Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | ||
Sep. 30, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | |
Common Class A [Member] | Common Class B [Member] | ||
Entity Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'ROYAL BANCSHARES OF PENNSYLVANIA INC | ' | ' |
Entity Central Index Key | '0000922487 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 27,801,904 | 1,931,692 |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Sep-14 | ' | ' |
Consolidated_Balance_Sheets_un
Consolidated Balance Sheets (unaudited) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
ASSETS | ' | ' |
Cash and due from banks | $8,850,000 | $9,154,000 |
Interest bearing deposits | 13,083,000 | 7,690,000 |
Total cash and cash equivalents | 21,933,000 | 16,844,000 |
Investment securities available-for-sale (bAFSb), at fair value | 265,390,000 | 308,727,000 |
Other investment, at cost | 2,250,000 | 2,250,000 |
Federal Home Loan Bank ("FHLB") stock | 3,678,000 | 4,204,000 |
Loans and leases held for sale ("LHFS") | 1,018,000 | 1,446,000 |
Loans and leases ("LHFI") | 397,176,000 | 366,481,000 |
Less allowance for loan and lease losses | 11,482,000 | 13,671,000 |
Net loans and leases | 385,694,000 | 352,810,000 |
Bank owned life insurance | 15,508,000 | 15,124,000 |
Accrued interest receivable | 5,554,000 | 7,054,000 |
Other real estate owned ("OREO"), net | 9,593,000 | 9,617,000 |
Premises and equipment, net | 4,803,000 | 4,475,000 |
Other assets | 8,048,000 | 9,703,000 |
Total assets | 723,469,000 | 732,254,000 |
Deposits | ' | ' |
Non-interest bearing | 67,901,000 | 60,473,000 |
Interest bearing | 447,885,000 | 468,491,000 |
Total deposits | 515,786,000 | 528,964,000 |
Short-term borrowings | ' | 10,000,000 |
Long-term borrowings | 97,540,000 | 97,881,000 |
Subordinated debentures | 25,774,000 | 25,774,000 |
Accrued interest payable | 2,305,000 | 965,000 |
Other liabilities | 19,531,000 | 20,865,000 |
Total liabilities | 660,936,000 | 684,449,000 |
Royal Bancshares of Pennsylvania, Inc. equity: | ' | ' |
Preferred stock, Series A perpetual, $1,000 liquidation value, 500,000 shares authorized, 30,407 shares issued and outstanding at June 30, 2014 and December 31, 2013 | 18,856,000 | 29,950,000 |
Additional paid in capital | 111,095,000 | 127,299,000 |
Accumulated deficit | -116,676,000 | -120,396,000 |
Accumulated other comprehensive loss | -1,815,000 | -6,122,000 |
Treasury stock - at cost, shares of Class A, 414,384 and 453,077 at September 30, 2014 and December 31, 2013 | -5,795,000 | -6,336,000 |
Total Royal Bancshares of Pennsylvania, Inc. shareholdersb equity | 62,258,000 | 47,534,000 |
Noncontrolling interest | 275,000 | 271,000 |
Total equity | 62,533,000 | 47,805,000 |
Total liabilities and shareholders' equity | 723,469,000 | 732,254,000 |
Common Class A [Member] | ' | ' |
Royal Bancshares of Pennsylvania, Inc. equity: | ' | ' |
Common stock | 56,400,000 | 22,940,000 |
Total equity | 56,400,000 | 22,940,000 |
Common Class B [Member] | ' | ' |
Royal Bancshares of Pennsylvania, Inc. equity: | ' | ' |
Common stock | 193,000 | 199,000 |
Total equity | $193,000 | $199,000 |
Consolidated_Balance_Sheets_un1
Consolidated Balance Sheets (unaudited) (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Royal Bancshares of Pennsylvania, Inc. equity: | ' | ' |
Preferred stock, liquidation value (in dollars per share) | $1,000 | $1,000 |
Preferred stock, shares authorized (in shares) | 500,000 | 500,000 |
Preferred stock, shares outstanding (in shares) | 18,856 | 30,407 |
Common Class A [Member] | ' | ' |
Royal Bancshares of Pennsylvania, Inc. equity: | ' | ' |
Common stock, par value (in dollars per share) | $2 | $2 |
Common stock, shares authorized (in shares) | 40,000,000 | 40,000,000 |
Common stock, shares issued (in shares) | 28,200,269 | 11,469,940 |
Treasury stock, shares (in shares) | 414,384 | 453,077 |
Common Class B [Member] | ' | ' |
Royal Bancshares of Pennsylvania, Inc. equity: | ' | ' |
Common stock, par value (in dollars per share) | $0.10 | $0.10 |
Common stock, shares authorized (in shares) | 3,000,000 | 3,000,000 |
Common stock, shares issued (in shares) | 1,931,692 | 1,987,142 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations - (unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Interest Income | ' | ' | ' | ' |
Loans and leases, including fees | $5,451 | $5,426 | $15,925 | $16,331 |
Investment securities AFS | 1,734 | 1,528 | 5,610 | 4,103 |
Deposits in banks | 6 | 6 | 16 | 21 |
Total Interest Income | 7,191 | 6,960 | 21,551 | 20,455 |
Interest Expense | ' | ' | ' | ' |
Deposits | 900 | 983 | 2,712 | 3,061 |
Short-term borrowings | 1 | 6 | 13 | 17 |
Long-term borrowings | 722 | 901 | 2,145 | 2,589 |
Total Interest Expense | 1,623 | 1,890 | 4,870 | 5,667 |
Net Interest Income | 5,568 | 5,070 | 16,681 | 14,788 |
(Credit) provision for loan and lease losses | -51 | 218 | -765 | -196 |
Net Interest Income after (Credit) Provision for Loan and Lease Losses | 5,619 | 4,852 | 17,446 | 14,984 |
Non-interest Income | ' | ' | ' | ' |
Service charges and fees | 248 | 363 | 779 | 1,001 |
Net gains on sales of loans and leases | 80 | 241 | 223 | 257 |
Net gains on sales of other real estate owned | 173 | 629 | 633 | 1,209 |
Income from bank owned life insurance | 129 | 134 | 384 | 401 |
Gain on sale of premises and equipment | 107 | 526 | 107 | 1,204 |
Net gains (losses) on the sale of AFS investment securities | 238 | -1 | 330 | 69 |
Other income | 229 | 45 | 336 | 165 |
Total Non-interest Income | 1,204 | 1,937 | 2,792 | 4,306 |
Non-interest Expense | ' | ' | ' | ' |
Employee salaries and benefits | 2,704 | 2,547 | 7,505 | 7,998 |
Loss contingency | ' | ' | ' | 1,650 |
Occupancy and equipment | 614 | 566 | 1,865 | 1,682 |
Professional and legal fees | 570 | 569 | 1,562 | 2,037 |
OREO expenses and impairment | 154 | 844 | 892 | 1,741 |
Pennsylvania shares tax | 138 | 283 | 406 | 840 |
FDIC and state assessments | 261 | 253 | 770 | 781 |
Communications and data processing | 166 | 166 | 485 | 439 |
Directors' fees | 129 | 138 | 360 | 356 |
Marketing and advertising | 86 | 64 | 325 | 175 |
Insurance | 89 | 144 | 289 | 317 |
Loan collection expenses | 70 | 130 | 227 | 408 |
Impairment of loans held for sale | ' | ' | ' | 153 |
Restructuring charges | ' | 119 | ' | 230 |
Other operating expenses | 394 | 467 | 1,042 | 1,190 |
Total Non-interest Expense | 5,375 | 6,290 | 15,728 | 19,997 |
ncome (Loss) Before Tax Expense (Benefit) | 1,448 | 499 | 4,510 | -707 |
Net Income (Loss) | 1,448 | 499 | 4,510 | -707 |
Less Net Income (Loss) Attributable to Noncontrolling Interest | 25 | 157 | 212 | -364 |
Net Income (Loss) Attributable to Royal Bancshares of Pennsylvania, Inc. | 1,423 | 342 | 4,298 | -343 |
Less Preferred Stock Series A Accumulated Dividend and Accretion | 152 | 520 | 1,644 | 1,553 |
Net Income (Loss) Available to Common Shareholders | $1,271 | ($178) | $2,654 | ($1,896) |
Per Common Share Data | ' | ' | ' | ' |
Net Income (Loss) - Basic and Diluted (in dollars per share) | $0.05 | ($0.01) | $0.15 | ($0.14) |
Statements_of_Consolidated_Com
Statements of Consolidated Comprehensive Income - (unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Statements of Consolidated Comprehensive Income - (unaudited) [Abstract] | ' | ' | ' | ' | ||||
Net income (loss) | $1,448 | $499 | $4,510 | ($707) | ||||
Unrealized gains (losses) on investment securities: | ' | ' | ' | ' | ||||
Unrealized holding gains (losses) arising during period, net of tax effect | -80 | -1,687 | 4,469 | -5,705 | ||||
Less reclassification adjustment for gains realized in net income (loss) (1) | 157 | [1] | ' | 218 | [1] | 46 | [1] | |
Unrealized gains (losses) on investment securities | -237 | -1,687 | 4,251 | -5,751 | ||||
Unrecognized benefit obligation expense: | ' | ' | ' | ' | ||||
Less reclassification adjustment for amortization (2), net of tax effect | -18 | [2] | -94 | [2] | -56 | [2] | -283 | [2] |
Other comprehensive income (loss) | -219 | -1,593 | 4,307 | -5,468 | ||||
Comprehensive income (loss) | 1,229 | -1,094 | 8,817 | -6,175 | ||||
Less net income (loss) attributable to noncontrolling interest | 25 | 157 | 212 | -364 | ||||
Comprehensive income (loss) attributable to Royal Bancshares of Pennsylvania, Inc. | $1,204 | ($1,251) | $8,605 | ($5,811) | ||||
[1] | Amounts are included in net gains on the sale of AFS investment securities on the Consolidated Statements of Operations in total non-interest income, net of taxes. | |||||||
[2] | Amounts are included in salaries and benefits on the Consolidated Statements of Operations in non-interest expense. |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Shareholders' Equity (unaudited) (USD $) | Preferred Stock Series A [Member] | Additional Paid In Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Noncontrolling Interest [Member] | Common Class A [Member] | Common Class B [Member] | Total |
Balance at Dec. 31, 2012 | $29,396,000 | $126,287,000 | ($117,080,000) | ($142,000) | ($6,971,000) | $3,860,000 | $22,863,000 | $202,000 | $58,415,000 |
Balance (in shares) at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | 11,432 | 2,020 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | -343,000 | ' | ' | -364,000 | ' | ' | -707,000 |
Other comprehensive income, net of reclassifications and taxes | ' | ' | ' | -5,468,000 | ' | ' | ' | ' | -5,468,000 |
Distributions to non controlling interests | ' | ' | ' | ' | ' | -182,000 | ' | ' | -182,000 |
Accretion of discount on preferred stock | 412,000 | ' | -412,000 | ' | ' | ' | ' | ' | ' |
Treasury shares issued for compensation | ' | -377,000 | ' | ' | 421,000 | ' | ' | ' | 44,000 |
Stock option expense | ' | 20,000 | ' | ' | ' | ' | ' | ' | 20,000 |
Balance at Sep. 30, 2013 | 29,808,000 | 125,930,000 | -117,835,000 | -5,610,000 | -6,550,000 | 3,314,000 | 22,863,000 | 202,000 | 52,122,000 |
Balance (in shares) at Sep. 30, 2013 | ' | ' | ' | ' | ' | ' | 11,432 | 2,020 | ' |
Balance at Dec. 31, 2013 | 29,950,000 | 127,299,000 | -120,396,000 | -6,122,000 | -6,336,000 | 271,000 | 22,940,000 | 199,000 | 47,805,000 |
Balance (in shares) at Dec. 31, 2013 | ' | ' | ' | ' | ' | ' | 11,470 | 1,987 | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | 4,298,000 | ' | ' | 212,000 | ' | ' | 4,510,000 |
Other comprehensive income, net of reclassifications and taxes | ' | ' | ' | 4,307,000 | ' | ' | ' | ' | 4,307,000 |
Distributions to non controlling interests | ' | ' | ' | ' | ' | -208,000 | ' | ' | -208,000 |
Common stock conversion from Class B to Class A | ' | ' | -121,000 | ' | ' | ' | 127,000 | -6,000 | ' |
Common stock conversion from Class B to Class A (in shares) | ' | ' | ' | ' | ' | ' | 64 | -55 | ' |
Redemption of 11,551 shares of preferred stock | ' | -2,392,000 | ' | ' | ' | ' | ' | ' | -13,943,000 |
Redemption of preferred stock (in shares) | -11,551,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Accretion of discount on preferred stock | 457,000 | ' | -457,000 | ' | ' | ' | ' | ' | ' |
Common shares issued | ' | -13,333,000 | ' | ' | ' | ' | 33,333,000 | ' | 20,000,000 |
Common stock issued (in shares) | ' | ' | ' | ' | ' | ' | 16,666 | ' | ' |
Treasury shares issued for compensation | ' | -463,000 | ' | ' | 541,000 | ' | ' | ' | 78,000 |
Other adjustment to additional paid in capital | ' | -28,000 | ' | ' | ' | ' | ' | ' | -28,000 |
Stock option expense | ' | 12,000 | ' | ' | ' | ' | ' | ' | 12,000 |
Balance at Sep. 30, 2014 | 18,856,000 | 111,095,000 | -116,676,000 | -1,815,000 | -5,795,000 | 275,000 | 56,400,000 | 193,000 | 62,533,000 |
Balance (in shares) at Sep. 30, 2014 | ' | ' | ' | ' | ' | ' | 28,200 | 1,932 | ' |
Balance at Jun. 30, 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 1,448,000 |
Other comprehensive income, net of reclassifications and taxes | ' | ' | ' | ' | ' | ' | ' | ' | -219,000 |
Common stock issued (in shares) | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' |
Balance at Sep. 30, 2014 | ' | ' | ' | ' | ' | ' | $56,400,000 | ' | $62,533,000 |
Balance (in shares) at Sep. 30, 2014 | ' | ' | ' | ' | ' | ' | 28,200 | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract] | ' | ' |
Net income (loss) | $4,298 | ($343) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 348 | 311 |
Stock compensation expense | 12 | 20 |
Credit for loan and lease losses | -765 | -196 |
Impairment charge for OREO | 399 | 953 |
Net amortization of investment securities | 1,495 | 3,492 |
Net accretion on loans | -303 | -263 |
Net gains on sales of premises and equipment | -107 | -1,204 |
Net gains on sales of OREO | -633 | -1,209 |
Proceeds from sales of loans and leases | 3,838 | 4,042 |
Gains on sales of loans and leases | -223 | -257 |
Net gains on sales of investment securities | -330 | -69 |
Income from bank owned life insurance | -384 | -401 |
Share-based compensation | 105 | 75 |
Impairment of loans held for sale | ' | 153 |
Changes in assets and liabilities: | ' | ' |
Decrease in accrued interest receivable | 1,500 | 2,387 |
Decrease (increase) in other assets | -121 | -540 |
Increase (decrease) in accrued interest payable | 1,340 | -1,289 |
Decrease in other liabilities | -1,334 | -498 |
Net cash provided by operating activities | 9,135 | 5,164 |
Cash flows from investing activities: | ' | ' |
Proceeds from maturities, calls and paydowns of AFS investment securities | 33,272 | 77,237 |
Proceeds from sales of AFS investment securities | 55,290 | 20,428 |
Purchase of AFS investment securities | -40,150 | -52,131 |
Redemption of Federal Home Loan Bank stock | 526 | 1,647 |
Net decrease (increase) in loans | -37,001 | -41,043 |
Additions to foreclosed real estate | -1,292 | ' |
Proceeds from the sales of premises and equipment | 303 | 1,651 |
Purchase of premises and equipment | -872 | -296 |
Proceeds from sales of foreclosed real estate | 3,548 | 6,213 |
Net cash provided by investing activities | 13,624 | 13,706 |
Cash flows from financing activities: | ' | ' |
Increase in demand and NOW accounts | 3,854 | 1,384 |
Decrease in money market and savings accounts | -952 | -17,726 |
Decrease in certificates of deposit | -16,080 | -15,955 |
Repayments of short-term borrowings | -10,000 | ' |
Repayments of long-term borrowings | -341 | -50,339 |
Proceeds from short-term borrowings | ' | 14,000 |
Proceeds from long-term borrowings | ' | 40,000 |
Payments to noncontrolling interest | -208 | -182 |
Issuance of common stock, net | 20,000 | ' |
Payments for Repurchase of Redeemable Preferred Stock | -13,943 | ' |
Net cash used in financing activities | -17,670 | -28,818 |
Net increase (decrease) in cash and cash equivalents | 5,089 | -9,948 |
Cash and cash equivalents at the beginning of the period | 16,844 | 28,802 |
Cash and cash equivalents at the end of the period | 21,933 | 18,854 |
Supplemental Disclosure | ' | ' |
Interest paid | 3,530 | 6,802 |
Transfers to OREO | 1,998 | 6,428 |
Transfer to LHFS | $3,187 | $2,283 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Note 1.Summary of Significant Accounting Policies | |
Basis of Financial Presentation | |
The accompanying unaudited consolidated financial statements include the accounts of Royal Bancshares of Pennsylvania, Inc. (“Royal Bancshares” or the “Company”) and its wholly-owned subsidiaries, Royal Investments of Delaware, Inc., including Royal Investments of Delaware, Inc.’s wholly owned subsidiary, Royal Preferred, LLC, and Royal Bank America (“Royal Bank”), including Royal Bank’s subsidiaries, Royal Real Estate of Pennsylvania, Inc., Royal Investments America, LLC, RBA Property LLC, Narberth Property Acquisition LLC, Rio Marina LLC, and Royal Tax Lien Services, LLC (“RTL”). Royal Bank also has an 80% and 60% ownership interest in Crusader Servicing Corporation (“CSC”) and Royal Bank America Leasing, LP, respectively. At September 30, 2013, Royal Bank’s ownership interest in CSC and RTL was 60%. Effective December 31, 2013, Royal Bank acquired the ownership interest of the former President of CSC and RTL. The two Delaware trusts, Royal Bancshares Capital Trust I and Royal Bancshares Capital Trust II are not consolidated per requirements under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810, “Consolidation” (“ASC Topic 810”). These consolidated financial statements reflect the historical information of the Company. All significant intercompany transactions and balances have been eliminated. | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. Applications of the principles in the Company’s preparation of the consolidated financial statements in conformity with U.S. GAAP require management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. These estimates and assumptions are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from those estimates. The interim financial information included herein is unaudited; however, such information reflects all adjustments (consisting solely of normal recurring adjustments) that are, in the opinion of management, necessary to present a fair statement of the results for the interim periods. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2013. The results of operations for the three and nine month periods ended September 30, 2014 are not necessarily indicative of the results to be expected for the full year. | |
Reclassifications | |
Certain items in the 2013 consolidated financial statements and accompanying notes have been reclassified to conform to the current year’s presentation format. There was no effect on net income or net loss for the periods presented herein as a result of the reclassification. | |
Accounting Policies Recently Adopted and Pending Accounting Pronouncements | |
In January 2014, FASB issued ASU No. 2014-04, Receivables (Topic 310): Troubled Debt Restructurings by Creditors (Subtopic 310-40) Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (“ASU 2014-04”). ASC Topic 310 includes guidance that states that a creditor should reclassify a collateralized mortgage loan such that the loan should be derecognized and the collateral asset recognized when it determines that there has been in substance a repossession or foreclosure by the creditor, that is, the creditor receives physical possession of the debtor’s assets regardless of whether formal foreclosure proceedings take place. However, the terms in substance a repossession or foreclosure and physical possession are not defined in the accounting literature and there is diversity about when a creditor should derecognize the loan receivable and recognize the real estate property. That diversity has been highlighted by recent extended foreclosure timelines and processes related to residential real estate properties. | |
The objectives in ASU 2014-04 are intended to reduce diversity in practice by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate property recognized. Holding foreclosed real estate property presents different operational and economic risk to creditors compared with holding an impaired loan. Therefore, consistency in the timing of loan derecognition and presentation of foreclosed real estate properties is of qualitative significance to users of the creditor’s financial statements. Additionally, the disclosure of the amount of foreclosed residential real estate properties and of the recorded investment in consumer mortgage loans secured by residential real estate properties that are in the process of foreclosure is expected to provide decision-useful information to many users of the creditor’s financial statements. The amendments in ASU 2014-04 are effective for public companies for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in ASU 2014-04 using either a modified retrospective transition method or a prospective transition method. Early adoption is permitted. The adoption of ASU 2014-04 is not expected to have a significant impact on the Company’s consolidated financial statements. | |
In April 2014, FASB issued ASU No. 2014-08 Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). The amendments in ASU 2014-08 change the criteria for reporting discontinued operations for all public and nonpublic entities. Currently, a component of an entity that is a reportable segment, an operating segment, a reporting unit, a subsidiary, or an asset group is eligible for discontinued operations presentation. Once the amendments of ASU 2014-08 take effect, only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity’s operations and financial results will be reported as discontinued operations in the financial statements. The amendments also require new disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. The amendments in ASU 2014-08 are effective for public companies for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The adoption of ASU 2014-08 is not expected to have a significant impact on the Company’s consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-12, Compensation – Stock Compensation (Topic 718) - Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (“ASU 2014-12”). The amendments in ASU 2014-12 require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718, Compensation – Stock Compensation, as it relates to awards with performance conditions that affect vesting to account for such awards. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. The amendments in ASU 2014-12 are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in this ASU either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The adoption of ASU 2014-12 is not expected to have a significant impact on the Company’s consolidated financial statements. | |
In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (“ASU 2014-11”), which changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. The new guidance aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements. Going forward, these transactions would all be accounted for as secured borrowings. It also requires additional disclosures about repurchase agreements and other similar transactions. The amendments in ASU 2014-11 and disclosure for certain transactions accounted for as a sale are effective for the first interim or annual period beginning after December 15, 2014. The disclosure for transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. Earlier application is prohibited. The adoption of ASU 2014-11 is not expected to have a material impact on the Company’s financial condition and results of operations. | |
Regulatory_Matters_and_Signifi
Regulatory Matters and Significant Risks or Uncertainties | 9 Months Ended |
Sep. 30, 2014 | |
Regulatory Matters and Significant Risks or Uncertainties [Abstract] | ' |
Regulatory Matters and Significant Risks or Uncertainties | ' |
Note 2.Regulatory Matters and Significant Risks or Uncertainties | |
FDIC and Department of Banking Memorandum of Understanding | |
During the fourth quarter of 2011, Royal Bank entered into an informal agreement, known as a memorandum of understanding (“MOU”) with each of the Federal Deposit Insurance Corporation (“FDIC”) and the Pennsylvania Department of Banking and Securities (the “Department”). Included in the MOU is the requirement of maintaining a ratio of Tier 1 capital to total assets (“leverage ratio”) equal to or greater than 8% and a total risk-based capital ratio equal to or greater than 12%. At September 30, 2014, based on capital levels calculated under regulatory principles (“RAP”), Royal Bank’s leverage and total risk-based capital ratios were 9.96% and 15.99%, respectively. Please refer to “Note 11 — Regulatory Capital Requirements” to the Consolidated Financial Statements. Under the MOU, Royal Bank must receive prior approval from the FDIC and the Department before declaring and paying a dividend to the Company. | |
Federal Reserve Agreement | |
As previously disclosed, in March 2010, the Company agreed to enter into a written agreement (the “Federal Reserve Agreement”) with the Federal Reserve Bank of Philadelphia (the “Federal Reserve Bank”). In July 2013, the Board of Governors of the Federal Reserve System terminated the enforcement action under the Federal Reserve Agreement, and it was replaced with an informal non-public agreement, an MOU, with the Federal Reserve Bank, effective July 17, 2013. Included in this MOU are certain continued reporting requirements and a requirement that the Company receive the prior approval of the Federal Reserve Bank and the Director of Banking Supervision and Regulation of the Board of Governors of the Federal Reserve System prior to declaring or paying any dividends on the Company’s capital stock, making interest payments related to the Company’s outstanding trust preferred securities or subordinate securities, incurring or guaranteeing certain debt with an original maturity date greater than one year, and purchasing or redeeming any shares of stock. Please refer to “Dividend and Interest Restrictions” below for a discussion on the partial redemption of the Series A Preferred Stock. The MOU will remain in effect until stayed, modified, terminated or suspended in writing by the Federal Reserve Bank. | |
Our success as a Company is dependent upon pursuing various alternatives in not only achieving the growth and expansion of our banking franchise but also in managing our day to day operations. The existence of the two MOUs may limit or impact our ability to pursue all previously available alternatives in the management of the Company. Our ability to retain existing retail and commercial customers as well as the ability to attract potentially new customers may be impacted by the existence of the MOUs. Additionally, the Company’s ability to raise capital in the current economic environment could be potentially limited or impacted as a result of the MOUs. Attracting new management talent is critical to the success of our business and could be potentially affected due to the existence of the MOUs. | |
Net Income (Loss) | |
The Company had recorded significant losses over the five years prior to 2013 which were primarily related to charge-offs on the loan and lease portfolio, other-than-temporary impairment (“OTTI”) charges on investment securities, impairment charges on OREO, credit related expenses and the establishment of a deferred tax valuation allowance. In addition to reducing the total shareholders’ equity, the accumulated deficit impacts the Company’s ability to pay cash dividends to its shareholders now and in future years. For the third quarter of 2014, the Company recorded net income of $1.4 million compared to $342,000 for the comparable period in 2013. The quarter over quarter improvement was mainly related to growth in net interest income of $498,000 and declines in credit related expenses of $750,000. Credit related expenses include loan collection expenses, OREO expenses, OREO impairment, and impairment on loans held for sale. For the first nine months of 2014, the Company recorded net income of $4.3 million compared to a net loss of $343,000 for the comparable period in 2013. The noteworthy improvement was mainly related to a $1.9 million increase in net interest income, a $493,000 decrease in salaries and benefits, a $475,000 reduction in professional and legal fees, a $1.2 million decrease in credit related expenses, and a $569,000 improvement in the credit for loans and lease losses. Additionally, the first nine months of 2013 included a $1.65 million loss contingency accrual for a settlement of the class action lawsuit related to Royal Bank’s tax lien subsidiaries. After adjusting for the noncontrolling interest, the Company’s 60% share of the loss contingency amounted to $990,000 on a pre-tax basis. Partially offsetting these positive items was a $1.1 million decline in gains on the sale of premises and equipment and a $576,000 decrease in net gains on the sale of OREO. | |
Credit Quality | |
The financial services and real estate industries were hit particularly hard during the “Great Recession” and as a result the Company’s loan and investment portfolios were directly affected. The Company’s commercial real estate loans, including construction and land development loans, saw a decline in the collateral values and a reduction in the borrowers’ ability to meet the payment terms of their loans due to reduced cash flow. Further declines in collateral values and borrowers’ liquidity may lead to additional increases in foreclosures and delinquencies. The Company is less able than a larger institution to spread the risks of unfavorable local economic conditions across a large number of more diverse economies. | |
Royal Bank was successful in reducing net classified assets, which includes special mention, substandard and impaired loans and OREO, from $61.4 million at December 31, 2013 to $37.7 million at September 30, 2014. Royal Bank’s delinquent loans held for investment (30 to 90 days) amounted to $445,000 at September 30, 2014 versus $2.6 million at December 31, 2013. Material advances on any classified or delinquent loan must be approved by the Board of Directors and determined to be in Royal Bank’s best interest. The Company recorded $271,000 and $1.7 million, in charge-offs for the three and nine months ended September 30, 2014, respectively, compared to $837,000 and $3.2 million in charge-offs and write-downs for the comparable periods of 2013, respectively. | |
Liquidity and Funds Management | |
As of September 30, 2014, Royal Bank had $180.0 million of available borrowing capacity at the FHLB. Royal Bank also has availability to borrow from the Federal Reserve Discount Window, which was approximately $5.7 million at September 30, 2014, based on collateral pledged. Borrowings were $97.5 million and $107.9 million at September 30, 2014 and December 31, 2013, respectively. During the first quarter of 2014, Royal Bank secured an additional $10.0 million line of credit, of which $0 is outstanding at September 30, 2014, with a local financial institution. | |
At September 30, 2014, the liquidity to deposits ratio was 67.9% compared to Royal Bank’s 12% policy target and the liquidity to total liabilities ratio was 53.5% compared to Royal Bank’s 10% policy target. The Company also has unfunded pension plan obligations, which potentially could impact liquidity, of $14.3 million as of September 30, 2014 compared to $14.5 million at December 31, 2013. The Company plans to fund the pension plan obligations through existing Company owned life insurance policies. | |
Dividend and Interest Restrictions | |
Due to the MOU, our ability to obtain lines of credit, to receive attractive collateral treatment from funding sources, and to pursue all attractive funding alternatives in this current low interest rate environment could be impacted and thereby limit liquidity alternatives. On August 13, 2009, the Company’s Board suspended the regular quarterly cash dividends on the 30,407 shares of Series A Preferred Stock. The Company made the decision to suspend the preferred cash dividends in order to support the liquidity position of Royal Bank. | |
The Company received approval from the Federal Reserve Bank to bid up to $14.0 million, which was raised in a private placement, to purchase shares of the Series A Preferred Stock in an auction of such shares to be conducted by the United States Department of Treasury (“Treasury”). On June 20, 2014, Treasury announced that it had priced auctions of preferred stock of six institutions, including all of the 30,407 shares of the Series A Preferred Stock, issued by the Company to the Treasury in 2009. The Series A Preferred Stock was priced in the auction at $1,207.11 per share for all 30,407 shares of Series A Preferred Stock outstanding. As previously disclosed, the Company was a bidder in the auction and was allocated 11,551 shares of Series A Preferred Stock for repurchase at the clearing price of $1,207.11. Closing for the sale of the Series A Preferred Stock by Treasury, including the repurchase of 11,551 shares of Series A Preferred Stock by the Company, occurred on July 2, 2014. The dividend in arrears on the remaining 18,856 shares of Series A preferred stock is approximately $6.1 million. In the event the Company declared the preferred dividend in arrears the Company’s equity and capital ratios would be negatively affected; however, they would remain above the required minimum ratios. | |
Royal Bank must receive prior approval from the FDIC and the Department before declaring and paying a dividend to the Company. Under the Federal Reserve Agreement the Company may not declare or pay any dividends on the Company’s capital stock or make interest payments related to the Company’s outstanding trust preferred securities or subordinate securities without the prior written approval of the Reserve Bank and the Director of the Division of Banking Supervision and Regulation of the Board of Governors of the Federal Reserve System. During the third quarter of 2014, the Company received approval from the Federal Reserve Bank and paid the third quarter interest payment on the trust preferred securities in September 2014. | |
Capital Adequacy | |
In connection with a prior bank regulatory examination, the FDIC concluded, based upon its interpretation of the Call Report instructions and under RAP, that income from Royal Bank’s tax lien business should be recognized on a cash basis, not an accrual basis. Royal Bank’s current accrual method is in accordance with U.S. GAAP. Royal Bank disagrees with the FDIC’s conclusion and filed the Call Report for September 30, 2014 and the previous 16 quarters in accordance with U.S. GAAP. However, the change in the manner of revenue recognition for the tax lien business for regulatory accounting purposes affects Royal Bank’s and potentially the Company’s capital ratios as disclosed in “Note 11 - Regulatory Capital Requirements” to the Consolidated Financial Statements. The resolution of this matter will be decided by additional joint regulatory agency guidance which includes the Federal Reserve Bank, the FDIC, and the OCC. | |
Under the MOU, Royal Bank must maintain a minimum Tier 1 leverage ratio and a minimum total risk-based capital ratio of 8% and 12%, respectively. At September 30, 2014, based on capital levels calculated under RAP, Royal Bank’s leverage and total risk-based capital ratios were 9.96% and 15.99%, respectively. | |
Company Plans and Strategy | |
During the past few years, the Company recorded significant impairment charges and carrying costs on non-accrual loans and OREO which have weighed heavily on earnings and were the largest contributing factors to the Company’s losses. The Company’s strategic plan included improving the overall level of credit quality, maintaining reduced credit risk within the investment portfolio, reducing the overall level of expenses, returning to profitability, and meeting the capital level requirements for Royal Bank as set forth in the FDIC and Department MOU. | |
While sustaining capital ratios above the required minimum, the Company has made progress in improving credit quality, reducing the CRE concentration, strengthening the Board and maintaining liquidity. As a result of the decline in level of classified assets, there have been credits rather than provisions to loan and lease losses and a reduction in the overall carrying costs associated with classified assets. The deleveraging of the balance sheet reduced earning assets, which resulted in a decline in net interest income and had a significant impact on overall earnings. To improve net interest margin and net interest income, management is diligently working on changing the mix of earning assets and interest-bearing liabilities. | |
During 2013, the strategic plan evolved into transitioning Royal Bank into a community bank built on a solid commercial revenue and retail delivery foundation. During the first quarter of 2013, to support the strategic goals, management announced a set of sweeping initiatives through the Company’s “Profitability Improvement Plan” (“PIP”) designed to enhance company-wide efficiency, productivity and modernization. During 2013, the Company realized a 22% reduction in the workforce, which included reorganizing and relocating certain personnel to improve departmental synergies and better align managers and staff so they can work together in cohesive teams to accomplish their objectives. Additionally, pursuant to the real estate rationalization plan under PIP, two branches were consolidated and four Company-owned buildings were sold. | |
During 2014, the Company reorganized the retail division to better serve existing customers, develop the retail sales teams, and promote attainment of new customer relationships. The Company continued a successful 50th anniversary campaign by offering a Kindle to new customers who met certain deposit account opening criteria. During the first nine months of 2014, the Villanova, Phoenixville and Fairmount branches were relocated to more convenient, high-traffic locations within the same markets. In October 2014, the Sicklerville, New Jersey branch was relocated to Blackwood, New Jersey. Additionally, the Company opened a limited service office in Princeton, New Jersey to better serve our commercial customers in central New Jersey. In July, we introduced Royal Bank’s exciting fresh logo and an enhanced website. The redesigned products and contemporary technology are the future platform for enhanced banking convenience for commercial, consumer and retail customers. | |
Investment_Securities
Investment Securities | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Investment Securities [Abstract] | ' | |||||||||||||||||||
Investment Securities | ' | |||||||||||||||||||
Note 3.Investment Securities | ||||||||||||||||||||
The carrying value and fair value of investment securities available-for-sale (“AFS”) at September 30, 2014 and December 31, 2013 are as follows: | ||||||||||||||||||||
As of September 30, 2014 | Included in AOCL* | |||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | unrealized | unrealized | ||||||||||||||||||
(In thousands) | cost | gains | losses | Fair value | ||||||||||||||||
U.S. government agencies | $ | 34,092 | $ | — | $ | -1,551 | $ | 32,541 | ||||||||||||
Mortgage-backed securities-residential | 27,000 | 377 | -250 | 27,127 | ||||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||
Issued or guaranteed by U.S. government agencies | 171,696 | 2,521 | -1,533 | 172,684 | ||||||||||||||||
Non-agency | 3,965 | 7 | -34 | 3,938 | ||||||||||||||||
Corporate bonds | 15,630 | 68 | -65 | 15,633 | ||||||||||||||||
Municipal bonds | 9,030 | 51 | -54 | 9,027 | ||||||||||||||||
Other securities | 2,829 | 1,597 | -36 | 4,390 | ||||||||||||||||
Common stocks | 33 | 17 | — | 50 | ||||||||||||||||
Total available for sale | $ | 264,275 | $ | 4,638 | $ | -3,523 | $ | 265,390 | ||||||||||||
As of December 31, 2013 | Included in AOCL* | |||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | unrealized | unrealized | ||||||||||||||||||
(In thousands) | cost | gains | losses | Fair value | ||||||||||||||||
U.S. government agencies | $ | 68,207 | $ | — | $ | -6,171 | $ | 62,036 | ||||||||||||
Mortgage-backed securities-residential | 32,769 | 210 | -882 | 32,097 | ||||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||
Issued or guaranteed by U.S. government agencies | 188,194 | 2,887 | -1,978 | 189,103 | ||||||||||||||||
Non-agency | 4,454 | 25 | — | 4,479 | ||||||||||||||||
Corporate bonds | 9,669 | 25 | -256 | 9,438 | ||||||||||||||||
Municipal bonds | 7,163 | — | -263 | 6,900 | ||||||||||||||||
Other securities | 3,363 | 1,405 | -143 | 4,625 | ||||||||||||||||
Common stocks | 33 | 16 | — | 49 | ||||||||||||||||
Total available for sale | $ | 313,852 | $ | 4,568 | $ | -9,693 | $ | 308,727 | ||||||||||||
*Accumulated other comprehensive loss | ||||||||||||||||||||
The amortized cost and fair value of investment securities at September 30, 2014, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||
As of September 30, 2014 | ||||||||||||||||||||
Amortized | ||||||||||||||||||||
(In thousands) | cost | Fair value | ||||||||||||||||||
Within 1 year | $ | 2,003 | $ | 1,987 | ||||||||||||||||
After 1 but within 5 years | 10,345 | 10,324 | ||||||||||||||||||
After 5 but within 10 years | 29,322 | 28,653 | ||||||||||||||||||
After 10 years | 17,082 | 16,237 | ||||||||||||||||||
Mortgage-backed securities-residential | 27,000 | 27,127 | ||||||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||
Issued or guaranteed by U.S. government agencies | 171,696 | 172,684 | ||||||||||||||||||
Non-agency | 3,965 | 3,938 | ||||||||||||||||||
Total available for sale debt securities | 261,413 | 260,950 | ||||||||||||||||||
No contractual maturity | 2,862 | 4,440 | ||||||||||||||||||
Total available for sale securities | $ | 264,275 | $ | 265,390 | ||||||||||||||||
Proceeds from the sales of AFS investments during the three months ended September 30, 2014 and 2013 were $19.3 and $0 million, respectively. Proceeds from the sales of AFS investments during the nine months ended September 30, 2014 and 2013 were $55.3 and $20.4 million, respectively. The following table summarizes gross realized gains and losses on the sale of securities recognized in earnings in the periods indicated: | ||||||||||||||||||||
For the three months | For the nine months ended | |||||||||||||||||||
ended September 30, | ended September 30, | |||||||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Gross realized gains | $ | 446 | $ | — | $ | 1,143 | $ | 181 | ||||||||||||
Gross realized losses | -208 | -1 | -813 | -112 | ||||||||||||||||
Net realized gains (losses) | $ | 238 | $ | -1 | $ | 330 | $ | 69 | ||||||||||||
The Company evaluates securities for OTTI at least on a quarterly basis. The Company assesses whether OTTI is present when the fair value of a security is less than its amortized cost. All investment securities are evaluated for OTTI under FASB ASC Topic 320, “Investments-Debt & Equity Securities” (“ASC Topic 320”). Non-agency collateralized mortgage obligations may be evaluated under FASB ASC Topic 325 Subtopic 40, “Beneficial Interests in Securitized Financial Assets”. In determining whether OTTI exists, management considers numerous factors, including but not limited to: (1) the length of time and the extent to which the fair value is less than the amortized cost, (2) the Company’s intent to hold or sell the security, (3) the financial condition and results of the issuer including changes in capital, (4) the credit rating of the issuer, (5) analysts’ earnings estimate, (6) industry trends specific to the security, and (7) timing of debt maturity and status of debt payments. | ||||||||||||||||||||
Under ASC Topic 320, OTTI is considered to have occurred with respect to debt securities (1) if an entity intends to sell the security; (2) if it is more likely than not an entity will be required to sell the security before recovery of its amortized cost basis; or (3) the present value of the expected cash flows is not sufficient to recover the entire amortized cost basis. If an entity intends to sell the security or will be required to sell the security, the OTTI is recognized in earnings equal to the entire difference between the fair value and the amortized cost basis at the balance sheet date. If an entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before the recovery of its amortized cost basis, the OTTI is separated into two amounts, the credit-related loss and the noncredit-related loss. The credit-related loss is based on the present value of the expected cash flows and is recognized in earnings. The noncredit-related loss is based on other factors such as illiquidity and is recognized in other comprehensive income (loss). The Company did not record OTTI charges to earnings during the first three quarters of 2014 and 2013. | ||||||||||||||||||||
There was no credit-related impairment losses on debt securities held at September 30, 2014 for which a portion of OTTI was recognized in other comprehensive income. The following table presents a roll-forward of the balance of credit-related impairment losses on debt securities held at September 30, 2013 for which a portion of OTTI was recognized in other comprehensive income (loss). | ||||||||||||||||||||
(In thousands) | 2013 | |||||||||||||||||||
Balance at January 1, | $ | 173 | ||||||||||||||||||
Reductions for securities sold during the period (realized) | -173 | |||||||||||||||||||
Reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the Company intends to sell the security | — | |||||||||||||||||||
Balance at September 30, | $ | — | ||||||||||||||||||
The tables below indicate the length of time individual AFS securities have been in a continuous unrealized loss position at September 30, 2014 and December 31, 2013: | ||||||||||||||||||||
30-Sep-14 | Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||
unrealized | unrealized | unrealized | ||||||||||||||||||
(In thousands) | Fair value | losses | Fair value | losses | Fair value | losses | ||||||||||||||
U.S. government agencies | $ | — | $ | — | $ | 32,541 | $ | -1,551 | $ | 32,541 | $ | -1,551 | ||||||||
Mortgage-backed securities-residential | 7,619 | -38 | 9,017 | -212 | 16,636 | -250 | ||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||
Issued or guaranteed by U.S. government agencies | 49,360 | -376 | 37,312 | -1,157 | 86,672 | -1,533 | ||||||||||||||
Non-agency | 1,464 | -34 | — | — | 1,464 | -34 | ||||||||||||||
Corporate bonds | 9,027 | -56 | 991 | -9 | 10,018 | -65 | ||||||||||||||
Municipal bonds | 623 | -15 | 3,539 | -39 | 4,162 | -54 | ||||||||||||||
Other securities | — | — | 268 | -36 | 268 | -36 | ||||||||||||||
Total available-for-sale | $ | 68,093 | $ | -519 | $ | 83,668 | $ | -3,004 | $ | 151,761 | $ | -3,523 | ||||||||
31-Dec-13 | Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||
unrealized | unrealized | unrealized | ||||||||||||||||||
(In thousands) | Fair value | losses | Fair value | losses | Fair value | losses | ||||||||||||||
U.S. government agencies | $ | 48,919 | $ | -5,035 | $ | 12,267 | $ | -1,136 | $ | 61,186 | $ | -6,171 | ||||||||
Mortgage-backed securities-residential | 18,045 | -518 | 6,276 | -364 | 24,321 | -882 | ||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||
Issued or guaranteed by U.S. government agencies | 67,240 | -1,446 | 9,974 | -532 | 77,214 | -1,978 | ||||||||||||||
Corporate bonds | 4,848 | -221 | 965 | -35 | 5,813 | -256 | ||||||||||||||
Municipal bonds | 3,019 | -102 | 3,881 | -161 | 6,900 | -263 | ||||||||||||||
Other securities | — | — | 301 | -143 | 301 | -143 | ||||||||||||||
Total available-for-sale | $ | 142,071 | $ | -7,322 | $ | 33,664 | $ | -2,371 | $ | 175,735 | $ | -9,693 | ||||||||
In determining the Company’s intent not to sell and whether it is more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, management considers the following factors: current liquidity and availability of other non-pledged assets that permits the investment to be held for an extended period of time but not necessarily until maturity, capital planning, and any specific asset liability committee goals or guidelines related to the disposition of specific investments. The Company did not record OTTI charges in the first three quarters of 2014 or 2013. | ||||||||||||||||||||
Common stocks: As of September 30, 2014, the Company had two common stocks of financial institutions with a total fair value of $50,000 and an unrealized gain of $17,000. | ||||||||||||||||||||
For all debt security types discussed below the fair value is based on prices provided by brokers and safekeeping custodians. | ||||||||||||||||||||
U.S. government-sponsored agencies (“U.S. Agency”): As of September 30, 2014, the Company had 10 U.S. Agency securities with a fair value of $32.5 million and gross unrealized losses of $1.6 million. All 10 bonds had been in an unrealized loss position for twelve months or longer at September 30, 2014. Management believes that the unrealized losses on these debt securities are a function of changes in investment spreads. Management expects to recover the entire amortized cost basis of these securities. The Company does not intend to sell these securities before recovery of their cost basis and has not determined that it is not more likely than not that it will be required to sell these securities before recovery of their cost basis. Therefore, management has determined that these securities are not other-than-temporarily impaired at September 30, 2014. | ||||||||||||||||||||
Mortgage-backed securities issued by U.S. government agencies and U.S. government sponsored enterprises: As of September 30, 2014, the Company had six mortgage-backed securities with a fair value of $16.6 million and gross unrealized losses of $250,000. Three of the mortgage-backed securities had been in an unrealized loss position of twelve months or longer and three of the mortgage-backed securities had been in an unrealized loss position for less than twelve months. The unrealized loss is attributable to a combination of factors, including relative changes in interest rates since the time of purchase. The contractual cash flows for these securities are guaranteed by U.S. government agencies and U.S. government-sponsored enterprises. Based on its assessment of these factors, management believes that the unrealized losses on these debt securities are a function of changes in investment spreads and interest rate movements and not as a result of changes in credit quality. Management expects to recover the entire amortized cost basis of these securities. The Company does not intend to sell these securities before recovery of their cost basis and has not determined that it is not more likely than not that it will be required to sell these securities before recovery of their cost basis. Therefore, management has determined that these securities are not other-than-temporarily impaired at September 30, 2014. | ||||||||||||||||||||
U.S. government issued or sponsored collateralized mortgage obligations (“Agency CMOs”): As of September 30, 2014, the Company had 28 Agency CMOs with a fair value of $86.7 million and gross unrealized losses of $1.5 million. Eleven of the Agency CMOs had been in an unrealized loss position for twelve months or longer and the remaining 17 Agency CMOs have been in an unrealized loss position for less than twelve months. The unrealized loss is attributable to a combination of factors, including relative changes in interest rates since the time of purchase. The contractual cash flows for these securities are guaranteed by U.S. government agencies and U.S. government-sponsored enterprises. Based on its assessment of these factors, management believes that the unrealized losses on these debt securities are a function of changes in investment spreads and interest rate movements and not as a result of changes in credit quality. Management expects to recover the entire amortized cost basis of these securities. The Company does not intend to sell these securities before recovery of their cost basis and has not determined that it is not more likely than not that it will be required to sell these securities before recovery of their cost basis. Therefore, management has determined that these securities are not other-than-temporarily impaired at September 30, 2014. | ||||||||||||||||||||
Non-agency collateralized mortgage obligations (“Non-agency CMOs”): As of September 30, 2014, the Company had one non-agency CMO with a fair value of $1.5 million and a gross unrealized loss of $34,000. The bond had been in an unrealized loss position for less than twelve months. The Company does not intend to sell this security before recovery of its cost basis, and it is not more likely than not that the Company be required to sell this security before recovery of its cost basis. Therefore, management has determined that this security is not other-than-temporarily impaired at September 30, 2014. | ||||||||||||||||||||
Corporate bonds: As of September 30, 2014, the Company had seven corporate bonds with a fair value of $10.0 million and gross unrealized losses of $65,000. One of the corporate bonds had been in an unrealized loss position for twelve months or longer and six bonds had been in an unrealized loss position for less than twelve months. These bonds are investment grade. The Company’s unrealized losses in investments in these corporate bonds represent interest rate risk and not credit risk of the underlying issuers. As previously mentioned management also considered (1) the length of time and the extent to which the fair value is less than the amortized cost, (2) the Company’s intent to hold or sell the security, (3) the financial condition and results of the issuer including changes in capital, (4) the credit rating of the issuer, (5) analysts’ earnings estimates, (6) industry trends specific to the security, and (7) timing of debt maturity and status of debt payments. Based on the analysis, there was no credit-related loss on the bonds. Because the Company does not intend to sell the corporate bonds and it is not more likely than not that the Company will be required to sell the bonds before recovery of their amortized cost basis, which may be maturity, the Company does not consider any of the seven bonds to be other-than-temporarily impaired at September 30, 2014. | ||||||||||||||||||||
Municipal bonds: As of September 30, 2014, the Company had five municipal bonds with a fair value $4.2 million and gross unrealized losses of $54,000. One of the municipal bonds had been in an unrealized loss position for less than twelve months and four municipal bonds had been in an unrealized loss position for twelve months or longer. Because the Company does not intend to sell the bonds and it is not more likely than not that the Company will be required to sell the bond before recovery of its amortized cost basis, which may be maturity, the Company does not consider the bonds to be other-than-temporarily impaired at September 30, 2014. | ||||||||||||||||||||
Other securities: As of September 30, 2014, the Company had six investments in private equity funds which were predominantly invested in real estate. In determining whether or not OTTI exists, the Company reviews the funds’ financials, asset values, and near-term projections. At September 30, 2014, one of the private equity fund investments had a fair value of $268,000 and an unrealized loss of $36,000. OTTI charges were recorded in a prior period on this fund. Management concluded that there was no additional impairment on this investment as of September 30, 2014. | ||||||||||||||||||||
The Company will continue to monitor these investments to determine if the discounted cash flow analysis, continued negative trends, market valuations or credit defaults result in impairment that is other than temporary. | ||||||||||||||||||||
Loans_and_Leases
Loans and Leases | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Loans and Leases [Abstract] | ' | ||||||||||||||||||||||||
Loans and Leases | ' | ||||||||||||||||||||||||
Note 4.Loans and Leases | |||||||||||||||||||||||||
Major classifications of LHFI are as follows: | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
(In thousands) | 2014 | 2013 | |||||||||||||||||||||||
Commercial real estate | $ | 164,522 | $ | 148,293 | |||||||||||||||||||||
Construction and land development | 41,676 | 45,261 | |||||||||||||||||||||||
Commercial and industrial | 70,743 | 79,589 | |||||||||||||||||||||||
Multi-family | 16,893 | 11,737 | |||||||||||||||||||||||
Residential real estate | 44,261 | 25,535 | |||||||||||||||||||||||
Leases | 48,588 | 42,524 | |||||||||||||||||||||||
Tax certificates | 8,230 | 12,716 | |||||||||||||||||||||||
Consumer | 2,263 | 826 | |||||||||||||||||||||||
Total LHFI, net of unearned income | $ | 397,176 | $ | 366,481 | |||||||||||||||||||||
The Company originates commercial and real estate loans, including construction and land development loans primarily in the greater Philadelphia metropolitan area as well as selected locations throughout the mid-Atlantic region. The Company also has participated with other financial institutions in selected construction and land development loans outside our geographic area. The Company has a concentration of credit risk in commercial real estate, construction and land development loans at September 30, 2014. The Company originates mainly small business, owner-occupied commercial real estate, middle market business and consumer loans. Additionally, after thorough due diligence, the Company has purchased small residential loan pools. A substantial portion of its debtors’ ability to honor their contracts is dependent upon the housing sector specifically and the economy in general. | |||||||||||||||||||||||||
Loans and leases are classified as LHFI when management has the intent and ability to hold the loan or lease for the foreseeable future or until maturity or payoff. LHFI are stated at their outstanding unpaid principal balances, net of an allowance for loan and leases losses and any deferred fees or costs. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) of the related loans. The Company is generally amortizing these amounts over the contractual life of the loan. | |||||||||||||||||||||||||
At September 30, 2014 and December 31, 2013, the Company’s LHFS were $1.0 million and $1.4 million, respectively. LHFS at September 30, 2014 were comprised of one non-accrual loan. The three loans that constituted the balance at December 31, 2013 were sold during the first quarter of 2014. During 2014, the Company transferred $3.2 million to LHFS from LHFI at fair value using expected net sales proceeds. For the nine months ended September 30, 2014, the Company received net proceeds of $3.8 million and recorded net gains of $223,000 as a result of loan sales. | |||||||||||||||||||||||||
The Company classifies its leases as finance leases, in accordance with FASB ASC Topic 840, “Leases”. The difference between the Company’s gross investment in the lease and the cost or carrying amount of the leased property, if different, is recorded as unearned income, which is amortized to income over the lease term by the interest method. | |||||||||||||||||||||||||
The Company uses a nine point grading risk classification system commonly used in the financial services industry as the credit quality indicator. The first four classifications are rated Pass. The riskier classifications include Pass-Watch, Special Mention, Substandard, Doubtful and Loss. The risk rating is related to the underlying credit quality and probability of default. These risk ratings are used in the calculation of the allowance for loan and lease losses. | |||||||||||||||||||||||||
· | Pass: includes credits that demonstrate a low probability of default; | ||||||||||||||||||||||||
· | Pass-watch: a warning classification which includes credits that are beginning to demonstrate above average risk through declining earnings, strained cash flows, increased leverage and/or weakening market fundamentals; | ||||||||||||||||||||||||
· | Special mention: includes credits that have potential weaknesses that if left uncorrected could weaken the credit or result in inadequate protection of the Company’s position at some future date. While potentially weak, credits in this classification are marginally acceptable and loss of principal or interest is not anticipated; | ||||||||||||||||||||||||
· | Substandard accrual: includes credits that exhibit a well-defined weakness which currently jeopardizes the repayment of debt and liquidation of collateral even though they are currently performing. These credits are characterized by the distinct possibility that the Company may incur a loss in the future if these weaknesses are not corrected; | ||||||||||||||||||||||||
· | Non-accrual (substandard non-accrual, doubtful, loss): includes credits that demonstrate serious problems to the point that it is probable that interest and principal will not be collected according to the contractual terms of the loan agreement. | ||||||||||||||||||||||||
All loans, at the time of presentation to the appropriate loan committee, are given an initial loan risk rating by the Chief Credit Officer (“CCO”). From time to time, and at the general direction of any of the various loan committees, the ratings may be changed based on the findings of that committee. Items considered in assigning ratings include the financial strength of the borrower and/or guarantors, the type of collateral, the collateral lien position, the type of loan and loan structure, any potential risk inherent in the specific loan type, higher than normal monitoring of the loan or any other factor deemed appropriate by any of the various committees for changing the rating of the loan. Any such change in rating is reflected in the minutes of that committee. | |||||||||||||||||||||||||
The following tables present risk ratings for each loan portfolio classification at September 30, 2014 and December 31, 2013, excluding LHFS. | |||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||
(In thousands) | Pass | Pass-Watch | Special Mention | Substandard | Non-accrual | Total | |||||||||||||||||||
Commercial real estate | $ | 128,983 | $ | 25,167 | $ | 5,062 | $ | 1,578 | $ | 3,732 | $ | 164,522 | |||||||||||||
Construction and land development | 12,685 | 25,051 | 3,125 | — | 815 | 41,676 | |||||||||||||||||||
Commercial & industrial | 56,385 | 7,688 | 750 | 3,337 | 2,583 | 70,743 | |||||||||||||||||||
Multi-family | 16,050 | 321 | 522 | — | — | 16,893 | |||||||||||||||||||
Residential real estate | 43,278 | — | — | — | 983 | 44,261 | |||||||||||||||||||
Leases | 47,863 | 197 | 3 | — | 525 | 48,588 | |||||||||||||||||||
Tax certificates | 7,102 | — | — | — | 1,128 | 8,230 | |||||||||||||||||||
Consumer | 2,207 | 56 | — | — | — | 2,263 | |||||||||||||||||||
Total LHFI, net of unearned income | $ | 314,553 | $ | 58,480 | $ | 9,462 | $ | 4,915 | $ | 9,766 | $ | 397,176 | |||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
(In thousands) | Pass | Pass-Watch | Special Mention | Substandard | Non-accrual | Total | |||||||||||||||||||
Commercial real estate | $ | 99,525 | $ | 32,267 | $ | 11,572 | $ | 2,604 | $ | 2,325 | $ | 148,293 | |||||||||||||
Construction and land development | 14,677 | 16,270 | 11,095 | 569 | 2,650 | 45,261 | |||||||||||||||||||
Commercial & industrial | 50,478 | 10,508 | 5,735 | 9,239 | 3,629 | 79,589 | |||||||||||||||||||
Multi-family | 10,792 | 410 | 535 | — | — | 11,737 | |||||||||||||||||||
Residential real estate | 24,903 | — | — | — | 632 | 25,535 | |||||||||||||||||||
Leases | 41,325 | 485 | 247 | — | 467 | 42,524 | |||||||||||||||||||
Tax certificates | 12,262 | — | — | — | 454 | 12,716 | |||||||||||||||||||
Consumer | 750 | 76 | — | — | — | 826 | |||||||||||||||||||
Total LHFI, net of unearned income | $ | 254,712 | $ | 60,016 | $ | 29,184 | $ | 12,412 | $ | 10,157 | $ | 366,481 | |||||||||||||
The following tables present an aging analysis of past due payments for each loan portfolio classification at September 30, 2014 and December 31, 2013, excluding LHFS. | |||||||||||||||||||||||||
As of September 30, 2014 | 30-59 Days | 60-89 Days | Accruing | ||||||||||||||||||||||
(In thousands) | Past Due | Past Due | 90+ Days | Non-accrual | Current | Total | |||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | — | $ | 3,732 | $ | 160,790 | $ | 164,522 | |||||||||||||
Construction and land development | — | — | — | 815 | 40,861 | 41,676 | |||||||||||||||||||
Commercial & industrial | 41 | 40 | — | 2,583 | 68,079 | 70,743 | |||||||||||||||||||
Multi-family | — | — | — | — | 16,893 | 16,893 | |||||||||||||||||||
Residential real estate | 47 | 116 | — | 983 | 43,115 | 44,261 | |||||||||||||||||||
Leases | 198 | 3 | — | 525 | 47,862 | 48,588 | |||||||||||||||||||
Tax certificates | — | — | — | 1,128 | 7,102 | 8,230 | |||||||||||||||||||
Consumer | — | — | — | — | 2,263 | 2,263 | |||||||||||||||||||
Total LHFI, net of unearned income | $ | 286 | $ | 159 | $ | — | $ | 9,766 | $ | 386,965 | $ | 397,176 | |||||||||||||
As of December 31, 2013 | 30-59 Days | 60-89 Days | Accruing | ||||||||||||||||||||||
(In thousands) | Past Due | Past Due | 90+ Days | Non-accrual | Current | Total | |||||||||||||||||||
Commercial real estate | $ | 996 | $ | — | $ | — | $ | 2,325 | $ | 144,972 | $ | 148,293 | |||||||||||||
Construction and land development | — | — | — | 2,650 | 42,611 | 45,261 | |||||||||||||||||||
Commercial & industrial | 115 | 49 | — | 3,629 | 75,796 | 79,589 | |||||||||||||||||||
Multi-family | — | — | — | — | 11,737 | 11,737 | |||||||||||||||||||
Residential real estate | 458 | 262 | — | 632 | 24,183 | 25,535 | |||||||||||||||||||
Leases | 485 | 247 | — | 467 | 41,325 | 42,524 | |||||||||||||||||||
Tax certificates | — | — | — | 454 | 12,262 | 12,716 | |||||||||||||||||||
Consumer | — | — | — | — | 826 | 826 | |||||||||||||||||||
Total LHFI, net of unearned income | $ | 2,054 | $ | 558 | $ | — | $ | 10,157 | $ | 353,712 | $ | 366,481 | |||||||||||||
The following tables detail the composition of the non-accrual loans at September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
Loan | Specific | Loan | Specific | ||||||||||||||||||||||
(In thousands) | balance | reserves | balance | reserves | |||||||||||||||||||||
Non-accrual loans held for investment | |||||||||||||||||||||||||
Commercial real estate | $ | 3,732 | $ | 205 | $ | 2,325 | $ | 331 | |||||||||||||||||
Construction and land development | 815 | 172 | 2,650 | — | |||||||||||||||||||||
Commercial & industrial | 2,583 | 5 | 3,629 | 452 | |||||||||||||||||||||
Residential real estate | 983 | 30 | 632 | 19 | |||||||||||||||||||||
Leases | 525 | 62 | 467 | 60 | |||||||||||||||||||||
Tax certificates | 1,128 | 19 | 454 | 24 | |||||||||||||||||||||
Total non-accrual LHFI | $ | 9,766 | $ | 493 | $ | 10,157 | $ | 886 | |||||||||||||||||
Non-accrual loans held for sale | |||||||||||||||||||||||||
Construction and land development | $ | 1,018 | $ | — | $ | — | $ | — | |||||||||||||||||
Total non-accrual LHFS | $ | 1,018 | $ | — | $ | — | $ | — | |||||||||||||||||
Total non-accrual loans | $ | 10,784 | $ | 493 | $ | 10,157 | $ | 886 | |||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||
The Company identifies a loan as impaired when it is probable that interest and principal will not be collected according to the contractual terms of the loan agreement. For all classes of loans receivable, with the exception of tax certificates, the accrual of interest is discontinued on a loan when management believes that the borrower’s financial condition is such that collection of principal and interest is doubtful or when a loan becomes 90 days past due. Impaired loans include troubled debt restructurings (“TDRs”). Excess proceeds received over the principal amounts due on impaired non-accrual loans are recognized as income on a cash basis. The Company recognizes income under the accrual basis when the principal payments on the loans become current and the collateral on the loan is sufficient to cover the outstanding obligation to the Company. If these factors do not exist, the Company does not recognize income. | |||||||||||||||||||||||||
Total cash collected on non-accrual and impaired loans during the nine months ended September 30, 2014 and 2013 was $5.0 million and $10.6 million respectively, of which $4.5 million and $9.9 million was credited to the principal balance outstanding on such loans, respectively. | |||||||||||||||||||||||||
The following is a summary of information pertaining to impaired loans: | |||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
(In thousands) | 2014 | 2013 | |||||||||||||||||||||||
Impaired LHFI with a valuation allowance | $ | 4,232 | $ | 3,835 | |||||||||||||||||||||
Impaired LHFI without a valuation allowance | 11,909 | 14,671 | |||||||||||||||||||||||
Impaired LHFS | 1,018 | — | |||||||||||||||||||||||
Total impaired loans and leases | $ | 17,159 | $ | 18,506 | |||||||||||||||||||||
Valuation allowance related to impaired LHFI | $ | 493 | $ | 886 | |||||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||
A loan modification is deemed a TDR when two conditions are met: 1) the borrower is experiencing financial difficulty and 2) concessions are made by the Company that would not otherwise be considered for a borrower or collateral with similar credit risk characteristics. All loans classified as TDRs are considered to be impaired. TDRs are returned to an accrual status when the loan is brought current, has performed in accordance with the contractual restructured terms for a reasonable period of time (generally six months) and the ultimate collectibility of the total contractual restructured principal and interest is no longer in doubt. At September 30, 2014, the Company had twelve TDRs, with a total carrying value of $9.4 million. At the time of the modifications, three of the loans were already classified as impaired non-accrual loans. At December 31, 2013, the Company had twelve TDRs with a total carrying value of $12.1 million. The Company’s policy for TDRs is to recognize income on currently performing restructured loans under the accrual method. | |||||||||||||||||||||||||
The following table details the Company’s TDRs that are on an accrual status and non-accrual status at September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||
Non- | |||||||||||||||||||||||||
Number of | Accrual | Accrual | |||||||||||||||||||||||
(In thousands) | loans | Status | Status | Total TDRs | |||||||||||||||||||||
Commercial real estate | 2 | $ | 2,883 | $ | — | $ | 2,883 | ||||||||||||||||||
Construction and land development | 3 | 378 | 815 | 1,193 | |||||||||||||||||||||
Commercial & industrial | 6 | 3,672 | 1,497 | 5,169 | |||||||||||||||||||||
Residential real estate | 1 | — | 105 | 105 | |||||||||||||||||||||
Total | 12 | $ | 6,933 | $ | 2,417 | $ | 9,350 | ||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
Non- | |||||||||||||||||||||||||
Number of | Accrual | Accrual | |||||||||||||||||||||||
(In thousands) | loans | Status | Status | Total TDRs | |||||||||||||||||||||
Commercial real estate | 3 | $ | 3,847 | $ | — | $ | 3,847 | ||||||||||||||||||
Construction and land development | 4 | 1,257 | 479 | 1,736 | |||||||||||||||||||||
Commercial & industrial | 3 | 4,420 | 1,960 | 6,380 | |||||||||||||||||||||
Residential real estate | 2 | — | 121 | 121 | |||||||||||||||||||||
Total | 12 | $ | 9,524 | $ | 2,560 | $ | 12,084 | ||||||||||||||||||
At September 30, 2014, all of the TDRs were in compliance with their restructured terms. | |||||||||||||||||||||||||
The following tables present newly restructured loans that occurred during the nine months ended September 30, 2014. The Company did not classify any loan modifications as TDRs during the third quarter of 2013. | |||||||||||||||||||||||||
Modifications by type for the three months ended September 30, 2014 | |||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||
Number of | Combination | Recorded | Recorded | ||||||||||||||||||||||
(Dollars in thousands) | loans | Rate | Term | Payment | of types | Total | Investment | Investment | |||||||||||||||||
Commercial & industrial | 1 | $ | — | $ | 188 | $ | — | $ | — | $ | 188 | $ | 189 | $ | 189 | ||||||||||
Total | 1 | $ | — | $ | 188 | $ | — | $ | — | $ | 188 | $ | 189 | $ | 189 | ||||||||||
Modifications by type for the nine months ended September 30, 2014 | |||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||
Number of | Combination | Recorded | Recorded | ||||||||||||||||||||||
(Dollars in thousands) | loans | Rate | Term | Payment | of types | Total | Investment | Investment | |||||||||||||||||
Commercial & industrial | 3 | $ | — | $ | 233 | $ | — | $ | 28 | $ | 261 | $ | 262 | $ | 262 | ||||||||||
Total | 3 | $ | — | $ | 233 | $ | — | $ | 28 | $ | 261 | $ | 262 | $ | 262 | ||||||||||
Modifications by type for the nine months ended September 30, 2013 | |||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||
Number of | Combination | Recorded | Recorded | ||||||||||||||||||||||
(Dollars in thousands) | loans | Rate | Term | Payment | of types | Total | Investment | Investment | |||||||||||||||||
Commercial real estate | 2 | $ | — | $ | — | $ | — | $ | 3,705 | $ | 3,705 | $ | 3,761 | $ | 3,761 | ||||||||||
Commercial & industrial | 1 | — | — | — | 82 | 82 | 87 | 87 | |||||||||||||||||
Total | 3 | $ | — | $ | — | $ | — | $ | 3,787 | $ | 3,787 | $ | 3,848 | $ | 3,848 | ||||||||||
Allowance_for_Loan_and_Lease_L
Allowance for Loan and Lease Losses | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses [Abstract] | ' | |||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses | ' | |||||||||||||||||||||||||||||||
Note 5.Allowance for Loan and Lease Losses | ||||||||||||||||||||||||||||||||
The following tables present the detail of the allowance and the loan portfolio disaggregated by loan portfolio classification as of September 30, 2014, December 31, 2013 and September 30, 2013. | ||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||||||||||
For the three months ended September 30, 2014 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
Beginning balance | $ | 4,971 | $ | 2,033 | $ | 1,525 | $ | 416 | $ | 690 | $ | 1,352 | $ | 408 | $ | 24 | $ | 150 | $ | 11,569 | ||||||||||||
Charge-offs | — | — | — | — | — | -206 | -65 | — | — | -271 | ||||||||||||||||||||||
Recoveries | — | 205 | 12 | — | 5 | 13 | — | — | — | 235 | ||||||||||||||||||||||
(Credit) provision | -266 | 3 | -106 | -63 | 25 | 325 | 29 | 9 | -7 | -51 | ||||||||||||||||||||||
Ending balance | $ | 4,705 | $ | 2,241 | $ | 1,431 | $ | 353 | $ | 720 | $ | 1,484 | $ | 372 | $ | 33 | $ | 143 | $ | 11,482 | ||||||||||||
Ending balance: related to loans individually evaluated for impairment | $ | 205 | $ | 172 | $ | 5 | $ | — | $ | 30 | $ | 62 | $ | 19 | $ | — | $ | — | $ | 493 | ||||||||||||
Ending balance: related to loans collectively evaluated for impairment | $ | 4,500 | $ | 2,069 | $ | 1,426 | $ | 353 | $ | 690 | $ | 1,422 | $ | 353 | $ | 33 | $ | 143 | $ | 10,989 | ||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||||||||||
For the nine months ended September 30, 2014 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
Beginning balance | $ | 5,498 | $ | 2,316 | $ | 3,006 | $ | 402 | $ | 473 | $ | 1,223 | $ | 555 | $ | 15 | $ | 183 | $ | 13,671 | ||||||||||||
Charge-offs | -349 | — | -452 | — | — | -568 | -330 | — | — | -1,699 | ||||||||||||||||||||||
Recoveries | — | 205 | 23 | — | 11 | 35 | 1 | — | — | 275 | ||||||||||||||||||||||
(Credit) provision | -444 | -280 | -1,146 | -49 | 236 | 794 | 146 | 18 | -40 | -765 | ||||||||||||||||||||||
Ending balance | $ | 4,705 | $ | 2,241 | $ | 1,431 | $ | 353 | $ | 720 | $ | 1,484 | $ | 372 | $ | 33 | $ | 143 | $ | 11,482 | ||||||||||||
Ending balance: related to loans individually evaluated for impairment | $ | 205 | $ | 172 | $ | 5 | $ | — | $ | 30 | $ | 62 | $ | 19 | $ | — | $ | — | $ | 493 | ||||||||||||
Ending balance: related to loans collectively evaluated for impairment | $ | 4,500 | $ | 2,069 | $ | 1,426 | $ | 353 | $ | 690 | $ | 1,422 | $ | 353 | $ | 33 | $ | 143 | $ | 10,989 | ||||||||||||
Loans Held for Investment and Evaluated for Impairment | ||||||||||||||||||||||||||||||||
For the three and nine months ended September 30, 2014 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
LHFI | ||||||||||||||||||||||||||||||||
Ending balance | $ | 164,522 | $ | 41,676 | $ | 70,743 | $ | 16,893 | $ | 44,261 | $ | 48,588 | $ | 8,230 | $ | 2,263 | $ | — | $ | 397,176 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 6,877 | $ | 1,192 | $ | 5,897 | $ | — | $ | 983 | $ | 64 | $ | 1,128 | $ | — | $ | — | $ | 16,141 | ||||||||||||
Ending balance: collectively evaluated for impairment | $ | 157,645 | $ | 40,484 | $ | 64,846 | $ | 16,893 | $ | 43,278 | $ | 48,524 | $ | 7,102 | $ | 2,263 | $ | — | $ | 381,035 | ||||||||||||
Allowance for Loan and Lease Losses and Loans Held for Investment | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
Beginning balance | $ | 8,750 | $ | 2,987 | $ | 1,924 | $ | 654 | $ | 1,098 | $ | 1,108 | $ | 472 | $ | 29 | $ | 239 | $ | 17,261 | ||||||||||||
Charge-offs | -1,684 | -820 | -383 | — | -46 | -382 | -578 | — | — | -3,893 | ||||||||||||||||||||||
Recoveries | 600 | 297 | 17 | — | 158 | 29 | 74 | — | — | 1,175 | ||||||||||||||||||||||
(Credit) provision | -2,168 | -148 | 1,448 | -252 | -737 | 468 | 587 | -14 | -56 | -872 | ||||||||||||||||||||||
Ending balance | $ | 5,498 | $ | 2,316 | $ | 3,006 | $ | 402 | $ | 473 | $ | 1,223 | $ | 555 | $ | 15 | $ | 183 | $ | 13,671 | ||||||||||||
Ending balance: related to loans individually evaluated for impairment | $ | 331 | $ | — | $ | 452 | $ | — | $ | 19 | $ | 60 | $ | 24 | $ | — | $ | — | $ | 886 | ||||||||||||
Ending balance: related to loans collectively evaluated for impairment | $ | 5,167 | $ | 2,316 | $ | 2,554 | $ | 402 | $ | 454 | $ | 1,163 | $ | 531 | $ | 15 | $ | 183 | $ | 12,785 | ||||||||||||
LHFI | ||||||||||||||||||||||||||||||||
Ending balance | $ | 148,293 | $ | 45,261 | $ | 79,589 | $ | 11,737 | $ | 25,535 | $ | 42,524 | $ | 12,716 | $ | 826 | $ | — | $ | 366,481 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 5,325 | $ | 3,907 | $ | 8,049 | $ | — | $ | 632 | $ | 139 | $ | 454 | $ | — | $ | — | $ | 18,506 | ||||||||||||
Ending balance: collectively evaluated for impairment | $ | 142,968 | $ | 41,354 | $ | 71,540 | $ | 11,737 | $ | 24,903 | $ | 42,385 | $ | 12,262 | $ | 826 | $ | — | $ | 347,975 | ||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||||||||||
For the three months ended September 30, 2013 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
Beginning balance | $ | 7,952 | $ | 2,017 | $ | 2,465 | $ | 588 | $ | 353 | $ | 999 | $ | 586 | $ | 18 | $ | 201 | $ | 15,179 | ||||||||||||
Charge-offs | -605 | — | -34 | — | -32 | -40 | -126 | — | — | -837 | ||||||||||||||||||||||
Recoveries | 1 | 106 | 4 | — | 2 | 4 | 2 | — | — | 119 | ||||||||||||||||||||||
Provision (credit) | -1,159 | 72 | 1,080 | -114 | 175 | 133 | 41 | -3 | -7 | 218 | ||||||||||||||||||||||
Ending balance | $ | 6,189 | $ | 2,195 | $ | 3,515 | $ | 474 | $ | 498 | $ | 1,096 | $ | 503 | $ | 15 | $ | 194 | $ | 14,679 | ||||||||||||
Ending balance: related to loans individually evaluated for impairment | $ | 230 | $ | — | $ | 209 | $ | — | $ | 16 | $ | 138 | $ | 67 | $ | — | $ | — | $ | 660 | ||||||||||||
Ending balance: related to loans collectively evaluated for impairment | $ | 5,959 | $ | 2,195 | $ | 3,306 | $ | 474 | $ | 482 | $ | 958 | $ | 436 | $ | 15 | $ | 194 | $ | 14,019 | ||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||||||||||
For the nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
Beginning balance | $ | 8,750 | $ | 2,987 | $ | 1,924 | $ | 654 | $ | 1,098 | $ | 1,108 | $ | 472 | $ | 29 | $ | 239 | $ | 17,261 | ||||||||||||
Charge-offs | -1,440 | -820 | -228 | — | -32 | -149 | -410 | — | — | -3,079 | ||||||||||||||||||||||
Recoveries | 127 | 297 | 14 | — | 157 | 24 | 74 | — | — | 693 | ||||||||||||||||||||||
Provision (credit) | -1,248 | -269 | 1,805 | -180 | -725 | 113 | 367 | -14 | -45 | -196 | ||||||||||||||||||||||
Ending balance | $ | 6,189 | $ | 2,195 | $ | 3,515 | $ | 474 | $ | 498 | $ | 1,096 | $ | 503 | $ | 15 | $ | 194 | $ | 14,679 | ||||||||||||
Ending balance: related to loans individually evaluated for impairment | $ | 230 | $ | — | $ | 209 | $ | — | $ | 16 | $ | 138 | $ | 67 | $ | — | $ | — | $ | 660 | ||||||||||||
Ending balance: related to loans collectively evaluated for impairment | $ | 5,959 | $ | 2,195 | $ | 3,306 | $ | 474 | $ | 482 | $ | 958 | $ | 436 | $ | 15 | $ | 194 | $ | 14,019 | ||||||||||||
Loans Held for Investment and Evaluated for Impairment | ||||||||||||||||||||||||||||||||
For the three and nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
LHFI | ||||||||||||||||||||||||||||||||
Ending balance | $ | 158,223 | $ | 39,594 | $ | 86,401 | $ | 11,678 | $ | 24,830 | $ | 40,408 | $ | 15,364 | $ | 831 | $ | — | $ | 377,329 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 10,045 | $ | 4,019 | $ | 8,112 | $ | — | $ | 520 | $ | 190 | $ | 532 | $ | — | $ | — | $ | 23,418 | ||||||||||||
Ending balance: collectively evaluated for impairment | $ | 148,178 | $ | 35,575 | $ | 78,289 | $ | 11,678 | $ | 24,310 | $ | 40,218 | $ | 14,832 | $ | 831 | $ | — | $ | 353,911 | ||||||||||||
The following tables detail the LHFI that were evaluated for impairment by loan classification at September 30, 2014 and December 31, 2013. | ||||||||||||||||||||||||||||||||
At September 30, 2014 | ||||||||||||||||||||||||||||||||
Unpaid | ||||||||||||||||||||||||||||||||
principal | Recorded | Related | ||||||||||||||||||||||||||||||
(In thousands) | balance | investment | allowance | |||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||
Commercial real estate | $ | 7,410 | $ | 5,986 | $ | — | ||||||||||||||||||||||||||
Construction and land development | 2,690 | 633 | — | |||||||||||||||||||||||||||||
Commercial & industrial | 8,133 | 4,400 | — | |||||||||||||||||||||||||||||
Residential real estate | — | — | — | |||||||||||||||||||||||||||||
Tax certificates | 5,376 | 890 | — | |||||||||||||||||||||||||||||
Total: | $ | 23,609 | $ | 11,909 | $ | — | ||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,137 | $ | 891 | $ | 205 | ||||||||||||||||||||||||||
Construction and land development | 559 | 559 | 172 | |||||||||||||||||||||||||||||
Commercial & industrial | 1,721 | 1,497 | 5 | |||||||||||||||||||||||||||||
Residential real estate | 1,080 | 983 | 30 | |||||||||||||||||||||||||||||
Leasing | 64 | 64 | 62 | |||||||||||||||||||||||||||||
Tax certificates | 4,244 | 238 | 19 | |||||||||||||||||||||||||||||
Total: | $ | 8,805 | $ | 4,232 | $ | 493 | ||||||||||||||||||||||||||
At and for the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | ||||||||||||||||||||||||||||||
principal | Recorded | Related | recorded | income | ||||||||||||||||||||||||||||
(In thousands) | balance | investment | allowance | investment | recognized | |||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||
Commercial real estate | $ | 4,429 | $ | 4,158 | $ | — | $ | 7,956 | $ | 73 | ||||||||||||||||||||||
Construction and land development | 9,850 | 3,907 | — | 3,933 | 209 | |||||||||||||||||||||||||||
Commercial & industrial | 6,693 | 6,491 | — | 5,960 | 250 | |||||||||||||||||||||||||||
Residential real estate | — | — | — | 84 | 27 | |||||||||||||||||||||||||||
Tax certificates | 179 | 115 | — | 167 | — | |||||||||||||||||||||||||||
Total: | $ | 21,151 | $ | 14,671 | $ | — | $ | 18,100 | $ | 559 | ||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,435 | $ | 1,435 | $ | 331 | $ | 1,879 | $ | — | ||||||||||||||||||||||
Construction and land development | — | — | — | 381 | — | |||||||||||||||||||||||||||
Commercial & industrial | 2,592 | 1,290 | 452 | 2,456 | — | |||||||||||||||||||||||||||
Residential real estate | 827 | 631 | 19 | 492 | — | |||||||||||||||||||||||||||
Leases | 139 | 139 | 60 | 106 | — | |||||||||||||||||||||||||||
Tax certificates | 4,322 | 340 | 24 | 341 | — | |||||||||||||||||||||||||||
Total: | $ | 9,315 | $ | 3,835 | $ | 886 | $ | 5,655 | $ | — | ||||||||||||||||||||||
The following tables present the average recorded investment in impaired LHFI and the related interest income recognized for the three and nine months ended September 30, 2014 and 2013. | ||||||||||||||||||||||||||||||||
For the three months ended September 30, 2014 | For the nine months ended September 30, 2014 | |||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||
recorded | income | recorded | income | |||||||||||||||||||||||||||||
(In thousands) | investment | recognized | investment | recognized | ||||||||||||||||||||||||||||
Commercial real estate | $ | 5,571 | $ | 33 | $ | 5,258 | $ | 65 | ||||||||||||||||||||||||
Construction and land development | 1,673 | 11 | 2,823 | 68 | ||||||||||||||||||||||||||||
Commercial & industrial | 6,085 | 52 | 6,658 | 159 | ||||||||||||||||||||||||||||
Residential real estate | 993 | — | 833 | — | ||||||||||||||||||||||||||||
Leasing | 75 | — | 112 | — | ||||||||||||||||||||||||||||
Tax certificates | 1,134 | 918 | ||||||||||||||||||||||||||||||
Total: | $ | 15,531 | $ | 96 | $ | 16,602 | $ | 292 | ||||||||||||||||||||||||
For the three months ended September 30, 2013 | For the nine months ended September 30, 2013 | |||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||
recorded | income | recorded | income | |||||||||||||||||||||||||||||
(In thousands) | investment | recognized | investment | recognized | ||||||||||||||||||||||||||||
Commercial real estate | $ | 11,676 | $ | 59 | $ | 4,556 | $ | 45 | ||||||||||||||||||||||||
Construction and land development | 4,047 | 18 | 10,779 | 129 | ||||||||||||||||||||||||||||
Commercial & industrial | 8,050 | 92 | 8,988 | 241 | ||||||||||||||||||||||||||||
Residential real estate | 523 | — | 580 | 27 | ||||||||||||||||||||||||||||
Leasing | 168 | — | 105 | — | ||||||||||||||||||||||||||||
Tax certificates | 433 | — | 509 | — | ||||||||||||||||||||||||||||
Total: | $ | 24,897 | $ | 169 | $ | 25,517 | $ | 442 | ||||||||||||||||||||||||
Other_Real_Estate_Owned
Other Real Estate Owned | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Other Real Estate Owned [Abstract] | ' | ||||||||||
Real Estate Owned [Text Block] | ' | ||||||||||
Note 6.Other Real Estate Owned | |||||||||||
OREO slightly decreased $24,000 and was $9.6 million at December 31, 2013d September 30, 2014. OREO is comprised of three real estate properties acquired through, or in lieu of foreclosure in settlement of loans and 73 real estate properties acquired through foreclosure related to tax liens. Set forth below are tables which detail the changes in OREO from December 31, 2013 to September 30, 2014 and December 31, 2012 to December 31, 2013. | |||||||||||
For the nine months ended September 30, 2014 | |||||||||||
(In thousands) | Loans | Tax Liens | Total | ||||||||
Beginning balance | $ | 1,725 | $ | 7,892 | $ | 9,617 | |||||
Net proceeds from sales | -1,214 | -2,334 | -3,548 | ||||||||
Net gains on sales | 22 | 611 | 633 | ||||||||
Transfers in | — | 1,998 | 1,998 | ||||||||
Cash additions | — | 1,292 | 1,292 | ||||||||
Impairment charge | -100 | -299 | -399 | ||||||||
Ending balance | $ | 433 | $ | 9,160 | $ | 9,593 | |||||
For the year ended December 31, 2013 | |||||||||||
(In thousands) | Loans | Tax Liens | Total | ||||||||
Beginning balance | $ | 11,365 | $ | 2,070 | $ | 13,435 | |||||
Net proceeds from sales | -8,869 | -3,910 | -12,779 | ||||||||
Net gain on sales | 228 | 1,199 | 1,427 | ||||||||
Transfers in | 100 | 8,951 | 9,051 | ||||||||
Cash additions | — | — | — | ||||||||
Impairment charge | -1,099 | -418 | -1,517 | ||||||||
Ending balance | $ | 1,725 | $ | 7,892 | $ | 9,617 | |||||
At September 30, 2014, OREO was comprised of $229,000 in land, $9.2 million in tax liens, and residential real estate, related to a condominium construction project in Minneapolis, Minnesota in which the Company is a participant with a fair value of $204,000. During the first nine months of 2014, the Company sold ten condominiums related to the construction project. The Company received its pro rata share of net proceeds in the amount of $193,000 and recorded a net gain of $37,000. Additionally, during the third quarter of 2014, the Company sold a parcel of land and a commercial real estate building. As a result of these sales the Company received $1.0 million in net proceeds and recorded a net loss of $15,000. During the first quarter of 2014, the Company recorded impairment charges of $75,000 on the remaining, larger condominium units and $25,000 on the commercial real estate which was sold in the third quarter. | |||||||||||
As shown in the tables above, the composition of the OREO assets has evolved to properties primarily acquired through the tax lien portfolio. During the first nine months of 2014, the Company transferred $2.0 million to OREO which represents 40 properties and added $1.3 million in lien redemptions on existing properties. During the same period the Company sold 30 tax lien properties, received proceeds of $2.3 million, and recorded net gains of $611,000 as a result of these sales. Additionally, the Company recorded impairment charges of $299,000 during the first nine months of 2014 related to the tax lien properties. At December 31, 2013, OREO assets acquired through the tax lien portfolio were $7.9 million and were comprised of 59 properties. | |||||||||||
Deposits
Deposits | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Deposits [Abstract] | ' | |||||||
Deposits | ' | |||||||
Note 7.Deposits | ||||||||
The Company’s deposit composition as of September 30, 2014 and December 31, 2013 is presented below: | ||||||||
September 30, | December 31, | |||||||
(In thousands) | 2014 | 2013 | ||||||
Demand | $ | 67,901 | $ | 60,473 | ||||
NOW | 41,801 | 45,375 | ||||||
Money Market | 162,177 | 164,678 | ||||||
Savings | 19,142 | 17,593 | ||||||
Time deposits (over $100) | 85,603 | 92,763 | ||||||
Time deposits (under $100) | 139,162 | 148,082 | ||||||
Total deposits | $ | 515,786 | $ | 528,964 | ||||
Borrowings_and_Subordinated_De
Borrowings and Subordinated Debentures | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Borrowings and Subordinated Debentures [Abstract] | ' | |||||||||||
Borrowings and Subordinated Debentures | ' | |||||||||||
Note 8.Borrowings and Subordinated Debentures | ||||||||||||
1 | Advances from the Federal Home Loan Bank | |||||||||||
As of September 30, 2014, Royal Bank had $180.0 million of available borrowing capacity at the FHLB, which is based on qualifying collateral. Total advances from the FHLB were $55.0 million at September 30, 2014 and $65.0 million at December 31, 2013. The advances and the line of credit are collateralized by FHLB stock, government agencies and mortgage-backed securities. As of September 30, 2014, investment securities with a market value of $51.5 million were pledged as collateral to the FHLB. | ||||||||||||
Presented below are the Company’s FHLB borrowings allocated by the year in which they mature with their corresponding weighted average rates: | ||||||||||||
As of | As of | |||||||||||
30-Sep-14 | 31-Dec-13 | |||||||||||
(Dollars in thousands) | Amount | Rate | Amount | Rate | ||||||||
Advances maturing in | ||||||||||||
2014 | $ | — | — | % | $ | 10,000 | 0.24 | % | ||||
2015 | 10,000 | 0.71 | % | 10,000 | 0.71 | % | ||||||
2016 | 10,000 | 1.11 | % | 10,000 | 1.11 | % | ||||||
2017 | 25,000 | 1.46 | % | 25,000 | 1.46 | % | ||||||
2018 | 10,000 | 2.01 | % | 10,000 | 2.01 | % | ||||||
Total FHLB borrowings | $ | 55,000 | $ | 65,000 | ||||||||
2 | Other borrowings | |||||||||||
The Company has a note payable with PNC Bank (“PNC”) at September 30, 2014 in the amount of $2.5 million compared to $2.9 million at December 31, 2013. The note’s maturity date is August 25, 2016. The interest rate is a variable rate equal to one month LIBOR + 15 basis points and adjusts monthly. The interest rate at September 30, 2014 was 0.31%. | ||||||||||||
At September 30, 2014 and December 31, 2013, the Company had additional borrowings of $40.0 million from PNC which will mature on January 7, 2018. These borrowings have a weighted average interest rate of 3.65%. The note payable and the borrowings are secured by government agencies and mortgage-backed securities. | ||||||||||||
3 | Subordinated debentures | |||||||||||
The Company has outstanding $25.0 million of Trust Preferred Securities issued through two Delaware trust affiliates, Royal Bancshares Capital Trust I (“Trust I”) and Royal Bancshares Capital Trust II (“Trust II”) (collectively, the “Trusts”). The Company issued an aggregate principal amount of $12.9 million of floating rate junior subordinated debt securities to Trust I and an aggregate principal amount of $12.9 million of fixed/floating rate junior subordinated debt securities to Trust II. Both debt securities bear an interest rate of 2.38% at September 30, 2014, and reset quarterly at 3-month LIBOR plus 2.15%. | ||||||||||||
Each of Trust I and Trust II issued an aggregate principal amount of $12.5 million of capital securities initially bearing fixed and/or fixed/floating interest rates corresponding to the debt securities held by each trust to an unaffiliated investment vehicle and an aggregate principal amount of $387,000 of common securities bearing fixed and/or fixed/floating interest rates corresponding to the debt securities held by each trust to the Company. The Company has fully and unconditionally guaranteed all of the obligations of the Trusts, including any distributions and payments on liquidation or redemption of the capital securities. | ||||||||||||
Under the Federal Reserve Agreement as described in “Note 2 — Regulatory Matters and Significant Risks or Uncertainties” to the Consolidated Financial Statements, the Company and its non-bank subsidiaries may not make any distributions of interest, principal, or other sums on subordinated debentures or trust preferred securities without the prior written approval of the Reserve Bank and the Director of the Division of Banking Supervision and Regulation of the Board of Governors of the Federal Reserve System. The Company received approval and paid all accumulated deferred interest in 2013 and the required interest payments through the first nine months of 2014. | ||||||||||||
Commitments_Contingencies_and_
Commitments, Contingencies, and Concentrations | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Commitments, Contingencies, and Concentrations [Abstract] | ' | |||||||
Commitments, Contingencies, and Concentrations | ' | |||||||
Note 9.Commitments, Contingencies, and Concentrations | ||||||||
The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the financial statements when they become payable. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The contract amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. | ||||||||
The Company’s exposure to credit loss in the event of non-performance by the other party to commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. | ||||||||
The contract amounts are as follows: | ||||||||
September 30, | December 31, | |||||||
(In thousands) | 2014 | 2013 | ||||||
Financial instruments whose contract amounts represent credit risk: | ||||||||
Open-end lines of credit | $ | 47,455 | $ | 21,182 | ||||
Commitments to extend credit | 6,430 | 200 | ||||||
Standby letters of credit and financial guarantees written | 847 | 2,679 | ||||||
Legal Proceedings | ||||||||
From time to time, the Company is a party to routine legal proceedings within the normal course of business. Such routine legal proceedings in the aggregate are believed by management to be immaterial to the Company’s financial condition or results of operations. | ||||||||
On or about March 15, 2012, CSC, RTL and the Company were named defendants, among others, in a complaint filed by Marina Bay Towers Urban Renewal II, LP (“MBT”) in the Superior Court of New Jersey, Law Division, Cape May County. The complaint alleges a conspiracy to rig bids in municipal tax lien auctions. MBT does not seek to represent a class and only seeks remedies related to itself. As of the date of this filing, the Company cannot reasonably estimate the possible loss or range of loss that may result from this proceeding. | ||||||||
Shareholders_Equity
Shareholders' Equity | 9 Months Ended | |||
Sep. 30, 2014 | ||||
Shareholders' Equity [Abstract] | ' | |||
Shareholders' Equity | ' | |||
Note 10.Shareholders’ Equity | ||||
1 | Preferred Stock | |||
On February 20, 2009, as part of the Capital Purchase Program (“CPP”) established by the Treasury, the Company issued to Treasury 30,407 shares of the Company’s Fixed Rate Cumulative Perpetual Preferred Stock, Series A, without par value per share (the “Series A Preferred Stock”), and a liquidation preference of $1,000 per share. In conjunction with the purchase of the Series A Preferred Stock, Treasury received a warrant to purchase 1,104,370 shares of the Company’s Class A common stock. The aggregate purchase price for the Series A Preferred Stock and warrant was $30.4 million in cash. The Series A Preferred Stock qualifies as Tier 1 capital and originally paid cumulative dividends at a rate of 5% per annum. In February 2014, the cumulative dividend rate on the Series A Preferred Stock increased to 9% per annum. The Series A Preferred Stock may generally be redeemed by the Company at any time following consultation with its primary banking regulators. The warrant issued to Treasury has a 10-year term and is immediately exercisable upon its issuance, with an exercise price, subject to anti-dilution adjustments, equal to $4.13 per share of the common stock. As a result of the shareholders’ right offering described below, the number of warrants to purchase the Company’s Class A common stock adjusted to 1,368,040 and the warrant exercise price decreased to $3.33 per share of the common stock. | ||||
The Company received approval from the Federal Reserve Bank to bid up to $14.0 million, which was raised in a private placement, to purchase shares of the Series A Preferred Stock in an auction of such shares to be conducted by the Treasury. The auction closed on June 19, 2014. The Series A Preferred Stock was priced in the auction at $1,207.11 per share for all 30,407 shares of Series A Preferred Stock outstanding. The Company was allocated 11,551 shares of Series A Preferred Stock for repurchase at the clearing price of $1,207.11. Closing for the sale of the Series A Preferred Stock by the Treasury, including the repurchase of 11,551 shares of Series A Preferred Stock by the Company occurred, on July 2, 2014. As part of this redemption, the Company eliminated nearly $3.5 million in preferred dividend in arrears. | ||||
2 | Common Stock | |||
The Company’s Class A common stock trades on the NASDAQ Global Market under the symbol RBPAA. There is no market for the Company’s Class B common stock. The Class B shares may not be transferred in any manner except to the holder’s immediate family. Class B shares may be converted to Class A shares at the rate of 1.15 to 1. Shareholders are entitled to one vote for each Class A share and ten votes for each Class B share held. Holders of either class of common stock are entitled to conversion equivalent per share dividends when declared. | ||||
To fund the purchase of the Series A Preferred Stock, described above, the Company sold 11,666,667 shares of its Class A common stock in a private placement transaction at a price of $1.20 per share. Additionally, during the third quarter of 2014, the Company conducted a shareholder rights offering to existing shareholders to limit their ownership dilution from the sale of Class A common stock to the other investors in the private placement. The Company issued approximately 5.0 million shares and received gross proceeds of approximately $6.0 million. The private placement and the shareholders rights offering combined to increase tangible common equity by nearly $17.6 million. | ||||
3 | Payment of Dividends | |||
Under the Pennsylvania Business Corporation Law, the Company may pay dividends only if it is solvent and would not be rendered insolvent by the dividend payment. There are also restrictions set forth in the Pennsylvania Banking Code of 1965 (the “Code”) and in the Federal Deposit Insurance Act (“FDIA”) affecting the payment of dividends to the Company by Royal Bank. Under the Code, no dividends may be paid by a bank except from “accumulated net earnings” (generally retained earnings). In addition, dividends paid by Royal Bank to the Company would be prohibited if the effect thereof would cause Royal Bank’s capital to be reduced below applicable minimum capital requirements. Royal Bank must receive prior approval from the FDIC and the Department before declaring and paying a dividend to the Company. | ||||
On August 13, 2009, the Company’s Board suspended the regular quarterly cash dividends on the $30.4 million in Series A Preferred Stock. The Company’s Board took this action in consultation with the Federal Reserve Bank of Philadelphia as required by regulatory policy guidance. In February 2014, the preferred cumulative dividend rate prospectively increased to 9% per annum. As a result of the Company’s repurchase of 11,551 shares of Series A Preferred Stock, approximately $3.5 million of the Series A Preferred stock dividend in arrears was eliminated. As of September 30, 2014, the Series A Preferred stock dividend in arrears was approximately $6.1 million and has not been recognized in the consolidated financial statements. In the event the Company declared the preferred dividend the Company’s capital ratios would be negatively affected; however, they would remain above the required minimum ratios. Under the Federal Reserve MOU as described in “Note 2 — Regulatory Matters and Significant Risks or Uncertainties” to the Consolidated Financial Statements, the Company may not declare or pay any dividends without the prior written approval of the Reserve Bank and the Director of the Division of Banking Supervision and Regulation of the Board of Governors of the Federal Reserve System. | ||||
Regulatory_Capital_Requirement
Regulatory Capital Requirements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | ||||||||||||||||
Regulatory Capital Requirements | ' | ||||||||||||||||
Note 11.Regulatory Capital Requirements | |||||||||||||||||
The Company and Royal Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s and Royal Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Under the informal agreement referenced in “Note 2 — Regulatory Matters and Significant Risks And Uncertainties” to the Consolidated Financial Statements, Royal Bank is required to maintain a minimum Tier 1 leverage ratio of 8% and a Total risk-based capital ratio of 12%. As of September 30, 2014, the Company and Royal Bank met all capital adequacy requirements to which it is subject and Royal Bank met the criteria for a well-capitalized institution. | |||||||||||||||||
In connection with a prior bank regulatory examination, the FDIC concluded, based upon its interpretation of the Call Report instructions and under RAP, that income from Royal Bank’s tax lien business should be recognized on a cash basis, not an accrual basis. Royal Bank’s current accrual method is in accordance with U.S. GAAP. Royal Bank disagrees with the FDIC’s conclusion and filed the Call Report for September 30, 2014 and the previous 16 quarters in accordance with U.S. GAAP. The change in the method of revenue recognition for the tax lien business for regulatory accounting purposes affects Royal Bank’s and the Company’s capital ratios as shown below. The resolution of this matter will be decided by additional joint regulatory agency guidance which includes the Federal Reserve Bank, the FDIC, and the OCC. | |||||||||||||||||
The table below sets forth Royal Bank’s capital ratios under RAP based on the FDIC’s interpretation of the Call Report instructions: | |||||||||||||||||
At September 30, 2014 | |||||||||||||||||
To be well capitalized | |||||||||||||||||
For capital | under prompt corrective | ||||||||||||||||
Actual | adequacy purposes | action provision | |||||||||||||||
(Dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||
Total capital (to risk-weighted assets) | $ | 76,403 | 15.99 | % | $ | 38,237 | 8.00 | % | $ | 47,796 | 10.00 | % | |||||
Tier I capital (to risk-weighted assets) | $ | 70,970 | 14.85 | % | $ | 19,118 | 4.00 | % | $ | 28,677 | 6.00 | % | |||||
Tier I capital (to average assets, leverage) | $ | 70,970 | 9.96 | % | $ | 28,492 | 4.00 | % | $ | 35,615 | 5.00 | % | |||||
The tables below reflect the adjustments to the net income as well as the capital ratios for Royal Bank under U.S. GAAP: | |||||||||||||||||
For the nine | |||||||||||||||||
months ended | |||||||||||||||||
(In thousands) | 30-Sep-14 | ||||||||||||||||
RAP net income | $ | 682 | |||||||||||||||
Tax lien adjustment, net of noncontrolling interest | 3,556 | ||||||||||||||||
U.S. GAAP net income | $ | 4,238 | |||||||||||||||
At September 30, 2014 | |||||||||||||||||
As reported | As adjusted | ||||||||||||||||
under RAP | for U.S. GAAP | ||||||||||||||||
Total capital (to risk-weighted assets) | 15.99 | % | 16.61 | % | |||||||||||||
Tier I capital (to risk-weighted assets) | 14.85 | % | 15.49 | % | |||||||||||||
Tier I capital (to average assets, leverage) | 9.96 | % | 10.42 | % | |||||||||||||
The tables below reflect the Company’s capital ratios: | |||||||||||||||||
At September 30, 2014 | |||||||||||||||||
To be well capitalized | |||||||||||||||||
For capital | under prompt corrective | ||||||||||||||||
Actual | adequacy purposes | action provision | |||||||||||||||
(Dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||
Total capital (to risk-weighted assets) | $ | 94,205 | 19.37 | % | $ | 38,899 | 8.00 | % | N/A | N/A | |||||||
Tier I capital (to risk-weighted assets) | $ | 85,328 | 17.55 | % | $ | 19,449 | 4.00 | % | N/A | N/A | |||||||
Tier I capital (to average assets, leverage) | $ | 85,328 | 11.78 | % | $ | 28,975 | 4.00 | % | N/A | N/A | |||||||
The Company has filed the Consolidated Financial Statements for Bank Holding Companies-FR Y-9C (“FR Y-9C”) as of September 30, 2014 consistent with U.S. GAAP and the FR Y-9C instructions. In the event that a similar adjustment for RAP purposes would be required by the Federal Reserve on the holding company level, the adjusted ratios are shown in the table below. | |||||||||||||||||
For the nine | |||||||||||||||||
months ended | |||||||||||||||||
(In thousands) | 30-Sep-14 | ||||||||||||||||
U.S. GAAP net income | $ | 4,298 | |||||||||||||||
Tax lien adjustment, net of noncontrolling interest | -3,556 | ||||||||||||||||
RAP net income | $ | 742 | |||||||||||||||
At September 30, 2014 | |||||||||||||||||
As reported | As adjusted | ||||||||||||||||
under U.S. GAAP | for RAP | ||||||||||||||||
Total capital (to risk-weighted assets) | 19.37 | % | 18.78 | % | |||||||||||||
Tier I capital (to risk-weighted assets) | 17.55 | % | 16.68 | % | |||||||||||||
Tier I capital (to average assets, leverage) | 11.78 | % | 11.17 | % | |||||||||||||
Pension_Plan
Pension Plan | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Pension Plan [Abstract] | ' | |||||||||||||
Pension Plan | ' | |||||||||||||
Note 12.Pension Plan | ||||||||||||||
The Company has a noncontributory nonqualified defined benefit pension plan (“Pension Plan”) covering certain eligible employees. The Company’s Pension Plan provides retirement benefits under pension trust agreements. The benefits are based on years of service and the employee’s compensation during the highest three consecutive years during the last 10 years of employment. | ||||||||||||||
Net periodic defined benefit pension expense for the three and nine months ended September 30, 2014 and 2013 included the following components: | ||||||||||||||
Three months ended | Nine months ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||
Service cost | $ | 15 | $ | 19 | $ | 45 | $ | 56 | ||||||
Interest cost | 155 | 133 | 466 | 399 | ||||||||||
Amortization of prior service cost | 22 | 22 | 66 | 67 | ||||||||||
Amortization of actuarial loss | 32 | 122 | 96 | 367 | ||||||||||
Net periodic benefit cost | $ | 224 | $ | 296 | $ | 673 | $ | 889 | ||||||
The Company has unfunded pension plan obligations of $14.3 million as of September 30, 2014 compared to $14.5 million at December 31, 2013. The Company plans to fund the pension plan obligations through existing Company owned life insurance policies. | ||||||||||||||
Earnings_Loss_Per_Common_Share
Earnings (Loss) Per Common Share | 9 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Income (Loss) Per Common Share [Abstract] | ' | |||||||||
Income (Loss) Per Common Share | ' | |||||||||
Note 13.Earnings (Loss) Per Common Share | ||||||||||
The Company follows the provisions of FASB ASC Topic 260, “Earnings per Share” (“ASC Topic 260”). Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common shareholders by the weighted average common shares outstanding during the period. The Company has two classes of common stock currently outstanding. The classes are A and B, of which one share of Class B is convertible into 1.15 shares of Class A. Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock using the treasury stock method. For the three and nine months ended September 30, 2014 and 2013, 168,907 options to purchase shares of common stock, respectively, were anti-dilutive in the computation of diluted EPS, as the exercise price exceeded average market price in each of those periods. For the three and nine months ended September 30, 2013, 202,408 options to purchase shares of common stock, respectively, were anti-dilutive in the computation of diluted EPS, as the exercise price exceeded average market price and as a result of the net loss for the the three and nine months ended September 30, 2013. Additionally warrants to purchase 1,368,040 shares of Class A common stock were also anti-dilutive. | ||||||||||
Basic and diluted EPS are calculated as follows: | ||||||||||
Three months ended September 30, 2014 | ||||||||||
Income | Average shares | Per share | ||||||||
(In thousands, except for per share data) | (numerator) | (denominator) | Amount | |||||||
Basic and Diluted EPS | ||||||||||
Income available to common shareholders | $ | 1,271 | 27,329 | $ | 0.05 | |||||
Three months ended September 30, 2013 | ||||||||||
Loss | Average shares | Per share | ||||||||
(In thousands, except for per share data) | (numerator) | (denominator) | Amount | |||||||
Basic and Diluted EPS | ||||||||||
Loss available to common shareholders | $ | -178 | 13,286 | $ | -0.01 | |||||
Nine months ended September 30, 2014 | ||||||||||
Income | Average shares | Per share | ||||||||
(In thousands, except for per share data) | (numerator) | (denominator) | Amount | |||||||
Basic and Diluted EPS | ||||||||||
Income available to common shareholders | $ | 2,654 | 18,042 | $ | 0.15 | |||||
Nine months ended September 30, 2013 | ||||||||||
Loss | Average shares | Per share | ||||||||
(In thousands, except for per share data) | (numerator) | (denominator) | Amount | |||||||
Basic and Diluted EPS | ||||||||||
Loss available to common shareholders | $ | -1,896 | 13,272 | $ | -0.14 | |||||
Comprehensive_Income_Loss
Comprehensive Income (Loss) | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Comprehensive Income (Loss) [Abstract] | ' | ||||||||||
Comprehensive Income (Loss) Note [Text Block] | ' | ||||||||||
Note 14.Comprehensive Income (Loss) | |||||||||||
FASB ASC Topic 220, “Comprehensive Income” (“ASC Topic 220”), requires the reporting of all changes in equity during the reporting period except investments from and distributions to shareholders. Net income (loss) is a component of comprehensive income (loss) with all other components referred to in the aggregate as other comprehensive income. Unrealized gains and losses on AFS securities is an example of another comprehensive income (loss) component. | |||||||||||
Nine months ended September 30, 2014 | |||||||||||
Tax | |||||||||||
Before tax | expense | Net of tax | |||||||||
(In thousands) | amount | (benefit) | amount | ||||||||
Unrealized gains on investment securities: | |||||||||||
Unrealized holding gains arising during period | $ | 6,570 | $ | 2,101 | $ | 4,469 | |||||
Less reclassification adjustment for gains | |||||||||||
realized in net income | 330 | 112 | 218 | ||||||||
Unrealized gains on investment securities | 6,240 | 1,989 | 4,251 | ||||||||
Unrecognized benefit obligation expense: | |||||||||||
Less reclassification adjustment for amortization | -85 | -29 | -56 | ||||||||
Other comprehensive income, net | $ | 6,325 | $ | 2,018 | $ | 4,307 | |||||
Nine months ended September 30, 2013 | |||||||||||
Tax | |||||||||||
Before tax | expense | Net of tax | |||||||||
(In thousands) | amount | (benefit) | amount | ||||||||
Unrealized losses on investment securities: | |||||||||||
Unrealized holding losses arising during period | $ | -8,833 | $ | -3,128 | $ | -5,705 | |||||
Less reclassification adjustment for gains | |||||||||||
realized in net loss | 69 | 23 | 46 | ||||||||
Unrealized losses on investment securities | -8,902 | -3,151 | -5,751 | ||||||||
Unrecognized benefit obligation expense: | |||||||||||
Less reclassification adjustment for amortization | -429 | -146 | -283 | ||||||||
Other comprehensive loss, net | $ | -8,473 | $ | -3,005 | $ | -5,468 | |||||
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
Note 15.Fair Value of Financial Instruments | |||||||||||||||||
Under FASB ASC Topic 820 “Fair Value Measurements and Disclosures” (“ASC Topic 820”), fair values are based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When available, management uses quoted market prices to determine fair value. If quoted prices are not available, fair value is based upon valuation techniques such as matrix pricing or other models that use, where possible, current market-based or independently sourced market parameters, such as interest rates. If observable market-based inputs are not available, the Company uses unobservable inputs to determine appropriate valuation adjustments using discounted cash flow methodologies. | |||||||||||||||||
Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective period end and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each period-end. | |||||||||||||||||
ASC Topic 820 provides guidance for estimating fair value when the volume and level of activity for an asset or liability has significantly declined and for identifying circumstances when a transaction is not orderly. ASC Topic 820 establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under ASC Topic 820 are as follows: | |||||||||||||||||
Level 1: | Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | ||||||||||||||||
Level 2: | Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. Level 2 includes debt securities with quoted prices that are traded less frequently then exchange-traded instruments. Valuation techniques include matrix pricing which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. | ||||||||||||||||
Level 3: | Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). | ||||||||||||||||
A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company did not have transfers of financial instruments within the fair value hierarchy during the three and nine months ended September 30, 2014 and 2013. | |||||||||||||||||
Items Measured on a Recurring Basis | |||||||||||||||||
The Company’s available for sale investment securities are recorded at fair value on a recurring basis. | |||||||||||||||||
Fair value for Level 1 securities are determined by obtaining quoted market prices on nationally recognized securities exchanges. Level 1 securities include common stocks. | |||||||||||||||||
Level 2 securities include obligations of U.S. government-sponsored agencies and debt securities with quoted prices, which are traded less frequently than exchange-traded instruments, whose value is determined using matrix pricing with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. The prices were obtained from third party vendors. This category generally includes the Company’s mortgage-backed securities and CMOs issued by U.S. government and government-sponsored agencies, non-agency CMOs, and corporate and municipal bonds. | |||||||||||||||||
Level 3 securities include investments in seven private equity funds which are predominantly invested in real estate. The value of the private equity funds are derived from the funds’ financials and K-1 filings. The Company also reviews the funds’ asset values and its near-term projections. | |||||||||||||||||
For financial assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at September 30, 2014 and December 31, 2013 are as follows: | |||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
As of September 30, 2014 | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||
Investment securities available-for-sale | |||||||||||||||||
U.S. government agencies | $ | — | $ | 32,541 | $ | — | $ | 32,541 | |||||||||
Mortgage-backed securities-residential | — | 27,127 | — | 27,127 | |||||||||||||
Collateralized mortgage obligations: | |||||||||||||||||
Issued or guaranteed by U.S. government agencies | — | 172,684 | — | 172,684 | |||||||||||||
Non-agency | — | 3,938 | — | 3,938 | |||||||||||||
Corporate bonds | — | 15,633 | — | 15,633 | |||||||||||||
Municipal bonds | — | 9,027 | — | 9,027 | |||||||||||||
Other securities | — | — | 4,390 | 4,390 | |||||||||||||
Common stocks | 50 | — | — | 50 | |||||||||||||
Total investment securities available-for-sale | $ | 50 | $ | 260,950 | $ | 4,390 | $ | 265,390 | |||||||||
Fair Value Measurements Using: | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
As of December 31, 2013 | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||
Investment securities available-for-sale | |||||||||||||||||
U.S. government agencies | $ | — | $ | 62,036 | $ | — | $ | 62,036 | |||||||||
Mortgage-backed securities-residential | — | 32,097 | — | 32,097 | |||||||||||||
Collateralized mortgage obligations: | |||||||||||||||||
Issued or guaranteed by U.S. government agencies | — | 189,103 | — | 189,103 | |||||||||||||
Non-agency | — | 4,479 | — | 4,479 | |||||||||||||
Corporate bonds | — | 9,438 | — | 9,438 | |||||||||||||
Municipal bonds | — | 6,900 | — | 6,900 | |||||||||||||
Other securities | — | — | 4,625 | 4,625 | |||||||||||||
Common stocks | 49 | — | — | 49 | |||||||||||||
Total investment securities available-for-sale | $ | 49 | $ | 304,053 | $ | 4,625 | $ | 308,727 | |||||||||
The following tables present additional information about assets measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value for the nine months ended September 30, 2014 and 2013: | |||||||||||||||||
(In thousands) | Other securities | ||||||||||||||||
Investment Securities Available for Sale | 2014 | 2013 | |||||||||||||||
Beginning balance January 1, | $ | 4,625 | $ | 4,164 | |||||||||||||
Total gains/(losses) - (realized/unrealized): | |||||||||||||||||
Included in earnings | 251 | 5 | |||||||||||||||
Included in other comprehensive income | 299 | 361 | |||||||||||||||
Purchases | 14 | 32 | |||||||||||||||
Sales and calls | -799 | -300 | |||||||||||||||
Transfers in and/or out of Level 3 | — | — | |||||||||||||||
Ending balance September 30, | $ | 4,390 | $ | 4,262 | |||||||||||||
Items Measured on a Nonrecurring Basis | |||||||||||||||||
Non-accrual loans and TDRs are evaluated for impairment on an individual basis under FASB ASC Topic 310 “Receivables”. The impairment analysis includes current collateral values, known relevant factors that may affect loan collectability, and risks inherent in different kinds of lending. When the collateral value or discounted cash flows less costs to sell is less than the carrying value of the loan a specific reserve (valuation allowance) is established. Loans held for sale are carried at the lower of cost or fair value. OREO is carried at the lower of cost or fair value. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the real estate. Additionally, for collateral acquired from tax liens, fair value may be established using brokers opinions due to their lower carrying value. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. | |||||||||||||||||
For financial assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at September 30, 2014 and December 31, 2013 are as follows: | |||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
As of September 30, 2014 | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||
Assets | |||||||||||||||||
Impaired loans and leases | $ | — | $ | — | $ | 3,739 | $ | 3,739 | |||||||||
Other real estate owned | — | — | 2,624 | 2,624 | |||||||||||||
Loans and leases held for sale | — | — | 1,018 | 1,018 | |||||||||||||
Fair Value Measurements Using: | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
As of December 31, 2013 | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||
Assets | |||||||||||||||||
Impaired loans and leases | $ | — | $ | — | $ | 4,073 | $ | 4,073 | |||||||||
Other real estate owned | — | — | 9,182 | 9,182 | |||||||||||||
Loans and leases held for sale | — | — | 1,446 | 1,446 | |||||||||||||
The following tables present additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value at September 30, 2014 and December 31, 2013: | |||||||||||||||||
Qualitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
As of September 30, 2014 | Valuation | Range | |||||||||||||||
(In thousands) | Fair Value | Techniques | Unobservable Input | (Weighted Average) | |||||||||||||
Impaired loans and leases | $ | 3,739 | Appraisal of | Appraisal adjustments | 0.0% | - | -28.90% | (-20.9%) | |||||||||
collateral (1) | Liquidation expenses | 0.0% | - | -21.10% | (-7.5%) | ||||||||||||
Other real estate owned | 2,624 | Appraisal of | Appraisal adjustments | 0.0% | - | -69.70% | (-11.3%) | ||||||||||
collateral (1) | Liquidation expenses | -14.70% | (-14.7%) | ||||||||||||||
Loans and leases held for sale | 1,018 | Appraisal of | Agreement of sale | 0.0% | |||||||||||||
collateral (1) | |||||||||||||||||
Qualitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
As of December 31, 2013 | Valuation | Range | |||||||||||||||
(In thousands) | Fair Value | Techniques | Unobservable Input | (Weighted Average) | |||||||||||||
Impaired loans and leases | $ | 4,073 | Appraisal of | Appraisal adjustments | 0.0% | - | -25.00% | (-2.0%) | |||||||||
collateral (1) | Liquidation expenses | 0.0% | - | -23.20% | (-6.7%) | ||||||||||||
Other real estate owned | 9,182 | Appraisal of | Appraisal adjustments | 0.0% | - | -62.50% | (-11.2%) | ||||||||||
collateral (1) | Liquidation expenses | -2.80% | - | -6.80% | (-5.0%) | ||||||||||||
Loans and leases held for sale | 1,446 | Appraisal of | Agreement of sale | 0.0% | |||||||||||||
collateral (1) | |||||||||||||||||
-1 | Appraisals may be adjusted for qualitative factors such as interior condition of the property and liquidation expenses. | ||||||||||||||||
The following methods and assumptions were used to estimate the fair values of the Company’s financial instruments at September 30, 2014 and December 31, 2013. The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The methodologies for estimating the fair value of financial instruments that are measured on a recurring or nonrecurring basis are discussed above. | |||||||||||||||||
Cash and cash equivalents (carried at cost): | |||||||||||||||||
The carrying amounts reported in the balance sheet for cash and short-term instruments approximate those assets’ fair values. | |||||||||||||||||
Securities: | |||||||||||||||||
Management uses quoted market prices to determine fair value of securities (level 1). If quoted prices are not available, fair value is based upon valuation techniques such as matrix pricing or other models that use, where possible, current market-based or independently sourced market parameters, such as interest rates (level 2). If observable market-based inputs are not available, the Company uses unobservable inputs to determine appropriate valuation adjustments by reviewing the private equities funds’ financials and K-1 filings (level 3). | |||||||||||||||||
Other Investment (carried at cost): | |||||||||||||||||
This investment includes the Solomon Hess SBA Loan Fund, which the Company invested in to partially satisfy its community reinvestment requirement. Shares in this fund are not publicly traded and therefore have no readily determinable fair market value. An investor can have their investment in the Fund redeemed for the balance of their capital account at any quarter end with 60 days notice to the Fund. The investment in this Fund is recorded at cost. The Company does not record this investment at fair value on a recurring basis, as this investment’s carrying amount approximates fair value. | |||||||||||||||||
Restricted investment in bank stock (carried at cost): | |||||||||||||||||
The carrying amount of restricted investment in bank stock approximates fair value, and considers the limited marketability of such securities. | |||||||||||||||||
Loans held for sale (carried at lower of cost or fair value): | |||||||||||||||||
The fair values of loans held for sale are based upon appraised values of the collateral less costs to sell, management’s estimation of the value of the collateral or expected net sales proceeds. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. | |||||||||||||||||
Loans receivable (carried at cost): | |||||||||||||||||
The fair values of loans are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that re-price frequently and with no significant change in credit risk, fair values are based on carrying values. | |||||||||||||||||
Impaired loans (generally carried at fair value): | |||||||||||||||||
Impaired loans are accounted for under ASC Topic 310. Impaired loans are those in which the Company has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based on the expected proceeds. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. | |||||||||||||||||
Accrued interest receivable and payable (carried at cost): | |||||||||||||||||
The carrying amount of accrued interest receivable and accrued interest payable approximates its fair value. | |||||||||||||||||
Deposit liabilities (carried at cost): | |||||||||||||||||
The fair values disclosed for demand deposits (e.g., interest and noninterest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities on time deposits. | |||||||||||||||||
Short-term borrowings (carried at cost): | |||||||||||||||||
The carrying amounts of short-term borrowings approximate their fair values. | |||||||||||||||||
Long-term debt (carried at cost): | |||||||||||||||||
Fair values of FHLB advances and other long-term borrowings are estimated using discounted cash flow analysis, based on quoted prices for new FHLB advances with similar credit risk characteristics, terms and remaining maturity. These prices obtained from this active market represent a market value that is deemed to represent the transfer price if the liability were assumed by a third party. | |||||||||||||||||
Subordinated debt (carried at cost): | |||||||||||||||||
Fair values of junior subordinated debt are estimated using discounted cash flow analysis, based on market rates currently offered on such debt with similar credit risk characteristics, terms and remaining maturity. | |||||||||||||||||
Off-balance sheet financial instruments (disclosed at cost): | |||||||||||||||||
Fair values for the Company’s off-balance sheet financial instruments (lending commitments and letters of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account, the remaining terms of the agreements and the counterparties’ credit standing. They are not shown in the table because the amounts are immaterial. | |||||||||||||||||
The tables below indicate the fair value of the Company’s financial instruments at September 30, 2014 and December 31, 2013. | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
At September 30, 2014 | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Carrying | Estimated | Assets | Inputs | Inputs | |||||||||||||
(In thousands) | amount | fair value | Level 1 | Level 2 | Level 3 | ||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 21,933 | $ | 21,933 | $ | 21,933 | $ | — | $ | — | |||||||
Investment securities available-for-sale | 265,390 | 265,390 | 50 | 260,950 | 4,390 | ||||||||||||
Other investment | 2,250 | 2,250 | — | — | 2,250 | ||||||||||||
Federal Home Loan Bank stock | 3,678 | 3,678 | — | — | 3,678 | ||||||||||||
Loans held for sale | 1,018 | 1,018 | — | — | 1,018 | ||||||||||||
Loans, net | 385,694 | 383,088 | — | — | 383,088 | ||||||||||||
Accrued interest receivable | 5,554 | 5,554 | — | 5,554 | — | ||||||||||||
Financial Liabilities: | |||||||||||||||||
Demand deposits | 67,901 | 67,901 | — | 67,901 | — | ||||||||||||
NOW and money markets | 203,978 | 203,978 | — | 203,978 | — | ||||||||||||
Savings | 19,142 | 19,142 | — | 19,142 | — | ||||||||||||
Time deposits | 224,765 | 223,270 | — | 223,270 | — | ||||||||||||
Long-term borrowings | 97,540 | 94,885 | — | 94,885 | — | ||||||||||||
Subordinated debt | 25,774 | 24,209 | — | 24,209 | — | ||||||||||||
Accrued interest payable | 2,305 | 2,305 | — | 2,305 | — | ||||||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2013 | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Carrying | Estimated | Assets | Inputs | Inputs | |||||||||||||
(In thousands) | amount | fair value | Level 1 | Level 2 | Level 3 | ||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 16,844 | $ | 16,844 | $ | 16,844 | $ | — | $ | — | |||||||
Investment securities available-for-sale | 308,727 | 308,727 | 49 | 304,053 | 4,625 | ||||||||||||
Other investment | 2,250 | 2,250 | — | — | 2,250 | ||||||||||||
Federal Home Loan Bank stock | 4,204 | 4,204 | — | — | 4,204 | ||||||||||||
Loans held for sale | 1,446 | 1,446 | — | — | 1,446 | ||||||||||||
Loans, net | 352,810 | 349,336 | — | — | 349,336 | ||||||||||||
Accrued interest receivable | 7,054 | 7,054 | — | 7,054 | — | ||||||||||||
Financial Liabilities: | |||||||||||||||||
Demand deposits | 60,473 | 60,473 | — | 60,473 | — | ||||||||||||
NOW and money markets | 210,053 | 210,053 | — | 210,053 | — | ||||||||||||
Savings | 17,593 | 17,593 | — | 17,593 | — | ||||||||||||
Time deposits | 240,845 | 239,102 | — | 239,102 | — | ||||||||||||
Short-term borrowings | 10,000 | 10,000 | 10,000 | — | — | ||||||||||||
Long-term borrowings | 97,881 | 94,896 | — | 94,896 | — | ||||||||||||
Subordinated debt | 25,774 | 26,000 | — | 26,000 | — | ||||||||||||
Accrued interest payable | 965 | 965 | — | 965 | — | ||||||||||||
Limitations | |||||||||||||||||
The fair value estimates are made at a discrete point in time based on relevant market information and information about the financial instruments. Fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. | |||||||||||||||||
These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Further, the foregoing estimates may not reflect the actual amount that could be realized if all or substantially all of the financial instruments were offered for sale. This is due to the fact that no market exists for a sizable portion of the loan, deposit and off balance sheet instruments. | |||||||||||||||||
In addition, the fair value estimates are based on existing on-and-off balance sheet financial instruments without attempting to value anticipated future business and the value of assets and liabilities that are not considered financial instruments. Other significant assets that are not considered financial assets include premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates. | |||||||||||||||||
Finally, reasonable comparability between financial institutions may not be likely due to the wide range of permitted valuation techniques and numerous estimates which must be made given the absence of active secondary markets for many of the financial instruments. This lack of uniform valuation methodologies introduces a greater degree of subjectivity to these estimated fair values. | |||||||||||||||||
Segment_Information
Segment Information | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Segment Information [Abstract] | ' | ||||||||||
Segment Information | ' | ||||||||||
Note 16.Segment Information | |||||||||||
FASB ASC Topic 280, “Segment Reporting” (“ASC Topic 280”) established standards for public business enterprises to report information about operating segments in their annual financial statements and requires that those enterprises report selected information about operating segments in subsequent interim financial reports issued to shareholders. It also established standards for related disclosure about products and services, geographic areas, and major customers. Operating segments are components of an enterprise, which are evaluated regularly by the chief operating decision makers in deciding how to allocate and assess resources and performance. The Company’s chief operating decision makers are the CEO and the Chief Administrative and Risk Officer (“CARO”). The Company has identified its reportable operating segments as “Community Banking” and “Tax Liens”. | |||||||||||
Community banking | |||||||||||
The Company’s community banking segment which includes Royal Bank consists of commercial and retail banking and equipment leasing. The community banking business segment is managed as a single strategic unit which generates revenue from a variety of products and services provided by Royal Bank and Royal Bank Leasing. For example, commercial lending is dependent upon the ability of Royal Bank to fund cash needed to make loans with retail deposits and other borrowings and to manage interest rate and credit risk. | |||||||||||
Tax liens | |||||||||||
At September 30, 2014, Royal Bank’s tax liens segment includes its 80% and 100% ownership interest in CSC and RTL, respectively. At September 30, 2013, Royal Bank’s ownership interest in CSC and RTL was 60%. The Company’s tax liens segment consisted of purchasing delinquent tax certificates from local municipalities at auction and then processing those liens to either encourage the property holder to pay off the lien, or to foreclose and sell the property. The tax liens segment earns income based on interest rates (determined at auction) and penalties assigned by the municipality along with gains on sale of foreclosed properties. CSC is liquidating its assets under an orderly, long term plan. RTL ceased acquiring tax certificates at public auctions in 2010. | |||||||||||
The following table presents selected financial information for reportable business segments for the three and nine months ended September 30, 2014 and 2013. | |||||||||||
Three months ended September 30, 2014 | |||||||||||
Community | |||||||||||
(In thousands) | Banking | Tax Liens | Consolidated | ||||||||
Total assets | $ | 701,803 | $ | 21,666 | $ | 723,469 | |||||
Total deposits | $ | 515,786 | $ | — | $ | 515,786 | |||||
Interest income | $ | 6,889 | $ | 302 | $ | 7,191 | |||||
Interest expense | 1,367 | 256 | 1,623 | ||||||||
Net interest income | $ | 5,522 | $ | 46 | $ | 5,568 | |||||
(Credit) provision for loan and lease losses | -79 | 28 | -51 | ||||||||
Total non-interest income | 987 | 217 | 1,204 | ||||||||
Total non-interest expense | 4,916 | 459 | 5,375 | ||||||||
Income tax expense (benefit) | — | — | — | ||||||||
Net income (loss) | $ | 1,672 | $ | -224 | $ | 1,448 | |||||
Noncontrolling interest | $ | 69 | $ | -44 | $ | 25 | |||||
Net income (loss) attributable to Royal Bancshares | $ | 1,603 | $ | -180 | $ | 1,423 | |||||
Three months ended September 30, 2013 | |||||||||||
Community | |||||||||||
(In thousands) | Banking | Tax Liens | Consolidated | ||||||||
Total assets | $ | 708,864 | $ | 28,136 | $ | 737,000 | |||||
Total deposits | $ | 522,620 | $ | — | $ | 522,620 | |||||
Interest income | $ | 6,485 | $ | 475 | $ | 6,960 | |||||
Interest expense | 1,560 | 330 | 1,890 | ||||||||
Net interest income | $ | 4,925 | $ | 145 | $ | 5,070 | |||||
Provision for loan and lease losses | 178 | 40 | 218 | ||||||||
Total non-interest income | 1,344 | 593 | 1,937 | ||||||||
Total non-interest expense | 5,683 | 607 | 6,290 | ||||||||
Income tax expense (benefit) | — | — | — | ||||||||
Net income | $ | 408 | $ | 91 | $ | 499 | |||||
Noncontrolling interest | $ | 121 | $ | 36 | $ | 157 | |||||
Net income attributable to Royal Bancshares | $ | 287 | $ | 55 | $ | 342 | |||||
Nine months ended September 30, 2014 | |||||||||||
Community | |||||||||||
(In thousands) | Banking | Tax Liens | Consolidated | ||||||||
Total assets | $ | 701,803 | $ | 21,666 | $ | 723,469 | |||||
Total deposits | $ | 515,786 | $ | — | $ | 515,786 | |||||
Interest income | $ | 20,549 | $ | 1,002 | $ | 21,551 | |||||
Interest expense | 4,030 | 840 | 4,870 | ||||||||
Net interest income | $ | 16,519 | $ | 162 | $ | 16,681 | |||||
(Credit) provision for loan and lease losses | -911 | 146 | -765 | ||||||||
Total non-interest income | 2,019 | 773 | 2,792 | ||||||||
Total non-interest expense | 14,221 | 1,507 | 15,728 | ||||||||
Income tax expense (benefit) | — | — | — | ||||||||
Net income (loss) | $ | 5,228 | $ | -718 | $ | 4,510 | |||||
Noncontrolling interest | $ | 337 | $ | -125 | $ | 212 | |||||
Net income (loss) attributable to Royal Bancshares | $ | 4,891 | $ | -593 | $ | 4,298 | |||||
Nine months ended September 30, 2013 | |||||||||||
Community | |||||||||||
(In thousands) | Banking | Tax Liens | Consolidated | ||||||||
Total assets | $ | 708,864 | $ | 28,136 | $ | 737,000 | |||||
Total deposits | $ | 522,620 | $ | — | $ | 522,620 | |||||
Interest income | $ | 18,556 | $ | 1,899 | $ | 20,455 | |||||
Interest expense | 4,525 | 1,142 | 5,667 | ||||||||
Net interest income | $ | 14,031 | $ | 757 | $ | 14,788 | |||||
(Credit) provision for loan and lease losses | -563 | 367 | -196 | ||||||||
Total non-interest income | 3,056 | 1,250 | 4,306 | ||||||||
Total non-interest expense | 16,348 | 3,649 | 19,997 | ||||||||
Income tax expense (benefit) | — | — | — | ||||||||
Net income (loss) | $ | 1,302 | $ | -2,009 | $ | -707 | |||||
Noncontrolling interest | $ | 422 | $ | -786 | $ | -364 | |||||
Net income (loss) attributable to Royal Bancshares | $ | 880 | $ | -1,223 | $ | -343 | |||||
Interest income earned by the community banking segment related to the tax liens segment was approximately $256,000 and $330,000 for the three month periods ended September 30, 2014 and 2013, respectively and $840,000 and $1.1 million for the nine months ended September 30, 2014 and 2013, respectively. | |||||||||||
Federal_Home_Loan_Bank_Stock
Federal Home Loan Bank Stock | 9 Months Ended |
Sep. 30, 2014 | |
Federal Home Loan Bank Stock [Abstract] | ' |
Federal Home Loan Bank Stock | ' |
Note 17.Federal Home Loan Bank Stock | |
As a member of the FHLB, the Company is required to purchase and hold stock in the FHLB to satisfy membership and borrowing requirements. The stock can only be sold to the FHLB or to another member institution, and all sales of FHLB stock must be at par. As a result of these restrictions, there is no active market for the FHLB stock. As of September 30, 2014 and December 31, 2013, FHLB stock totaled $3.7 million and $4.2 million, respectively. | |
FHLB stock is held as a long-term investment and its value is determined based on the ultimate recoverability of the par value. The Company evaluates impairment quarterly. The decision of whether impairment exists is a matter of judgment that reflects management’s view of the FHLB’s long-term performance, which includes factors such as the following: (1) its operating performance, (2) the severity and duration of declines in the fair value of its net assets related to its capital stock amount, (3) its liquidity position, and (4) the impact of legislative and regulatory changes on the FHLB. Based on the capital adequacy and the liquidity position of the FHLB, management believes that the par value of its investment in FHLB stock will be recovered. Accordingly, there is no other-than-temporary impairment related to the carrying amount of the Company’s FHLB stock as of September 30, 2014. | |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2014 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Basis of Financial Presentation | ' |
Basis of Financial Presentation | |
The accompanying unaudited consolidated financial statements include the accounts of Royal Bancshares of Pennsylvania, Inc. (“Royal Bancshares” or the “Company”) and its wholly-owned subsidiaries, Royal Investments of Delaware, Inc., including Royal Investments of Delaware, Inc.’s wholly owned subsidiary, Royal Preferred, LLC, and Royal Bank America (“Royal Bank”), including Royal Bank’s subsidiaries, Royal Real Estate of Pennsylvania, Inc., Royal Investments America, LLC, RBA Property LLC, Narberth Property Acquisition LLC, Rio Marina LLC, and Royal Tax Lien Services, LLC (“RTL”). Royal Bank also has an 80% and 60% ownership interest in Crusader Servicing Corporation (“CSC”) and Royal Bank America Leasing, LP, respectively. At September 30, 2013, Royal Bank’s ownership interest in CSC and RTL was 60%. Effective December 31, 2013, Royal Bank acquired the ownership interest of the former President of CSC and RTL. The two Delaware trusts, Royal Bancshares Capital Trust I and Royal Bancshares Capital Trust II are not consolidated per requirements under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810, “Consolidation” (“ASC Topic 810”). These consolidated financial statements reflect the historical information of the Company. All significant intercompany transactions and balances have been eliminated. | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information. Applications of the principles in the Company’s preparation of the consolidated financial statements in conformity with U.S. GAAP require management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the accompanying notes. These estimates and assumptions are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from those estimates. The interim financial information included herein is unaudited; however, such information reflects all adjustments (consisting solely of normal recurring adjustments) that are, in the opinion of management, necessary to present a fair statement of the results for the interim periods. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2013. The results of operations for the three and nine month periods ended September 30, 2014 are not necessarily indicative of the results to be expected for the full year. | |
Reclassifications | |
Certain items in the 2013 consolidated financial statements and accompanying notes have been reclassified to conform to the current year’s presentation format. There was no effect on net income or net loss for the periods presented herein as a result of the reclassification. | |
Accounting Policies Recently Adopted and Pending Accounting Pronouncements | ' |
Reclassifications | |
Certain items in the 2013 consolidated financial statements and accompanying notes have been reclassified to conform to the current year’s presentation format. There was no effect on net income or net loss for the periods presented herein as a result of the reclassification. | |
Accounting Policies Recently Adopted and Pending Accounting Pronouncements | |
In January 2014, FASB issued ASU No. 2014-04, Receivables (Topic 310): Troubled Debt Restructurings by Creditors (Subtopic 310-40) Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (“ASU 2014-04”). ASC Topic 310 includes guidance that states that a creditor should reclassify a collateralized mortgage loan such that the loan should be derecognized and the collateral asset recognized when it determines that there has been in substance a repossession or foreclosure by the creditor, that is, the creditor receives physical possession of the debtor’s assets regardless of whether formal foreclosure proceedings take place. However, the terms in substance a repossession or foreclosure and physical possession are not defined in the accounting literature and there is diversity about when a creditor should derecognize the loan receivable and recognize the real estate property. That diversity has been highlighted by recent extended foreclosure timelines and processes related to residential real estate properties. | |
The objectives in ASU 2014-04 are intended to reduce diversity in practice by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate property recognized. Holding foreclosed real estate property presents different operational and economic risk to creditors compared with holding an impaired loan. Therefore, consistency in the timing of loan derecognition and presentation of foreclosed real estate properties is of qualitative significance to users of the creditor’s financial statements. Additionally, the disclosure of the amount of foreclosed residential real estate properties and of the recorded investment in consumer mortgage loans secured by residential real estate properties that are in the process of foreclosure is expected to provide decision-useful information to many users of the creditor’s financial statements. The amendments in ASU 2014-04 are effective for public companies for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in ASU 2014-04 using either a modified retrospective transition method or a prospective transition method. Early adoption is permitted. The adoption of ASU 2014-04 is not expected to have a significant impact on the Company’s consolidated financial statements. | |
In April 2014, FASB issued ASU No. 2014-08 Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). The amendments in ASU 2014-08 change the criteria for reporting discontinued operations for all public and nonpublic entities. Currently, a component of an entity that is a reportable segment, an operating segment, a reporting unit, a subsidiary, or an asset group is eligible for discontinued operations presentation. Once the amendments of ASU 2014-08 take effect, only those disposals of components of an entity that represent a strategic shift that has (or will have) a major effect on an entity’s operations and financial results will be reported as discontinued operations in the financial statements. The amendments also require new disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. The amendments in ASU 2014-08 are effective for public companies for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The adoption of ASU 2014-08 is not expected to have a significant impact on the Company’s consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-12, Compensation – Stock Compensation (Topic 718) - Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (“ASU 2014-12”). The amendments in ASU 2014-12 require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Topic 718, Compensation – Stock Compensation, as it relates to awards with performance conditions that affect vesting to account for such awards. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of the requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. The requisite service period ends when the employee can cease rendering service and still be eligible to vest in the award if the performance target is achieved. The amendments in ASU 2014-12 are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in this ASU either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The adoption of ASU 2014-12 is not expected to have a significant impact on the Company’s consolidated financial statements. | |
In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (“ASU 2014-11”), which changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. The new guidance aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as a repurchase financing with the accounting for other typical repurchase agreements. Going forward, these transactions would all be accounted for as secured borrowings. It also requires additional disclosures about repurchase agreements and other similar transactions. The amendments in ASU 2014-11 and disclosure for certain transactions accounted for as a sale are effective for the first interim or annual period beginning after December 15, 2014. The disclosure for transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and interim periods beginning after March 15, 2015. Earlier application is prohibited. The adoption of ASU 2014-11 is not expected to have a material impact on the Company’s financial condition and results of operations. | |
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Investment Securities [Abstract] | ' | |||||||||||||||||||
Amortized cost, gross unrealized gains and losses, and fair value of available-for-sale investment securities | ' | |||||||||||||||||||
As of September 30, 2014 | Included in AOCL* | |||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | unrealized | unrealized | ||||||||||||||||||
(In thousands) | cost | gains | losses | Fair value | ||||||||||||||||
U.S. government agencies | $ | 34,092 | $ | — | $ | -1,551 | $ | 32,541 | ||||||||||||
Mortgage-backed securities-residential | 27,000 | 377 | -250 | 27,127 | ||||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||
Issued or guaranteed by U.S. government agencies | 171,696 | 2,521 | -1,533 | 172,684 | ||||||||||||||||
Non-agency | 3,965 | 7 | -34 | 3,938 | ||||||||||||||||
Corporate bonds | 15,630 | 68 | -65 | 15,633 | ||||||||||||||||
Municipal bonds | 9,030 | 51 | -54 | 9,027 | ||||||||||||||||
Other securities | 2,829 | 1,597 | -36 | 4,390 | ||||||||||||||||
Common stocks | 33 | 17 | — | 50 | ||||||||||||||||
Total available for sale | $ | 264,275 | $ | 4,638 | $ | -3,523 | $ | 265,390 | ||||||||||||
As of December 31, 2013 | Included in AOCL* | |||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | unrealized | unrealized | ||||||||||||||||||
(In thousands) | cost | gains | losses | Fair value | ||||||||||||||||
U.S. government agencies | $ | 68,207 | $ | — | $ | -6,171 | $ | 62,036 | ||||||||||||
Mortgage-backed securities-residential | 32,769 | 210 | -882 | 32,097 | ||||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||
Issued or guaranteed by U.S. government agencies | 188,194 | 2,887 | -1,978 | 189,103 | ||||||||||||||||
Non-agency | 4,454 | 25 | — | 4,479 | ||||||||||||||||
Corporate bonds | 9,669 | 25 | -256 | 9,438 | ||||||||||||||||
Municipal bonds | 7,163 | — | -263 | 6,900 | ||||||||||||||||
Other securities | 3,363 | 1,405 | -143 | 4,625 | ||||||||||||||||
Common stocks | 33 | 16 | — | 49 | ||||||||||||||||
Total available for sale | $ | 313,852 | $ | 4,568 | $ | -9,693 | $ | 308,727 | ||||||||||||
*Accumulated other comprehensive loss | ||||||||||||||||||||
Amortized cost and fair value of investment securities, by contractual maturity | ' | |||||||||||||||||||
As of September 30, 2014 | ||||||||||||||||||||
Amortized | ||||||||||||||||||||
(In thousands) | cost | Fair value | ||||||||||||||||||
Within 1 year | $ | 2,003 | $ | 1,987 | ||||||||||||||||
After 1 but within 5 years | 10,345 | 10,324 | ||||||||||||||||||
After 5 but within 10 years | 29,322 | 28,653 | ||||||||||||||||||
After 10 years | 17,082 | 16,237 | ||||||||||||||||||
Mortgage-backed securities-residential | 27,000 | 27,127 | ||||||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||
Issued or guaranteed by U.S. government agencies | 171,696 | 172,684 | ||||||||||||||||||
Non-agency | 3,965 | 3,938 | ||||||||||||||||||
Total available for sale debt securities | 261,413 | 260,950 | ||||||||||||||||||
No contractual maturity | 2,862 | 4,440 | ||||||||||||||||||
Total available for sale securities | $ | 264,275 | $ | 265,390 | ||||||||||||||||
Gross realized gains and losses realized on sale of securities | ' | |||||||||||||||||||
For the three months | For the nine months ended | |||||||||||||||||||
ended September 30, | ended September 30, | |||||||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Gross realized gains | $ | 446 | $ | — | $ | 1,143 | $ | 181 | ||||||||||||
Gross realized losses | -208 | -1 | -813 | -112 | ||||||||||||||||
Net realized gains (losses) | $ | 238 | $ | -1 | $ | 330 | $ | 69 | ||||||||||||
Schedule of credit related impairment losses on debt securities held, for portion of OTTI was recognized in other comprehensive income | ' | |||||||||||||||||||
(In thousands) | 2013 | |||||||||||||||||||
Balance at January 1, | $ | 173 | ||||||||||||||||||
Reductions for securities sold during the period (realized) | -173 | |||||||||||||||||||
Reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the Company intends to sell the security | — | |||||||||||||||||||
Balance at September 30, | $ | — | ||||||||||||||||||
Investment securities in a continuous unrealized loss position | ' | |||||||||||||||||||
30-Sep-14 | Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||
unrealized | unrealized | unrealized | ||||||||||||||||||
(In thousands) | Fair value | losses | Fair value | losses | Fair value | losses | ||||||||||||||
U.S. government agencies | $ | — | $ | — | $ | 32,541 | $ | -1,551 | $ | 32,541 | $ | -1,551 | ||||||||
Mortgage-backed securities-residential | 7,619 | -38 | 9,017 | -212 | 16,636 | -250 | ||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||
Issued or guaranteed by U.S. government agencies | 49,360 | -376 | 37,312 | -1,157 | 86,672 | -1,533 | ||||||||||||||
Non-agency | 1,464 | -34 | — | — | 1,464 | -34 | ||||||||||||||
Corporate bonds | 9,027 | -56 | 991 | -9 | 10,018 | -65 | ||||||||||||||
Municipal bonds | 623 | -15 | 3,539 | -39 | 4,162 | -54 | ||||||||||||||
Other securities | — | — | 268 | -36 | 268 | -36 | ||||||||||||||
Total available-for-sale | $ | 68,093 | $ | -519 | $ | 83,668 | $ | -3,004 | $ | 151,761 | $ | -3,523 | ||||||||
31-Dec-13 | Less than 12 months | 12 months or longer | Total | |||||||||||||||||
Gross | Gross | Gross | ||||||||||||||||||
unrealized | unrealized | unrealized | ||||||||||||||||||
(In thousands) | Fair value | losses | Fair value | losses | Fair value | losses | ||||||||||||||
U.S. government agencies | $ | 48,919 | $ | -5,035 | $ | 12,267 | $ | -1,136 | $ | 61,186 | $ | -6,171 | ||||||||
Mortgage-backed securities-residential | 18,045 | -518 | 6,276 | -364 | 24,321 | -882 | ||||||||||||||
Collateralized mortgage obligations: | ||||||||||||||||||||
Issued or guaranteed by U.S. government agencies | 67,240 | -1,446 | 9,974 | -532 | 77,214 | -1,978 | ||||||||||||||
Corporate bonds | 4,848 | -221 | 965 | -35 | 5,813 | -256 | ||||||||||||||
Municipal bonds | 3,019 | -102 | 3,881 | -161 | 6,900 | -263 | ||||||||||||||
Other securities | — | — | 301 | -143 | 301 | -143 | ||||||||||||||
Total available-for-sale | $ | 142,071 | $ | -7,322 | $ | 33,664 | $ | -2,371 | $ | 175,735 | $ | -9,693 | ||||||||
Loans_and_Leases_Tables
Loans and Leases (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Loans and Leases [Abstract] | ' | ||||||||||||||||||||||||
Major classifications of loans held for investment | ' | ||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
(In thousands) | 2014 | 2013 | |||||||||||||||||||||||
Commercial real estate | $ | 164,522 | $ | 148,293 | |||||||||||||||||||||
Construction and land development | 41,676 | 45,261 | |||||||||||||||||||||||
Commercial and industrial | 70,743 | 79,589 | |||||||||||||||||||||||
Multi-family | 16,893 | 11,737 | |||||||||||||||||||||||
Residential real estate | 44,261 | 25,535 | |||||||||||||||||||||||
Leases | 48,588 | 42,524 | |||||||||||||||||||||||
Tax certificates | 8,230 | 12,716 | |||||||||||||||||||||||
Consumer | 2,263 | 826 | |||||||||||||||||||||||
Total LHFI, net of unearned income | $ | 397,176 | $ | 366,481 | |||||||||||||||||||||
Risk ratings for loan portfolio segment | ' | ||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||
(In thousands) | Pass | Pass-Watch | Special Mention | Substandard | Non-accrual | Total | |||||||||||||||||||
Commercial real estate | $ | 128,983 | $ | 25,167 | $ | 5,062 | $ | 1,578 | $ | 3,732 | $ | 164,522 | |||||||||||||
Construction and land development | 12,685 | 25,051 | 3,125 | — | 815 | 41,676 | |||||||||||||||||||
Commercial & industrial | 56,385 | 7,688 | 750 | 3,337 | 2,583 | 70,743 | |||||||||||||||||||
Multi-family | 16,050 | 321 | 522 | — | — | 16,893 | |||||||||||||||||||
Residential real estate | 43,278 | — | — | — | 983 | 44,261 | |||||||||||||||||||
Leases | 47,863 | 197 | 3 | — | 525 | 48,588 | |||||||||||||||||||
Tax certificates | 7,102 | — | — | — | 1,128 | 8,230 | |||||||||||||||||||
Consumer | 2,207 | 56 | — | — | — | 2,263 | |||||||||||||||||||
Total LHFI, net of unearned income | $ | 314,553 | $ | 58,480 | $ | 9,462 | $ | 4,915 | $ | 9,766 | $ | 397,176 | |||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
(In thousands) | Pass | Pass-Watch | Special Mention | Substandard | Non-accrual | Total | |||||||||||||||||||
Commercial real estate | $ | 99,525 | $ | 32,267 | $ | 11,572 | $ | 2,604 | $ | 2,325 | $ | 148,293 | |||||||||||||
Construction and land development | 14,677 | 16,270 | 11,095 | 569 | 2,650 | 45,261 | |||||||||||||||||||
Commercial & industrial | 50,478 | 10,508 | 5,735 | 9,239 | 3,629 | 79,589 | |||||||||||||||||||
Multi-family | 10,792 | 410 | 535 | — | — | 11,737 | |||||||||||||||||||
Residential real estate | 24,903 | — | — | — | 632 | 25,535 | |||||||||||||||||||
Leases | 41,325 | 485 | 247 | — | 467 | 42,524 | |||||||||||||||||||
Tax certificates | 12,262 | — | — | — | 454 | 12,716 | |||||||||||||||||||
Consumer | 750 | 76 | — | — | — | 826 | |||||||||||||||||||
Total LHFI, net of unearned income | $ | 254,712 | $ | 60,016 | $ | 29,184 | $ | 12,412 | $ | 10,157 | $ | 366,481 | |||||||||||||
Aging analysis of past due payments for loan portfolio segment | ' | ||||||||||||||||||||||||
As of September 30, 2014 | 30-59 Days | 60-89 Days | Accruing | ||||||||||||||||||||||
(In thousands) | Past Due | Past Due | 90+ Days | Non-accrual | Current | Total | |||||||||||||||||||
Commercial real estate | $ | — | $ | — | $ | — | $ | 3,732 | $ | 160,790 | $ | 164,522 | |||||||||||||
Construction and land development | — | — | — | 815 | 40,861 | 41,676 | |||||||||||||||||||
Commercial & industrial | 41 | 40 | — | 2,583 | 68,079 | 70,743 | |||||||||||||||||||
Multi-family | — | — | — | — | 16,893 | 16,893 | |||||||||||||||||||
Residential real estate | 47 | 116 | — | 983 | 43,115 | 44,261 | |||||||||||||||||||
Leases | 198 | 3 | — | 525 | 47,862 | 48,588 | |||||||||||||||||||
Tax certificates | — | — | — | 1,128 | 7,102 | 8,230 | |||||||||||||||||||
Consumer | — | — | — | — | 2,263 | 2,263 | |||||||||||||||||||
Total LHFI, net of unearned income | $ | 286 | $ | 159 | $ | — | $ | 9,766 | $ | 386,965 | $ | 397,176 | |||||||||||||
As of December 31, 2013 | 30-59 Days | 60-89 Days | Accruing | ||||||||||||||||||||||
(In thousands) | Past Due | Past Due | 90+ Days | Non-accrual | Current | Total | |||||||||||||||||||
Commercial real estate | $ | 996 | $ | — | $ | — | $ | 2,325 | $ | 144,972 | $ | 148,293 | |||||||||||||
Construction and land development | — | — | — | 2,650 | 42,611 | 45,261 | |||||||||||||||||||
Commercial & industrial | 115 | 49 | — | 3,629 | 75,796 | 79,589 | |||||||||||||||||||
Multi-family | — | — | — | — | 11,737 | 11,737 | |||||||||||||||||||
Residential real estate | 458 | 262 | — | 632 | 24,183 | 25,535 | |||||||||||||||||||
Leases | 485 | 247 | — | 467 | 41,325 | 42,524 | |||||||||||||||||||
Tax certificates | — | — | — | 454 | 12,262 | 12,716 | |||||||||||||||||||
Consumer | — | — | — | — | 826 | 826 | |||||||||||||||||||
Total LHFI, net of unearned income | $ | 2,054 | $ | 558 | $ | — | $ | 10,157 | $ | 353,712 | $ | 366,481 | |||||||||||||
Composition of the non-accrual loans | ' | ||||||||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||||||||
Loan | Specific | Loan | Specific | ||||||||||||||||||||||
(In thousands) | balance | reserves | balance | reserves | |||||||||||||||||||||
Non-accrual loans held for investment | |||||||||||||||||||||||||
Commercial real estate | $ | 3,732 | $ | 205 | $ | 2,325 | $ | 331 | |||||||||||||||||
Construction and land development | 815 | 172 | 2,650 | — | |||||||||||||||||||||
Commercial & industrial | 2,583 | 5 | 3,629 | 452 | |||||||||||||||||||||
Residential real estate | 983 | 30 | 632 | 19 | |||||||||||||||||||||
Leases | 525 | 62 | 467 | 60 | |||||||||||||||||||||
Tax certificates | 1,128 | 19 | 454 | 24 | |||||||||||||||||||||
Total non-accrual LHFI | $ | 9,766 | $ | 493 | $ | 10,157 | $ | 886 | |||||||||||||||||
Non-accrual loans held for sale | |||||||||||||||||||||||||
Construction and land development | $ | 1,018 | $ | — | $ | — | $ | — | |||||||||||||||||
Total non-accrual LHFS | $ | 1,018 | $ | — | $ | — | $ | — | |||||||||||||||||
Total non-accrual loans | $ | 10,784 | $ | 493 | $ | 10,157 | $ | 886 | |||||||||||||||||
Information pertaining to impaired Loans | ' | ||||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||||
(In thousands) | 2014 | 2013 | |||||||||||||||||||||||
Impaired LHFI with a valuation allowance | $ | 4,232 | $ | 3,835 | |||||||||||||||||||||
Impaired LHFI without a valuation allowance | 11,909 | 14,671 | |||||||||||||||||||||||
Impaired LHFS | 1,018 | — | |||||||||||||||||||||||
Total impaired loans and leases | $ | 17,159 | $ | 18,506 | |||||||||||||||||||||
Valuation allowance related to impaired LHFI | $ | 493 | $ | 886 | |||||||||||||||||||||
Troubled debt restructurings that are on an accrual status and a non-accrual status | ' | ||||||||||||||||||||||||
As of September 30, 2014 | |||||||||||||||||||||||||
Non- | |||||||||||||||||||||||||
Number of | Accrual | Accrual | |||||||||||||||||||||||
(In thousands) | loans | Status | Status | Total TDRs | |||||||||||||||||||||
Commercial real estate | 2 | $ | 2,883 | $ | — | $ | 2,883 | ||||||||||||||||||
Construction and land development | 3 | 378 | 815 | 1,193 | |||||||||||||||||||||
Commercial & industrial | 6 | 3,672 | 1,497 | 5,169 | |||||||||||||||||||||
Residential real estate | 1 | — | 105 | 105 | |||||||||||||||||||||
Total | 12 | $ | 6,933 | $ | 2,417 | $ | 9,350 | ||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
Non- | |||||||||||||||||||||||||
Number of | Accrual | Accrual | |||||||||||||||||||||||
(In thousands) | loans | Status | Status | Total TDRs | |||||||||||||||||||||
Commercial real estate | 3 | $ | 3,847 | $ | — | $ | 3,847 | ||||||||||||||||||
Construction and land development | 4 | 1,257 | 479 | 1,736 | |||||||||||||||||||||
Commercial & industrial | 3 | 4,420 | 1,960 | 6,380 | |||||||||||||||||||||
Residential real estate | 2 | — | 121 | 121 | |||||||||||||||||||||
Total | 12 | $ | 9,524 | $ | 2,560 | $ | 12,084 | ||||||||||||||||||
Newly restructured loans | ' | ||||||||||||||||||||||||
Modifications by type for the three months ended September 30, 2014 | |||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||
Number of | Combination | Recorded | Recorded | ||||||||||||||||||||||
(Dollars in thousands) | loans | Rate | Term | Payment | of types | Total | Investment | Investment | |||||||||||||||||
Commercial & industrial | 1 | $ | — | $ | 188 | $ | — | $ | — | $ | 188 | $ | 189 | $ | 189 | ||||||||||
Total | 1 | $ | — | $ | 188 | $ | — | $ | — | $ | 188 | $ | 189 | $ | 189 | ||||||||||
Modifications by type for the nine months ended September 30, 2014 | |||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||
Number of | Combination | Recorded | Recorded | ||||||||||||||||||||||
(Dollars in thousands) | loans | Rate | Term | Payment | of types | Total | Investment | Investment | |||||||||||||||||
Commercial & industrial | 3 | $ | — | $ | 233 | $ | — | $ | 28 | $ | 261 | $ | 262 | $ | 262 | ||||||||||
Total | 3 | $ | — | $ | 233 | $ | — | $ | 28 | $ | 261 | $ | 262 | $ | 262 | ||||||||||
Modifications by type for the nine months ended September 30, 2013 | |||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||
Outstanding | Outstanding | ||||||||||||||||||||||||
Number of | Combination | Recorded | Recorded | ||||||||||||||||||||||
(Dollars in thousands) | loans | Rate | Term | Payment | of types | Total | Investment | Investment | |||||||||||||||||
Commercial real estate | 2 | $ | — | $ | — | $ | — | $ | 3,705 | $ | 3,705 | $ | 3,761 | $ | 3,761 | ||||||||||
Commercial & industrial | 1 | — | — | — | 82 | 82 | 87 | 87 | |||||||||||||||||
Total | 3 | $ | — | $ | — | $ | — | $ | 3,787 | $ | 3,787 | $ | 3,848 | $ | 3,848 | ||||||||||
Allowance_for_Loan_and_Lease_L1
Allowance for Loan and Lease Losses (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses [Abstract] | ' | |||||||||||||||||||||||||||||||
Detail of the allowance and loan portfolio disaggregated by loan portfolio segment | ' | |||||||||||||||||||||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||||||||||
For the three months ended September 30, 2014 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
Beginning balance | $ | 4,971 | $ | 2,033 | $ | 1,525 | $ | 416 | $ | 690 | $ | 1,352 | $ | 408 | $ | 24 | $ | 150 | $ | 11,569 | ||||||||||||
Charge-offs | — | — | — | — | — | -206 | -65 | — | — | -271 | ||||||||||||||||||||||
Recoveries | — | 205 | 12 | — | 5 | 13 | — | — | — | 235 | ||||||||||||||||||||||
(Credit) provision | -266 | 3 | -106 | -63 | 25 | 325 | 29 | 9 | -7 | -51 | ||||||||||||||||||||||
Ending balance | $ | 4,705 | $ | 2,241 | $ | 1,431 | $ | 353 | $ | 720 | $ | 1,484 | $ | 372 | $ | 33 | $ | 143 | $ | 11,482 | ||||||||||||
Ending balance: related to loans individually evaluated for impairment | $ | 205 | $ | 172 | $ | 5 | $ | — | $ | 30 | $ | 62 | $ | 19 | $ | — | $ | — | $ | 493 | ||||||||||||
Ending balance: related to loans collectively evaluated for impairment | $ | 4,500 | $ | 2,069 | $ | 1,426 | $ | 353 | $ | 690 | $ | 1,422 | $ | 353 | $ | 33 | $ | 143 | $ | 10,989 | ||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||||||||||
For the nine months ended September 30, 2014 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
Beginning balance | $ | 5,498 | $ | 2,316 | $ | 3,006 | $ | 402 | $ | 473 | $ | 1,223 | $ | 555 | $ | 15 | $ | 183 | $ | 13,671 | ||||||||||||
Charge-offs | -349 | — | -452 | — | — | -568 | -330 | — | — | -1,699 | ||||||||||||||||||||||
Recoveries | — | 205 | 23 | — | 11 | 35 | 1 | — | — | 275 | ||||||||||||||||||||||
(Credit) provision | -444 | -280 | -1,146 | -49 | 236 | 794 | 146 | 18 | -40 | -765 | ||||||||||||||||||||||
Ending balance | $ | 4,705 | $ | 2,241 | $ | 1,431 | $ | 353 | $ | 720 | $ | 1,484 | $ | 372 | $ | 33 | $ | 143 | $ | 11,482 | ||||||||||||
Ending balance: related to loans individually evaluated for impairment | $ | 205 | $ | 172 | $ | 5 | $ | — | $ | 30 | $ | 62 | $ | 19 | $ | — | $ | — | $ | 493 | ||||||||||||
Ending balance: related to loans collectively evaluated for impairment | $ | 4,500 | $ | 2,069 | $ | 1,426 | $ | 353 | $ | 690 | $ | 1,422 | $ | 353 | $ | 33 | $ | 143 | $ | 10,989 | ||||||||||||
Loans Held for Investment and Evaluated for Impairment | ||||||||||||||||||||||||||||||||
For the three and nine months ended September 30, 2014 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
LHFI | ||||||||||||||||||||||||||||||||
Ending balance | $ | 164,522 | $ | 41,676 | $ | 70,743 | $ | 16,893 | $ | 44,261 | $ | 48,588 | $ | 8,230 | $ | 2,263 | $ | — | $ | 397,176 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 6,877 | $ | 1,192 | $ | 5,897 | $ | — | $ | 983 | $ | 64 | $ | 1,128 | $ | — | $ | — | $ | 16,141 | ||||||||||||
Ending balance: collectively evaluated for impairment | $ | 157,645 | $ | 40,484 | $ | 64,846 | $ | 16,893 | $ | 43,278 | $ | 48,524 | $ | 7,102 | $ | 2,263 | $ | — | $ | 381,035 | ||||||||||||
Allowance for Loan and Lease Losses and Loans Held for Investment | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
Beginning balance | $ | 8,750 | $ | 2,987 | $ | 1,924 | $ | 654 | $ | 1,098 | $ | 1,108 | $ | 472 | $ | 29 | $ | 239 | $ | 17,261 | ||||||||||||
Charge-offs | -1,684 | -820 | -383 | — | -46 | -382 | -578 | — | — | -3,893 | ||||||||||||||||||||||
Recoveries | 600 | 297 | 17 | — | 158 | 29 | 74 | — | — | 1,175 | ||||||||||||||||||||||
(Credit) provision | -2,168 | -148 | 1,448 | -252 | -737 | 468 | 587 | -14 | -56 | -872 | ||||||||||||||||||||||
Ending balance | $ | 5,498 | $ | 2,316 | $ | 3,006 | $ | 402 | $ | 473 | $ | 1,223 | $ | 555 | $ | 15 | $ | 183 | $ | 13,671 | ||||||||||||
Ending balance: related to loans individually evaluated for impairment | $ | 331 | $ | — | $ | 452 | $ | — | $ | 19 | $ | 60 | $ | 24 | $ | — | $ | — | $ | 886 | ||||||||||||
Ending balance: related to loans collectively evaluated for impairment | $ | 5,167 | $ | 2,316 | $ | 2,554 | $ | 402 | $ | 454 | $ | 1,163 | $ | 531 | $ | 15 | $ | 183 | $ | 12,785 | ||||||||||||
LHFI | ||||||||||||||||||||||||||||||||
Ending balance | $ | 148,293 | $ | 45,261 | $ | 79,589 | $ | 11,737 | $ | 25,535 | $ | 42,524 | $ | 12,716 | $ | 826 | $ | — | $ | 366,481 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 5,325 | $ | 3,907 | $ | 8,049 | $ | — | $ | 632 | $ | 139 | $ | 454 | $ | — | $ | — | $ | 18,506 | ||||||||||||
Ending balance: collectively evaluated for impairment | $ | 142,968 | $ | 41,354 | $ | 71,540 | $ | 11,737 | $ | 24,903 | $ | 42,385 | $ | 12,262 | $ | 826 | $ | — | $ | 347,975 | ||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||||||||||
For the three months ended September 30, 2013 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
Beginning balance | $ | 7,952 | $ | 2,017 | $ | 2,465 | $ | 588 | $ | 353 | $ | 999 | $ | 586 | $ | 18 | $ | 201 | $ | 15,179 | ||||||||||||
Charge-offs | -605 | — | -34 | — | -32 | -40 | -126 | — | — | -837 | ||||||||||||||||||||||
Recoveries | 1 | 106 | 4 | — | 2 | 4 | 2 | — | — | 119 | ||||||||||||||||||||||
Provision (credit) | -1,159 | 72 | 1,080 | -114 | 175 | 133 | 41 | -3 | -7 | 218 | ||||||||||||||||||||||
Ending balance | $ | 6,189 | $ | 2,195 | $ | 3,515 | $ | 474 | $ | 498 | $ | 1,096 | $ | 503 | $ | 15 | $ | 194 | $ | 14,679 | ||||||||||||
Ending balance: related to loans individually evaluated for impairment | $ | 230 | $ | — | $ | 209 | $ | — | $ | 16 | $ | 138 | $ | 67 | $ | — | $ | — | $ | 660 | ||||||||||||
Ending balance: related to loans collectively evaluated for impairment | $ | 5,959 | $ | 2,195 | $ | 3,306 | $ | 474 | $ | 482 | $ | 958 | $ | 436 | $ | 15 | $ | 194 | $ | 14,019 | ||||||||||||
Allowance for Loan and Lease Losses | ||||||||||||||||||||||||||||||||
For the nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
Beginning balance | $ | 8,750 | $ | 2,987 | $ | 1,924 | $ | 654 | $ | 1,098 | $ | 1,108 | $ | 472 | $ | 29 | $ | 239 | $ | 17,261 | ||||||||||||
Charge-offs | -1,440 | -820 | -228 | — | -32 | -149 | -410 | — | — | -3,079 | ||||||||||||||||||||||
Recoveries | 127 | 297 | 14 | — | 157 | 24 | 74 | — | — | 693 | ||||||||||||||||||||||
Provision (credit) | -1,248 | -269 | 1,805 | -180 | -725 | 113 | 367 | -14 | -45 | -196 | ||||||||||||||||||||||
Ending balance | $ | 6,189 | $ | 2,195 | $ | 3,515 | $ | 474 | $ | 498 | $ | 1,096 | $ | 503 | $ | 15 | $ | 194 | $ | 14,679 | ||||||||||||
Ending balance: related to loans individually evaluated for impairment | $ | 230 | $ | — | $ | 209 | $ | — | $ | 16 | $ | 138 | $ | 67 | $ | — | $ | — | $ | 660 | ||||||||||||
Ending balance: related to loans collectively evaluated for impairment | $ | 5,959 | $ | 2,195 | $ | 3,306 | $ | 474 | $ | 482 | $ | 958 | $ | 436 | $ | 15 | $ | 194 | $ | 14,019 | ||||||||||||
Loans Held for Investment and Evaluated for Impairment | ||||||||||||||||||||||||||||||||
For the three and nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||
Construction | ||||||||||||||||||||||||||||||||
Commercial | and land | Commercial | Multi- | Residential | Tax | |||||||||||||||||||||||||||
(In thousands) | real estate | development | & industrial | family | real estate | Leases | certificates | Consumer | Unallocated | Total | ||||||||||||||||||||||
LHFI | ||||||||||||||||||||||||||||||||
Ending balance | $ | 158,223 | $ | 39,594 | $ | 86,401 | $ | 11,678 | $ | 24,830 | $ | 40,408 | $ | 15,364 | $ | 831 | $ | — | $ | 377,329 | ||||||||||||
Ending balance: individually evaluated for impairment | $ | 10,045 | $ | 4,019 | $ | 8,112 | $ | — | $ | 520 | $ | 190 | $ | 532 | $ | — | $ | — | $ | 23,418 | ||||||||||||
Ending balance: collectively evaluated for impairment | $ | 148,178 | $ | 35,575 | $ | 78,289 | $ | 11,678 | $ | 24,310 | $ | 40,218 | $ | 14,832 | $ | 831 | $ | — | $ | 353,911 | ||||||||||||
Financing receivable evaluated for impairment by portfolio segment | ' | |||||||||||||||||||||||||||||||
The following tables detail the LHFI that were evaluated for impairment by loan classification at September 30, 2014 and December 31, 2013. | ||||||||||||||||||||||||||||||||
At September 30, 2014 | ||||||||||||||||||||||||||||||||
Unpaid | ||||||||||||||||||||||||||||||||
principal | Recorded | Related | ||||||||||||||||||||||||||||||
(In thousands) | balance | investment | allowance | |||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||
Commercial real estate | $ | 7,410 | $ | 5,986 | $ | — | ||||||||||||||||||||||||||
Construction and land development | 2,690 | 633 | — | |||||||||||||||||||||||||||||
Commercial & industrial | 8,133 | 4,400 | — | |||||||||||||||||||||||||||||
Residential real estate | — | — | — | |||||||||||||||||||||||||||||
Tax certificates | 5,376 | 890 | — | |||||||||||||||||||||||||||||
Total: | $ | 23,609 | $ | 11,909 | $ | — | ||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,137 | $ | 891 | $ | 205 | ||||||||||||||||||||||||||
Construction and land development | 559 | 559 | 172 | |||||||||||||||||||||||||||||
Commercial & industrial | 1,721 | 1,497 | 5 | |||||||||||||||||||||||||||||
Residential real estate | 1,080 | 983 | 30 | |||||||||||||||||||||||||||||
Leasing | 64 | 64 | 62 | |||||||||||||||||||||||||||||
Tax certificates | 4,244 | 238 | 19 | |||||||||||||||||||||||||||||
Total: | $ | 8,805 | $ | 4,232 | $ | 493 | ||||||||||||||||||||||||||
At and for the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||
Unpaid | Average | Interest | ||||||||||||||||||||||||||||||
principal | Recorded | Related | recorded | income | ||||||||||||||||||||||||||||
(In thousands) | balance | investment | allowance | investment | recognized | |||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||||||
Commercial real estate | $ | 4,429 | $ | 4,158 | $ | — | $ | 7,956 | $ | 73 | ||||||||||||||||||||||
Construction and land development | 9,850 | 3,907 | — | 3,933 | 209 | |||||||||||||||||||||||||||
Commercial & industrial | 6,693 | 6,491 | — | 5,960 | 250 | |||||||||||||||||||||||||||
Residential real estate | — | — | — | 84 | 27 | |||||||||||||||||||||||||||
Tax certificates | 179 | 115 | — | 167 | — | |||||||||||||||||||||||||||
Total: | $ | 21,151 | $ | 14,671 | $ | — | $ | 18,100 | $ | 559 | ||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,435 | $ | 1,435 | $ | 331 | $ | 1,879 | $ | — | ||||||||||||||||||||||
Construction and land development | — | — | — | 381 | — | |||||||||||||||||||||||||||
Commercial & industrial | 2,592 | 1,290 | 452 | 2,456 | — | |||||||||||||||||||||||||||
Residential real estate | 827 | 631 | 19 | 492 | — | |||||||||||||||||||||||||||
Leases | 139 | 139 | 60 | 106 | — | |||||||||||||||||||||||||||
Tax certificates | 4,322 | 340 | 24 | 341 | — | |||||||||||||||||||||||||||
Total: | $ | 9,315 | $ | 3,835 | $ | 886 | $ | 5,655 | $ | — | ||||||||||||||||||||||
The following tables present the average recorded investment in impaired LHFI and the related interest income recognized for the three and nine months ended September 30, 2014 and 2013. | ||||||||||||||||||||||||||||||||
For the three months ended September 30, 2014 | For the nine months ended September 30, 2014 | |||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||
recorded | income | recorded | income | |||||||||||||||||||||||||||||
(In thousands) | investment | recognized | investment | recognized | ||||||||||||||||||||||||||||
Commercial real estate | $ | 5,571 | $ | 33 | $ | 5,258 | $ | 65 | ||||||||||||||||||||||||
Construction and land development | 1,673 | 11 | 2,823 | 68 | ||||||||||||||||||||||||||||
Commercial & industrial | 6,085 | 52 | 6,658 | 159 | ||||||||||||||||||||||||||||
Residential real estate | 993 | — | 833 | — | ||||||||||||||||||||||||||||
Leasing | 75 | — | 112 | — | ||||||||||||||||||||||||||||
Tax certificates | 1,134 | 918 | ||||||||||||||||||||||||||||||
Total: | $ | 15,531 | $ | 96 | $ | 16,602 | $ | 292 | ||||||||||||||||||||||||
For the three months ended September 30, 2013 | For the nine months ended September 30, 2013 | |||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||
recorded | income | recorded | income | |||||||||||||||||||||||||||||
(In thousands) | investment | recognized | investment | recognized | ||||||||||||||||||||||||||||
Commercial real estate | $ | 11,676 | $ | 59 | $ | 4,556 | $ | 45 | ||||||||||||||||||||||||
Construction and land development | 4,047 | 18 | 10,779 | 129 | ||||||||||||||||||||||||||||
Commercial & industrial | 8,050 | 92 | 8,988 | 241 | ||||||||||||||||||||||||||||
Residential real estate | 523 | — | 580 | 27 | ||||||||||||||||||||||||||||
Leasing | 168 | — | 105 | — | ||||||||||||||||||||||||||||
Tax certificates | 433 | — | 509 | — | ||||||||||||||||||||||||||||
Total: | $ | 24,897 | $ | 169 | $ | 25,517 | $ | 442 | ||||||||||||||||||||||||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Other Real Estate Owned [Abstract] | ' | ||||||||||
Details of changes in other real estate owned | ' | ||||||||||
For the nine months ended September 30, 2014 | |||||||||||
(In thousands) | Loans | Tax Liens | Total | ||||||||
Beginning balance | $ | 1,725 | $ | 7,892 | $ | 9,617 | |||||
Net proceeds from sales | -1,214 | -2,334 | -3,548 | ||||||||
Net gains on sales | 22 | 611 | 633 | ||||||||
Transfers in | — | 1,998 | 1,998 | ||||||||
Cash additions | — | 1,292 | 1,292 | ||||||||
Impairment charge | -100 | -299 | -399 | ||||||||
Ending balance | $ | 433 | $ | 9,160 | $ | 9,593 | |||||
For the year ended December 31, 2013 | |||||||||||
(In thousands) | Loans | Tax Liens | Total | ||||||||
Beginning balance | $ | 11,365 | $ | 2,070 | $ | 13,435 | |||||
Net proceeds from sales | -8,869 | -3,910 | -12,779 | ||||||||
Net gain on sales | 228 | 1,199 | 1,427 | ||||||||
Transfers in | 100 | 8,951 | 9,051 | ||||||||
Cash additions | — | — | — | ||||||||
Impairment charge | -1,099 | -418 | -1,517 | ||||||||
Ending balance | $ | 1,725 | $ | 7,892 | $ | 9,617 | |||||
Deposits_Tables
Deposits (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Deposits [Abstract] | ' | |||||||
Deposits summary | ' | |||||||
September 30, | December 31, | |||||||
(In thousands) | 2014 | 2013 | ||||||
Demand | $ | 67,901 | $ | 60,473 | ||||
NOW | 41,801 | 45,375 | ||||||
Money Market | 162,177 | 164,678 | ||||||
Savings | 19,142 | 17,593 | ||||||
Time deposits (over $100) | 85,603 | 92,763 | ||||||
Time deposits (under $100) | 139,162 | 148,082 | ||||||
Total deposits | $ | 515,786 | $ | 528,964 | ||||
Borrowings_and_Subordinated_De1
Borrowings and Subordinated Debentures (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Borrowings and Subordinated Debentures [Abstract] | ' | |||||||||||
FHLB borrowings allocated by the year in which they mature with their corresponding weighted average rates | ' | |||||||||||
As of | As of | |||||||||||
30-Sep-14 | 31-Dec-13 | |||||||||||
(Dollars in thousands) | Amount | Rate | Amount | Rate | ||||||||
Advances maturing in | ||||||||||||
2014 | $ | — | — | % | $ | 10,000 | 0.24 | % | ||||
2015 | 10,000 | 0.71 | % | 10,000 | 0.71 | % | ||||||
2016 | 10,000 | 1.11 | % | 10,000 | 1.11 | % | ||||||
2017 | 25,000 | 1.46 | % | 25,000 | 1.46 | % | ||||||
2018 | 10,000 | 2.01 | % | 10,000 | 2.01 | % | ||||||
Total FHLB borrowings | $ | 55,000 | $ | 65,000 | ||||||||
Commitments_Contingencies_and_1
Commitments, Contingencies, and Concentrations (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Commitments, Contingencies, and Concentrations [Abstract] | ' | |||||||
Contracts of financial instruments represent credit risk | ' | |||||||
September 30, | December 31, | |||||||
(In thousands) | 2014 | 2013 | ||||||
Financial instruments whose contract amounts represent credit risk: | ||||||||
Open-end lines of credit | $ | 47,455 | $ | 21,182 | ||||
Commitments to extend credit | 6,430 | 200 | ||||||
Standby letters of credit and financial guarantees written | 847 | 2,679 | ||||||
Regulatory_Capital_Requirement1
Regulatory Capital Requirements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | ||||||||||||||||
Royal Bank's capital ratios | ' | ||||||||||||||||
At September 30, 2014 | |||||||||||||||||
To be well capitalized | |||||||||||||||||
For capital | under prompt corrective | ||||||||||||||||
Actual | adequacy purposes | action provision | |||||||||||||||
(Dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||
Total capital (to risk-weighted assets) | $ | 76,403 | 15.99 | % | $ | 38,237 | 8.00 | % | $ | 47,796 | 10.00 | % | |||||
Tier I capital (to risk-weighted assets) | $ | 70,970 | 14.85 | % | $ | 19,118 | 4.00 | % | $ | 28,677 | 6.00 | % | |||||
Tier I capital (to average assets, leverage) | $ | 70,970 | 9.96 | % | $ | 28,492 | 4.00 | % | $ | 35,615 | 5.00 | % | |||||
Adjustments to net loss as well as the capital ratios | ' | ||||||||||||||||
For the nine | |||||||||||||||||
months ended | |||||||||||||||||
(In thousands) | 30-Sep-14 | ||||||||||||||||
RAP net income | $ | 682 | |||||||||||||||
Tax lien adjustment, net of noncontrolling interest | 3,556 | ||||||||||||||||
U.S. GAAP net income | $ | 4,238 | |||||||||||||||
At September 30, 2014 | |||||||||||||||||
As reported | As adjusted | ||||||||||||||||
under RAP | for U.S. GAAP | ||||||||||||||||
Total capital (to risk-weighted assets) | 15.99 | % | 16.61 | % | |||||||||||||
Tier I capital (to risk-weighted assets) | 14.85 | % | 15.49 | % | |||||||||||||
Tier I capital (to average assets, leverage) | 9.96 | % | 10.42 | % | |||||||||||||
Company capital ratios | ' | ||||||||||||||||
At September 30, 2014 | |||||||||||||||||
To be well capitalized | |||||||||||||||||
For capital | under prompt corrective | ||||||||||||||||
Actual | adequacy purposes | action provision | |||||||||||||||
(Dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||
Total capital (to risk-weighted assets) | $ | 94,205 | 19.37 | % | $ | 38,899 | 8.00 | % | N/A | N/A | |||||||
Tier I capital (to risk-weighted assets) | $ | 85,328 | 17.55 | % | $ | 19,449 | 4.00 | % | N/A | N/A | |||||||
Tier I capital (to average assets, leverage) | $ | 85,328 | 11.78 | % | $ | 28,975 | 4.00 | % | N/A | N/A | |||||||
Adjustment to Company's capital ratio under RAP | ' | ||||||||||||||||
For the nine | |||||||||||||||||
months ended | |||||||||||||||||
(In thousands) | 30-Sep-14 | ||||||||||||||||
U.S. GAAP net income | $ | 4,298 | |||||||||||||||
Tax lien adjustment, net of noncontrolling interest | -3,556 | ||||||||||||||||
RAP net income | $ | 742 | |||||||||||||||
At September 30, 2014 | |||||||||||||||||
As reported | As adjusted | ||||||||||||||||
under U.S. GAAP | for RAP | ||||||||||||||||
Total capital (to risk-weighted assets) | 19.37 | % | 18.78 | % | |||||||||||||
Tier I capital (to risk-weighted assets) | 17.55 | % | 16.68 | % | |||||||||||||
Tier I capital (to average assets, leverage) | 11.78 | % | 11.17 | % | |||||||||||||
Pension_Plan_Tables
Pension Plan (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Pension Plan [Abstract] | ' | |||||||||||||
Components of Net Pension Cost | ' | |||||||||||||
Three months ended | Nine months ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||
Service cost | $ | 15 | $ | 19 | $ | 45 | $ | 56 | ||||||
Interest cost | 155 | 133 | 466 | 399 | ||||||||||
Amortization of prior service cost | 22 | 22 | 66 | 67 | ||||||||||
Amortization of actuarial loss | 32 | 122 | 96 | 367 | ||||||||||
Net periodic benefit cost | $ | 224 | $ | 296 | $ | 673 | $ | 889 | ||||||
Earnings_Loss_Per_Common_Share1
Earnings (Loss) Per Common Share (Tables) | 9 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Income (Loss) Per Common Share [Abstract] | ' | |||||||||
Schedule of computation of basic and diluted earning per share | ' | |||||||||
Three months ended September 30, 2014 | ||||||||||
Income | Average shares | Per share | ||||||||
(In thousands, except for per share data) | (numerator) | (denominator) | Amount | |||||||
Basic and Diluted EPS | ||||||||||
Income available to common shareholders | $ | 1,271 | 27,329 | $ | 0.05 | |||||
Three months ended September 30, 2013 | ||||||||||
Loss | Average shares | Per share | ||||||||
(In thousands, except for per share data) | (numerator) | (denominator) | Amount | |||||||
Basic and Diluted EPS | ||||||||||
Loss available to common shareholders | $ | -178 | 13,286 | $ | -0.01 | |||||
Nine months ended September 30, 2014 | ||||||||||
Income | Average shares | Per share | ||||||||
(In thousands, except for per share data) | (numerator) | (denominator) | Amount | |||||||
Basic and Diluted EPS | ||||||||||
Income available to common shareholders | $ | 2,654 | 18,042 | $ | 0.15 | |||||
Nine months ended September 30, 2013 | ||||||||||
Loss | Average shares | Per share | ||||||||
(In thousands, except for per share data) | (numerator) | (denominator) | Amount | |||||||
Basic and Diluted EPS | ||||||||||
Loss available to common shareholders | $ | -1,896 | 13,272 | $ | -0.14 | |||||
Comprehensive_Income_Loss_Tabl
Comprehensive Income (Loss) (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Comprehensive Income (Loss) [Abstract] | ' | ||||||||||
Comprehensive Income (Loss) [Abstract] | ' | ||||||||||
Nine months ended September 30, 2014 | |||||||||||
Tax | |||||||||||
Before tax | expense | Net of tax | |||||||||
(In thousands) | amount | (benefit) | amount | ||||||||
Unrealized gains on investment securities: | |||||||||||
Unrealized holding gains arising during period | $ | 6,570 | $ | 2,101 | $ | 4,469 | |||||
Less reclassification adjustment for gains | |||||||||||
realized in net income | 330 | 112 | 218 | ||||||||
Unrealized gains on investment securities | 6,240 | 1,989 | 4,251 | ||||||||
Unrecognized benefit obligation expense: | |||||||||||
Less reclassification adjustment for amortization | -85 | -29 | -56 | ||||||||
Other comprehensive income, net | $ | 6,325 | $ | 2,018 | $ | 4,307 | |||||
Nine months ended September 30, 2013 | |||||||||||
Tax | |||||||||||
Before tax | expense | Net of tax | |||||||||
(In thousands) | amount | (benefit) | amount | ||||||||
Unrealized losses on investment securities: | |||||||||||
Unrealized holding losses arising during period | $ | -8,833 | $ | -3,128 | $ | -5,705 | |||||
Less reclassification adjustment for gains | |||||||||||
realized in net loss | 69 | 23 | 46 | ||||||||
Unrealized losses on investment securities | -8,902 | -3,151 | -5,751 | ||||||||
Unrecognized benefit obligation expense: | |||||||||||
Less reclassification adjustment for amortization | -429 | -146 | -283 | ||||||||
Other comprehensive loss, net | $ | -8,473 | $ | -3,005 | $ | -5,468 | |||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||
Schedule of Financial Assets Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
As of September 30, 2014 | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||
Investment securities available-for-sale | |||||||||||||||||
U.S. government agencies | $ | — | $ | 32,541 | $ | — | $ | 32,541 | |||||||||
Mortgage-backed securities-residential | — | 27,127 | — | 27,127 | |||||||||||||
Collateralized mortgage obligations: | |||||||||||||||||
Issued or guaranteed by U.S. government agencies | — | 172,684 | — | 172,684 | |||||||||||||
Non-agency | — | 3,938 | — | 3,938 | |||||||||||||
Corporate bonds | — | 15,633 | — | 15,633 | |||||||||||||
Municipal bonds | — | 9,027 | — | 9,027 | |||||||||||||
Other securities | — | — | 4,390 | 4,390 | |||||||||||||
Common stocks | 50 | — | — | 50 | |||||||||||||
Total investment securities available-for-sale | $ | 50 | $ | 260,950 | $ | 4,390 | $ | 265,390 | |||||||||
Fair Value Measurements Using: | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
As of December 31, 2013 | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||
Investment securities available-for-sale | |||||||||||||||||
U.S. government agencies | $ | — | $ | 62,036 | $ | — | $ | 62,036 | |||||||||
Mortgage-backed securities-residential | — | 32,097 | — | 32,097 | |||||||||||||
Collateralized mortgage obligations: | |||||||||||||||||
Issued or guaranteed by U.S. government agencies | — | 189,103 | — | 189,103 | |||||||||||||
Non-agency | — | 4,479 | — | 4,479 | |||||||||||||
Corporate bonds | — | 9,438 | — | 9,438 | |||||||||||||
Municipal bonds | — | 6,900 | — | 6,900 | |||||||||||||
Other securities | — | — | 4,625 | 4,625 | |||||||||||||
Common stocks | 49 | — | — | 49 | |||||||||||||
Total investment securities available-for-sale | $ | 49 | $ | 304,053 | $ | 4,625 | $ | 308,727 | |||||||||
Additional Information About Assets Measured at Fair Value on a Recurring Basis, Level 3 Inputs | ' | ||||||||||||||||
(In thousands) | Other securities | ||||||||||||||||
Investment Securities Available for Sale | 2014 | 2013 | |||||||||||||||
Beginning balance January 1, | $ | 4,625 | $ | 4,164 | |||||||||||||
Total gains/(losses) - (realized/unrealized): | |||||||||||||||||
Included in earnings | 251 | 5 | |||||||||||||||
Included in other comprehensive income | 299 | 361 | |||||||||||||||
Purchases | 14 | 32 | |||||||||||||||
Sales and calls | -799 | -300 | |||||||||||||||
Transfers in and/or out of Level 3 | — | — | |||||||||||||||
Ending balance September 30, | $ | 4,390 | $ | 4,262 | |||||||||||||
Financial Assets Measured at Fair Value on Nonrecurring Basis | ' | ||||||||||||||||
Fair Value Measurements Using: | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
As of September 30, 2014 | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||
Assets | |||||||||||||||||
Impaired loans and leases | $ | — | $ | — | $ | 3,739 | $ | 3,739 | |||||||||
Other real estate owned | — | — | 2,624 | 2,624 | |||||||||||||
Loans and leases held for sale | — | — | 1,018 | 1,018 | |||||||||||||
Fair Value Measurements Using: | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
As of December 31, 2013 | Assets | Inputs | Inputs | ||||||||||||||
(In thousands) | Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||
Assets | |||||||||||||||||
Impaired loans and leases | $ | — | $ | — | $ | 4,073 | $ | 4,073 | |||||||||
Other real estate owned | — | — | 9,182 | 9,182 | |||||||||||||
Loans and leases held for sale | — | — | 1,446 | 1,446 | |||||||||||||
Schedule of quantitative information about assets measured at fair value on nonrecurring basis | ' | ||||||||||||||||
Qualitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
As of September 30, 2014 | Valuation | Range | |||||||||||||||
(In thousands) | Fair Value | Techniques | Unobservable Input | (Weighted Average) | |||||||||||||
Impaired loans and leases | $ | 3,739 | Appraisal of | Appraisal adjustments | 0.0% | - | -28.90% | (-20.9%) | |||||||||
collateral (1) | Liquidation expenses | 0.0% | - | -21.10% | (-7.5%) | ||||||||||||
Other real estate owned | 2,624 | Appraisal of | Appraisal adjustments | 0.0% | - | -69.70% | (-11.3%) | ||||||||||
collateral (1) | Liquidation expenses | -14.70% | (-14.7%) | ||||||||||||||
Loans and leases held for sale | 1,018 | Appraisal of | Agreement of sale | 0.0% | |||||||||||||
collateral (1) | |||||||||||||||||
Qualitative Information about Level 3 Fair Value Measurements | |||||||||||||||||
As of December 31, 2013 | Valuation | Range | |||||||||||||||
(In thousands) | Fair Value | Techniques | Unobservable Input | (Weighted Average) | |||||||||||||
Impaired loans and leases | $ | 4,073 | Appraisal of | Appraisal adjustments | 0.0% | - | -25.00% | (-2.0%) | |||||||||
collateral (1) | Liquidation expenses | 0.0% | - | -23.20% | (-6.7%) | ||||||||||||
Other real estate owned | 9,182 | Appraisal of | Appraisal adjustments | 0.0% | - | -62.50% | (-11.2%) | ||||||||||
collateral (1) | Liquidation expenses | -2.80% | - | -6.80% | (-5.0%) | ||||||||||||
Loans and leases held for sale | 1,446 | Appraisal of | Agreement of sale | 0.0% | |||||||||||||
collateral (1) | |||||||||||||||||
-1 | Appraisals may be adjusted for qualitative factors such as interior condition of the property and liquidation expenses. | ||||||||||||||||
Fair Value by Balance Sheet Grouping Instruments | ' | ||||||||||||||||
Fair Value Measurements | |||||||||||||||||
At September 30, 2014 | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Carrying | Estimated | Assets | Inputs | Inputs | |||||||||||||
(In thousands) | amount | fair value | Level 1 | Level 2 | Level 3 | ||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 21,933 | $ | 21,933 | $ | 21,933 | $ | — | $ | — | |||||||
Investment securities available-for-sale | 265,390 | 265,390 | 50 | 260,950 | 4,390 | ||||||||||||
Other investment | 2,250 | 2,250 | — | — | 2,250 | ||||||||||||
Federal Home Loan Bank stock | 3,678 | 3,678 | — | — | 3,678 | ||||||||||||
Loans held for sale | 1,018 | 1,018 | — | — | 1,018 | ||||||||||||
Loans, net | 385,694 | 383,088 | — | — | 383,088 | ||||||||||||
Accrued interest receivable | 5,554 | 5,554 | — | 5,554 | — | ||||||||||||
Financial Liabilities: | |||||||||||||||||
Demand deposits | 67,901 | 67,901 | — | 67,901 | — | ||||||||||||
NOW and money markets | 203,978 | 203,978 | — | 203,978 | — | ||||||||||||
Savings | 19,142 | 19,142 | — | 19,142 | — | ||||||||||||
Time deposits | 224,765 | 223,270 | — | 223,270 | — | ||||||||||||
Long-term borrowings | 97,540 | 94,885 | — | 94,885 | — | ||||||||||||
Subordinated debt | 25,774 | 24,209 | — | 24,209 | — | ||||||||||||
Accrued interest payable | 2,305 | 2,305 | — | 2,305 | — | ||||||||||||
Fair Value Measurements | |||||||||||||||||
At December 31, 2013 | |||||||||||||||||
Quoted Prices | |||||||||||||||||
in Active | Significant | ||||||||||||||||
Markets for | Other | Significant | |||||||||||||||
Identical | Observable | Unobservable | |||||||||||||||
Carrying | Estimated | Assets | Inputs | Inputs | |||||||||||||
(In thousands) | amount | fair value | Level 1 | Level 2 | Level 3 | ||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 16,844 | $ | 16,844 | $ | 16,844 | $ | — | $ | — | |||||||
Investment securities available-for-sale | 308,727 | 308,727 | 49 | 304,053 | 4,625 | ||||||||||||
Other investment | 2,250 | 2,250 | — | — | 2,250 | ||||||||||||
Federal Home Loan Bank stock | 4,204 | 4,204 | — | — | 4,204 | ||||||||||||
Loans held for sale | 1,446 | 1,446 | — | — | 1,446 | ||||||||||||
Loans, net | 352,810 | 349,336 | — | — | 349,336 | ||||||||||||
Accrued interest receivable | 7,054 | 7,054 | — | 7,054 | — | ||||||||||||
Financial Liabilities: | |||||||||||||||||
Demand deposits | 60,473 | 60,473 | — | 60,473 | — | ||||||||||||
NOW and money markets | 210,053 | 210,053 | — | 210,053 | — | ||||||||||||
Savings | 17,593 | 17,593 | — | 17,593 | — | ||||||||||||
Time deposits | 240,845 | 239,102 | — | 239,102 | — | ||||||||||||
Short-term borrowings | 10,000 | 10,000 | 10,000 | — | — | ||||||||||||
Long-term borrowings | 97,881 | 94,896 | — | 94,896 | — | ||||||||||||
Subordinated debt | 25,774 | 26,000 | — | 26,000 | — | ||||||||||||
Accrued interest payable | 965 | 965 | — | 965 | — | ||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Segment Information [Abstract] | ' | ||||||||||
Selected segment information and reconciliations to consolidated financial information | ' | ||||||||||
Three months ended September 30, 2014 | |||||||||||
Community | |||||||||||
(In thousands) | Banking | Tax Liens | Consolidated | ||||||||
Total assets | $ | 701,803 | $ | 21,666 | $ | 723,469 | |||||
Total deposits | $ | 515,786 | $ | — | $ | 515,786 | |||||
Interest income | $ | 6,889 | $ | 302 | $ | 7,191 | |||||
Interest expense | 1,367 | 256 | 1,623 | ||||||||
Net interest income | $ | 5,522 | $ | 46 | $ | 5,568 | |||||
(Credit) provision for loan and lease losses | -79 | 28 | -51 | ||||||||
Total non-interest income | 987 | 217 | 1,204 | ||||||||
Total non-interest expense | 4,916 | 459 | 5,375 | ||||||||
Income tax expense (benefit) | — | — | — | ||||||||
Net income (loss) | $ | 1,672 | $ | -224 | $ | 1,448 | |||||
Noncontrolling interest | $ | 69 | $ | -44 | $ | 25 | |||||
Net income (loss) attributable to Royal Bancshares | $ | 1,603 | $ | -180 | $ | 1,423 | |||||
Three months ended September 30, 2013 | |||||||||||
Community | |||||||||||
(In thousands) | Banking | Tax Liens | Consolidated | ||||||||
Total assets | $ | 708,864 | $ | 28,136 | $ | 737,000 | |||||
Total deposits | $ | 522,620 | $ | — | $ | 522,620 | |||||
Interest income | $ | 6,485 | $ | 475 | $ | 6,960 | |||||
Interest expense | 1,560 | 330 | 1,890 | ||||||||
Net interest income | $ | 4,925 | $ | 145 | $ | 5,070 | |||||
Provision for loan and lease losses | 178 | 40 | 218 | ||||||||
Total non-interest income | 1,344 | 593 | 1,937 | ||||||||
Total non-interest expense | 5,683 | 607 | 6,290 | ||||||||
Income tax expense (benefit) | — | — | — | ||||||||
Net income | $ | 408 | $ | 91 | $ | 499 | |||||
Noncontrolling interest | $ | 121 | $ | 36 | $ | 157 | |||||
Net income attributable to Royal Bancshares | $ | 287 | $ | 55 | $ | 342 | |||||
Nine months ended September 30, 2014 | |||||||||||
Community | |||||||||||
(In thousands) | Banking | Tax Liens | Consolidated | ||||||||
Total assets | $ | 701,803 | $ | 21,666 | $ | 723,469 | |||||
Total deposits | $ | 515,786 | $ | — | $ | 515,786 | |||||
Interest income | $ | 20,549 | $ | 1,002 | $ | 21,551 | |||||
Interest expense | 4,030 | 840 | 4,870 | ||||||||
Net interest income | $ | 16,519 | $ | 162 | $ | 16,681 | |||||
(Credit) provision for loan and lease losses | -911 | 146 | -765 | ||||||||
Total non-interest income | 2,019 | 773 | 2,792 | ||||||||
Total non-interest expense | 14,221 | 1,507 | 15,728 | ||||||||
Income tax expense (benefit) | — | — | — | ||||||||
Net income (loss) | $ | 5,228 | $ | -718 | $ | 4,510 | |||||
Noncontrolling interest | $ | 337 | $ | -125 | $ | 212 | |||||
Net income (loss) attributable to Royal Bancshares | $ | 4,891 | $ | -593 | $ | 4,298 | |||||
Nine months ended September 30, 2013 | |||||||||||
Community | |||||||||||
(In thousands) | Banking | Tax Liens | Consolidated | ||||||||
Total assets | $ | 708,864 | $ | 28,136 | $ | 737,000 | |||||
Total deposits | $ | 522,620 | $ | — | $ | 522,620 | |||||
Interest income | $ | 18,556 | $ | 1,899 | $ | 20,455 | |||||
Interest expense | 4,525 | 1,142 | 5,667 | ||||||||
Net interest income | $ | 14,031 | $ | 757 | $ | 14,788 | |||||
(Credit) provision for loan and lease losses | -563 | 367 | -196 | ||||||||
Total non-interest income | 3,056 | 1,250 | 4,306 | ||||||||
Total non-interest expense | 16,348 | 3,649 | 19,997 | ||||||||
Income tax expense (benefit) | — | — | — | ||||||||
Net income (loss) | $ | 1,302 | $ | -2,009 | $ | -707 | |||||
Noncontrolling interest | $ | 422 | $ | -786 | $ | -364 | |||||
Net income (loss) attributable to Royal Bancshares | $ | 880 | $ | -1,223 | $ | -343 | |||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) | 9 Months Ended | ||||
Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | |
trust | Royal Bank [Member] | Royal Bank [Member] | Royal Bank [Member] | Royal Bank [Member] | |
Crusader Servicing Corporation [Member] | Crusader Servicing Corporation [Member] | Royal Tax Lien [Member] | Royal Bank America Leasing LP | ||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ' | ' | ' | ' | ' |
Ownership interest (as a percent) | 60.00% | 80.00% | 60.00% | 60.00% | 60.00% |
Number of Delaware trust affiliates | 2 | ' | ' | ' | ' |
Regulatory_Matters_and_Signifi1
Regulatory Matters and Significant Risks or Uncertainties (Details) | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2011 | |
item | Royal Bank [Member] | Royal Bank [Member] | |
Federal Deposit Insurance Corporation and Department of Banking Orders [Abstract] | ' | ' | ' |
Minimum Tier one leverage ratio required (as a percent) | ' | 8.00% | 8.00% |
Minimum total capital to risk weighted assets ratio required (as a percent) | ' | ' | 12.00% |
Tier I capital (to average assets, leverage) (as a percent) | ' | 9.96% | ' |
Total capital (to risk-weighted assets) (as a percent) | ' | 15.99% | ' |
Number of MOU | 2 | ' | ' |
Net_Income_Details
Net Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Significant Losses [Abstract] | ' | ' | ' | ' | ' |
Period of continued significant losses in calendar years | ' | ' | ' | ' | '5 years |
Net income | $1,423,000 | $342,000 | $4,298,000 | ($343,000) | ' |
Increase (decrease) in net interest income | 498,000 | ' | 1,900,000 | ' | ' |
Increase (decrease) in professional and legal fees | ' | ' | -475,000 | ' | ' |
Increase (decrease) in salaries and benefits | ' | ' | -493,000 | ' | ' |
Increase (decrease) in credit related expense | -750,000 | ' | -1,200,000 | ' | ' |
Increase (decrease) in provision for loan and lease losses | ' | ' | -569,000 | ' | ' |
Loss contingency | ' | ' | ' | 1,650,000 | ' |
Ownership interest (as a percent) | 60.00% | ' | 60.00% | ' | ' |
Loss contingency attributable to parent, pre-tax | ' | 990,000 | ' | ' | ' |
Increase (decrease) in net gains on sales of premises and equipment | ' | ' | -1,100,000 | ' | ' |
Increase (decrease) in occupancy and equipment expenses | ' | ' | 576,000 | ' | ' |
Royal Bank [Member] | ' | ' | ' | ' | ' |
Significant Losses [Abstract] | ' | ' | ' | ' | ' |
Net income | ' | ' | $4,238,000 | ' | ' |
Credit_Quality_Details
Credit Quality (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' |
Non performing loans, charge offs | $271,000 | $837,000 | $1,699,000 | $3,079,000 | $3,893,000 |
Royal Bank [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' |
Net classified loans and foreclosed property | 37,700,000 | ' | 37,700,000 | ' | 61,400,000 |
Royal Bank [Member] | Nonperforming Financing Receivable [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' |
Delinquent loans held for investment | $445,000,000,000 | ' | $445,000,000,000 | ' | $2,600,000 |
Liquidity_and_Funds_Management
Liquidity and Funds Management (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Short-term Debt [Line Items] | ' | ' |
Unfunded pension plan obligations | $14.30 | $14.50 |
Royal Bank [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Available borrowing capacity at the federal home loan bank | 180 | ' |
Borrowings | 97.5 | 107.9 |
Line of credit maximum borrowing capacity | 10 | ' |
Liquidity to deposits ratio (as a percent) | 67.90% | ' |
Liquidity to deposits policy target (as a percent) | 12.00% | ' |
Liquidity to total liabilities ratio (as a percent) | 53.50% | ' |
Liquidity to liabilities policy target (as a percent) | 10.00% | ' |
Royal Bank [Member] | Federal Reserve Bank Advances [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Unpledged agency securities were available to be pledged as collateral | $5.70 | ' |
Dividend_and_Interest_Restrict
Dividend and Interest Restrictions (Details) (USD $) | Sep. 30, 2014 | Jun. 20, 2014 | Dec. 31, 2013 | Jun. 20, 2014 | Sep. 30, 2014 | Jul. 02, 2014 | Jun. 20, 2014 | Feb. 20, 2009 |
item | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | |||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Trust preferred securities with suspended interest payments | $25,774,000 | ' | $25,774,000 | ' | ' | ' | ' | ' |
Preferred stock dividend in arrears | ' | ' | ' | ' | 6,100,000 | ' | ' | ' |
Amount approved | ' | ' | ' | ' | 14,000,000 | ' | ' | ' |
Number of institutions under priced auction | ' | 6 | ' | ' | ' | ' | ' | ' |
Preferred stock, shares issued (in shares) | ' | ' | ' | ' | ' | ' | ' | 30,407 |
Auction price (in dollars per share) | ' | ' | ' | ' | ' | ' | $1,207.11 | ' |
Shares allocated for repurchase (in shares) | ' | ' | ' | 11,551 | ' | ' | ' | ' |
Dividends in arrears eliminated | ' | ' | ' | ' | ' | $6,100,000 | ' | ' |
Capital_Adequacy_Details
Capital Adequacy (Details) (Royal Bank [Member]) | 9 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2011 | |
item | ||
Royal Bank [Member] | ' | ' |
Capital Adequacy [Abstract] | ' | ' |
Number of previous quarters for which Call Report was filed | 16 | ' |
Minimum Tier one leverage ratio required (as a percent) | 8.00% | 8.00% |
Minimum total capital to risk weighted assets ratio required (as a percent) | ' | 12.00% |
Tier I capital (to average assets, leverage) (as a percent) | 9.96% | ' |
Total capital (to risk-weighted assets) (as a percent) | 15.99% | ' |
Company_Plans_and_Strategy_Det
Company Plans and Strategy (Details) | 12 Months Ended |
Dec. 31, 2013 | |
item | |
Company Plans and Strategy [Abstract] | ' |
Reduction in workforce (in hundredths) | 22.00% |
Number of branches consolidated under rationalization | 2 |
Number of buildings sold under rationalization | 4 |
Investment_Securities_Details
Investment Securities (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Carrying value and fair value of available for sale investment securities [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | $264,275,000 | ' | $264,275,000 | ' | $313,852,000 |
Gross unrealized gains | 4,638,000 | ' | 4,638,000 | ' | 4,568,000 |
Gross unrealized losses | -3,523,000 | ' | -3,523,000 | ' | -9,693,000 |
Investment securities available-for-sale (bAFSb), at fair value | 265,390,000 | ' | 265,390,000 | ' | 308,727,000 |
Amortized cost [Abstract] | ' | ' | ' | ' | ' |
Within 1 year | 2,003,000 | ' | 2,003,000 | ' | ' |
After 1 but within 5 years | 10,345,000 | ' | 10,345,000 | ' | ' |
After 5 but within 10 years | 29,322,000 | ' | 29,322,000 | ' | ' |
After 10 years | 17,082,000 | ' | 17,082,000 | ' | ' |
Total available for sale debt securities | 261,413,000 | ' | 261,413,000 | ' | ' |
No contractual maturity | 2,862,000 | ' | 2,862,000 | ' | ' |
Total available for sale securities | 264,275,000 | ' | 264,275,000 | ' | 313,852,000 |
Fair value [Abstract] | ' | ' | ' | ' | ' |
Within 1 year | 1,987,000 | ' | 1,987,000 | ' | ' |
After 1 but within 5 years | 10,324,000 | ' | 10,324,000 | ' | ' |
After 5 but within 10 years | 28,653,000 | ' | 28,653,000 | ' | ' |
After 10 years | 16,237,000 | ' | 16,237,000 | ' | ' |
Total available for sale debt securities | 260,950,000 | ' | 260,950,000 | ' | ' |
No contractual maturity | 4,440,000 | ' | 4,440,000 | ' | ' |
Fair value | 265,390,000 | ' | 265,390,000 | ' | 308,727,000 |
Proceeds from sales of AFS investment securities | 19,300,000 | ' | 55,290,000 | 20,428,000 | ' |
Gross realized gains and losses on the sale of securities recognized in earnings [Abstract] | ' | ' | ' | ' | ' |
Gross realized gains | 446,000 | ' | 1,143,000 | 181,000 | ' |
Gross realized losses | -208,000 | -1,000 | -813,000 | -112,000 | ' |
Net realized gains | 238,000 | -1,000 | 330,000 | 69,000 | ' |
Available for sale securities, continuous unrealized loss position [Abstract] | ' | ' | ' | ' | ' |
Less than 12 months, Fair value | 68,093,000 | ' | 68,093,000 | ' | 142,071,000 |
12 months or longer, Fair value | 83,668,000 | ' | 83,668,000 | ' | 33,664,000 |
Total, Fair value | 151,761,000 | ' | 151,761,000 | ' | 175,735,000 |
Less than 12 months, Gross unrealized losses | -519,000 | ' | -519,000 | ' | -7,322,000 |
12 months or longer, Gross unrealized losses | -3,004,000 | ' | -3,004,000 | ' | -2,371,000 |
Total, Gross unrealized losses | -3,523,000 | ' | -3,523,000 | ' | -9,693,000 |
Credit related impairment losses on debt securities held for which a portion of OTTI was recognized in other comprehensive income [Roll Forward] | ' | ' | ' | ' | ' |
Balance at beginning of year | ' | ' | ' | 173,000 | ' |
Reductions for securities sold during the period (realized) | ' | ' | ' | -173,000 | ' |
U.S. Government Agencies [Member] | ' | ' | ' | ' | ' |
Carrying value and fair value of available for sale investment securities [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 34,092,000 | ' | 34,092,000 | ' | 68,207,000 |
Gross unrealized losses | -1,551,000 | ' | -1,551,000 | ' | -6,171,000 |
Investment securities available-for-sale (bAFSb), at fair value | 32,541,000 | ' | 32,541,000 | ' | 62,036,000 |
Amortized cost [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 34,092,000 | ' | 34,092,000 | ' | 68,207,000 |
Fair value [Abstract] | ' | ' | ' | ' | ' |
Fair value | 32,541,000 | ' | 32,541,000 | ' | 62,036,000 |
Available for sale securities, continuous unrealized loss position [Abstract] | ' | ' | ' | ' | ' |
Less than 12 months, Fair value | ' | ' | ' | ' | 48,919,000 |
12 months or longer, Fair value | 32,541,000 | ' | 32,541,000 | ' | 12,267,000 |
Total, Fair value | 32,541,000 | ' | 32,541,000 | ' | 61,186,000 |
Less than 12 months, Gross unrealized losses | ' | ' | ' | ' | -5,035,000 |
12 months or longer, Gross unrealized losses | -1,551,000 | ' | -1,551,000 | ' | -1,136,000 |
Total, Gross unrealized losses | -1,551,000 | ' | -1,551,000 | ' | -6,171,000 |
Number of investment securities | 10 | ' | 10 | ' | ' |
Number of securities in an unrealized loss position for more than twelve months | 10 | ' | 10 | ' | ' |
Mortgage-backed Securities-residential [Member] | ' | ' | ' | ' | ' |
Carrying value and fair value of available for sale investment securities [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 27,000,000 | ' | 27,000,000 | ' | 32,769,000 |
Gross unrealized gains | 377,000 | ' | 377,000 | ' | 210,000 |
Gross unrealized losses | -250,000 | ' | -250,000 | ' | -882,000 |
Investment securities available-for-sale (bAFSb), at fair value | 27,127,000 | ' | 27,127,000 | ' | 32,097,000 |
Amortized cost [Abstract] | ' | ' | ' | ' | ' |
No contractual maturity | 27,000,000 | ' | 27,000,000 | ' | ' |
Total available for sale securities | 27,000,000 | ' | 27,000,000 | ' | 32,769,000 |
Fair value [Abstract] | ' | ' | ' | ' | ' |
No contractual maturity | 27,127,000 | ' | 27,127,000 | ' | ' |
Fair value | 27,127,000 | ' | 27,127,000 | ' | 32,097,000 |
Available for sale securities, continuous unrealized loss position [Abstract] | ' | ' | ' | ' | ' |
Less than 12 months, Fair value | 7,619,000 | ' | 7,619,000 | ' | 18,045,000 |
12 months or longer, Fair value | 9,017,000 | ' | 9,017,000 | ' | 6,276,000 |
Total, Fair value | 16,636,000 | ' | 16,636,000 | ' | 24,321,000 |
Less than 12 months, Gross unrealized losses | -38,000 | ' | -38,000 | ' | -518,000 |
12 months or longer, Gross unrealized losses | -212,000 | ' | -212,000 | ' | -364,000 |
Total, Gross unrealized losses | -250,000 | ' | -250,000 | ' | -882,000 |
Number of investment securities | 6 | ' | 6 | ' | ' |
Number of securities in an unrealized loss position for more than twelve months | 3 | ' | 3 | ' | ' |
Collateralized Mortgage Obligations, Issued or Guaranteed by U.S. Government Agencies [Member] | ' | ' | ' | ' | ' |
Carrying value and fair value of available for sale investment securities [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 171,696,000 | ' | 171,696,000 | ' | 188,194,000 |
Gross unrealized gains | 2,521,000 | ' | 2,521,000 | ' | 2,887,000 |
Gross unrealized losses | -1,533,000 | ' | -1,533,000 | ' | -1,978,000 |
Investment securities available-for-sale (bAFSb), at fair value | 172,684,000 | ' | 172,684,000 | ' | 189,103,000 |
Amortized cost [Abstract] | ' | ' | ' | ' | ' |
No contractual maturity | 171,696,000 | ' | 171,696,000 | ' | ' |
Total available for sale securities | 171,696,000 | ' | 171,696,000 | ' | 188,194,000 |
Fair value [Abstract] | ' | ' | ' | ' | ' |
No contractual maturity | 172,684,000 | ' | 172,684,000 | ' | ' |
Fair value | 172,684,000 | ' | 172,684,000 | ' | 189,103,000 |
Available for sale securities, continuous unrealized loss position [Abstract] | ' | ' | ' | ' | ' |
Less than 12 months, Fair value | 49,360,000 | ' | 49,360,000 | ' | 67,240,000 |
12 months or longer, Fair value | 37,312,000 | ' | 37,312,000 | ' | 9,974,000 |
Total, Fair value | 86,672,000 | ' | 86,672,000 | ' | 77,214,000 |
Less than 12 months, Gross unrealized losses | -376,000 | ' | -376,000 | ' | -1,446,000 |
12 months or longer, Gross unrealized losses | -1,157,000 | ' | -1,157,000 | ' | -532,000 |
Total, Gross unrealized losses | -1,533,000 | ' | -1,533,000 | ' | -1,978,000 |
Number of investment securities | 28 | ' | 28 | ' | ' |
Number of securities in an unrealized loss position for less than twelve months | 17 | ' | 17 | ' | ' |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' | ' | ' | ' |
Carrying value and fair value of available for sale investment securities [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 3,965,000 | ' | 3,965,000 | ' | 4,454,000 |
Gross unrealized gains | 7,000 | ' | 7,000 | ' | 25,000 |
Gross unrealized losses | -34,000 | ' | -34,000 | ' | ' |
Investment securities available-for-sale (bAFSb), at fair value | 3,938,000 | ' | 3,938,000 | ' | 4,479,000 |
Amortized cost [Abstract] | ' | ' | ' | ' | ' |
Total available for sale debt securities | 3,965,000 | ' | 3,965,000 | ' | ' |
Total available for sale securities | 3,965,000 | ' | 3,965,000 | ' | 4,454,000 |
Fair value [Abstract] | ' | ' | ' | ' | ' |
No contractual maturity | 3,938,000 | ' | 3,938,000 | ' | ' |
Fair value | 3,938,000 | ' | 3,938,000 | ' | 4,479,000 |
Available for sale securities, continuous unrealized loss position [Abstract] | ' | ' | ' | ' | ' |
Less than 12 months, Fair value | 1,464,000 | ' | 1,464,000 | ' | ' |
Total, Fair value | 1,464,000 | ' | 1,464,000 | ' | ' |
Less than 12 months, Gross unrealized losses | -34,000 | ' | -34,000 | ' | ' |
Total, Gross unrealized losses | -34,000 | ' | -34,000 | ' | ' |
Number of securities with unrealized gains | 1 | ' | 1 | ' | ' |
Corporate Bonds [Member] | ' | ' | ' | ' | ' |
Carrying value and fair value of available for sale investment securities [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 15,630,000 | ' | 15,630,000 | ' | 9,669,000 |
Gross unrealized gains | 68,000 | ' | 68,000 | ' | 25,000 |
Gross unrealized losses | -65,000 | ' | -65,000 | ' | -256,000 |
Investment securities available-for-sale (bAFSb), at fair value | 15,633,000 | ' | 15,633,000 | ' | 9,438,000 |
Amortized cost [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 15,630,000 | ' | 15,630,000 | ' | 9,669,000 |
Fair value [Abstract] | ' | ' | ' | ' | ' |
Fair value | 15,633,000 | ' | 15,633,000 | ' | 9,438,000 |
Available for sale securities, continuous unrealized loss position [Abstract] | ' | ' | ' | ' | ' |
Less than 12 months, Fair value | 9,027,000 | ' | 9,027,000 | ' | 4,848,000 |
12 months or longer, Fair value | 991,000 | ' | 991,000 | ' | 965,000 |
Total, Fair value | 10,018,000 | ' | 10,018,000 | ' | 5,813,000 |
Less than 12 months, Gross unrealized losses | -56,000 | ' | -56,000 | ' | -221,000 |
12 months or longer, Gross unrealized losses | -9,000 | ' | -9,000 | ' | -35,000 |
Total, Gross unrealized losses | -65,000 | ' | -65,000 | ' | -256,000 |
Number of investment securities | 7 | ' | 7 | ' | ' |
Number of securities in an unrealized loss position for less than twelve months | 6 | ' | 6 | ' | ' |
Number of securities in an unrealized loss position for more than twelve months | 1 | ' | 1 | ' | ' |
Number of securities considered not to be other than temporarily impaired | 7 | ' | 7 | ' | ' |
Municipal Bonds [Member] | ' | ' | ' | ' | ' |
Carrying value and fair value of available for sale investment securities [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 9,030,000 | ' | 9,030,000 | ' | 7,163,000 |
Gross unrealized gains | 51,000 | ' | 51,000 | ' | ' |
Gross unrealized losses | -54,000 | ' | -54,000 | ' | -263,000 |
Investment securities available-for-sale (bAFSb), at fair value | 9,027,000 | ' | 9,027,000 | ' | 6,900,000 |
Amortized cost [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 9,030,000 | ' | 9,030,000 | ' | 7,163,000 |
Fair value [Abstract] | ' | ' | ' | ' | ' |
Fair value | 9,027,000 | ' | 9,027,000 | ' | 6,900,000 |
Available for sale securities, continuous unrealized loss position [Abstract] | ' | ' | ' | ' | ' |
Less than 12 months, Fair value | 623,000 | ' | 623,000 | ' | 3,019,000 |
12 months or longer, Fair value | 3,539,000 | ' | 3,539,000 | ' | 3,881,000 |
Total, Fair value | 4,162,000 | ' | 4,162,000 | ' | 6,900,000 |
Less than 12 months, Gross unrealized losses | -15,000 | ' | -15,000 | ' | -102,000 |
12 months or longer, Gross unrealized losses | -39,000 | ' | -39,000 | ' | -161,000 |
Total, Gross unrealized losses | -54,000 | ' | -54,000 | ' | -263,000 |
Number of investment securities | 5 | ' | 5 | ' | ' |
Number of securities in an unrealized loss position for less than twelve months | 1 | ' | 1 | ' | ' |
Number of securities in an unrealized loss position for more than twelve months | 4 | ' | 4 | ' | ' |
Private Equity Funds [Member] | ' | ' | ' | ' | ' |
Carrying value and fair value of available for sale investment securities [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 2,829,000 | ' | 2,829,000 | ' | 3,363,000 |
Gross unrealized gains | 1,597,000 | ' | 1,597,000 | ' | 1,405,000 |
Gross unrealized losses | -36,000 | ' | -36,000 | ' | -143,000 |
Investment securities available-for-sale (bAFSb), at fair value | 4,390,000 | ' | 4,390,000 | ' | 4,625,000 |
Amortized cost [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 2,829,000 | ' | 2,829,000 | ' | 3,363,000 |
Fair value [Abstract] | ' | ' | ' | ' | ' |
Fair value | 4,390,000 | ' | 4,390,000 | ' | 4,625,000 |
Available for sale securities, continuous unrealized loss position [Abstract] | ' | ' | ' | ' | ' |
12 months or longer, Fair value | 268,000 | ' | 268,000 | ' | 301,000 |
Total, Fair value | 268,000 | ' | 268,000 | ' | 301,000 |
12 months or longer, Gross unrealized losses | -36,000 | ' | -36,000 | ' | -143,000 |
Total, Gross unrealized losses | -36,000 | ' | -36,000 | ' | -143,000 |
Number of securities invested in real estate funds | 6 | ' | 6 | ' | ' |
Number of securities recording an impairment charge | 1 | ' | 1 | ' | ' |
Common Stock [Member] | ' | ' | ' | ' | ' |
Carrying value and fair value of available for sale investment securities [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 33,000 | ' | 33,000 | ' | 33,000 |
Gross unrealized gains | 17,000 | ' | 17,000 | ' | 16,000 |
Investment securities available-for-sale (bAFSb), at fair value | 50,000 | ' | 50,000 | ' | 49,000 |
Amortized cost [Abstract] | ' | ' | ' | ' | ' |
Total available for sale securities | 33,000 | ' | 33,000 | ' | 33,000 |
Fair value [Abstract] | ' | ' | ' | ' | ' |
Fair value | $50,000 | ' | $50,000 | ' | $49,000 |
Available for sale securities, continuous unrealized loss position [Abstract] | ' | ' | ' | ' | ' |
Number of investment securities | 2 | ' | 2 | ' | ' |
Loans_and_Leases_Major_classif
Loans and Leases - Major classifications of LHFI (Details) (USD $) | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Major classifications of loans held for investment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | $397,176,000 | $377,329,000 | $366,481,000 |
Loans and leases held for sale ("LHFS") | 1,018,000 | ' | 1,446,000 |
Amount of loans transferred from non-accrual LHFI to LHFS | 3,200,000 | ' | ' |
Proceeds from sales of loans and leases | 3,838,000 | 4,042,000 | ' |
Commercial real estate [Member] | ' | ' | ' |
Major classifications of loans held for investment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 164,522,000 | 158,223,000 | 148,293,000 |
Construction and land development [Member] | ' | ' | ' |
Major classifications of loans held for investment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 41,676,000 | 39,594,000 | 45,261,000 |
Commercial and industrial [Member] | ' | ' | ' |
Major classifications of loans held for investment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 70,743,000 | 86,401,000 | 79,589,000 |
Multi-family [Member] | ' | ' | ' |
Major classifications of loans held for investment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 16,893,000 | 11,678,000 | 11,737,000 |
Residential real estate [Member] | ' | ' | ' |
Major classifications of loans held for investment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 44,261,000 | 24,830,000 | 25,535,000 |
Leases [Member] | ' | ' | ' |
Major classifications of loans held for investment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 48,588,000 | 40,408,000 | 42,524,000 |
Tax certificates [Member] | ' | ' | ' |
Major classifications of loans held for investment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 8,230,000 | 15,364,000 | 12,716,000 |
Consumer [Member] | ' | ' | ' |
Major classifications of loans held for investment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | $2,263,000 | $831,000 | $826,000 |
Loans_and_Leases_Risk_Ratings_
Loans and Leases - Risk Ratings for Each Loan Portfolio Segment (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | $397,176 | $366,481 | $377,329 |
Commercial real estate [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 164,522 | 148,293 | 158,223 |
Construction and land development [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 41,676 | 45,261 | 39,594 |
Commercial and industrial [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 70,743 | 79,589 | 86,401 |
Multi-family [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 16,893 | 11,737 | 11,678 |
Residential real estate [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 44,261 | 25,535 | 24,830 |
Leases [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 48,588 | 42,524 | 40,408 |
Tax certificates [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 8,230 | 12,716 | 15,364 |
Consumer [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 2,263 | 826 | 831 |
Pass [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 314,553 | 254,712 | ' |
Pass [Member] | Commercial real estate [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 128,983 | 99,525 | ' |
Pass [Member] | Construction and land development [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 12,685 | 14,677 | ' |
Pass [Member] | Commercial and industrial [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 56,385 | 50,478 | ' |
Pass [Member] | Multi-family [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 16,050 | 10,792 | ' |
Pass [Member] | Residential real estate [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 43,278 | 24,903 | ' |
Pass [Member] | Leases [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 47,863 | 41,325 | ' |
Pass [Member] | Tax certificates [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 7,102 | 12,262 | ' |
Pass [Member] | Consumer [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 2,207 | 750 | ' |
Pass Watch [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 58,480 | 60,016 | ' |
Pass Watch [Member] | Commercial real estate [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 25,167 | 32,267 | ' |
Pass Watch [Member] | Construction and land development [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 25,051 | 16,270 | ' |
Pass Watch [Member] | Commercial and industrial [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 7,688 | 10,508 | ' |
Pass Watch [Member] | Multi-family [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 321 | 410 | ' |
Pass Watch [Member] | Leases [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 197 | 485 | ' |
Pass Watch [Member] | Consumer [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 56 | 76 | ' |
Special Mention [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 9,462 | 29,184 | ' |
Special Mention [Member] | Commercial real estate [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 5,062 | 11,572 | ' |
Special Mention [Member] | Construction and land development [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 3,125 | 11,095 | ' |
Special Mention [Member] | Commercial and industrial [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 750 | 5,735 | ' |
Special Mention [Member] | Multi-family [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 522 | 535 | ' |
Special Mention [Member] | Leases [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 3 | 247 | ' |
Substandard [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 4,915 | 12,412 | ' |
Substandard [Member] | Commercial real estate [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 1,578 | 2,604 | ' |
Substandard [Member] | Construction and land development [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | ' | 569 | ' |
Substandard [Member] | Commercial and industrial [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 3,337 | 9,239 | ' |
Nonperforming Financing Receivable [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 9,766 | 10,157 | ' |
Nonperforming Financing Receivable [Member] | Commercial real estate [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 3,732 | 2,325 | ' |
Nonperforming Financing Receivable [Member] | Construction and land development [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 815 | 2,650 | ' |
Nonperforming Financing Receivable [Member] | Commercial and industrial [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 2,583 | 3,629 | ' |
Nonperforming Financing Receivable [Member] | Residential real estate [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 983 | 632 | ' |
Nonperforming Financing Receivable [Member] | Leases [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | 525 | 467 | ' |
Nonperforming Financing Receivable [Member] | Tax certificates [Member] | ' | ' | ' |
Risk Ratings for Each Loan Portfolio Segment [Abstract] | ' | ' | ' |
Total LHFI, net of unearned income | $1,128 | $454 | ' |
Loans_and_Leases_Aging_Analysi
Loans and Leases - Aging Analysis of Past Due Payments for Each Loan Portfolio Segment (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Aging analysis of past due payments for each loan portfolio segment [Abstract] | ' | ' | ' |
30-59 Days Past Due | $286 | $2,054 | ' |
60-89 Days Past Due | 159 | 558 | ' |
Non-accrual | 9,766 | 10,157 | ' |
Current | 386,965 | 353,712 | ' |
Total | 397,176 | 366,481 | 377,329 |
Commercial real estate [Member] | ' | ' | ' |
Aging analysis of past due payments for each loan portfolio segment [Abstract] | ' | ' | ' |
30-59 Days Past Due | ' | 996 | ' |
Non-accrual | 3,732 | 2,325 | ' |
Current | 160,790 | 144,972 | ' |
Total | 164,522 | 148,293 | 158,223 |
Construction and land development [Member] | ' | ' | ' |
Aging analysis of past due payments for each loan portfolio segment [Abstract] | ' | ' | ' |
Non-accrual | 815 | 2,650 | ' |
Current | 40,861 | 42,611 | ' |
Total | 41,676 | 45,261 | 39,594 |
Commercial and industrial [Member] | ' | ' | ' |
Aging analysis of past due payments for each loan portfolio segment [Abstract] | ' | ' | ' |
30-59 Days Past Due | 41 | 115 | ' |
60-89 Days Past Due | 40 | 49 | ' |
Non-accrual | 2,583 | 3,629 | ' |
Current | 68,079 | 75,796 | ' |
Total | 70,743 | 79,589 | 86,401 |
Multi-family [Member] | ' | ' | ' |
Aging analysis of past due payments for each loan portfolio segment [Abstract] | ' | ' | ' |
Current | 16,893 | 11,737 | ' |
Total | 16,893 | 11,737 | 11,678 |
Residential real estate [Member] | ' | ' | ' |
Aging analysis of past due payments for each loan portfolio segment [Abstract] | ' | ' | ' |
30-59 Days Past Due | 47 | 458 | ' |
60-89 Days Past Due | 116 | 262 | ' |
Non-accrual | 983 | 632 | ' |
Current | 43,115 | 24,183 | ' |
Total | 44,261 | 25,535 | 24,830 |
Leases [Member] | ' | ' | ' |
Aging analysis of past due payments for each loan portfolio segment [Abstract] | ' | ' | ' |
30-59 Days Past Due | 198 | 485 | ' |
60-89 Days Past Due | 3 | 247 | ' |
Non-accrual | 525 | 467 | ' |
Current | 47,862 | 41,325 | ' |
Total | 48,588 | 42,524 | 40,408 |
Tax certificates [Member] | ' | ' | ' |
Aging analysis of past due payments for each loan portfolio segment [Abstract] | ' | ' | ' |
Non-accrual | 1,128 | 454 | ' |
Current | 7,102 | 12,262 | ' |
Total | 8,230 | 12,716 | 15,364 |
Consumer [Member] | ' | ' | ' |
Aging analysis of past due payments for each loan portfolio segment [Abstract] | ' | ' | ' |
Current | 2,263 | 826 | ' |
Total | $2,263 | $826 | $831 |
Loans_and_Leases_Composition_o
Loans and Leases - Composition of Non-accrual Loans (Details) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
LHFI, Nonaccrual, Loan balance | $9,766 | ' | $10,157 |
LHFI, Nonaccrual, Specific reserves | 493 | ' | 886 |
LHFS, Nonaccrual, Loan balance | 1,018 | ' | ' |
Total, Nonaccrual, Loan balance | 10,784 | ' | 10,157 |
Total, Nonaccrual. Specific reserve | 493 | ' | 886 |
Financing Receivable, Recorded Investment, Past Due [Abstract] | ' | ' | ' |
Transfers to OREO | 1,998 | 6,428 | 9,051 |
Commercial real estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
LHFI, Nonaccrual, Loan balance | 3,732 | ' | 2,325 |
LHFI, Nonaccrual, Specific reserves | 205 | ' | 331 |
Construction and land development [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
LHFI, Nonaccrual, Loan balance | 815 | ' | 2,650 |
LHFI, Nonaccrual, Specific reserves | 172 | ' | ' |
LHFS, Nonaccrual, Loan balance | 1,018 | ' | ' |
Commercial and industrial [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
LHFI, Nonaccrual, Loan balance | 2,583 | ' | 3,629 |
LHFI, Nonaccrual, Specific reserves | 5 | ' | 452 |
Residential real estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
LHFI, Nonaccrual, Loan balance | 983 | ' | 632 |
LHFI, Nonaccrual, Specific reserves | 30 | ' | 19 |
Leases [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
LHFI, Nonaccrual, Loan balance | 525 | ' | 467 |
LHFI, Nonaccrual, Specific reserves | 62 | ' | 60 |
Tax certificates [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
LHFI, Nonaccrual, Loan balance | 1,128 | ' | 454 |
LHFI, Nonaccrual, Specific reserves | $19 | ' | $24 |
Loans_and_Leases_Impaired_Loan
Loans and Leases - Impaired Loans (Details) (USD $) | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Impaired Loans [Abstract] | ' | ' | ' |
Cash collected on non accrual and impaired loan | $5,000,000 | $10,600,000 | ' |
Amount credited to principal balance outstanding | 4,500,000 | 9,900,000 | ' |
Summary of impaired loans [Abstract] | ' | ' | ' |
Impaired loans with a valuation allowance | 4,232,000 | ' | 3,835,000 |
Impaired loans without a valuation allowance | 11,909,000 | ' | 14,671,000 |
Impaired LHFS | 1,018,000 | ' | ' |
Total impaired loans and leases | 17,159,000 | ' | 18,506,000 |
Valuation allowance related to impaired loans | $493,000 | ' | $886,000 |
Loans_and_Leases_Troubled_Debt
Loans and Leases - Troubled Debt Restructuring (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
loan | loan | loan | loan | |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of loans | 12,000 | 12,000 | ' | 12 |
Total TDRs | $9,350 | $9,350 | ' | $12,084 |
Financing Receivable New Modifications for the Period [Abstract] | ' | ' | ' | ' |
Number of loans | 1 | 3 | 3 | ' |
Term | 188 | 233 | ' | ' |
Combination of types | ' | 28 | 3,787 | ' |
Total | 188 | 261 | 3,787 | ' |
Pre-Modification Outstanding Recorded Investment | 189 | 262 | 3,848 | ' |
Post-Modification Outstanding Recorded Investment | 189 | 262 | 3,848 | ' |
Accrual Status [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Total TDRs | 6,933 | 6,933 | ' | 9,524 |
Non Accrual Status [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of TDRs already classified as impaired | 3 | 3 | ' | ' |
Total TDRs | 2,417 | 2,417 | ' | 2,560 |
Commercial real estate [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of loans | 2,000 | 2,000 | ' | 3 |
Total TDRs | 2,883 | 2,883 | ' | 3,847 |
Financing Receivable New Modifications for the Period [Abstract] | ' | ' | ' | ' |
Number of loans | ' | ' | 2 | ' |
Combination of types | ' | ' | 3,705 | ' |
Total | ' | ' | 3,705 | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' | 3,761 | ' |
Post-Modification Outstanding Recorded Investment | ' | ' | 3,761 | ' |
Commercial real estate [Member] | Accrual Status [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Total TDRs | 2,883 | 2,883 | ' | 3,847 |
Construction and land development [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of loans | 3,000 | 3,000 | ' | 4 |
Total TDRs | 1,193 | 1,193 | ' | 1,736 |
Construction and land development [Member] | Accrual Status [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Total TDRs | 378 | 378 | ' | 1,257 |
Construction and land development [Member] | Non Accrual Status [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Total TDRs | 815 | 815 | ' | 479 |
Commercial and industrial [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of loans | 6,000 | 6,000 | ' | 3 |
Total TDRs | 5,169 | 5,169 | ' | 6,380 |
Financing Receivable New Modifications for the Period [Abstract] | ' | ' | ' | ' |
Number of loans | 1 | 3 | 1 | ' |
Term | 188 | 233 | ' | ' |
Combination of types | ' | 28 | 82 | ' |
Total | 188 | 261 | 82 | ' |
Pre-Modification Outstanding Recorded Investment | 189 | 262 | 87 | ' |
Post-Modification Outstanding Recorded Investment | 189 | 262 | 87 | ' |
Commercial and industrial [Member] | Accrual Status [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Total TDRs | 3,672 | 3,672 | ' | 4,420 |
Commercial and industrial [Member] | Non Accrual Status [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Total TDRs | 1,497 | 1,497 | ' | 1,960 |
Residential real estate [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Number of loans | 1,000 | 1,000 | ' | 2 |
Total TDRs | 105 | 105 | ' | 121 |
Residential real estate [Member] | Non Accrual Status [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Total TDRs | $105 | $105 | ' | $121 |
Allowance_for_Loan_and_Lease_L2
Allowance for Loan and Lease Losses - Changes in Allowance for Loan and Lease Losses (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | $11,569,000 | $15,179,000 | $13,671,000 | $17,261,000 | $17,261,000 |
Charge-offs | -271,000 | -837,000 | -1,699,000 | -3,079,000 | -3,893,000 |
Recoveries | 235,000 | 119,000 | 275,000 | 693,000 | 1,175,000 |
(Credit) provision | -51,000 | 218,000 | -765,000 | -196,000 | -872,000 |
Ending balance | 11,482,000 | 14,679,000 | 11,482,000 | 14,679,000 | 13,671,000 |
Ending balance: related to loans individually evaluated for impairment | 493,000 | 660,000 | 493,000 | 660,000 | 886,000 |
Ending balance: related to loans collectively evaluated for impairment | 10,989,000 | 14,019,000 | 10,989,000 | 14,019,000 | 12,785,000 |
LHFI [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 397,176,000 | 377,329,000 | 397,176,000 | 377,329,000 | 366,481,000 |
Ending balance: individually evaluated for impairment | 16,141,000 | 23,418,000 | 16,141,000 | 23,418,000 | 18,506,000 |
Ending balance: collectively evaluated for impairment | 381,035,000 | 353,911,000 | 381,035,000 | 353,911,000 | 347,975,000 |
Commercial real estate [Member] | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | 4,971,000 | 7,952,000 | 5,498,000 | 8,750,000 | 8,750,000 |
Charge-offs | ' | -605,000 | -349,000 | -1,440,000 | -1,684,000 |
Recoveries | ' | 1,000 | ' | 127,000 | 600,000 |
(Credit) provision | -266,000 | -1,159,000 | -444,000 | -1,248,000 | -2,168,000 |
Ending balance | 4,705,000 | 6,189,000 | 4,705,000 | 6,189,000 | 5,498,000 |
Ending balance: related to loans individually evaluated for impairment | 205,000 | 230,000 | 205,000 | 230,000 | 331,000 |
Ending balance: related to loans collectively evaluated for impairment | 4,500,000 | 5,959,000 | 4,500,000 | 5,959,000 | 5,167,000 |
LHFI [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 164,522,000 | 158,223,000 | 164,522,000 | 158,223,000 | 148,293,000 |
Ending balance: individually evaluated for impairment | 6,877,000 | 10,045,000 | 6,877,000 | 10,045,000 | 5,325,000 |
Ending balance: collectively evaluated for impairment | 157,645,000 | 148,178,000 | 157,645,000 | 148,178,000 | 142,968,000 |
Construction and land development [Member] | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | 2,033,000 | 2,017,000 | 2,316,000 | 2,987,000 | 2,987,000 |
Charge-offs | ' | ' | ' | -820,000 | -820,000 |
Recoveries | 205,000 | 106,000 | 205,000 | 297,000 | 297,000 |
(Credit) provision | 3,000 | 72,000 | -280,000 | -269,000 | -148,000 |
Ending balance | 2,241,000 | 2,195,000 | 2,241,000 | 2,195,000 | 2,316,000 |
Ending balance: related to loans individually evaluated for impairment | 172,000 | ' | 172,000 | ' | ' |
Ending balance: related to loans collectively evaluated for impairment | 2,069,000 | 2,195,000 | 2,069,000 | 2,195,000 | 2,316,000 |
LHFI [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 41,676,000 | 39,594,000 | 41,676,000 | 39,594,000 | 45,261,000 |
Ending balance: individually evaluated for impairment | 1,192,000 | 4,019,000 | 1,192,000 | 4,019,000 | 3,907,000 |
Ending balance: collectively evaluated for impairment | 40,484,000 | 35,575,000 | 40,484,000 | 35,575,000 | 41,354,000 |
Commercial and industrial [Member] | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | 1,525,000 | 2,465,000 | 3,006,000 | 1,924,000 | 1,924,000 |
Charge-offs | ' | -34,000 | -452,000 | -228,000 | -383,000 |
Recoveries | 12,000 | 4,000 | 23,000 | 14,000 | 17,000 |
(Credit) provision | -106,000 | 1,080,000 | -1,146,000 | 1,805,000 | 1,448,000 |
Ending balance | 1,431,000 | 3,515,000 | 1,431,000 | 3,515,000 | 3,006,000 |
Ending balance: related to loans individually evaluated for impairment | 5,000 | 209,000 | 5,000 | 209,000 | 452,000 |
Ending balance: related to loans collectively evaluated for impairment | 1,426,000 | 3,306,000 | 1,426,000 | 3,306,000 | 2,554,000 |
LHFI [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 70,743,000 | 86,401,000 | 70,743,000 | 86,401,000 | 79,589,000 |
Ending balance: individually evaluated for impairment | 5,897,000 | 8,112,000 | 5,897,000 | 8,112,000 | 8,049,000 |
Ending balance: collectively evaluated for impairment | 64,846,000 | 78,289,000 | 64,846,000 | 78,289,000 | 71,540,000 |
Multi-family [Member] | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | 416,000 | 588,000 | 402,000 | 654,000 | 654,000 |
(Credit) provision | -63,000 | -114,000 | -49,000 | -180,000 | -252,000 |
Ending balance | 353,000 | 474,000 | 353,000 | 474,000 | 402,000 |
Ending balance: related to loans collectively evaluated for impairment | 353,000 | 474,000 | 353,000 | 474,000 | 402,000 |
LHFI [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 16,893,000 | 11,678,000 | 16,893,000 | 11,678,000 | 11,737,000 |
Ending balance: collectively evaluated for impairment | 16,893,000 | 11,678,000 | 16,893,000 | 11,678,000 | 11,737,000 |
Residential real estate [Member] | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | 690,000 | 353,000 | 473,000 | 1,098,000 | 1,098,000 |
Charge-offs | ' | -32,000 | ' | -32,000 | -46,000 |
Recoveries | 5,000 | 2,000 | 11,000 | 157,000 | 158,000 |
(Credit) provision | 25,000 | 175,000 | 236,000 | -725,000 | -737,000 |
Ending balance | 720,000 | 498,000 | 720,000 | 498,000 | 473,000 |
Ending balance: related to loans individually evaluated for impairment | 30,000 | 16,000 | 30,000 | 16,000 | 19,000 |
Ending balance: related to loans collectively evaluated for impairment | 690,000 | 482,000 | 690,000 | 482,000 | 454,000 |
LHFI [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 44,261,000 | 24,830,000 | 44,261,000 | 24,830,000 | 25,535,000 |
Ending balance: individually evaluated for impairment | 983,000 | 520,000 | 983,000 | 520,000 | 632,000 |
Ending balance: collectively evaluated for impairment | 43,278,000 | 24,310,000 | 43,278,000 | 24,310,000 | 24,903,000 |
Leases [Member] | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | 1,352,000 | 999,000 | 1,223,000 | 1,108,000 | 1,108,000 |
Charge-offs | -206,000 | -40,000 | -568,000 | -149,000 | -382,000 |
Recoveries | 13,000 | 4,000 | 35,000 | 24,000 | 29,000 |
(Credit) provision | 325,000 | 133,000 | 794,000 | 113,000 | 468,000 |
Ending balance | 1,484,000 | 1,096,000 | 1,484,000 | 1,096,000 | 1,223,000 |
Ending balance: related to loans individually evaluated for impairment | 62,000 | 138,000 | 62,000 | 138,000 | 60,000 |
Ending balance: related to loans collectively evaluated for impairment | 1,422,000 | 958,000 | 1,422,000 | 958,000 | 1,163,000 |
LHFI [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 48,588,000 | 40,408,000 | 48,588,000 | 40,408,000 | 42,524,000 |
Ending balance: individually evaluated for impairment | 64,000 | 190,000 | 64,000 | 190,000 | 139,000 |
Ending balance: collectively evaluated for impairment | 48,524,000 | 40,218,000 | 48,524,000 | 40,218,000 | 42,385,000 |
Tax certificates [Member] | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | 408,000 | 586,000 | 555,000 | 472,000 | 472,000 |
Charge-offs | -65,000 | -126,000 | -330,000 | -410,000 | -578,000 |
Recoveries | ' | 2,000 | 1,000 | 74,000 | 74,000 |
(Credit) provision | 29,000 | 41,000 | 146,000 | 367,000 | 587,000 |
Ending balance | 372,000 | 503,000 | 372,000 | 503,000 | 555,000 |
Ending balance: related to loans individually evaluated for impairment | 19,000 | 67,000 | 19,000 | 67,000 | 24,000 |
Ending balance: related to loans collectively evaluated for impairment | 353,000 | 436,000 | 353,000 | 436,000 | 531,000 |
LHFI [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 8,230,000 | 15,364,000 | 8,230,000 | 15,364,000 | 12,716,000 |
Ending balance: individually evaluated for impairment | 1,128,000 | 532,000 | 1,128,000 | 532,000 | 454,000 |
Ending balance: collectively evaluated for impairment | 7,102,000 | 14,832,000 | 7,102,000 | 14,832,000 | 12,262,000 |
Consumer [Member] | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | 24,000 | 18,000 | 15,000 | 29,000 | 29,000 |
(Credit) provision | 9,000 | -3,000 | 18,000 | -14,000 | -14,000 |
Ending balance | 33,000 | 15,000 | 33,000 | 15,000 | 15,000 |
Ending balance: related to loans collectively evaluated for impairment | 33,000 | 15,000 | 33,000 | 15,000 | 15,000 |
LHFI [Abstract] | ' | ' | ' | ' | ' |
Ending balance | 2,263,000 | 831,000 | 2,263,000 | 831,000 | 826,000 |
Ending balance: collectively evaluated for impairment | 2,263,000 | 831,000 | 2,263,000 | 831,000 | 826,000 |
Unallocated [Member] | ' | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | 150,000 | 201,000 | 183,000 | 239,000 | 239,000 |
(Credit) provision | -7,000 | -7,000 | -40,000 | -45,000 | -56,000 |
Ending balance | 143,000 | 194,000 | 143,000 | 194,000 | 183,000 |
Ending balance: related to loans collectively evaluated for impairment | $143,000 | $194,000 | $143,000 | $194,000 | $183,000 |
Allowance_for_Loan_and_Lease_L3
Allowance for Loan and Lease Losses - Loans that were Evaluated for Impairment by Loan Segment (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2014 |
Unpaid principal balance [Abstract] | ' | ' |
With no related allowance recorded | $21,151 | $23,609 |
With an allowance recorded | 9,315 | 8,805 |
Recorded investment [Abstract] | ' | ' |
With no related allowance recorded | 14,671 | 11,909 |
With an allowance recorded | 3,835 | 4,232 |
Related allowance [Abstract] | ' | ' |
Related allowance | 886 | 493 |
Average recorded investment [Abstract] | ' | ' |
With no related allowance recorded | 18,100 | ' |
With an allowance recorded | 5,655 | ' |
Interest income recognized [Abstract] | ' | ' |
With no related allowance recorded | 559 | ' |
Commercial real estate [Member] | ' | ' |
Unpaid principal balance [Abstract] | ' | ' |
With no related allowance recorded | 4,429 | 7,410 |
With an allowance recorded | 1,435 | 1,137 |
Recorded investment [Abstract] | ' | ' |
With no related allowance recorded | 4,158 | 5,986 |
With an allowance recorded | 1,435 | 891 |
Related allowance [Abstract] | ' | ' |
Related allowance | 331 | 205 |
Average recorded investment [Abstract] | ' | ' |
With no related allowance recorded | 7,956 | ' |
With an allowance recorded | 1,879 | ' |
Interest income recognized [Abstract] | ' | ' |
With no related allowance recorded | 73 | ' |
Construction and land development [Member] | ' | ' |
Unpaid principal balance [Abstract] | ' | ' |
With no related allowance recorded | 9,850 | 2,690 |
With an allowance recorded | ' | 559 |
Recorded investment [Abstract] | ' | ' |
With no related allowance recorded | 3,907 | 633 |
With an allowance recorded | ' | 559 |
Related allowance [Abstract] | ' | ' |
Related allowance | ' | 172 |
Average recorded investment [Abstract] | ' | ' |
With no related allowance recorded | 3,933 | ' |
With an allowance recorded | 381 | ' |
Interest income recognized [Abstract] | ' | ' |
With no related allowance recorded | 209 | ' |
Commercial and industrial [Member] | ' | ' |
Unpaid principal balance [Abstract] | ' | ' |
With no related allowance recorded | 6,693 | 8,133 |
With an allowance recorded | 2,592 | 1,721 |
Recorded investment [Abstract] | ' | ' |
With no related allowance recorded | 6,491 | 4,400 |
With an allowance recorded | 1,290 | 1,497 |
Related allowance [Abstract] | ' | ' |
Related allowance | 452 | 5 |
Average recorded investment [Abstract] | ' | ' |
With no related allowance recorded | 5,960 | ' |
With an allowance recorded | 2,456 | ' |
Interest income recognized [Abstract] | ' | ' |
With no related allowance recorded | 250 | ' |
Residential real estate [Member] | ' | ' |
Unpaid principal balance [Abstract] | ' | ' |
With an allowance recorded | 827 | 1,080 |
Recorded investment [Abstract] | ' | ' |
With an allowance recorded | 631 | 983 |
Related allowance [Abstract] | ' | ' |
Related allowance | 19 | 30 |
Average recorded investment [Abstract] | ' | ' |
With no related allowance recorded | 84 | ' |
With an allowance recorded | 492 | ' |
Interest income recognized [Abstract] | ' | ' |
With no related allowance recorded | 27 | ' |
Leases [Member] | ' | ' |
Unpaid principal balance [Abstract] | ' | ' |
With an allowance recorded | 139 | 64 |
Recorded investment [Abstract] | ' | ' |
With an allowance recorded | 139 | 64 |
Related allowance [Abstract] | ' | ' |
Related allowance | 60 | 62 |
Average recorded investment [Abstract] | ' | ' |
With an allowance recorded | 106 | ' |
Tax certificates [Member] | ' | ' |
Unpaid principal balance [Abstract] | ' | ' |
With no related allowance recorded | 179 | 5,376 |
With an allowance recorded | 4,322 | 4,244 |
Recorded investment [Abstract] | ' | ' |
With no related allowance recorded | 115 | 890 |
With an allowance recorded | 340 | 238 |
Related allowance [Abstract] | ' | ' |
Related allowance | 24 | 19 |
Average recorded investment [Abstract] | ' | ' |
With no related allowance recorded | 167 | ' |
With an allowance recorded | $341 | ' |
Allowance_for_Loan_and_Lease_L4
Allowance for Loan and Lease Losses - Impaired LHFI - Average Recorded Investment and Interest Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Average recorded investment [Abstract] | ' | ' | ' | ' |
Average recorded investment | $15,531 | $24,897 | $16,602 | $25,517 |
Interest income recognized [Abstract] | ' | ' | ' | ' |
Interest income recognized | 96 | 169 | 292 | 442 |
Commercial real estate [Member] | ' | ' | ' | ' |
Average recorded investment [Abstract] | ' | ' | ' | ' |
Average recorded investment | 5,571 | 11,676 | 5,258 | 4,556 |
Interest income recognized [Abstract] | ' | ' | ' | ' |
Interest income recognized | 33 | 59 | 65 | 45 |
Construction and land development [Member] | ' | ' | ' | ' |
Average recorded investment [Abstract] | ' | ' | ' | ' |
Average recorded investment | 1,673 | 4,047 | 2,823 | 10,779 |
Interest income recognized [Abstract] | ' | ' | ' | ' |
Interest income recognized | 11 | 18 | 68 | 129 |
Commercial and industrial [Member] | ' | ' | ' | ' |
Average recorded investment [Abstract] | ' | ' | ' | ' |
Average recorded investment | 6,085 | 8,050 | 6,658 | 8,988 |
Interest income recognized [Abstract] | ' | ' | ' | ' |
Interest income recognized | 52 | 92 | 159 | 241 |
Residential real estate [Member] | ' | ' | ' | ' |
Average recorded investment [Abstract] | ' | ' | ' | ' |
Average recorded investment | 993 | 523 | 833 | 580 |
Interest income recognized [Abstract] | ' | ' | ' | ' |
Interest income recognized | ' | ' | ' | 27 |
Leases [Member] | ' | ' | ' | ' |
Average recorded investment [Abstract] | ' | ' | ' | ' |
Average recorded investment | 75 | 168 | 112 | 105 |
Tax certificates [Member] | ' | ' | ' | ' |
Average recorded investment [Abstract] | ' | ' | ' | ' |
Average recorded investment | $1,134 | $433 | $918 | $509 |
Other_Real_Estate_Owned_Change
Other Real Estate Owned - Changes in OREO (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Real Estate Owned Disclosure [Line Items] | ' | ' | ' | ' | ' |
Other real estate owned decreased | ' | ' | $24,000 | ' | ' |
Foreclosed Property [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | 9,617,000 | 13,435,000 | 13,435,000 |
Net proceeds from sales | ' | ' | -3,548,000 | -6,213,000 | -12,779,000 |
Net gains (losses) on sales | 173,000 | 629,000 | 633,000 | 1,209,000 | 1,427,000 |
Transfers in | ' | ' | 1,998,000 | 6,428,000 | 9,051,000 |
Cash additions | ' | ' | 1,292,000 | ' | ' |
Impairment charge | ' | ' | -399,000 | -953,000 | -1,517,000 |
Ending balance | 9,593,000 | ' | 9,593,000 | ' | 9,617,000 |
Loans [Member] | ' | ' | ' | ' | ' |
Foreclosed Property [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | 1,725,000 | 11,365,000 | 11,365,000 |
Net proceeds from sales | ' | ' | -1,214,000 | ' | -8,869,000 |
Net gains (losses) on sales | ' | ' | 22,000 | ' | 228,000 |
Transfers in | ' | ' | ' | ' | 100,000 |
Impairment charge | ' | ' | -100,000 | ' | -1,099,000 |
Ending balance | 433,000 | ' | 433,000 | ' | 1,725,000 |
Tax Lien [Member] | ' | ' | ' | ' | ' |
Foreclosed Property [Roll Forward] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | 7,892,000 | 2,070,000 | 2,070,000 |
Net proceeds from sales | ' | ' | -2,334,000 | ' | -3,910,000 |
Net gains (losses) on sales | ' | ' | 611,000 | ' | 1,199,000 |
Transfers in | ' | ' | 1,998,000 | ' | 8,951,000 |
Cash additions | ' | ' | 1,292,000 | ' | ' |
Impairment charge | ' | ' | -299,000 | ' | -418,000 |
Ending balance | $9,160,000 | ' | $9,160,000 | ' | $7,892,000 |
Other_Real_Estate_Owned_Compos
Other Real Estate Owned - Composition and Other Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
property | Loans [Member] | Loans [Member] | Loans [Member] | Loans, Land [Member] | Loans, Commercial Real Estate [Member] | Loans, Commercial Real Estate [Member] | Loans, Residential Real Estate [Member] | Loans, Residential Real Estate [Member] | Tax Lien [Member] | Tax Lien [Member] | Tax Lien [Member] | ||||||
property | property | property | |||||||||||||||
Composition of OREO | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other real estate owned (OREO) | $9,593,000 | ' | $9,593,000 | ' | $9,617,000 | $13,435,000 | $433,000 | $1,725,000 | $11,365,000 | $229,000 | ' | ' | ' | $204,000 | $9,160,000 | $7,892,000 | $2,070,000 |
Number of properties sold | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30 | ' | ' |
Proceeds from sale of collateral related to other real estate owned | ' | ' | 3,548,000 | 6,213,000 | 12,779,000 | ' | 1,214,000 | 8,869,000 | ' | ' | 1,000,000 | ' | ' | ' | 2,334,000 | 3,910,000 | ' |
Net gains on sales of other real estate owned | 173,000 | 629,000 | 633,000 | 1,209,000 | 1,427,000 | ' | 22,000 | 228,000 | ' | ' | 15,000 | ' | ' | ' | 611,000 | 1,199,000 | ' |
Impairment charge for OREO | ' | ' | 399,000 | 953,000 | 1,517,000 | ' | 100,000 | 1,099,000 | ' | ' | ' | 25,000 | 75,000 | ' | 299,000 | 418,000 | ' |
Transfer to other real estate owned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | ' | ' |
Number of Real Estate Properties | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | 73 | 59 | ' |
Number of properties transferred to OREO | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40 | ' | ' |
Deposits_Details
Deposits (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Deposits [Abstract] | ' | ' | ' |
Demand | $67,901 | $60,473 | ' |
NOW | 41,801 | 45,375 | ' |
Money Market | 162,177 | 164,678 | ' |
Savings | 19,142 | 17,593 | ' |
Time deposits (over $100) | 85,603 | 92,763 | ' |
Time deposits (under $100) | 139,162 | 148,082 | ' |
Total deposits | $515,786 | $528,964 | $522,620 |
Borrowings_and_Subordinated_De2
Borrowings and Subordinated Debentures (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | |
Advances from the Federal Home Loan Bank [Abstract] | ' | ' |
Line of credit with federal home loan bank, amount | $180,000,000 | ' |
Federal Home Loan Bank, advances, general debt obligations, disclosures, collateral pledged | 51,500,000 | ' |
Amount [Abstract] | ' | ' |
Advances maturing in 2014 | ' | 10,000,000 |
Advances maturing in 2015 | 10,000,000 | 10,000,000 |
Advances maturing in 2016 | 10,000,000 | 10,000,000 |
Advances maturing in 2017 | 25,000,000 | 25,000,000 |
Advances maturing in 2018 | 10,000,000 | 10,000,000 |
Total FHLB borrowings | 55,000,000 | 65,000,000 |
Rate [Abstract] | ' | ' |
Advances maturing in 2014 (as a percent) | ' | 0.24% |
Advances maturing in 2015 (as a percent) | 0.71% | 0.71% |
Advances maturing in 2016 (as a percent) | 1.11% | 1.11% |
Advances maturing in 2017 (as a percent) | 1.46% | 1.46% |
Advances maturing in 2018 (as a percent) | 2.01% | 2.01% |
Notes payable [Member] | Notes Payable To PNCBank Due August2016 Member | ' | ' |
Rate [Abstract] | ' | ' |
Notes payable with PNC Bank | 2,500,000 | 2,900,000 |
Description of variable rate basis on notes payable | 'one month LIBOR | ' |
Interest rate on notes payable (as a percent) | 0.31% | ' |
Notes payable [Member] | Notes PayableTo PNCBank Due January2018 Member | ' | ' |
Rate [Abstract] | ' | ' |
Notes payable with PNC Bank | $40,000,000 | $40,000,000 |
Weighted average interest rate on other borrowings from PNC Bank (as a percent) | 3.65% | ' |
Notes payable [Member] | London Interbank Offered Rate (LIBOR) [Member] | Notes Payable To PNCBank Due August2016 Member | ' | ' |
Rate [Abstract] | ' | ' |
DebtInstrumentBasisSpreadOnVariableRate1 | 0.15% | ' |
Borrowings_and_Subordinated_De3
Borrowings and Subordinated Debentures, Subordinated Debentures (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | |
trust | ||
Subordinated Debentures [Line Items] | ' | ' |
Junior subordinated debenture owed to unconsolidated subsidiary trust | $25,774,000 | $25,774,000 |
Number of Delaware trust affiliates | 2 | ' |
Aggregate principal amount, common securities | 20,000,000 | ' |
Royal Bancshares Capital Trust I [Member] | Common Stock [Member] | ' | ' |
Subordinated Debentures [Line Items] | ' | ' |
Aggregate principal amount, common securities | 387,000 | ' |
Royal Bancshares Capital Trust I [Member] | Trust Preferred Securities [Member] | ' | ' |
Subordinated Debentures [Line Items] | ' | ' |
Aggregate principal amount, capital securities | 12,500,000 | ' |
Trust I [Member] | ' | ' |
Subordinated Debentures [Line Items] | ' | ' |
Junior subordinated debenture owed to unconsolidated subsidiary trust | 12,900,000 | ' |
Interest rate on notes payable (as a percent) | 2.38% | ' |
Trust I [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' | ' |
Subordinated Debentures [Line Items] | ' | ' |
Description of variable rate basis on notes payable | '3-month LIBOR | ' |
Trust preferred securities basis spread on variable rate (as a percent) | 2.15% | ' |
Trust II [Member] | ' | ' |
Subordinated Debentures [Line Items] | ' | ' |
Junior subordinated debenture owed to unconsolidated subsidiary trust | $12,900,000 | ' |
Interest rate on notes payable (as a percent) | 2.38% | ' |
Trust II [Member] | London Interbank Offered Rate (LIBOR) [Member] | ' | ' |
Subordinated Debentures [Line Items] | ' | ' |
Description of variable rate basis on notes payable | '3-month LIBOR | ' |
Commitments_Contingencies_and_2
Commitments, Contingencies, and Concentrations (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Unused lines of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Financial instruments whose contract amounts represent credit risk | $47,455 | $21,182 |
Commitments to Extend Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Financial instruments whose contract amounts represent credit risk | 6,430 | 200 |
Standby letters of credit and financial guarantees written [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Financial instruments whose contract amounts represent credit risk | $847 | $2,679 |
Shareholders_Equity_Details
Shareholders' Equity (Details) (USD $) | 9 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Feb. 20, 2009 | Jun. 20, 2014 | Sep. 30, 2014 | Jul. 02, 2014 | Jun. 20, 2014 | Feb. 28, 2014 | Feb. 20, 2009 | Sep. 30, 2014 | Sep. 30, 2014 | Jun. 20, 2014 | Sep. 30, 2014 | Jun. 20, 2014 | Sep. 30, 2014 | Feb. 20, 2009 | |
Warrant To Purchase Class A Common Stock [Member] | Warrant To Purchase Class A Common Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Common Class A [Member] | Common Class A [Member] | Common Class B [Member] | Common Class B [Member] | Common Class B [Member] | Scenario, Adjustment [Member] | Capital Unit Preferred Stock And Warrant Member | |||
Vote | Vote | Warrant To Purchase Class A Common Stock [Member] | |||||||||||||||
Preferred Stock [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares issued (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,407 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, liquidation value (in dollars per share) | $1,000 | $1,000 | ' | ' | ' | ' | ' | ' | ' | $1,000 | ' | ' | ' | ' | ' | ' | ' |
Number of shares to be purchased by warrant (in shares) | ' | ' | ' | 1,104,370 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,368,040 | ' |
Aggregate purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $30,400,000 |
Preferred stock cumulative dividend rate percentage beginning February 2014 (as a percent) | 5.00% | ' | ' | ' | ' | ' | ' | ' | 9.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Number of years for warrant issued to treasury | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, exercise price (in dollars per share) | ' | ' | $4.13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.33 | ' |
Amount of approved purchase of preferred shares | ' | ' | ' | ' | ' | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends in arrears eliminated | ' | ' | ' | ' | ' | ' | 6,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock dividend in arrears | ' | ' | ' | ' | ' | 6,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $1,207.11 | ' | ' | ' | ' | ' | ' | $1.20 | ' | ' |
Shares allocated for repurchase (in shares) | ' | ' | ' | ' | 11,551 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ConvertibleStockConversionRatio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.15 | ' | ' | ' |
Number of vote for class of shares held | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | 10 | ' | ' | ' |
Common stock sold (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 16,666 | 11,666,667 | ' | ' | ' | ' |
Proceeds from issuance of common stock | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' |
Increase in common equity | 17,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Dividends [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value on which quarterly dividend is suspended | ' | ' | ' | ' | ' | $30,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Regulatory_Capital_Requirement2
Regulatory Capital Requirements (Details) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2011 | Sep. 30, 2014 | Sep. 30, 2014 |
Royal Bank [Member] | Royal Bank [Member] | Royal Bancshares [Member] | Royal Bancshares [Member] | |||||
Regulatory report submission [Member] | ||||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Tier one leverage ratio required (as a percent) | ' | ' | ' | ' | 8.00% | 8.00% | ' | ' |
Total risk based capital ratio (in hundredths) | ' | ' | ' | ' | 12.00% | ' | ' | ' |
Capital actual amount under regulations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Total capital (to risk-weighted assets) | ' | ' | ' | ' | $76,403 | ' | $94,205 | ' |
Tier I capital (to risk-weighted assets) | ' | ' | ' | ' | 70,970 | ' | 85,328 | ' |
Tier I capital (to average assets, leverage) | ' | ' | ' | ' | 70,970 | ' | 85,328 | ' |
Actual Ratio Under RAP [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Total capital (to risk-weighted assets) (as a percent) | ' | ' | ' | ' | 15.99% | ' | 19.37% | ' |
Tier I capital (to risk-weighted assets) (in hundredths) | ' | ' | ' | ' | 14.85% | ' | 17.55% | ' |
Tier I capital (to average assets, leverage) (as a percent) | ' | ' | ' | ' | 9.96% | ' | 11.78% | ' |
For capital adequacy purposes, amount [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Total capital (to risk-weighted assets) | ' | ' | ' | ' | 38,237 | ' | 38,899 | ' |
Tier I capital (to risk-weighted assets) | ' | ' | ' | ' | 19,118 | ' | 19,449 | ' |
Tier I capital (to average assets, leverage) | ' | ' | ' | ' | 28,492 | ' | 28,975 | ' |
For capital adequacy purposes, ratio [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Total capital (to risk-weighted assets) (in hundredths) | ' | ' | ' | ' | 8.00% | ' | 8.00% | ' |
Tier I capital (to risk-weighted assets) (in hundredths) | ' | ' | ' | ' | 4.00% | ' | 4.00% | ' |
Tier I capital (to average assets, leverage) (in hundredths) | ' | ' | ' | ' | 4.00% | ' | 4.00% | ' |
To be well capitalized under prompt corrective action provision, amount [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Total capital (to risk-weighted assets) | ' | ' | ' | ' | 47,796 | ' | ' | ' |
Tier I capital (to risk-weighted assets) | ' | ' | ' | ' | 28,677 | ' | ' | ' |
Tier I capital (to average assets, leverage) | ' | ' | ' | ' | 35,615 | ' | ' | ' |
To be well capitalized under prompt corrective action provision, ratio [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Total capital (to risk-weighted assets) (in hundredths) | ' | ' | ' | ' | 10.00% | ' | ' | ' |
Tier I capital (to risk-weighted assets) (in hundredths) | ' | ' | ' | ' | 6.00% | ' | ' | ' |
Tier I capital (to average assets, leverage) (in hundredths) | ' | ' | ' | ' | 5.00% | ' | ' | ' |
Adjustments to net loss as well as the capital ratios [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
RAP net loss | ' | ' | ' | ' | 682 | ' | ' | 742 |
Tax lien adjustment, net of noncontrolling interest | ' | ' | ' | ' | 3,556 | ' | ' | -3,556 |
Net income | $1,423 | $342 | $4,298 | ($343) | $4,238 | ' | ' | $4,298 |
Actual Ratio Under US GAAP [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Total capital (to risk-weighted assets) (in hundredths) | ' | ' | ' | ' | 16.61% | ' | ' | 19.37% |
Tier I capital (to risk-weighted assets) (in hundredths) | ' | ' | ' | ' | 15.49% | ' | ' | 17.55% |
Tier I capital (to average assets, leverage) (in hundredths) | ' | ' | ' | ' | 10.42% | ' | ' | 11.78% |
Ratios As Adjusted Under RAP [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Total capital (to risk-weighted assets) (in hundredths) | ' | ' | ' | ' | 15.99% | ' | ' | 18.78% |
Tier I capital (to risk-weighted assets) (in hundredths) | ' | ' | ' | ' | 14.85% | ' | ' | 16.68% |
Tier I capital (to average assets, leverage) (in hundredths) | ' | ' | ' | ' | 9.96% | ' | ' | 11.17% |
Pension_Plan_Details
Pension Plan (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Pension Plan [Abstract] | ' | ' | ' | ' | ' |
Highest consecutive years of employee compensation used to compute benefit | ' | ' | '3 years | ' | ' |
Years of employment used in benefit computation | ' | ' | '10 years | ' | ' |
Unfunded pension plan obligations | $14,300,000 | ' | $14,300,000 | ' | $14,500,000 |
Net Pension Cost [Abstract] | ' | ' | ' | ' | ' |
Service cost | 15,000 | 19,000 | 45,000 | 56,000 | ' |
Interest cost | 155,000 | 133,000 | 466,000 | 399,000 | ' |
Amortization of prior service cost | 22,000 | 22,000 | 66,000 | 67,000 | ' |
Amortization of actuarial loss | 32,000 | 122,000 | 96,000 | 367,000 | ' |
Net periodic benefit cost | $224,000 | $296,000 | $673,000 | $889,000 | ' |
Earnings_Loss_Per_Common_Share2
Earnings (Loss) Per Common Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
item | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Number of classes of common stock outstanding | ' | ' | 2 | ' |
Basic and Diluted EPS [Abstract] | ' | ' | ' | ' |
Income (loss) available to common shareholders (numerator) | $1,271 | ($178) | $2,654 | ($1,896) |
Average shares (denominator) (in shares) | 27,329,000 | 13,286,000 | 18,042,000 | 13,272,000 |
Per share Amount (in dollars per share) | $0.05 | ($0.01) | $0.15 | ($0.14) |
Stock Options [Member] | ' | ' | ' | ' |
Basic and Diluted EPS [Abstract] | ' | ' | ' | ' |
Number of antidilutive common share (in shares) | 168,907 | 202,408 | 168,907 | 202,408 |
Warrant To Purchase Class A Common Stock [Member] | ' | ' | ' | ' |
Basic and Diluted EPS [Abstract] | ' | ' | ' | ' |
Number of antidilutive common share (in shares) | ' | ' | 1,368,040 | ' |
Common Class B [Member] | ' | ' | ' | ' |
Basic and Diluted EPS [Abstract] | ' | ' | ' | ' |
Number of shares received after conversion, per share | ' | ' | 1.15 | ' |
Comprehensive_Income_Loss_Deta
Comprehensive Income (Loss) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Unrealized gains on investment securities [Abstract] | ' | ' | ' | ' | ||||
Unrealized holding gains arising during period, before tax | ' | ' | $6,570 | ($8,833) | ||||
Less reclassification adjustment for gains realized in net income, before tax | ' | ' | 330 | 69 | ||||
Unrealized gains on investment securities, before tax | ' | ' | 6,240 | -8,902 | ||||
Unrecognized benefit obligation expense [Abstract] | ' | ' | ' | ' | ||||
Less reclassification adjustment for amortization, before tax | ' | ' | -85 | -429 | ||||
Other comprehensive income net, before tax | ' | ' | 6,325 | -8,473 | ||||
Unrealized gains on investment securities [Abstract] | ' | ' | ' | ' | ||||
Unrealized holding gains arising during period, tax | ' | ' | 2,101 | -3,128 | ||||
Less reclassification adjustment for gains realized in net income, tax | ' | ' | 112 | 23 | ||||
Unrealized gains on investment securities, tax | ' | ' | 1,989 | -3,151 | ||||
Unrecognized benefit obligation expense [Abstract] | ' | ' | ' | ' | ||||
Less reclassification adjustment for amortization, tax | ' | ' | -29 | -146 | ||||
Other comprehensive income net, tax | ' | ' | 2,018 | -3,005 | ||||
Unrealized gains on investment securities [Abstract] | ' | ' | ' | ' | ||||
Unrealized holding gains arising during period, net of tax | -80 | -1,687 | 4,469 | -5,705 | ||||
Less reclassification adjustment for gains realized in net income (loss) (1) | 157 | [1] | ' | 218 | [1] | 46 | [1] | |
Unrealized gains (losses) on investment securities | -237 | -1,687 | 4,251 | -5,751 | ||||
Unrecognized benefit obligation expense [Abstract] | ' | ' | ' | ' | ||||
Less reclassification adjustment for amortization (2), net of tax effect | -18 | [2] | -94 | [2] | -56 | [2] | -283 | [2] |
Other comprehensive income (loss) | ($219) | ($1,593) | $4,307 | ($5,468) | ||||
[1] | Amounts are included in net gains on the sale of AFS investment securities on the Consolidated Statements of Operations in total non-interest income, net of taxes. | |||||||
[2] | Amounts are included in salaries and benefits on the Consolidated Statements of Operations in non-interest expense. |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | $265,390,000 | $308,727,000 |
U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 32,541,000 | 62,036,000 |
Mortgage-backed Securities-residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 27,127,000 | 32,097,000 |
Collateralized Mortgage Obligations, Issued or Guaranteed by U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 172,684,000 | 189,103,000 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 3,938,000 | 4,479,000 |
Corporate Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 15,633,000 | 9,438,000 |
Municipal Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 9,027,000 | 6,900,000 |
Private Equity Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 4,390,000 | 4,625,000 |
Common Stock [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 50,000 | 49,000 |
Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 265,390,000 | 308,727,000 |
Recurring [Member] | U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 32,541,000 | 62,036,000 |
Recurring [Member] | Mortgage-backed Securities-residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 27,127,000 | 32,097,000 |
Recurring [Member] | Collateralized Mortgage Obligations, Issued or Guaranteed by U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 172,684,000 | 189,103,000 |
Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 3,938,000 | 4,479,000 |
Recurring [Member] | Corporate Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 15,633,000 | 9,438,000 |
Recurring [Member] | Municipal Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 9,027,000 | 6,900,000 |
Recurring [Member] | Private Equity Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 4,390,000 | 4,625,000 |
Recurring [Member] | Common Stock [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 50,000 | 49,000 |
Quoted Prices in Active Markets for Identical Assets Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 50,000 | 49,000 |
Quoted Prices in Active Markets for Identical Assets Level 1 [Member] | Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 50,000 | 49,000 |
Quoted Prices in Active Markets for Identical Assets Level 1 [Member] | Recurring [Member] | Common Stock [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 50,000 | 49,000 |
Significant Other Observable Inputs Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 260,950,000 | 304,053,000 |
Significant Other Observable Inputs Level 2 [Member] | Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 260,950,000 | 304,053,000 |
Significant Other Observable Inputs Level 2 [Member] | Recurring [Member] | U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 32,541,000 | 62,036,000 |
Significant Other Observable Inputs Level 2 [Member] | Recurring [Member] | Mortgage-backed Securities-residential [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 27,127,000 | 32,097,000 |
Significant Other Observable Inputs Level 2 [Member] | Recurring [Member] | Collateralized Mortgage Obligations, Issued or Guaranteed by U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 172,684,000 | 189,103,000 |
Significant Other Observable Inputs Level 2 [Member] | Recurring [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 3,938,000 | 4,479,000 |
Significant Other Observable Inputs Level 2 [Member] | Recurring [Member] | Corporate Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 15,633,000 | 9,438,000 |
Significant Other Observable Inputs Level 2 [Member] | Recurring [Member] | Municipal Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 9,027,000 | 6,900,000 |
Significant Unobservable Inputs Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 4,390,000 | 4,625,000 |
Significant Unobservable Inputs Level 3 [Member] | Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | 4,390,000 | 4,625,000 |
Significant Unobservable Inputs Level 3 [Member] | Recurring [Member] | Private Equity Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investment securities available for sale | $4,390,000 | $4,625,000 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Unobservable Input Reconciliation (Details) (Private Equity Funds [Member], USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Private Equity Funds [Member] | ' | ' |
Assets measured at fair value on recurring basis Level 3 inputs [Roll Forward] | ' | ' |
Beginning balance | $4,625 | $4,164 |
Fair Value Assets and Liabilities Measured on Recurring Basis Gain Loss Included in Earnings [Abstract] | ' | ' |
Included in earnings | 251 | 5 |
Included in other comprehensive income | 299 | 361 |
Purchases | 14 | 32 |
Sales and calls | -799 | -300 |
Ending balance | $4,390 | $4,262 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Measurement (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Significant Unobservable Inputs Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Loans and leases held for sale | $1,018 | $1,446 |
Nonrecurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans and leases | 3,739 | 4,073 |
Other real estate owned | 2,624 | 9,182 |
Loans and leases held for sale | 1,018 | 1,446 |
Nonrecurring [Member] | Significant Unobservable Inputs Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans and leases | 3,739 | 4,073 |
Other real estate owned | 2,624 | 9,182 |
Loans and leases held for sale | $1,018 | $1,446 |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments - Quantitative Information (Details) (Appraisal of collateral valuation technique [Member], Significant Unobservable Inputs Level 3 [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Impaired loans and leases [Member] | ' | ' |
Additional quantitative information about assets measured at fair value on a nonrecurring basis [Abstract] | ' | ' |
Assets, Fair Value | $3,739 | $4,073 |
Other real estate owned [Member] | ' | ' |
Additional quantitative information about assets measured at fair value on a nonrecurring basis [Abstract] | ' | ' |
Assets, Fair Value | 2,624 | 9,182 |
Loans and leases held for sale [Member] | ' | ' |
Additional quantitative information about assets measured at fair value on a nonrecurring basis [Abstract] | ' | ' |
Assets, Fair Value | $1,018 | $1,446 |
Minimum [Member] | Other real estate owned [Member] | ' | ' |
Additional quantitative information about assets measured at fair value on a nonrecurring basis [Abstract] | ' | ' |
Range (Weighted Average) of Liquidation expenses (in hundredths | ' | -2.80% |
Maximum [Member] | Impaired loans and leases [Member] | ' | ' |
Additional quantitative information about assets measured at fair value on a nonrecurring basis [Abstract] | ' | ' |
Range (Weighted Average) of Appraisal adjustments (in hundredths) | -28.90% | -25.00% |
Range (Weighted Average) of Liquidation expenses (in hundredths | -21.10% | -23.20% |
Maximum [Member] | Other real estate owned [Member] | ' | ' |
Additional quantitative information about assets measured at fair value on a nonrecurring basis [Abstract] | ' | ' |
Range (Weighted Average) of Appraisal adjustments (in hundredths) | -69.70% | -62.50% |
Range (Weighted Average) of Liquidation expenses (in hundredths | -14.70% | -6.80% |
Weighted Average [Member] | Impaired loans and leases [Member] | ' | ' |
Additional quantitative information about assets measured at fair value on a nonrecurring basis [Abstract] | ' | ' |
Range (Weighted Average) of Appraisal adjustments (in hundredths) | -20.90% | -2.00% |
Range (Weighted Average) of Liquidation expenses (in hundredths | -7.50% | -6.70% |
Weighted Average [Member] | Other real estate owned [Member] | ' | ' |
Additional quantitative information about assets measured at fair value on a nonrecurring basis [Abstract] | ' | ' |
Range (Weighted Average) of Appraisal adjustments (in hundredths) | -11.30% | -11.20% |
Range (Weighted Average) of Liquidation expenses (in hundredths | -14.70% | -5.00% |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments - Balance Sheet Grouping (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Financial Assets [Abstract] | ' | ' |
Investment securities available-for-sale (bAFSb), at fair value | $265,390,000 | $308,727,000 |
Quoted Prices in Active Markets for Identical Assets Level 1 [Member] | ' | ' |
Financial Assets [Abstract] | ' | ' |
Cash and cash equivalents | 21,933,000 | 16,844,000 |
Investment securities available-for-sale (bAFSb), at fair value | 50,000 | 49,000 |
Financial Liabilities [Abstract] | ' | ' |
Short-term borrowings | ' | 10,000,000 |
Significant Other Observable Inputs Level 2 [Member] | ' | ' |
Financial Assets [Abstract] | ' | ' |
Investment securities available-for-sale (bAFSb), at fair value | 260,950,000 | 304,053,000 |
Accrued interest receivable | 5,554,000 | 7,054,000 |
Financial Liabilities [Abstract] | ' | ' |
Demand deposits | 67,901,000 | 60,473,000 |
NOW and money markets | 203,978,000 | 210,053,000 |
Savings | 19,142,000 | 17,593,000 |
Time deposits | 223,270,000 | 239,102,000 |
Long-term borrowings | 94,885,000 | 94,896,000 |
Subordinated debt | 24,209,000 | 26,000,000 |
Accrued interest payable | 2,305,000 | 965,000 |
Significant Unobservable Inputs Level 3 [Member] | ' | ' |
Financial Assets [Abstract] | ' | ' |
Investment securities available-for-sale (bAFSb), at fair value | 4,390,000 | 4,625,000 |
Other investment | 2,250,000 | 2,250,000 |
Federal Home Loan Bank stock | 3,678,000 | 4,204,000 |
Loans held for sale | 1,018,000 | 1,446,000 |
Loans, net | 383,088,000 | 349,336,000 |
Carrying Amount [Member] | ' | ' |
Financial Assets [Abstract] | ' | ' |
Cash and cash equivalents | 21,933,000 | 16,844,000 |
Investment securities available-for-sale (bAFSb), at fair value | 265,390,000 | 308,727,000 |
Other investment | 2,250,000 | 2,250,000 |
Federal Home Loan Bank stock | 3,678,000 | 4,204,000 |
Loans held for sale | 1,018,000 | 1,446,000 |
Loans, net | 385,694,000 | 352,810,000 |
Accrued interest receivable | 5,554,000 | 7,054,000 |
Financial Liabilities [Abstract] | ' | ' |
Demand deposits | 67,901,000 | 60,473,000 |
NOW and money markets | 203,978,000 | 210,053,000 |
Savings | 19,142,000 | 17,593,000 |
Time deposits | 224,765,000 | 240,845,000 |
Short-term borrowings | ' | 10,000,000 |
Long-term borrowings | 97,540,000 | 97,881,000 |
Subordinated debt | 25,774,000 | 25,774,000 |
Accrued interest payable | 2,305,000 | 965,000 |
Estimated Fair Value [Member] | ' | ' |
Financial Assets [Abstract] | ' | ' |
Cash and cash equivalents | 21,933,000 | 16,844,000 |
Investment securities available-for-sale (bAFSb), at fair value | 265,390,000 | 308,727,000 |
Other investment | 2,250,000 | 2,250,000 |
Federal Home Loan Bank stock | 3,678,000 | 4,204,000 |
Loans held for sale | 1,018,000 | 1,446,000 |
Loans, net | 383,088,000 | 349,336,000 |
Accrued interest receivable | 5,554,000 | 7,054,000 |
Financial Liabilities [Abstract] | ' | ' |
Demand deposits | 67,901,000 | 60,473,000 |
NOW and money markets | 203,978,000 | 210,053,000 |
Savings | 19,142,000 | 17,593,000 |
Time deposits | 223,270,000 | 239,102,000 |
Short-term borrowings | ' | 10,000,000 |
Long-term borrowings | 94,885,000 | 94,896,000 |
Subordinated debt | 24,209,000 | 26,000,000 |
Accrued interest payable | $2,305,000 | $965,000 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Ownership interest (as a percent) | 60.00% | ' | 60.00% | ' | ' |
Selected Segment Information and Reconciliations to Consolidated Financial Information [Abstract] | ' | ' | ' | ' | ' |
Total assets | $723,469,000 | $737,000,000 | $723,469,000 | $737,000,000 | $732,254,000 |
Total deposits | 515,786,000 | 522,620,000 | 515,786,000 | 522,620,000 | 528,964,000 |
Interest income | 7,191,000 | 6,960,000 | 21,551,000 | 20,455,000 | ' |
Interest expense | 1,623,000 | 1,890,000 | 4,870,000 | 5,667,000 | ' |
Net Interest Income | 5,568,000 | 5,070,000 | 16,681,000 | 14,788,000 | ' |
(Credit) provision for loan and lease losses | -51,000 | 218,000 | -765,000 | -196,000 | ' |
Total non-interest Income | 1,204,000 | 1,937,000 | 2,792,000 | 4,306,000 | ' |
Noninterest Expense | 5,375,000 | 6,290,000 | 15,728,000 | 19,997,000 | ' |
Net Income (Loss) | 1,448,000 | 499,000 | 4,510,000 | -707,000 | ' |
Noncontrolling interest | 25,000 | 157,000 | 212,000 | -364,000 | ' |
Net Income (Loss) Attributable to Royal Bancshares of Pennsylvania, Inc. | 1,423,000 | 342,000 | 4,298,000 | -343,000 | ' |
Royal Bank [Member] | ' | ' | ' | ' | ' |
Selected Segment Information and Reconciliations to Consolidated Financial Information [Abstract] | ' | ' | ' | ' | ' |
Net Income (Loss) Attributable to Royal Bancshares of Pennsylvania, Inc. | ' | ' | 4,238,000 | ' | ' |
Royal Bank [Member] | Crusader Servicing Corporation [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Ownership interest (as a percent) | 80.00% | 60.00% | 80.00% | 60.00% | ' |
Royal Bank [Member] | Royal Tax Lien [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Ownership interest (as a percent) | ' | 60.00% | ' | 60.00% | ' |
Community Banking Segment [Member] | ' | ' | ' | ' | ' |
Selected Segment Information and Reconciliations to Consolidated Financial Information [Abstract] | ' | ' | ' | ' | ' |
Total assets | 701,803,000 | 708,864,000 | 701,803,000 | 708,864,000 | ' |
Total deposits | 515,786,000 | 522,620,000 | 515,786,000 | 522,620,000 | ' |
Interest income | 6,889,000 | 6,485,000 | 20,549,000 | 18,556,000 | ' |
Interest expense | 1,367,000 | 1,560,000 | 4,030,000 | 4,525,000 | ' |
Net Interest Income | 5,522,000 | 4,925,000 | 16,519,000 | 14,031,000 | ' |
(Credit) provision for loan and lease losses | -79,000 | 178,000 | -911,000 | -563,000 | ' |
Total non-interest Income | 987,000 | 1,344,000 | 2,019,000 | 3,056,000 | ' |
Noninterest Expense | 4,916,000 | 5,683,000 | 14,221,000 | 16,348,000 | ' |
Net Income (Loss) | 1,672,000 | 408,000 | 5,228,000 | 1,302,000 | ' |
Noncontrolling interest | 69,000 | 121,000 | 337,000 | 422,000 | ' |
Net Income (Loss) Attributable to Royal Bancshares of Pennsylvania, Inc. | 1,603,000 | 287,000 | 4,891,000 | 880,000 | ' |
Tax Lien Segment [Member] | ' | ' | ' | ' | ' |
Selected Segment Information and Reconciliations to Consolidated Financial Information [Abstract] | ' | ' | ' | ' | ' |
Total assets | 21,666,000 | 28,136,000 | 21,666,000 | 28,136,000 | ' |
Interest income | 302,000 | 475,000 | 1,002,000 | 1,899,000 | ' |
Interest expense | 256,000 | 330,000 | 840,000 | 1,142,000 | ' |
Net Interest Income | 46,000 | 145,000 | 162,000 | 757,000 | ' |
(Credit) provision for loan and lease losses | 28,000 | 40,000 | 146,000 | 367,000 | ' |
Total non-interest Income | 217,000 | 593,000 | 773,000 | 1,250,000 | ' |
Noninterest Expense | 459,000 | 607,000 | 1,507,000 | 3,649,000 | ' |
Net Income (Loss) | -224,000 | 91,000 | -718,000 | -2,009,000 | ' |
Noncontrolling interest | -44,000 | 36,000 | -125,000 | -786,000 | ' |
Net Income (Loss) Attributable to Royal Bancshares of Pennsylvania, Inc. | -180,000 | 55,000 | -593,000 | -1,223,000 | ' |
Tax Lien Segment [Member] | Royal Bank [Member] | Crusader Servicing Corporation [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Ownership interest (as a percent) | 80.00% | 60.00% | 80.00% | 60.00% | ' |
Tax Lien Segment [Member] | Royal Bank [Member] | Royal Tax Lien [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Ownership interest (as a percent) | 100.00% | 60.00% | 100.00% | 60.00% | ' |
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' |
Selected Segment Information and Reconciliations to Consolidated Financial Information [Abstract] | ' | ' | ' | ' | ' |
Interest income | $256,000 | $330,000 | $840,000 | $1,100,000 | ' |
Federal_Home_Loan_Bank_Stock_D
Federal Home Loan Bank Stock (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank Stock [Abstract] | ' | ' |
Total FHLB stock | $3,678 | $4,204 |