Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'INTERVEST BANCSHARES CORP | ' |
Entity Central Index Key | '0000927807 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 21,917,823 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks | $25,292 | $57,641 |
Federal funds sold and other short-term investments | 4,961 | 2,754 |
Total cash and cash equivalents | 30,253 | 60,395 |
Time deposits with banks | 5,370 | 5,170 |
Securities available for sale (estimated fair value of $1,016 and $1,000, respectively) | 1,016 | 1,000 |
Securities held to maturity (estimated fair value of $410,304 and $442,166, respectively) | 416,321 | 443,777 |
Federal Reserve Bank and Federal Home Loan Bank stock, at cost | 8,237 | 8,151 |
Loans receivable (net of allowance for loan losses of $26,777 and $28,103, respectively) | 1,073,500 | 1,079,363 |
Accrued interest receivable | 4,735 | 5,191 |
Loan fees receivable | 2,511 | 3,108 |
Premises and equipment, net | 4,129 | 3,878 |
Foreclosed real estate (net of valuation allowance of $2,123 and $5,339, respectively) | 12,019 | 15,923 |
Deferred income tax asset | 21,774 | 29,234 |
Other assets | 4,374 | 10,602 |
Total assets | 1,584,239 | 1,665,792 |
Deposits: | ' | ' |
Noninterest-bearing demand deposit accounts | 5,138 | 5,130 |
Interest-bearing deposit accounts: | ' | ' |
Checking (NOW) accounts | 15,816 | 15,185 |
Savings accounts | 9,670 | 9,601 |
Money market accounts | 370,367 | 395,825 |
Certificate of deposit accounts | 897,412 | 936,878 |
Total deposit accounts | 1,298,403 | 1,362,619 |
Long-term debt - subordinated debentures (capital securities) | 56,702 | 56,702 |
Accrued interest payable on long term debt | 463 | 6,228 |
Accrued interest payable on deposits | 1,398 | 2,379 |
Mortgage escrow funds payable | 27,003 | 17,743 |
Official checks outstanding | 5,224 | 7,003 |
Other liabilities | 2,758 | 2,171 |
Total liabilities | 1,391,951 | 1,454,845 |
STOCKHOLDERS' EQUITY | ' | ' |
Preferred stock ($1.00 par value; 300,000 shares authorized; 25,000 shares issued and outstanding at December 31, 2012) | ' | 25 |
Additional paid-in-capital, preferred | ' | 24,975 |
Preferred stock discount | ' | -376 |
Common stock ($1.00 par value; 62,000,000 shares authorized; 21,916,623 and 21,589,589 shares issued and outstanding, respectively) | 21,917 | 21,590 |
Additional paid-in-capital, common | 87,066 | 85,726 |
Unearned compensation on restricted common stock awards | -1,447 | -715 |
Retained earnings | 84,752 | 79,722 |
Total stockholders' equity | 192,288 | 210,947 |
Total liabilities and stockholders' equity | $1,584,239 | $1,665,792 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Securities available for sale estimated fair value | $1,016 | $1,000 |
Securities held to maturity, estimated fair value | 410,304 | 442,166 |
Loans receivable, allowance for loan losses | 26,777 | 28,103 |
Foreclosed real estate, valuation allowance | $2,123 | $5,339 |
Preferred stock, par value | $1 | $1 |
Preferred stock, shares authorized | 300,000 | 300,000 |
Preferred stock, issued | 25,000 | 25,000 |
Preferred stock, outstanding | ' | 25,000 |
Common stock, par value | $1 | $1 |
Common stock, shares authorized | 62,000,000 | 62,000,000 |
Common stock, shares issued | 21,916,623 | 21,589,589 |
Common stock, shares outstanding | 21,916,623 | 21,589,589 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Earnings (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
INTEREST AND DIVIDEND INCOME | ' | ' | ' | ' |
Loans receivable | $14,486,000 | $17,351,000 | $44,230,000 | $53,202,000 |
Securities | 1,121,000 | 1,719,000 | 3,213,000 | 6,255,000 |
Other interest-earning assets | 17,000 | 12,000 | 53,000 | 29,000 |
Total interest and dividend income | 15,624,000 | 19,082,000 | 47,496,000 | 59,486,000 |
INTEREST EXPENSE | ' | ' | ' | ' |
Deposits | 6,392,000 | 8,654,000 | 19,810,000 | 28,214,000 |
Subordinated debentures - capital securities | 402,000 | 466,000 | 1,277,000 | 1,392,000 |
FHLB advances and all other borrowed funds | ' | 103,000 | ' | 358,000 |
Total interest expense | 6,794,000 | 9,223,000 | 21,087,000 | 29,964,000 |
Net interest and dividend income | 8,830,000 | 9,859,000 | 26,409,000 | 29,522,000 |
Provision (credit) for loan losses | 250,000 | ' | -1,500,000 | ' |
Net interest and dividend income after provision (credit) for loan losses | 8,580,000 | 9,859,000 | 27,909,000 | 29,522,000 |
NONINTEREST INCOME | ' | ' | ' | ' |
Income from the early repayment of mortgage loans | 619,000 | 765,000 | 1,909,000 | 2,730,000 |
Income from mortgage lending activities | 455,000 | 332,000 | 1,112,000 | 793,000 |
Customer service fees | 100,000 | 90,000 | 289,000 | 352,000 |
Impairment writedowns on investment securities | -273,000 | ' | -964,000 | -157,000 |
Total noninterest income | 901,000 | 1,187,000 | 2,346,000 | 3,718,000 |
NONINTEREST EXPENSES | ' | ' | ' | ' |
Salaries and employee benefits | 2,081,000 | 2,122,000 | 6,394,000 | 6,271,000 |
Occupancy and equipment, net | 554,000 | 523,000 | 1,632,000 | 1,566,000 |
Data processing | 97,000 | 83,000 | 271,000 | 284,000 |
Professional fees and services | 327,000 | 370,000 | 1,095,000 | 1,129,000 |
Stationery, printing, supplies, postage and delivery | 61,000 | 78,000 | 207,000 | 200,000 |
FDIC insurance | 318,000 | 581,000 | 1,129,000 | 1,816,000 |
General insurance | 153,000 | 143,000 | 455,000 | 433,000 |
Director and committee fees | 85,000 | 103,000 | 272,000 | 317,000 |
Advertising and promotion | 7,000 | 5,000 | 17,000 | 12,000 |
Real estate activities expense (income), net | 212,000 | 883,000 | -1,120,000 | 1,822,000 |
Provision for real estate losses | 250,000 | 1,025,000 | 955,000 | 2,933,000 |
All other | 179,000 | 152,000 | 482,000 | 445,000 |
Total noninterest expenses | 4,324,000 | 6,068,000 | 11,789,000 | 17,228,000 |
Earnings before provision for income taxes | 5,157,000 | 4,978,000 | 18,466,000 | 16,012,000 |
Provision for income taxes | 2,300,000 | 2,300,000 | 8,179,000 | 7,320,000 |
Net earnings | 2,857,000 | 2,678,000 | 10,287,000 | 8,692,000 |
Preferred stock dividend requirements and discount amortization | -269,000 | -453,000 | -1,057,000 | -1,345,000 |
Net earnings available to common stockholders | $2,588,000 | $2,225,000 | $9,230,000 | $7,347,000 |
Basic earnings per common share | $0.12 | $0.10 | $0.42 | $0.34 |
Diluted earnings per common share | $0.12 | $0.10 | $0.42 | $0.34 |
Cash dividends per common share | ' | ' | ' | ' |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Preferred Stock [Member] | Additional Paid-In-Capital, Preferred [Member] | Preferred Stock Discount [Member] | Common Stock [Member] | Additional Paid-In-Capital, Common [Member] | Unearned Compensation - Restricted Stock [Member] | Retained Earnings [Member] |
Balance at beginning of period at Dec. 31, 2011 | ' | $25,000 | $24,975,000 | ($762,000) | $21,125,000 | $84,765,000 | ($483,000) | $67,886,000 |
Balance at beginning of period (in shares) at Dec. 31, 2011 | ' | 25,000 | ' | ' | 21,125,289 | ' | ' | ' |
Preferred stockholder's equity | 24,528,000 | ' | ' | ' | ' | ' | ' | ' |
Preferred stockholder's equity, shares | 25,000 | ' | ' | ' | ' | ' | ' | ' |
Net earnings | 8,692,000 | ' | ' | ' | ' | ' | ' | 8,692,000 |
Amortization of preferred stock discount | ' | ' | ' | 290,000 | ' | ' | ' | ' |
Issuance of 330,700 and 465,400 shares of restricted stock | ' | ' | ' | ' | 466,000 | 884,000 | -1,350,000 | ' |
Redemption of preferred stock | ' | ' | 0 | ' | ' | ' | ' | ' |
Common stockholders' equity | 182,580,000 | ' | ' | ' | ' | ' | ' | ' |
Issuance of 330,700 and 465,400 shares of restricted stock, shares | ' | ' | ' | ' | 465,400 | 465,400 | 465,400 | ' |
Amortization of unearned compensation to compensation expense | ' | ' | ' | ' | ' | ' | 827,000 | ' |
Redemption of preferred stock, Shares | ' | 0 | ' | ' | ' | ' | ' | ' |
Common stockholders' equity, shares | 21,589,589 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock discount amortization | -1,345,000 | ' | ' | ' | ' | ' | ' | -290,000 |
Issuance of 14,967 and 100 shares upon exercise of stock options (In Shares) | ' | ' | ' | ' | 100 | 100 | ' | ' |
Forfeiture of 18,633 and 1,200 shares of restricted stock | ' | ' | ' | ' | -1,000 | -2,000 | ' | ' |
Forfeiture of 18,633 and 1,200 shares of restricted stock, shares | ' | ' | ' | ' | -1,200 | 1,200 | ' | ' |
Excess income tax benefit from vesting of restricted stock | 0 | ' | ' | ' | ' | ' | ' | ' |
Compensation expense related to grants of stock options | ' | ' | ' | ' | ' | 61,000 | ' | ' |
Total stockholders' equity at end of period at Sep. 30, 2012 | 207,108,000 | 25,000 | 24,975,000 | -472,000 | 21,590,000 | 85,708,000 | -1,006,000 | 76,288,000 |
Balance at end of period (in shares) at Sep. 30, 2012 | 21,614,589 | 25,000 | ' | ' | 21,589,589 | ' | ' | ' |
Balance at beginning of period at Dec. 31, 2012 | 210,947,000 | 25,000 | 24,975,000 | -376,000 | 21,590,000 | 85,726,000 | -715,000 | 79,722,000 |
Balance at beginning of period (in shares) at Dec. 31, 2012 | ' | 25,000 | ' | ' | 21,589,589 | ' | ' | ' |
Preferred stockholder's equity, shares | 25,000 | ' | ' | ' | ' | ' | ' | ' |
Net earnings | 10,287,000 | ' | ' | ' | ' | ' | ' | 10,287,000 |
Amortization of preferred stock discount | ' | ' | ' | 376,000 | ' | ' | ' | ' |
Issuance of 330,700 and 465,400 shares of restricted stock | ' | ' | ' | ' | 331,000 | 1,157,000 | -1,488,000 | ' |
Redemption of preferred stock | ' | -25,000 | -24,975,000 | ' | ' | ' | ' | ' |
Common stockholders' equity | 192,288,000 | ' | ' | ' | ' | ' | ' | ' |
Cash dividend declared and paid on preferred stock | ' | ' | ' | ' | ' | ' | ' | -5,068,000 |
Issuance of 330,700 and 465,400 shares of restricted stock, shares | ' | ' | ' | ' | 330,700 | 330,700 | 330,700 | ' |
Amortization of unearned compensation to compensation expense | ' | ' | ' | ' | ' | ' | 756,000 | ' |
Redemption of preferred stock, Shares | ' | -25,000 | ' | ' | ' | ' | ' | ' |
Common stockholders' equity, shares | 21,916,623 | ' | ' | ' | ' | ' | ' | ' |
Discount from redemption of preferred stock | ' | ' | ' | ' | ' | ' | ' | 187,000 |
Issuance of 14,967 and 100 shares upon exercise of stock options | ' | ' | ' | ' | 15,000 | 39,000 | ' | ' |
Preferred stock discount amortization | -1,057,000 | ' | ' | ' | ' | ' | ' | -376,000 |
Issuance of 14,967 and 100 shares upon exercise of stock options (In Shares) | 14,967 | ' | ' | ' | 14,967 | 14,967 | ' | ' |
Forfeiture of 18,633 and 1,200 shares of restricted stock | ' | ' | ' | ' | -19,000 | -40,000 | ' | ' |
Forfeiture of 18,633 and 1,200 shares of restricted stock, shares | ' | ' | ' | ' | -18,633 | 18,633 | ' | ' |
Excess income tax benefit from vesting of restricted stock | 150,000 | ' | ' | ' | ' | 150,000 | ' | ' |
Compensation expense related to grants of stock options | ' | ' | ' | ' | ' | 34,000 | ' | ' |
Total stockholders' equity at end of period at Sep. 30, 2013 | $192,288,000 | $0 | ' | ' | $21,917,000 | $87,066,000 | ($1,447,000) | $84,752,000 |
Balance at end of period (in shares) at Sep. 30, 2013 | 21,916,623 | ' | ' | ' | 21,916,623 | ' | ' | ' |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Issuance of common stock option | 14,967 | ' |
Common Stock [Member] | ' | ' |
Issuance of shares of restricted stock issued, shares | 330,700 | 465,400 |
Issuance of common stock option | 14,967 | 100 |
Forfeiture of 18,633 and 1,200 shares of restricted stock | -18,633 | -1,200 |
Additional Paid-In-Capital, Common [Member] | ' | ' |
Issuance of shares of restricted stock issued, shares | 330,700 | 465,400 |
Issuance of common stock option | 14,967 | 100 |
Forfeiture of 18,633 and 1,200 shares of restricted stock | 18,633 | 1,200 |
Unearned Compensation - Restricted Stock [Member] | ' | ' |
Issuance of shares of restricted stock issued, shares | 330,700 | 465,400 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
OPERATING ACTIVITIES | ' | ' |
Net earnings | $10,287 | $8,692 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 258 | 260 |
(Credit) provisions for loan and real estate losses, net | -545 | 2,933 |
Deferred income tax expense | 7,460 | 6,844 |
Compensation expense related to grants of common stock and options | 731 | 885 |
Amortization of deferred debenture offering costs | 28 | 28 |
Amortization of premiums (accretion) of discounts and deferred loan fees, net | 610 | 299 |
Net gain on sales of foreclosed real estate | -820 | ' |
Impairment writedowns on investment securities | 964 | 157 |
Net (decrease) increase in accrued interest payable on debentures | -5,765 | 1,406 |
Net (decrease) increase in official checks outstanding | -1,779 | 5,385 |
Net decrease in loan fees receivable | 597 | 755 |
Net change in all other assets and liabilities | 7,716 | 1,842 |
Net cash provided by operating activities | 19,742 | 29,486 |
INVESTING ACTIVITIES | ' | ' |
Maturities and calls of securities held to maturity | 99,705 | 501,870 |
Purchases of securities held to maturity | -75,051 | -243,486 |
Purchases of securities available for sale | -16 | ' |
Purchases of interest-earning time deposits with banks | -200 | -2,200 |
(Purchases) redemptions of FRB and FHLB stock, net | -86 | 792 |
Repayments of loans receivable, net of originations | 7,337 | 6,543 |
Proceeds from sales of foreclosed real estate | 3,569 | 3,544 |
Purchases of premises and equipment, net | -509 | -75 |
Net cash provided by investing activities | 34,749 | 266,988 |
FINANCING ACTIVITIES | ' | ' |
Net decrease in deposits | -64,216 | -229,815 |
Net increase in mortgage escrow funds payable | 9,260 | 8,246 |
Net decrease in FHLB advances - original terms of more than 3 months | ' | -10,500 |
Redemption of preferred stock | -24,813 | ' |
Cash dividends paid to preferred stockholders | -5,068 | ' |
Proceeds from issuance of common stock upon exercise of options | 54 | ' |
Excess tax benefit from exercise of options and vesting of restricted stock | 150 | ' |
Net cash used in financing activities | -84,633 | -232,069 |
Net (decrease) increase in cash and cash equivalents | -30,142 | 64,405 |
Cash and cash equivalents at beginning of period | 60,395 | 29,863 |
Cash and cash equivalents at end of period | 30,253 | 94,268 |
SUPPLEMENTAL DISCLOSURES | ' | ' |
Cash paid for interest | 27,805 | 30,264 |
Cash paid for income taxes | 900 | 733 |
Loans transferred to foreclosed real estate | 3,040 | 1,457 |
Loans originated to finance sales of foreclosed real estate | 3,240 | 1,400 |
Preferred stock dividend requirements and amortization of related discount | $1,057 | $1,345 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Note 1 - Summary of Significant Accounting Policies | |
General | |
Intervest Bancshares Corporation (“IBC”) is the parent company of Intervest National Bank (“INB”). References in this report to “we,” “us” and “our” refer to these entities on a consolidated basis, unless otherwise specified. For a description of our business, see note 1 to the financial statements in our 2012 Annual Report on Form 10-K (“2012 10-K”). Our accounting and reporting policies conform to U.S. generally accepted accounting principles (GAAP) and general practices within the banking industry and are described in note 1 to the financial statements in our 2012 10-K, as updated by the information in this Form 10-Q. | |
Principles of Consolidation and Basis of Presentation | |
The condensed consolidated financial statements (“financial statements”) in this report have not been audited except for information derived from our audited 2012 consolidated financial statements and notes thereto and should be read in conjunction with our 2012 10-K. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in this report pursuant to the rules and regulations of the Securities and Exchange Commission. | |
Use of Estimates | |
In preparing our financial statements, we are required to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent liabilities as of the date of the financial statements, and revenues and expenses during the reporting periods. Actual results could differ from those estimates. Estimates that are particularly susceptible to significant change currently relate to the determination of our allowance for loan losses, valuation allowance for real estate losses, other than temporary impairment assessments of our security investments and the need for and amount of a valuation allowance for our deferred tax asset. These estimates involve a higher degree of complexity and subjectivity and may require assumptions about highly uncertain matters. Current market conditions increase the risk and complexity of the judgments in these estimates. In our opinion, all material adjustments necessary for a fair presentation of our financial condition and results of operations for the interim periods presented in this report have been made. These adjustments are of a normal recurring nature. All significant intercompany balances and transactions have been eliminated in consolidation. Our results of operations for the interim periods are not necessarily indicative of results that may be expected for the entire year or any other interim period. | |
Recent Accounting Standards Update | |
In July 2012, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (ASU) 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment,” which, among other things, gives an entity the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that an indefinite-lived intangible asset is impaired. We adopted this ASU on January 1, 2013, and since we do not have intangible assets, it had no impact on our financial statements. | |
In January 2013, the FASB issued ASU No. 2013-01, “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities,” which limits the scope of the new balance sheet offsetting disclosures in ASU 2011-11 to derivatives, repurchase agreements, and securities lending transactions to the extent that they are (1) offset in the financial statements or (2) subject to an enforceable master netting arrangement or similar agreement. We adopted this ASU on February 1, 2013 and it had no impact on our financial statements. | |
In February 2013, the FASB Issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which requires entities to present information about reclassification adjustments from accumulated other comprehensive income in their annual financial statements in a single note or on the face of the financial statements. We adopted this ASU on March 1, 2013 and it had no impact on our financial statements. | |
In February 2013, the FASB Issued ASU No. 2013-04, “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date”. ASU 2013-04 provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for obligations within the scope of this ASU, which is effective January 1, 2014. Upon adoption, we do not expect this ASU to impact our financial statements. | |
In July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” which among other things, require an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as denoted within the ASU. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. We are currently evaluating the impact of ASU 2013-11 on our financial statements. | |
In July 2013, the FASB issued ASU No. 2013-10, “Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes”. ASU No. 2013-10 permits the use of the Fed Funds Effective Swap Rate (OIS) to be used as a U.S. benchmark interest rate for hedge account purposes. The amendment is effective prospectively for qualifying new or redesiginated hedging relationships entered into on or after July 17, 2013. The adoption of ASU No. 2013-10 did have an impact on our financial statements. | |
Recent Regulatory Developments | |
Basel III Legislation | |
On July 2, 2013, the FRB approved the final rules implementing the Basel Committee on Banking Supervision’s capital guidelines for U.S. banks. Under the final rules, minimum requirements will increase for both the quantity and quality of capital held by INB. The rules include a new common equity Tier 1 capital to risk-weighted assets ratio of 4.5% and a common equity Tier 1 capital conservation buffer of 2.5% of risk-weighted assets. The final rules also raise the minimum ratio of Tier 1 capital to risk-weighted assets from 4.0% to 6.0% and require a minimum leverage ratio of 4.0%. The final rules also implement strict eligibility criteria for regulatory capital instruments. On July 9, 2013, the FDIC also approved, as an interim final rule, the regulatory capital requirements for U.S. banks, following the actions of the FRB. The FDIC’s rule is identical in substance to the final rules issued by the FRB. | |
The phase-in period for the final rules will begin for INB on January 1, 2015, with full compliance with all of the final rule’s requirements phased in over a multi-year schedule. We are currently evaluating the provisions of the final rules and their expected impact on us. | |
Securities_Held_to_Maturity_an
Securities Held to Maturity and Available for Sale | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Securities Held to Maturity and Available for Sale | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 2- Securities Held to Maturity and Available for Sale | |||||||||||||||||||||||||||||||||||||||||||||
The carrying value (amortized cost) and estimated fair value of securities held to maturity are as follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Number of | Amortized | Gross | Gross | Estimated | Wtd-Avg | Wtd-Avg | Wtd-Avg | |||||||||||||||||||||||||||||||||||||
Securities | Cost | Unrealized | Unrealized | Fair | Yield | Expected | Remaining | ||||||||||||||||||||||||||||||||||||||
Gains | Losses | Value | Life | Maturity | |||||||||||||||||||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies (1) | 176 | $333,124 | $ | 490 | $ | 4,163 | $ | 329,451 | 0.93% | 2.9 Yrs | 4.1 Yrs | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed (2) | 56 | 80,061 | 225 | 640 | 79,646 | 1.97% | 4.6 Yrs | 15.0 Yrs | |||||||||||||||||||||||||||||||||||||
State and municipal | 1 | 532 | - | 3 | 529 | 1.25% | 3.5 Yrs | 3.5 Yrs | |||||||||||||||||||||||||||||||||||||
Corporate (3) | 8 | 2,604 | - | 1,926 | 678 | 2.00% | 19.5 Yrs | 20.2 Yrs | |||||||||||||||||||||||||||||||||||||
241 | $416,321 | $ | 715 | $ | 6,732 | $ | 410,304 | 1.14% | 3.3Yrs | 6.3 Yrs | |||||||||||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies (1) | 165 | $355,244 | $ | 1,109 | $ | 233 | $ | 356,120 | 0.87% | 1.6 Yrs | 4.6 Yrs | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed (2) | 48 | 84,279 | 651 | 72 | 84,858 | 1.76% | 3.3 Yrs | 17.3 Yrs | |||||||||||||||||||||||||||||||||||||
State and municipal | 1 | 533 | - | 3 | 530 | 1.25% | 4.2 Yrs | 4.3 Yrs | |||||||||||||||||||||||||||||||||||||
Corporate (3) | 8 | 3,721 | - | 3,063 | 658 | 2.11% | 20.3 Yrs | 20.9 Yrs | |||||||||||||||||||||||||||||||||||||
222 | $443,777 | $ | 1,760 | $ | 3,371 | $ | 442,166 | 1.05% | 2.0 Yrs | 7.1 Yrs | |||||||||||||||||||||||||||||||||||
-1 | Consist of debt obligations of U.S. government sponsored agencies (GSEs) - Federal Home Loan Bank (FHLB), Federal Farm Credit Bank (FFCB), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC), which are federally chartered corporations privately owned by shareholders. GSE securities carry no explicit U.S. government guarantee of creditworthiness. Neither principal nor interest payments are guaranteed by the U.S. government nor do they not constitute a debt or obligation of the U.S. government or any of its agencies or instrumentalities other than the applicable GSE. In September 2008, FNMA and FHLMC were placed under U.S. government conservatorship. | ||||||||||||||||||||||||||||||||||||||||||||
-2 | At September 30, 2013, consisted of $14.5 million of Government National Mortgage Association (GNMA) pass-through certificates, $46.3 million of FNMA participation certificates and $19.3 million of FHLMC participation certificates. At December 31, 2012, consisted of $18.7 million of GNMA pass-through certificates, $40.0 million of FNMA participation certificates and $25.6 million of FHLMC participation certificates. The GNMA pass-through certificates are guaranteed as to the payment of principal and interest by the full faith and credit of the U.S. government while the FNMA and FHLMC certificates have an implied guarantee by such agency as to principal and interest payments. | ||||||||||||||||||||||||||||||||||||||||||||
-3 | Consist of variable-rate pooled trust preferred securities backed by obligations of companies in the banking industry. Amortized cost at September 30, 2013 and December 31, 2012 is reported net of other than temporary impairment charges of $5.2 million and $4.2 million, respectively. | ||||||||||||||||||||||||||||||||||||||||||||
The estimated fair values of securities held to maturity with gross unrealized losses segregated between securities that have been in a continuous unrealized loss position for less than twelve months at the respective dates and those that have been in a continuous unrealized loss position for twelve months or longer are summarized as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Less Than Twelve Months | Twelve Months or Longer | Total | |||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Number of | Estimated | Gross | Estimated | Gross | Estimated | Gross | ||||||||||||||||||||||||||||||||||||||
Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 137 | $257,171 | $4,163 | $ - | $ - | $257,171 | $4,163 | ||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed | 38 | 49,827 | 623 | 917 | 17 | 50,744 | 640 | ||||||||||||||||||||||||||||||||||||||
State and municipal | 1 | 529 | 3 | - | - | 529 | 3 | ||||||||||||||||||||||||||||||||||||||
Corporate | 8 | - | - | 678 | 1,926 | 678 | 1,926 | ||||||||||||||||||||||||||||||||||||||
184 | $307,527 | $4,789 | $1,595 | $1,943 | $309,122 | $6,732 | |||||||||||||||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 53 | $129,365 | $ 233 | $ - | $ - | $129,365 | $ 233 | ||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed | 14 | 24,481 | 72 | - | - | 24,481 | 72 | ||||||||||||||||||||||||||||||||||||||
State and municipal | 1 | 530 | 3 | - | - | 530 | 3 | ||||||||||||||||||||||||||||||||||||||
Corporate | 8 | - | - | 658 | 3,063 | 658 | 3,063 | ||||||||||||||||||||||||||||||||||||||
76 | $154,376 | $ 308 | $ 658 | $3,063 | $155,034 | $3,371 | |||||||||||||||||||||||||||||||||||||||
Nearly all of the securities we own are investment grade and have either fixed interest rates or have predetermined scheduled interest rate increases and nearly all have call or prepayment features that allow the issuer to repay all or a portion of the security at par before its stated maturity without penalty. In general, as interest rates rise, the estimated fair value of fixed-rate securities will decrease; as interest rates fall, their value will increase. We generally view changes in fair value caused by changes in interest rates as temporary, which is consistent with our experience. | |||||||||||||||||||||||||||||||||||||||||||||
INB, which holds the portfolio, has the ability and intent to hold all of these investments for a period of time sufficient for the estimated fair value of the securities with unrealized losses to recover, which may be at the time of maturity. Historically, INB has always recovered the cost of its investments in securities upon maturity. We view all the gross unrealized losses related to the agency, mortgaged-backed and state and municipal securities to be temporary for the reasons noted above. The estimated fair values disclosed in the preceding table for U.S. government agency, mortgage-backed and state and municipal securities are obtained from third-party brokers who provide quoted prices derived from active markets for identical or similar securities. | |||||||||||||||||||||||||||||||||||||||||||||
INB also owns trust preferred securities that are classified as held to maturity. The investments in these debt securities represent beneficial interests in securitized financial assets that have contractual cash flows. They consist of mezzanine-class, variable-rate (indexed to 3 month libor) pooled trust preferred securities backed by debt obligations of companies in the banking industry. At the time of purchase, these securities were investment grade rated. The current estimated fair values of these securities are depressed due to various reasons, including the weak economy, the financial condition of a large number of the issuing banks, a number of issuing banks that are no longer in business and restrictions that have been or can be placed on the payment of interest by regulatory agencies, all of which have severely reduced the demand for these securities and rendered their trading market inactive. There has been an adverse change in the estimated future cash flows from these securities due to the reasons cited above such that all of these securities have been other than temporarily impaired (OTTI) to varying degrees as denoted in the table that follows. | |||||||||||||||||||||||||||||||||||||||||||||
The following table provides various information regarding trust preferred securities. | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Credit | Cost | Write | Adj. | Estimated | Unrealized | % of Collateral | # of | Discount (4) | PV of | |||||||||||||||||||||||||||||||||||
Downs | Cost | Fair | Banks | Expected | |||||||||||||||||||||||||||||||||||||||||
Cusip # (1) | Rating (1) | Basis | -2 | Basis | Value (3) | Loss | Defaulted | Deferred | in Pool | Margin | Rate | Cash Flows | |||||||||||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
74041PAEO | C | $ 998 | $ (918) | $ 80 | $ 29 | $ (51) | 43.20% | 14.80% | 39 | 1.92% | 5.22% | $ 338 | |||||||||||||||||||||||||||||||||
74040XAD6 | CC | 995 | -485 | 510 | 176 | (334) | 17.20% | 9.80% | 54 | 1.64% | 5.17% | 978 | |||||||||||||||||||||||||||||||||
74040XAE4 | CC | 973 | -462 | 511 | 176 | (335) | 17.20% | 9.80% | 54 | 1.85% | 5.39% | 953 | |||||||||||||||||||||||||||||||||
74040XAE4 | CC | 973 | -462 | 511 | 176 | (335) | 17.20% | 9.80% | 54 | 1.85% | 5.39% | 953 | |||||||||||||||||||||||||||||||||
74040YAF9 | CC- | 900 | -767 | 133 | 33 | (100) | 29.00% | 5.90% | 58 | 1.88% | 5.32% | 769 | |||||||||||||||||||||||||||||||||
74040YAE2 | CC- | 919 | -787 | 132 | 33 | (99) | 29.00% | 5.90% | 58 | 1.70% | 5.14% | 785 | |||||||||||||||||||||||||||||||||
74041UAE9 | C+ | 1,021 | -658 | 363 | 27 | (336) | 8.00% | 29.00% | 64 | 1.36% | 4.78% | 725 | |||||||||||||||||||||||||||||||||
74041UAE9 | C+ | 1,022 | -658 | 364 | 28 | (336) | 8.00% | 29.00% | 64 | 1.39% | 4.81% | 724 | |||||||||||||||||||||||||||||||||
$7,801 | ($5,197) | $2,604 | $678 | $(1,926) | $6,225 | ||||||||||||||||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
74041PAEO | C | $ 999 | $ (797) | $ 202 | $ 31 | $ (171) | 39.23% | 13.76% | 39 | 1.92% | 4.04% | $ 348 | |||||||||||||||||||||||||||||||||
74040XAD6 | C+ | 1,010 | -316 | 694 | 180 | (514) | 16.31% | 9.19% | 54 | 1.64% | 3.97% | 989 | |||||||||||||||||||||||||||||||||
74040XAE4 | C+ | 988 | -294 | 694 | 180 | (514) | 16.31% | 9.19% | 54 | 1.85% | 4.18% | 959 | |||||||||||||||||||||||||||||||||
74040XAE4 | C+ | 988 | -294 | 694 | 180 | (514) | 16.31% | 9.19% | 54 | 1.85% | 4.18% | 959 | |||||||||||||||||||||||||||||||||
74040YAF9 | C | 952 | -718 | 234 | 32 | (202) | 27.24% | 13.28% | 58 | 1.88% | 4.04% | 642 | |||||||||||||||||||||||||||||||||
74040YAE2 | C | 972 | -737 | 235 | 32 | (203) | 27.24% | 13.28% | 58 | 1.70% | 3.86% | 655 | |||||||||||||||||||||||||||||||||
74041UAE9 | C+ | 1,022 | -539 | 483 | 11 | (472) | 7.80% | 31.17% | 64 | 1.36% | 3.61% | 638 | |||||||||||||||||||||||||||||||||
74041UAE9 | C+ | 1,023 | -538 | 485 | 12 | (473) | 7.80% | 31.17% | 64 | 1.39% | 3.64% | 636 | |||||||||||||||||||||||||||||||||
$7,954 | ($4,233) | $3,721 | $658 | $(3,063) | $5,826 | ||||||||||||||||||||||||||||||||||||||||
(1) All of these securities were on cash basis accounting because INB is currently not receiving all scheduled contractual interest payments on these securities. A large portion of the contractual cash flows for the interest payments on these securities are being redirected to a more senior class of bondholders to pay down the principal balance on the more senior class faster. This occurs when deferral and default activity reduces the security’s underlying performing collateral to a level where a predetermined coverage test fails and requires cash flows from interest payments to be redirected to a senior class of security holders. If no additional deferrals or defaults occur, such test will eventually be met again through the redirection of the cash flow and cash interest payments would resume on INB’s bonds, although no assurance can be given as to the amount and timing of the resumption, if any. In the first nine months of 2013, INB received payments on cusips# 74040XAD6, 74040XAE4, 74040YAF9 and 74040YAE2 totaling approximately $153,000. The credit rating represents a composite rating derived from third party credit rating agencies (Moody’s and Fitch). | |||||||||||||||||||||||||||||||||||||||||||||
(2) Writedowns are derived based on analysis of various factors and consider the difference between the book value of the security and the projected present value of the security’s cash flows as indicated per an analysis performed using guidance prescribed by GAAP. | |||||||||||||||||||||||||||||||||||||||||||||
Notes to the preceding table continued: | |||||||||||||||||||||||||||||||||||||||||||||
(3) Obtained from Moody’s pricing service, which uses a complex valuation model that factors in numerous assumptions and data, including anticipated discounts related to illiquid trading markets, credit and interest rate risk, which under GAAP would be considered Level 3 inputs. INB believes that the actual values that would be realized in an orderly market under normal credit conditions between a willing buyer and seller would approximate the projected present value (PV) of the securities’ cash flows and therefore, these estimated fair values are used for disclosure purposes only and are not used for calculating and recording impairment. INB also has the intent and the ability to retain these trust preferred securities until maturity and currently has no intention of selling them. We view the gross unrealized losses related to these securities to be temporary. | |||||||||||||||||||||||||||||||||||||||||||||
(4) In determining whether there is OTTI, INB relies on a cash flow analysis as prescribed under GAAP (ASC 320-10-35) and prepared by a third party specialist to determine whether conditions are such that the projected cash flows are insufficient to recover INB’s principal investment. The basic methodology under GAAP is to compare the present value of the cash flows that are derived from assumptions made with respect to deferrals, defaults and prepayments from quarter to quarter. A decline in the present value versus that for the previous quarter is considered to be an adverse change. The discount margin in the table above represents the incremental credit spread used to derive the discount rate for present value computations. Consistent with GAAP, we analyze the specific credit characteristics of the collateral underlying each individual security to develop the deferral/default assumptions for estimated cash flows. This analysis consists of examining available data regarding trends in earnings and capital and problem asset ratios of each bank in the collateral pool in order to estimate their capacity to continue principal and interest payments on the investments we own. In order to estimate the expected cash flows, we focused on each bank’s Texas ratio, which is defined as nonperforming assets plus 90 day past due loans divided by tangible equity plus loan loss reserves. We concluded that banks with Texas ratios of 75% or more may experience greater difficulties in making payments. Based on our judgment, we determined and used the following assumptions in projecting cash flows: for those banks that were in default, we assumed no cash flows, for those banks that had deferred payments, we assumed a 15% recovery after a 2 year lag, and for banks that were paying we assumed prepayments of 1% annually and 100% at maturity and annual defaults of 75 basis points. It should be noted that the results of any discounted cash flow analysis are significantly affected by variables such as the estimate of the probability of default, discount rates, prepayment rates and the creditworthiness of the underlying issuers. Therefore, changes in any of these assumptions could cause the results of our cash flow models and OTTI assessments to deviate and result in different conclusions. | |||||||||||||||||||||||||||||||||||||||||||||
The table below provides a cumulative roll forward of credit losses recognized on securities held to maturity for the periods indicated. | |||||||||||||||||||||||||||||||||||||||||||||
Quarter Ended September 30, | Nine-Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $4,924 | $3,808 | $4,233 | $3,651 | |||||||||||||||||||||||||||||||||||||||||
Additional credit losses on debt securities for which OTTI was previously recognized | 273 | - | 964 | 157 | |||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $5,197 | $3,808 | $5,197 | $3,808 | |||||||||||||||||||||||||||||||||||||||||
The following table is a summary of the carrying value (amortized cost) and fair value of securities held to maturity as of September 30, 2013, by remaining period to contractual maturity (ignoring earlier call dates, if any). Actual maturities may differ from contractual maturities because certain security issuers have the right to call or prepay their obligations. The amounts reported in the table below do not consider the effects of possible prepayments or unscheduled repayments of the securities held to maturity portfolio. | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Amortized | Estimated | Wtd-Avg | ||||||||||||||||||||||||||||||||||||||||||
Cost | Fair Value | Yield | |||||||||||||||||||||||||||||||||||||||||||
Due in one year or less | $ 17,094 | $ 17,196 | 1.24% | ||||||||||||||||||||||||||||||||||||||||||
Due after one year through five years | 243,465 | 241,627 | 0.85 | ||||||||||||||||||||||||||||||||||||||||||
Due after five years through ten years | 98,322 | 96,382 | 1.27 | ||||||||||||||||||||||||||||||||||||||||||
Due after ten years | 57,440 | 55,099 | 2.09 | ||||||||||||||||||||||||||||||||||||||||||
$416,321 | $410,304 | 1.14% | |||||||||||||||||||||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, the carrying value of securities available for sale amounted to approximately $1.0 million, which also approximated estimated fair value. The investment represented approximately 91,210 and 90,000 shares owned at September 30, 2013 and December 31, 2012, respectively, in an intermediate bond fund that holds securities that are deemed to be qualified under the Community Reinvestment Act. |
Loans_Receivable
Loans Receivable | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Loans Receivable | ' | ||||||||||||||||||||||||||||||||||||||||||||
Note 3 - Loans Receivable | |||||||||||||||||||||||||||||||||||||||||||||
Major classifications of loans receivable are summarized as follows: | |||||||||||||||||||||||||||||||||||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | # of Loans | Amount | # of Loans | Amount | |||||||||||||||||||||||||||||||||||||||||
Loans Secured By Real Estate: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 383 | $ 817,572 | 376 | $ 852,213 | |||||||||||||||||||||||||||||||||||||||||
Multifamily loans | 139 | 210,508 | 142 | 208,699 | |||||||||||||||||||||||||||||||||||||||||
One to four family loans | 19 | 68,662 | 13 | 41,676 | |||||||||||||||||||||||||||||||||||||||||
Land loans | 4 | 5,881 | 7 | 7,167 | |||||||||||||||||||||||||||||||||||||||||
545 | 1,102,623 | 538 | 1,109,755 | ||||||||||||||||||||||||||||||||||||||||||
All Other Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Business loans | 19 | 1,130 | 18 | 949 | |||||||||||||||||||||||||||||||||||||||||
Consumer loans | 14 | 347 | 12 | 359 | |||||||||||||||||||||||||||||||||||||||||
33 | 1,477 | 30 | 1,308 | ||||||||||||||||||||||||||||||||||||||||||
Loans receivable, gross | 578 | 1,104,100 | 568 | 1,111,063 | |||||||||||||||||||||||||||||||||||||||||
Deferred loan fees | (3,823) | (3,597) | |||||||||||||||||||||||||||||||||||||||||||
Loans receivable, net of deferred fees | 1,100,277 | 1,107,466 | |||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (26,777) | (28,103) | |||||||||||||||||||||||||||||||||||||||||||
Loans receivable, net | $1,073,500 | $1,079,363 | |||||||||||||||||||||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, there were $39.5 million and $45.9 million of loans, respectively, on nonaccrual status, and $11.4 million and $20.1 million of loans, respectively, classified as accruing TDRs. These loans represented all of our impaired loans as of those dates. | |||||||||||||||||||||||||||||||||||||||||||||
At September 30, 2013, there were seven loans totaling $18.4 million, compared to two loans totaling $4.4 million at December 31, 2012, that were 90 days past due and still accruing interest. This category normally consists of loans that have matured and were in the process of being extended, and the borrowers were making monthly payments. | |||||||||||||||||||||||||||||||||||||||||||||
The recorded investment, corresponding specific impairment valuation allowance and unpaid principal balance of our impaired loans at the dates indicated are summarized follows: | |||||||||||||||||||||||||||||||||||||||||||||
-1 | -2 | -3 | # of | ||||||||||||||||||||||||||||||||||||||||||
Recorded Investment by State | Specific | Total | Loans | ||||||||||||||||||||||||||||||||||||||||||
Valuation | Unpaid | ||||||||||||||||||||||||||||||||||||||||||||
Allowance | Principal | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | NY | FL | NJ | GA | CT | OH | SD | Total | |||||||||||||||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||||||
Retail | $ | 8,779 | $ | 9,005 | $ | - | $ | - | $ | 2,735 | $ | 1,000 | $ | - | $ | 21,519 | $1,661 | $28,446 | 7 | ||||||||||||||||||||||||||
Office Building | - | 15,242 | - | 8,695 | - | - | - | 23,937 | 1,977 | 24,451 | 3 | ||||||||||||||||||||||||||||||||||
Mixed Use | - | - | 500 | - | - | - | - | 500 | 25 | 500 | 1 | ||||||||||||||||||||||||||||||||||
Multifamily | - | 3,140 | - | - | - | - | - | 3,140 | 596 | 3,140 | 2 | ||||||||||||||||||||||||||||||||||
Land | - | - | - | - | - | - | 1,802 | 1,802 | 498 | 1,802 | 1 | ||||||||||||||||||||||||||||||||||
Totals | $ | 8,779 | $ | 27,387 | $ | 500 | $ | 8,695 | $ | 2,735 | $ | 1,000 | $ | 1,802 | $ | 50,898 | $4,757 | $58,339 | 14 | ||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||||||
Retail | $ | 11,837 | $ | 9,005 | $ | - | $ | - | $ | - | $ | 1,000 | $ | - | $ | 21,842 | $1,966 | $27,596 | 6 | ||||||||||||||||||||||||||
Office Building | - | 17,988 | 883 | - | - | - | - | 18,871 | 583 | 19,621 | 3 | ||||||||||||||||||||||||||||||||||
Warehouse | 950 | - | - | - | - | - | - | 950 | 28 | 950 | 1 | ||||||||||||||||||||||||||||||||||
Mixed Use | 8,632 | - | 500 | - | - | - | - | 9,132 | 1,248 | 9,421 | 4 | ||||||||||||||||||||||||||||||||||
Multifamily | - | 12,577 | - | - | - | - | - | 12,577 | 1,542 | 14,225 | 6 | ||||||||||||||||||||||||||||||||||
Land | 515 | - | - | - | - | - | 2,086 | 2,601 | 521 | 2,601 | 3 | ||||||||||||||||||||||||||||||||||
Totals | $ | 21,934 | $ | 39,570 | $ | 1,383 | $ | - | $ | - | $ | 1,000 | $ | 2,086 | $ | 65,973 | $5,888 | $74,414 | 23 | ||||||||||||||||||||||||||
-1 | Represents contractual unpaid principal less any partial principal chargeoffs and interest received and applied as a reduction of principal. | ||||||||||||||||||||||||||||||||||||||||||||
-2 | Represents a specific valuation allowance against the recorded investment included as part of the overall allowance for loan losses. All impaired loans at the dates indicated in the table had a specific valuation allowance. | ||||||||||||||||||||||||||||||||||||||||||||
-3 | Represents contractual unpaid principal balance (shown for informational purposes only). The borrowers are obligated to pay such amounts, however the ultimate collection by us of such amounts in this column cannot be assured. | ||||||||||||||||||||||||||||||||||||||||||||
Other information related to our impaired loans is summarized as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Quarter Ended | Nine-Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Average recorded investment in nonaccrual loans | $ | 39,159 | $ | 49,788 | $ | 41,039 | $ | 53,809 | |||||||||||||||||||||||||||||||||||||
Total cash basis interest income recognized on nonaccrual loans | 521 | 633 | 1,729 | 2,055 | |||||||||||||||||||||||||||||||||||||||||
Average recorded investment in accruing TDR loans | 11,423 | 14,380 | 14,482 | 10,341 | |||||||||||||||||||||||||||||||||||||||||
Total interest income recognized on accruing TDR loans under modified terms | 152 | 233 | 581 | 493 | |||||||||||||||||||||||||||||||||||||||||
Age analysis of our loan portfolio by segment at September 30, 2013 is summarized as follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Total | Current | Past Due | Past Due | Past Due | Total | Total | ||||||||||||||||||||||||||||||||||||||
Portfolio | 31-59 | 60-89 | 90 or more | Past Due | Classified | ||||||||||||||||||||||||||||||||||||||||
Days | Days | Days | Nonaccrual | ||||||||||||||||||||||||||||||||||||||||||
Accruing Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ 780,338 | $ 758,670 | $ - | $ 3,265 | $ 18,403 | $21,668 | $ - | ||||||||||||||||||||||||||||||||||||||
Multifamily | 208,225 | 208,225 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
One to four family | 68,662 | 68,662 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Land | 5,881 | 5,881 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
All other | 1,477 | 1,477 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Total accruing loans | 1,064,583 | 1,042,915 | - | 3,265 | 18,403 | 21,668 | - | ||||||||||||||||||||||||||||||||||||||
Nonaccrual Loans (1): | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 37,234 | 36,720 | - | - | 514 | 514 | 37,234 | ||||||||||||||||||||||||||||||||||||||
Multifamily | 2,283 | 2,283 | - | - | - | - | 2,283 | ||||||||||||||||||||||||||||||||||||||
Total nonaccrual loans | 39,517 | 39,003 | - | - | 514 | 514 | 39,517 | ||||||||||||||||||||||||||||||||||||||
Total loans | $1,104,100 | $1,081,918 | $ - | $3,265 | $18,917 | $22,182 | $39,517 | ||||||||||||||||||||||||||||||||||||||
Age analysis of our loan portfolio by segment at December 31, 2012 is summarized as follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Total | Current | Past Due | Past Due | Past Due | Total | Total | ||||||||||||||||||||||||||||||||||||||
Portfolio | 31-59 | 60-89 | 90 or more | Past Due | Classified | ||||||||||||||||||||||||||||||||||||||||
Days | Days | Days | Nonaccrual | ||||||||||||||||||||||||||||||||||||||||||
Accruing Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ 816,357 | $ 799,130 | $12,836 | $ - | $ 4,391 | $17,227 | $ - | ||||||||||||||||||||||||||||||||||||||
Multifamily | 198,942 | 198,942 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
One to four family | 41,676 | 41,676 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Land | 6,882 | 4,221 | 2,661 | - | - | 2,661 | - | ||||||||||||||||||||||||||||||||||||||
All other | 1,308 | 1,308 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Total accruing loans | 1,065,165 | 1,045,277 | 15,497 | - | 4,391 | 19,888 | - | ||||||||||||||||||||||||||||||||||||||
Nonaccrual Loans (1): | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 35,856 | 32,701 | - | - | 3,155 | 3,155 | 35,856 | ||||||||||||||||||||||||||||||||||||||
Multifamily | 9,757 | 7,261 | - | - | 2,496 | 2,496 | 9,757 | ||||||||||||||||||||||||||||||||||||||
Land | 285 | 285 | - | - | - | - | 285 | ||||||||||||||||||||||||||||||||||||||
Total nonaccrual loans | 45,898 | 40,247 | - | - | 5,651 | 5,651 | 45,898 | ||||||||||||||||||||||||||||||||||||||
Total loans | $1,111,063 | $1,085,524 | $15,497 | $ - | $10,042 | $25,539 | $45,898 | ||||||||||||||||||||||||||||||||||||||
-1 | The amount of nonaccrual loans in the current column included $35.8 million of TDRs at September 30, 2013 and $36.3 million of TDRs at December 31, 2012 for which payments are being made in accordance with their restructured terms, but the loans were maintained on nonaccrual status in accordance with regulatory guidance. The remaining portion at both dates was comprised of certain paying loans classified nonaccrual due to concerns regarding the borrowers’ ability to continue making payments. Interest income from loan payments on all loans in nonaccrual status is recognized on a cash basis, provided the remaining principal balance is deemed collectible. | ||||||||||||||||||||||||||||||||||||||||||||
Information regarding the credit quality of the loan portfolio based on internally assigned grades follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Pass | Special Mention | Substandard (1) | Total | |||||||||||||||||||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ 743,233 | $15,183 | $59,156 | $ 817,572 | |||||||||||||||||||||||||||||||||||||||||
Multifamily | 204,994 | 2,374 | 3,140 | 210,508 | |||||||||||||||||||||||||||||||||||||||||
One to four family | 68,662 | - | - | 68,662 | |||||||||||||||||||||||||||||||||||||||||
Land | 4,079 | - | 1,802 | 5,881 | |||||||||||||||||||||||||||||||||||||||||
All other | 1,477 | - | - | 1,477 | |||||||||||||||||||||||||||||||||||||||||
Total loans | $1,022,445 | $17,557 | $64,098 | $1,104,100 | |||||||||||||||||||||||||||||||||||||||||
Allocation of allowance for loan losses | $ 20,626 | $ 410 | $ 5,741 | $ 26,777 | |||||||||||||||||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ 775,136 | $17,041 | $60,036 | $ 852,213 | |||||||||||||||||||||||||||||||||||||||||
Multifamily | 193,738 | 2,384 | 12,577 | 208,699 | |||||||||||||||||||||||||||||||||||||||||
One to four family | 41,676 | - | - | 41,676 | |||||||||||||||||||||||||||||||||||||||||
Land | 4,566 | - | 2,601 | 7,167 | |||||||||||||||||||||||||||||||||||||||||
All other | 1,308 | - | - | 1,308 | |||||||||||||||||||||||||||||||||||||||||
Total loans | $1,016,424 | $19,425 | $75,214 | $1,111,063 | |||||||||||||||||||||||||||||||||||||||||
Allocation of allowance for loan losses | $ 20,037 | $ 443 | $ 7,623 | $ 28,103 | |||||||||||||||||||||||||||||||||||||||||
-1 | Substandard loans consist of $39.5 million of nonaccrual loans, $6.0 million of accruing TDRs and $18.6 million of other performing loans at September 30, 2013, compared to $45.9 million of nonaccrual loans, $20.1 million of accruing TDRs and $9.2 million of other performing loans at December 31, 2012. At September 30, 2013, we also had one accruing TDR for $5.4 million which was rated pass. | ||||||||||||||||||||||||||||||||||||||||||||
The geographic distribution of the loan portfolio by state follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | At September 30, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
Amount | % of Total | Amount | % of Total | ||||||||||||||||||||||||||||||||||||||||||
New York | $ 667,265 | 60.0% | $ | 717,141 | 64.5% | ||||||||||||||||||||||||||||||||||||||||
Florida | 314,274 | 29.0 | 286,619 | 25.8 | |||||||||||||||||||||||||||||||||||||||||
New Jersey | 18,125 | 1.6 | 26,425 | 2.4 | |||||||||||||||||||||||||||||||||||||||||
North Carolina | 17,746 | 1.6 | 14,256 | 1.3 | |||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 17,022 | 1.5 | 10,270 | 0.9 | |||||||||||||||||||||||||||||||||||||||||
Georgia | 16,246 | 1.5 | 11,752 | 1.1 | |||||||||||||||||||||||||||||||||||||||||
Virginia | 11,560 | 1.0 | 11,758 | 1.1 | |||||||||||||||||||||||||||||||||||||||||
Kentucky | 10,619 | 1.0 | 7,512 | 0.7 | |||||||||||||||||||||||||||||||||||||||||
South Carolina | 9,272 | 0.8 | 5,853 | 0.5 | |||||||||||||||||||||||||||||||||||||||||
Connecticut | 8,482 | 0.8 | 11,216 | 1.0 | |||||||||||||||||||||||||||||||||||||||||
Tennessee | 5,626 | 0.5 | 770 | 0.0 | |||||||||||||||||||||||||||||||||||||||||
Ohio | 2,236 | 0.2 | 2,260 | 0.2 | |||||||||||||||||||||||||||||||||||||||||
South Dakota | 1,802 | 0.2 | 2,086 | 0.2 | |||||||||||||||||||||||||||||||||||||||||
All other states | 3,825 | 0.3 | 3,145 | 0.3 | |||||||||||||||||||||||||||||||||||||||||
$1,104,100 | 100.0% | $ | 1,111,063 | 100.0% | |||||||||||||||||||||||||||||||||||||||||
Information regarding loans restructured during the nine-months ended September 30, 2013 follows: | |||||||||||||||||||||||||||||||||||||||||||||
Number | Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | of Loans | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||||||||||
Commercial real estate – interest rate reduced | 2 | $9,159 | $9,159 | ||||||||||||||||||||||||||||||||||||||||||
Information regarding loans restructured during the nine-months ended September 30, 2012 is as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Number | Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||||
of Loans | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||||||||||||||
Land – extended maturity date | 2 | $520 | $520 | ||||||||||||||||||||||||||||||||||||||||||
During the nine-months ended September 30, 2013, there was one TDR (which loan was modified within the previous 12 months) in the amount of $3.0 million that defaulted in March 2013. This loan subsequently was paid off in June 2013. During the nine-months ended September 30, 2013, one TDR in the amount of $1.9 million matured. This loan was re-financed by INB and transferred to a performing non-TDR category since the borrower was no longer experiencing financial difficulties. For the nine-months ended September 30, 2012, there were no TDRs that defaulted or TDRs transferred to a non-TDR loan category. | |||||||||||||||||||||||||||||||||||||||||||||
The distribution of TDRs by accruing versus non-accruing, by loan type and by geographic distribution follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | At September 30, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
Performing - nonaccrual status | $35,768 | $36,291 | |||||||||||||||||||||||||||||||||||||||||||
Performing - accrual status | 11,381 | 20,076 | |||||||||||||||||||||||||||||||||||||||||||
$47,149 | $56,367 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $42,207 | $43,685 | |||||||||||||||||||||||||||||||||||||||||||
Multifamily | 3,140 | 10,081 | |||||||||||||||||||||||||||||||||||||||||||
Land | 1,802 | 2,601 | |||||||||||||||||||||||||||||||||||||||||||
$47,149 | $56,367 | ||||||||||||||||||||||||||||||||||||||||||||
New York | $ 8,265 | $18,478 | |||||||||||||||||||||||||||||||||||||||||||
Florida | 27,387 | 33,920 | |||||||||||||||||||||||||||||||||||||||||||
New Jersey | - | 883 | |||||||||||||||||||||||||||||||||||||||||||
Georgia | 8,695 | - | |||||||||||||||||||||||||||||||||||||||||||
Ohio | 1,000 | 1,000 | |||||||||||||||||||||||||||||||||||||||||||
South Dakota | 1,802 | 2,086 | |||||||||||||||||||||||||||||||||||||||||||
$47,149 | $56,367 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance_for_Loan_Losses
Allowance for Loan Losses | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Allowance for Loan Losses | ' | ||||||||||||||||||||||||
Note 4 - Allowance for Loan Losses | |||||||||||||||||||||||||
Activity in the allowance for loan losses by loan type for the periods indicated is as follows: | |||||||||||||||||||||||||
($ in thousands) | Commercial | Multifamily | One to Four | Land | All Other | Total | |||||||||||||||||||
Real Estate | Family | ||||||||||||||||||||||||
Quarter Ended September 30, 2013 | |||||||||||||||||||||||||
Balance at beginning of period | $17,596 | $5,098 | $2,795 | $ 956 | $10 | $26,455 | |||||||||||||||||||
Loan chargeoffs | - | - | - | - | - | - | |||||||||||||||||||
Loan recoveries (1) | 67 | 5 | - | - | - | 72 | |||||||||||||||||||
Provision (credit) for loan losses | (175 | ) | 212 | 229 | (15 | ) | (1 | ) | 250 | ||||||||||||||||
Balance at end of period | $17,488 | $5,315 | $3,024 | $ 941 | $ 9 | $26,777 | |||||||||||||||||||
Quarter Ended September 30, 2012 | |||||||||||||||||||||||||
Balance at beginning of period | $18,343 | $8,480 | $ 502 | $1,509 | $10 | $28,844 | |||||||||||||||||||
Loan chargeoffs | (548 | ) | - | - | - | - | (548) | ||||||||||||||||||
Loan recoveries | 63 | 23 | - | - | - | 86 | |||||||||||||||||||
Provision (credit) for loan losses | 468 | (381 | ) | 250 | (337 | ) | - | - | |||||||||||||||||
Balance at end of period | $18,326 | $8,122 | $ 752 | $1,172 | $10 | $28,382 | |||||||||||||||||||
Activity in the allowance for loan losses by loan type for the periods indicated is as follows: | |||||||||||||||||||||||||
($ in thousands) | Commercial | Multifamily | One to Four | Land | All Other | Total | |||||||||||||||||||
Real Estate | Family | ||||||||||||||||||||||||
Nine-Months Ended September 30, 2013 | |||||||||||||||||||||||||
Balance at beginning of period | $19,051 | $6,881 | $1,120 | $1,043 | $ 8 | $28,103 | |||||||||||||||||||
Loan chargeoffs | (1,932 | ) | (6 | ) | - | - | - | (1,938) | |||||||||||||||||
Loan recoveries (1) | 947 | 682 | - | 483 | - | 2,112 | |||||||||||||||||||
Provision (credit) for loan losses | (578 | ) | (2,242 | ) | 1,904 | (585 | ) | 1 | (1,500) | ||||||||||||||||
Balance at end of period | $17,488 | $5,315 | $3,024 | $ 941 | $ 9 | $26,777 | |||||||||||||||||||
Nine-Months Ended September 30, 2012 | |||||||||||||||||||||||||
Balance at beginning of period | $19,156 | $8,848 | $332 | $2,069 | $10 | $30,415 | |||||||||||||||||||
Loan chargeoffs | (2,215 | ) | (261 | ) | - | - | - | (2,476) | |||||||||||||||||
Loan recoveries | 383 | 60 | - | - | - | 443 | |||||||||||||||||||
Provision for loan losses | 1,002 | (525 | ) | 420 | (897 | ) | - | - | |||||||||||||||||
Balance at end of period | $18,326 | $8,122 | $752 | $1,172 | $10 | $28,382 | |||||||||||||||||||
-1 | See note 14 to financial statements in this report for a discussion on recoveries. | ||||||||||||||||||||||||
The following tables set forth the balances of our loans receivable by segment and impairment evaluation and the allowance for loan losses associated with such loans at the dates indicated. | |||||||||||||||||||||||||
($ in thousands) | Commercial | Multifamily | One to Four | Land | All Other | Total | |||||||||||||||||||
Real Estate | Family | ||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ 45,955 | $ 3,141 | $ - | $1,802 | $ - | $ 50,898 | |||||||||||||||||||
Collectively evaluated for impairment | 771,617 | 207,367 | 68,662 | 4,079 | 1,477 | 1,053,202 | |||||||||||||||||||
Total loans | $817,572 | $210,508 | $68,662 | $5,881 | $1,477 | $1,104,100 | |||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Individually evaluated for impairment (1) | $ 3,663 | $ 596 | $ - | $ 498 | $ - | $ 4,757 | |||||||||||||||||||
Collectively evaluated for impairment | 13,825 | 4,719 | 3,024 | 443 | 9 | 22,020 | |||||||||||||||||||
Total allowance for loan losses | $ 17,488 | $ 5,315 | $3,024 | $ 941 | $ 9 | $ 26,777 | |||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ 50,795 | $ 12,577 | $ - | $2,601 | $ - | $ 65,973 | |||||||||||||||||||
Collectively evaluated for impairment | 801,418 | 196,122 | 41,676 | 4,566 | 1,308 | 1,045,090 | |||||||||||||||||||
Total loans | $852,213 | $208,699 | $41,676 | $7,167 | $1,308 | $1,111,063 | |||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Individually evaluated for impairment (1) | $ 3,825 | $ 1,542 | $ - | $ 521 | $ - | $ 5,888 | |||||||||||||||||||
Collectively evaluated for impairment | 15,226 | 5,339 | 1,120 | 522 | 8 | 22,215 | |||||||||||||||||||
Total allowance for loan losses | $ 19,051 | $ 6,881 | $ 1,120 | $1,043 | $ 8 | $ 28,103 | |||||||||||||||||||
(1) See note 3 to financial statements in this report. |
Foreclosed_Real_Estate_and_Val
Foreclosed Real Estate and Valuation Allowance for Real Estate Losses | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||
Foreclosed Real Estate and Valuation Allowance for Real Estate Losses | ' | ||||||||||||||||
Note 5 - Foreclosed Real Estate and Valuation Allowance for Real Estate Losses | |||||||||||||||||
Real estate acquired through foreclosure by property type is summarized as follows: | |||||||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||||||
($ in thousands) | # of Properties | Amount (1) | # of Properties | Amount (1) | |||||||||||||
Commercial real estate | 3 | $ 5,334 | 2 | $2,790 | |||||||||||||
Multifamily | 1 | 6,685 | 3 | 12,000 | |||||||||||||
Land | - | - | 1 | 1,133 | |||||||||||||
Real estate acquired through foreclosure | 4 | $12,019 | 6 | $15,923 | |||||||||||||
(1) Reported net of any associated valuation allowance. | |||||||||||||||||
Activity in the valuation allowance for real estate losses is summarized as follows: | |||||||||||||||||
Quarter Ended | Nine-Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Valuation allowance at beginning of period | $6,044 | $7,945 | $5,339 | $6,037 | |||||||||||||
Provision for real estate losses | 250 | 1,025 | 955 | 2,933 | |||||||||||||
Real estate chargeoffs | (4,171 | ) | (3,642 | ) | (4,171 | ) | (3,642) | ||||||||||
Valuation allowance at end of period | $2,123 | $5,328 | $2,123 | $5,328 | |||||||||||||
Deposits
Deposits | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||
Deposits | ' | ||||||||||||
Note 6 - Deposits | |||||||||||||
Scheduled maturities of certificates of deposit accounts (CDs) are as follows: | |||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||
($ in thousands) | Amount | Wtd-Avg | Amount | Wtd-Avg | |||||||||
Stated Rate | Stated Rate | ||||||||||||
Within one year | $434,055 | 2.91% | $519,236 | 2.92% | |||||||||
Over one to two years | 175,921 | 2.02 | 181,698 | 2.79 | |||||||||
Over two to three years | 108,008 | 2.25 | 89,049 | 2.74 | |||||||||
Over three to four years | 105,813 | 2.60 | 60,119 | 3.02 | |||||||||
Over four years | 73,615 | 2.02 | 86,776 | 2.93 | |||||||||
$897,412 | 2.54% | $936,878 | 2.89% | ||||||||||
CDs of $100,000 or more totaled $467 million at September 30, 2013 and $463 million at December 31, 2012 and included brokered CDs of $85 million and $78 million, respectively. | |||||||||||||
At September 30, 2013, all CDs of $100,000 or more (inclusive of brokered CDs) by remaining maturity were as follows: $220 million due within one year; $77 million due over one to two years; $60 million due over two to three years; $64 million due over three to four years; and $46 million due thereafter. At September 30, 2013, brokered CDs had a weighted average rate of 3.48% and their remaining maturities were as follows: $32 million due within one year; $5 million due over one to two years; $8 million due over two to three years; $24 million due over three to four years and $16 million due over four years. |
Lines_of_Credit
Lines of Credit | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||
Lines of Credit | ' | ||||||||||||||||||||
Note 7 - Lines of Credit | |||||||||||||||||||||
At September 30, 2013, INB had $24 million of unsecured credit lines that were cancelable by the lender at any time. As a member of the Federal Home Loan Bank of New York (FHLB) and the Federal Reserve Bank of New York (FRB), INB can borrow from these institutions on a secured basis. At September 30, 2013, INB had available collateral consisting of investment securities and certain loans that could be pledged to support additional total borrowings of approximately $441 million from the FHLB and FRB, if needed. There were no borrowings during 2013. | |||||||||||||||||||||
The following is a summary of certain information regarding FHLB advances in the aggregate. | |||||||||||||||||||||
At or For the Quarter Ended | At or For the Nine-Months Ended | ||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Balance at period end | - | $ 7,000 | - | $ 7,000 | |||||||||||||||||
Maximum amount outstanding at any month end for the period | - | $10,500 | - | $13,500 | |||||||||||||||||
Average outstanding balance for the period | - | $ 9,511 | - | $11,215 | |||||||||||||||||
Weighted-average interest rate paid for the period | - | 4.31% | - | 4.26% | |||||||||||||||||
Weighted-average interest rate at period end | - | 4.22% | - | 4.22% |
Subordinated_Debentures_Capita
Subordinated Debentures - Capital Securities | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
Subordinated Debentures - Capital Securities | ' | ||||||||||||||||||||
Note 8 - Subordinated Debentures - Capital Securities | |||||||||||||||||||||
Capital Securities (commonly referred to as trust preferred securities) outstanding are summarized as follows: | |||||||||||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||||||||||
($ in thousands) | Principal | Accrued | Interest | Principal | Accrued | Interest | |||||||||||||||
Interest | Rate | Interest | Rate | ||||||||||||||||||
Payable | Payable | ||||||||||||||||||||
Capital Securities II - debentures due September 17, 2033 | $15,464 | $147 | 3.20% | $15,464 | $1,661 | 3.26% | |||||||||||||||
Capital Securities III - debentures due March 17, 2034 | 15,464 | 139 | 3.04% | 15,464 | 1,577 | 3.10% | |||||||||||||||
Capital Securities IV - debentures due September 20, 2034 | 15,464 | 119 | 2.65% | 15,464 | 1,370 | 2.71% | |||||||||||||||
Capital Securities V - debentures due December 15, 2036 | 10,310 | 58 | 1.90% | 10,310 | 1,620 | 1.96% | |||||||||||||||
$56,702 | $463 | $56,702 | $6,228 | ||||||||||||||||||
The securities are obligations of IBC’s wholly owned statutory business trusts, Intervest Statutory Trust II, III, IV and V, respectively. Each Trust was formed with a capital contribution from IBC and for the sole purpose of issuing and administering the Capital Securities. The proceeds from the issuance of the Capital Securities together with the capital contribution for each Trust were used to acquire IBC’s Junior Subordinated Debentures (the “Debentures”) that are due concurrently with the Capital Securities. The Capital Securities, net of IBC’s capital contributions of $1.7 million, total $55 million and qualify as regulatory Tier 1 capital up to certain limits. IBC has guaranteed the payment of distributions on, payments on any redemptions of, and any liquidation distribution with respect to the Capital Securities. Issuance costs associated with Capital Securities II, III and IV were capitalized and are being amortized over the contractual life of the securities using the straight-line method. The unamortized balance totaled approximately $0.7 million at September 30, 2013. There were no issuance costs for Capital Securities V. | |||||||||||||||||||||
Interest payments on the Debentures (and the corresponding distributions on the Capital Securities) are payable in arrears as follows: | |||||||||||||||||||||
— | Capital Securities II - quarterly at the rate of 2.95% over 3 month libor; | ||||||||||||||||||||
— | Capital Securities III - quarterly at the rate of 2.79% over 3 month libor; | ||||||||||||||||||||
— | Capital Securities IV- quarterly at the rate of 2.40% over 3 month libor; and | ||||||||||||||||||||
— | Capital Securities V - quarterly at the rate of 1.65% over 3 month libor. | ||||||||||||||||||||
Interest payments may be deferred at any time and from time to time during the term of the Debentures at IBC’s election for up to 20 consecutive quarterly periods, or 5 years, with no limitations on the number of deferral periods IBC may elect, provided, however, no deferral period may extend beyond the maturity date of the Debentures. During an interest deferral period, interest will continue to accrue on the Debentures and interest on such accrued interest will accrue at an annual rate equal to the interest rate in effect for such deferral period, compounded quarterly from the date such interest would have been payable were it not deferred. At the end of the deferral period, IBC will be obligated to pay all interest then accrued and unpaid. During the deferral period, among other restrictions, IBC and any affiliate cannot, subject to certain exceptions: (i) declare or pay any dividends or distributions on, or redeem, purchase or acquire any capital stock of IBC or its affiliates (other than payment of dividends to IBC); or (ii) make any payment of principal or interest or premium on, or repay, repurchase or redeem any debt securities of IBC or its affiliates that rank pari passu with or junior to the Debentures. In February 2010, as required by its primary regulator, IBC exercised its right to defer interest payments as described above. In June 2013, IBC, with approval from its regulator, repaid all accrued interest payments in arrears as of that date on the Debentures. In September 2013, IBC again exercised its right to defer interest payments on the Debentures due to the restrictions of its written agreement with its regulator. | |||||||||||||||||||||
The Capital Securities are subject to mandatory redemption as follows: (i) in whole, but not in part, upon repayment of the Debentures at stated maturity or earlier, at the option of IBC, within 90 days following the occurrence and continuation of certain changes in the tax or capital treatment of the Capital Securities, or a change in law such that the statutory trust would be considered an investment company, contemporaneously with the redemption by IBC of the Debentures; and (ii) in whole or in part at any time contemporaneously with the optional redemption by IBC of the Debentures in whole or in part. Any redemption would be subject to the receipt of regulatory approvals. |
Stockholders_Equity_and_Redemp
Stockholders' Equity and Redemption of Preferred Stock | 9 Months Ended |
Sep. 30, 2013 | |
Equity [Abstract] | ' |
Stockholders' Equity and Redemption of Preferred Stock | ' |
Note 9 - Stockholders’ Equity and Redemption of Preferred Stock | |
IBC is authorized to issue up to 62.3 million shares of its capital stock, consisting of 62 million shares of common stock and 300,000 shares of preferred stock. IBC’s board of directors determines the powers, preferences and rights, and the qualifications, limitations, and restrictions thereof on any series of preferred stock issued. | |
From December 23, 2008 through June 24, 2013 a total of 25,000 shares of preferred stock were designated as Series A (the “Preferred Stock”) and were owned by the U.S. Department of the Treasury (the “Treasury”). The Preferred Stock was issued to the Treasury by IBC in connection with IBC’s participation in the Capital Purchase Program (the “CPP”) under the Treasury’s Troubled Asset Relief Program (“TARP”), together with a ten-year warrant (the “Warrant”) to purchase 691,882 shares of IBC’s common stock at an exercise price of $5.42 per share. As described in greater detail in note 10 to the financial statements in our 2012 10-K, in February 2010, IBC ceased the declaration and payment of dividends on the Preferred Stock as required by IBC’s primary regulator. | |
On June 6, 2013, the Treasury announced its intent to sell its investment in IBC’s Preferred Stock, along with similar investments the Treasury had made in five other financial institutions, primarily to qualified institutional buyers and certain institutional accredited investors. IBC sought and obtained regulatory approvals allowing it to participate in the auction. Using a modified Dutch auction methodology that established a market price by allowing investors to submit bids at specified increments during the period from June 10 through June 13, 2013, the Treasury auctioned all of IBC’s 25,000 shares of Preferred Stock. IBC was the winning bidder on 6,250 shares of the Preferred Stock and the remaining 18,750 shares were purchased by unrelated third parties. The closing price of the auctioned shares was $970.00 per share. On June 24, 2013, IBC completed the repurchase of 6,250 shares of the Preferred Stock from the Treasury and those shares were retired. The shares were repurchased for $6.1 million, plus an additional $1.2 million in accrued and unpaid dividends through June 24, 2013, for a total of $7.3 million. | |
On August 15, 2013, IBC redeemed the remaining 18,750 shares of the Preferred Stock held by the unrelated third parties for a purchase price equaling the stated liquidation value of $1,000 per share, plus accumulated and unpaid dividends earned through August 15, 2013. The total cost of redeeming these shares was $22.6 million, which included $3.9 million of preferred dividends. IBC received all necessary regulatory approvals to complete the redemption. The Treasury continues to hold the Warrant as of September 30, 2013. |
Common_Stock_Warrant_Options_a
Common Stock Warrant, Options and Restricted Common Stock | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||
Common Stock Warrant, Options and Restricted Common Stock | ' | ||||||||||||||||||||||||||||||||
Note 10 - Common Stock Warrant, Options and Restricted Common Stock | |||||||||||||||||||||||||||||||||
IBC has shareholder-approved plans, the 2006 Long Term Incentive Plan and the 2013 Equity Incentive Plan (together referred to as the “Plans”) under which stock options, restricted stock and other forms of incentive compensation may be awarded from time to time to officers, employees and directors of IBC and its subsidiaries. The maximum number of shares of common stock that may be awarded under the Plans is 2,250,000. At September 30, 2013, 777,993 shares of common stock were available for award under the Plans. There were no awards of stock options in the first nine months of 2013 or 2012. | |||||||||||||||||||||||||||||||||
A summary of activity in outstanding common stock options and related information follows: | |||||||||||||||||||||||||||||||||
Exercise Price Per Warrant/Option | Wtd-Avg. | ||||||||||||||||||||||||||||||||
Exercise | |||||||||||||||||||||||||||||||||
$5.42 (1) | $17.10 | $7.50 | $4.02 | $3.00 | $2.55 | Total | Price | ||||||||||||||||||||||||||
($ in thousands, except per share amounts) | |||||||||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 691,882 | 116,640 | 120,190 | 68,910 | 38,200 | 42,300 | 1,078,122 | $6.63 | |||||||||||||||||||||||||
Forfeited/expired (2) | - | (1,200 | ) | (1,200 | ) | (1,100 | ) | (1,900 | ) | (3,300) | (8,700) | $5.52 | |||||||||||||||||||||
Options exercised | - | - | - | (9,600 | ) | (3,200 | ) | (2,167) | (14,967) | $3.59 | |||||||||||||||||||||||
Outstanding at September 30, 2013 | 691,882 | 115,440 | 118,990 | 58,210 | 33,100 | 36,833 | 1,054,455 | $6.68 | |||||||||||||||||||||||||
Expiration date | 12/23/18 | 12/13/17 | 12/11/18 | 12/10/19 | 12/9/20 | 12/08/21 | |||||||||||||||||||||||||||
Vested and exercisable (3) | 100% | 100% | 100% | 100% | 67% | 33% | 96% | ||||||||||||||||||||||||||
Wtd-avg contractual remaining term (in years) | 5.2 | 4.2 | 5.2 | 6.2 | 7.2 | 8.2 | 5.4 | ||||||||||||||||||||||||||
Intrinsic value at September 30, 2013 (4) | $1,737 | - | $51 | $228 | $163 | $198 | $2,377 | ||||||||||||||||||||||||||
-1 | This is the warrant held by the U.S. Treasury as described in note 9 to the financial statements in this report. | ||||||||||||||||||||||||||||||||
-2 | Represent options forfeited or expired unexercised. | ||||||||||||||||||||||||||||||||
-3 | The $3.00 options further vest and become 100% exercisable on December 9, 2013. The $2.55 options further vest and become exercisable at the rate of 33.33% on December 8, 2013 and 2014. Full vesting may occur earlier upon the occurrence of certain events as defined in the option agreement. | ||||||||||||||||||||||||||||||||
-4 | Intrinsic value was calculated using the closing price of IBC’s common stock on September 30, 2013 of $7.93. | ||||||||||||||||||||||||||||||||
A summary of selected information regarding restricted common stock awards made under the Plans during the nine months ended September 30, 2013 and 2012 follows: | |||||||||||||||||||||||||||||||||
($ in thousands, except per share amounts) | Stock Grant | Stock Grant | |||||||||||||||||||||||||||||||
Grant date of award | 1/24/13 | 1/19/12 | |||||||||||||||||||||||||||||||
Total restricted shares of stock awarded (1) | 330,700 | 465,400 | |||||||||||||||||||||||||||||||
Estimated fair value per share awarded (2) | $4.50 | $2.90 | |||||||||||||||||||||||||||||||
Total estimated fair value of award | $1,488 | $1,350 | |||||||||||||||||||||||||||||||
Awards scheduled to vest as follows: | |||||||||||||||||||||||||||||||||
Jan-13 | - | 256,800 | |||||||||||||||||||||||||||||||
Jan-14 | 49,566 | 133,455 | |||||||||||||||||||||||||||||||
Jan-15 | 170,888 | 75,145 | |||||||||||||||||||||||||||||||
Jan-16 | 110,246 | - | |||||||||||||||||||||||||||||||
330,700 | 465,400 | ||||||||||||||||||||||||||||||||
-1 | For the 2012 period, awards were as follows: a total of 175,000 shares to five executive officers (vesting in two installments, with two thirds vesting on the second anniversary of the grant and the remaining one third on the third anniversary of the grant); a total of 240,000 shares to six non-employee directors (vesting 100% on the first anniversary of the grant); and a total of 50,400 shares to other officers and employees (vesting in three equal installments, with one third on each of the next three anniversary dates of the grant). | ||||||||||||||||||||||||||||||||
For the 2013 period, awards were as follows: a total of 182,000 shares to five executive officers (vesting in two installments, with two thirds vesting on the second anniversary of the grant and the remaining one third on the third anniversary of the grant); a total of 80,000 shares to eight non-employee directors and 68,700 shares to other officers and employees (vesting in three equal installments, with one third on each of the next three anniversary dates of the grant). | |||||||||||||||||||||||||||||||||
-2 | Fair value of each award was estimated as of the grant date based on the closing market price of the common stock on the grant date. | ||||||||||||||||||||||||||||||||
A summary of activity in outstanding restricted common stock and related information follows: | |||||||||||||||||||||||||||||||||
Price Per Share | |||||||||||||||||||||||||||||||||
$2.35 | $2.90 | $4.50 | Total | ||||||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 317,500 | 464,800 | - | 782,300 | |||||||||||||||||||||||||||||
Shares vested and no longer restricted | - | (256,600 | ) | - | (256,600) | ||||||||||||||||||||||||||||
Shares granted | - | - | 330,700 | 330,700 | |||||||||||||||||||||||||||||
Shares forfeited | (7,100 | ) | (6,133 | ) | (5,400) | (18,633) | |||||||||||||||||||||||||||
Outstanding at September 30, 2013 (1) (2) | 310,400 | 202,067 | 325,300 | 837,767 | |||||||||||||||||||||||||||||
Notes to the preceding table follow: | |||||||||||||||||||||||||||||||||
-1 | All outstanding shares of restricted common stock were unvested at September 30, 2013 and subject to forfeiture. Shares issued at a price of $2.35 on December 9, 2010 will vest 100% on December 9, 2013. Shares issued at a price of $2.90 on January 19, 2012 will vest as follows: 130,200 on January 19, 2014 and 71,867 on January 19, 2015. Shares issued at a price of $4.50 on January 24, 2013 will vest as follows: 47,767 on January 24, 2014, 169,100 on January 24, 2015 and 108,433 on January 24, 2016. | ||||||||||||||||||||||||||||||||
-2 | Vesting is subject to the grantee’s continued employment with us or, in the case of non-employee directors, the grantee’s continued service as our director on the vesting dates. All of the awards are subject to accelerated vesting upon the death or disability of the grantee or upon a change in control of IBC, as defined in the restricted stock agreements. The record holder of IBC’s restricted shares of common stock possesses all the rights of a holder of our common stock, including the right to receive dividends on and to vote the restricted shares. The restricted shares may not be sold, transferred, pledged, assigned, encumbered, or otherwise alienated or hypothecated until they become fully vested and transferable in accordance with the agreements. Prior to June 24, 2013, shares held by certain of our executive officers had further restrictions on transferability due to IBC’s participation in the TARP program. | ||||||||||||||||||||||||||||||||
Stock-based compensation expense is recognized on a straight-line basis and is recorded in “Salaries and Employee Benefits” with a corresponding increase to stockholders’ equity as paid in capital over the vesting period of each award and is as follows: for the quarter ended September 30, 2013 and 2012, $231,000 and $309,000, respectively, and for the nine-months ended September 30, 2013 and 2012, $731,000 and $885,000, respectively. At September 30, 2013, pre-tax compensation expense related to all nonvested awards of options and restricted stock not yet recognized totaled $1.5 million and such amount is expected to be recognized in the future over a weighted average period of approximately 2.0 years. | |||||||||||||||||||||||||||||||||
Our income taxes payable in the first nine months of 2013 was reduced by the excess income tax benefit associated with the vesting of restricted common stock awards and the exercise of stock option awards (calculated as the difference between the fair market value of the stock at the vesting date versus the grant date in the case of stock awards and the difference between the fair market value of the stock at the exercise date versus the exercise price per share in the case of options, multiplied by our effective income tax rate). The net tax benefit amounted to $150,000 and is required to be recorded as an increase to our paid-in capital. There was no such tax benefit for the same 2012 period. |
Deferred_Tax_Asset
Deferred Tax Asset | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Deferred Tax Asset | ' |
Note 11 - Deferred Tax Asset | |
At September 30, 2013 and December 31, 2012, we had a deferred tax asset totaling $21.8 million and $29.2 million, respectively. The tax asset relates to the unrealized benefit for net temporary differences between the financial statement carrying amounts of our existing assets and liabilities and their respective tax bases that will result in future income tax deductions as well as an unused net operating loss carryforward (NOL) and Federal AMT credit carryforward, all of which can be applied against and reduce our future taxable income and tax liabilities. | |
At September 30, 2013, the gross NOL amounted to approximately $2 million for Federal purposes and $34 million for state and local purposes and the Federal AMT credit carryforward amounted to $1.8 million. The NOL carryforwards expire in 2030. The AMT credit carryforward has no expiration date. We have determined that a valuation allowance for our deferred tax asset was not required at any time during the reporting periods in this report because we believe that it is more likely than not that our deferred tax asset will be fully realized. This conclusion is based on prior taxable earning history as well as our ability to generate sufficient future taxable earnings to recognize our deferred tax asset, as discussed in this report and in note 14 to the financial statements in our 2012 10-K. |
Earnings_Per_Common_Share
Earnings Per Common Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Common Share | ' | ||||||||||||||||
Note 12 - Earnings Per Common Share | |||||||||||||||||
Net earnings applicable to common stockholders and the weighted-average number of shares used for basic and diluted earnings per common share computations are summarized in the table that follows: | |||||||||||||||||
Quarter Ended | Nine-Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Basic Earnings Per Common Share: | |||||||||||||||||
Net earnings available to common stockholders | $2,588,000 | $2,225,000 | $9,230,000 | $7,347,000 | |||||||||||||
Weighted-Average number of common shares outstanding | 21,915,596 | 21,589,744 | 21,891,886 | 21,558,092 | |||||||||||||
Basic Earnings Per Common Share | $0.12 | $0.10 | $0.42 | $0.34 | |||||||||||||
Diluted Earnings Per Common Share: | |||||||||||||||||
Net earnings available to common stockholders | $2,588,000 | $2,225,000 | $9,230,000 | $7,347,000 | |||||||||||||
Weighted-Average number of common shares outstanding: | |||||||||||||||||
Common shares outstanding | 21,915,596 | 21,589,744 | 21,891,886 | 21,558,092 | |||||||||||||
Potential dilutive shares resulting from exercise of warrants /options (1) | 135,866 | 978 | 81,064 | 276 | |||||||||||||
Total average number of common shares outstanding used for dilution | 22,051,462 | 21,590,722 | 21,972,950 | 21,558,368 | |||||||||||||
Diluted Earnings Per Common Share | $0.12 | $0.10 | $0.42 | $0.34 | |||||||||||||
-1 | All outstanding options/warrants to purchase shares of our common stock were considered for the Diluted EPS computations and only those that were dilutive (as determined by using the treasury stock method prescribed by GAAP) were included in the diluted earnings per share computations above. For both the quarter and nine-month periods of 2013 and 2012 calculations, 234,430 and 1,041,122, respectively, of options/warrants to purchase shares of common stock were not dilutive because the exercise price per share of each option/warrant was above the average market price of our common stock during these periods. |
OffBalance_Sheet_Financial_Ins
Off-Balance Sheet Financial Instruments | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Investments All Other Investments [Abstract] | ' | ||||||||
Off-Balance Sheet Financial Instruments | ' | ||||||||
Note 13 - Off-Balance Sheet Financial Instruments | |||||||||
INB is party to financial instruments with off-balance sheet risk in the normal course of its business to meet the financing needs of its customers. These instruments can be in the form of commitments to extend credit, unused lines of credit and standby letters of credit, and may involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in our financial statements. Our maximum exposure to credit risk is represented by the contractual amount of those instruments. Commitments to extend credit are agreements to lend funds to a customer as long as there is no violation of any condition established in the contract. Such commitments generally have fixed expiration dates or other termination clauses and normally require payment of fees to INB. Since some of the commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. We evaluate each customer’s creditworthiness on a case-by-case basis. Standby letters of credit are conditional commitments issued by INB to guarantee the performance of its customer to a third party. The credit risk involved in the underwriting of letters of credit is essentially the same as that involved in originating loans. INB had no standby letters of credit outstanding at September 30, 2013 or December 31, 2012. | |||||||||
The contractual amounts of off-balance sheet financial instruments are as follows: | |||||||||
($ in thousands) | At September 30, 2013 | At December 31, 2012 | |||||||
Commitments to extend credit | $30,672 | $19,154 | |||||||
Unused lines of credit | 677 | 854 | |||||||
$31,349 | $20,008 |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Contingencies | ' |
Note 14 - Contingencies | |
We are periodically a party to or otherwise involved in legal proceedings arising in the normal course of business, such as foreclosure proceedings. Based on review and consultation with our legal counsel, we do not believe that there is any pending or threatened proceeding against us, which, if determined adversely, would have a material effect on our business, results of operations, financial position or liquidity. | |
In the first and second quarters of 2013, INB entered into settlement agreements with respect to certain litigation INB had pursued in connection with foreclosure actions it had commenced in 2010 on several of its loans. INB commenced the actions to collect, in one case, insurance proceeds, which it contended had been improperly paid to various third parties, and in another case, damages due to alleged legal malpractice when the loan was originated. As a result of these settlements, INB received net proceeds totaling $2.7 million and $0.1 million in the first and second quarter of 2013, respectively, which was recorded as $1.1 million of recoveries of prior loan charge offs and $1.6 million of recoveries of prior real estate expenses associated with two loans and underlying collateral property. |
Regulatory_Matters_and_Regulat
Regulatory Matters and Regulatory Capital | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||||||||||
Regulatory Matters and Regulatory Capital | ' | ||||||||||||||||||||||||||||||||
Note 15 - Regulatory Matters and Regulatory Capital | |||||||||||||||||||||||||||||||||
Since January 2011, IBC has been operating under a written agreement with its primary regulator, the Federal Reserve Bank of New York (the “FRB”). From December 2010 through March 20, 2013, INB was also operating under a formal agreement with its primary regulator, the Office of the Comptroller of the Currency (the “OCC”). Both of these agreements, including various restrictions arising therefrom, have affected our business. For a discussion of the agreements and related restrictions, see note 19 to the financial statements in our 2012 10-K. | |||||||||||||||||||||||||||||||||
On March 21, 2013, INB received notification from the OCC that actions taken by INB since December 2010 satisfied the OCC’s regulatory directives and the Formal Agreement dated December 9, 2010 between INB and the OCC was terminated. As a result, INB is no longer subject to any regulatory agreement or to the related restrictions described in our 2012 10-K. Additionally, effective March 21, 2013, the OCC terminated its heightened regulatory capital requirements that had been imposed on INB since February 2010. As of the filing date of this report, IBC remained subject to its written agreement with the FRB and the restrictions contained therein. IBC has been informed by the FRB that it is reviewing the need for such agreement and IBC has advised the FRB that in IBC’s view it has complied with all of the requirements of the written agreement. | |||||||||||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, we believe that IBC and INB met all regulatory capital adequacy requirements to which they were subject. As of the date of filing of this report, we are not aware of any conditions or events that would have changed the status of such compliance with those requirements at September 30, 2013. | |||||||||||||||||||||||||||||||||
Information regarding our regulatory capital and related ratios is summarized as follows: | |||||||||||||||||||||||||||||||||
INB | IBC Consolidated | ||||||||||||||||||||||||||||||||
At September 30, | At December 31, | At September 30, | At December 31, | ||||||||||||||||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Tier 1 capital (1) | $234,166 | $244,081 | $238,955 | $249,465 | |||||||||||||||||||||||||||||
Tier 2 capital | 15,377 | 15,566 | 15,416 | 15,620 | |||||||||||||||||||||||||||||
Total risk-based capital | $249,543 | $259,647 | $254,371 | $265,085 | |||||||||||||||||||||||||||||
Net risk-weighted assets for regulatory purposes | $1,218,718 | $1,232,670 | $1,221,807 | $1,238,024 | |||||||||||||||||||||||||||||
Average assets for regulatory purposes | $1,563,834 | $1,690,329 | $1,568,881 | $1,696,410 | |||||||||||||||||||||||||||||
Total capital to risk-weighted assets | 20.48% | 21.06% | 20.82% | 21.41% | |||||||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | 19.21% | 19.80% | 19.56% | 20.15% | |||||||||||||||||||||||||||||
Tier 1 capital to average assets | 14.97% | 14.44% | 15.23% | 14.71% | |||||||||||||||||||||||||||||
-1 | IBC’s consolidated Tier 1 capital for both dates included $55 million of IBC’s outstanding qualifying trust preferred securities, which are discussed in further detail in note 8 to the financial statements in this report . | ||||||||||||||||||||||||||||||||
The table that follows presents information regarding our actual capital and minimum capital requirements. | |||||||||||||||||||||||||||||||||
Actual Capital | Minimum | Minimum | Minimum | ||||||||||||||||||||||||||||||
Under Prompt | To Be “Well Capitalized” | Under Agreement | |||||||||||||||||||||||||||||||
Corrective | Under Prompt Corrective | With OCC | |||||||||||||||||||||||||||||||
Action Provisions | Action Provisions | ||||||||||||||||||||||||||||||||
($ in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||||||||
IBC Consolidated at September 30, 2013: | |||||||||||||||||||||||||||||||||
Total capital to risk-weighted assets (1) | $254,371 | 20.82% | $97,745 | 8.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets (1) | $238,955 | 19.56% | $48,872 | 4.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to average assets (1) | $238,955 | 15.23% | $62,755 | 4.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
IBC Consolidated at December 31, 2012: | |||||||||||||||||||||||||||||||||
Total capital to risk-weighted assets | $265,085 | 21.41% | $99,042 | 8.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | $249,465 | 20.15% | $49,521 | 4.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to average assets | $249,465 | 14.71% | $67,856 | 4.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
INB at September 30, 2013: | |||||||||||||||||||||||||||||||||
Total capital to risk-weighted assets | $249,543 | 20.48% | $97,497 | 8.00% | $121,872 | 10.00% | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | $234,166 | 19.21% | $48,749 | 4.00% | $ 73,123 | 6.00% | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to average assets | $234,166 | 14.97% | $62,553 | 4.00% | $ 78,192 | 5.00% | NA | NA | |||||||||||||||||||||||||
INB at December 31, 2012: | |||||||||||||||||||||||||||||||||
Total capital to risk-weighted assets | $259,647 | 21.06% | $98,614 | 8.00% | $123,267 | 10.00% | $147,920 | 12.00% | |||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | $244,081 | 19.80% | $49,307 | 4.00% | $ 73,960 | 6.00% | $123,267 | 10.00% | |||||||||||||||||||||||||
Tier 1 capital to average assets | $244,081 | 14.44% | $67,613 | 4.00% | $ 84,516 | 5.00% | $152,130 | 9.00% | |||||||||||||||||||||||||
-1 | Assuming IBC had excluded all of its eligible outstanding trust preferred securities (which totaled $55 million) from its Tier 1 capital and included the entire amount in its Tier 2 capital, consolidated proforma capital ratios at September 30, 2013 would have been 20.82%, 15.06% and 11.73%, respectively. | ||||||||||||||||||||||||||||||||
The table that follows presents additional information regarding our capital adequacy at September 30, 2013. | |||||||||||||||||||||||||||||||||
INB Regulatory Capital | Consolidated Regulatory Capital | ||||||||||||||||||||||||||||||||
($ in thousands) | Actual | Required (1) | Excess | Actual | Required | Excess | |||||||||||||||||||||||||||
Total capital to risk-weighted assets | $249,543 | $121,872 | $127,671 | $254,371 | $97,745 | $156,626 | |||||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | $234,166 | $ 73,123 | $161,043 | $238,955 | $48,872 | $190,083 | |||||||||||||||||||||||||||
Tier 1 capital to average assets | $234,166 | $ 78,192 | $155,974 | $238,955 | $62,755 | $176,200 | |||||||||||||||||||||||||||
(1) Minimum amount required to be considered “Well-Capitalized.” |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||||||
Note 16 - Fair Value Measurements | |||||||||||||||||||||||||
We use fair value measurements to record fair value adjustments to certain of our assets and liabilities and to determine our fair value disclosures. In accordance with GAAP, we group our assets and liabilities at fair value into three levels (Level 1, 2 and 3), based on the markets in which they are traded and the reliability of the assumptions that are used to determine their fair value. Level 1 has the highest level of reliability because fair value is based on actively traded markets. See our 2012 10-K, note 20 to the financial statements, for a further discussion of all the valuation levels. | |||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, we only had approximately $1.0 million of assets (comprised of securities available for sale using Level 1 inputs) and no liabilities that were recorded at fair value on a recurring basis. | |||||||||||||||||||||||||
From time to time, we may be required to record at fair value other assets on a non-recurring basis, such as our impaired loans, impaired investment securities and real estate we own through foreclosure. These non-recurring fair value adjustments involve the application of lower-of-cost-or-market accounting or writedowns of individual assets. All of our assets measured at fair value on a nonrecurring basis use Level 3 inputs. We have no liabilities that are recorded at fair value on a nonrecurring basis. | |||||||||||||||||||||||||
For Level 3, fair value estimates are generally generated from model-based techniques that use significant assumptions that are not observable in the marketplace. These assumptions reflect our estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques for Level 3 include the use of discounted cash flow models. The fair value results obtained from Level 3 valuation techniques cannot be determined with precision and may not be realized in an actual sale or immediate settlement of the asset or liability. | |||||||||||||||||||||||||
The following tables provide information regarding our assets measured at fair value on a nonrecurring basis. | |||||||||||||||||||||||||
Outstanding Carrying Value | |||||||||||||||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||||||||||||||
($ in thousands) | Level 3 | Level 3 | |||||||||||||||||||||||
Impaired loans (1): | |||||||||||||||||||||||||
Commercial real estate | $45,956 | $50,795 | |||||||||||||||||||||||
Multifamily | 3,140 | 12,577 | |||||||||||||||||||||||
Land | 1,802 | 2,601 | |||||||||||||||||||||||
Total impaired loans | 50,898 | 65,973 | |||||||||||||||||||||||
Impaired securities (2) | 2,604 | 3,721 | |||||||||||||||||||||||
Real estate acquired through foreclosure | 12,019 | 15,923 | |||||||||||||||||||||||
Accumulated Losses on | Total Losses (Gains) (3) | ||||||||||||||||||||||||
Outstanding Balance as of: | Quarter Ended | Nine-Months Ended | |||||||||||||||||||||||
September 30, | December 31, | September 30, | September 30, | ||||||||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||
Commercial real estate | $10,294 | $ 9,979 | $ - | $ (254 | ) | $ 823 | $ (241) | ||||||||||||||||||
Multifamily | 598 | 3,092 | (7 | ) | (170 | ) | (964 | ) | (100) | ||||||||||||||||
Land | 500 | 521 | (2 | ) | - | (23 | ) | (493) | |||||||||||||||||
Total impaired loans | 11,392 | 13,592 | (9 | ) | (424 | ) | (164 | ) | (834) | ||||||||||||||||
Impaired securities | 5,197 | 4,233 | 273 | - | 964 | 157 | |||||||||||||||||||
Foreclosed real estate | 2,123 | 5,339 | 149 | 1,025 | 135 | 2,933 | |||||||||||||||||||
Totals | $18,712 | $23,164 | $413 | $ 601 | $935 | $2,256 | |||||||||||||||||||
-1 | Comprised of all nonaccrual loans and accruing TDRs. Outstanding carrying value excludes a specific valuation allowance included in the overall allowance for loan losses. See note 4 to the financial statements in this report. | ||||||||||||||||||||||||
-2 | Comprised of certain held-to maturity investments in trust preferred securities considered other than temporarily impaired. See note 2 to the financial statements in this report. | ||||||||||||||||||||||||
-3 | Represents total losses or (gains) recognized on all assets measured at fair value on a nonrecurring basis during the period indicated. The losses or (gains) for impaired loans represent the change (before net chargeoffs) during the period in the corresponding specific valuation allowance, while the losses (gains) for foreclosed real estate represent writedowns in carrying values subsequent to foreclosure (recorded as provisions for real estate losses) adjusted for any recoveries of prior writedowns and gains or losses from the transfer/sale of the properties during the period. The losses on investment securities represent other than temporary impairment “OTTI” writedowns recorded as a component of noninterest income (as described in note 2 to the financial statements in this report). | ||||||||||||||||||||||||
The following table presents information regarding the change in assets measured at fair value on a nonrecurring basis for the periods indicated | |||||||||||||||||||||||||
($ in thousands) | Impaired | Impaired | Foreclosed | ||||||||||||||||||||||
Securities | Loans | Real Estate | |||||||||||||||||||||||
Quarter Ended September 30, 2013 | |||||||||||||||||||||||||
Balance at beginning of period | $2,923 | $50,533 | $14,869 | ||||||||||||||||||||||
Net new impaired loans | - | 514 | - | ||||||||||||||||||||||
Other than temporary impairment write downs | (273 | ) | - | - | |||||||||||||||||||||
Principal repayments/sales | (46 | ) | (149 | ) | -2,701 | ||||||||||||||||||||
Writedowns of carrying value subsequent to foreclosure | - | - | -250 | ||||||||||||||||||||||
Gains from sales | - | - | 101 | ||||||||||||||||||||||
Balance at end of period | $2,604 | $50,898 | $12,019 | ||||||||||||||||||||||
Nine-Months Ended September 30, 2013 | |||||||||||||||||||||||||
Balance at beginning of period | $3,721 | $65,973 | $15,923 | ||||||||||||||||||||||
Net new impaired loans | - | 8,761 | - | ||||||||||||||||||||||
Impaired loans transferred to foreclosed real estate | - | (3,040 | ) | 3,040 | |||||||||||||||||||||
Other than temporary impairment write downs | (964 | ) | - | - | |||||||||||||||||||||
Principal repayments/sales | (153 | ) | (18,858 | ) | -6,809 | ||||||||||||||||||||
Chargeoffs of impaired loans | - | (1,938 | ) | - | |||||||||||||||||||||
Writedowns of carrying value subsequent to foreclosure | - | - | -1,029 | ||||||||||||||||||||||
Recoveries of prior writedowns | - | - | 74 | ||||||||||||||||||||||
Gains from sales | - | - | 820 | ||||||||||||||||||||||
Balance at end of period | $2,604 | $50,898 | $12,019 | ||||||||||||||||||||||
The following table presents information regarding the change in assets measured at fair value on a nonrecurring basis for the periods indicated. | |||||||||||||||||||||||||
($ in thousands) | Impaired | Impaired | Foreclosed | ||||||||||||||||||||||
Securities | Loans | Real Estate | |||||||||||||||||||||||
Quarter Ended September 30, 2012 | |||||||||||||||||||||||||
Balance at beginning of period | $4,221 | $65,240 | $26,370 | ||||||||||||||||||||||
Net new impaired loans | - | 872 | - | ||||||||||||||||||||||
Impaired loans transferred to foreclosed real estate | - | (1,457 | ) | 1,457 | |||||||||||||||||||||
Principal repayments/sales | - | (1,983 | ) | (4,944) | |||||||||||||||||||||
Chargeoffs of impaired loans | - | (548 | ) | - | |||||||||||||||||||||
Writedowns of carrying value subsequent to foreclosure | - | - | (1,025) | ||||||||||||||||||||||
Balance at end of period | $4,221 | $62,124 | $21,858 | ||||||||||||||||||||||
Nine-Months Ended September 30, 2012 | |||||||||||||||||||||||||
Balance at beginning of period | $4,378 | $66,269 | $28,278 | ||||||||||||||||||||||
Net new impaired loans | - | 8,254 | - | ||||||||||||||||||||||
Impaired loans transferred to foreclosed real estate | - | (1,457 | ) | 1,457 | |||||||||||||||||||||
Other than temporary impairment write downs | (157 | ) | - | - | |||||||||||||||||||||
Principal repayments/sales | - | (8,466 | ) | (4,944) | |||||||||||||||||||||
Chargeoffs of impaired loans | - | (2,476 | ) | - | |||||||||||||||||||||
Writedowns of carrying value subsequent to foreclosure | - | - | (2,933) | ||||||||||||||||||||||
Balance at end of period | $4,221 | $62,124 | $21,858 | ||||||||||||||||||||||
We are also required by GAAP to disclose the estimated fair value of each class of our financial instruments for which it is practicable to estimate. The fair value of a financial instrument is the current estimated amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for our various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Additionally, the estimated fair value of our non-financial instruments is excluded from these disclosure requirements. Accordingly, the aggregate fair value amounts presented in the table that follows may not necessarily represent the underlying fair value of our Company. | |||||||||||||||||||||||||
The fair value estimates shown in the table that follows are made at a specific point in time based on available information. A significant portion of our financial instruments, such as our mortgage loans, do not have an active marketplace in which they can be readily sold or purchased to determine fair value. Consequently, fair value estimates for such instruments are based on assumptions made by us that include the instrument’s credit risk characteristics and future estimated cash flows and prevailing interest rates. As a result, these fair value estimates are subjective in nature, involve uncertainties and matters of significant judgment and therefore, cannot be determined with precision. | |||||||||||||||||||||||||
Accordingly, changes in any of our assumptions could cause the fair value estimates to deviate substantially. Fair value estimates included herein are based on existing on- and off-balance-sheet financial instruments without attempting to estimate the value of anticipated future business and the fair value of assets and liabilities that are not required to be recorded or disclosed at fair value like 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 the estimates. A discussion regarding the assumptions used to compute the estimated fair values disclosed in the table that follows can be found in note 20 to the financial statements in our 2012 10-K. | |||||||||||||||||||||||||
The carrying and estimated fair values of our financial instruments are as follows: | |||||||||||||||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||||||||||||||
($ in thousands) | Carrying | Fair | Carrying | Fair | |||||||||||||||||||||
Value | Value | Value | Value | ||||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||||||
Cash and cash equivalents (1) | $ | 30,253 | $ | 30,253 | $ | 60,395 | $ | 60,395 | |||||||||||||||||
Time deposits with banks (1) | 5,370 | 5,370 | 5,170 | 5,170 | |||||||||||||||||||||
Securities available for sale, net (1) | 1,016 | 1,016 | 1,000 | 1,000 | |||||||||||||||||||||
Securities held to maturity, net (2) | 416,321 | 410,304 | 443,777 | 442,166 | |||||||||||||||||||||
FRB and FHLB stock (3) | 8,237 | 8,237 | 8,151 | 8,151 | |||||||||||||||||||||
Loans receivable, net (3) | 1,073,500 | 1,072,203 | 1,079,363 | 1,102,333 | |||||||||||||||||||||
Loan fees receivable (3) | 2,511 | 1,973 | 3,108 | 2,547 | |||||||||||||||||||||
Accrued interest receivable (3) | 4,735 | 4,735 | 5,191 | 5,191 | |||||||||||||||||||||
Total Financial Assets | $ | 1,541,943 | $ | 1,534,091 | $ | 1,606,155 | $ | 1,626,953 | |||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||||||
Deposits (3) | $ | 1,298,403 | 1,312,522 | $ | 1,362,619 | $ | 1,389,629 | ||||||||||||||||||
Accrued interest payable on deposits (3) | 1,398 | 1,398 | 2,379 | 2,379 | |||||||||||||||||||||
Borrowed funds plus accrued interest payable (3) | 57,165 | 56,924 | 62,930 | 62,448 | |||||||||||||||||||||
Off-Balance Sheet Financial Instruments: | |||||||||||||||||||||||||
Commitments to lend (3) | 536 | 536 | 386 | 386 | |||||||||||||||||||||
Total Financial Liabilities | $ | 1,357,502 | $ | 1,371,380 | $ | 1,428,314 | $ | 1,454,842 | |||||||||||||||||
Net Financial Assets | $ | 184,441 | $ | 162,711 | $ | 177,841 | $ | 172,111 | |||||||||||||||||
(1) | We consider these fair value measurements to be Level 1. | ||||||||||||||||||||||||
(2) | We consider these fair value measurements (except for those related to our corporate security investments, which are considered Level 3) to be Level 1. | ||||||||||||||||||||||||
(3) | We consider these fair value measurements to be Level 3. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
General | ' |
General | |
Intervest Bancshares Corporation (“IBC”) is the parent company of Intervest National Bank (“INB”). References in this report to “we,” “us” and “our” refer to these entities on a consolidated basis, unless otherwise specified. For a description of our business, see note 1 to the financial statements in our 2012 Annual Report on Form 10-K (“2012 10-K”). Our accounting and reporting policies conform to U.S. generally accepted accounting principles (GAAP) and general practices within the banking industry and are described in note 1 to the financial statements in our 2012 10-K, as updated by the information in this Form 10-Q. | |
Principles of Consolidation and Basis of Presentation | ' |
Principles of Consolidation and Basis of Presentation | |
The condensed consolidated financial statements (“financial statements”) in this report have not been audited except for information derived from our audited 2012 consolidated financial statements and notes thereto and should be read in conjunction with our 2012 10-K. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in this report pursuant to the rules and regulations of the Securities and Exchange Commission. | |
Use of Estimates | ' |
Use of Estimates | |
In preparing our financial statements, we are required to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent liabilities as of the date of the financial statements, and revenues and expenses during the reporting periods. Actual results could differ from those estimates. Estimates that are particularly susceptible to significant change currently relate to the determination of our allowance for loan losses, valuation allowance for real estate losses, other than temporary impairment assessments of our security investments and the need for and amount of a valuation allowance for our deferred tax asset. These estimates involve a higher degree of complexity and subjectivity and may require assumptions about highly uncertain matters. Current market conditions increase the risk and complexity of the judgments in these estimates. In our opinion, all material adjustments necessary for a fair presentation of our financial condition and results of operations for the interim periods presented in this report have been made. These adjustments are of a normal recurring nature. All significant intercompany balances and transactions have been eliminated in consolidation. Our results of operations for the interim periods are not necessarily indicative of results that may be expected for the entire year or any other interim period. | |
Recent Accounting Standards Update | ' |
Recent Accounting Standards Update | |
In July 2012, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (ASU) 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment,” which, among other things, gives an entity the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that an indefinite-lived intangible asset is impaired. We adopted this ASU on January 1, 2013, and since we do not have intangible assets, it had no impact on our financial statements. | |
In January 2013, the FASB issued ASU No. 2013-01, “Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities,” which limits the scope of the new balance sheet offsetting disclosures in ASU 2011-11 to derivatives, repurchase agreements, and securities lending transactions to the extent that they are (1) offset in the financial statements or (2) subject to an enforceable master netting arrangement or similar agreement. We adopted this ASU on February 1, 2013 and it had no impact on our financial statements. | |
In February 2013, the FASB Issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which requires entities to present information about reclassification adjustments from accumulated other comprehensive income in their annual financial statements in a single note or on the face of the financial statements. We adopted this ASU on March 1, 2013 and it had no impact on our financial statements. | |
In February 2013, the FASB Issued ASU No. 2013-04, “Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date”. ASU 2013-04 provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for obligations within the scope of this ASU, which is effective January 1, 2014. Upon adoption, we do not expect this ASU to impact our financial statements. | |
In July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists,” which among other things, require an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as denoted within the ASU. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. We are currently evaluating the impact of ASU 2013-11 on our financial statements. | |
In July 2013, the FASB issued ASU No. 2013-10, “Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes”. ASU No. 2013-10 permits the use of the Fed Funds Effective Swap Rate (OIS) to be used as a U.S. benchmark interest rate for hedge account purposes. The amendment is effective prospectively for qualifying new or redesiginated hedging relationships entered into on or after July 17, 2013. The adoption of ASU No. 2013-10 did have an impact on our financial statements. |
Securities_Held_to_Maturity_an1
Securities Held to Maturity and Available for Sale (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Carrying Value (Amortized Cost) and Estimated Fair Value of Securities Held to Maturity | ' | ||||||||||||||||||||||||||||||||||||||||||||
The carrying value (amortized cost) and estimated fair value of securities held to maturity are as follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Number of | Amortized | Gross | Gross | Estimated | Wtd-Avg | Wtd-Avg | Wtd-Avg | |||||||||||||||||||||||||||||||||||||
Securities | Cost | Unrealized | Unrealized | Fair | Yield | Expected | Remaining | ||||||||||||||||||||||||||||||||||||||
Gains | Losses | Value | Life | Maturity | |||||||||||||||||||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies (1) | 176 | $333,124 | $ | 490 | $ | 4,163 | $ | 329,451 | 0.93% | 2.9 Yrs | 4.1 Yrs | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed (2) | 56 | 80,061 | 225 | 640 | 79,646 | 1.97% | 4.6 Yrs | 15.0 Yrs | |||||||||||||||||||||||||||||||||||||
State and municipal | 1 | 532 | - | 3 | 529 | 1.25% | 3.5 Yrs | 3.5 Yrs | |||||||||||||||||||||||||||||||||||||
Corporate (3) | 8 | 2,604 | - | 1,926 | 678 | 2.00% | 19.5 Yrs | 20.2 Yrs | |||||||||||||||||||||||||||||||||||||
241 | $416,321 | $ | 715 | $ | 6,732 | $ | 410,304 | 1.14% | 3.3Yrs | 6.3 Yrs | |||||||||||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies (1) | 165 | $355,244 | $ | 1,109 | $ | 233 | $ | 356,120 | 0.87% | 1.6 Yrs | 4.6 Yrs | ||||||||||||||||||||||||||||||||||
Residential mortgage-backed (2) | 48 | 84,279 | 651 | 72 | 84,858 | 1.76% | 3.3 Yrs | 17.3 Yrs | |||||||||||||||||||||||||||||||||||||
State and municipal | 1 | 533 | - | 3 | 530 | 1.25% | 4.2 Yrs | 4.3 Yrs | |||||||||||||||||||||||||||||||||||||
Corporate (3) | 8 | 3,721 | - | 3,063 | 658 | 2.11% | 20.3 Yrs | 20.9 Yrs | |||||||||||||||||||||||||||||||||||||
222 | $443,777 | $ | 1,760 | $ | 3,371 | $ | 442,166 | 1.05% | 2.0 Yrs | 7.1 Yrs | |||||||||||||||||||||||||||||||||||
-1 | Consist of debt obligations of U.S. government sponsored agencies (GSEs) - Federal Home Loan Bank (FHLB), Federal Farm Credit Bank (FFCB), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC), which are federally chartered corporations privately owned by shareholders. GSE securities carry no explicit U.S. government guarantee of creditworthiness. Neither principal nor interest payments are guaranteed by the U.S. government nor do they not constitute a debt or obligation of the U.S. government or any of its agencies or instrumentalities other than the applicable GSE. In September 2008, FNMA and FHLMC were placed under U.S. government conservatorship. | ||||||||||||||||||||||||||||||||||||||||||||
-2 | At September 30, 2013, consisted of $14.5 million of Government National Mortgage Association (GNMA) pass-through certificates, $46.3 million of FNMA participation certificates and $19.3 million of FHLMC participation certificates. At December 31, 2012, consisted of $18.7 million of GNMA pass-through certificates, $40.0 million of FNMA participation certificates and $25.6 million of FHLMC participation certificates. The GNMA pass-through certificates are guaranteed as to the payment of principal and interest by the full faith and credit of the U.S. government while the FNMA and FHLMC certificates have an implied guarantee by such agency as to principal and interest payments. | ||||||||||||||||||||||||||||||||||||||||||||
-3 | Consist of variable-rate pooled trust preferred securities backed by obligations of companies in the banking industry. Amortized cost at September 30, 2013 and December 31, 2012 is reported net of other than temporary impairment charges of $5.2 million and $4.2 million, respectively. | ||||||||||||||||||||||||||||||||||||||||||||
Continuous Unrealized Loss Position | ' | ||||||||||||||||||||||||||||||||||||||||||||
The estimated fair values of securities held to maturity with gross unrealized losses segregated between securities that have been in a continuous unrealized loss position for less than twelve months at the respective dates and those that have been in a continuous unrealized loss position for twelve months or longer are summarized as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Less Than Twelve Months | Twelve Months or Longer | Total | |||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Number of | Estimated | Gross | Estimated | Gross | Estimated | Gross | ||||||||||||||||||||||||||||||||||||||
Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 137 | $257,171 | $4,163 | $ - | $ - | $257,171 | $4,163 | ||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed | 38 | 49,827 | 623 | 917 | 17 | 50,744 | 640 | ||||||||||||||||||||||||||||||||||||||
State and municipal | 1 | 529 | 3 | - | - | 529 | 3 | ||||||||||||||||||||||||||||||||||||||
Corporate | 8 | - | - | 678 | 1,926 | 678 | 1,926 | ||||||||||||||||||||||||||||||||||||||
184 | $307,527 | $4,789 | $1,595 | $1,943 | $309,122 | $6,732 | |||||||||||||||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
U.S. government agencies | 53 | $129,365 | $ 233 | $ - | $ - | $129,365 | $ 233 | ||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed | 14 | 24,481 | 72 | - | - | 24,481 | 72 | ||||||||||||||||||||||||||||||||||||||
State and municipal | 1 | 530 | 3 | - | - | 530 | 3 | ||||||||||||||||||||||||||||||||||||||
Corporate | 8 | - | - | 658 | 3,063 | 658 | 3,063 | ||||||||||||||||||||||||||||||||||||||
76 | $154,376 | $ 308 | $ 658 | $3,063 | $155,034 | $3,371 | |||||||||||||||||||||||||||||||||||||||
Other Information Related to Impaired Loans | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following table provides various information regarding trust preferred securities. | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Credit | Cost | Write | Adj. | Estimated | Unrealized | % of Collateral | # of | Discount (4) | PV of | |||||||||||||||||||||||||||||||||||
Downs | Cost | Fair | Banks | Expected | |||||||||||||||||||||||||||||||||||||||||
Cusip # (1) | Rating (1) | Basis | -2 | Basis | Value (3) | Loss | Defaulted | Deferred | in Pool | Margin | Rate | Cash Flows | |||||||||||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
74041PAEO | C | $ 998 | $ (918) | $ 80 | $ 29 | $ (51) | 43.20% | 14.80% | 39 | 1.92% | 5.22% | $ 338 | |||||||||||||||||||||||||||||||||
74040XAD6 | CC | 995 | -485 | 510 | 176 | (334) | 17.20% | 9.80% | 54 | 1.64% | 5.17% | 978 | |||||||||||||||||||||||||||||||||
74040XAE4 | CC | 973 | -462 | 511 | 176 | (335) | 17.20% | 9.80% | 54 | 1.85% | 5.39% | 953 | |||||||||||||||||||||||||||||||||
74040XAE4 | CC | 973 | -462 | 511 | 176 | (335) | 17.20% | 9.80% | 54 | 1.85% | 5.39% | 953 | |||||||||||||||||||||||||||||||||
74040YAF9 | CC- | 900 | -767 | 133 | 33 | (100) | 29.00% | 5.90% | 58 | 1.88% | 5.32% | 769 | |||||||||||||||||||||||||||||||||
74040YAE2 | CC- | 919 | -787 | 132 | 33 | (99) | 29.00% | 5.90% | 58 | 1.70% | 5.14% | 785 | |||||||||||||||||||||||||||||||||
74041UAE9 | C+ | 1,021 | -658 | 363 | 27 | (336) | 8.00% | 29.00% | 64 | 1.36% | 4.78% | 725 | |||||||||||||||||||||||||||||||||
74041UAE9 | C+ | 1,022 | -658 | 364 | 28 | (336) | 8.00% | 29.00% | 64 | 1.39% | 4.81% | 724 | |||||||||||||||||||||||||||||||||
$7,801 | ($5,197) | $2,604 | $678 | $(1,926) | $6,225 | ||||||||||||||||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
74041PAEO | C | $ 999 | $ (797) | $ 202 | $ 31 | $ (171) | 39.23% | 13.76% | 39 | 1.92% | 4.04% | $ 348 | |||||||||||||||||||||||||||||||||
74040XAD6 | C+ | 1,010 | -316 | 694 | 180 | (514) | 16.31% | 9.19% | 54 | 1.64% | 3.97% | 989 | |||||||||||||||||||||||||||||||||
74040XAE4 | C+ | 988 | -294 | 694 | 180 | (514) | 16.31% | 9.19% | 54 | 1.85% | 4.18% | 959 | |||||||||||||||||||||||||||||||||
74040XAE4 | C+ | 988 | -294 | 694 | 180 | (514) | 16.31% | 9.19% | 54 | 1.85% | 4.18% | 959 | |||||||||||||||||||||||||||||||||
74040YAF9 | C | 952 | -718 | 234 | 32 | (202) | 27.24% | 13.28% | 58 | 1.88% | 4.04% | 642 | |||||||||||||||||||||||||||||||||
74040YAE2 | C | 972 | -737 | 235 | 32 | (203) | 27.24% | 13.28% | 58 | 1.70% | 3.86% | 655 | |||||||||||||||||||||||||||||||||
74041UAE9 | C+ | 1,022 | -539 | 483 | 11 | (472) | 7.80% | 31.17% | 64 | 1.36% | 3.61% | 638 | |||||||||||||||||||||||||||||||||
74041UAE9 | C+ | 1,023 | -538 | 485 | 12 | (473) | 7.80% | 31.17% | 64 | 1.39% | 3.64% | 636 | |||||||||||||||||||||||||||||||||
$7,954 | ($4,233) | $3,721 | $658 | $(3,063) | $5,826 | ||||||||||||||||||||||||||||||||||||||||
(1) All of these securities were on cash basis accounting because INB is currently not receiving all scheduled contractual interest payments on these securities. A large portion of the contractual cash flows for the interest payments on these securities are being redirected to a more senior class of bondholders to pay down the principal balance on the more senior class faster. This occurs when deferral and default activity reduces the security’s underlying performing collateral to a level where a predetermined coverage test fails and requires cash flows from interest payments to be redirected to a senior class of security holders. If no additional deferrals or defaults occur, such test will eventually be met again through the redirection of the cash flow and cash interest payments would resume on INB’s bonds, although no assurance can be given as to the amount and timing of the resumption, if any. In the first nine months of 2013, INB received payments on cusips# 74040XAD6, 74040XAE4, 74040YAF9 and 74040YAE2 totaling approximately $153,000. The credit rating represents a composite rating derived from third party credit rating agencies (Moody’s and Fitch). | |||||||||||||||||||||||||||||||||||||||||||||
(2) Writedowns are derived based on analysis of various factors and consider the difference between the book value of the security and the projected present value of the security’s cash flows as indicated per an analysis performed using guidance prescribed by GAAP. | |||||||||||||||||||||||||||||||||||||||||||||
Notes to the preceding table continued: | |||||||||||||||||||||||||||||||||||||||||||||
(3) Obtained from Moody’s pricing service, which uses a complex valuation model that factors in numerous assumptions and data, including anticipated discounts related to illiquid trading markets, credit and interest rate risk, which under GAAP would be considered Level 3 inputs. INB believes that the actual values that would be realized in an orderly market under normal credit conditions between a willing buyer and seller would approximate the projected present value (PV) of the securities’ cash flows and therefore, these estimated fair values are used for disclosure purposes only and are not used for calculating and recording impairment. INB also has the intent and the ability to retain these trust preferred securities until maturity and currently has no intention of selling them. We view the gross unrealized losses related to these securities to be temporary. | |||||||||||||||||||||||||||||||||||||||||||||
(4) In determining whether there is OTTI, INB relies on a cash flow analysis as prescribed under GAAP (ASC 320-10-35) and prepared by a third party specialist to determine whether conditions are such that the projected cash flows are insufficient to recover INB’s principal investment. The basic methodology under GAAP is to compare the present value of the cash flows that are derived from assumptions made with respect to deferrals, defaults and prepayments from quarter to quarter. A decline in the present value versus that for the previous quarter is considered to be an adverse change. The discount margin in the table above represents the incremental credit spread used to derive the discount rate for present value computations. Consistent with GAAP, we analyze the specific credit characteristics of the collateral underlying each individual security to develop the deferral/default assumptions for estimated cash flows. This analysis consists of examining available data regarding trends in earnings and capital and problem asset ratios of each bank in the collateral pool in order to estimate their capacity to continue principal and interest payments on the investments we own. In order to estimate the expected cash flows, we focused on each bank’s Texas ratio, which is defined as nonperforming assets plus 90 day past due loans divided by tangible equity plus loan loss reserves. We concluded that banks with Texas ratios of 75% or more may experience greater difficulties in making payments. Based on our judgment, we determined and used the following assumptions in projecting cash flows: for those banks that were in default, we assumed no cash flows, for those banks that had deferred payments, we assumed a 15% recovery after a 2 year lag, and for banks that were paying we assumed prepayments of 1% annually and 100% at maturity and annual defaults of 75 basis points. It should be noted that the results of any discounted cash flow analysis are significantly affected by variables such as the estimate of the probability of default, discount rates, prepayment rates and the creditworthiness of the underlying issuers. Therefore, changes in any of these assumptions could cause the results of our cash flow models and OTTI assessments to deviate and result in different conclusions. | |||||||||||||||||||||||||||||||||||||||||||||
Credit Losses Recognized on Securities | ' | ||||||||||||||||||||||||||||||||||||||||||||
The table below provides a cumulative roll forward of credit losses recognized on securities held to maturity for the periods indicated. | |||||||||||||||||||||||||||||||||||||||||||||
Quarter Ended September 30, | Nine-Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $4,924 | $3,808 | $4,233 | $3,651 | |||||||||||||||||||||||||||||||||||||||||
Additional credit losses on debt securities for which OTTI was previously recognized | 273 | - | 964 | 157 | |||||||||||||||||||||||||||||||||||||||||
Balance at end of period | $5,197 | $3,808 | $5,197 | $3,808 | |||||||||||||||||||||||||||||||||||||||||
Summary of the Carrying Value (Amortized Cost) and Fair Value of Securities Held to Maturity | ' | ||||||||||||||||||||||||||||||||||||||||||||
The following table is a summary of the carrying value (amortized cost) and fair value of securities held to maturity as of September 30, 2013, by remaining period to contractual maturity (ignoring earlier call dates, if any). Actual maturities may differ from contractual maturities because certain security issuers have the right to call or prepay their obligations. The amounts reported in the table below do not consider the effects of possible prepayments or unscheduled repayments of the securities held to maturity portfolio. | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Amortized | Estimated | Wtd-Avg | ||||||||||||||||||||||||||||||||||||||||||
Cost | Fair Value | Yield | |||||||||||||||||||||||||||||||||||||||||||
Due in one year or less | $ 17,094 | $ 17,196 | 1.24% | ||||||||||||||||||||||||||||||||||||||||||
Due after one year through five years | 243,465 | 241,627 | 0.85 | ||||||||||||||||||||||||||||||||||||||||||
Due after five years through ten years | 98,322 | 96,382 | 1.27 | ||||||||||||||||||||||||||||||||||||||||||
Due after ten years | 57,440 | 55,099 | 2.09 | ||||||||||||||||||||||||||||||||||||||||||
$416,321 | $410,304 | 1.14% | |||||||||||||||||||||||||||||||||||||||||||
Loans_Receivable_Tables
Loans Receivable (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||||||
Major Classifications of Loans Receivable | ' | ||||||||||||||||||||||||||||||||||||||||||||
Major classifications of loans receivable are summarized as follows: | |||||||||||||||||||||||||||||||||||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | # of Loans | Amount | # of Loans | Amount | |||||||||||||||||||||||||||||||||||||||||
Loans Secured By Real Estate: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 383 | $ 817,572 | 376 | $ 852,213 | |||||||||||||||||||||||||||||||||||||||||
Multifamily loans | 139 | 210,508 | 142 | 208,699 | |||||||||||||||||||||||||||||||||||||||||
One to four family loans | 19 | 68,662 | 13 | 41,676 | |||||||||||||||||||||||||||||||||||||||||
Land loans | 4 | 5,881 | 7 | 7,167 | |||||||||||||||||||||||||||||||||||||||||
545 | 1,102,623 | 538 | 1,109,755 | ||||||||||||||||||||||||||||||||||||||||||
All Other Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Business loans | 19 | 1,130 | 18 | 949 | |||||||||||||||||||||||||||||||||||||||||
Consumer loans | 14 | 347 | 12 | 359 | |||||||||||||||||||||||||||||||||||||||||
33 | 1,477 | 30 | 1,308 | ||||||||||||||||||||||||||||||||||||||||||
Loans receivable, gross | 578 | 1,104,100 | 568 | 1,111,063 | |||||||||||||||||||||||||||||||||||||||||
Deferred loan fees | (3,823) | (3,597) | |||||||||||||||||||||||||||||||||||||||||||
Loans receivable, net of deferred fees | 1,100,277 | 1,107,466 | |||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (26,777) | (28,103) | |||||||||||||||||||||||||||||||||||||||||||
Loans receivable, net | $1,073,500 | $1,079,363 | |||||||||||||||||||||||||||||||||||||||||||
Summary of Impaired Loans | ' | ||||||||||||||||||||||||||||||||||||||||||||
The recorded investment, corresponding specific impairment valuation allowance and unpaid principal balance of our impaired loans at the dates indicated are summarized follows: | |||||||||||||||||||||||||||||||||||||||||||||
-1 | -2 | -3 | # of | ||||||||||||||||||||||||||||||||||||||||||
Recorded Investment by State | Specific | Total | Loans | ||||||||||||||||||||||||||||||||||||||||||
Valuation | Unpaid | ||||||||||||||||||||||||||||||||||||||||||||
Allowance | Principal | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | NY | FL | NJ | GA | CT | OH | SD | Total | |||||||||||||||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||||||
Retail | $ | 8,779 | $ | 9,005 | $ | - | $ | - | $ | 2,735 | $ | 1,000 | $ | - | $ | 21,519 | $1,661 | $28,446 | 7 | ||||||||||||||||||||||||||
Office Building | - | 15,242 | - | 8,695 | - | - | - | 23,937 | 1,977 | 24,451 | 3 | ||||||||||||||||||||||||||||||||||
Mixed Use | - | - | 500 | - | - | - | - | 500 | 25 | 500 | 1 | ||||||||||||||||||||||||||||||||||
Multifamily | - | 3,140 | - | - | - | - | - | 3,140 | 596 | 3,140 | 2 | ||||||||||||||||||||||||||||||||||
Land | - | - | - | - | - | - | 1,802 | 1,802 | 498 | 1,802 | 1 | ||||||||||||||||||||||||||||||||||
Totals | $ | 8,779 | $ | 27,387 | $ | 500 | $ | 8,695 | $ | 2,735 | $ | 1,000 | $ | 1,802 | $ | 50,898 | $4,757 | $58,339 | 14 | ||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||||||||||
Retail | $ | 11,837 | $ | 9,005 | $ | - | $ | - | $ | - | $ | 1,000 | $ | - | $ | 21,842 | $1,966 | $27,596 | 6 | ||||||||||||||||||||||||||
Office Building | - | 17,988 | 883 | - | - | - | - | 18,871 | 583 | 19,621 | 3 | ||||||||||||||||||||||||||||||||||
Warehouse | 950 | - | - | - | - | - | - | 950 | 28 | 950 | 1 | ||||||||||||||||||||||||||||||||||
Mixed Use | 8,632 | - | 500 | - | - | - | - | 9,132 | 1,248 | 9,421 | 4 | ||||||||||||||||||||||||||||||||||
Multifamily | - | 12,577 | - | - | - | - | - | 12,577 | 1,542 | 14,225 | 6 | ||||||||||||||||||||||||||||||||||
Land | 515 | - | - | - | - | - | 2,086 | 2,601 | 521 | 2,601 | 3 | ||||||||||||||||||||||||||||||||||
Totals | $ | 21,934 | $ | 39,570 | $ | 1,383 | $ | - | $ | - | $ | 1,000 | $ | 2,086 | $ | 65,973 | $5,888 | $74,414 | 23 | ||||||||||||||||||||||||||
-1 | Represents contractual unpaid principal less any partial principal chargeoffs and interest received and applied as a reduction of principal. | ||||||||||||||||||||||||||||||||||||||||||||
-2 | Represents a specific valuation allowance against the recorded investment included as part of the overall allowance for loan losses. All impaired loans at the dates indicated in the table had a specific valuation allowance. | ||||||||||||||||||||||||||||||||||||||||||||
-3 | Represents contractual unpaid principal balance (shown for informational purposes only). The borrowers are obligated to pay such amounts, however the ultimate collection by us of such amounts in this column cannot be assured | ||||||||||||||||||||||||||||||||||||||||||||
Other Information Related to Impaired Loans | ' | ||||||||||||||||||||||||||||||||||||||||||||
Other information related to our impaired loans is summarized as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Quarter Ended | Nine-Months Ended | ||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||
Average recorded investment in nonaccrual loans | $ | 39,159 | $ | 49,788 | $ | 41,039 | $ | 53,809 | |||||||||||||||||||||||||||||||||||||
Total cash basis interest income recognized on nonaccrual loans | 521 | 633 | 1,729 | 2,055 | |||||||||||||||||||||||||||||||||||||||||
Average recorded investment in accruing TDR loans | 11,423 | 14,380 | 14,482 | 10,341 | |||||||||||||||||||||||||||||||||||||||||
Total interest income recognized on accruing TDR loans under modified terms | 152 | 233 | 581 | 493 | |||||||||||||||||||||||||||||||||||||||||
Age Analysis of Loan Portfolio by Segment | ' | ||||||||||||||||||||||||||||||||||||||||||||
Age analysis of our loan portfolio by segment at September 30, 2013 is summarized as follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Total | Current | Past Due | Past Due | Past Due | Total | Total | ||||||||||||||||||||||||||||||||||||||
Portfolio | 31-59 | 60-89 | 90 or more | Past Due | Classified | ||||||||||||||||||||||||||||||||||||||||
Days | Days | Days | Nonaccrual | ||||||||||||||||||||||||||||||||||||||||||
Accruing Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ 780,338 | $ 758,670 | $ - | $ 3,265 | $ 18,403 | $21,668 | $ - | ||||||||||||||||||||||||||||||||||||||
Multifamily | 208,225 | 208,225 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
One to four family | 68,662 | 68,662 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Land | 5,881 | 5,881 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
All other | 1,477 | 1,477 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Total accruing loans | 1,064,583 | 1,042,915 | - | 3,265 | 18,403 | 21,668 | - | ||||||||||||||||||||||||||||||||||||||
Nonaccrual Loans (1): | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 37,234 | 36,720 | - | - | 514 | 514 | 37,234 | ||||||||||||||||||||||||||||||||||||||
Multifamily | 2,283 | 2,283 | - | - | - | - | 2,283 | ||||||||||||||||||||||||||||||||||||||
Total nonaccrual loans | 39,517 | 39,003 | - | - | 514 | 514 | 39,517 | ||||||||||||||||||||||||||||||||||||||
Total loans | $1,104,100 | $1,081,918 | $ - | $3,265 | $18,917 | $22,182 | $39,517 | ||||||||||||||||||||||||||||||||||||||
Age analysis of our loan portfolio by segment at December 31, 2012 is summarized as follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Total | Current | Past Due | Past Due | Past Due | Total | Total | ||||||||||||||||||||||||||||||||||||||
Portfolio | 31-59 | 60-89 | 90 or more | Past Due | Classified | ||||||||||||||||||||||||||||||||||||||||
Days | Days | Days | Nonaccrual | ||||||||||||||||||||||||||||||||||||||||||
Accruing Loans: | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ 816,357 | $ 799,130 | $12,836 | $ - | $ 4,391 | $17,227 | $ - | ||||||||||||||||||||||||||||||||||||||
Multifamily | 198,942 | 198,942 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
One to four family | 41,676 | 41,676 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Land | 6,882 | 4,221 | 2,661 | - | - | 2,661 | - | ||||||||||||||||||||||||||||||||||||||
All other | 1,308 | 1,308 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||
Total accruing loans | 1,065,165 | 1,045,277 | 15,497 | - | 4,391 | 19,888 | - | ||||||||||||||||||||||||||||||||||||||
Nonaccrual Loans (1): | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 35,856 | 32,701 | - | - | 3,155 | 3,155 | 35,856 | ||||||||||||||||||||||||||||||||||||||
Multifamily | 9,757 | 7,261 | - | - | 2,496 | 2,496 | 9,757 | ||||||||||||||||||||||||||||||||||||||
Land | 285 | 285 | - | - | - | - | 285 | ||||||||||||||||||||||||||||||||||||||
Total nonaccrual loans | 45,898 | 40,247 | - | - | 5,651 | 5,651 | 45,898 | ||||||||||||||||||||||||||||||||||||||
Total loans | $1,111,063 | $1,085,524 | $15,497 | $ - | $10,042 | $25,539 | $45,898 | ||||||||||||||||||||||||||||||||||||||
-1 | The amount of nonaccrual loans in the current column included $35.8 million of TDRs at September 30, 2013 and $36.3 million of TDRs at December 31, 2012 for which payments are being made in accordance with their restructured terms, but the loans were maintained on nonaccrual status in accordance with regulatory guidance. The remaining portion at both dates was comprised of certain paying loans classified nonaccrual due to concerns regarding the borrowers’ ability to continue making payments. Interest income from loan payments on all loans in nonaccrual status is recognized on a cash basis, provided the remaining principal balance is deemed collectible. | ||||||||||||||||||||||||||||||||||||||||||||
Information Regarding Credit Quality of Loan Portfolio | ' | ||||||||||||||||||||||||||||||||||||||||||||
Information regarding the credit quality of the loan portfolio based on internally assigned grades follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | Pass | Special Mention | Substandard (1) | Total | |||||||||||||||||||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ 743,233 | $15,183 | $59,156 | $ 817,572 | |||||||||||||||||||||||||||||||||||||||||
Multifamily | 204,994 | 2,374 | 3,140 | 210,508 | |||||||||||||||||||||||||||||||||||||||||
One to four family | 68,662 | - | - | 68,662 | |||||||||||||||||||||||||||||||||||||||||
Land | 4,079 | - | 1,802 | 5,881 | |||||||||||||||||||||||||||||||||||||||||
All other | 1,477 | - | - | 1,477 | |||||||||||||||||||||||||||||||||||||||||
Total loans | $1,022,445 | $17,557 | $64,098 | $1,104,100 | |||||||||||||||||||||||||||||||||||||||||
Allocation of allowance for loan losses | $ 20,626 | $ 410 | $ 5,741 | $ 26,777 | |||||||||||||||||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ 775,136 | $17,041 | $60,036 | $ 852,213 | |||||||||||||||||||||||||||||||||||||||||
Multifamily | 193,738 | 2,384 | 12,577 | 208,699 | |||||||||||||||||||||||||||||||||||||||||
One to four family | 41,676 | - | - | 41,676 | |||||||||||||||||||||||||||||||||||||||||
Land | 4,566 | - | 2,601 | 7,167 | |||||||||||||||||||||||||||||||||||||||||
All other | 1,308 | - | - | 1,308 | |||||||||||||||||||||||||||||||||||||||||
Total loans | $1,016,424 | $19,425 | $75,214 | $1,111,063 | |||||||||||||||||||||||||||||||||||||||||
Allocation of allowance for loan losses | $ 20,037 | $ 443 | $ 7,623 | $ 28,103 | |||||||||||||||||||||||||||||||||||||||||
-1 | Substandard loans consist of $39.5 million of nonaccrual loans, $6.0 million of accruing TDRs and $18.6 million of other performing loans at September 30, 2013, compared to $45.9 million of nonaccrual loans, $20.1 million of accruing TDRs and $9.2 million of other performing loans at December 31, 2012. At September 30, 2013, we also had one accruing TDR for $5.4 million which was rated pass. | ||||||||||||||||||||||||||||||||||||||||||||
Geographic Distribution of Loan Portfolio | ' | ||||||||||||||||||||||||||||||||||||||||||||
The geographic distribution of the loan portfolio by state follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | At September 30, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
Amount | % of Total | Amount | % of Total | ||||||||||||||||||||||||||||||||||||||||||
New York | $ | 667,265 | 60 | % | $ | 717,141 | 64.5 | % | |||||||||||||||||||||||||||||||||||||
Florida | 314,274 | 29 | 286,619 | 25.8 | |||||||||||||||||||||||||||||||||||||||||
New Jersey | 18,125 | 1.6 | 26,425 | 2.4 | |||||||||||||||||||||||||||||||||||||||||
North Carolina | 17,746 | 1.6 | 14,256 | 1.3 | |||||||||||||||||||||||||||||||||||||||||
Pennsylvania | 17,022 | 1.5 | 10,270 | 0.9 | |||||||||||||||||||||||||||||||||||||||||
Georgia | 16,246 | 1.5 | 11,752 | 1.1 | |||||||||||||||||||||||||||||||||||||||||
Virginia | 11,560 | 1 | 11,758 | 1.1 | |||||||||||||||||||||||||||||||||||||||||
Kentucky | 10,619 | 1 | 7,512 | 0.7 | |||||||||||||||||||||||||||||||||||||||||
South Carolina | 9,272 | 0.8 | 5,853 | 0.5 | |||||||||||||||||||||||||||||||||||||||||
Connecticut | 8,482 | 0.8 | 11,216 | 1 | |||||||||||||||||||||||||||||||||||||||||
Tennessee | 5,626 | 0.5 | 770 | 0 | |||||||||||||||||||||||||||||||||||||||||
Ohio | 2,236 | 0.2 | 2,260 | 0.2 | |||||||||||||||||||||||||||||||||||||||||
South Dakota | 1,802 | 0.2 | 2,086 | 0.2 | |||||||||||||||||||||||||||||||||||||||||
All other states | 3,825 | 0.3 | 3,145 | 0.3 | |||||||||||||||||||||||||||||||||||||||||
$ | 1,104,100 | 100 | % | $ | 1,111,063 | 100 | % | ||||||||||||||||||||||||||||||||||||||
Information Regarding Loans Restructured | ' | ||||||||||||||||||||||||||||||||||||||||||||
Information regarding loans restructured during the nine-months ended September 30, 2013 follows: | |||||||||||||||||||||||||||||||||||||||||||||
Number | Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | of Loans | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||||||||||
Commercial real estate - interest rate reduced | 2 | $ | 9,159 | $ | 9,159 | ||||||||||||||||||||||||||||||||||||||||
Information regarding loans restructured during the nine-months ended September 30, 2012 is as follows: | |||||||||||||||||||||||||||||||||||||||||||||
Number | Recorded Investment | ||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | of Loans | Pre-Modification | Post-Modification | ||||||||||||||||||||||||||||||||||||||||||
Land - extended maturity date | 2 | $ | 520 | $ | 520 | ||||||||||||||||||||||||||||||||||||||||
Distribution of TDRs by Accruing Versus Non-Accruing, by Segment and by Geographic | ' | ||||||||||||||||||||||||||||||||||||||||||||
The distribution of TDRs by accruing versus non-accruing, by loan type and by geographic distribution follows: | |||||||||||||||||||||||||||||||||||||||||||||
($ in thousands) | At September 30, 2013 | At December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||
Performing - nonaccrual status | $35,768 | $36,291 | |||||||||||||||||||||||||||||||||||||||||||
Performing - accrual status | 11,381 | 20,076 | |||||||||||||||||||||||||||||||||||||||||||
$47,149 | $56,367 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $42,207 | $43,685 | |||||||||||||||||||||||||||||||||||||||||||
Multifamily | 3,140 | 10,081 | |||||||||||||||||||||||||||||||||||||||||||
Land | 1,802 | 2,601 | |||||||||||||||||||||||||||||||||||||||||||
$47,149 | $56,367 | ||||||||||||||||||||||||||||||||||||||||||||
New York | $ 8,265 | $18,478 | |||||||||||||||||||||||||||||||||||||||||||
Florida | 27,387 | 33,920 | |||||||||||||||||||||||||||||||||||||||||||
New Jersey | - | 883 | |||||||||||||||||||||||||||||||||||||||||||
Georgia | 8,695 | - | |||||||||||||||||||||||||||||||||||||||||||
Ohio | 1,000 | 1,000 | |||||||||||||||||||||||||||||||||||||||||||
South Dakota | 1,802 | 2,086 | |||||||||||||||||||||||||||||||||||||||||||
$47,149 | $56,367 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Allowance for Loan Losses by Loan Type | ' | ||||||||||||||||||||||||
Activity in the allowance for loan losses by loan type for the periods indicated is as follows: | |||||||||||||||||||||||||
($ in thousands) | Commercial | Multifamily | One to Four | Land | All Other | Total | |||||||||||||||||||
Real Estate | Family | ||||||||||||||||||||||||
Quarter Ended September 30, 2013 | |||||||||||||||||||||||||
Balance at beginning of period | $17,596 | $5,098 | $2,795 | $ 956 | $10 | $26,455 | |||||||||||||||||||
Loan chargeoffs | - | - | - | - | - | - | |||||||||||||||||||
Loan recoveries (1) | 67 | 5 | - | - | - | 72 | |||||||||||||||||||
Provision (credit) for loan losses | (175 | ) | 212 | 229 | (15 | ) | (1 | ) | 250 | ||||||||||||||||
Balance at end of period | $17,488 | $5,315 | $3,024 | $ 941 | $ 9 | $26,777 | |||||||||||||||||||
Quarter Ended September 30, 2012 | |||||||||||||||||||||||||
Balance at beginning of period | $18,343 | $8,480 | $ 502 | $1,509 | $10 | $28,844 | |||||||||||||||||||
Loan chargeoffs | (548 | ) | - | - | - | - | (548) | ||||||||||||||||||
Loan recoveries | 63 | 23 | - | - | - | 86 | |||||||||||||||||||
Provision (credit) for loan losses | 468 | (381 | ) | 250 | (337 | ) | - | - | |||||||||||||||||
Balance at end of period | $18,326 | $8,122 | $ 752 | $1,172 | $10 | $28,382 | |||||||||||||||||||
Activity in the allowance for loan losses by loan type for the periods indicated is as follows: | |||||||||||||||||||||||||
($ in thousands) | Commercial | Multifamily | One to Four | Land | All Other | Total | |||||||||||||||||||
Real Estate | Family | ||||||||||||||||||||||||
Nine-Months Ended September 30, 2013 | |||||||||||||||||||||||||
Balance at beginning of period | $19,051 | $6,881 | $1,120 | $1,043 | $ 8 | $28,103 | |||||||||||||||||||
Loan chargeoffs | (1,932 | ) | (6 | ) | - | - | - | (1,938) | |||||||||||||||||
Loan recoveries (1) | 947 | 682 | - | 483 | - | 2,112 | |||||||||||||||||||
Provision (credit) for loan losses | (578 | ) | (2,242 | ) | 1,904 | (585 | ) | 1 | (1,500) | ||||||||||||||||
Balance at end of period | $17,488 | $5,315 | $3,024 | $ 941 | $ 9 | $26,777 | |||||||||||||||||||
Nine-Months Ended September 30, 2012 | |||||||||||||||||||||||||
Balance at beginning of period | $19,156 | $8,848 | $332 | $2,069 | $10 | $30,415 | |||||||||||||||||||
Loan chargeoffs | (2,215 | ) | (261 | ) | - | - | - | (2,476) | |||||||||||||||||
Loan recoveries | 383 | 60 | - | - | - | 443 | |||||||||||||||||||
Provision for loan losses | 1,002 | (525 | ) | 420 | (897 | ) | - | - | |||||||||||||||||
Balance at end of period | $18,326 | $8,122 | $752 | $1,172 | $10 | $28,382 | |||||||||||||||||||
-1 | See note 14 to financial statements in this report for a discussion on recoveries. | ||||||||||||||||||||||||
Loans Receivable by Segment and Impairment Evaluation and Allowance for Loan Losses | ' | ||||||||||||||||||||||||
The following tables set forth the balances of our loans receivable by segment and impairment evaluation and the allowance for loan losses associated with such loans at the dates indicated. | |||||||||||||||||||||||||
($ in thousands) | Commercial | Multifamily | One to Four | Land | All Other | Total | |||||||||||||||||||
Real Estate | Family | ||||||||||||||||||||||||
At September 30, 2013 | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ 45,955 | $ 3,141 | $ - | $1,802 | $ - | $ 50,898 | |||||||||||||||||||
Collectively evaluated for impairment | 771,617 | 207,367 | 68,662 | 4,079 | 1,477 | 1,053,202 | |||||||||||||||||||
Total loans | $817,572 | $210,508 | $68,662 | $5,881 | $1,477 | $1,104,100 | |||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Individually evaluated for impairment (1) | $ 3,663 | $ 596 | $ - | $ 498 | $ - | $ 4,757 | |||||||||||||||||||
Collectively evaluated for impairment | 13,825 | 4,719 | 3,024 | 443 | 9 | 22,020 | |||||||||||||||||||
Total allowance for loan losses | $ 17,488 | $ 5,315 | $3,024 | $ 941 | $ 9 | $ 26,777 | |||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||
Loans: | |||||||||||||||||||||||||
Individually evaluated for impairment | $ 50,795 | $ 12,577 | $ - | $2,601 | $ - | $ 65,973 | |||||||||||||||||||
Collectively evaluated for impairment | 801,418 | 196,122 | 41,676 | 4,566 | 1,308 | 1,045,090 | |||||||||||||||||||
Total loans | $852,213 | $208,699 | $41,676 | $7,167 | $1,308 | $1,111,063 | |||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Individually evaluated for impairment (1) | $ 3,825 | $ 1,542 | $ - | $ 521 | $ - | $ 5,888 | |||||||||||||||||||
Collectively evaluated for impairment | 15,226 | 5,339 | 1,120 | 522 | 8 | 22,215 | |||||||||||||||||||
Total allowance for loan losses | $ 19,051 | $ 6,881 | $ 1,120 | $1,043 | $ 8 | $ 28,103 | |||||||||||||||||||
(1) See note 3 to financial statements in this report. |
Foreclosed_Real_Estate_and_Val1
Foreclosed Real Estate and Valuation Allowance for Real Estate Losses (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||
Summary of Real Estate Acquired through Foreclosure by Property Type | ' | ||||||||||||||||
Real estate acquired through foreclosure by property type is summarized as follows: | |||||||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||||||
($ in thousands) | # of Properties | Amount (1) | # of Properties | Amount (1) | |||||||||||||
Commercial real estate | 3 | $ 5,334 | 2 | $2,790 | |||||||||||||
Multifamily | 1 | 6,685 | 3 | 12,000 | |||||||||||||
Land | - | - | 1 | 1,133 | |||||||||||||
Real estate acquired through foreclosure | 4 | $12,019 | 6 | $15,923 | |||||||||||||
(1) Reported net of any associated valuation allowance. | |||||||||||||||||
Summary of Activity in the Valuation Allowance for Real Estate Losses | ' | ||||||||||||||||
Activity in the valuation allowance for real estate losses is summarized as follows: | |||||||||||||||||
Quarter Ended | Nine-Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Valuation allowance at beginning of period | $6,044 | $7,945 | $5,339 | $6,037 | |||||||||||||
Provision for real estate losses | 250 | 1,025 | 955 | 2,933 | |||||||||||||
Real estate chargeoffs | (4,171 | ) | (3,642 | ) | (4,171 | ) | (3,642) | ||||||||||
Valuation allowance at end of period | $2,123 | $5,328 | $2,123 | $5,328 | |||||||||||||
Deposits_Tables
Deposits (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||
Scheduled Maturities of Certificates of Deposits | ' | ||||||||||||
Scheduled maturities of certificates of deposit accounts (CDs) are as follows: | |||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||
($ in thousands) | Amount | Wtd-Avg | Amount | Wtd-Avg | |||||||||
Stated Rate | Stated Rate | ||||||||||||
Within one year | $434,055 | 2.91% | $519,236 | 2.92% | |||||||||
Over one to two years | 175,921 | 2.02 | 181,698 | 2.79 | |||||||||
Over two to three years | 108,008 | 2.25 | 89,049 | 2.74 | |||||||||
Over three to four years | 105,813 | 2.60 | 60,119 | 3.02 | |||||||||
Over four years | 73,615 | 2.02 | 86,776 | 2.93 | |||||||||
$897,412 | 2.54% | $936,878 | 2.89% | ||||||||||
Lines_of_Credit_Tables
Lines of Credit (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||
Summary of Certain Information Regarding FHLB Advances | ' | ||||||||||||||||||||
The following is a summary of certain information regarding FHLB advances in the aggregate. | |||||||||||||||||||||
At or For the Quarter Ended | At or For the Nine-Months Ended | ||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Balance at period end | - | $ 7,000 | - | $ 7,000 | |||||||||||||||||
Maximum amount outstanding at any month end for the period | - | $10,500 | - | $13,500 | |||||||||||||||||
Average outstanding balance for the period | - | $ 9,511 | - | $11,215 | |||||||||||||||||
Weighted-average interest rate paid for the period | - | 4.31% | - | 4.26% | |||||||||||||||||
Weighted-average interest rate at period end | - | 4.22% | - | 4.22% | |||||||||||||||||
Subordinated_Debentures_Capita1
Subordinated Debentures - Capital Securities (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
Summary of Capital Securities Outstanding | ' | ||||||||||||||||||||
Capital Securities (commonly referred to as trust preferred securities) outstanding are summarized as follows: | |||||||||||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||||||||||
($ in thousands) | Principal | Accrued | Interest | Principal | Accrued | Interest | |||||||||||||||
Interest | Rate | Interest | Rate | ||||||||||||||||||
Payable | Payable | ||||||||||||||||||||
Capital Securities II - debentures due September 17, 2033 | $15,464 | $147 | 3.20% | $15,464 | $1,661 | 3.26% | |||||||||||||||
Capital Securities III - debentures due March 17, 2034 | 15,464 | 139 | 3.04% | 15,464 | 1,577 | 3.10% | |||||||||||||||
Capital Securities IV - debentures due September 20, 2034 | 15,464 | 119 | 2.65% | 15,464 | 1,370 | 2.71% | |||||||||||||||
Capital Securities V - debentures due December 15, 2036 | 10,310 | 58 | 1.90% | 10,310 | 1,620 | 1.96% | |||||||||||||||
$56,702 | $463 | $56,702 | $6,228 |
Common_Stock_Warrant_Options_a1
Common Stock Warrant, Options and Restricted Common Stock (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||
Summary of Selected Information Regarding Restricted Common Stock Awards made Under Plan | ' | ||||||||||||||||||||||||||||||||
A summary of activity in outstanding common stock options and related information follows: | |||||||||||||||||||||||||||||||||
Exercise Price Per Warrant/Option | Wtd-Avg. | ||||||||||||||||||||||||||||||||
Exercise | |||||||||||||||||||||||||||||||||
$5.42 (1) | $17.10 | $7.50 | $4.02 | $3.00 | $2.55 | Total | Price | ||||||||||||||||||||||||||
($ in thousands, except per share amounts) | |||||||||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 691,882 | 116,640 | 120,190 | 68,910 | 38,200 | 42,300 | 1,078,122 | $6.63 | |||||||||||||||||||||||||
Forfeited/expired (2) | - | (1,200 | ) | (1,200 | ) | (1,100 | ) | (1,900 | ) | (3,300) | (8,700) | $5.52 | |||||||||||||||||||||
Options exercised | - | - | - | (9,600 | ) | (3,200 | ) | (2,167) | (14,967) | $3.59 | |||||||||||||||||||||||
Outstanding at September 30, 2013 | 691,882 | 115,440 | 118,990 | 58,210 | 33,100 | 36,833 | 1,054,455 | $6.68 | |||||||||||||||||||||||||
Expiration date | 12/23/18 | 12/13/17 | 12/11/18 | 12/10/19 | 12/9/20 | 12/08/21 | |||||||||||||||||||||||||||
Vested and exercisable (3) | 100% | 100% | 100% | 100% | 67% | 33% | 96% | ||||||||||||||||||||||||||
Wtd-avg contractual remaining term (in years) | 5.2 | 4.2 | 5.2 | 6.2 | 7.2 | 8.2 | 5.4 | ||||||||||||||||||||||||||
Intrinsic value at September 30, 2013 (4) | $1,737 | - | $51 | $228 | $163 | $198 | $2,377 | ||||||||||||||||||||||||||
-1 | This is the warrant held by the U.S. Treasury as described in note 9 to the financial statements in this report. | ||||||||||||||||||||||||||||||||
-2 | Represent options forfeited or expired unexercised. | ||||||||||||||||||||||||||||||||
-3 | The $3.00 options further vest and become 100% exercisable on December 9, 2013. The $2.55 options further vest and become exercisable at the rate of 33.33% on December 8, 2013 and 2014. Full vesting may occur earlier upon the occurrence of certain events as defined in the option agreement. | ||||||||||||||||||||||||||||||||
-4 | Intrinsic value was calculated using the closing price of IBC’s common stock on September 30, 2013 of $7.93. | ||||||||||||||||||||||||||||||||
Summary of Outstanding Common Stock Warrant and Options | ' | ||||||||||||||||||||||||||||||||
A summary of selected information regarding restricted common stock awards made under the Plans during the nine months ended September 30, 2013 and 2012 follows: | |||||||||||||||||||||||||||||||||
($ in thousands, except per share amounts) | Stock Grant | Stock Grant | |||||||||||||||||||||||||||||||
Grant date of award | 1/24/13 | 1/19/12 | |||||||||||||||||||||||||||||||
Total restricted shares of stock awarded (1) | 330,700 | 465,400 | |||||||||||||||||||||||||||||||
Estimated fair value per share awarded (2) | $4.50 | $2.90 | |||||||||||||||||||||||||||||||
Total estimated fair value of award | $1,488 | $1,350 | |||||||||||||||||||||||||||||||
Awards scheduled to vest as follows: | |||||||||||||||||||||||||||||||||
Jan-13 | - | 256,800 | |||||||||||||||||||||||||||||||
Jan-14 | 49,566 | 133,455 | |||||||||||||||||||||||||||||||
Jan-15 | 170,888 | 75,145 | |||||||||||||||||||||||||||||||
Jan-16 | 110,246 | - | |||||||||||||||||||||||||||||||
330,700 | 465,400 | ||||||||||||||||||||||||||||||||
-1 | For the 2012 period, awards were as follows: a total of 175,000 shares to five executive officers (vesting in two installments, with two thirds vesting on the second anniversary of the grant and the remaining one third on the third anniversary of the grant); a total of 240,000 shares to six non-employee directors (vesting 100% on the first anniversary of the grant); and a total of 50,400 shares to other officers and employees (vesting in three equal installments, with one third on each of the next three anniversary dates of the grant). | ||||||||||||||||||||||||||||||||
For the 2013 period, awards were as follows: a total of 182,000 shares to five executive officers (vesting in two installments, with two thirds vesting on the second anniversary of the grant and the remaining one third on the third anniversary of the grant); a total of 80,000 shares to eight non-employee directors and 68,700 shares to other officers and employees (vesting in three equal installments, with one third on each of the next three anniversary dates of the grant). | |||||||||||||||||||||||||||||||||
-2 | Fair value of each award was estimated as of the grant date based on the closing market price of the common stock on the grant date. | ||||||||||||||||||||||||||||||||
Summary of Activity in IBCs Restricted Class A Common Stock | ' | ||||||||||||||||||||||||||||||||
A summary of activity in outstanding restricted common stock and related information follows: | |||||||||||||||||||||||||||||||||
Price Per Share | |||||||||||||||||||||||||||||||||
$2.35 | $2.90 | $4.50 | Total | ||||||||||||||||||||||||||||||
Outstanding at December 31, 2012 | 317,500 | 464,800 | - | 782,300 | |||||||||||||||||||||||||||||
Shares vested and no longer restricted | - | (256,600 | ) | - | (256,600) | ||||||||||||||||||||||||||||
Shares granted | - | - | 330,700 | 330,700 | |||||||||||||||||||||||||||||
Shares forfeited | (7,100 | ) | (6,133 | ) | (5,400) | (18,633) | |||||||||||||||||||||||||||
Outstanding at September 30, 2013 (1) (2) | 310,400 | 202,067 | 325,300 | 837,767 | |||||||||||||||||||||||||||||
Notes to the preceding table follow: | |||||||||||||||||||||||||||||||||
-1 | All outstanding shares of restricted common stock were unvested at September 30, 2013 and subject to forfeiture. Shares issued at a price of $2.35 on December 9, 2010 will vest 100% on December 9, 2013. Shares issued at a price of $2.90 on January 19, 2012 will vest as follows: 130,200 on January 19, 2014 and 71,867 on January 19, 2015. Shares issued at a price of $4.50 on January 24, 2013 will vest as follows: 47,767 on January 24, 2014, 169,100 on January 24, 2015 and 108,433 on January 24, 2016. | ||||||||||||||||||||||||||||||||
-2 | Vesting is subject to the grantee’s continued employment with us or, in the case of non-employee directors, the grantee’s continued service as our director on the vesting dates. All of the awards are subject to accelerated vesting upon the death or disability of the grantee or upon a change in control of IBC, as defined in the restricted stock agreements. The record holder of IBC’s restricted shares of common stock possesses all the rights of a holder of our common stock, including the right to receive dividends on and to vote the restricted shares. The restricted shares may not be sold, transferred, pledged, assigned, encumbered, or otherwise alienated or hypothecated until they become fully vested and transferable in accordance with the agreements. Prior to June 24, 2013, shares held by certain of our executive officers had further restrictions on transferability due to IBC’s participation in the TARP program. |
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Summary of Basic and Diluted Earnings Per Common Share | ' | ||||||||||||||||
Net earnings applicable to common stockholders and the weighted-average number of shares used for basic and diluted earnings per common share computations are summarized in the table that follows: | |||||||||||||||||
Quarter Ended | Nine-Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Basic Earnings Per Common Share: | |||||||||||||||||
Net earnings available to common stockholders | $2,588,000 | $2,225,000 | $9,230,000 | $7,347,000 | |||||||||||||
Weighted-Average number of common shares outstanding | 21,915,596 | 21,589,744 | 21,891,886 | 21,558,092 | |||||||||||||
Basic Earnings Per Common Share | $0.12 | $0.10 | $0.42 | $0.34 | |||||||||||||
Diluted Earnings Per Common Share: | |||||||||||||||||
Net earnings available to common stockholders | $2,588,000 | $2,225,000 | $9,230,000 | $7,347,000 | |||||||||||||
Weighted-Average number of common shares outstanding: | |||||||||||||||||
Common shares outstanding | 21,915,596 | 21,589,744 | 21,891,886 | 21,558,092 | |||||||||||||
Potential dilutive shares resulting from exercise of warrants /options (1) | 135,866 | 978 | 81,064 | 276 | |||||||||||||
Total average number of common shares outstanding used for dilution | 22,051,462 | 21,590,722 | 21,972,950 | 21,558,368 | |||||||||||||
Diluted Earnings Per Common Share | $0.12 | $0.10 | $0.42 | $0.34 | |||||||||||||
-1 | All outstanding options/warrants to purchase shares of our common stock were considered for the Diluted EPS computations and only those that were dilutive (as determined by using the treasury stock method prescribed by GAAP) were included in the diluted earnings per share computations above. For both the quarter and nine-month periods of 2013 and 2012 calculations, 234,430 and 1,041,122, respectively, of options/warrants to purchase shares of common stock were not dilutive because the exercise price per share of each option/warrant was above the average market price of our common stock during these periods. |
OffBalance_Sheet_Financial_Ins1
Off-Balance Sheet Financial Instruments (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Investments All Other Investments [Abstract] | ' | ||||||||
Summary of Contractual Amounts of Off-Balance Sheet Financial Instruments | ' | ||||||||
The contractual amounts of off-balance sheet financial instruments are as follows: | |||||||||
($ in thousands) | At September 30, 2013 | At December 31, 2012 | |||||||
Commitments to extend credit | $30,672 | $19,154 | |||||||
Unused lines of credit | 677 | 854 | |||||||
$31,349 | $20,008 |
Regulatory_Matters_and_Regulat1
Regulatory Matters and Regulatory Capital (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||||||||||
Summary of Regulatory Capital and Related Ratios | ' | ||||||||||||||||||||||||||||||||
Information regarding our regulatory capital and related ratios is summarized as follows: | |||||||||||||||||||||||||||||||||
INB | IBC Consolidated | ||||||||||||||||||||||||||||||||
At September 30, | At December 31, | At September 30, | At December 31, | ||||||||||||||||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Tier 1 capital (1) | $234,166 | $244,081 | $238,955 | $249,465 | |||||||||||||||||||||||||||||
Tier 2 capital | 15,377 | 15,566 | 15,416 | 15,620 | |||||||||||||||||||||||||||||
Total risk-based capital | $249,543 | $259,647 | $254,371 | $265,085 | |||||||||||||||||||||||||||||
Net risk-weighted assets for regulatory purposes | $1,218,718 | $1,232,670 | $1,221,807 | $1,238,024 | |||||||||||||||||||||||||||||
Average assets for regulatory purposes | $1,563,834 | $1,690,329 | $1,568,881 | $1,696,410 | |||||||||||||||||||||||||||||
Total capital to risk-weighted assets | 20.48% | 21.06% | 20.82% | 21.41% | |||||||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | 19.21% | 19.80% | 19.56% | 20.15% | |||||||||||||||||||||||||||||
Tier 1 capital to average assets | 14.97% | 14.44% | 15.23% | 14.71% | |||||||||||||||||||||||||||||
-1 | IBC’s consolidated Tier 1 capital for both dates included $55 million of IBC’s outstanding qualifying trust preferred securities, which are discussed in further detail in note 8 to the financial statements in this report . | ||||||||||||||||||||||||||||||||
Capital Adequacy | ' | ||||||||||||||||||||||||||||||||
The table that follows presents information regarding our actual capital and minimum capital requirements. | |||||||||||||||||||||||||||||||||
Actual Capital | Minimum | Minimum | Minimum | ||||||||||||||||||||||||||||||
Under Prompt | To Be “Well Capitalized” | Under Agreement | |||||||||||||||||||||||||||||||
Corrective | Under Prompt Corrective | With OCC | |||||||||||||||||||||||||||||||
Action Provisions | Action Provisions | ||||||||||||||||||||||||||||||||
($ in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||||||||
IBC Consolidated at September 30, 2013: | |||||||||||||||||||||||||||||||||
Total capital to risk-weighted assets (1) | $254,371 | 20.82% | $97,745 | 8.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets (1) | $238,955 | 19.56% | $48,872 | 4.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to average assets (1) | $238,955 | 15.23% | $62,755 | 4.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
IBC Consolidated at December 31, 2012: | |||||||||||||||||||||||||||||||||
Total capital to risk-weighted assets | $265,085 | 21.41% | $99,042 | 8.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | $249,465 | 20.15% | $49,521 | 4.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to average assets | $249,465 | 14.71% | $67,856 | 4.00% | NA | NA | NA | NA | |||||||||||||||||||||||||
INB at September 30, 2013: | |||||||||||||||||||||||||||||||||
Total capital to risk-weighted assets | $249,543 | 20.48% | $97,497 | 8.00% | $121,872 | 10.00% | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | $234,166 | 19.21% | $48,749 | 4.00% | $ 73,123 | 6.00% | NA | NA | |||||||||||||||||||||||||
Tier 1 capital to average assets | $234,166 | 14.97% | $62,553 | 4.00% | $ 78,192 | 5.00% | NA | NA | |||||||||||||||||||||||||
INB at December 31, 2012: | |||||||||||||||||||||||||||||||||
Total capital to risk-weighted assets | $259,647 | 21.06% | $98,614 | 8.00% | $123,267 | 10.00% | $147,920 | 12.00% | |||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | $244,081 | 19.80% | $49,307 | 4.00% | $ 73,960 | 6.00% | $123,267 | 10.00% | |||||||||||||||||||||||||
Tier 1 capital to average assets | $244,081 | 14.44% | $67,613 | 4.00% | $ 84,516 | 5.00% | $152,130 | 9.00% | |||||||||||||||||||||||||
-1 | Assuming IBC had excluded all of its eligible outstanding trust preferred securities (which totaled $55 million) from its Tier 1 capital and included the entire amount in its Tier 2 capital, consolidated proforma capital ratios at September 30, 2013 would have been 20.82%, 15.06% and 11.73%, respectively. | ||||||||||||||||||||||||||||||||
Additional Information Regarding Capital Adequacy | ' | ||||||||||||||||||||||||||||||||
The table that follows presents additional information regarding our capital adequacy at September 30, 2013. | |||||||||||||||||||||||||||||||||
INB Regulatory Capital | Consolidated Regulatory Capital | ||||||||||||||||||||||||||||||||
($ in thousands) | Actual | Required (1) | Excess | Actual | Required | Excess | |||||||||||||||||||||||||||
Total capital to risk-weighted assets | $249,543 | $121,872 | $127,671 | $254,371 | $97,745 | $156,626 | |||||||||||||||||||||||||||
Tier 1 capital to risk-weighted assets | $234,166 | $ 73,123 | $161,043 | $238,955 | $48,872 | $190,083 | |||||||||||||||||||||||||||
Tier 1 capital to average assets | $234,166 | $ 78,192 | $155,974 | $238,955 | $62,755 | $176,200 | |||||||||||||||||||||||||||
(1) Minimum amount required to be considered “Well-Capitalized.” |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Assets Measured at Fair Value on a Nonrecurring Basis | ' | ||||||||||||||||||||||||
The following tables provide information regarding our assets measured at fair value on a nonrecurring basis. | |||||||||||||||||||||||||
Outstanding Carrying Value | |||||||||||||||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||||||||||||||
($ in thousands) | Level 3 | Level 3 | |||||||||||||||||||||||
Impaired loans (1): | |||||||||||||||||||||||||
Commercial real estate | $45,956 | $50,795 | |||||||||||||||||||||||
Multifamily | 3,140 | 12,577 | |||||||||||||||||||||||
Land | 1,802 | 2,601 | |||||||||||||||||||||||
Total impaired loans | 50,898 | 65,973 | |||||||||||||||||||||||
Impaired securities (2) | 2,604 | 3,721 | |||||||||||||||||||||||
Real estate acquired through foreclosure | 12,019 | 15,923 | |||||||||||||||||||||||
Accumulated Losses on | Total Losses (Gains) (3) | ||||||||||||||||||||||||
Outstanding Balance as of: | Quarter Ended | Nine-Months Ended | |||||||||||||||||||||||
September 30, | December 31, | September 30, | September 30, | ||||||||||||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||
Impaired loans: | |||||||||||||||||||||||||
Commercial real estate | $10,294 | $ 9,979 | $ - | $ (254 | ) | $ 823 | $ (241) | ||||||||||||||||||
Multifamily | 598 | 3,092 | (7 | ) | (170 | ) | (964 | ) | (100) | ||||||||||||||||
Land | 500 | 521 | (2 | ) | - | (23 | ) | (493) | |||||||||||||||||
Total impaired loans | 11,392 | 13,592 | (9 | ) | (424 | ) | (164 | ) | (834) | ||||||||||||||||
Impaired securities | 5,197 | 4,233 | 273 | - | 964 | 157 | |||||||||||||||||||
Foreclosed real estate | 2,123 | 5,339 | 149 | 1,025 | 135 | 2,933 | |||||||||||||||||||
Totals | $18,712 | $23,164 | $413 | $ 601 | $935 | $2,256 | |||||||||||||||||||
-1 | Comprised of all nonaccrual loans and accruing TDRs. Outstanding carrying value excludes a specific valuation allowance included in the overall allowance for loan losses. See note 4 to the financial statements in this report. | ||||||||||||||||||||||||
-2 | Comprised of certain held-to maturity investments in trust preferred securities considered other than temporarily impaired. See note 2 to the financial statements in this report. | ||||||||||||||||||||||||
-3 | Represents total losses or (gains) recognized on all assets measured at fair value on a nonrecurring basis during the period indicated. The losses or (gains) for impaired loans represent the change (before net chargeoffs) during the period in the corresponding specific valuation allowance, while the losses (gains) for foreclosed real estate represent writedowns in carrying values subsequent to foreclosure (recorded as provisions for real estate losses) adjusted for any recoveries of prior writedowns and gains or losses from the transfer/sale of the properties during the period. The losses on investment securities represent other than temporary impairment “OTTI” writedowns recorded as a component of noninterest income (as described in note 2 to the financial statements in this report). | ||||||||||||||||||||||||
Change in Assets Measured at Fair Value on a Nonrecurring Basis | ' | ||||||||||||||||||||||||
The following table presents information regarding the change in assets measured at fair value on a nonrecurring basis for the periods indicated | |||||||||||||||||||||||||
($ in thousands) | Impaired | Impaired | Foreclosed | ||||||||||||||||||||||
Securities | Loans | Real Estate | |||||||||||||||||||||||
Quarter Ended September 30, 2013 | |||||||||||||||||||||||||
Balance at beginning of period | $2,923 | $50,533 | $14,869 | ||||||||||||||||||||||
Net new impaired loans | - | 514 | - | ||||||||||||||||||||||
Other than temporary impairment write downs | (273 | ) | - | - | |||||||||||||||||||||
Principal repayments/sales | (46 | ) | (149 | ) | -2,701 | ||||||||||||||||||||
Writedowns of carrying value subsequent to foreclosure | - | - | -250 | ||||||||||||||||||||||
Gains from sales | - | - | 101 | ||||||||||||||||||||||
Balance at end of period | $2,604 | $50,898 | $12,019 | ||||||||||||||||||||||
Nine-Months Ended September 30, 2013 | |||||||||||||||||||||||||
Balance at beginning of period | $3,721 | $65,973 | $15,923 | ||||||||||||||||||||||
Net new impaired loans | - | 8,761 | - | ||||||||||||||||||||||
Impaired loans transferred to foreclosed real estate | - | (3,040 | ) | 3,040 | |||||||||||||||||||||
Other than temporary impairment write downs | (964 | ) | - | - | |||||||||||||||||||||
Principal repayments/sales | (153 | ) | (18,858 | ) | -6,809 | ||||||||||||||||||||
Chargeoffs of impaired loans | - | (1,938 | ) | - | |||||||||||||||||||||
Writedowns of carrying value subsequent to foreclosure | - | - | -1,029 | ||||||||||||||||||||||
Recoveries of prior writedowns | - | - | 74 | ||||||||||||||||||||||
Gains from sales | - | - | 820 | ||||||||||||||||||||||
Balance at end of period | $2,604 | $50,898 | $12,019 | ||||||||||||||||||||||
The following table presents information regarding the change in assets measured at fair value on a nonrecurring basis for the periods indicated. | |||||||||||||||||||||||||
($ in thousands) | Impaired | Impaired | Foreclosed | ||||||||||||||||||||||
Securities | Loans | Real Estate | |||||||||||||||||||||||
Quarter Ended September 30, 2012 | |||||||||||||||||||||||||
Balance at beginning of period | $4,221 | $65,240 | $26,370 | ||||||||||||||||||||||
Net new impaired loans | - | 872 | - | ||||||||||||||||||||||
Impaired loans transferred to foreclosed real estate | - | (1,457 | ) | 1,457 | |||||||||||||||||||||
Principal repayments/sales | - | (1,983 | ) | (4,944) | |||||||||||||||||||||
Chargeoffs of impaired loans | - | (548 | ) | - | |||||||||||||||||||||
Writedowns of carrying value subsequent to foreclosure | - | - | (1,025) | ||||||||||||||||||||||
Balance at end of period | $4,221 | $62,124 | $21,858 | ||||||||||||||||||||||
Nine-Months Ended September 30, 2012 | |||||||||||||||||||||||||
Balance at beginning of period | $4,378 | $66,269 | $28,278 | ||||||||||||||||||||||
Net new impaired loans | - | 8,254 | - | ||||||||||||||||||||||
Impaired loans transferred to foreclosed real estate | - | (1,457 | ) | 1,457 | |||||||||||||||||||||
Other than temporary impairment write downs | (157 | ) | - | - | |||||||||||||||||||||
Principal repayments/sales | - | (8,466 | ) | (4,944) | |||||||||||||||||||||
Chargeoffs of impaired loans | - | (2,476 | ) | - | |||||||||||||||||||||
Writedowns of carrying value subsequent to foreclosure | - | - | (2,933) | ||||||||||||||||||||||
Balance at end of period | $4,221 | $62,124 | $21,858 | ||||||||||||||||||||||
Carrying and Estimated Fair Values of Financial Instruments | ' | ||||||||||||||||||||||||
The carrying and estimated fair values of our financial instruments are as follows: | |||||||||||||||||||||||||
At September 30, 2013 | At December 31, 2012 | ||||||||||||||||||||||||
($ in thousands) | Carrying | Fair | Carrying | Fair | |||||||||||||||||||||
Value | Value | Value | Value | ||||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||||||
Cash and cash equivalents (1) | $ | 30,253 | $ | 30,253 | $ | 60,395 | $ | 60,395 | |||||||||||||||||
Time deposits with banks (1) | 5,370 | 5,370 | 5,170 | 5,170 | |||||||||||||||||||||
Securities available for sale, net (1) | 1,016 | 1,016 | 1,000 | 1,000 | |||||||||||||||||||||
Securities held to maturity, net (2) | 416,321 | 410,304 | 443,777 | 442,166 | |||||||||||||||||||||
FRB and FHLB stock (3) | 8,237 | 8,237 | 8,151 | 8,151 | |||||||||||||||||||||
Loans receivable, net (3) | 1,073,500 | 1,072,203 | 1,079,363 | 1,102,333 | |||||||||||||||||||||
Loan fees receivable (3) | 2,511 | 1,973 | 3,108 | 2,547 | |||||||||||||||||||||
Accrued interest receivable (3) | 4,735 | 4,735 | 5,191 | 5,191 | |||||||||||||||||||||
Total Financial Assets | $ | 1,541,943 | $ | 1,534,091 | $ | 1,606,155 | $ | 1,626,953 | |||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||||||
Deposits (3) | $ | 1,298,403 | 1,312,522 | $ | 1,362,619 | $ | 1,389,629 | ||||||||||||||||||
Accrued interest payable on deposits (3) | 1,398 | 1,398 | 2,379 | 2,379 | |||||||||||||||||||||
Borrowed funds plus accrued interest payable (3) | 57,165 | 56,924 | 62,930 | 62,448 | |||||||||||||||||||||
Off-Balance Sheet Financial Instruments: | |||||||||||||||||||||||||
Commitments to lend (3) | 536 | 536 | 386 | 386 | |||||||||||||||||||||
Total Financial Liabilities | $ | 1,357,502 | $ | 1,371,380 | $ | 1,428,314 | $ | 1,454,842 | |||||||||||||||||
Net Financial Assets | $ | 184,441 | $ | 162,711 | $ | 177,841 | $ | 172,111 | |||||||||||||||||
(1) | We consider these fair value measurements to be Level 1. | ||||||||||||||||||||||||
(2) | We consider these fair value measurements (except for those related to our corporate security investments, which are considered Level 3) to be Level 1. | ||||||||||||||||||||||||
(3) | We consider these fair value measurements to be Level 3. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies - Additional Information (Detail) | Sep. 30, 2013 | Dec. 31, 2012 |
Significant Accounting Policies [Line Items] | ' | ' |
Capital to risk-weighted assets ratio | 19.56% | 20.15% |
Capital conservation buffer | 2.50% | ' |
Ratio of Tier 1 capital to risk-weighted assets | 4.00% | 4.00% |
Minimum leverage ratio | 4.00% | ' |
Minimum [Member] | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' |
Ratio of Tier 1 capital to risk-weighted assets | 4.00% | ' |
Maximum [Member] | ' | ' |
Significant Accounting Policies [Line Items] | ' | ' |
Ratio of Tier 1 capital to risk-weighted assets | 6.00% | ' |
Securities_Held_to_Maturity_an2
Securities Held to Maturity and Available for Sale - Carrying Value (Amortized Cost) and Estimated Fair Value of Securities Held to Maturity (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Security | Security |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Number of Securities | 241 | 222 |
Amortized Cost | $416,321 | $443,777 |
Gross Unrealized Gains | 715 | 1,760 |
Gross Unrealized Losses | 6,732 | 3,371 |
Estimated Fair Value | 410,304 | 442,166 |
Wtd-Avg Yield | 1.14% | 1.05% |
Wtd-Avg Expected Life | '3 years 3 months 18 days | '2 years |
Wtd-Avg Remaining Maturity | '6 years 3 months 18 days | '7 years 1 month 6 days |
U.S. Government Agencies [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Number of Securities | 176 | 165 |
Amortized Cost | 333,124 | 355,244 |
Gross Unrealized Gains | 490 | 1,109 |
Gross Unrealized Losses | 4,163 | 233 |
Estimated Fair Value | 329,451 | 356,120 |
Wtd-Avg Yield | 0.93% | 0.87% |
Wtd-Avg Expected Life | '2 years 10 months 24 days | '1 year 7 months 6 days |
Wtd-Avg Remaining Maturity | '4 years 1 month 6 days | '4 years 7 months 6 days |
Residential Mortgage-backed [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Number of Securities | 56 | 48 |
Amortized Cost | 80,061 | 84,279 |
Gross Unrealized Gains | 225 | 651 |
Gross Unrealized Losses | 640 | 72 |
Estimated Fair Value | 79,646 | 84,858 |
Wtd-Avg Yield | 1.97% | 1.76% |
Wtd-Avg Expected Life | '4 years 7 months 6 days | '3 years 3 months 18 days |
Wtd-Avg Remaining Maturity | '15 years | '17 years 3 months 18 days |
State and Municipal [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Number of Securities | 1 | 1 |
Amortized Cost | 532 | 533 |
Gross Unrealized Losses | 3 | 3 |
Estimated Fair Value | 529 | 530 |
Wtd-Avg Yield | 1.25% | 1.25% |
Wtd-Avg Expected Life | '3 years 6 months | '4 years 2 months 12 days |
Wtd-Avg Remaining Maturity | '3 years 6 months | '4 years 3 months 18 days |
Corporate [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Number of Securities | 8 | 8 |
Amortized Cost | 2,604 | 3,721 |
Gross Unrealized Losses | 1,926 | 3,063 |
Estimated Fair Value | $678 | $658 |
Wtd-Avg Yield | 2.00% | 2.11% |
Wtd-Avg Expected Life | '19 years 6 months | '20 years 3 months 18 days |
Wtd-Avg Remaining Maturity | '20 years 2 months 12 days | '20 years 10 months 24 days |
Securities_Held_to_Maturity_an3
Securities Held to Maturity and Available for Sale - Carrying Value (Amortized Cost) and Estimated Fair Value of Securities Held to Maturity (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | $416,321,000 | $443,777,000 |
Other than temporary impairment charges | 5,200,000 | 4,200,000 |
Government National Mortgage Association [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | 14,500,000 | 18,700,000 |
Federal National Mortgage Association [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | 46,300,000 | 40,000,000 |
Federal Home Loan Mortgage Corporation Participation Certificates [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Amortized Cost | $19,300,000 | $25,600,000 |
Securities_Held_to_Maturity_an4
Securities Held to Maturity and Available for Sale - Continuous Unrealized Loss Position (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Security | Security |
Long Term Debt Maturity [Line Items] | ' | ' |
Number of Securities | 184 | 76 |
Less Than Twelve Months, Estimated Fair Value | $307,527 | $154,376 |
Less Than Twelve Months, Gross Unrealized Losses | 4,789 | 308 |
Twelve Months or Longer, Estimated Fair Value | 1,595 | 658 |
Twelve Months or Longer, Gross Unrealized Losses | 1,943 | 3,063 |
Total Estimated Fair Value | 309,122 | 155,034 |
Total Gross Unrealized Losses | 6,732 | 3,371 |
U.S. Government Agencies [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Number of Securities | 137 | 53 |
Less Than Twelve Months, Estimated Fair Value | 257,171 | 129,365 |
Less Than Twelve Months, Gross Unrealized Losses | 4,163 | 233 |
Total Estimated Fair Value | 257,171 | 129,365 |
Total Gross Unrealized Losses | 4,163 | 233 |
Residential Mortgage-backed [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Number of Securities | 38 | 14 |
Less Than Twelve Months, Estimated Fair Value | 49,827 | 24,481 |
Less Than Twelve Months, Gross Unrealized Losses | 623 | 72 |
Twelve Months or Longer, Estimated Fair Value | 917 | ' |
Twelve Months or Longer, Gross Unrealized Losses | 17 | ' |
Total Estimated Fair Value | 50,744 | 24,481 |
Total Gross Unrealized Losses | 640 | 72 |
State and Municipal [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Number of Securities | 1 | 1 |
Less Than Twelve Months, Estimated Fair Value | 529 | 530 |
Less Than Twelve Months, Gross Unrealized Losses | 3 | 3 |
Total Estimated Fair Value | 529 | 530 |
Total Gross Unrealized Losses | 3 | 3 |
Corporate [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Number of Securities | 8 | 8 |
Twelve Months or Longer, Estimated Fair Value | 678 | 658 |
Twelve Months or Longer, Gross Unrealized Losses | 1,926 | 3,063 |
Total Estimated Fair Value | 678 | 658 |
Total Gross Unrealized Losses | $1,926 | $3,063 |
Securities_Held_to_Maturity_an5
Securities Held to Maturity and Available for Sale - Other Information Related to Impaired Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Long Term Debt Maturity [Line Items] | ' | ' |
Estimated Fair Value | $410,304 | $442,166 |
Unrealized Loss | -6,732 | -3,371 |
Trust Preferred Securities [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Cost Basis | 7,801 | 7,954 |
Write Downs | -5,197 | -4,233 |
Adj. Cost Basis | 2,604 | 3,721 |
Estimated Fair Value | 678 | 658 |
Unrealized Loss | -1,926 | -3,063 |
PV of Expected Cash Flows | 6,225 | 5,826 |
Trust Preferred Securities [Member] | 74041PAEO [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Credit Rating | 'C | 'C |
Cost Basis | 998 | 999 |
Write Downs | -918 | -797 |
Adj. Cost Basis | 80 | 202 |
Estimated Fair Value | 29 | 31 |
Unrealized Loss | -51 | -171 |
% of Collateral Defaulted | 43.20% | 39.23% |
% of Collateral Deferred | 14.80% | 13.76% |
# of Banks in Pool | 39 | 39 |
Discount Margin | 1.92% | 1.92% |
Discount rate | 5.22% | 4.04% |
PV of Expected Cash Flows | 338 | 348 |
Trust Preferred Securities [Member] | 74040XAD6 [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Credit Rating | 'CC | 'C+ |
Cost Basis | 995 | 1,010 |
Write Downs | -485 | -316 |
Adj. Cost Basis | 510 | 694 |
Estimated Fair Value | 176 | 180 |
Unrealized Loss | -334 | -514 |
% of Collateral Defaulted | 17.20% | 16.31% |
% of Collateral Deferred | 9.80% | 9.19% |
# of Banks in Pool | 54 | 54 |
Discount Margin | 1.64% | 1.64% |
Discount rate | 5.17% | 3.97% |
PV of Expected Cash Flows | 978 | 989 |
Trust Preferred Securities [Member] | 74040XAE4 [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Credit Rating | 'CC | 'C+ |
Cost Basis | 973 | 988 |
Write Downs | -462 | -294 |
Adj. Cost Basis | 511 | 694 |
Estimated Fair Value | 176 | 180 |
Unrealized Loss | -335 | -514 |
% of Collateral Defaulted | 17.20% | 16.31% |
% of Collateral Deferred | 9.80% | 9.19% |
# of Banks in Pool | 54 | 54 |
Discount Margin | 1.85% | 1.85% |
Discount rate | 5.39% | 4.18% |
PV of Expected Cash Flows | 953 | 959 |
Trust Preferred Securities [Member] | 74040XAE4 [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Credit Rating | 'CC | 'C+ |
Cost Basis | 973 | 988 |
Write Downs | -462 | -294 |
Adj. Cost Basis | 511 | 694 |
Estimated Fair Value | 176 | 180 |
Unrealized Loss | -335 | -514 |
% of Collateral Defaulted | 17.20% | 16.31% |
% of Collateral Deferred | 9.80% | 9.19% |
# of Banks in Pool | 54 | 54 |
Discount Margin | 1.85% | 1.85% |
Discount rate | 5.39% | 4.18% |
PV of Expected Cash Flows | 953 | 959 |
Trust Preferred Securities [Member] | 74040YAF9 [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Credit Rating | 'CC- | 'C |
Cost Basis | 900 | 952 |
Write Downs | -767 | -718 |
Adj. Cost Basis | 133 | 234 |
Estimated Fair Value | 33 | 32 |
Unrealized Loss | -100 | -202 |
% of Collateral Defaulted | 29.00% | 27.24% |
% of Collateral Deferred | 5.90% | 13.28% |
# of Banks in Pool | 58 | 58 |
Discount Margin | 1.88% | 1.88% |
Discount rate | 5.32% | 4.04% |
PV of Expected Cash Flows | 769 | 642 |
Trust Preferred Securities [Member] | 74040YAE2 [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Credit Rating | 'CC- | 'C |
Cost Basis | 919 | 972 |
Write Downs | -787 | -737 |
Adj. Cost Basis | 132 | 235 |
Estimated Fair Value | 33 | 32 |
Unrealized Loss | -99 | -203 |
% of Collateral Defaulted | 29.00% | 27.24% |
% of Collateral Deferred | 5.90% | 13.28% |
# of Banks in Pool | 58 | 58 |
Discount Margin | 1.70% | 1.70% |
Discount rate | 5.14% | 3.86% |
PV of Expected Cash Flows | 785 | 655 |
Trust Preferred Securities [Member] | 74041UAE9 [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Credit Rating | 'C+ | 'C+ |
Cost Basis | 1,021 | 1,022 |
Write Downs | -658 | -539 |
Adj. Cost Basis | 363 | 483 |
Estimated Fair Value | 27 | 11 |
Unrealized Loss | -336 | -472 |
% of Collateral Defaulted | 8.00% | 7.80% |
% of Collateral Deferred | 29.00% | 31.17% |
# of Banks in Pool | 64 | 64 |
Discount Margin | 1.36% | 1.36% |
Discount rate | 4.78% | 3.61% |
PV of Expected Cash Flows | 725 | 638 |
Trust Preferred Securities [Member] | 74041UAE9 [Member] | ' | ' |
Long Term Debt Maturity [Line Items] | ' | ' |
Credit Rating | 'C+ | 'C+ |
Cost Basis | 1,022 | 1,023 |
Write Downs | -658 | -538 |
Adj. Cost Basis | 364 | 485 |
Estimated Fair Value | 28 | 12 |
Unrealized Loss | -336 | -473 |
% of Collateral Defaulted | 8.00% | 7.80% |
% of Collateral Deferred | 29.00% | 31.17% |
# of Banks in Pool | 64 | 64 |
Discount Margin | 1.39% | 1.39% |
Discount rate | 4.81% | 3.64% |
PV of Expected Cash Flows | $724 | $636 |
Securities_Held_to_Maturity_an6
Securities Held to Maturity and Available for Sale - Other Information Related to Impaired Loans (Parenthetical) (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Long Term Debt Maturity [Line Items] | ' |
Interest payment received on cusips# 74040XAD6, 74040XAE4, 74040YAF9 and 74040YAE2 | $153,000 |
OTTI assumptions, annual default recovery rate | 15.00% |
OTTI assumptions, default recovery lag period | '2 years |
OTTI assumptions, annual prepayment percentage | 1.00% |
OTTI assumptions, prepayment percentage at maturity | 100.00% |
OTTI assumptions, annual default rate | 0.75% |
Other assumptions utilized | 'We assumed a 15% recovery after a 2 year lag, and for banks that were paying we assumed prepayments of 1% annually and 100% at maturity and annual defaults of 75 basis points. |
Minimum [Member] | ' |
Long Term Debt Maturity [Line Items] | ' |
Texas ratio | 0.75 |
Securities_Held_to_Maturity_an7
Securities Held to Maturity and Available for Sale - Credit Losses Recognized on Securities (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Investments Debt And Equity Securities [Abstract] | ' | ' | ' | ' |
Balance at beginning of period | $4,924 | $3,808 | $4,233 | $3,651 |
Additional credit losses on debt securities for which OTTI was previously recognized | 273 | ' | 964 | 157 |
Balance at end of period | $5,197 | $3,808 | $5,197 | $3,808 |
Securities_Held_to_Maturity_an8
Securities Held to Maturity and Available for Sale - Summary of Carrying Value (Amortized Cost) and Fair Value of Securities Held to Maturity (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Due in one year or less, Amortized Cost | $17,094 | ' |
Due in one year or less, Estimated Fair Value | 17,196 | ' |
Due in one year or less, Wtd-Avg Yield | 1.24% | ' |
Due after one year through five years, Amortized Cost | 243,465 | ' |
Due after one year through five years, Estimated Fair Value | 241,627 | ' |
Due after one year through five years, Wtd-Avg Yield | 0.85% | ' |
Due after five years through ten years, Amortized Cost | 98,322 | ' |
Due after five years through ten years, Estimated Fair Value | 96,382 | ' |
Due after five years through ten years, Wtd-Avg Yield | 1.27% | ' |
Due after ten years, Amortized Cost | 57,440 | ' |
Due after ten years, Estimated Fair Value | 55,099 | ' |
Due after ten years, Wtd-Avg Yield | 2.09% | ' |
Securities held to maturity, Total Amortized Cost | 416,321 | ' |
Estimated Fair Value | $410,304 | $442,166 |
Securities held to maturity, Wtd-Avg Yield | 1.14% | 1.05% |
Securities_Held_to_Maturity_an9
Securities Held to Maturity and Available for Sale - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Securities available for sale, net | $1,016 | $1,000 |
Shares owned in an intermediate bond fund | 91,210 | 90,000 |
Loans_Receivable_Major_Classif
Loans Receivable - Major Classification of Loans Receivable (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | Loans | Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross, # of Loans | 578 | ' | 568 | ' | ' | ' |
Loans receivable, gross, Amount | $1,104,100 | ' | $1,111,063 | ' | ' | ' |
Deferred loan fees | -3,823 | ' | -3,597 | ' | ' | ' |
Loans receivable, net of deferred fees | 1,100,277 | ' | 1,107,466 | ' | ' | ' |
Allowance for loan losses | -26,777 | -26,455 | -28,103 | -28,382 | -28,844 | -30,415 |
Loans receivable, net | 1,073,500 | ' | 1,079,363 | ' | ' | ' |
Loans Secured by Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross, # of Loans | 545 | ' | 538 | ' | ' | ' |
Loans receivable, gross, Amount | 1,102,623 | ' | 1,109,755 | ' | ' | ' |
All Other Loans [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross, # of Loans | 33 | ' | 30 | ' | ' | ' |
Loans receivable, gross, Amount | 1,477 | ' | 1,308 | ' | ' | ' |
Commercial Real Estate [Member] | Loans Secured by Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross, # of Loans | 383 | ' | 376 | ' | ' | ' |
Loans receivable, gross, Amount | 817,572 | ' | 852,213 | ' | ' | ' |
Multifamily [Member] | Loans Secured by Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross, # of Loans | 139 | ' | 142 | ' | ' | ' |
Loans receivable, gross, Amount | 210,508 | ' | 208,699 | ' | ' | ' |
One to Four Family [Member] | Loans Secured by Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross, # of Loans | 19 | ' | 13 | ' | ' | ' |
Loans receivable, gross, Amount | 68,662 | ' | 41,676 | ' | ' | ' |
Land Loans [Member] | Loans Secured by Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross, # of Loans | 4 | ' | 7 | ' | ' | ' |
Loans receivable, gross, Amount | 5,881 | ' | 7,167 | ' | ' | ' |
Business Loans [Member] | All Other Loans [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross, # of Loans | 19 | ' | 18 | ' | ' | ' |
Loans receivable, gross, Amount | 1,130 | ' | 949 | ' | ' | ' |
Consumer Loans [Member] | All Other Loans [Member] | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' |
Loans receivable, gross, # of Loans | 14 | ' | 12 | ' | ' | ' |
Loans receivable, gross, Amount | $347 | ' | $359 | ' | ' | ' |
Loans_Receivable_Additional_In
Loans Receivable - Additional Information (Detail) (USD $) | 9 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
Debt | Loans | Nonaccrual Loans [Member] | Nonaccrual Loans [Member] | Accruing Loans [Member] | Accruing Loans [Member] | ||
Debt | Loans | Loans | |||||
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Total loans | ' | ' | ' | $39,500,000 | $45,900,000 | ' | ' |
Troubled debt restructured loans | ' | ' | ' | ' | ' | 11,400,000 | 20,100,000 |
90 days past due and still accruing interest loan | 18,917,000 | ' | 10,042,000 | ' | ' | 18,400,000 | 4,400,000 |
Number of loans, 90 days past due and still accruing | ' | ' | ' | ' | ' | 7 | 2 |
Restructured loans | ' | 0 | ' | ' | ' | ' | ' |
TDR defaulted | 1 | 0 | ' | ' | ' | ' | ' |
Amount of TDR defaulted | 3,000,000 | ' | ' | ' | ' | ' | ' |
TDR matured | $1,900,000 | ' | ' | ' | ' | ' | ' |
Loans_Receivable_Summary_of_Im
Loans Receivable - Summary of Impaired Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Loans | Loans |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | $50,898 | $65,973 |
Specific Valuation Allowance | 4,757 | 5,888 |
Total Unpaid Principal | 58,339 | 74,414 |
# of Loans | 14 | 23 |
NY [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 8,779 | 21,934 |
FL [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 27,387 | 39,570 |
NJ [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 500 | 1,383 |
GA [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 8,695 | ' |
CT [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 2,735 | ' |
OH [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 1,000 | 1,000 |
SD [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 1,802 | 2,086 |
Retail [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 21,519 | 21,842 |
Specific Valuation Allowance | 1,661 | 1,966 |
Total Unpaid Principal | 28,446 | 27,596 |
# of Loans | 7 | 6 |
Retail [Member] | NY [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 8,779 | 11,837 |
Retail [Member] | FL [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 9,005 | 9,005 |
Retail [Member] | NJ [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Retail [Member] | GA [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Retail [Member] | CT [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 2,735 | ' |
Retail [Member] | OH [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 1,000 | 1,000 |
Retail [Member] | SD [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Office Building [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 23,937 | 18,871 |
Specific Valuation Allowance | 1,977 | 583 |
Total Unpaid Principal | 24,451 | 19,621 |
# of Loans | 3 | 3 |
Office Building [Member] | NY [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Office Building [Member] | FL [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 15,242 | 17,988 |
Office Building [Member] | NJ [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | 883 |
Office Building [Member] | GA [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 8,695 | ' |
Office Building [Member] | CT [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Office Building [Member] | OH [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Office Building [Member] | SD [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Mixed Use [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 500 | 9,132 |
Specific Valuation Allowance | 25 | 1,248 |
Total Unpaid Principal | 500 | 9,421 |
# of Loans | 1 | 4 |
Mixed Use [Member] | NY [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | 8,632 |
Mixed Use [Member] | FL [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Mixed Use [Member] | NJ [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 500 | 500 |
Mixed Use [Member] | GA [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Mixed Use [Member] | CT [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Mixed Use [Member] | OH [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Mixed Use [Member] | SD [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Warehouse [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | 950 |
Specific Valuation Allowance | ' | 28 |
Total Unpaid Principal | ' | 950 |
# of Loans | ' | 1 |
Warehouse [Member] | NY [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | 950 |
Warehouse [Member] | FL [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Warehouse [Member] | NJ [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Warehouse [Member] | GA [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Warehouse [Member] | CT [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Warehouse [Member] | OH [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Warehouse [Member] | SD [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Multi Family [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 3,140 | 12,577 |
Specific Valuation Allowance | 596 | 1,542 |
Total Unpaid Principal | 3,140 | 14,225 |
# of Loans | 2 | 6 |
Multi Family [Member] | NY [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Multi Family [Member] | FL [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 3,140 | 12,577 |
Multi Family [Member] | NJ [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Multi Family [Member] | GA [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Multi Family [Member] | CT [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Multi Family [Member] | OH [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Multi Family [Member] | SD [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Land [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | 1,802 | 2,601 |
Specific Valuation Allowance | 498 | 521 |
Total Unpaid Principal | 1,802 | 2,601 |
# of Loans | 1 | 3 |
Land [Member] | NY [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | 515 |
Land [Member] | FL [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Land [Member] | NJ [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Land [Member] | GA [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Land [Member] | CT [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Land [Member] | OH [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | ' | ' |
Land [Member] | SD [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Recorded Investment by State | $1,802 | $2,086 |
Loans_Receivable_Other_Informa
Loans Receivable - Other Information Related to Impaired Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Nonaccrual Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Average recorded investment in loans | $39,159 | $49,788 | $41,039 | $53,809 |
Total cash basis interest income recognized on nonaccrual loans | 521 | 633 | 1,729 | 2,055 |
TDR Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
Average recorded investment in loans | 11,423 | 14,380 | 14,482 | 10,341 |
Total interest income recognized on accruing TDR loans under modified terms | $152 | $233 | $581 | $493 |
Loans_Receivable_Age_Analysis_
Loans Receivable - Age Analysis of Loan Portfolio By Segment (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | $1,104,100 | $1,111,063 |
Current | 1,081,918 | 1,085,524 |
Past Due 31-59 Days | ' | 15,497 |
Past Due 60-89 Days | 3,265 | ' |
Past Due 90 or more Days | 18,917 | 10,042 |
Total Past Due | 22,182 | 25,539 |
Total Classified Nonaccrual | 39,517 | 45,898 |
Accruing Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 1,064,583 | 1,065,165 |
Current | 1,042,915 | 1,045,277 |
Past Due 31-59 Days | ' | 15,497 |
Past Due 60-89 Days | 3,265 | ' |
Past Due 90 or more Days | 18,403 | 4,391 |
Total Past Due | 21,668 | 19,888 |
Total Classified Nonaccrual | ' | ' |
Nonaccrual Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 39,517 | 45,898 |
Current | 39,003 | 40,247 |
Past Due 31-59 Days | ' | ' |
Past Due 60-89 Days | ' | ' |
Past Due 90 or more Days | 514 | 5,651 |
Total Past Due | 514 | 5,651 |
Total Classified Nonaccrual | 39,517 | 45,898 |
Commercial Real Estate [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 817,572 | 852,213 |
Commercial Real Estate [Member] | Accruing Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 780,338 | 816,357 |
Current | 758,670 | 799,130 |
Past Due 31-59 Days | ' | 12,836 |
Past Due 60-89 Days | 3,265 | ' |
Past Due 90 or more Days | 18,403 | 4,391 |
Total Past Due | 21,668 | 17,227 |
Total Classified Nonaccrual | ' | ' |
Commercial Real Estate [Member] | Nonaccrual Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 37,234 | 35,856 |
Current | 36,720 | 32,701 |
Past Due 31-59 Days | ' | ' |
Past Due 60-89 Days | ' | ' |
Past Due 90 or more Days | 514 | 3,155 |
Total Past Due | 514 | 3,155 |
Total Classified Nonaccrual | 37,234 | 35,856 |
Multi Family [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 210,508 | 208,699 |
Multi Family [Member] | Accruing Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 208,225 | 198,942 |
Current | 208,225 | 198,942 |
Past Due 31-59 Days | ' | ' |
Past Due 60-89 Days | ' | ' |
Past Due 90 or more Days | ' | ' |
Total Past Due | ' | ' |
Total Classified Nonaccrual | ' | ' |
Multi Family [Member] | Nonaccrual Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 2,283 | 9,757 |
Current | 2,283 | 7,261 |
Past Due 31-59 Days | ' | ' |
Past Due 60-89 Days | ' | ' |
Past Due 90 or more Days | ' | 2,496 |
Total Past Due | ' | 2,496 |
Total Classified Nonaccrual | 2,283 | 9,757 |
One to Four Family [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 68,662 | 41,676 |
One to Four Family [Member] | Accruing Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 68,662 | 41,676 |
Current | 68,662 | 41,676 |
Past Due 31-59 Days | ' | ' |
Past Due 60-89 Days | ' | ' |
Past Due 90 or more Days | ' | ' |
Total Past Due | ' | ' |
Total Classified Nonaccrual | ' | ' |
Land [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 5,881 | 7,167 |
Land [Member] | Accruing Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 5,881 | 6,882 |
Current | 5,881 | 4,221 |
Past Due 31-59 Days | ' | 2,661 |
Past Due 60-89 Days | ' | ' |
Past Due 90 or more Days | ' | ' |
Total Past Due | ' | 2,661 |
Total Classified Nonaccrual | ' | ' |
Land [Member] | Nonaccrual Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | ' | 285 |
Current | ' | 285 |
Past Due 31-59 Days | ' | ' |
Past Due 60-89 Days | ' | ' |
Past Due 90 or more Days | ' | ' |
Total Past Due | ' | ' |
Total Classified Nonaccrual | ' | 285 |
All Other [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 1,477 | 1,308 |
All Other [Member] | Accruing Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Total portfolio | 1,477 | 1,308 |
Current | 1,477 | 1,308 |
Past Due 31-59 Days | ' | ' |
Past Due 60-89 Days | ' | ' |
Past Due 90 or more Days | ' | ' |
Total Past Due | ' | ' |
Total Classified Nonaccrual | ' | ' |
Loans_Receivable_Age_Analysis_1
Loans Receivable - Age Analysis of Loan Portfolio By Segment (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Current | $1,081,918 | $1,085,524 |
Nonaccrual Loans [Member] | ' | ' |
Mortgage Loans on Real Estate [Line Items] | ' | ' |
Current | $35,800 | $36,300 |
Loans_Receivable_Information_R
Loans Receivable - Information Regarding Credit Quality of Loan Portfolio (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | $1,104,100 | $1,111,063 |
Allocation of allowance for loan losses | 26,777 | 28,103 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 817,572 | 852,213 |
Multi Family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 210,508 | 208,699 |
One to Four Family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 68,662 | 41,676 |
Land [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 5,881 | 7,167 |
All Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 1,477 | 1,308 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 1,022,445 | 1,016,424 |
Allocation of allowance for loan losses | 20,626 | 20,037 |
Pass [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 743,233 | 775,136 |
Pass [Member] | Multi Family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 204,994 | 193,738 |
Pass [Member] | One to Four Family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 68,662 | 41,676 |
Pass [Member] | Land [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 4,079 | 4,566 |
Pass [Member] | All Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 1,477 | 1,308 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 17,557 | 19,425 |
Allocation of allowance for loan losses | 410 | 443 |
Special Mention [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 15,183 | 17,041 |
Special Mention [Member] | Multi Family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 2,374 | 2,384 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 64,098 | 75,214 |
Allocation of allowance for loan losses | 5,741 | 7,623 |
Substandard [Member] | Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 59,156 | 60,036 |
Substandard [Member] | Multi Family [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | 3,140 | 12,577 |
Substandard [Member] | Land [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans | $1,802 | $2,601 |
Loans_Receivable_Information_R1
Loans Receivable - Information Regarding Credit Quality of Loan Portfolio (Parenthetical) (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
SecurityLoan | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Financing Receivable by TDRs | $47,149 | $56,367 |
Number of rated pass accruing TDR | 1 | ' |
Nonaccrual Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 39,500 | 45,900 |
Accruing Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 6,000 | 20,100 |
All Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 18,600 | 9,200 |
Pass [Member] | Accruing Loans One [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total Financing Receivable by TDRs | $5,400 | ' |
Loans_Receivable_Geographic_Di
Loans Receivable - Geographic Distribution of Loan Portfolio (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | $1,104,100 | $1,111,063 |
Total Loan Receivable, % of Total | 100.00% | 100.00% |
NY [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 667,265 | 717,141 |
Total Loan Receivable, % of Total | 60.00% | 64.50% |
FL [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 314,274 | 286,619 |
Total Loan Receivable, % of Total | 29.00% | 25.80% |
NJ [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 18,125 | 26,425 |
Total Loan Receivable, % of Total | 1.60% | 2.40% |
NORTH CAROLINA | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 17,746 | 14,256 |
Total Loan Receivable, % of Total | 1.60% | 1.30% |
PENNSYLVANIA | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 17,022 | 10,270 |
Total Loan Receivable, % of Total | 1.50% | 0.90% |
GA [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 16,246 | 11,752 |
Total Loan Receivable, % of Total | 1.50% | 1.10% |
VIRGINIA | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 11,560 | 11,758 |
Total Loan Receivable, % of Total | 1.00% | 1.10% |
KENTUCKY | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 10,619 | 7,512 |
Total Loan Receivable, % of Total | 1.00% | 0.70% |
SOUTH CAROLINA | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 9,272 | 5,853 |
Total Loan Receivable, % of Total | 0.80% | 0.50% |
CT [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 8,482 | 11,216 |
Total Loan Receivable, % of Total | 0.80% | 1.00% |
TN [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 5,626 | 770 |
Total Loan Receivable, % of Total | 0.50% | 0.00% |
OH [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 2,236 | 2,260 |
Total Loan Receivable, % of Total | 0.20% | 0.20% |
SD [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | 1,802 | 2,086 |
Total Loan Receivable, % of Total | 0.20% | 0.20% |
All Other States [Member] | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' |
Total loans | $3,825 | $3,145 |
Total Loan Receivable, % of Total | 0.30% | 0.30% |
Loans_Receivable_Information_R2
Loans Receivable - Information Regarding Loans Restructured (Detail) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 |
SecurityLoan | Commercial Real Estate [Member] | Land [Member] | |
SecurityLoan | SecurityLoan | ||
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' | ' |
Loans restructured, Number of Loans | 1 | 2 | 2 |
Loans restructured, Pre-Modification Recorded Investment | ' | $9,159 | $520 |
Loans restructured, Post-Modification Recorded Investment | ' | $9,159 | $520 |
Loans_Receivable_Distribution_
Loans Receivable - Distribution of TDRs by Accruing Versus Non-Accruing, by Segment and by Geographic (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | $47,149 | $56,367 |
NY [Member] | ' | ' |
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 8,265 | 18,478 |
FL [Member] | ' | ' |
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 27,387 | 33,920 |
NJ [Member] | ' | ' |
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | ' | 883 |
GA [Member] | ' | ' |
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 8,695 | ' |
OH [Member] | ' | ' |
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 1,000 | 1,000 |
SD [Member] | ' | ' |
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 1,802 | 2,086 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 42,207 | 43,685 |
Multi Family [Member] | ' | ' |
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 3,140 | 10,081 |
Land [Member] | ' | ' |
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 1,802 | 2,601 |
Non-accruing [Member] | Performing [Member] | ' | ' |
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | 35,768 | 36,291 |
Accruing [Member] | Performing [Member] | ' | ' |
Financing Receivable Modifications Number Of Contracts [Line Items] | ' | ' |
Total Financing Receivable by TDRs | $11,381 | $20,076 |
Allowance_for_Loan_Losses_Allo
Allowance for Loan Losses - Allowance for Loan Losses by Loan Type (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Multifamily [Member] | Multifamily [Member] | Multifamily [Member] | Multifamily [Member] | One to Four Family [Member] | One to Four Family [Member] | One to Four Family [Member] | One to Four Family [Member] | Land [Member] | Land [Member] | Land [Member] | Land [Member] | All Other [Member] | All Other [Member] | All Other [Member] | All Other [Member] | All Other [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at beginning of period | $26,455 | $28,844 | $28,103 | $30,415 | $17,596 | $18,343 | $19,051 | $19,156 | $5,098 | $8,480 | $6,881 | $8,848 | $2,795 | $502 | $1,120 | $332 | $956 | $1,509 | $1,043 | $2,069 | $10 | $8 | $10 | $10 | $10 |
Loan chargeoffs | ' | -548 | -1,938 | -2,476 | ' | -548 | -1,932 | -2,215 | ' | ' | -6 | -261 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan recoveries | 72 | 86 | 2,112 | 443 | 67 | 63 | 947 | 383 | 5 | 23 | 682 | 60 | ' | ' | ' | ' | ' | ' | 483 | ' | ' | ' | ' | ' | ' |
Provision (credit) for loan losses | 250 | ' | -1,500 | ' | -175 | 468 | -578 | 1,002 | 212 | -381 | -2,242 | -525 | 229 | 250 | 1,904 | 420 | -15 | -337 | -585 | -897 | -1 | 1 | ' | ' | ' |
Balance at end of period | $26,777 | $28,382 | $26,777 | $28,382 | $17,488 | $18,326 | $17,488 | $18,326 | $5,315 | $8,122 | $5,315 | $8,122 | $3,024 | $752 | $3,024 | $752 | $941 | $1,172 | $941 | $1,172 | $9 | $9 | $10 | $10 | $10 |
Allowance_for_Loan_Losses_Loan
Allowance for Loan Losses - Loans Receivable by Segment and Impairment Evaluation and Allowance for Loan Losses (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||||
Loans: | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | $50,898 | ' | $65,973 | ' | ' | ' |
Collectively evaluated for impairment | 1,053,202 | ' | 1,045,090 | ' | ' | ' |
Total loans | 1,104,100 | ' | 1,111,063 | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 4,757 | ' | 5,888 | ' | ' | ' |
Collectively evaluated for impairment | 22,020 | ' | 22,215 | ' | ' | ' |
Total allowance for loan losses | 26,777 | 26,455 | 28,103 | 28,382 | 28,844 | 30,415 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' | ' |
Loans: | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 45,955 | ' | 50,795 | ' | ' | ' |
Collectively evaluated for impairment | 771,617 | ' | 801,418 | ' | ' | ' |
Total loans | 817,572 | ' | 852,213 | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 3,663 | ' | 3,825 | ' | ' | ' |
Collectively evaluated for impairment | 13,825 | ' | 15,226 | ' | ' | ' |
Total allowance for loan losses | 17,488 | ' | 19,051 | ' | ' | ' |
Multifamily [Member] | ' | ' | ' | ' | ' | ' |
Loans: | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 3,141 | ' | 12,577 | ' | ' | ' |
Collectively evaluated for impairment | 207,367 | ' | 196,122 | ' | ' | ' |
Total loans | 210,508 | ' | 208,699 | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 596 | ' | 1,542 | ' | ' | ' |
Collectively evaluated for impairment | 4,719 | ' | 5,339 | ' | ' | ' |
Total allowance for loan losses | 5,315 | ' | 6,881 | ' | ' | ' |
One to Four Family [Member] | ' | ' | ' | ' | ' | ' |
Loans: | ' | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 68,662 | ' | 41,676 | ' | ' | ' |
Total loans | 68,662 | ' | 41,676 | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 3,024 | ' | 1,120 | ' | ' | ' |
Total allowance for loan losses | 3,024 | ' | 1,120 | ' | ' | ' |
Land [Member] | ' | ' | ' | ' | ' | ' |
Loans: | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 1,802 | ' | 2,601 | ' | ' | ' |
Collectively evaluated for impairment | 4,079 | ' | 4,566 | ' | ' | ' |
Total loans | 5,881 | ' | 7,167 | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 498 | ' | 521 | ' | ' | ' |
Collectively evaluated for impairment | 443 | ' | 522 | ' | ' | ' |
Total allowance for loan losses | 941 | ' | 1,043 | ' | ' | ' |
All Other [Member] | ' | ' | ' | ' | ' | ' |
Loans: | ' | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 1,477 | ' | 1,308 | ' | ' | ' |
Total loans | 1,477 | ' | 1,308 | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 9 | ' | 8 | ' | ' | ' |
Total allowance for loan losses | $9 | ' | $8 | ' | ' | ' |
Foreclosed_Real_Estate_and_Val2
Foreclosed Real Estate and Valuation Allowance for Real Estate Losses - Summary of Real Estate Acquired through Foreclosure by Property Type (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Property | Property |
Real Estate Properties [Line Items] | ' | ' |
# of Properties | 4 | 6 |
Amount | $12,019 | $15,923 |
Commercial Real Estate [Member] | ' | ' |
Real Estate Properties [Line Items] | ' | ' |
# of Properties | 3 | 2 |
Amount | 5,334 | 2,790 |
Multifamily [Member] | ' | ' |
Real Estate Properties [Line Items] | ' | ' |
# of Properties | 1 | 3 |
Amount | 6,685 | 12,000 |
Land [Member] | ' | ' |
Real Estate Properties [Line Items] | ' | ' |
# of Properties | ' | 1 |
Amount | ' | $1,133 |
Foreclosed_Real_Estate_and_Val3
Foreclosed Real Estate and Valuation Allowance for Real Estate Losses - Summary of Activity in Valuation Allowance for Real Estate Losses (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Real Estate [Abstract] | ' | ' | ' | ' |
Valuation allowance at beginning of period | $6,044 | $7,945 | $5,339 | $6,037 |
Provision for real estate losses | 250 | 1,025 | 955 | 2,933 |
Real estate chargeoffs | -4,171 | -3,642 | -4,171 | -3,642 |
Valuation allowance at end of period | $2,123 | $5,328 | $2,123 | $5,328 |
Deposits_Scheduled_Maturities_
Deposits - Scheduled Maturities of Certificates of Deposits (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Time Deposits By Maturity [Abstract] | ' | ' |
Within one year, Amount | $434,055 | $519,236 |
Over one to two years, Amount | 175,921 | 181,698 |
Over two to three years, Amount | 108,008 | 89,049 |
Over three to four years, Amount | 105,813 | 60,119 |
Over four years, Amount | 73,615 | 86,776 |
Total certificates of deposit, Amount | $897,412 | $936,878 |
Within one year, Wtd-Avg Stated Rate | 2.91% | 2.92% |
Over one to two years, Wtd-Avg Stated Rate | 2.02% | 2.79% |
Over two to three years, Wtd-Avg Stated Rate | 2.25% | 2.74% |
Over three to four years, Wtd-Avg Stated Rate | 2.60% | 3.02% |
Over four years, Wtd-Avg Stated Rate | 2.02% | 2.93% |
Total certificates of deposit, Wtd-Avg Stated Rate | 2.54% | 2.89% |
Deposits_Additional_Informatio
Deposits - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Assets Sold under Agreements to Repurchase [Line Items] | ' | ' |
CDs of $100,000 or more | $467,000,000 | $463,000,000 |
Brokered certificate deposits amount | 85,000,000 | 78,000,000 |
Due within one year | 434,055,000 | 519,236,000 |
Due over one to two years | 175,921,000 | 181,698,000 |
Due over two to three years | 108,008,000 | 89,049,000 |
Due over three to four years | 105,813,000 | 60,119,000 |
Due thereafter | 73,615,000 | 86,776,000 |
CDs of $100,000 or more [Member] | ' | ' |
Assets Sold under Agreements to Repurchase [Line Items] | ' | ' |
Due within one year | 220,000,000 | ' |
Due over one to two years | 77,000,000 | ' |
Due over two to three years | 60,000,000 | ' |
Due over three to four years | 64,000,000 | ' |
Due thereafter | 46,000,000 | ' |
Brokered CDs [Member] | ' | ' |
Assets Sold under Agreements to Repurchase [Line Items] | ' | ' |
Due within one year | 32,000,000 | ' |
Due over one to two years | 5,000,000 | ' |
Due over two to three years | 8,000,000 | ' |
Due over three to four years | 24,000,000 | ' |
Due thereafter | $16,000,000 | ' |
Brokered certificates deposits weighted average rate | 3.48% | ' |
Lines_of_Credit_Additional_Inf
Lines of Credit - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Borrowings | ' | $7,000,000 |
Federal Home Loan Bank of New York and Federal Reserve Bank of New York [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Unsecured credit lines | 24,000,000 | ' |
Additional total borrowings from FHLB and FRB | 441,000,000 | ' |
Borrowings | $0 | ' |
Lines_of_Credit_Summary_of_Cer
Lines of Credit - Summary of Certain Information Regarding FHLB Advances (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Debt Disclosure [Abstract] | ' | ' | ' | ' |
Balance at period end | ' | $7,000 | ' | $7,000 |
Maximum amount outstanding at any month end for the period | ' | 10,500 | ' | 13,500 |
Average outstanding balance for the period | ' | $9,511 | ' | $11,215 |
Weighted-average interest rate paid for the period | ' | 4.31% | ' | 4.26% |
Weighted-average interest rate at period end | ' | 4.22% | ' | 4.22% |
Subordinated_Debentures_Capita2
Subordinated Debentures - Capital Securities - Summary of Capital Securities Outstanding (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Accrued Interest Payable | $463 | $6,228 |
Capital Securities II [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal | 15,464 | 15,464 |
Accrued Interest Payable | 147 | 1,661 |
Interest Rate | 3.20% | 3.26% |
Capital Securities III [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal | 15,464 | 15,464 |
Accrued Interest Payable | 139 | 1,577 |
Interest Rate | 3.04% | 3.10% |
Capital Securities IV [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal | 15,464 | 15,464 |
Accrued Interest Payable | 119 | 1,370 |
Interest Rate | 2.65% | 2.71% |
Capital Securities V [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal | 10,310 | 10,310 |
Accrued Interest Payable | 58 | 1,620 |
Interest Rate | 1.90% | 1.96% |
Capital Securities [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal | 56,702 | 56,702 |
Accrued Interest Payable | $463 | $6,228 |
Subordinated_Debentures_Capita3
Subordinated Debentures - Capital Securities - Additional Information (Detail) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Debt Instrument [Line Items] | ' |
Capital Securities, net of IBC's capital contributions | $1.70 |
IBC's capital contributions | 55 |
Unamortized balance of issuance costs | 0.7 |
Capital Securities V [Member] | ' |
Debt Instrument [Line Items] | ' |
Capital Securities issuance costs | $0 |
Frequency of periodic interest payment | 'Quarterly |
Debt instrument interest rate | 1.65% |
Debt instrument, interest rate terms | '1.65% over 3 month libor |
Capital Securities II [Member] | ' |
Debt Instrument [Line Items] | ' |
Frequency of periodic interest payment | 'Quarterly |
Debt instrument interest rate | 2.95% |
Debt instrument, interest rate terms | '2.95% over 3 month libor |
Capital Securities III [Member] | ' |
Debt Instrument [Line Items] | ' |
Frequency of periodic interest payment | 'Quarterly |
Debt instrument interest rate | 2.79% |
Debt instrument, interest rate terms | '2.79% over 3 month libor |
Capital Securities IV [Member] | ' |
Debt Instrument [Line Items] | ' |
Frequency of periodic interest payment | 'Quarterly |
Debt instrument interest rate | 2.40% |
Debt instrument, interest rate terms | '2.40% over 3 month libor |
Junior Subordinated Debentures [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt instrument, limit on extension periods | 20 |
Debt instrument, interest payment, maximum extension period | '5 years |
Capital Securities, mandatory maturity period | '90 days |
Stockholders_Equity_and_Redemp1
Stockholders' Equity and Redemption of Preferred Stock - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | ||||
In Millions, except Share data, unless otherwise specified | Aug. 15, 2013 | Jun. 24, 2013 | Jun. 06, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Equity [Abstract] | ' | ' | ' | ' | ' | ' |
Capital stock, shares authorized to issue | ' | ' | ' | 62,300,000 | ' | ' |
Common stock, shares authorized | ' | ' | ' | 62,000,000 | 62,000,000 | ' |
Preferred stock, shares authorized | ' | ' | ' | 300,000 | 300,000 | ' |
Preferred stock issued | ' | ' | ' | 25,000 | 25,000 | 25,000 |
Duration of Warrant | ' | ' | ' | '10 years | ' | ' |
Number of shares to be exercised upon warrants | ' | ' | ' | 691,882 | ' | ' |
Conversion price for warrants | ' | ' | ' | 5.42 | ' | ' |
Treasury auctioned Shares | ' | ' | 25,000 | ' | ' | ' |
Number of Preferred stock | ' | ' | 6,250 | ' | ' | ' |
Purchase of Preferred stock shares by third parties | ' | ' | 18,750 | ' | ' | ' |
Closing price of the auctioned shares | ' | ' | $970 | ' | ' | ' |
Number of Preferred stock repurchased | ' | 6,250 | ' | ' | ' | ' |
Rate of Repurchase of shares | ' | $6.10 | ' | ' | ' | ' |
Additional accrued and unpaid dividends | ' | 1.2 | ' | ' | ' | ' |
Total shares repurchase | ' | 7.3 | ' | ' | ' | ' |
Preferred Stock outstanding redeemed | 18,750 | ' | ' | ' | ' | ' |
Effective date of the planned redemption | 15-Aug-13 | ' | ' | ' | ' | ' |
Purchase price of shares | $1,000 | ' | ' | ' | ' | ' |
Total expected cost to redeem shares | 22.6 | ' | ' | ' | ' | ' |
Preferred dividends | $3.90 | ' | ' | ' | ' | ' |
Common_Stock_Warrant_Options_a2
Common Stock Warrant, Options and Restricted Common Stock - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $231,000 | $309,000 | $731,000 | $885,000 |
Pre-tax, stock-based compensation cost related to all nonvested awards of options and restricted stock not yet recognized | 1,500,000 | ' | 1,500,000 | ' |
Options and restricted stock not yet recognized and will be recognized over a weighted-average period | ' | ' | '2 years | ' |
Net tax benefit | ' | ' | $150,000 | $0 |
Long Term Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Maximum number of shares of common stock that may be awarded | 2,250,000 | ' | 2,250,000 | ' |
Common stock were available for award | 777,993 | ' | 777,993 | ' |
Issuance of common stock option | ' | ' | 0 | 0 |
Common_Stock_Warrant_Options_a3
Common Stock Warrant, Options and Restricted Common Stock - Summary of Selected Information Regarding Restricted Common Stock Awards made under Plan (Detail) (USD $) | 9 Months Ended |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Outstanding | 1,078,122 |
Forfeited/expired | -8,700 |
Options exercised | -14,967 |
Ending Outstanding | 1,054,455 |
Vested and exercisable | 96.00% |
Wtd-avg contractual remaining term (in years) | '5 years 4 months 24 days |
Intrinsic value at September 30, 2013 | $2,377 |
Wtd-Avg Exercise Price, Beginning Outstanding | $6.63 |
Wtd-Avg Exercise Price, Forfeited/expired | $5.52 |
Wtd-Avg Exercise Price, Options exercised | $3.59 |
Wtd-Avg Exercise Price, Ending Outstanding | $6.68 |
Exercise Price Per Warrant/Option $5.42 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $5.42 |
Beginning Outstanding | 691,882 |
Ending Outstanding | 691,882 |
Expiration date | 23-Dec-18 |
Vested and exercisable | 100.00% |
Wtd-avg contractual remaining term (in years) | '5 years 2 months 12 days |
Intrinsic value at September 30, 2013 | 1,737 |
Exercise Price Per Warrant/Option $17.10 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $17.10 |
Beginning Outstanding | 116,640 |
Forfeited/expired | -1,200 |
Ending Outstanding | 115,440 |
Expiration date | 13-Dec-17 |
Vested and exercisable | 100.00% |
Wtd-avg contractual remaining term (in years) | '4 years 2 months 12 days |
Exercise Price Per Warrant/Option $7.50 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $7.50 |
Beginning Outstanding | 120,190 |
Forfeited/expired | -1,200 |
Ending Outstanding | 118,990 |
Expiration date | 11-Dec-18 |
Vested and exercisable | 100.00% |
Wtd-avg contractual remaining term (in years) | '5 years 2 months 12 days |
Intrinsic value at September 30, 2013 | 51 |
Exercise Price Per Warrant/Option $4.02 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $4.02 |
Beginning Outstanding | 68,910 |
Forfeited/expired | -1,100 |
Options exercised | -9,600 |
Ending Outstanding | 58,210 |
Expiration date | 10-Dec-19 |
Vested and exercisable | 100.00% |
Wtd-avg contractual remaining term (in years) | '6 years 2 months 12 days |
Intrinsic value at September 30, 2013 | 228 |
Exercise Price Per Warrant/Option $3.00 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $3 |
Beginning Outstanding | 38,200 |
Forfeited/expired | -1,900 |
Options exercised | -3,200 |
Ending Outstanding | 33,100 |
Expiration date | 9-Dec-20 |
Vested and exercisable | 67.00% |
Wtd-avg contractual remaining term (in years) | '7 years 2 months 12 days |
Intrinsic value at September 30, 2013 | 163 |
Exercise Price Per Warrant/Option $2.55 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $2.55 |
Beginning Outstanding | 42,300 |
Forfeited/expired | -3,300 |
Options exercised | -2,167 |
Ending Outstanding | 36,833 |
Expiration date | 8-Dec-21 |
Vested and exercisable | 33.00% |
Wtd-avg contractual remaining term (in years) | '8 years 2 months 12 days |
Intrinsic value at September 30, 2013 | $198 |
Common_Stock_Warrant_Options_a4
Common Stock Warrant, Options and Restricted Common Stock - Summary of Selected Information Regarding Restricted Common Stock Awards made under Plan (Parenthetical) (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Vested and exercisable | 96.00% |
Calculated intrinsic value | $7.93 |
Exercise Price Per Warrant/Option $3.00 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $3 |
Vested and exercisable | 67.00% |
Exercise Price Per Warrant/Option $3.00 [Member] | Vest and Become Exercisable on December 9, 2013 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $3 |
Vested and exercisable | 100.00% |
Exercise Price Per Warrant/Option $2.55 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $2.55 |
Vested and exercisable | 33.00% |
Exercise Price Per Warrant/Option $2.55 [Member] | Vest and Become Exercisable on December 8, 2013 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $2.55 |
Vested and exercisable | 33.33% |
Exercise Price Per Warrant/Option $2.55 [Member] | Vest and Become Exercisable on December 8, 2014 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $2.55 |
Vested and exercisable | 33.33% |
Common_Stock_Warrant_Options_a5
Common Stock Warrant, Options and Restricted Common Stock - Summary of Outstanding Common Stock Warrant and Options (Detail) (USD $) | 9 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Grant date of award, Stock Grant | 24-Jan-13 | 19-Jan-12 |
Total restricted shares of stock awarded | 330,700 | 465,400 |
Estimated fair value per share awarded | $4.50 | $2.90 |
Total estimated fair value of award | $1,488 | $1,350 |
Awards scheduled to vest, Stock Grant | 330,700 | 465,400 |
January 2013 [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Awards scheduled to vest, Stock Grant | ' | 256,800 |
January 2014 [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Awards scheduled to vest, Stock Grant | 49,566 | 133,455 |
January 2015 [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Awards scheduled to vest, Stock Grant | 170,888 | 75,145 |
January 2016 [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Awards scheduled to vest, Stock Grant | 110,246 | ' |
Common_Stock_Warrant_Options_a6
Common Stock Warrant, Options and Restricted Common Stock - Summary of Outstanding Common Stock Warrant and Options (Parenthetical) (Detail) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Installment | Installment | |
Executives | Executives | |
Restricted Common Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares Awarded | 330,700 | ' |
Executive Officers [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Number of participants | 5 | 5 |
Number of installments | 2 | 2 |
Restricted stock awards vesting in second anniversary of the grant | 66.67% | 66.67% |
Restricted stock awards vesting in third anniversary of the grant | 33.33% | 33.33% |
Executive Officers [Member] | Restricted Common Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares Awarded | 182,000 | 175,000 |
Non-employee Directors [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Number of participants | 8 | 6 |
Restricted stock awards vesting in second anniversary of the grant | 33.33% | ' |
Restricted stock awards vesting in third anniversary of the grant | 33.33% | ' |
Restricted stock awards vesting in first anniversary of the grant | 33.33% | 100.00% |
Non-employee Directors [Member] | Restricted Common Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares Awarded | 80,000 | 240,000 |
Other Officers and Employees [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Number of installments | 3 | 3 |
Restricted stock awards vesting in second anniversary of the grant | 33.33% | 33.33% |
Restricted stock awards vesting in third anniversary of the grant | 33.33% | 33.33% |
Restricted stock awards vesting in first anniversary of the grant | 33.33% | 33.33% |
Other Officers and Employees [Member] | Restricted Common Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares Awarded | 68,700 | 50,400 |
Common_Stock_Warrant_Options_a7
Common Stock Warrant, Options and Restricted Common Stock - Summary of Activity in IBCs Restricted Class A Common Stock (Detail) (Restricted Common Stock [Member], USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Outstanding | 782,300 |
Shares vested and no longer restricted | -256,600 |
Shares granted | 330,700 |
Shares forfeited | -18,633 |
Ending Outstanding | 837,767 |
Price Per Share $2.35 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Price Per Share | 2.35 |
Beginning Outstanding | 317,500 |
Shares forfeited | -7,100 |
Ending Outstanding | 310,400 |
Price Per Share $2.90 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Price Per Share | 2.9 |
Beginning Outstanding | 464,800 |
Shares vested and no longer restricted | -256,600 |
Shares forfeited | -6,133 |
Ending Outstanding | 202,067 |
Price Per Share $4.50 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Price Per Share | 4.5 |
Shares granted | 330,700 |
Shares forfeited | -5,400 |
Ending Outstanding | 325,300 |
Common_Stock_Warrant_Options_a8
Common Stock Warrant, Options and Restricted Common Stock - Summary of Activity in IBCs Restricted Class A Common Stock (Parenthetical) (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Vested and exercisable | 96.00% |
Price Per Share $2.35 [Member] | Vest and Become Exercisable on December 9, 2013 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $2.35 |
Vested and exercisable | 100.00% |
Price Per Share $2.35 [Member] | Restricted Common Stock [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $2.35 |
Price Per Share $2.90 [Member] | Restricted Common Stock [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $2.90 |
Restricted common stock will vest on date 1 | 130,200 |
Restricted common stock will vest on date 2 | 71,867 |
Price Per Share $4.50 [Member] | Restricted Common Stock [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Exercise Price Per Warrant/Option | $4.50 |
Restricted common stock will vest on date 1 | 47,767 |
Restricted common stock will vest on date 2 | 169,100 |
Restricted common stock will vest on date 3 | 108,433 |
Deferred_Tax_Asset_Additional_
Deferred Tax Asset - Additional Information (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Operating Loss Carryforwards [Line Items] | ' | ' |
Total deferred tax asset | $21,774,000 | $29,234,000 |
NOL carryforwards expiration year | '2030 | ' |
Federal [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Unused net operating loss carryforward | 2,000,000 | ' |
State and Local [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Unused net operating loss carryforward | 34,000,000 | ' |
AMT Credit [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Unused net operating loss carryforward | $1,800,000 | ' |
Earning_Per_Common_Share_Summa
Earning Per Common Share - Summary of Basic and Diluted Earnings Per Common Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Basic Earnings Per Common Share: | ' | ' | ' | ' |
Net earnings available to common stockholders | $2,588,000 | $2,225,000 | $9,230,000 | $7,347,000 |
Weighted-Average number of common shares outstanding | 21,915,596 | 21,589,744 | 21,891,886 | 21,558,092 |
Basic earnings per common share | $0.12 | $0.10 | $0.42 | $0.34 |
Diluted Earnings Per Common Share: | ' | ' | ' | ' |
Net earnings available to common stockholders | $2,588,000 | $2,225,000 | $9,230,000 | $7,347,000 |
Weighted-Average number of common shares outstanding: | ' | ' | ' | ' |
Common shares outstanding | 21,915,596 | 21,589,744 | 21,891,886 | 21,558,092 |
Potential dilutive shares resulting from exercise of warrants /options | 135,866 | 978 | 81,064 | 276 |
Total average number of common shares outstanding used for dilution | 22,051,462 | 21,590,722 | 21,972,950 | 21,558,368 |
Diluted earnings per common share | $0.12 | $0.10 | $0.42 | $0.34 |
Earning_Per_Common_Share_Summa1
Earning Per Common Share - Summary of Basic and Diluted Earnings Per Common Share (Parenthetical) (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Outstanding options/warrants to purchase, shares | 234,430 | 1,041,122 | 234,430 | 1,041,122 |
OffBalance_Sheet_Financial_Ins2
Off-Balance Sheet Financial Instruments - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Off Balance Sheet Financial Instruments [Abstract] | ' | ' |
Standby letters of credit | $0 | $0 |
OffBalance_Sheet_Financial_Ins3
Off-Balance Sheet Financial Instruments - Summary of Contractual Amounts of Off-Balance Sheet Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Standby letters of credit | $31,349 | $20,008 |
Commitments to Extend Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Standby letters of credit | 30,672 | 19,154 |
Unused Lines of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Standby letters of credit | $677 | $854 |
Contingencies_Additional_Infor
Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |
In Millions, unless otherwise specified | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 |
SecurityLoan | |||
Loss Contingencies [Line Items] | ' | ' | ' |
Number of loans associated with recoveries of prior real estate expenses | ' | ' | 1 |
INB [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Net Proceeds of loans | $0.10 | $2.70 | ' |
Recovery of prior loan charge offs | ' | ' | 1.1 |
Recovery of prior real estate expenses | ' | ' | $1.60 |
Number of loans associated with recoveries of prior real estate expenses | ' | ' | 2 |
Regulatory_Matters_and_Regulat2
Regulatory Matters and Regulatory Capital - Summary of Regulatory Capital and Related Ratios (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 capital | $238,955 | $249,465 |
Tier 2 capital | 15,416 | 15,620 |
Total risk-based capital | 254,371 | 265,085 |
Net risk-weighted assets for regulatory purposes | 1,221,807 | 1,238,024 |
Average assets for regulatory purposes | 1,568,881 | 1,696,410 |
Total capital to risk-weighted assets | 20.82% | 21.41% |
Tier 1 capital to risk-weighted assets | 19.56% | 20.15% |
Tier 1 capital to average assets | 15.23% | 14.71% |
INB [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 capital | 234,166 | 244,081 |
Tier 2 capital | 15,377 | 15,566 |
Total risk-based capital | 249,543 | 259,647 |
Net risk-weighted assets for regulatory purposes | 1,218,718 | 1,232,670 |
Average assets for regulatory purposes | $1,563,834 | $1,690,329 |
Total capital to risk-weighted assets | 20.48% | 21.06% |
Tier 1 capital to risk-weighted assets | 19.21% | 19.80% |
Tier 1 capital to average assets | 14.97% | 14.44% |
Regulatory_Matters_and_Regulat3
Regulatory Matters and Regulatory Capital - Summary of Regulatory Capital and Related Ratios (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Banking And Thrift [Abstract] | ' | ' |
Outstanding qualifying trust preferred securities | $55 | $55 |
Regulatory_Matters_and_Regulat4
Regulatory Matters and Regulatory Capital - Capital Adequacy (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital to risk-weighted assets, Actual Capital, Amount | $254,371 | $265,085 |
Tier 1 capital to risk-weighted assets, Actual Capital, Amount | 238,955 | 249,465 |
Tier 1 capital to average assets, Actual Capital, Amount | 238,955 | 249,465 |
Total capital to risk-weighted assets, Actual Capital, Ratio | 20.82% | 21.41% |
Tier 1 capital to risk-weighted assets, Actual Capital, Ratio | 19.56% | 20.15% |
Tier 1 capital to average assets, Actual Capital, Ratio | 15.23% | 14.71% |
Total capital to risk-weighted assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Amount | 97,745 | 99,042 |
Tier 1 capital to risk-weighted assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Amount | 48,872 | 49,521 |
Tier 1 capital to average assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Amount | 62,755 | 67,856 |
Total capital to risk-weighted assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
Tier 1 capital to average assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
INB [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital to risk-weighted assets, Actual Capital, Amount | 249,543 | 259,647 |
Tier 1 capital to risk-weighted assets, Actual Capital, Amount | 234,166 | 244,081 |
Tier 1 capital to average assets, Actual Capital, Amount | 234,166 | 244,081 |
Total capital to risk-weighted assets, Actual Capital, Ratio | 20.48% | 21.06% |
Tier 1 capital to risk-weighted assets, Actual Capital, Ratio | 19.21% | 19.80% |
Tier 1 capital to average assets, Actual Capital, Ratio | 14.97% | 14.44% |
Total capital to risk-weighted assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Amount | 97,497 | 98,614 |
Tier 1 capital to risk-weighted assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Amount | 48,749 | 49,307 |
Tier 1 capital to average assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Amount | 62,553 | 67,613 |
Total capital to risk-weighted assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
Tier 1 capital to average assets, Capital Requirements, Minimum Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
Total capital to risk-weighted assets, Capital Requirements, Minimum To Be "Well Capitalized" Under Prompt Corrective Action Provisions, Amount | 121,872 | 123,267 |
Tier 1 capital to risk-weighted assets, Capital Requirements, Minimum To Be "Well Capitalized" Under Prompt Corrective Action Provisions, Amount | 73,123 | 73,960 |
Tier 1 capital to average assets, Capital Requirements, Minimum To Be "Well Capitalized" Under Prompt Corrective Action Provisions, Amount | 78,192 | 84,516 |
Total capital to risk-weighted assets, Capital Requirements, Minimum To Be "Well Capitalized" Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 capital to risk-weighted assets, Capital Requirements, Minimum To Be "Well Capitalized" Under Prompt Corrective Action Provisions, Ratio | 6.00% | 6.00% |
Tier 1 capital to average assets, Capital Requirements, Minimum To Be "Well Capitalized" Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Total capital to risk-weighted assets, Capital Requirements, Minimum Under Agreement With OCC, Amount | ' | 147,920 |
Tier 1 capital to risk-weighted assets, Capital Requirements, Minimum Under Agreement With OCC, Amount | ' | 123,267 |
Tier 1 capital to average assets, Capital Requirements, Minimum Under Agreement With OCC, Amount | ' | $152,130 |
Total capital to risk-weighted assets, Capital Requirements, Minimum Under Agreement With OCC, Ratio | ' | 12.00% |
Tier 1 capital to risk-weighted assets, Capital Requirements, Minimum Under Agreement With OCC, Ratio | ' | 10.00% |
Tier 1 capital to average assets, Capital Requirements, Minimum Under Agreement With OCC, Ratio | ' | 9.00% |
Regulatory_Matters_and_Regulat5
Regulatory Matters and Regulatory Capital - Capital Adequacy (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Banking And Thrift [Abstract] | ' | ' |
Outstanding qualifying trust preferred securities | $55 | $55 |
Tier 1 proforma capital ratio | 20.82% | ' |
Tier two proforma capital ratio | 15.06% | ' |
Consolidated proforma capital ratio | 11.73% | ' |
Regulatory_Matters_and_Regulat6
Regulatory Matters and Regulatory - Additional Information Regarding Capital Adequacy (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital to risk-weighted assets, Actual Capital, Amount | $254,371 | $265,085 |
Tier 1 capital to risk-weighted assets, Actual Capital, Amount | 238,955 | 249,465 |
Tier 1 capital to average assets, Actual | 238,955 | ' |
Total capital to risk-weighted assets, Required | 97,745 | 99,042 |
Tier 1 capital to risk-weighted assets, Required | 48,872 | 49,521 |
Tier 1 capital to average assets, Required | 62,755 | 67,856 |
Total capital to risk-weighted assets, Excess | 156,626 | ' |
Tier 1 capital to risk-weighted assets, Excess | 190,083 | ' |
Tier 1 capital to average assets, Excess | 176,200 | ' |
INB [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total capital to risk-weighted assets, Actual Capital, Amount | 249,543 | 259,647 |
Tier 1 capital to risk-weighted assets, Actual Capital, Amount | 234,166 | 244,081 |
Tier 1 capital to average assets, Actual | 234,166 | ' |
Total capital to risk-weighted assets, Required | 121,872 | 123,267 |
Tier 1 capital to risk-weighted assets, Required | 73,123 | 73,960 |
Tier 1 capital to average assets, Required | 78,192 | 84,516 |
Total capital to risk-weighted assets, Required | 97,497 | 98,614 |
Tier 1 capital to risk-weighted assets, Required | 48,749 | 49,307 |
Tier 1 capital to average assets, Required | 62,553 | 67,613 |
Total capital to risk-weighted assets, Excess | 127,671 | ' |
Tier 1 capital to risk-weighted assets, Excess | 161,043 | ' |
Tier 1 capital to average assets, Excess | $155,974 | ' |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available for sale, net | $1,016 | $1,000 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available for sale, net | 1,000 | 1,000 |
Liabilities that were recorded at fair value | $0 | $0 |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets Measured at Fair Value on a Nonrecurring Basis (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Accumulated Losses on Outstanding Balance | $18,712 | ' | $18,712 | ' | $23,164 |
Total Losses (Gains) | 413 | 601 | 935 | 2,256 | ' |
Impaired Securities [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Accumulated Losses on Outstanding Balance | 5,197 | ' | 5,197 | ' | 4,233 |
Total Losses (Gains) | 273 | ' | 964 | 157 | ' |
Foreclosure Real Estate [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Accumulated Losses on Outstanding Balance | 2,123 | ' | 2,123 | ' | 5,339 |
Total Losses (Gains) | 149 | 1,025 | 135 | 2,933 | ' |
Impaired Loans [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Accumulated Losses on Outstanding Balance | 11,392 | ' | 11,392 | ' | 13,592 |
Total Losses (Gains) | -9 | -424 | -164 | -834 | ' |
Impaired Loans [Member] | Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Accumulated Losses on Outstanding Balance | 10,294 | ' | 10,294 | ' | 9,979 |
Total Losses (Gains) | ' | -254 | 823 | -241 | ' |
Impaired Loans [Member] | Multi Family [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Accumulated Losses on Outstanding Balance | 598 | ' | 598 | ' | 3,092 |
Total Losses (Gains) | -7 | -170 | -964 | -100 | ' |
Impaired Loans [Member] | Land [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Accumulated Losses on Outstanding Balance | 500 | ' | 500 | ' | 521 |
Total Losses (Gains) | -2 | ' | -23 | -493 | ' |
Level 3 [Member] | Impaired Securities [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Outstanding Carrying Value | 2,604 | ' | 2,604 | ' | 3,721 |
Level 3 [Member] | Foreclosure Real Estate [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Outstanding Carrying Value | 12,019 | ' | 12,019 | ' | 15,923 |
Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Outstanding Carrying Value | 50,898 | ' | 50,898 | ' | 65,973 |
Level 3 [Member] | Impaired Loans [Member] | Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Outstanding Carrying Value | 45,956 | ' | 45,956 | ' | 50,795 |
Level 3 [Member] | Impaired Loans [Member] | Multi Family [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Outstanding Carrying Value | 3,140 | ' | 3,140 | ' | 12,577 |
Level 3 [Member] | Impaired Loans [Member] | Land [Member] | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Outstanding Carrying Value | $1,802 | ' | $1,802 | ' | $2,601 |
Fair_Value_Measurements_Change
Fair Value Measurements - Change in Assets Measured at Fair Value on a Nonrecurring Basis (Detail) (Assets Measured at Fair Value on a Nonrecurring Basis [Member], USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Impaired Securities [Member] | Impaired Securities [Member] | Impaired Securities [Member] | Impaired Securities [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Impaired Loans [Member] | Foreclosure Real Estate [Member] | Foreclosure Real Estate [Member] | Foreclosure Real Estate [Member] | Foreclosure Real Estate [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | $2,923 | $3,721 | $4,378 | $4,221 | $50,533 | $65,240 | $65,973 | $66,269 | $14,869 | $26,370 | $15,923 | $28,278 |
Net new impaired loans | ' | ' | ' | ' | 514 | 872 | 8,761 | 8,254 | ' | ' | ' | ' |
Impaired loans transferred to foreclosed real estate | ' | ' | ' | ' | ' | -1,457 | -3,040 | -1,457 | ' | 1,457 | 3,040 | 1,457 |
Other than temporary impairment write downs | -273 | -964 | -157 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal repayments/sales | -46 | -153 | ' | ' | -149 | -1,983 | -18,858 | -8,466 | -2,701 | -4,944 | -6,809 | -4,944 |
Chargeoffs of impaired loans | ' | ' | ' | ' | ' | -548 | -1,938 | -2,476 | ' | ' | ' | ' |
Writedowns of carrying value subsequent to foreclosure | ' | ' | ' | ' | ' | ' | ' | ' | -250 | -1,025 | -1,029 | -2,933 |
Recoveries of prior writedowns | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 74 | ' |
Gains from sales | ' | ' | ' | ' | ' | ' | ' | ' | 101 | ' | 820 | ' |
Ending balance | $2,604 | $2,604 | $4,221 | $4,221 | $50,898 | $62,124 | $50,898 | $62,124 | $12,019 | $21,858 | $12,019 | $21,858 |
Fair_Value_Measurements_Carryi
Fair Value Measurements - Carrying and Estimated Fair Values of Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial Assets: | ' | ' |
Securities available for sale, net | $1,016 | $1,000 |
Securities held to maturity, net | 410,304 | 442,166 |
Estimated Fair Value [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and cash equivalents | 30,253 | 60,395 |
Time deposits with banks | 5,370 | 5,170 |
Securities available for sale, net | 1,016 | 1,000 |
Securities held to maturity, net | 410,304 | 442,166 |
FRB and FHLB stock | 8,237 | 8,151 |
Loans receivable, net | 1,072,203 | 1,102,333 |
Loan fees receivable | 1,973 | 2,547 |
Accrued interest receivable | 4,735 | 5,191 |
Total Financial Assets | 1,534,091 | 1,626,953 |
Financial Liabilities: | ' | ' |
Deposits | 1,312,522 | 1,389,629 |
Accrued interest payable on deposits | 1,398 | 2,379 |
Borrowed funds plus accrued interest payable | 56,924 | 62,448 |
Commitments to lend | 536 | 386 |
Total Financial Liabilities | 1,371,380 | 1,454,842 |
Net Financial Assets | 162,711 | 172,111 |
Carrying Value [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and cash equivalents | 30,253 | 60,395 |
Time deposits with banks | 5,370 | 5,170 |
Securities available for sale, net | 1,016 | 1,000 |
Securities held to maturity, net | 416,321 | 443,777 |
FRB and FHLB stock | 8,237 | 8,151 |
Loans receivable, net | 1,073,500 | 1,079,363 |
Loan fees receivable | 2,511 | 3,108 |
Accrued interest receivable | 4,735 | 5,191 |
Total Financial Assets | 1,541,943 | 1,606,155 |
Financial Liabilities: | ' | ' |
Deposits | 1,298,403 | 1,362,619 |
Accrued interest payable on deposits | 1,398 | 2,379 |
Borrowed funds plus accrued interest payable | 57,165 | 62,930 |
Commitments to lend | 536 | 386 |
Total Financial Liabilities | 1,357,502 | 1,428,314 |
Net Financial Assets | $184,441 | $177,841 |