate 4%-8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% December 31, 2015 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 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, 2016, 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, 2016 | |
Investments All Other Investments [Abstract] | |
Fair Values of Financial Instruments and Interest Rate Risk | Note 11 – 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, 2016 and December 31, 2015 are based on relevant market information and information about the financial instruments. Fair value estimates are intended to represent the price an asset could be sold at or the price at which a liability could be settled. However, given there is no active market or observable market transactions for many of the Company’s financial instruments, the Company has made estimates of many of these fair values which are subjective in nature, involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimated values. The estimated fair values disclosed in the following table do not represent market values of all assets and liabilities of the Company and should not be interpreted to represent the underlying value of the Company. The following table reflects a comparison of carrying amounts and the estimated fair value of the financial instruments as of September 30, 2016 and December 31, 2015: September 30, 2016 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 56,587 $ 56,673 $ 54,097 $ 2,576 $ — Securities available for sale 100,513 100,513 4,045 96,468 — Securities held to maturity 12,023 12,289 — 12,289 — Loans held for investment, net 341,693 341,169 — — 341,169 Loans held for sale 2,538 2,556 — 2,556 — Restricted stock 1,052 1,052 1,052 — — Accrued interest receivable 1,520 1,520 — — 1,520 FINANCIAL LIABILITIES Deposits $ 489,055 $ 466,243 $ — $ 466,243 $ — Short-term borrowings 1,786 1,786 — 1,786 — Long-term borrowings 3 3 — 3 — Junior subordinated debt 9,534 9,680 — — 9,680 Accrued interest payable 150 150 — — 150 December 31, 2015 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 68,933 $ 68,973 $ 65,198 $ 3,775 $ — Securities available for sale 89,258 89,258 4,012 85,246 — Securities held to maturity 11,242 11,242 — 11,242 — Loans held for investment, net 317,248 313,649 — — 313,649 Loans held for sale 5,922 5,922 — 5,922 — Restricted stock 1,040 1,040 1,040 — — Accrued interest receivable 1,564 1,564 — — 1,564 FINANCIAL LIABILITIES Deposits $ 467,733 $ 442,619 $ — $ 442,619 $ — Short-term borrowings 5,758 5,758 — 5,758 — Long-term borrowings 13 13 — 13 Junior subordinated debt 9,534 9,688 — — 9,688 Accrued interest payable 168 168 — — 168 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 with the exception of time deposits due from banks that are 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. • 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, 2016, the subsidiary bank had outstanding standby letters of credit and commitments to extend credit. These off-balance sheet financial instruments are generally exercisable at the market rate prevailing at the date the underlying transaction will be completed; therefore, the fair value is the fee the bank is expected to receive. This amount is deemed immaterial by management. See Note 9. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Note 12 – Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers, Topic 606 (“ASU 2014-09”)”. The new standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under existing guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. In August of 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers, Topic 606: Deferral of the Effective Date, deferring the effective date of ASU 2014-09 until annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The amendments can be applied retrospectively to each prior reporting period or retrospectively with the cumulative effect of initially applying this new guidance recognized at the date of initial application. The Company is currently evaluating the provisions of ASU 2014-09 to determine the potential impact the new standard will have to the Company’s financial statements. In February 2015, the FASB issued ASU 2015-02, “Consolidation, Topic 810 (“ASU-2015-02”)”. The amendments to this standard improve targeted areas of consolidation guidance for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. In addition to reducing the number of consolidation models from four to two, the new standard places more emphasis on risk of loss when determining a controlling financial interest, reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a variable interest entity (VIE), and changing consolidation conclusions for public and private companies in several industries that typically make use of limited partnerships or VIEs. The amendments in this ASU are effective for fiscal years beginning after December 15, 2015 for public business entities, including interim periods within those fiscal years. We adopted the guidance effective in the first quarter of 2016. The initial adoption had no impact on our consolidated financial position and consolidated results of operations. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.” The amendments in this ASU address certain aspects of recognition, measurement, presentation and disclosure. The amendments in this ASU (i) require equity investments to be measured at fair value with changes in fair value recognized in net income; (ii) simplify the impairment assessment of equity investments without readily determinable fair value; (iii) require public business entities to use exit prices, rather than entry prices, when measuring fair value of financial instruments for disclosure purposes; (iv) require separate presentation of financial assets and financial liabilities by measurement category and form of financial assets on the balance sheet or the accompanying notes to the financial statements; (v) eliminate the requirement to disclose the method(s) and significant assumptions used to estimate the fair value of financial instruments measured at amortized cost on the balance sheet; (vi) require separate presentation in other comprehensive income of the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; and (vii) state that a valuation allowance on deferred tax assets related to available-for-sale securities should be evaluated in combination with other deferred tax assets. The amendments in this ASU are effective for public business entities for fiscal periods beginning after December 15, 2017, including interim periods within those fiscal years. The ASU only permits early adoption of the instrument-specific credit risk provision. We are currently evaluating the impact of the new standard. In February 2016, the FASB issued ASU 2016-02, “Leases, Topic 842 (“ASU 2016-02”)”. This ASU increases the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The key difference between existing standards and this ASU is the requirement for lessees to recognize on their balance sheet all lease contracts with lease terms greater than 12 months, including operating leases. Both a right-of-use asset, representing the right to use the leased asset, and a lease liability, representing the contractual obligation, are required to be recognized on the balance sheet of the lessee at lease commencement. Further, this ASU requires lessees to classify leases as either operating or finance leases, which are substantially similar to the current operating and capital leases classifications. The distinction between these two classifications under the new standard does not relate to balance sheet treatment, but relates to treatment in the statements of income and cash flows. Lessor guidance remains largely unchanged with the exception of how a lessor determines the appropriate lease classification for each lease to better align the lessor guidance with revised lessee classification guidance. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the impact of the new standard, which we anticipate we will adopt during the first quarter of 2019. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. ASU 2016-13 requires an entity to utilize a new impairment model known as the current expected credit loss (“CECL”) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in earlier recognition of credit losses. ASU 2016-13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. Entities will apply the standard’s provisions as a cumulative effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. We are currently assessing the impact of the new guidance on the Company’s consolidated financial statements. From time to time, the FASB issues exposure drafts of proposed statements of financial accounting standards. Such exposure drafts are subject to comment from the public, to revisions by the FASB and to final issuance by the FASB as statements of financial accounting standards. Management considers the effect of the proposed statements on the consolidated financial statements of the Company and monitors the status of changes to and proposed effective dates of exposure drafts. Reclassification Certain amounts in the 2015 financial statements have been reclassified to conform to the 2016 presentation. These reclassifications do not have an impact on net income or shareholders’ equity. Subsequent Events On October 18, 2016, the Company’s Board of Directors declared a 2% stock dividend payable on November 23, 2016 to shareholders of record on November 9, 2016. 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. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Organization Consolidation And Presentation Of Financial Statements Abstract | |
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 2015 Annual Report on Form 10-K. This Quarterly Report should be read in conjunction with such Annual Report. |
Use of Estimates | Use of Estimates The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America (“GAAP”), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses. |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and 2015: Unrealized holding gains on available-for-sale securities (net) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Beginning Balance $ 376 $ (68 ) $ (212 ) $ 305 Other Comprehensive income (loss) before reclassifications, net of $90,000, ($188,000), ($422,000) and ($191,000) tax effect, respectively (178 ) 367 743 302 Amounts reclassified from accumulated other comprehensive income, net of $1,000, $0, $210,000 and $194,000 tax effect (1 ) — (334 ) (308 ) Net current-period other comprehensive income (loss) (179 ) 367 409 (6 ) Ending Balance $ 197 $ 299 $ 197 $ 299 |
Per Share Data (Tables)
Per Share Data (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The computation of basic and diluted earnings per share is summarized below: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Weighted average number of common shares outstanding 7,095,112 7,174,221 7,111,733 7,212,308 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 7,095,112 7,174,221 7,111,733 7,212,308 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 4,020 $ 25 $ — $ 4,045 U.S. Government agencies 42,872 155 75 42,952 GSE - Mortgage-backed securities and CMO’s 34,101 271 142 34,230 State and political subdivisions 14,164 119 40 14,243 Corporate bonds 5,057 10 24 5,043 Total securities available for sale $ 100,214 $ 580 $ 281 $ 100,513 September 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 1,757 $ 28 $ — $ 1,785 State and political subdivisions 6,985 173 — 7,158 Corporate bonds 3,281 65 — 3,346 Total securities held to maturity $ 12,023 $ 266 $ — $ 12,289 December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities available for sale U.S. Treasury $ 4,026 $ — $ 14 $ 4,012 U.S. Government agencies 36,159 99 188 36,070 GSE - Mortgage-backed securities and CMO’s 30,269 53 549 29,773 State and political subdivisions 13,691 351 3 14,039 Corporate bonds 5,435 — 71 5,364 Total securities available for sale $ 89,580 $ 503 $ 825 $ 89,258 December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (dollars in thousands) Securities held to maturity U.S. Government agencies $ 1,911 $ — $ 5 $ 1,906 State and political subdivisions 5,993 30 5 6,018 Corporate bonds 3,338 — 20 3,318 Total securities held to maturity $ 11,242 $ 30 $ 30 $ 11,242 |
Sales of Securities Available for Sale | Results from sales of securities available for sale for the three and nine month periods ended September 30, 2016 and September 30, 2015 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Gross proceeds from sales $ — $ — $ 20,225 $ 29,739 Realized gains from sales $ 2 $ — $ 544 $ 502 Realized losses from sales — — — — Net realized gains $ 2 $ — $ 544 $ 502 |
Gross Unrealized Losses and Fair Value of Investments | At December 31, 2015, the unrealized losses on held to maturity securities related to one government agency security, two corporate bonds and two state and political subdivision bonds. Less than 12 Months 12 Months or More Total September 30, 2016 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Gov’t agencies $ 7,094 $ 18 $ 4,422 $ 57 $ 11,516 $ 75 GSE-Mortgage-backed securities and CMO’s 8,837 70 4,371 72 13,208 142 State and political 7,187 40 — — 7,187 40 Corporate bonds — — 3,005 24 3,005 24 Total securities available for sale $ 23,118 $ 128 $ 11,798 $ 153 $ 34,916 $ 281 Less than 12 Months 12 Months or More Total December 31, 2015 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Securities available for sale temporary impairment U.S. Treasury $ 4,013 $ 14 $ — $ — $ 4,013 $ 14 U.S. Gov’t agencies 16,692 128 5,048 60 21,740 188 GSE-Mortgage-backed securities and CMO’s 15,620 290 7,230 259 22,850 549 State and political 465 3 — — 465 3 Corporate bonds 4,566 55 798 16 5,364 71 Total securities available for sale $ 41,356 $ 490 $ 13,076 $ 335 $ 54,432 $ 825 Less than 12 Months 12 Months or More Total December 31, 2015 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (dollars in thousands) Held to maturity temporary impairment U.S. Gov’t agencies $ 1,906 $ 5 $ — $ — $ 1,906 $ 5 State and political 3,318 5 — — 3,318 5 Corporate bonds 1,312 20 — — 1,312 20 Total securities held to maturity $ 6,536 $ 30 $ — $ — $ 6,536 $ 30 |
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, 2016 by remaining contractual maturity are as follows: September 30, 2016 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Securities available for sale U. S. Treasury Due after one but within five years $ 4,020 $ 4,045 1.13 % 4,020 4,045 1.13 % U.S. Government agencies Due after one but within five years 25,213 25,344 1.24 % Due after five but within ten years 8,344 8,339 1.97 % Due after ten years 9,315 9,269 1.35 % 42,872 42,952 1.40 % Mortgage-backed securities Due after one but within five years 3,557 3,602 1.98 % Due after five but within ten years 13,564 13,678 2.04 % Due after ten years 16,980 16,950 1.93 % 34,101 34,230 1.98 % State and political subdivisions Due after one but within five years 1,873 1,962 4.78 % Due after five but within ten years 1,604 1,619 6.31 % Due after ten years 10,687 10,662 2.30 % 14,164 14,243 3.08 % Corporate Bonds Due after one but within five years 2,839 2,832 2.15 % Due after five but within ten years 2,218 2,211 1.50 % 5,057 5,043 1.86 % Total Securities available for sale Due after one but within five years 37,502 37,785 1.54 % Due after five but within ten years 25,730 25,847 2.24 % Due after ten years 36,982 36,881 1.89 % $ 100,214 $ 100,513 1.85 % |
Amortized Cost and Fair Value of Held to Maturity Securities Portfolio | September 30, 2016 Amortized Cost Estimated Fair Value Book Yield (dollars in thousands) Held to maturity U. S. Government agencies Due after five but within ten years $ 1,757 $ 1,785 2.49 % 1,757 1,785 2.49 % State and political subdivisions Due after one but within five years 2,956 3,007 2.21 % Due after five but within ten years 4,029 4,151 2.95 % 6,985 7,158 2.63 % Corporate Bonds Due after one but within five years 3,281 3,346 2.76 % 3,281 3,346 2.76 % Total Securities held for maturity Due after one but within five years 6,237 6,353 2.50 % Due after five but within ten years 5,786 5,936 2.81 % $ 12,023 $ 12,289 2.65 % |
Loans Held for Investment (Tabl
Loans Held for Investment (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and December 31, 2015 are as follows: September 30, 2016 December 31, 2015 (dollars in thousands) Commercial Commercial $ 54,878 $ 52,311 Real estate - commercial 109,498 101,198 Other real estate construction loans 27,219 17,692 Noncommercial Real estate 1-4 family construction 4,794 5,629 Real estate - residential 85,258 83,379 Home equity 51,403 49,420 Consumer loans 9,715 8,982 Other loans 1,732 1,481 344,497 320,092 Less: Allowance for loan losses (2,849 ) (2,884 ) Deferred loan (fees) costs, net 45 40 Loans held for investment, net $ 341,693 $ 317,248 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 periods ended September 30, 2016 and 2015, respectively: Commercial Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Balance, beginning of period $ 1,346 $ 1,553 $ 1,310 $ 1,716 Provision (recovery) charged to operations 271 (212 ) 342 (501 ) Charge-offs (69 ) (18 ) (131 ) (79 ) Recoveries 12 10 39 197 Net (charge-offs) (57 ) (8 ) (92 ) 118 Balance at end of period $ 1,560 $ 1,333 $ 1,560 $ 1,333 Non-Commercial Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Balance, beginning of period $ 1,360 $ 1,774 $ 1,574 $ 2,022 Provision (recovery) charged to operations (31 ) (111 ) (272 ) (119 ) Charge-offs (118 ) (84 ) (198 ) (385 ) Recoveries 78 49 185 110 Net (charge-offs) (40 ) (35 ) (13 ) (275 ) Balance at end of period $ 1,289 $ 1,628 $ 1,289 $ 1,628 Total Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (dollars in thousands) Balance, beginning of period $ 2,706 $ 3,327 $ 2,884 $ 3,738 Provision (recovery) charged to operations 240 (323 ) 70 (620 ) Charge-offs (187 ) (102 ) (329 ) (464 ) Recoveries 90 59 224 307 Net (charge-offs) (97 ) (43 ) (105 ) (157 ) Balance at end of period $ 2,849 $ 2,961 $ 2,849 $ 2,961 |
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, 2016 and December 31, 2015: September 30, 2016 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 17 $ 1,087 $ 1,543 $ 190,508 $ 1,560 $ 191,595 Non-Commercial 108 4,749 1,181 148,198 1,289 152,947 Total $ 125 $ 5,836 $ 2,724 $ 338,706 $ 2,849 $ 344,542 December 31, 2015 Individually Evaluated Collectively Evaluated Total Reserve Loans Reserve Loans Reserve Loans (dollars in thousands) Commercial $ 18 $ 1,019 $ 1,292 $ 170,182 $ 1,310 $ 171,201 Non-Commercial 163 4,459 1,411 144,472 1,574 148,931 Total $ 181 $ 5,478 $ 2,703 $ 314,654 $ 2,884 $ 320,132 |
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, 2016 Loans 30-89 Days Past Due Loans 90 Days or More Past due Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ 13 $ — $ 13 $ 54,865 $ 54,878 $ — Real estate - commercial 89 395 484 109,014 109,498 — Other real estate construction — 191 191 27,028 27,219 — Real estate 1-4 family construction — — 0 4,794 4,794 — Real estate - residential 1,226 576 1,802 83,501 85,303 — Home equity 75 22 97 51,306 51,403 — Consumer loans 98 — 98 9,617 9,715 — Other loans — — — 1,732 1,732 — Total $ 1,501 $ 1,184 $ 2,685 $ 341,857 $ 344,542 $ — December 31, 2015 Loans 30-89 Days Past Due Loans 90 Days or More Past due and Non - Accrual Total Past Due Loans Current Loans Total Loans Accruing Loans 90 or More Days Past Due (dollars in thousands) Commercial $ 46 $ 34 $ 80 $ 52,231 $ 52,311 $ — Real estate - commercial 74 — 74 101,124 101,198 — Other real estate construction 110 195 305 17,387 17,692 — Real estate construction — — 0 5,629 5,629 — Real estate - residential 1,580 541 2,121 81,298 83,419 — Home equity 75 13 88 49,332 49,420 — Consumer loan 39 — 39 8,943 8,982 — Other loans — — 0 1,481 1,481 — Total $ 1,924 $ 783 $ 2,707 $ 317,425 $ 320,132 $ — |
Composition of Nonaccrual Loans by Class | The composition of nonaccrual loans by class as of September 30, 2016 and December 31, 2015 is as follows: September 30, 2016 December 31, 2015 (dollars in thousands) Commercial $ — $ 34 Real estate - commercial 395 — Other real estate construction 191 195 Real estate 1 – 4 family construction — — Real estate – residential 576 541 Home equity 22 13 Consumer loans — — Other loans — — $ 1,184 $ 783 |
Summary of Risk Grades of Portfolio by Class | The tables below summarize risk grades of the loan portfolio by class at September 30, 2016 and December 31, 2015: September 30, 2016 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 53,579 $ 1,279 $ 20 $ — $ 54,878 Real estate - commercial 104,956 2,051 2,491 — 109,498 Other real estate construction 24,766 1,922 531 — 27,219 Real estate 1 - 4 family construction 4,794 — — — 4,794 Real estate - residential 73,930 9,251 2,122 — 85,303 Home equity 50,363 1,015 25 — 51,403 Consumer loans 9,562 150 3 — 9,715 Other loans 1,732 — — — 1,732 Total $ 323,682 $ 15,668 $ 5,192 $ — $ 344,542 December 31, 2015 Pass Watch Sub- standard Doubtful Total (dollars in thousands) Commercial $ 52,096 $ 130 $ 85 $ — $ 52,311 Real estate - commercial 97,506 1,161 2,531 — 101,198 Other real estate construction 15,163 1,994 535 — 17,692 Real estate 1 - 4 family construction 5,526 103 — — 5,629 Real estate - residential 71,736 9,398 2,285 — 83,419 Home equity 48,195 1,209 16 — 49,420 Consumer loans 8,583 394 5 — 8,982 Other loans 1,481 — — — 1,481 Total $ 300,286 $ 14,389 $ 5,457 $ — $ 320,132 |
Summary of Performing and Nonperforming Loans by Class | The following tables show the breakdown between performing and nonperforming loans by class at September 30, 2016 and December 31, 2015: September 30, 2016 Performing Non- Performing Total (dollars in thousands) Commercial $ 54,878 $ — $ 54,878 Real estate - commercial 109,103 395 109,498 Other real estate construction 27,028 191 27,219 Real estate 1 – 4 family construction 4,794 — 4,794 Real estate – residential 84,727 576 85,303 Home equity 51,381 22 51,403 Consumer loans 9,715 — 9,715 Other loans 1,732 — 1,732 Total $ 343,358 $ 1,184 $ 344,542 December 31, 2015 Performing Non- Performing Total (dollars in thousands) Commercial $ 52,277 $ 34 $ 52,311 Real estate - commercial 101,198 — 101,198 Other real estate construction 17,497 195 17,692 Real estate 1 – 4 family construction 5,629 — 5,629 Real estate – residential 82,878 541 83,419 Home equity 49,407 13 49,420 Consumer loans 8,982 — 8,982 Other loans 1,481 — 1,481 Total $ 319,349 $ 783 $ 320,132 |
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, 2016 and December 31, 2015. September 30, 2016 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 30 $ — $ 30 $ 2 Real estate - commercial 761 471 290 9 Other real estate construction 834 192 104 6 Real estate 1 - 4 family construction 8 — 8 — Real estate - residential 4,640 2,269 2,371 108 Home equity 36 36 — — Consumer loans 65 65 — — Other loans — — — — Total $ 6,374 $ 3,033 $ 2,803 $ 125 December 31, 2015 Unpaid Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Related Allowance (dollars in thousands) Commercial $ 97 $ 80 $ 17 $ 2 Real estate - commercial 620 498 122 9 Other real estate construction 840 195 107 7 Real estate 1 - 4 family construction 13 — 13 — Real estate - residential 4,343 1,507 2,836 163 Home equity 28 28 — — Consumer loans 75 75 — — Other loans — — — — Total $ 6,016 $ 2,383 $ 3,095 $ 181 Three Months ended September 30, 2016 Three Months ended September 30, 2015 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 31 — $ 83 — Real estate - commercial 620 9 968 14 Other real estate construction 297 1 270 1 Real estate 1- 4 family construction 9 1 16 1 Real estate - residential 4,542 65 4,639 53 Home equity 46 — 51 — Consumer loans 71 2 24 — Other loans — — — — Total $ 5,616 $ 78 $ 6,051 $ 69 Nine Months ended September 30, 2016 Nine Months ended September 30, 2015 Average Recorded Investment Interest Income Average Recorded Investment Interest Income (dollars in thousands) Commercial $ 48 $ 1 $ 81 $ 3 Real estate - commercial 624 28 1,374 42 Other real estate construction 299 4 304 2 Real estate 1- 4 family construction 11 1 18 1 Real estate - residential 4,522 176 5,037 154 Home equity 47 1 55 1 Consumer loans 74 5 36 1 Other loans — — — — Total $ 5,625 $ 216 $ 6,905 $ 204 |
Troubled Debt Restructures (Tab
Troubled Debt Restructures (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Breakdown of Types of Concessions Made by Loan Class | For the three and nine months ended September 30, 2016 and 2015, the following table presents a breakdown of the types of concessions made by loan class: For the three months ended September 30, 2016 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 2 226 214 Home equity — — — Consumer loans — — — Other loans — — — Total 2 $ 226 $ 214 For the three months ended September 30, 2015 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 1 76 76 Home equity — — — Consumer loans — — — Other loans — — — Total 1 $ 76 $ 76 For the nine months ended September 30, 2016 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) Other: Commercial — $ — $ — Real estate - commercial — — — Other real estate construction — — — Real estate 1 – 4 family construction — — — Real estate – residential 4 555 482 Home equity — — — Consumer loans — — — Other loans — — — Total 4 $ 555 $ 482 For the nine months ended September 30, 2015 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (dollars in thousands) 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 |
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, 2016 and 2015: Paid In Full Paying as restructured Converted to nonaccrual Foreclosure/ Default Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments Number of Loans Recorded Investments (dollars in thousands) September 30, 2016 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal Other 6 433 8 501 — — 4 59 Total 6 $ 433 8 $ 501 — $ — 4 $ 59 September 30, 2015 Below market Interest rate — $ — — $ — — $ — — $ — Extended payment Terms — — — — — — — — Forgiveness of Principal Other — — 7 795 — — — — Total — $ — 7 $ 795 — $ — — $ — |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Commitments And Contingencies Disclosure [Abstract] | |
Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk | At September 30, 2016, outstanding financial instruments whose contract amounts represent credit risk were approximately: (dollars in thousands) Commitments to extend credit $ 84,397 Credit card commitments 9,718 Standby letters of credit 1,658 Total commitments $ 95,773 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and December 31, 2015: September 30, 2016 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: US Treasury $ 4,045 $ 4,045 $ — $ — US Government Agencies 42,952 — 42,952 — GSE - Mortgage-backed securities and CMO’s 34,230 — 34,230 — State and political subdivisions 14,243 — 14,243 — Corporate bonds 5,043 — 5,043 — Total assets at fair value $ 100,513 $ 4,045 $ 96,468 $ — Total liabilities at fair value $ — $ — $ — $ — December 31, 2015 (dollars in thousands) Total Level 1 Level 2 Level 3 Securities available for sale: US Treasury $ 4,012 $ 4,012 $ — $ — US Gov’t 36,070 — 36,070 — Mortgage-backed securities and CMO’s 29,773 — 29,773 — State and political subdivisions 14,039 — 14,039 — Corporate bonds 5,364 — 5,364 — Total assets at fair value $ 89,258 $ 4,012 $ 85,246 $ — 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, 2016 and December 31, 2015: September 30, 2016 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 2,870 $ — $ — $ 2,870 Other real estate owned 2,309 — — 2,309 Total assets at fair value $ 5,179 $ — $ — $ 5,179 Total liabilities at fair value $ — $ — $ — $ — December 31, 2015 (dollars in thousands) Total Level 1 Level 2 Level 3 Impaired loans $ 3,108 $ — $ — $ 3,108 Other real estate owned 2,909 — — 2,909 Total assets at fair value $ 6,017 $ — $ — $ 6,017 Total liabilities at fair value $ — $ — $ — $ — |
Quantitative Information about Level 3 Fair Value Measurements | Quantitative Information about Level 3 Fair Value Measurements September 30, 2016 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 25% Discounted cash flows Discount Rate 4%-8.75% OREO Discounted appraisals Collateral discounts and Estimated costs to sell 0 – 10% December 31, 2015 Valuation Technique Unobservable Input General Range Nonrecurring measurements: Impaired loans Discounted appraisals Collateral discounts and Estimated costs to sell 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, 2016 | |
Investments All Other Investments [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, 2016 and December 31, 2015: September 30, 2016 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 56,587 $ 56,673 $ 54,097 $ 2,576 $ — Securities available for sale 100,513 100,513 4,045 96,468 — Securities held to maturity 12,023 12,289 — 12,289 — Loans held for investment, net 341,693 341,169 — — 341,169 Loans held for sale 2,538 2,556 — 2,556 — Restricted stock 1,052 1,052 1,052 — — Accrued interest receivable 1,520 1,520 — — 1,520 FINANCIAL LIABILITIES Deposits $ 489,055 $ 466,243 $ — $ 466,243 $ — Short-term borrowings 1,786 1,786 — 1,786 — Long-term borrowings 3 3 — 3 — Junior subordinated debt 9,534 9,680 — — 9,680 Accrued interest payable 150 150 — — 150 December 31, 2015 Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 (dollars in thousands) FINANCIAL ASSETS Cash and cash equivalents $ 68,933 $ 68,973 $ 65,198 $ 3,775 $ — Securities available for sale 89,258 89,258 4,012 85,246 — Securities held to maturity 11,242 11,242 — 11,242 — Loans held for investment, net 317,248 313,649 — — 313,649 Loans held for sale 5,922 5,922 — 5,922 — Restricted stock 1,040 1,040 1,040 — — Accrued interest receivable 1,564 1,564 — — 1,564 FINANCIAL LIABILITIES Deposits $ 467,733 $ 442,619 $ — $ 442,619 $ — Short-term borrowings 5,758 5,758 — 5,758 — Long-term borrowings 13 13 — 13 Junior subordinated debt 9,534 9,688 — — 9,688 Accrued interest payable 168 168 — — 168 |
Comprehensive Income - Accumula
Comprehensive Income - Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Beginning balance | $ 43,314 | |||
Total other comprehensive income (loss) | $ (179) | $ 367 | 409 | $ (6) |
Ending balance | 44,800 | 44,800 | ||
Unrealized Holding Gains on Available-for-Sale Securities (Net) [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Beginning balance | 376 | (68) | (212) | 305 |
Other Comprehensive income (loss) before reclassifications, net of $90,000, ($188,000), ($422,000) and ($191,000) tax effect, respectively | (178) | 367 | 743 | 302 |
Amounts reclassified from accumulated other comprehensive income, net of $1,000, $0, $210,000 and $194,000 tax effect | (1) | (334) | (308) | |
Total other comprehensive income (loss) | (179) | 367 | 409 | (6) |
Ending balance | $ 197 | $ 299 | $ 197 | $ 299 |
Comprehensive Income - Accumu33
Comprehensive Income - Accumulated Other Comprehensive Income (Parenthetical) (Detail) - Unrealized Holding Gains on Available-for-Sale Securities (Net) [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Tax effect on Other Comprehensive income before reclassifications | $ 90 | $ (188) | $ (422) | $ (191) |
Tax effect on amount reclassified from accumulated Other comprehensive income | $ 1 | $ 0 | $ 210 | $ 194 |
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, 2016 | 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) - shares | Oct. 18, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Earnings Per Share Basic And Dilutive [Line Items] | |||
Stock dividend, percentage | 2.00% | ||
Stock options outstanding | 12,859 | 12,859 | |
Subsequent Event [Member] | |||
Earnings Per Share Basic And Dilutive [Line Items] | |||
Stock dividend, percentage | 2.00% | ||
Dividends Payable, date declared | Oct. 18, 2016 | ||
Dividends Payable, date to be paid | Nov. 23, 2016 | ||
Dividends Payable, date of record | Nov. 9, 2016 |
Per Share Data - Computation of
Per Share Data - Computation of Basic and Diluted Earnings Per Share (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Earnings Per Share [Abstract] | ||||
Weighted average number of common shares outstanding | 7,095,112 | 7,174,221 | 7,111,733 | 7,212,308 |
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 | 7,095,112 | 7,174,221 | 7,111,733 | 7,212,308 |
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, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | $ 100,214 | $ 89,580 |
Available-for-sale Securities, Gross Unrealized Gains | 580 | 503 |
Available-for-sale Securities, Gross Unrealized Losses | 281 | 825 |
Available-for-sale Securities, Fair Value | 100,513 | 89,258 |
Held-to-maturity Securities, Amortized Cost | 12,023 | 11,242 |
Held-to-maturity Securities, Gross Unrealized Gains | 266 | 30 |
Held-to-maturity Securities, Gross Unrealized Losses | 30 | |
Held-to-maturity Securities, Fair Value | 12,289 | 11,242 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 5,057 | 5,435 |
Available-for-sale Securities, Gross Unrealized Gains | 10 | |
Available-for-sale Securities, Gross Unrealized Losses | 24 | 71 |
Available-for-sale Securities, Fair Value | 5,043 | 5,364 |
Held-to-maturity Securities, Amortized Cost | 3,281 | 3,338 |
Held-to-maturity Securities, Gross Unrealized Gains | 65 | |
Held-to-maturity Securities, Gross Unrealized Losses | 20 | |
Held-to-maturity Securities, Fair Value | 3,346 | 3,318 |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 4,020 | 4,026 |
Available-for-sale Securities, Gross Unrealized Gains | 25 | |
Available-for-sale Securities, Gross Unrealized Losses | 14 | |
Available-for-sale Securities, Fair Value | 4,045 | 4,012 |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 42,872 | 36,159 |
Available-for-sale Securities, Gross Unrealized Gains | 155 | 99 |
Available-for-sale Securities, Gross Unrealized Losses | 75 | 188 |
Available-for-sale Securities, Fair Value | 42,952 | 36,070 |
Held-to-maturity Securities, Amortized Cost | 1,757 | 1,911 |
Held-to-maturity Securities, Gross Unrealized Gains | 28 | |
Held-to-maturity Securities, Gross Unrealized Losses | 5 | |
Held-to-maturity Securities, Fair Value | 1,785 | 1,906 |
Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 34,101 | 30,269 |
Available-for-sale Securities, Gross Unrealized Gains | 271 | 53 |
Available-for-sale Securities, Gross Unrealized Losses | 142 | 549 |
Available-for-sale Securities, Fair Value | 34,230 | 29,773 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost | 14,164 | 13,691 |
Available-for-sale Securities, Gross Unrealized Gains | 119 | 351 |
Available-for-sale Securities, Gross Unrealized Losses | 40 | 3 |
Available-for-sale Securities, Fair Value | 14,243 | 14,039 |
Held-to-maturity Securities, Amortized Cost | 6,985 | 5,993 |
Held-to-maturity Securities, Gross Unrealized Gains | 173 | 30 |
Held-to-maturity Securities, Gross Unrealized Losses | 5 | |
Held-to-maturity Securities, Fair Value | $ 7,158 | $ 6,018 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($)Security | Sep. 30, 2016USD ($)Security | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($)Security | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Federal Reserve stock owned by Company | $ | $ 507,000 | $ 507,000 | $ 507,000 | |
Federal Home Loan Bank stock | $ | 545,000 | 545,000 | 533,000 | |
Sales of securities | $ | 0 | 20,225,000 | $ 29,739,000 | |
Adjustment from security sale transaction, realized | $ | 2,000 | 544,000 | $ 502,000 | |
Securities available for sale pledged as collateral on public deposits | $ | $ 77,900,000 | $ 77,900,000 | $ 68,800,000 | |
U.S. Government Agencies [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Number of available for sale securities related to unrealized losses more than twelve months | 6 | 6 | ||
Number of available for sale securities related to unrealized losses less than twelve months | 3 | 3 | ||
Number of available for sale securities related to unrealized losses | 5 | |||
Number of securities related to unrealized losses | 1 | |||
Mortgage-backed Securities and CMO's [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Number of available for sale securities related to unrealized losses more than twelve months | 3 | 3 | ||
Number of available for sale securities related to unrealized losses less than twelve months | 6 | 6 | ||
Number of available for sale securities related to unrealized losses | 8 | |||
Available for sale securities | $ | $ 0 | |||
States And Political [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Number of available for sale securities related to unrealized losses less than twelve months | 4 | 4 | ||
U.S. Treasury [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Number of available for sale securities related to unrealized losses | 1 | |||
State and Political Subdivisions [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Number of available for sale securities related to unrealized losses | 1 | |||
Number of securities related to unrealized losses | 2 | |||
Corporate Bonds [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Number of available for sale securities related to unrealized losses more than twelve months | 2 | 2 | ||
Number of available for sale securities related to unrealized losses | 2 | |||
Number of securities related to unrealized losses | 2 | |||
Held-to-maturity Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Unrealized losses on held to maturity securities | $ | $ 0 |
Investment Securities - Sales o
Investment Securities - Sales of Securities Available for Sale (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Investments Debt And Equity Securities [Abstract] | ||||
Gross proceeds from sales | $ 0 | $ 20,225 | $ 29,739 | |
Realized gains from sales | 2 | 544 | 502 | |
Realized losses from sales | 0 | $ 0 | 0 | 0 |
Net realized gains | $ 2 | $ 544 | $ 502 |
Investment Securities - Gross U
Investment Securities - Gross Unrealized Losses and Fair Value of Investments (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | $ 23,118 | $ 41,356 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 128 | 490 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 11,798 | 13,076 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 153 | 335 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 34,916 | 54,432 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 281 | 825 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 6,536 | |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 30 | |
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 | 6,536 | |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 30 | |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 4,566 | |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 55 | |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 3,005 | 798 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 24 | 16 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 3,005 | 5,364 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 24 | 71 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 1,312 | |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 20 | |
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 | 1,312 | |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 20 | |
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 | 7,094 | 16,692 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 18 | 128 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 4,422 | 5,048 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 57 | 60 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 11,516 | 21,740 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 75 | 188 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 1,906 | |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 5 | |
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 | 1,906 | |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | 5 | |
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 | 8,837 | 15,620 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 70 | 290 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Fair Value | 4,371 | 7,230 |
Available-for-sale Securities, Gross unrealized losses, Twelve Months or More, Unrealized Losses | 72 | 259 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 13,208 | 22,850 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 142 | 549 |
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 | 4,013 | |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 14 | |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 4,013 | |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | 14 | |
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 | 7,187 | 465 |
Available-for-sale Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 40 | 3 |
Available-for-sale Securities, Gross unrealized losses, Fair Value | 7,187 | 465 |
Available-for-sale Securities, Gross unrealized losses, Unrealized Losses | $ 40 | 3 |
Held-to-maturity Securities, Gross unrealized losses, Less than Twelve Months, Fair Value | 3,318 | |
Held-to-maturity-Securities, Gross unrealized losses, Less than Twelve Months, Unrealized Losses | 5 | |
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 | 3,318 | |
Held-to-maturity Securities, Gross unrealized losses, Unrealized Losses | $ 5 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Fair Value of Available for Sale Securities Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 37,502 | |
Due after five but within ten years, Amortized Cost | 25,730 | |
Due after ten years, Amortized Cost | 36,982 | |
Available-for-sale Securities, Amortized Cost | 100,214 | $ 89,580 |
Due after one but within five years, Estimated Fair Value | 37,785 | |
Due after five but within ten years, Estimated Fair Value | 25,847 | |
Due after ten years, Estimated Fair Value | 36,881 | |
Fair Value | $ 100,513 | 89,258 |
Due after one but within five years, Book Yield | 1.54% | |
Due after five but within ten years, Book Yield | 2.24% | |
Due after ten years, Book Yield | 1.89% | |
Total securities available for sale, Book Yield | 1.85% | |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 2,839 | |
Due after five but within ten years, Amortized Cost | 2,218 | |
Available-for-sale Securities, Amortized Cost | 5,057 | 5,435 |
Due after one but within five years, Estimated Fair Value | 2,832 | |
Due after five but within ten years, Estimated Fair Value | 2,211 | |
Fair Value | $ 5,043 | 5,364 |
Due after one but within five years, Book Yield | 2.15% | |
Due after five but within ten years, Book Yield | 1.50% | |
Total securities available for sale, Book Yield | 1.86% | |
U.S. Treasury [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 4,020 | |
Available-for-sale Securities, Amortized Cost | 4,020 | 4,026 |
Due after one but within five years, Estimated Fair Value | 4,045 | |
Fair Value | $ 4,045 | 4,012 |
Due after one but within five years, Book Yield | 1.13% | |
Total securities available for sale, Book Yield | 1.13% | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 25,213 | |
Due after five but within ten years, Amortized Cost | 8,344 | |
Due after ten years, Amortized Cost | 9,315 | |
Available-for-sale Securities, Amortized Cost | 42,872 | 36,159 |
Due after one but within five years, Estimated Fair Value | 25,344 | |
Due after five but within ten years, Estimated Fair Value | 8,339 | |
Due after ten years, Estimated Fair Value | 9,269 | |
Fair Value | $ 42,952 | 36,070 |
Due after one but within five years, Book Yield | 1.24% | |
Due after five but within ten years, Book Yield | 1.97% | |
Due after ten years, Book Yield | 1.35% | |
Total securities available for sale, Book Yield | 1.40% | |
Mortgage-backed Securities and CMO's [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 3,557 | |
Due after five but within ten years, Amortized Cost | 13,564 | |
Due after ten years, Amortized Cost | 16,980 | |
Available-for-sale Securities, Amortized Cost | 34,101 | 30,269 |
Due after one but within five years, Estimated Fair Value | 3,602 | |
Due after five but within ten years, Estimated Fair Value | 13,678 | |
Due after ten years, Estimated Fair Value | 16,950 | |
Fair Value | $ 34,230 | 29,773 |
Due after one but within five years, Book Yield | 1.98% | |
Due after five but within ten years, Book Yield | 2.04% | |
Due after ten years, Book Yield | 1.93% | |
Total securities available for sale, Book Yield | 1.98% | |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 1,873 | |
Due after five but within ten years, Amortized Cost | 1,604 | |
Due after ten years, Amortized Cost | 10,687 | |
Available-for-sale Securities, Amortized Cost | 14,164 | 13,691 |
Due after one but within five years, Estimated Fair Value | 1,962 | |
Due after five but within ten years, Estimated Fair Value | 1,619 | |
Due after ten years, Estimated Fair Value | 10,662 | |
Fair Value | $ 14,243 | $ 14,039 |
Due after one but within five years, Book Yield | 4.78% | |
Due after five but within ten years, Book Yield | 6.31% | |
Due after ten years, Book Yield | 2.30% | |
Total securities available for sale, Book Yield | 3.08% |
Investment Securities - Amort42
Investment Securities - Amortized Cost and Fair Value of Held to Maturity Securities Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 6,237 | |
Due after five but within ten years, Amortized Cost | 5,786 | |
Total Securities held for maturity, Amortized Cost | 12,023 | |
Due after one but within five years, Estimated Fair Value | 6,353 | |
Due after five but within ten years, Estimated Fair Value | 5,936 | |
Total Securities held for maturity, Estimated Fair Value | $ 12,289 | $ 11,242 |
Due after one but within five years | 2.50% | |
Due after five but within ten years | 2.81% | |
Total Securities held for maturity, Estimated Fair Value | 2.65% | |
U.S. Government Agencies [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after five but within ten years, Amortized Cost | $ 1,757 | |
Total Securities held for maturity, Amortized Cost | 1,757 | |
Due after five but within ten years, Estimated Fair Value | 1,785 | |
Total Securities held for maturity, Estimated Fair Value | $ 1,785 | 1,906 |
Due after five but within ten years | 2.49% | |
Total Securities held for maturity, Estimated Fair Value | 2.49% | |
State and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 2,956 | |
Due after five but within ten years, Amortized Cost | 4,029 | |
Total Securities held for maturity, Amortized Cost | 6,985 | |
Due after one but within five years, Estimated Fair Value | 3,007 | |
Due after five but within ten years, Estimated Fair Value | 4,151 | |
Total Securities held for maturity, Estimated Fair Value | $ 7,158 | 6,018 |
Due after five but within ten years | 2.21% | |
Due after ten years, Book Yield | 2.95% | |
Total Securities held for maturity, Estimated Fair Value | 2.63% | |
Corporate Bonds [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due after one but within five years, Amortized Cost | $ 3,281 | |
Total Securities held for maturity, Amortized Cost | 3,281 | |
Due after one but within five years, Estimated Fair Value | 3,346 | |
Total Securities held for maturity, Estimated Fair Value | $ 3,346 | $ 3,318 |
Due after one but within five years | 2.76% | |
Total Securities held for maturity, Estimated Fair Value | 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, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | $ 344,497 | $ 320,092 | ||||
Less: | ||||||
Allowance for loan losses | (2,849) | $ (2,706) | (2,884) | $ (2,961) | $ (3,327) | $ (3,738) |
Deferred loan (fees) costs, net | 45 | 40 | ||||
Net loans held for investment | 341,693 | 317,248 | ||||
Commercial [Member] | ||||||
Less: | ||||||
Allowance for loan losses | (1,560) | (1,346) | (1,310) | (1,333) | (1,553) | (1,716) |
Commercial [Member] | Commercial Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 54,878 | 52,311 | ||||
Commercial [Member] | Real Estate - Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 109,498 | 101,198 | ||||
Commercial [Member] | Other Real Estate Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 27,219 | 17,692 | ||||
Non-Commercial [Member] | ||||||
Less: | ||||||
Allowance for loan losses | (1,289) | $ (1,360) | (1,574) | $ (1,628) | $ (1,774) | $ (2,022) |
Non-Commercial [Member] | Consumer Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 9,715 | 8,982 | ||||
Non-Commercial [Member] | Real Estate 1 - 4 Family Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 4,794 | 5,629 | ||||
Non-Commercial [Member] | Real Estate - Residential [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 85,258 | 83,379 | ||||
Non-Commercial [Member] | Home Equity [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | 51,403 | 49,420 | ||||
Non-Commercial [Member] | Other Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans, Total | $ 1,732 | $ 1,481 |
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | $ 2,706 | $ 3,327 | $ 2,884 | $ 3,738 |
Provision (recovery) charged to operations | 240 | (323) | 70 | (620) |
Charge-offs | (187) | (102) | (329) | (464) |
Recoveries | 90 | 59 | 224 | 307 |
Net (charge-offs) | (97) | (43) | (105) | (157) |
Balance at end of period | 2,849 | 2,961 | 2,849 | 2,961 |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | 1,346 | 1,553 | 1,310 | 1,716 |
Provision (recovery) charged to operations | 271 | (212) | 342 | (501) |
Charge-offs | (69) | (18) | (131) | (79) |
Recoveries | 12 | 10 | 39 | 197 |
Net (charge-offs) | (57) | (8) | (92) | 118 |
Balance at end of period | 1,560 | 1,333 | 1,560 | 1,333 |
Non-Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, beginning of period | 1,360 | 1,774 | 1,574 | 2,022 |
Provision (recovery) charged to operations | (31) | (111) | (272) | (119) |
Charge-offs | (118) | (84) | (198) | (385) |
Recoveries | 78 | 49 | 185 | 110 |
Net (charge-offs) | (40) | (35) | (13) | (275) |
Balance at end of period | $ 1,289 | $ 1,628 | $ 1,289 | $ 1,628 |
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, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | $ 125 | $ 181 | ||||
Individually Evaluated, Loans | 5,836 | 5,478 | ||||
Collectively Evaluated, Reserve | 2,724 | 2,703 | ||||
Collectively Evaluated, Loans | 338,706 | 314,654 | ||||
Total Reserve | 2,849 | $ 2,706 | 2,884 | $ 2,961 | $ 3,327 | $ 3,738 |
Total Loans | 344,542 | 320,132 | ||||
Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | 17 | 18 | ||||
Individually Evaluated, Loans | 1,087 | 1,019 | ||||
Collectively Evaluated, Reserve | 1,543 | 1,292 | ||||
Collectively Evaluated, Loans | 190,508 | 170,182 | ||||
Total Reserve | 1,560 | 1,346 | 1,310 | 1,333 | 1,553 | 1,716 |
Total Loans | 191,595 | 171,201 | ||||
Non-Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually Evaluated, Reserve | 108 | 163 | ||||
Individually Evaluated, Loans | 4,749 | 4,459 | ||||
Collectively Evaluated, Reserve | 1,181 | 1,411 | ||||
Collectively Evaluated, Loans | 148,198 | 144,472 | ||||
Total Reserve | 1,289 | $ 1,360 | 1,574 | $ 1,628 | $ 1,774 | $ 2,022 |
Total Loans | $ 152,947 | $ 148,931 |
Allowance for Loan Losses - Pas
Allowance for Loan Losses - Past Due Information of Loan Portfolio by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | $ 2,685 | $ 2,707 |
Current Loans | 341,857 | 317,425 |
Total Loans | 344,542 | 320,132 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 13 | 80 |
Current Loans | 54,865 | 52,231 |
Total Loans | 54,878 | 52,311 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Consumer Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 98 | 39 |
Current Loans | 9,617 | 8,943 |
Total Loans | 9,715 | 8,982 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate - Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 484 | 74 |
Current Loans | 109,014 | 101,124 |
Total Loans | 109,498 | 101,198 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 191 | 305 |
Current Loans | 27,028 | 17,387 |
Total Loans | 27,219 | 17,692 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 0 | |
Current Loans | 4,794 | |
Total Loans | 4,794 | 5,629 |
Accruing Loans 90 or More Days Past Due | 0 | |
Real Estate - Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 1,802 | 2,121 |
Current Loans | 83,501 | 81,298 |
Total Loans | 85,303 | 83,419 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 97 | 88 |
Current Loans | 51,306 | 49,332 |
Total Loans | 51,403 | 49,420 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Other Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 0 | |
Current Loans | 1,732 | 1,481 |
Total Loans | 1,732 | 1,481 |
Accruing Loans 90 or More Days Past Due | 0 | 0 |
Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 0 | |
Current Loans | 5,629 | |
Total Loans | 5,629 | |
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 | 1,501 | 1,924 |
Loans 30-89 Days Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 13 | 46 |
Loans 30-89 Days Past Due [Member] | Consumer Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 98 | 39 |
Loans 30-89 Days Past Due [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 89 | 74 |
Loans 30-89 Days Past Due [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 110 | |
Loans 30-89 Days Past Due [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 1,226 | 1,580 |
Loans 30-89 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 75 | 75 |
Loans 90 Days or More Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 1,184 | 783 |
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 | 395 | |
Loans 90 Days or More Past Due [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 191 | 195 |
Loans 90 Days or More Past Due [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | 576 | 541 |
Loans 90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Total Past Due Loans | $ 22 | $ 13 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Allowance For Loan Losses [Line Items] | ||
Financing receivable recorded investment number of days past due | 90 days | |
Accruing Loans 90 or More Days Past Due | $ 0 | $ 0 |
Real Estate - Residential [Member] | ||
Allowance For Loan Losses [Line Items] | ||
Foreclosed residential real estate, loan amount | 1,400,000 | |
Residential real estate in process of foreclosure, loan amount | 347,000 | |
Accruing Loans 90 or More Days Past Due | $ 0 | $ 0 |
Allowance for Loan Losses - Com
Allowance for Loan Losses - Composition of Nonaccrual Loans by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | $ 2,685 | $ 2,707 |
Real Estate - Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 484 | 74 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 191 | 305 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 0 | |
Real Estate - Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 1,802 | 2,121 |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 97 | 88 |
Other Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 0 | |
Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 13 | 80 |
Consumer Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 98 | 39 |
Loans 90 Days or More Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 1,184 | 783 |
Loans 90 Days or More Past Due [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 395 | |
Loans 90 Days or More Past Due [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 191 | 195 |
Loans 90 Days or More Past Due [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | 576 | 541 |
Loans 90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | $ 22 | 13 |
Loans 90 Days or More Past Due [Member] | Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Increase in non-performing loans | $ 34 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Risk Grades of Portfolio by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 344,542 | $ 320,132 |
Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 109,498 | 101,198 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 27,219 | 17,692 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,794 | 5,629 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 85,303 | 83,419 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 51,403 | 49,420 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,732 | 1,481 |
Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 54,878 | 52,311 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,715 | 8,982 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 323,682 | 300,286 |
Pass [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 104,956 | 97,506 |
Pass [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 24,766 | 15,163 |
Pass [Member] | Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,794 | 5,526 |
Pass [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 73,930 | 71,736 |
Pass [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 50,363 | 48,195 |
Pass [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,732 | 1,481 |
Pass [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 53,579 | 52,096 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,562 | 8,583 |
Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 15,668 | 14,389 |
Watch [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,051 | 1,161 |
Watch [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,922 | 1,994 |
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 | 9,251 | 9,398 |
Watch [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,015 | 1,209 |
Watch [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,279 | 130 |
Watch [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 150 | 394 |
Sub-standard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,192 | 5,457 |
Sub-standard [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,491 | 2,531 |
Sub-standard [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 531 | 535 |
Sub-standard [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,122 | 2,285 |
Sub-standard [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 25 | 16 |
Sub-standard [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 20 | 85 |
Sub-standard [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 3 | $ 5 |
Allowance for Loan Losses - S50
Allowance for Loan Losses - Summary of Performing and Nonperforming Loans by Class (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 344,542 | $ 320,132 |
Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 109,498 | 101,198 |
Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 27,219 | 17,692 |
Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,794 | 5,629 |
Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 85,303 | 83,419 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 51,403 | 49,420 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,732 | 1,481 |
Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 54,878 | 52,311 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,715 | 8,982 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 343,358 | 319,349 |
Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 109,103 | 101,198 |
Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 27,028 | 17,497 |
Performing [Member] | Real Estate 1 - 4 Family Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,794 | 5,629 |
Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 84,727 | 82,878 |
Performing [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 51,381 | 49,407 |
Performing [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,732 | 1,481 |
Performing [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 54,878 | 52,277 |
Performing [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,715 | 8,982 |
Non-Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,184 | 783 |
Non-Performing [Member] | Real Estate - Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 395 | |
Non-Performing [Member] | Other Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 191 | 195 |
Non-Performing [Member] | Real Estate - Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 576 | 541 |
Non-Performing [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 22 | 13 |
Non-Performing [Member] | Commercial Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 34 |
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | $ 6,374 | $ 6,374 | $ 6,016 | ||
Recorded Investment With No Allowance | 3,033 | 3,033 | 2,383 | ||
Recorded Investment With Allowance | 2,803 | 2,803 | 3,095 | ||
Related Allowance | 125 | 125 | 181 | ||
Average Recorded Investment | 5,616 | $ 6,051 | 5,625 | $ 6,905 | |
Interest Income | 78 | 69 | 216 | 204 | |
Real Estate - Commercial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 761 | 761 | 620 | ||
Recorded Investment With No Allowance | 471 | 471 | 498 | ||
Recorded Investment With Allowance | 290 | 290 | 122 | ||
Related Allowance | 9 | 9 | 9 | ||
Average Recorded Investment | 620 | 968 | 624 | 1,374 | |
Interest Income | 9 | 14 | 28 | 42 | |
Other Real Estate Construction [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 834 | 834 | 840 | ||
Recorded Investment With No Allowance | 192 | 192 | 195 | ||
Recorded Investment With Allowance | 104 | 104 | 107 | ||
Related Allowance | 6 | 6 | 7 | ||
Average Recorded Investment | 297 | 270 | 299 | 304 | |
Interest Income | 1 | 1 | 4 | 2 | |
Real Estate 1 - 4 Family Construction [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 8 | 8 | 13 | ||
Recorded Investment With Allowance | 8 | 8 | 13 | ||
Average Recorded Investment | 9 | 16 | 11 | 18 | |
Interest Income | 1 | 1 | 1 | 1 | |
Real Estate - Residential [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 4,640 | 4,640 | 4,343 | ||
Recorded Investment With No Allowance | 2,269 | 2,269 | 1,507 | ||
Recorded Investment With Allowance | 2,371 | 2,371 | 2,836 | ||
Related Allowance | 108 | 108 | 163 | ||
Average Recorded Investment | 4,542 | 4,639 | 4,522 | 5,037 | |
Interest Income | 65 | 53 | 176 | 154 | |
Home Equity [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 36 | 36 | 28 | ||
Recorded Investment With No Allowance | 36 | 36 | 28 | ||
Average Recorded Investment | 46 | 51 | 47 | 55 | |
Interest Income | 1 | 1 | |||
Commercial Loan [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 30 | 30 | 97 | ||
Recorded Investment With No Allowance | 80 | ||||
Recorded Investment With Allowance | 30 | 30 | 17 | ||
Related Allowance | 2 | 2 | 2 | ||
Average Recorded Investment | 31 | 83 | 48 | 81 | |
Interest Income | 1 | 3 | |||
Consumer Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance | 65 | 65 | 75 | ||
Recorded Investment With No Allowance | 65 | 65 | $ 75 | ||
Average Recorded Investment | 71 | $ 24 | 74 | 36 | |
Interest Income | $ 2 | $ 5 | $ 1 |
Troubled Debt Restructures - Ad
Troubled Debt Restructures - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Receivables [Abstract] | ||
Troubled debt restructuring outstanding | $ 4,100,000 | |
TDR's which was default payment | $ 0 | $ 0 |
TDR is defined as being past due | 90 days | |
Allowance for loan loss on TDR | $ 106,000 | $ 188,000 |
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, 2016USD ($)Contract | Sep. 30, 2015USD ($)Contract | Sep. 30, 2016USD ($)Contract | Sep. 30, 2015USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 2 | 1 | 4 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 226 | $ 76 | $ 555 | $ 795 |
Post-Modification Outstanding Recorded Investment | $ 214 | $ 76 | $ 482 | $ 623 |
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 | |||
Pre-Modification Outstanding Recorded Investment | $ 265 | |||
Post-Modification Outstanding Recorded Investment | $ 123 | |||
Other Payment Terms [Member] | Real Estate - Residential [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 2 | 1 | 4 | 5 |
Pre-Modification Outstanding Recorded Investment | $ 226 | $ 76 | $ 555 | $ 482 |
Post-Modification Outstanding Recorded Investment | $ 214 | $ 76 | $ 482 | $ 471 |
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, 2016USD ($)Contract | Sep. 30, 2015USD ($)Contract | Sep. 30, 2016USD ($)ContractLoan | Sep. 30, 2015USD ($)ContractLoan | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Contract | 2 | 1 | 4 | 7 |
Recorded Investments | $ 4,100 | $ 4,100 | ||
Paid In Full [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 6 | |||
Recorded Investments | 433 | $ 433 | ||
Paid In Full [Member] | Forgiveness of Principal Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 6 | |||
Recorded Investments | 433 | $ 433 | ||
Paying as Restructured [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 8 | 7 | ||
Recorded Investments | 501 | $ 795 | $ 501 | $ 795 |
Paying as Restructured [Member] | Forgiveness of Principal Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 8 | 7 | ||
Recorded Investments | 501 | $ 795 | $ 501 | $ 795 |
Foreclosure/ Default [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 4 | |||
Recorded Investments | 59 | $ 59 | ||
Foreclosure/ Default [Member] | Forgiveness of Principal Other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | Loan | 4 | |||
Recorded Investments | $ 59 | $ 59 |
Commitments and Contingencies -
Commitments and Contingencies - Outstanding Financial Instruments Whose Contract Amounts Represent Credit Risk (Detail) $ in Thousands | Sep. 30, 2016USD ($) |
Loss Contingencies [Line Items] | |
Total commitments | $ 95,773 |
Commitments to Extend Credit [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | 84,397 |
Credit Card Commitments [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | 9,718 |
Standby Letters of Credit [Member] | |
Loss Contingencies [Line Items] | |
Total commitments | $ 1,658 |
Commitments and Contingencies56
Commitments and Contingencies - Additional Information (Detail) - Uwharrie Bank [Member] - Commercial Property [Member] | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Loss Contingencies [Line Items] | |
Operating lease, term of contract | 5 years |
Lease expiration date | Sep. 30, 2021 |
Annual cost of lease | $ 151,875 |
Lease annual adjustor percentage | 2.625% |
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, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 100,513 | $ 89,258 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 5,043 | 5,364 |
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 | 100,513 | 89,258 |
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 | 4,045 | 4,012 |
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 | 42,952 | 36,070 |
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 | 34,230 | 29,773 |
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 | 14,243 | 14,039 |
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 | 4,045 | 4,012 |
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 | 4,045 | 4,012 |
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 | 96,468 | 85,246 |
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 | 42,952 | 36,070 |
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 | 34,230 | 29,773 |
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 | 14,243 | 14,039 |
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 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 | 5,043 | 5,364 |
Fair Value on a Recurring Basis [Member] | Corporate Bonds [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $ 5,043 | $ 5,364 |
Fair Value Disclosures - Assets
Fair Value Disclosures - Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | $ 100,513 | $ 89,258 |
Fair Value on a Nonrecurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 2,870 | 3,108 |
Other real estate owned | 2,309 | 2,909 |
Fair Value | 5,179 | 6,017 |
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 | 2,870 | 3,108 |
Other real estate owned | 2,309 | 2,909 |
Fair Value | 5,179 | 6,017 |
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, 2016 | Dec. 31, 2015 | |
Discounted Cash Flows [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted cash flows | |
Discounted Cash Flows [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 4.00% | 4.00% |
Discounted Cash Flows [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 8.75% | 8.75% |
Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted appraisals | |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 0.00% | 0.00% |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 25.00% | 25.00% |
OREO [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Valuation Technique | Discounted appraisals | |
OREO [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair value inputs discount rate and estimated costs to sell | 0.00% | 0.00% |
OREO [Member] | Maximum [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 Inst60
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, 2016 | Dec. 31, 2015 |
FINANCIAL ASSETS | ||
Securities held to maturity | $ 12,289 | $ 11,242 |
Loans held for investment, net | 341,693 | 317,248 |
Accrued interest receivable | 1,520 | 1,564 |
FINANCIAL LIABILITIES | ||
Accrued interest payable | 150 | 168 |
Carrying Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 56,587 | 68,933 |
Securities available for sale | 100,513 | 89,258 |
Securities held to maturity | 12,023 | 11,242 |
Loans held for investment, net | 341,693 | 317,248 |
Loans held for sale | 2,538 | 5,922 |
Restricted stock | 1,052 | 1,040 |
Accrued interest receivable | 1,520 | 1,564 |
FINANCIAL LIABILITIES | ||
Deposits | 489,055 | 467,733 |
Short-term borrowings | 1,786 | 5,758 |
Long-term borrowings | 3 | 13 |
Junior subordinated debt | 9,534 | 9,534 |
Accrued interest payable | 150 | 168 |
Estimated Fair Value [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 56,673 | 68,973 |
Securities available for sale | 100,513 | 89,258 |
Securities held to maturity | 12,289 | 11,242 |
Loans held for investment, net | 341,169 | 313,649 |
Loans held for sale | 2,556 | 5,922 |
Restricted stock | 1,052 | 1,040 |
Accrued interest receivable | 1,520 | 1,564 |
FINANCIAL LIABILITIES | ||
Deposits | 466,243 | 442,619 |
Short-term borrowings | 1,786 | 5,758 |
Long-term borrowings | 3 | 13 |
Junior subordinated debt | 9,680 | 9,688 |
Accrued interest payable | 150 | 168 |
Level 1 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 54,097 | 65,198 |
Securities available for sale | 4,045 | 4,012 |
Restricted stock | 1,052 | 1,040 |
Level 2 [Member] | ||
FINANCIAL ASSETS | ||
Cash and cash equivalents | 2,576 | 3,775 |
Securities available for sale | 96,468 | 85,246 |
Securities held to maturity | 12,289 | 11,242 |
Loans held for sale | 2,556 | 5,922 |
FINANCIAL LIABILITIES | ||
Deposits | 466,243 | 442,619 |
Short-term borrowings | 1,786 | 5,758 |
Long-term borrowings | 3 | 13 |
Level 3 [Member] | ||
FINANCIAL ASSETS | ||
Loans held for investment, net | 341,169 | 313,649 |
Accrued interest receivable | 1,520 | 1,564 |
FINANCIAL LIABILITIES | ||
Junior subordinated debt | 9,680 | 9,688 |
Accrued interest payable | $ 150 | $ 168 |
Fair Values of Financial Inst61
Fair Values of Financial Instruments and Interest Rate Risk - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2016 | |
Fair Value Assets And Liabilities Measured On Recurring Basis [Abstract] | |
Short term borrowings due period | 1 year |
Recent Accounting Pronounceme62
Recent Accounting Pronouncements - Additional Information (Detail) | Oct. 18, 2016 | Sep. 30, 2016 |
Subsequent Event [Line Items] | ||
Stock dividend, percentage | 2.00% | |
Subsequent Event [Member] | ||
Subsequent Event [Line Items] | ||
Stock dividend, percentage | 2.00% | |
Dividends Payable, date declared | Oct. 18, 2016 | |
Dividends Payable, date to be paid | Nov. 23, 2016 | |
Dividends Payable, date of record | Nov. 9, 2016 |