Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 21, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'LSB FINANCIAL CORP | ' | ' |
Entity Central Index Key | '0000930405 | ' | ' |
Trading Symbol | 'lsbi | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Well-Known Seasoned Issuer | 'No | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 1,556,104 | ' |
Entity Public Float | ' | ' | $29,257,293 |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $21,961 | $25,643 |
Short-term investments | 2,237 | 5,778 |
Cash and cash equivalents | 24,198 | 31,421 |
Interest bearing time deposits | 1,743 | 1,740 |
Available-for-sale securities | 62,705 | 28,004 |
Loans held for sale | 657 | 1,363 |
Loans, net of allowance for loan losses of $6,348 and $5,900 at December 31, 2013 and 2012, respectively | 254,703 | 280,257 |
Premises and equipment, net | 7,933 | 7,069 |
Federal Home Loan Bank stock | 3,185 | 3,185 |
Bank-owned life insurance | 6,745 | 6,595 |
Interest receivable and other assets | 5,712 | 4,976 |
Total assets | 367,581 | 364,610 |
Liabilities | ' | ' |
Deposits | 314,620 | 308,637 |
Federal Home Loan Bank advances | 10,000 | 15,000 |
Interest payable and other liabilities | 2,234 | 2,018 |
Total liabilities | 326,854 | 325,655 |
Commitments and Contingencies | ' | ' |
Stockholders' Equity | ' | ' |
Common stock, $.01 par value; authorized 7,000,000 shares; issued and outstanding 2013 - 1,564,838 shares, 2012 - 1,555,972 shares | 15 | 15 |
Additional paid-in capital | 11,348 | 11,121 |
Retained earnings | 29,658 | 27,495 |
Accumulated other comprehensive income (loss) | -294 | 324 |
Total stockholders' equity | 40,727 | 38,955 |
Total liabilities and stockholders' equity | $367,581 | $364,610 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Allowance for loan losses (in dollars) | $6,348 | $5,900 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 7,000,000 | 7,000,000 |
Common stock, shares issued | 1,564,838 | 1,555,972 |
Common stock, shares outstanding | 1,564,838 | 1,555,972 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income and Comprehensive Income (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Interest and Dividend Income | ' | ' |
Loans | $12,914 | $15,162 |
Securities | ' | ' |
Taxable | 600 | 352 |
Tax-exempt | 210 | 162 |
Other | 47 | 44 |
Total interest and dividend income | 13,771 | 15,720 |
Interest Expense | ' | ' |
Deposits | 2,105 | 2,839 |
Borrowings | 258 | 386 |
Total interest expense | 2,363 | 3,225 |
Net Interest Income | 11,408 | 12,495 |
Provision for Loan Losses | 650 | 2,100 |
Net Interest Income After Provision for Loan Losses | 10,758 | 10,395 |
Non-interest Income | ' | ' |
Deposit account service charges and fees | 1,204 | 1,338 |
Net gains on loan sales | 1,337 | 2,489 |
Net loss on other real estate owned | -53 | -97 |
Debit card fees | 598 | 558 |
Brokerage fees | 267 | 119 |
Other | 538 | 359 |
Total non-interest income | 3,891 | 4,766 |
Non-interest Expense | ' | ' |
Salaries and employee benefits | 5,833 | 6,205 |
Net occupancy and equipment expense | 1,326 | 1,208 |
Computer service | 606 | 618 |
Advertising | 437 | 377 |
FDIC Insurance | 476 | 481 |
ATM | 289 | 265 |
Professional fees | 500 | 500 |
Other | 1,188 | 1,316 |
Total non-interest expense | 10,655 | 10,970 |
Income Before Income Tax | 3,994 | 4,191 |
Provision for Income Taxes | 1,456 | 1,532 |
Net Income | 2,538 | 2,659 |
Unrealized appreciation (depreciation) on available-for-sale securities, net of taxes of $(412) and $58 at December 31, 2013 and 2012, respectively | -618 | 88 |
Total comprehensive income | $1,920 | $2,747 |
Basic Earnings Per Share (in dollars per share) | $1.63 | $1.71 |
Diluted Earnings Per Share (in dollars per share) | $1.62 | $1.70 |
Consolidated_Statements_of_Inc1
Consolidated Statements of Income and Comprehensive Income (Parentheticals) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement [Abstract] | ' | ' |
Tax effect of unrealized appreciation (depreciation) on available-for-sale securities | ($412) | $58 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total |
In Thousands, unless otherwise specified | |||||
Balance at Dec. 31, 2011 | $15 | $11,010 | $24,913 | $236 | $36,174 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net income | ' | ' | 2,659 | ' | 2,659 |
Other comprehensive income (loss) | ' | ' | ' | 88 | 88 |
Stock options exercised (8,866 shares and 750 shares for the year ended December 31, 2013 and December 31, 2012, respectively) | ' | 7 | ' | ' | 7 |
Tax benefit related to stock options exercised | ' | 2 | ' | ' | 2 |
Dividends on common stock ($0.24 per share and $0.05 per share for the year ended December 31, 2013 and December 31, 2012, respectively) | ' | ' | -77 | ' | -77 |
Share-based compensation expense | ' | 102 | ' | ' | 102 |
Balance at Dec. 31, 2012 | 15 | 11,121 | 27,495 | 324 | 38,955 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net income | ' | ' | 2,538 | ' | 2,538 |
Other comprehensive income (loss) | ' | ' | ' | -618 | -618 |
Stock options exercised (8,866 shares and 750 shares for the year ended December 31, 2013 and December 31, 2012, respectively) | ' | 185 | ' | ' | 185 |
Tax benefit related to stock options exercised | ' | 3 | ' | ' | 3 |
Dividends on common stock ($0.24 per share and $0.05 per share for the year ended December 31, 2013 and December 31, 2012, respectively) | ' | ' | -375 | ' | -375 |
Share-based compensation expense | ' | 39 | ' | ' | 39 |
Balance at Dec. 31, 2013 | $15 | $11,348 | $29,658 | ($294) | $40,727 |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Parentheticals) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Statement Of Stockholders Equity [Abstract] | ' | ' |
Stock options exercised (in shares) | 8,866 | 750 |
Dividends on common stock, per share (in dollars per share) | $0.24 | $0.05 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Activities | ' | ' |
Net income | $2,538 | $2,659 |
Items not requiring (providing) cash | ' | ' |
Depreciation | 437 | 453 |
Provision for loan losses | 650 | 2,100 |
Amortization of premiums and discounts on securities | 233 | 155 |
Deferred income taxes | -227 | -242 |
Loss on other real estate owned | 53 | 97 |
Gain on sale of loans | -1,337 | -2,489 |
Loans originated for sale | -43,506 | -80,317 |
Proceeds on loans sold | 45,272 | 84,144 |
Share-based compensation expense | 39 | 102 |
Changes in | ' | ' |
Interest receivable and other assets | -208 | 1,377 |
Interest payable and other liabilities | 216 | 335 |
Net cash provided by operating activities | 4,160 | 8,374 |
Investing Activities | ' | ' |
Net change in interest-bearing deposits | -3 | -1,740 |
Purchases of available-for-sale securities | -37,881 | -19,454 |
Proceeds from maturities of available-for-sale securities | 1,917 | 5,282 |
Net change in loans | 24,742 | 18,797 |
Proceeds from sale of other real estate owned | 347 | 2,694 |
Purchase of premises and equipment | -1,301 | -1,376 |
Net cash provided by (used in) investing activities | -12,179 | 4,203 |
Financing Activities | ' | ' |
Net change in demand deposits, money market, NOW and savings accounts | 17,402 | 12,425 |
Net change in certificates of deposit | -11,419 | -12,221 |
Repayment of Federal Home Loan Bank advances | -5,000 | -3,000 |
Proceeds from stock options exercised | 184 | 7 |
Tax benefits related to stock options purchased | 3 | 2 |
Dividends paid | -374 | -77 |
Net cash provided by (used in) financing activities | 796 | -2,864 |
Increase (Decrease) in Cash and Cash Equivalents | -7,223 | 9,713 |
Cash and Cash Equivalents, Beginning of Year | 31,421 | 21,708 |
Cash and Cash Equivalents, End of Year | 24,198 | 31,421 |
Supplemental Cash Flows Information | ' | ' |
Interest paid | 2,369 | 3,235 |
Income taxes paid | 2,110 | 675 |
Supplemental Non-Cash Disclosures | ' | ' |
Capitalization of mortgage servicing rights | 277 | 419 |
Loans transferred to other real estate owned | $162 | $1,424 |
Nature_of_Operations_and_Summa
Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Business Description and Accounting Policies [Abstract] | ' |
Nature of Operations and Summary of Significant Accounting Policies | ' |
Note 1: Nature of Operations and Summary of Significant Accounting Policies | |
Nature of Operations | |
LSB Financial Corp. (“Company”) is a thrift holding company whose principal activity is the ownership and management of its wholly owned subsidiary, Lafayette Savings Bank (“Bank”). The Bank is primarily engaged in providing a full range of banking and financial services to individual and corporate customers in Tippecanoe and surrounding counties in Indiana. The Bank is subject to competition from other financial institutions. The Bank is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. | |
Principles of Consolidation | |
The consolidated financial statements include the accounts of the Company, the Bank, and the Bank’s subsidiary, L.S.B. Service Corporation (“LSBSC”). All significant intercompany accounts and transactions have been eliminated in consolidation. | |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses and fair value of servicing rights and financial instruments. In connection with the determination of the allowance for loan losses, management obtains independent appraisals for significant properties. A substantial portion of the loan portfolio is secured by single and multi-family residential mortgages. | |
Cash Equivalents | |
The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. | |
Securities | |
Available-for-sale securities, which include any security for which the Company has no immediate plan to sell but which may be sold in the future, are carried at fair value. Unrealized gains and losses are recorded, net of related income tax effects, in other comprehensive income. | |
Amortization of premiums and accretion of discounts are recorded as interest income from securities. Realized gains and losses are recorded as net security gains (losses). Gains and losses on sales of securities are determined on the specific-identification method. | |
Loans Held for Sale | |
Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to non-interest income. Gains and losses on loan sales are recorded in non-interest income, and direct loan origination costs and fees are deferred at origination of the loan and are recognized in non-interest income upon sale of the loan. | |
Loans | |
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoffs are reported at their outstanding principal balances adjusted for any charge-offs, the allowance for loan losses, any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term. | |
For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized as a level yield adjustment over the respective term of the loan. | |
The accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Past due status is based on contractual terms of the loan. In all cases, loans are placed on non-accrual or charged off at an earlier date if collection of principal or interest is considered doubtful. | |
All interest accrued but not collected for loans that are placed on non-accrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | |
Allowance for Loan Losses | |
The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. | |
The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. | |
The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonclassified loans and is based on historical charge-off experience and expected loss given default derived from the Company’s internal risk rating process. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data. | |
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. | |
Large groups of smaller balance homogenous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and residential loans for impairment measurements. | |
Premises and Equipment | |
Depreciable assets are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line and accelerated methods over the estimated useful lives of the assets ranging from 3 to 39 years. | |
Federal Home Loan Bank Stock | |
Federal Home Loan Bank stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in the common stock is based on a predetermined formula, carried at cost and evaluated for impairment. | |
Foreclosed Assets Held for Sale | |
Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in net income or expense from foreclosed assets. | |
Servicing Rights | |
Servicing rights on originated loans that have been sold are initially recorded at fair value. Capitalized servicing rights are amortized in proportion to and over the period of estimated servicing revenues. Impairment of mortgage servicing rights is assessed based on the fair value of those rights. Fair values are estimated using discounted cash flows based on a current market interest rate. For purposes of measuring impairment, the rights are stratified based on the predominant risk characteristics of the underlying loans. The predominant characteristic currently used for stratification is type of loan. The amount of impairment recognized is the amount by which the capitalized mortgage servicing rights for a stratum exceed their fair value and is recorded through a valuation allowance. | |
Stock Options | |
The Company has a stock-based employee compensation plan, which is described more fully in Note 13. | |
Income Taxes | |
The Company accounts for income taxes in accordance with income tax accounting guidance (ASC 740, Income Taxes). The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. | |
Uncertain tax positions are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50%; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. With a few exceptions, the Company is no longer subject to U.S. federal, state, and local or non-U.S. income tax examinations by authorities for years before 2010. | |
Earnings Per Share | |
Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during each period. Diluted earnings per share reflects additional potential common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method. | |
Operating Segments | |
While the chief decision-makers monitor the revenue streams of the various products and services, the identifiable segments are not material and operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. |
Restriction_on_Cash_and_Due_Fr
Restriction on Cash and Due From Banks | 12 Months Ended |
Dec. 31, 2013 | |
Cash and Cash Equivalents [Abstract] | ' |
Restriction on Cash and Due From Banks | ' |
Note 2: Restriction on Cash and Due From Banks | |
The Bank is required to maintain reserve funds in cash and/or on deposit with the Federal Reserve Bank. The reserve required at December 31, 2013 was $2.0 million. | |
At December 31, 2013, the Company’s interest-bearing cash accounts do not exceed federally insured limits. Additionally, approximately $17.9 million and $1.8 million of cash is held by the Federal Reserve Bank of Chicago and the FHLB of Indianapolis, respectively, which is not federally insured. |
Securities
Securities | 12 Months Ended | ||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||
Note 3: Securities | |||||||||||||||||||||||
The amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities are as follows: | |||||||||||||||||||||||
Amortized | Gross | Gross | Approximate | ||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | ||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||
Available-for-sale Securities: | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||
U.S. Government sponsored agencies | $ | 28,982 | $ | 39 | $ | (417 | ) | $ | 28,604 | ||||||||||||||
Mortgage-backed securities-Government sponsored entities | 16,704 | 122 | (227 | ) | 16,599 | ||||||||||||||||||
Corporate bonds | 1,050 | 13 | --- | 1,063 | |||||||||||||||||||
State and political subdivisions | 16,465 | 172 | (198 | ) | 16,439 | ||||||||||||||||||
$ | 63,201 | $ | 346 | $ | (842 | ) | $ | 62,705 | |||||||||||||||
Available-for-sale Securities: | |||||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||
U.S. Government sponsored agencies | $ | 10,639 | $ | 83 | $ | (13 | ) | $ | 10,709 | ||||||||||||||
Mortgage-backed securities-Government sponsored entities | 6,989 | 209 | --- | 7,198 | |||||||||||||||||||
State and political subdivisions | 9,840 | 271 | (14 | ) | 10,097 | ||||||||||||||||||
$ | 27,468 | $ | 563 | $ | (27 | ) | $ | 28,004 | |||||||||||||||
The amortized cost and fair value of available-for-sale securities at December 31, 2013, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||
Amortized | Fair | ||||||||||||||||||||||
Cost | Value | ||||||||||||||||||||||
Within one year | $ | 2,145 | $ | 2,148 | |||||||||||||||||||
One to five years | 35,808 | 35,615 | |||||||||||||||||||||
Five to ten years | 8,544 | 8,343 | |||||||||||||||||||||
After ten years | --- | --- | |||||||||||||||||||||
46,497 | 46,106 | ||||||||||||||||||||||
Mortgage-backed securities | 16,704 | 16,599 | |||||||||||||||||||||
Totals | $ | 63,201 | $ | 62,705 | |||||||||||||||||||
The carrying value of securities pledged as collateral was $1.8 million at December 31, 2013, and $2.0 million at December 31, 2012. Certain investments in debt securities are reported in the financial statements at an amount less than their historical cost. Total fair value of these investments at December 31, 2013 and 2012 was $40.8 million and $5.6 million, which is approximately 65% and 20%, respectively, of the Company’s available-for-sale investment portfolio. | |||||||||||||||||||||||
Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information and information obtained from regulatory filings, management believes the declines in fair value for these securities are temporary. | |||||||||||||||||||||||
Should the impairment of any of these securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified. | |||||||||||||||||||||||
The following tables show our investments’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position at December 31, 2013 and 2012. | |||||||||||||||||||||||
2013 | |||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||
U.S. Government sponsored agencies | $ | 21,587 | $ | 417 | $ | --- | $ | --- | $ | 21,587 | $ | 417 | |||||||||||
Mortgage-backed securities-Government sponsored entities | 9,781 | 226 | 7 | 1 | 9,788 | 227 | |||||||||||||||||
State and political subdivisions | 9,401 | 198 | --- | --- | 9,401 | 198 | |||||||||||||||||
Total temporarily impaired securities | $ | 40,769 | $ | 841 | $ | 7 | $ | 1 | $ | 40,776 | $ | 842 | |||||||||||
2012 | |||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||
U.S. Government sponsored agencies | $ | 3,076 | $ | 13 | $ | --- | $ | --- | $ | 3,076 | $ | 13 | |||||||||||
State and political subdivisions | 2,541 | 14 | --- | --- | 2,541 | 14 | |||||||||||||||||
Total temporarily impaired securities | $ | 5,617 | $ | 27 | $ | --- | $ | --- | $ | 5,617 | $ | 27 | |||||||||||
U.S. Government Agencies | |||||||||||||||||||||||
The unrealized losses on the Company’s investments in direct obligations of U.S. government agencies were caused by interest rate increases. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Company does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at December 31, 2013. | |||||||||||||||||||||||
Residential Mortgage-backed Securities | |||||||||||||||||||||||
The unrealized losses on the Company’s investment in residential mortgage-backed securities were caused by interest rate increases. The Company expects to recover the amortized cost bases over the term of the securities. Because the decline in market value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at December 31, 2013. | |||||||||||||||||||||||
State and Political Subdivisions | |||||||||||||||||||||||
The unrealized losses on the Company’s investments in securities of state and political subdivisions were caused by interest rate increases. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Company does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at December 31, 2013. |
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||||||||||
Note 4: Loans and Allowance for Loan Losses | |||||||||||||||||||||||||||||||||||||
The allowance for loan losses represents management’s estimate of probable losses inherent in Lafayette Savings’ loan portfolios. In determining the appropriate amount of the allowance for loan losses, management makes numerous assumptions, estimates and assessments. | |||||||||||||||||||||||||||||||||||||
The strategy also emphasizes diversification on an industry and customer level, regular credit quality reviews and quarterly management reviews of large credit exposures and loans experiencing deterioration of credit quality. | |||||||||||||||||||||||||||||||||||||
Lafayette Savings’ allowance consists of three components: probable losses estimated from individual reviews of specific loans, probable losses estimated from historical loss rates, and probable losses resulting from economic or other deterioration above and beyond what is reflected in the first two components of the allowance. | |||||||||||||||||||||||||||||||||||||
All loans that are rated substandard and impaired, or are troubled debt restructures, are subject to individual review. Where appropriate, reserves are allocated to individual loans based on management’s estimate of the borrower’s ability to repay the loan given the availability of collateral, other sources of cash flow and legal options available to the Bank. Included in the review of individual loans are those that are impaired as provided in Financial Accounting Standards Board (“FASB”) ASC 310-10. Any allowances for impaired loans are determined by the fair value of the underlying collateral based on the discounted appraised value. Allowances for loans that are not collateral dependent are determined by the present value of expected future cash flows discounted at the loan’s effective interest rate. Historical loss rates are applied to all loans not included in the ASC 310-10 calculation. | |||||||||||||||||||||||||||||||||||||
Historical loss rates for commercial and consumer loans may be adjusted for significant qualitative factors that, in management’s judgment, reflect the impact of any current conditions on loss recognition. Factors which management considers in the analysis include the effects of the national and local economies, trends in the nature and volume of loans (delinquencies, charge-offs and non-accrual loans), changes in mix, asset quality trends, risk management and loan administration, changes in the internal lending policies and credit standards, collection practices, examination results from bank regulatory agencies and Lafayette Savings’ internal loan review. | |||||||||||||||||||||||||||||||||||||
Allowances on individual loans and historical loss rates are reviewed quarterly and adjusted as necessary based on changing borrower and/or collateral conditions and actual collection and charge-off experience. | |||||||||||||||||||||||||||||||||||||
Lafayette Savings’ primary market area for lending is Tippecanoe County, Indiana and to a lesser extent the eight surrounding counties. When evaluating the adequacy of the allowance, consideration is given to this regional geographic concentration and the closely associated effect of changing economic conditions on Lafayette Savings’ customers. | |||||||||||||||||||||||||||||||||||||
Categories of loans at December 31 include: | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||||||
One-to-four family residential | $ | 98,061 | $ | 99,216 | |||||||||||||||||||||||||||||||||
Multi-family residential | 49,866 | 62,823 | |||||||||||||||||||||||||||||||||||
Commercial real estate | 72,030 | 82,430 | |||||||||||||||||||||||||||||||||||
Construction and land development | 15,318 | 14,113 | |||||||||||||||||||||||||||||||||||
Commercial | 11,461 | 13,290 | |||||||||||||||||||||||||||||||||||
Consumer and other | 1,160 | 1,131 | |||||||||||||||||||||||||||||||||||
Home equity lines of credit | 16,050 | 16,421 | |||||||||||||||||||||||||||||||||||
Total loans | 263,946 | 289,424 | |||||||||||||||||||||||||||||||||||
Less | |||||||||||||||||||||||||||||||||||||
Net deferred loan fees, premiums and discounts | (408 | ) | (469 | ) | |||||||||||||||||||||||||||||||||
Undisbursed portion of loans | (2,487 | ) | (2,798 | ) | |||||||||||||||||||||||||||||||||
Allowance for loan losses | (6,348 | ) | (5,900 | ) | |||||||||||||||||||||||||||||||||
Net loans | $ | 254,703 | $ | 280,257 | |||||||||||||||||||||||||||||||||
The risk characteristics of each loan portfolio segment are as follows: | |||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||
Commercial loans are primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. | |||||||||||||||||||||||||||||||||||||
Commercial Real Estate | |||||||||||||||||||||||||||||||||||||
These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s commercial real estate portfolio are diverse in terms of type and geographic location. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. As a general rule, the Company avoids financing single purpose projects unless other underwriting factors are present to help mitigate risk. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner-occupied loans. | |||||||||||||||||||||||||||||||||||||
Construction | |||||||||||||||||||||||||||||||||||||
Construction loans are underwritten utilizing feasibility studies, independent appraisal reviews, sensitivity analysis of absorption and lease rates and financial analysis of the developers and property owners. Construction loans are generally based on estimates of costs and value associated with the complete project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing. | |||||||||||||||||||||||||||||||||||||
Residential, Home Equity and Consumer | |||||||||||||||||||||||||||||||||||||
With respect to residential loans that are secured by one- to four-family residences that are usually owner occupied, the Company generally establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. Home equity loans are typically secured by a subordinate interest in one- to four-family residences, and consumer loans are secured by consumer assets such as automobiles or recreational vehicles. Some consumer loans are unsecured such as small installment loans and certain lines of credit. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Repayment can also be impacted by changes in property values on residential properties. Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers. | |||||||||||||||||||||||||||||||||||||
Additional information on the allocation of loan loss reserves by loan category, which does not include loans held for sale, for the years ended December 31, 2013 and December 31, 2012 is provided below. | |||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans for the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||
2013 | Commercial | Owner | Non-owner | Multi- | Commercial | Construction | Land | Consumer | Total | ||||||||||||||||||||||||||||
Occupied | Occupied | family | Real Estate | and | |||||||||||||||||||||||||||||||||
4-Jan | 4-Jan | Home | |||||||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||||||
Allowance for losses | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 633 | $ | 589 | $ | 1,022 | $ | 1,055 | $ | 2,177 | $ | 62 | $ | 154 | $ | 208 | $ | 5,900 | |||||||||||||||||||
Provision charged to expense | (77 | ) | 236 | 225 | (33 | ) | 278 | (24 | ) | (40 | ) | 85 | 650 | ||||||||||||||||||||||||
Losses charged off | 32 | 73 | 327 | --- | 40 | --- | 10 | 35 | 517 | ||||||||||||||||||||||||||||
Recoveries | 125 | 1 | 125 | 1 | 21 | --- | 42 | --- | 315 | ||||||||||||||||||||||||||||
Ending balance | $ | 649 | $ | 753 | $ | 1,045 | $ | 1,023 | $ | 2,436 | $ | 38 | $ | 146 | $ | 258 | $ | 6,348 | |||||||||||||||||||
ALL individually evaluated | $ | 5 | $ | 13 | $ | 30 | $ | --- | $ | 749 | $ | --- | $ | 1 | $ | --- | $ | 798 | |||||||||||||||||||
ALL collectively evaluated | 644 | 740 | 1,015 | 1,023 | 1,687 | 38 | 145 | 258 | 5,550 | ||||||||||||||||||||||||||||
Total ALL | $ | 649 | $ | 753 | $ | 1,045 | $ | 1,023 | $ | 2,436 | $ | 38 | $ | 146 | 258 | $ | 6,348 | ||||||||||||||||||||
Loans individually evaluated | $ | 1,250 | $ | 921 | $ | 2,820 | $ | 522 | $ | 6,703 | $ | --- | $ | 779 | $ | 90 | $ | 13,085 | |||||||||||||||||||
Loans collectively evaluated | 10,211 | 51,098 | 43,222 | 49,344 | 65,327 | 5,446 | 9,093 | $ | 17,120 | 250,861 | |||||||||||||||||||||||||||
Total loans evaluated | $ | 11,461 | $ | 52,019 | $ | 46,042 | $ | 49,866 | $ | 72,030 | $ | 5,446 | $ | 9,872 | $ | 17,210 | $ | 263,946 | |||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans for the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||
2012 | Commercial | Owner | Non-owner | Multi- | Commercial | Construction | Land | Consumer | Total | ||||||||||||||||||||||||||||
Occupied | Occupied | family | Real Estate | and | |||||||||||||||||||||||||||||||||
4-Jan | 4-Jan | Home | |||||||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||||||
Allowance for losses | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 667 | $ | 436 | $ | 1,330 | $ | 646 | $ | 1,788 | $ | 64 | $ | 264 | $ | 136 | $ | 5,331 | |||||||||||||||||||
Provision charged to expense | 421 | 213 | (246 | ) | 667 | 1,156 | (2 | ) | (190 | ) | 81 | 2,100 | |||||||||||||||||||||||||
Losses charged off | 485 | 61 | 83 | 259 | 795 | --- | 16 | 11 | 1,710 | ||||||||||||||||||||||||||||
Recoveries | 30 | 1 | 21 | 1 | 28 | --- | 96 | 2 | 179 | ||||||||||||||||||||||||||||
Ending balance | $ | 633 | $ | 589 | $ | 1,022 | $ | 1,055 | $ | 2,177 | $ | 62 | $ | 154 | $ | 208 | $ | 5,900 | |||||||||||||||||||
ALL individually evaluated | $ | --- | $ | 14 | 27 | $ | 24 | $ | 253 | $ | --- | $ | --- | $ | --- | $ | 318 | ||||||||||||||||||||
ALL collectively evaluated | 633 | 575 | 995 | 1,031 | 1,924 | 62 | 154 | 208 | 5,582 | ||||||||||||||||||||||||||||
Total ALL | $ | 633 | $ | 589 | $ | 1,022 | $ | 1,055 | $ | 2,177 | $ | 62 | $ | 154 | $ | 208 | $ | 5,900 | |||||||||||||||||||
Loans individually evaluated | $ | 49 | $ | 1,653 | $ | 5,917 | $ | 2,891 | $ | 6,233 | $ | --- | $ | 1,379 | $ | 92 | $ | 18,214 | |||||||||||||||||||
Loans collectively evaluated | 13,241 | 46,892 | 44,754 | 59,932 | 76,197 | 8,928 | 3,806 | 17,460 | 271,210 | ||||||||||||||||||||||||||||
Total loans evaluated | $ | 13,290 | $ | 48,545 | $ | 50,671 | $ | 62,823 | $ | 82,430 | $ | 8,928 | $ | 5,185 | $ | 17,552 | $ | 289,424 | |||||||||||||||||||
Management’s general practice is to charge down collateral dependent loans individually evaluated for impairment to the fair value of the underlying collateral. | |||||||||||||||||||||||||||||||||||||
Consistent with regulatory guidance, charge-offs on all loan segments are taken when specific loans, or portions thereof, are considered uncollectible. The Company’s policy is to promptly charge these loans off in the period the uncollectible loss is reasonably determined. | |||||||||||||||||||||||||||||||||||||
For all loan portfolio segments except one- to four-family residential properties and consumer, the Company promptly charges-off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including bankruptcy, that impairs the borrower’s ability to adequately meet its obligations. For impaired loans that are considered to be solely collateral dependent, a partial charge-off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral. | |||||||||||||||||||||||||||||||||||||
The Company charges-off one- to four-family residential and consumer loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Company adheres to timeframes established by applicable regulatory guidance which provides for the charge-down of one- to four-family first and junior lien mortgages to the net realizable value less costs to sell when the loan is 120 days past due, charge-off of unsecured open-end loans when the loan is 120 days past due, and charge-down to the net realizable value when other secured loans are 120 days past due. Loans at these respective delinquency thresholds for which the Company can clearly document that the loan is both well-secured and in the process of collection, such that collection will occur regardless of delinquency status, need not be charged off. Charge-offs may be taken sooner than the above-referenced timeframes if circumstances warrant. | |||||||||||||||||||||||||||||||||||||
The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date. | |||||||||||||||||||||||||||||||||||||
The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the prior four years. Management believes the four year historical loss experience methodology is appropriate in the current economic environment, as it captures loss rates that are comparable to the current period being analyzed. | |||||||||||||||||||||||||||||||||||||
We rate all loans by credit quality using the following designations: | |||||||||||||||||||||||||||||||||||||
GRADE 1 - Pass, superior credit quality | |||||||||||||||||||||||||||||||||||||
Loans of the highest quality. Financial strength of the borrower (exhibited by extremely low debt-to-income ratios/high debt-service coverage, low loan-to-value ratio, and clean credit history) is such that no loss is anticipated. Probability of serious or rapid deterioration is extremely small. | |||||||||||||||||||||||||||||||||||||
GRADE 2 - Pass, good credit quality | |||||||||||||||||||||||||||||||||||||
Loans of good quality. Overall above average credit, with strong capacity to repay (exhibited by higher debt-to-income ratios/lower debt-service coverage than Grade 1, but still better than average levels), sound credit history and employment. Loan-to-value is not as strong as Grade 1, but is greater than Grade 3. Minor loss exposure with the probability of serious financial deterioration unlikely. | |||||||||||||||||||||||||||||||||||||
GRADE 3 - Pass, low risk | |||||||||||||||||||||||||||||||||||||
Loans of satisfactory quality. Average quality due to average capacity to repay (exhibited by higher debt-to-income ratios/lower debt-service coverage than Grade 2 but better than levels requiring Loan Committee approval), employment, credit history, loan-to-value ratio, or paying habits. Deterioration possible if adverse factors occur. | |||||||||||||||||||||||||||||||||||||
GRADE 4 - Pass, acceptable risk | |||||||||||||||||||||||||||||||||||||
Loans of marginal, but acceptable quality due to below average capacity to repay (exhibited by high debt-to-income ratios/low debt-service coverage), high loan-to-value, or poor paying habits. Deterioration likely if adverse factors occur. | |||||||||||||||||||||||||||||||||||||
GRADE W-4 - Pass, watch list credit | |||||||||||||||||||||||||||||||||||||
These loans have the same characteristics as standard Grade 4 loans, with an added significant weakness such as the global debt-service coverage of the borrower being below 1.00. Such loans should have no delinquencies within the previous 12 months. | |||||||||||||||||||||||||||||||||||||
GRADE 5- Special Mention | |||||||||||||||||||||||||||||||||||||
Loans in this classification are in a state of change that could adversely affect paying ability, collateral value or which require monthly monitoring to protect the asset value. | |||||||||||||||||||||||||||||||||||||
GRADE 6- Substandard | |||||||||||||||||||||||||||||||||||||
A substandard asset with a defined weakness. Heavy debt condition, deterioration of collateral, poor paying habits, or conditions present that unless deficiencies are corrected will result in some loss. Loans 90 or more days past due should be automatically included in this grade. | |||||||||||||||||||||||||||||||||||||
GRADE 7- Doubtful | |||||||||||||||||||||||||||||||||||||
Poor quality. Loans in this group are characterized by less than adequate collateral and all of the characteristics of a loan classified as substandard. The possibility of a loss is extremely high, but factors may be underway to minimize the loss or maximize the recovery. | |||||||||||||||||||||||||||||||||||||
GRADE 8 - Loss | |||||||||||||||||||||||||||||||||||||
Loans classified loss are considered uncollectible and of such little value that their continuance as an asset is not warranted. | |||||||||||||||||||||||||||||||||||||
Interest income on loans individually classified as impaired is recognized on a cash basis after all past due and current principal payments have been made. | |||||||||||||||||||||||||||||||||||||
Subsequent payments on non-accrual loans are recorded as a reduction of principal, and interest income is recorded only after principal recovery is reasonably assured. Non-accrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. The Company requires a period of satisfactory performance of not less than six months before returning a non-accrual loan to accrual status. | |||||||||||||||||||||||||||||||||||||
The following tables provide an analysis of loan quality using the above designations, based on property type at December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||||
Loan Quality Analysis as of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Credit Rating | Commercial | Owner | Non-owner | Multi- | Commercial | Construction | Land | Consumer | |||||||||||||||||||||||||||||
Occupied | Occupied | Family | Real Estate | and | |||||||||||||||||||||||||||||||||
4-Jan | 4-Jan | Home | Total | ||||||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||||||
1- Superior | $ | 20 | $ | 3,703 | $ | 427 | $ | --- | $ | 98 | $ | --- | $ | 139 | $ | 1,854 | $ | 6,241 | |||||||||||||||||||
2 – Good | 1,528 | 24,965 | 3,307 | 1,755 | 10,784 | 2,393 | 1,752 | 11,419 | 57,903 | ||||||||||||||||||||||||||||
3 - Pass Low risk | 3,872 | 16,321 | 10,896 | 22,131 | 16,340 | 2,806 | 4,552 | 3,274 | 80,192 | ||||||||||||||||||||||||||||
4 – Pass | 3,035 | 5,088 | 22,579 | 19,006 | 23,604 | 247 | 2,239 | 589 | 76,387 | ||||||||||||||||||||||||||||
4W - Watch | 860 | 926 | 4,518 | 5,447 | 12,397 | --- | 85 | 35 | 24,268 | ||||||||||||||||||||||||||||
5 - Special mention | --- | 274 | 1,248 | 1,461 | 343 | --- | 412 | 38 | 3,776 | ||||||||||||||||||||||||||||
6 - Substandard | 2,146 | 742 | 3,067 | 66 | 8,464 | --- | 693 | 1 | 15,179 | ||||||||||||||||||||||||||||
7 - Doubtful | --- | --- | --- | --- | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||
8 – Loss | --- | --- | --- | --- | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||
Total | $ | 11,461 | $ | 52,019 | $ | 46,042 | $ | 49,866 | $ | 72,030 | $ | 5,446 | $ | 9,872 | $ | 17,210 | $ | 263,946 | |||||||||||||||||||
Loan Quality Analysis as of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Credit Rating | Commercial | Owner | Non-owner | Multi- | Commercial | Construction | Land | Consumer | |||||||||||||||||||||||||||||
Occupied | Occupied | Family | Real Estate | and | Total | ||||||||||||||||||||||||||||||||
4-Jan | 4-Jan | Home | |||||||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||||||
1- Superior | $ | 27 | $ | 3,849 | $ | 246 | $ | --- | $ | 103 | $ | 667 | $ | 193 | $ | 1,787 | $ | 6,872 | |||||||||||||||||||
2 – Good | 3,061 | 20,104 | 4,299 | 7,661 | 10,924 | 1,123 | 172 | 11,311 | 58,655 | ||||||||||||||||||||||||||||
3 - Pass Low risk | 7,982 | 16,459 | 12,625 | 31,281 | 31,853 | 5,383 | 286 | 3,374 | 109,243 | ||||||||||||||||||||||||||||
4 – Pass | 1,689 | 6,221 | 24,623 | 18,010 | 22,993 | 1,755 | 1,387 | 1,078 | 77,756 | ||||||||||||||||||||||||||||
4W - Watch | 186 | 746 | 2,894 | 2,954 | 5,014 | --- | 1,769 | --- | 13,563 | ||||||||||||||||||||||||||||
5 - Special mention | 296 | --- | 2,535 | 2,139 | 4,658 | --- | --- | --- | 9,628 | ||||||||||||||||||||||||||||
6 - Substandard | 49 | 1,166 | 3,449 | 778 | 6,885 | --- | 1,378 | 2 | 13,707 | ||||||||||||||||||||||||||||
7 - Doubtful | --- | --- | --- | --- | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||
8 – Loss | --- | --- | --- | --- | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||
Total | $ | 13,290 | $ | 48,545 | $ | 50,671 | $ | 62,823 | $ | 82,430 | $ | 8,928 | $ | 5,185 | $ | 17,552 | $ | 289,424 | |||||||||||||||||||
Analyses of past due loans segregated by loan type as of December 31, 2013 and December 31, 2012 are provided below. | |||||||||||||||||||||||||||||||||||||
Loan Portfolio Aging Analysis as of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | Over 90 Days | Total Past Due | Current | Total Loans | Under 90 Days | Total 90 Days | ||||||||||||||||||||||||||||||
and Not Accruing | and Accruing | ||||||||||||||||||||||||||||||||||||
Commercial | $ | --- | $ | 140 | $ | --- | $ | 140 | $ | 11,321 | $ | 11,461 | $ | --- | $ | --- | |||||||||||||||||||||
Owner occupied 1-4 | 84 | --- | --- | 84 | 51,935 | 52,019 | 553 | --- | |||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 362 | 183 | 1,152 | 1,697 | 44,345 | 46,042 | 554 | --- | |||||||||||||||||||||||||||||
Multi-family | --- | 65 | --- | 65 | 49,801 | 49,866 | 65 | --- | |||||||||||||||||||||||||||||
Commercial real estate | --- | --- | 111 | 111 | 71,919 | 72,030 | 16 | --- | |||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | 5,446 | 5,446 | --- | --- | |||||||||||||||||||||||||||||
Land | 35 | --- | 121 | 156 | 9,716 | 9,872 | --- | --- | |||||||||||||||||||||||||||||
Consumer and home equity | 2 | --- | --- | 2 | 17,208 | 17,210 | --- | --- | |||||||||||||||||||||||||||||
Total | $ | 483 | $ | 388 | $ | 1,384 | $ | 2,255 | $ | 261,691 | $ | 263,946 | $ | 1,188 | $ | --- | |||||||||||||||||||||
Loan Portfolio Aging Analysis as of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | Over 90 Days | Total Past Due | Current | Total Loans | Under 90 Days | Total 90 Days | ||||||||||||||||||||||||||||||
and Not Accruing | and Accruing | ||||||||||||||||||||||||||||||||||||
Commercial | $ | --- | $ | --- | $ | 49 | $ | 49 | $ | 13,241 | $ | 13,290 | $ | --- | $ | --- | |||||||||||||||||||||
Owner occupied 1-4 | 184 | 406 | 107 | 697 | 47,848 | 48,545 | 862 | --- | |||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 291 | 216 | 2,124 | 2,631 | 48,040 | 50,671 | 543 | --- | |||||||||||||||||||||||||||||
Multi-family | 700 | 78 | --- | 778 | 62,045 | 62,823 | 76 | --- | |||||||||||||||||||||||||||||
Commercial real estate | --- | --- | 487 | 487 | 81,943 | 82,430 | 815 | --- | |||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | 8,928 | 8,928 | --- | --- | |||||||||||||||||||||||||||||
Land | --- | 79 | 140 | 219 | 4,966 | 5,185 | 1,238 | --- | |||||||||||||||||||||||||||||
Consumer and home equity | 1 | 2 | --- | 3 | 17,549 | 17,552 | 2 | --- | |||||||||||||||||||||||||||||
Total | $ | 1,176 | $ | 781 | $ | 2,907 | $ | 4,864 | $ | 284,560 | $ | 289,424 | $ | 3,536 | $ | --- | |||||||||||||||||||||
Impaired loans are those for which we believe it is probable that we will not collect all principal and interest due in accordance with the original terms of the loan agreement. The following tables present impaired loans and interest recognized on them for the years ended December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||||
Impaired Loans as of and for the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Specific | Average | Interest | |||||||||||||||||||||||||||||||||
Balance | Principal | Allowance | Impaired | Income | |||||||||||||||||||||||||||||||||
Balance | Loans | Recognized | |||||||||||||||||||||||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | |||||||||||||||||||||||||||
Owner occupied 1-4 | 793 | 922 | --- | 1,089 | 28 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 2,543 | 3,264 | --- | 4,340 | 241 | ||||||||||||||||||||||||||||||||
Multi-family | 522 | 541 | --- | 1,346 | 101 | ||||||||||||||||||||||||||||||||
Commercial real estate | 2,452 | 2,646 | --- | 3,478 | 310 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | 694 | 959 | --- | 719 | --- | ||||||||||||||||||||||||||||||||
Consumer and home equity | 90 | 91 | --- | 100 | 5 | ||||||||||||||||||||||||||||||||
Total loans without a specific valuation allowance | 7,094 | 8,423 | --- | 11,072 | 685 | ||||||||||||||||||||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||||||||||||||||||
Commercial | 1,250 | 1,250 | 5 | 313 | 12 | ||||||||||||||||||||||||||||||||
Owner occupied 1-4 | 128 | 132 | 13 | 128 | 4 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 277 | 277 | 30 | 283 | 2 | ||||||||||||||||||||||||||||||||
Multi-family | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Commercial real estate | 4,251 | 3,769 | 749 | 2,952 | 347 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | 85 | 85 | 1 | 71 | 2 | ||||||||||||||||||||||||||||||||
Consumer and home equity | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Total loans with a specific valuation allowance | 5,991 | 5,513 | 798 | 3,747 | 367 | ||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||
Commercial | 1,250 | 1,250 | 5 | 313 | 12 | ||||||||||||||||||||||||||||||||
Owner occupied 1-4 | 921 | 1,054 | 13 | 1,217 | 32 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 2,820 | 3,541 | 30 | 4,623 | 243 | ||||||||||||||||||||||||||||||||
Multi-family | 522 | 541 | --- | 1,346 | 101 | ||||||||||||||||||||||||||||||||
Commercial real estate | 6,703 | 6,415 | 749 | 6,430 | 657 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | 779 | 1,044 | 1 | 790 | 2 | ||||||||||||||||||||||||||||||||
Consumer and home equity | 90 | 91 | --- | 100 | 5 | ||||||||||||||||||||||||||||||||
Total impaired loans | $ | 13,085 | $ | 13,936 | $ | 798 | $ | 14,819 | $ | 1,052 | |||||||||||||||||||||||||||
Impaired Loans as of and for the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Specific | Average | Interest | |||||||||||||||||||||||||||||||||
Balance | Principal | Allowance | Impaired | Income | |||||||||||||||||||||||||||||||||
Balance | Loans | Recognized | |||||||||||||||||||||||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 49 | $ | 521 | $ | --- | $ | 568 | $ | 35 | |||||||||||||||||||||||||||
Owner occupied 1-4 | 1,421 | 1,535 | --- | 1,434 | 65 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 5,636 | 5,990 | --- | 6,485 | 273 | ||||||||||||||||||||||||||||||||
Multi-family | 2,813 | 2,865 | --- | 3,032 | 151 | ||||||||||||||||||||||||||||||||
Commercial real estate | 4,667 | 5,720 | --- | 8,275 | 260 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | 1,379 | 1,615 | --- | 1,566 | 25 | ||||||||||||||||||||||||||||||||
Consumer and home equity | 92 | 114 | --- | 160 | 11 | ||||||||||||||||||||||||||||||||
Total loans without a specific valuation allowance | 16,057 | 18,360 | --- | 21,520 | 820 | ||||||||||||||||||||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||||||||||||||||||
Commercial | --- | --- | --- | 143 | 2 | ||||||||||||||||||||||||||||||||
Owner occupied 1-4 | 232 | 240 | 14 | 160 | 8 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 281 | 281 | 27 | 295 | 1 | ||||||||||||||||||||||||||||||||
Multi-family | 78 | 83 | 24 | 16 | --- | ||||||||||||||||||||||||||||||||
Commercial real estate | 1,566 | 1,567 | 253 | 1,612 | 48 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Consumer and home equity | --- | --- | --- | 1 | 1 | ||||||||||||||||||||||||||||||||
Total loans with a specific valuation allowance | 2,157 | 2,171 | 318 | 2,227 | 60 | ||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||
Commercial | 49 | 521 | --- | 711 | 37 | ||||||||||||||||||||||||||||||||
Owner occupied 1-4 | 1,653 | 1,775 | 14 | 1,594 | 73 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 5,917 | 6,271 | 27 | 6,780 | 274 | ||||||||||||||||||||||||||||||||
Multi-family | 2,891 | 2,948 | 24 | 3,048 | 151 | ||||||||||||||||||||||||||||||||
Commercial real estate | 6,233 | 7,287 | 253 | 9,887 | 308 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | 1,379 | 1,615 | --- | 1,566 | 25 | ||||||||||||||||||||||||||||||||
Consumer and home equity | 92 | 114 | --- | 161 | 12 | ||||||||||||||||||||||||||||||||
Total impaired loans | $ | 18,214 | $ | 20,531 | $ | 318 | $ | 23,747 | $ | 880 | |||||||||||||||||||||||||||
All loans rated substandard that have had an impairment allocated to them and all troubled debt restructures are considered impaired. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect all amounts due (both principal and interest) according to contractual terms of the loan agreement. Loans that are considered impaired are reviewed to determine if a specific allowance is required based on the borrower’s financial condition, resources and payment record, support from guarantors and the realizable value of any collateral. As a practical expedient, the Bank will typically use the collateral fair market value method to determine impairments unless circumstances preclude its use. In this method, any portion of the investment above the current fair market value of the collateral should be identified as an impairment. Fair market value is determined using a current appraisal or evaluation in compliance with federal appraisal regulations. | |||||||||||||||||||||||||||||||||||||
The following table gives a breakdown of non-accruing loans by loan class at December 31, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Commercial | $ | --- | $ | 49 | |||||||||||||||||||||||||||||||||
Owner occupied 1-4 | 553 | 969 | |||||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 1,706 | 2,667 | |||||||||||||||||||||||||||||||||||
Multi-family | 66 | 76 | |||||||||||||||||||||||||||||||||||
Commercial real estate | 126 | 1,302 | |||||||||||||||||||||||||||||||||||
Land | 121 | 1,378 | |||||||||||||||||||||||||||||||||||
Consumer and home equity | --- | 2 | |||||||||||||||||||||||||||||||||||
Total | $ | 2,572 | $ | 6,443 | |||||||||||||||||||||||||||||||||
Loans are placed on non-accrual status when, in the judgment of management, the probability of collection of interest is deemed to be insufficient to warrant further accrual. All interest accrued but not received for loans placed on non-accrual is reversed against interest income. Interest subsequently received on such loans is accounted for by using the cost-recovery basis for commercial loans and the cash-basis for retail loans until qualifying for return to accrual status. | |||||||||||||||||||||||||||||||||||||
Loans to related parties at December 31, 2013 totaled $2.6 million. Loans to related parties at December 31, 2012 of $3.1 million were reduced by paydowns of $625,000 and increased by new debt of $18,000. | |||||||||||||||||||||||||||||||||||||
The following tables present information regarding troubled debt restructurings by class for the years ended December 31, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings for Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | Type of Modification | ||||||||||||||||||||||||||||||||||
of Loans | Recorded Balance | Recorded Balance | |||||||||||||||||||||||||||||||||||
Commercial | 1 | $ | 1,250 | $ | 1,250 | Term | |||||||||||||||||||||||||||||||
Owner occupied 1-4 | 1 | 38 | 38 | Below market rate | |||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 7 | 1,519 | 1,246 | A/B loan, payment adjustment, term | |||||||||||||||||||||||||||||||||
Multi-family | 1 | 35 | 35 | Rate | |||||||||||||||||||||||||||||||||
Commercial Real Estate | 2 | 1,274 | 1,256 | Rate, term | |||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Land | 1 | 95 | 95 | Rate, term | |||||||||||||||||||||||||||||||||
Consumer and home equity | 1 | 29 | 29 | Term | |||||||||||||||||||||||||||||||||
Total | 14 | $ | 4,240 | $ | 3,949 | ||||||||||||||||||||||||||||||||
Troubled Debt Restructurings for Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||||||
of Loans | Recorded Balance | Recorded Balance | Type of Modification | ||||||||||||||||||||||||||||||||||
Commercial | 1 | $ | 245 | $ | 245 | Term | |||||||||||||||||||||||||||||||
Owner occupied 1-4 | 3 | 239 | 239 | Rate, high loan-to-value | |||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Multi-family | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Commercial Real Estate | 2 | 1,889 | 1,430 | A/B loan, payment adjustment | |||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Land | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Consumer and home equity | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Total | 6 | $ | 2,373 | $ | 1,914 | ||||||||||||||||||||||||||||||||
No troubled debt restructurings modified in the past 12 months have subsequently defaulted. As of December 31, 2013, borrowers with loans designated as troubled debt restructures and totaling $6.8 million, met the criteria for placement back on accrual status. These criteria are a minimum of six months payment performance under existing or modified terms. |
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||
Premises and Equipment | ' | |||||||||
Note 5: Premises and Equipment | ||||||||||
Major classifications of premises and equipment, stated at cost, are as follows: | ||||||||||
2013 | 2012 | |||||||||
Land | $ | 1,681 | $ | 1,681 | ||||||
Buildings and improvements | 8,552 | 7,569 | ||||||||
Equipment | 3,811 | 3,493 | ||||||||
14,044 | 12,743 | |||||||||
Less accumulated depreciation | (6,111 | ) | (5,674 | ) | ||||||
Net premises and equipment | $ | 7,933 | $ | 7,069 |
Loan_Servicing
Loan Servicing | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Loan Servicing [Abstract] | ' | |||||||||
Loan Servicing | ' | |||||||||
Note 6: Loan Servicing | ||||||||||
Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of mortgage loans serviced for others were $131.1 million and $123.2 million at December 31, 2013 and 2012, respectively. | ||||||||||
The following summarizes the activity pertaining to mortgage servicing rights measured using the amortization method. Comparable market values and a valuation model that calculates the present value of future cash flows were used to estimate fair value of the mortgage servicing rights. For purposes of measuring impairment, risk characteristics including product type, investor type and interest rates, were used to stratify the originated mortgage servicing rights. | ||||||||||
2013 | 2012 | |||||||||
Mortgage servicing rights | ||||||||||
Balance, beginning of year | $ | 983 | $ | 962 | ||||||
Additions | 277 | 419 | ||||||||
Amortization of servicing rights | (173 | ) | (398 | ) | ||||||
Balance, end of year | $ | 1,087 | $ | 983 | ||||||
2013 | 2012 | |||||||||
Fair value, beginning of period | $ | 1,184 | $ | 983 | ||||||
Fair value, end of period | 1,513 | 1,184 |
Deposits
Deposits | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Deposits [Abstract] | ' | |||||||||||||||||
Deposits | ' | |||||||||||||||||
Note 7: Deposits | ||||||||||||||||||
Deposits at year-end are summarized as follows: | ||||||||||||||||||
2013 | 2012 | |||||||||||||||||
Amount | Percent | Amount | Percent | |||||||||||||||
Non-interest-bearing deposits | $ | 33,488 | 10.64 | % | $ | 30,879 | 10 | % | ||||||||||
NOW accounts | 120,752 | 38.38 | 107,859 | 34.95 | ||||||||||||||
Savings accounts | 30,866 | 9.81 | 28,966 | 9.39 | ||||||||||||||
185,106 | 58.83 | 167,704 | 54.34 | |||||||||||||||
Certificates of deposit | ||||||||||||||||||
0.00% to 1.99% | 94,948 | 30.18 | 94,506 | 30.62 | ||||||||||||||
2.00% to 3.99% | 33,367 | 10.61 | 42,802 | 13.87 | ||||||||||||||
4.00% to 5.99% | 1,199 | 0.38 | 3,620 | 1.17 | ||||||||||||||
6.00% to 7.99% | --- | --- | 5 | --- | ||||||||||||||
129,514 | 41.17 | 140,933 | 45.66 | |||||||||||||||
$ | 314,620 | 100 | % | $ | 308,637 | 100 | % | |||||||||||
At December 31, 2013, scheduled maturities of certificates of deposit are as follows: | ||||||||||||||||||
2014 | $ | 77,716 | ||||||||||||||||
2015 | 30,829 | |||||||||||||||||
2016 | 9,249 | |||||||||||||||||
2017 | 5,805 | |||||||||||||||||
2018 | 5,915 | |||||||||||||||||
$ | 129,514 | |||||||||||||||||
Time deposits of $100,000 or more, including brokered deposits, were $68.4 million and $69.2 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||
Deposits from related parties held by the Company at December 31, 2013 and 2012 totaled $1.7 million and $2.0 million, respectively. | ||||||||||||||||||
Brokered deposits totaled approximately $13.7 million at both December 31, 2013 and 2012. |
Federal_Home_Loan_Bank_Advance
Federal Home Loan Bank Advances | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Advances From Federal Home Loan Banks [Abstract] | ' | |||||
Federal Home Loan Bank Advances | ' | |||||
Note 8: Federal Home Loan Bank Advances | ||||||
Federal Home Loan Bank advances totaled $10.0 million and $15.0 million at December 31, 2013 and 2012, respectively. At December 31, 2013, the advances range in interest rates from 1.84% to 3.13% and are secured by blanket mortgage loan collateral totaling $110 million. | ||||||
Aggregate annual maturities of the advances at December 31, 2013, are: | ||||||
2014 | $ | --- | ||||
2015 | 3,000 | |||||
2016 | 7,000 | |||||
2017 | --- | |||||
$ | 10,000 |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||
Income Taxes | ' | |||||||||
Note 9: Income Taxes | ||||||||||
The provision for income taxes includes these components: | ||||||||||
2013 | 2012 | |||||||||
Taxes currently payable | $ | 1,683 | $ | 1,774 | ||||||
Deferred income taxes | (227 | ) | (242 | ) | ||||||
Income tax expense | $ | 1,456 | $ | 1,532 | ||||||
A reconciliation of income tax expense at the statutory rate to the Company’s actual income tax expense is shown below: | ||||||||||
2013 | 2012 | |||||||||
Computed at the statutory rate (34%) | $ | 1,358 | $ | 1,425 | ||||||
Increase (decrease) resulting from | ||||||||||
Tax exempt interest | (67 | ) | (51 | ) | ||||||
State income taxes | 193 | 195 | ||||||||
Other | (28 | ) | (37 | ) | ||||||
Actual tax expense | $ | 1,456 | $ | 1,532 | ||||||
The tax effects of temporary differences related to deferred taxes were: | ||||||||||
2013 | 2012 | |||||||||
Deferred tax assets | ||||||||||
Allowance for loan losses | $ | 2,632 | $ | 2,382 | ||||||
Non-accrual loan income | 342 | 350 | ||||||||
Unrealized gain on available-for-sale securities | 196 | --- | ||||||||
Other | 359 | 344 | ||||||||
3,529 | 3,076 | |||||||||
Deferred tax liabilities | ||||||||||
Depreciation | 287 | 265 | ||||||||
Mortgage servicing rights | 459 | 416 | ||||||||
FHLB stock dividends | 131 | 132 | ||||||||
Unrealized loss on available-for-sale securities | --- | 212 | ||||||||
Other | 320 | 357 | ||||||||
1,197 | 1,382 | |||||||||
Net deferred tax asset | $ | 2,332 | $ | 1,694 | ||||||
Retained earnings at December 31, 2013 and 2012 include approximately $1.9 million for which no deferred federal income tax liability has been recognized. This amount represents an allocation of income to bad debt deductions for tax purposes only. Reduction of amounts so allocated for purposes other than tax bad debt losses or adjustments arising from carryback of net operating losses would create income for tax purposes only, which would be subject to the then-current corporate income tax rate. The deferred income tax liabilities on the preceding amounts that would have been recorded if they were expected to reverse into taxable income in the foreseeable future were approximately $737,000 at December 31, 2013 and 2012. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Accumulated Other Comprehensive Income (Loss) | ' |
Note 10: Accumulated Other Comprehensive Income (Loss) | |
The components of accumulated other income, included in the consolidated statement of stockholder’s equity, are related to unrealized gains in the available-for-sale investment portfolio. Net unrealized gains (losses) as of December 31, 2013 and 2012 were approximately ($496,000) and $536,000, with related deferred income tax expense (benefit) of approximately ($196,000) and $212,000, respectively. |
Regulatory_Matters
Regulatory Matters | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Regulatory Capital Requirements Under Banking Regulations [Abstract] | ' | ||||||||||||||||||||
Regulatory Matters | ' | ||||||||||||||||||||
Note 11: Regulatory Matters | |||||||||||||||||||||
The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. As discussed in the Regulation section of this Annual Report on Form 10-K, the Federal Reserve has released new rules that will increase the capital adequacy standards over the next few years and change the regulatory framework for prompt corrective action. | |||||||||||||||||||||
The current quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below). Management believes, as of December 31, 2013 and 2012 that the Bank meets all capital adequacy requirements to which it is subject. | |||||||||||||||||||||
As of December 31, 2013, the most recent notification from the OCC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier I risk-based and Tier I leverage ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the Bank’s category. | |||||||||||||||||||||
The Bank’s actual capital amounts and ratios are also presented in the table. The tables include capital amounts and ratios reported in the periodic Call Reports required by the OCC. | |||||||||||||||||||||
Actual | For Capital Adequacy | To Be Well Capitalized Under Prompt Corrective | |||||||||||||||||||
Purposes | Action Provisions | ||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||
Total risk-based capital | $ | 43,604 | 17.4 | % | $ | 20,054 | 8 | % | $ | 25,067 | 10 | % | |||||||||
(to risk-weighted assets) | |||||||||||||||||||||
Tier I capital | 40,431 | 16.1 | 10,027 | 4 | 15,040 | 6 | |||||||||||||||
(to risk-weighted assets) | |||||||||||||||||||||
Tier I capital | 40,431 | 11 | 11,048 | 3 | 18,413 | 5 | |||||||||||||||
(to adjusted total assets) | |||||||||||||||||||||
As of December 31, 2012 | |||||||||||||||||||||
Total risk-based capital | $ | 41,400 | 16 | % | $ | 20,694 | 8 | % | $ | 25,868 | 10 | % | |||||||||
(to risk-weighted assets) | |||||||||||||||||||||
Tier I capital | 38,134 | 14.7 | 10,347 | 4 | 15,521 | 6 | |||||||||||||||
(to risk-weighted assets) | |||||||||||||||||||||
Tier I capital | 38,134 | 10.5 | 10,928 | 3 | 18,213 | 5 | |||||||||||||||
(to adjusted total assets) | |||||||||||||||||||||
The Bank and the Company are subject to certain restrictions on the amount of dividends that each may declare without prior regulatory approval. At December 31, 2013, regulatory action was required for all dividend declarations. | |||||||||||||||||||||
In 1995, when the Company converted from a mutual to a stock institution, a “liquidation account” was established at $8.1 million, which was net worth reported in the conversion prospectus. Eligible depositors who have maintained their accounts, less annual reduction to the extent they have reduced their deposits, would receive a distribution from this account if the Bank liquidated. Dividends may not reduce shareholders’ equity below the required liquidation account balance. |
Employee_Benefits
Employee Benefits | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Compensation and Employee Benefit Plans [Abstract] | ' | |||||||
Employee Benefits | ' | |||||||
Note 12: Employee Benefits | ||||||||
The Bank maintains an ESOP, which purchased 8% of the stock offered in the conversion of the Company from a mutual to a stock institution. All shares in the ESOP have been allocated to participants in prior years. Dividends paid on allocated shares are charged to retained earnings. | ||||||||
There was no ESOP expense recorded for 2013 and 2012. | ||||||||
2013 | 2012 | |||||||
ESOP shares allocated | 78,334 | 95,680 | ||||||
The Company has a retirement savings 401(k) plan covering substantially all employees. Employees may contribute up to 100% of their compensation with the Company matching 100% of the employee’s contribution on the first 4% of the employee’s compensation. Employer contributions charged to expense for 2013 and 2012 were $99,000 and $127,000, respectively. |
Stock_Option_Plans
Stock Option Plans | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | ||||||||||||
Stock Option Plans | ' | ||||||||||||
Note 13: Stock Option Plans | |||||||||||||
The Company’s original Incentive Stock Option Plan (the “1995 Plan”), which was shareholder approved, permitted the grant of stock options to its directors, officers and other key employees. The 1995 Plan authorized the grant of options for up to 238,050 shares of the Company’s common stock which generally vest at a rate of 20 percent a year and have a 10-year contractual life. At December 31, 2013, 10,610 shares from the 1995 Plan were outstanding. The Company’s 2007 Incentive Stock Option Plan (“2007 Plan”), which is shareholder approved, also permits the grant of stock options to its directors, officers and other key employees. The 2007 Plan authorized the grant of options for up to 81,000 shares of the Company’s common stock, which generally vest at a rate of 20 percent a year and have a 10-year contractual term. At December 31, 2013, 32,315 shares from the 2007 Plan were outstanding. The Company believes that such awards better align the interests of its directors and employees with those of its shareholders. Option awards are granted with an exercise price equal to the market price of the Company’s stock at the date of grant. Certain option awards provide for accelerated vesting if there is a change in control (as defined in the 1995 and 2007 Plans). The Company issues shares from its authorized shares to satisfy option exercises. There were no options granted under the 2007 Plan during 2013. | |||||||||||||
The fair value of each option award is estimated on the date of grant using a Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatility is based on historical volatility of the Company’s stock and other factors. The Company uses historical data to estimate option exercise and employee termination within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of options granted represents the period of time that options are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The discount rate for post-vesting restrictions is estimated based on the Company’s credit-adjusted risk-free rate of return. | |||||||||||||
No option awards were granted in 2013. | |||||||||||||
A summary of option activity under the 1995 and 2007 Plans as of December 31, 2013, and changes during the year then ended, is presented below: | |||||||||||||
2013 | |||||||||||||
Shares | Weighted-Average Exercise Price | Weighted-Average | Aggregate Intrinsic Value | ||||||||||
Remaining Contractual Term | |||||||||||||
Outstanding, beginning of year | 64,183 | $ | 18.58 | ||||||||||
Granted | 0 | ||||||||||||
Exercised | (8,866 | ) | 20.83 | ||||||||||
Forfeited | (12,392 | ) | 18.68 | ||||||||||
Outstanding, end of year | 42,925 | $ | 18.36 | 6.27 years | $ | 131 | |||||||
Exercisable, end of year | 18,722 | $ | 20.12 | 2.48 years | $ | 70 | |||||||
The weighted-average grant-date fair value of options granted during 2012 was $672,000. There were no options granted during the year 2013. The total intrinsic value of options exercised during the years ended December 31, 2012 and 2013 was $5,000 and $45,000, respectively. | |||||||||||||
Cash received from option exercise under all share-based payment arrangements for the years ended December 31, 2012 and 2013 was $7,000 and $184,000, respectively. The actual tax benefit realized for the tax deductions from option exercise of the share-based payment arrangements totaled $2,000 and $3,000, respectively, for the years ended December 31, 2012 and 2013. | |||||||||||||
There were 12,392 options forfeited in 2013. There were 2,000 options forfeited or expired during the year ended December 31, 2012. | |||||||||||||
As of December 31, 2013, there was $63,000 of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan. That cost is expected to be recognized over a weighted average period of four years. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Earnings Per Share | ' | |||||||||||||
Note 14: Earnings Per Share | ||||||||||||||
Earnings per share (EPS) were computed as follows: | ||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||
Income | Weighted- | Per Share Amount | ||||||||||||
Average | ||||||||||||||
Shares | ||||||||||||||
Net income | $ | 2,538 | 1,558,729 | |||||||||||
Basic earnings per share | ||||||||||||||
Income available to common stockholders | $ | 1.63 | ||||||||||||
Effect of dilutive securities | ||||||||||||||
Stock options | 6,867 | |||||||||||||
Diluted earnings per share | ||||||||||||||
Income available to common stockholders and assumed conversions | $ | 2,538 | 1,565,596 | $ | 1.62 | |||||||||
There were no options outstanding at December 31, 2013 that were considered anti-dilutive. | ||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||
Income | Weighted- | Per Share Amount | ||||||||||||
Average | ||||||||||||||
Shares | ||||||||||||||
Net income | $ | 2,659 | 1,555,810 | |||||||||||
Basic earnings per share | ||||||||||||||
Income available to common stockholders | $ | 1.71 | ||||||||||||
Effect of dilutive securities | ||||||||||||||
Stock options | 5,685 | |||||||||||||
Diluted earnings per share | ||||||||||||||
Income available to common stockholders and assumed conversions | $ | 2,659 | 1,561,495 | $ | 1.7 | |||||||||
There were 25,866 options outstanding at December 31, 2012 that were considered anti-dilutive. |
Disclosures_About_Fair_Value_o
Disclosures About Fair Value of Financial Instruments | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||
Disclosures About Fair Value of Financial Instruments | ' | |||||||||||||||||
Note 15: Disclosures About Fair Value of Financial Instruments | ||||||||||||||||||
ASC Topic 820-10, Fair Value Measurements, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820-10 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: | ||||||||||||||||||
Level 1 | Quoted prices in active markets for identical assets or liabilities | |||||||||||||||||
Level 2 | Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities | |||||||||||||||||
Level 3 | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities | |||||||||||||||||
Recurring Measurements | ||||||||||||||||||
The following table presents the fair value measurement of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2013 and 2012: | ||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||
31-Dec-13 | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
U.S. government-sponsored agencies | $ | 28,604 | $ | --- | $ | 28,604 | $ | --- | ||||||||||
Mortgage-backed securities | 16,599 | --- | 16,599 | --- | ||||||||||||||
Corporate bonds | 1,063 | --- | 1,063 | --- | ||||||||||||||
State and political subdivision securities | 16,439 | --- | 16,439 | --- | ||||||||||||||
Totals | $ | 62,705 | $ | --- | $ | 62,705 | $ | --- | ||||||||||
31-Dec-12 | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
U.S. government-sponsored agencies | $ | 10,709 | $ | --- | $ | 10,709 | $ | --- | ||||||||||
Mortgage-backed securities | 7,198 | --- | 7,198 | --- | ||||||||||||||
State and political subdivision securities | 10,097 | --- | 10,097 | --- | ||||||||||||||
Totals | $ | 28,004 | $ | --- | $ | 28,004 | $ | --- | ||||||||||
Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. | ||||||||||||||||||
Available-for-Sale Securities | ||||||||||||||||||
Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Such securities are classified in Level 2 of the valuation hierarchy. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. | ||||||||||||||||||
Nonrecurring Measurements | ||||||||||||||||||
The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2013 and 2012: | ||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||
Collateral-dependent impaired loans | ||||||||||||||||||
31-Dec-13 | $ | 3,637 | $ | --- | $ | --- | $ | 3,637 | ||||||||||
31-Dec-12 | $ | 527 | $ | --- | $ | --- | $ | 527 | ||||||||||
Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of those assets pursuant to the valuation hierarchy. | ||||||||||||||||||
Collateral-Dependent Impaired Loans, Net of Allowance for Loan and Lease Losses | ||||||||||||||||||
The estimated fair value of collateral-dependent impaired loans is based on the appraised fair value of the collateral, less estimated cost to sell. Collateral-dependent impaired loans are classified within Level 3 of the fair value hierarchy. | ||||||||||||||||||
The Company considers the appraisal or evaluation as the starting point for determining fair value and then considers other factors and events in the environment that may affect the fair value. Appraisals of the collateral underlying collateral-dependent loans are obtained when the loan is determined to be collateral-dependent and subsequently as deemed necessary by the office of the Company’s Controller. Appraisals are reviewed for accuracy and consistency by the Controller’s office. Appraisers are selected from the list of approved appraisers maintained by management. The appraised values are reduced by discounts to consider lack of marketability and estimated cost to sell if repayment or satisfaction of the loan is dependent on the sale of the collateral. These discounts and estimates are developed by the Controller’s office by comparison to historical results. | ||||||||||||||||||
Unobservable (Level 3) Inputs | ||||||||||||||||||
The following table presents quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements at December 31, 2013 and 2012: | ||||||||||||||||||
Value at 12/31/2013 | Valuation Technique | Unobservable Inputs | Range (Weighted Average) | |||||||||||||||
Collateral-dependent impaired loans | $3,637 | Market comparable properties | Marketability discount | 10%-20% | ||||||||||||||
Value at 12/31/2012 | Valuation Technique | Unobservable Inputs | Range (Weighted Average) | |||||||||||||||
Collateral-dependent impaired loans | $ 527 | Market comparable properties | Marketability discount | 10% | ||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||
The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2013 and December 31, 2012. | ||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||
Carrying Amount | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||
December 31, 2013: | ||||||||||||||||||
Financial assets | ||||||||||||||||||
Cash and cash equivalents | $ | 24,198 | $ | 24,198 | $ | --- | $ | --- | ||||||||||
Interest bearing time deposits | 1,743 | --- | 1,743 | --- | ||||||||||||||
Loans held for sale | 657 | --- | 657 | --- | ||||||||||||||
Loans, net of allowance for losses | 254,703 | --- | --- | 265,715 | ||||||||||||||
Federal Home Loan Bank stock | 3,185 | --- | 3,185 | --- | ||||||||||||||
Mortgage servicing rights | 1,087 | --- | --- | 1,513 | ||||||||||||||
Accrued interest receivable | 1,114 | --- | 1,114 | --- | ||||||||||||||
Financial liabilities | ||||||||||||||||||
Transaction and savings deposits | 185,106 | 185,106 | --- | --- | ||||||||||||||
Time Deposits | 129,514 | --- | --- | 130,892 | ||||||||||||||
Federal Home Loan Bank advances | 10,000 | --- | 10,289 | --- | ||||||||||||||
Accrued interest payable | 34 | --- | 34 | --- | ||||||||||||||
December 31, 2012: | ||||||||||||||||||
Financial assets | ||||||||||||||||||
Cash and cash equivalents | $ | 31,421 | $ | 31,421 | $ | --- | $ | --- | ||||||||||
Interest bearing time deposits | 1,740 | --- | 1,740 | --- | ||||||||||||||
Loans held for sale | 1,363 | --- | 1,363 | --- | ||||||||||||||
Loans, net of allowance for losses | 280,257 | --- | --- | 299,010 | ||||||||||||||
Federal Home Loan Bank stock | 3,185 | --- | 3,185 | --- | ||||||||||||||
Mortgage servicing rights | 983 | --- | --- | 1,184 | ||||||||||||||
Accrued interest receivable | 1,133 | --- | 1,133 | --- | ||||||||||||||
Financial liabilities | ||||||||||||||||||
Transaction and savings deposits | 167,704 | 167,704 | --- | --- | ||||||||||||||
Time Deposits | 140,933 | --- | --- | 143,181 | ||||||||||||||
Federal Home Loan Bank advances | 15,000 | --- | 15,515 | --- | ||||||||||||||
Accrued interest payable | 40 | --- | 40 | --- | ||||||||||||||
The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying consolidated balance sheets at amounts other than fair value. | ||||||||||||||||||
Cash and Cash Equivalents and Interest-Bearing Time Deposits | ||||||||||||||||||
The carrying amount approximates fair value. | ||||||||||||||||||
Loans Held For Sale | ||||||||||||||||||
The carrying amount approximates fair value due to the insignificant time between origination and date of sale. The carrying amount is the amount funded and accrued interest. | ||||||||||||||||||
Loans | ||||||||||||||||||
Fair value is estimated by discounting the future cash flows using the market rates at which similar notes would be made to borrowers with similar credit ratings and for the same remaining maturities. The market rates used are based on current rates the Bank would impose for similar loans and reflect a market participant assumption about risks associated with non-performance, illiquidity, and the structure and term of the loans along with local economic and market conditions. | ||||||||||||||||||
Federal Home Loan Bank Stock | ||||||||||||||||||
Fair value is estimated at book value due to restrictions that limit the sale or transfer of such securities. | ||||||||||||||||||
Accrued Interest Receivable and Payable | ||||||||||||||||||
The carrying amount approximates fair value. The carrying amount is determined using the interest rate, balance and last payment date. | ||||||||||||||||||
Deposits | ||||||||||||||||||
Fair value of term deposits is estimated by discounting the future cash flows using rates of similar deposits with similar maturities. The market rates used were obtained from a knowledgeable independent third party and reviewed by the Company. The rates were the average of current rates offered by local competitors of the Bank. | ||||||||||||||||||
The estimated fair value of demand, NOW, savings and money market deposits is the book value since rates are regularly adjusted to market rates and amounts are payable on demand at the reporting date. | ||||||||||||||||||
Federal Home Loan Bank Advances | ||||||||||||||||||
Fair value is estimated by discounting the future cash flows using rates of similar advances with similar maturities. These rates were obtained from current rates offered by FHLB. | ||||||||||||||||||
Commitments to Originate Loans, Forward Sale Commitments, Letters of Credit and Lines of Credit | ||||||||||||||||||
The fair value of commitments to originate loans is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. | ||||||||||||||||||
The fair value of commitments to sell securities is estimated based on current market prices for securities of similar terms and credit quality. | ||||||||||||||||||
The fair values of letters of credit and lines of credit are based on fees currently charged for similar agreements or on the estimated cost to terminate or otherwise settle the obligations with the counterparties at the reporting date. The fair value of commitments was not material at December 31, 2013 and 2012. |
Commitments_and_Contingent_Lia
Commitments and Contingent Liabilities | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||||
Commitments and Contingent Liabilities | ' | |||||||||
Note 16: Commitments and Contingent Liabilities | ||||||||||
Some financial instruments, such as loan commitments, credit lines, letters of credit and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment. | ||||||||||
At year-end, these financial instruments are summarized as follows: | ||||||||||
2013 | 2012 | |||||||||
Commitments to extend credit | ||||||||||
Fixed rate | $ | 5,592 | $ | 9,062 | ||||||
Variable rate | --- | 227 | ||||||||
Unused portions of lines of credit | 23,956 | 26,968 | ||||||||
Letters of credit | 144 | 49 | ||||||||
The commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established under the contract. Generally, such commitments are for no more than 60 days. At December 31, 2013, the fixed rate loan commitments were at rates ranging from 3.38% to 4.88%. Unused portions of lines of credit include balances available on commercial and home equity loans and are variable rate. |
Condensed_Financial_Informatio
Condensed Financial Information (Parent Company Only) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||
Condensed Financial Information (Parent Company Only) | ' | ||||||||
Note 17: Condensed Financial Information (Parent Company Only) | |||||||||
Presented below is condensed financial information as to financial position, results of operations and cash flows of the Company: | |||||||||
Condensed Balance Sheets | |||||||||
31-Dec | |||||||||
2013 | 2012 | ||||||||
Assets | |||||||||
Cash | $ | 339 | $ | 223 | |||||
Securities available-for-sale | --- | 110 | |||||||
Investment in the Bank | 40,245 | 38,556 | |||||||
Other assets | 143 | 66 | |||||||
Total assets | $ | 40,727 | $ | 38,955 | |||||
Liabilities | $ | --- | $ | --- | |||||
Stockholders’ Equity | 40,727 | 38,955 | |||||||
Total liabilities and stockholders’ equity | $ | 40,727 | $ | 38,955 | |||||
Condensed Statements of Income and Comprehensive Income | |||||||||
Years Ending December 31 | |||||||||
2013 | 2012 | ||||||||
Income | |||||||||
Dividends from the Bank | $ | 400 | $ | 155 | |||||
Other income | --- | 7 | |||||||
Total income | 400 | 162 | |||||||
Expenses | (216 | ) | (211 | ) | |||||
Income (Loss) Before Income Tax and Equity in Undistributed Net Income (Loss) of Bank Subsidiary | 184 | (49 | ) | ||||||
Income Tax Benefit | 85 | 82 | |||||||
Income Before Equity in Undistributed Income of Bank Subsidiary | 269 | 33 | |||||||
Equity in Undistributed Income of Bank Subsidiary | 2,269 | 2,626 | |||||||
Net Income | $ | 2,538 | $ | 2,659 | |||||
Comprehensive Income | $ | 1,920 | $ | 2,747 | |||||
Condensed Statements of Cash Flows | |||||||||
Years Ending December 31 | |||||||||
2013 | 2012 | ||||||||
Operating Activities | |||||||||
Net income | $ | 2,538 | $ | 2,659 | |||||
Equity in undistributed income of the Bank | (2,269 | ) | (2,626 | ) | |||||
Change in other assets | (76 | ) | 15 | ||||||
Net cash provided by operating activities | 193 | 48 | |||||||
Investing Activity - proceeds from paydowns of securities | 110 | 18 | |||||||
Financing Activity | |||||||||
Dividends paid | (374 | ) | (77 | ) | |||||
Stock options exercised | 184 | 7 | |||||||
Tax benefit of stock options exercised | 3 | 2 | |||||||
Net cash used in financing activities | (187 | ) | (68 | ) | |||||
Net Change in Cash | 116 | (2 | ) | ||||||
Cash at Beginning of Year | 223 | 225 | |||||||
Cash at End of Year | $ | 339 | $ | 223 |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2013 | |
New Accounting Pronouncements and Changes In Accounting Principles [Abstract] | ' |
Recent Accounting Pronouncements | ' |
Note 18: Recent Accounting Pronouncements | |
In January 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-04, “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure,” to reduce diversity by clarifying when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. | |
In January 2014, the FASB issued ASU 2014-01, “Accounting for Investments in Qualified Affordable Housing Projects,” to permit entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. The ASU modifies the conditions that an entity must meet to be eligible to use a method other than the equity or cost methods to account for qualified affordable housing project investments. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated 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,” to require presentation in the financial statements of an unrecognized tax benefit or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss (NOL) carryforward, a similar tax loss, or a tax credit carryforward, except as follows. When an NOL carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position, or when the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Adoption of the ASU is not expected to have a significant effect on the Company’s consolidated financial statements. |
Nature_of_Operations_and_Summa1
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Business Description and Accounting Policies [Abstract] | ' |
Principles of Consolidation | ' |
Principles of Consolidation | |
The consolidated financial statements include the accounts of the Company, the Bank, and the Bank’s subsidiary, L.S.B. Service Corporation (“LSBSC”). All significant intercompany accounts and transactions have been eliminated in consolidation. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses and fair value of servicing rights and financial instruments. In connection with the determination of the allowance for loan losses, management obtains independent appraisals for significant properties. A substantial portion of the loan portfolio is secured by single and multi-family residential mortgages. | |
Cash Equivalents | ' |
Cash Equivalents | |
The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. | |
Securities | ' |
Securities | |
Available-for-sale securities, which include any security for which the Company has no immediate plan to sell but which may be sold in the future, are carried at fair value. Unrealized gains and losses are recorded, net of related income tax effects, in other comprehensive income. | |
Amortization of premiums and accretion of discounts are recorded as interest income from securities. Realized gains and losses are recorded as net security gains (losses). Gains and losses on sales of securities are determined on the specific-identification method. | |
Loans Held for Sale | ' |
Loans Held for Sale | |
Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to non-interest income. Gains and losses on loan sales are recorded in non-interest income, and direct loan origination costs and fees are deferred at origination of the loan and are recognized in non-interest income upon sale of the loan. | |
Loans | ' |
Loans | |
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoffs are reported at their outstanding principal balances adjusted for any charge-offs, the allowance for loan losses, any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term. | |
For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized as a level yield adjustment over the respective term of the loan. | |
The accrual of interest on mortgage and commercial loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Past due status is based on contractual terms of the loan. In all cases, loans are placed on non-accrual or charged off at an earlier date if collection of principal or interest is considered doubtful. | |
All interest accrued but not collected for loans that are placed on non-accrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | |
Allowance for Loan Losses | ' |
Allowance for Loan Losses | |
The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. | |
The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. | |
The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonclassified loans and is based on historical charge-off experience and expected loss given default derived from the Company’s internal risk rating process. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data. | |
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. | |
Large groups of smaller balance homogenous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and residential loans for impairment measurements. | |
Premises and Equipment | ' |
Premises and Equipment | |
Depreciable assets are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line and accelerated methods over the estimated useful lives of the assets ranging from 3 to 39 years. | |
Federal Home Loan Bank Stock | ' |
Federal Home Loan Bank Stock | |
Federal Home Loan Bank stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in the common stock is based on a predetermined formula, carried at cost and evaluated for impairment. | |
Foreclosed Assets Held for Sale | ' |
Foreclosed Assets Held for Sale | |
Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in net income or expense from foreclosed assets. | |
Servicing Rights | ' |
Servicing Rights | |
Servicing rights on originated loans that have been sold are initially recorded at fair value. Capitalized servicing rights are amortized in proportion to and over the period of estimated servicing revenues. Impairment of mortgage servicing rights is assessed based on the fair value of those rights. Fair values are estimated using discounted cash flows based on a current market interest rate. For purposes of measuring impairment, the rights are stratified based on the predominant risk characteristics of the underlying loans. The predominant characteristic currently used for stratification is type of loan. The amount of impairment recognized is the amount by which the capitalized mortgage servicing rights for a stratum exceed their fair value and is recorded through a valuation allowance. | |
Stock Options | ' |
Stock Options | |
The Company has a stock-based employee compensation plan, which is described more fully in Note 13. | |
Income Taxes | ' |
Income Taxes | |
The Company accounts for income taxes in accordance with income tax accounting guidance (ASC 740, Income Taxes). The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. | |
Uncertain tax positions are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50%; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. With a few exceptions, the Company is no longer subject to U.S. federal, state, and local or non-U.S. income tax examinations by authorities for years before 2010. | |
Earnings Per Share | ' |
Earnings Per Share | |
Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding during each period. Diluted earnings per share reflects additional potential common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate solely to outstanding stock options and are determined using the treasury stock method. | |
Operating Segments | ' |
Operating Segments | |
While the chief decision-makers monitor the revenue streams of the various products and services, the identifiable segments are not material and operations are managed and financial performance is evaluated on a Company-wide basis. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. |
Securities_Tables
Securities (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||
Schedule of amortized cost and approximate fair values, together with gross unrealized gains and losses of securities | ' | |||||||||||||||||||||
Amortized | Gross | Gross | Approximate | |||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | |||||||||||||||||||
Gains | Losses | |||||||||||||||||||||
Available-for-sale Securities: | ||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||
U.S. Government sponsored agencies | $ | 28,982 | $ | 39 | $ | (417 | ) | $ | 28,604 | |||||||||||||
Mortgage-backed securities-Government sponsored entities | 16,704 | 122 | (227 | ) | 16,599 | |||||||||||||||||
Corporate bonds | 1,050 | 13 | --- | 1,063 | ||||||||||||||||||
State and political subdivisions | 16,465 | 172 | (198 | ) | 16,439 | |||||||||||||||||
$ | 63,201 | $ | 346 | $ | (842 | ) | $ | 62,705 | ||||||||||||||
Available-for-sale Securities: | ||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||
U.S. Government sponsored agencies | $ | 10,639 | $ | 83 | $ | (13 | ) | $ | 10,709 | |||||||||||||
Mortgage-backed securities-Government sponsored entities | 6,989 | 209 | --- | 7,198 | ||||||||||||||||||
State and political subdivisions | 9,840 | 271 | (14 | ) | 10,097 | |||||||||||||||||
$ | 27,468 | $ | 563 | $ | (27 | ) | $ | 28,004 | ||||||||||||||
Schedule of amortized cost and fair value of available-for-sale securities by contractual maturity | ' | |||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||
Cost | Value | |||||||||||||||||||||
Within one year | $ | 2,145 | $ | 2,148 | ||||||||||||||||||
One to five years | 35,808 | 35,615 | ||||||||||||||||||||
Five to ten years | 8,544 | 8,343 | ||||||||||||||||||||
After ten years | --- | --- | ||||||||||||||||||||
46,497 | 46,106 | |||||||||||||||||||||
Mortgage-backed securities | 16,704 | 16,599 | ||||||||||||||||||||
Totals | $ | 63,201 | $ | 62,705 | ||||||||||||||||||
Schedule of investments' gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities in a continuous unrealized loss position | ' | |||||||||||||||||||||
2013 | ||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||
U.S. Government sponsored agencies | $ | 21,587 | $ | 417 | $ | --- | $ | --- | $ | 21,587 | $ | 417 | ||||||||||
Mortgage-backed securities-Government sponsored entities | 9,781 | 226 | 7 | 1 | 9,788 | 227 | ||||||||||||||||
State and political subdivisions | 9,401 | 198 | --- | --- | 9,401 | 198 | ||||||||||||||||
Total temporarily impaired securities | $ | 40,769 | $ | 841 | $ | 7 | $ | 1 | $ | 40,776 | $ | 842 | ||||||||||
2012 | ||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||
U.S. Government sponsored agencies | $ | 3,076 | $ | 13 | $ | --- | $ | --- | $ | 3,076 | $ | 13 | ||||||||||
State and political subdivisions | 2,541 | 14 | --- | --- | 2,541 | 14 | ||||||||||||||||
Total temporarily impaired securities | $ | 5,617 | $ | 27 | $ | --- | $ | --- | $ | 5,617 | $ | 27 |
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Schedule of categories of loans | ' | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Real Estate | |||||||||||||||||||||||||||||||||||||
One-to-four family residential | $ | 98,061 | $ | 99,216 | |||||||||||||||||||||||||||||||||
Multi-family residential | 49,866 | 62,823 | |||||||||||||||||||||||||||||||||||
Commercial real estate | 72,030 | 82,430 | |||||||||||||||||||||||||||||||||||
Construction and land development | 15,318 | 14,113 | |||||||||||||||||||||||||||||||||||
Commercial | 11,461 | 13,290 | |||||||||||||||||||||||||||||||||||
Consumer and other | 1,160 | 1,131 | |||||||||||||||||||||||||||||||||||
Home equity lines of credit | 16,050 | 16,421 | |||||||||||||||||||||||||||||||||||
Total loans | 263,946 | 289,424 | |||||||||||||||||||||||||||||||||||
Less | |||||||||||||||||||||||||||||||||||||
Net deferred loan fees, premiums and discounts | (408 | ) | (469 | ) | |||||||||||||||||||||||||||||||||
Undisbursed portion of loans | (2,487 | ) | (2,798 | ) | |||||||||||||||||||||||||||||||||
Allowance for loan losses | (6,348 | ) | (5,900 | ) | |||||||||||||||||||||||||||||||||
Net loans | $ | 254,703 | $ | 280,257 | |||||||||||||||||||||||||||||||||
Schedule of allowance for loan losses and recorded investment in loans | ' | ||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans for the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||
2013 | Commercial | Owner | Non-owner | Multi- | Commercial | Construction | Land | Consumer | Total | ||||||||||||||||||||||||||||
Occupied | Occupied | family | Real Estate | and | |||||||||||||||||||||||||||||||||
4-Jan | 4-Jan | Home | |||||||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||||||
Allowance for losses | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 633 | $ | 589 | $ | 1,022 | $ | 1,055 | $ | 2,177 | $ | 62 | $ | 154 | $ | 208 | $ | 5,900 | |||||||||||||||||||
Provision charged to expense | (77 | ) | 236 | 225 | (33 | ) | 278 | (24 | ) | (40 | ) | 85 | 650 | ||||||||||||||||||||||||
Losses charged off | 32 | 73 | 327 | --- | 40 | --- | 10 | 35 | 517 | ||||||||||||||||||||||||||||
Recoveries | 125 | 1 | 125 | 1 | 21 | --- | 42 | --- | 315 | ||||||||||||||||||||||||||||
Ending balance | $ | 649 | $ | 753 | $ | 1,045 | $ | 1,023 | $ | 2,436 | $ | 38 | $ | 146 | $ | 258 | $ | 6,348 | |||||||||||||||||||
ALL individually evaluated | $ | 5 | $ | 13 | $ | 30 | $ | --- | $ | 749 | $ | --- | $ | 1 | $ | --- | $ | 798 | |||||||||||||||||||
ALL collectively evaluated | 644 | 740 | 1,015 | 1,023 | 1,687 | 38 | 145 | 258 | 5,550 | ||||||||||||||||||||||||||||
Total ALL | $ | 649 | $ | 753 | $ | 1,045 | $ | 1,023 | $ | 2,436 | $ | 38 | $ | 146 | 258 | $ | 6,348 | ||||||||||||||||||||
Loans individually evaluated | $ | 1,250 | $ | 921 | $ | 2,820 | $ | 522 | $ | 6,703 | $ | --- | $ | 779 | $ | 90 | $ | 13,085 | |||||||||||||||||||
Loans collectively evaluated | 10,211 | 51,098 | 43,222 | 49,344 | 65,327 | 5,446 | 9,093 | $ | 17,120 | 250,861 | |||||||||||||||||||||||||||
Total loans evaluated | $ | 11,461 | $ | 52,019 | $ | 46,042 | $ | 49,866 | $ | 72,030 | $ | 5,446 | $ | 9,872 | $ | 17,210 | $ | 263,946 | |||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans for the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||
2012 | Commercial | Owner | Non-owner | Multi- | Commercial | Construction | Land | Consumer | Total | ||||||||||||||||||||||||||||
Occupied | Occupied | family | Real Estate | and | |||||||||||||||||||||||||||||||||
4-Jan | 4-Jan | Home | |||||||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||||||
Allowance for losses | |||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 667 | $ | 436 | $ | 1,330 | $ | 646 | $ | 1,788 | $ | 64 | $ | 264 | $ | 136 | $ | 5,331 | |||||||||||||||||||
Provision charged to expense | 421 | 213 | (246 | ) | 667 | 1,156 | (2 | ) | (190 | ) | 81 | 2,100 | |||||||||||||||||||||||||
Losses charged off | 485 | 61 | 83 | 259 | 795 | --- | 16 | 11 | 1,710 | ||||||||||||||||||||||||||||
Recoveries | 30 | 1 | 21 | 1 | 28 | --- | 96 | 2 | 179 | ||||||||||||||||||||||||||||
Ending balance | $ | 633 | $ | 589 | $ | 1,022 | $ | 1,055 | $ | 2,177 | $ | 62 | $ | 154 | $ | 208 | $ | 5,900 | |||||||||||||||||||
ALL individually evaluated | $ | --- | $ | 14 | 27 | $ | 24 | $ | 253 | $ | --- | $ | --- | $ | --- | $ | 318 | ||||||||||||||||||||
ALL collectively evaluated | 633 | 575 | 995 | 1,031 | 1,924 | 62 | 154 | 208 | 5,582 | ||||||||||||||||||||||||||||
Total ALL | $ | 633 | $ | 589 | $ | 1,022 | $ | 1,055 | $ | 2,177 | $ | 62 | $ | 154 | $ | 208 | $ | 5,900 | |||||||||||||||||||
Loans individually evaluated | $ | 49 | $ | 1,653 | $ | 5,917 | $ | 2,891 | $ | 6,233 | $ | --- | $ | 1,379 | $ | 92 | $ | 18,214 | |||||||||||||||||||
Loans collectively evaluated | 13,241 | 46,892 | 44,754 | 59,932 | 76,197 | 8,928 | 3,806 | 17,460 | 271,210 | ||||||||||||||||||||||||||||
Total loans evaluated | $ | 13,290 | $ | 48,545 | $ | 50,671 | $ | 62,823 | $ | 82,430 | $ | 8,928 | $ | 5,185 | $ | 17,552 | $ | 289,424 | |||||||||||||||||||
Schedule of an analysis of loan quality based on property | ' | ||||||||||||||||||||||||||||||||||||
Loan Quality Analysis as of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Credit Rating | Commercial | Owner | Non-owner | Multi- | Commercial | Construction | Land | Consumer | |||||||||||||||||||||||||||||
Occupied | Occupied | Family | Real Estate | and | |||||||||||||||||||||||||||||||||
4-Jan | 4-Jan | Home | Total | ||||||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||||||
1- Superior | $ | 20 | $ | 3,703 | $ | 427 | $ | --- | $ | 98 | $ | --- | $ | 139 | $ | 1,854 | $ | 6,241 | |||||||||||||||||||
2 – Good | 1,528 | 24,965 | 3,307 | 1,755 | 10,784 | 2,393 | 1,752 | 11,419 | 57,903 | ||||||||||||||||||||||||||||
3 - Pass Low risk | 3,872 | 16,321 | 10,896 | 22,131 | 16,340 | 2,806 | 4,552 | 3,274 | 80,192 | ||||||||||||||||||||||||||||
4 – Pass | 3,035 | 5,088 | 22,579 | 19,006 | 23,604 | 247 | 2,239 | 589 | 76,387 | ||||||||||||||||||||||||||||
4W - Watch | 860 | 926 | 4,518 | 5,447 | 12,397 | --- | 85 | 35 | 24,268 | ||||||||||||||||||||||||||||
5 - Special mention | --- | 274 | 1,248 | 1,461 | 343 | --- | 412 | 38 | 3,776 | ||||||||||||||||||||||||||||
6 - Substandard | 2,146 | 742 | 3,067 | 66 | 8,464 | --- | 693 | 1 | 15,179 | ||||||||||||||||||||||||||||
7 - Doubtful | --- | --- | --- | --- | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||
8 – Loss | --- | --- | --- | --- | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||
Total | $ | 11,461 | $ | 52,019 | $ | 46,042 | $ | 49,866 | $ | 72,030 | $ | 5,446 | $ | 9,872 | $ | 17,210 | $ | 263,946 | |||||||||||||||||||
Loan Quality Analysis as of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Credit Rating | Commercial | Owner | Non-owner | Multi- | Commercial | Construction | Land | Consumer | |||||||||||||||||||||||||||||
Occupied | Occupied | Family | Real Estate | and | Total | ||||||||||||||||||||||||||||||||
4-Jan | 4-Jan | Home | |||||||||||||||||||||||||||||||||||
Equity | |||||||||||||||||||||||||||||||||||||
1- Superior | $ | 27 | $ | 3,849 | $ | 246 | $ | --- | $ | 103 | $ | 667 | $ | 193 | $ | 1,787 | $ | 6,872 | |||||||||||||||||||
2 – Good | 3,061 | 20,104 | 4,299 | 7,661 | 10,924 | 1,123 | 172 | 11,311 | 58,655 | ||||||||||||||||||||||||||||
3 - Pass Low risk | 7,982 | 16,459 | 12,625 | 31,281 | 31,853 | 5,383 | 286 | 3,374 | 109,243 | ||||||||||||||||||||||||||||
4 – Pass | 1,689 | 6,221 | 24,623 | 18,010 | 22,993 | 1,755 | 1,387 | 1,078 | 77,756 | ||||||||||||||||||||||||||||
4W - Watch | 186 | 746 | 2,894 | 2,954 | 5,014 | --- | 1,769 | --- | 13,563 | ||||||||||||||||||||||||||||
5 - Special mention | 296 | --- | 2,535 | 2,139 | 4,658 | --- | --- | --- | 9,628 | ||||||||||||||||||||||||||||
6 - Substandard | 49 | 1,166 | 3,449 | 778 | 6,885 | --- | 1,378 | 2 | 13,707 | ||||||||||||||||||||||||||||
7 - Doubtful | --- | --- | --- | --- | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||
8 – Loss | --- | --- | --- | --- | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||
Total | $ | 13,290 | $ | 48,545 | $ | 50,671 | $ | 62,823 | $ | 82,430 | $ | 8,928 | $ | 5,185 | $ | 17,552 | $ | 289,424 | |||||||||||||||||||
Schedule of loan portfolio aging analysis | ' | ||||||||||||||||||||||||||||||||||||
Loan Portfolio Aging Analysis as of December 31, 2013 | |||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | Over 90 Days | Total Past Due | Current | Total Loans | Under 90 Days | Total 90 Days | ||||||||||||||||||||||||||||||
and Not Accruing | and Accruing | ||||||||||||||||||||||||||||||||||||
Commercial | $ | --- | $ | 140 | $ | --- | $ | 140 | $ | 11,321 | $ | 11,461 | $ | --- | $ | --- | |||||||||||||||||||||
Owner occupied 1-4 | 84 | --- | --- | 84 | 51,935 | 52,019 | 553 | --- | |||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 362 | 183 | 1,152 | 1,697 | 44,345 | 46,042 | 554 | --- | |||||||||||||||||||||||||||||
Multi-family | --- | 65 | --- | 65 | 49,801 | 49,866 | 65 | --- | |||||||||||||||||||||||||||||
Commercial real estate | --- | --- | 111 | 111 | 71,919 | 72,030 | 16 | --- | |||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | 5,446 | 5,446 | --- | --- | |||||||||||||||||||||||||||||
Land | 35 | --- | 121 | 156 | 9,716 | 9,872 | --- | --- | |||||||||||||||||||||||||||||
Consumer and home equity | 2 | --- | --- | 2 | 17,208 | 17,210 | --- | --- | |||||||||||||||||||||||||||||
Total | $ | 483 | $ | 388 | $ | 1,384 | $ | 2,255 | $ | 261,691 | $ | 263,946 | $ | 1,188 | $ | --- | |||||||||||||||||||||
Loan Portfolio Aging Analysis as of December 31, 2012 | |||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | Over 90 Days | Total Past Due | Current | Total Loans | Under 90 Days | Total 90 Days | ||||||||||||||||||||||||||||||
and Not Accruing | and Accruing | ||||||||||||||||||||||||||||||||||||
Commercial | $ | --- | $ | --- | $ | 49 | $ | 49 | $ | 13,241 | $ | 13,290 | $ | --- | $ | --- | |||||||||||||||||||||
Owner occupied 1-4 | 184 | 406 | 107 | 697 | 47,848 | 48,545 | 862 | --- | |||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 291 | 216 | 2,124 | 2,631 | 48,040 | 50,671 | 543 | --- | |||||||||||||||||||||||||||||
Multi-family | 700 | 78 | --- | 778 | 62,045 | 62,823 | 76 | --- | |||||||||||||||||||||||||||||
Commercial real estate | --- | --- | 487 | 487 | 81,943 | 82,430 | 815 | --- | |||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | 8,928 | 8,928 | --- | --- | |||||||||||||||||||||||||||||
Land | --- | 79 | 140 | 219 | 4,966 | 5,185 | 1,238 | --- | |||||||||||||||||||||||||||||
Consumer and home equity | 1 | 2 | --- | 3 | 17,549 | 17,552 | 2 | --- | |||||||||||||||||||||||||||||
Total | $ | 1,176 | $ | 781 | $ | 2,907 | $ | 4,864 | $ | 284,560 | $ | 289,424 | $ | 3,536 | $ | --- | |||||||||||||||||||||
Schedule of impaired loans | ' | ||||||||||||||||||||||||||||||||||||
Impaired Loans as of and for the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Specific | Average | Interest | |||||||||||||||||||||||||||||||||
Balance | Principal | Allowance | Impaired | Income | |||||||||||||||||||||||||||||||||
Balance | Loans | Recognized | |||||||||||||||||||||||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | --- | $ | --- | $ | --- | $ | --- | $ | --- | |||||||||||||||||||||||||||
Owner occupied 1-4 | 793 | 922 | --- | 1,089 | 28 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 2,543 | 3,264 | --- | 4,340 | 241 | ||||||||||||||||||||||||||||||||
Multi-family | 522 | 541 | --- | 1,346 | 101 | ||||||||||||||||||||||||||||||||
Commercial real estate | 2,452 | 2,646 | --- | 3,478 | 310 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | 694 | 959 | --- | 719 | --- | ||||||||||||||||||||||||||||||||
Consumer and home equity | 90 | 91 | --- | 100 | 5 | ||||||||||||||||||||||||||||||||
Total loans without a specific valuation allowance | 7,094 | 8,423 | --- | 11,072 | 685 | ||||||||||||||||||||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||||||||||||||||||
Commercial | 1,250 | 1,250 | 5 | 313 | 12 | ||||||||||||||||||||||||||||||||
Owner occupied 1-4 | 128 | 132 | 13 | 128 | 4 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 277 | 277 | 30 | 283 | 2 | ||||||||||||||||||||||||||||||||
Multi-family | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Commercial real estate | 4,251 | 3,769 | 749 | 2,952 | 347 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | 85 | 85 | 1 | 71 | 2 | ||||||||||||||||||||||||||||||||
Consumer and home equity | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Total loans with a specific valuation allowance | 5,991 | 5,513 | 798 | 3,747 | 367 | ||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||
Commercial | 1,250 | 1,250 | 5 | 313 | 12 | ||||||||||||||||||||||||||||||||
Owner occupied 1-4 | 921 | 1,054 | 13 | 1,217 | 32 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 2,820 | 3,541 | 30 | 4,623 | 243 | ||||||||||||||||||||||||||||||||
Multi-family | 522 | 541 | --- | 1,346 | 101 | ||||||||||||||||||||||||||||||||
Commercial real estate | 6,703 | 6,415 | 749 | 6,430 | 657 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | 779 | 1,044 | 1 | 790 | 2 | ||||||||||||||||||||||||||||||||
Consumer and home equity | 90 | 91 | --- | 100 | 5 | ||||||||||||||||||||||||||||||||
Total impaired loans | $ | 13,085 | $ | 13,936 | $ | 798 | $ | 14,819 | $ | 1,052 | |||||||||||||||||||||||||||
Impaired Loans as of and for the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Recorded | Unpaid | Specific | Average | Interest | |||||||||||||||||||||||||||||||||
Balance | Principal | Allowance | Impaired | Income | |||||||||||||||||||||||||||||||||
Balance | Loans | Recognized | |||||||||||||||||||||||||||||||||||
Loans without a specific valuation allowance | |||||||||||||||||||||||||||||||||||||
Commercial | $ | 49 | $ | 521 | $ | --- | $ | 568 | $ | 35 | |||||||||||||||||||||||||||
Owner occupied 1-4 | 1,421 | 1,535 | --- | 1,434 | 65 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 5,636 | 5,990 | --- | 6,485 | 273 | ||||||||||||||||||||||||||||||||
Multi-family | 2,813 | 2,865 | --- | 3,032 | 151 | ||||||||||||||||||||||||||||||||
Commercial real estate | 4,667 | 5,720 | --- | 8,275 | 260 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | 1,379 | 1,615 | --- | 1,566 | 25 | ||||||||||||||||||||||||||||||||
Consumer and home equity | 92 | 114 | --- | 160 | 11 | ||||||||||||||||||||||||||||||||
Total loans without a specific valuation allowance | 16,057 | 18,360 | --- | 21,520 | 820 | ||||||||||||||||||||||||||||||||
Loans with a specific valuation allowance | |||||||||||||||||||||||||||||||||||||
Commercial | --- | --- | --- | 143 | 2 | ||||||||||||||||||||||||||||||||
Owner occupied 1-4 | 232 | 240 | 14 | 160 | 8 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 281 | 281 | 27 | 295 | 1 | ||||||||||||||||||||||||||||||||
Multi-family | 78 | 83 | 24 | 16 | --- | ||||||||||||||||||||||||||||||||
Commercial real estate | 1,566 | 1,567 | 253 | 1,612 | 48 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Consumer and home equity | --- | --- | --- | 1 | 1 | ||||||||||||||||||||||||||||||||
Total loans with a specific valuation allowance | 2,157 | 2,171 | 318 | 2,227 | 60 | ||||||||||||||||||||||||||||||||
Total | |||||||||||||||||||||||||||||||||||||
Commercial | 49 | 521 | --- | 711 | 37 | ||||||||||||||||||||||||||||||||
Owner occupied 1-4 | 1,653 | 1,775 | 14 | 1,594 | 73 | ||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 5,917 | 6,271 | 27 | 6,780 | 274 | ||||||||||||||||||||||||||||||||
Multi-family | 2,891 | 2,948 | 24 | 3,048 | 151 | ||||||||||||||||||||||||||||||||
Commercial real estate | 6,233 | 7,287 | 253 | 9,887 | 308 | ||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | --- | --- | ||||||||||||||||||||||||||||||||
Land | 1,379 | 1,615 | --- | 1,566 | 25 | ||||||||||||||||||||||||||||||||
Consumer and home equity | 92 | 114 | --- | 161 | 12 | ||||||||||||||||||||||||||||||||
Total impaired loans | $ | 18,214 | $ | 20,531 | $ | 318 | $ | 23,747 | $ | 880 | |||||||||||||||||||||||||||
Schedule of breakdown of non-accruing loans | ' | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Commercial | $ | --- | $ | 49 | |||||||||||||||||||||||||||||||||
Owner occupied 1-4 | 553 | 969 | |||||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 1,706 | 2,667 | |||||||||||||||||||||||||||||||||||
Multi-family | 66 | 76 | |||||||||||||||||||||||||||||||||||
Commercial real estate | 126 | 1,302 | |||||||||||||||||||||||||||||||||||
Land | 121 | 1,378 | |||||||||||||||||||||||||||||||||||
Consumer and home equity | --- | 2 | |||||||||||||||||||||||||||||||||||
Total | $ | 2,572 | $ | 6,443 | |||||||||||||||||||||||||||||||||
Schedule of troubled debt restructurings | ' | ||||||||||||||||||||||||||||||||||||
Troubled Debt Restructurings for Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | Type of Modification | ||||||||||||||||||||||||||||||||||
of Loans | Recorded Balance | Recorded Balance | |||||||||||||||||||||||||||||||||||
Commercial | 1 | $ | 1,250 | $ | 1,250 | Term | |||||||||||||||||||||||||||||||
Owner occupied 1-4 | 1 | 38 | 38 | Below market rate | |||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | 7 | 1,519 | 1,246 | A/B loan, payment adjustment, term | |||||||||||||||||||||||||||||||||
Multi-family | 1 | 35 | 35 | Rate | |||||||||||||||||||||||||||||||||
Commercial Real Estate | 2 | 1,274 | 1,256 | Rate, term | |||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Land | 1 | 95 | 95 | Rate, term | |||||||||||||||||||||||||||||||||
Consumer and home equity | 1 | 29 | 29 | Term | |||||||||||||||||||||||||||||||||
Total | 14 | $ | 4,240 | $ | 3,949 | ||||||||||||||||||||||||||||||||
Troubled Debt Restructurings for Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||
Number | Pre-Modification | Post-Modification | |||||||||||||||||||||||||||||||||||
of Loans | Recorded Balance | Recorded Balance | Type of Modification | ||||||||||||||||||||||||||||||||||
Commercial | 1 | $ | 245 | $ | 245 | Term | |||||||||||||||||||||||||||||||
Owner occupied 1-4 | 3 | 239 | 239 | Rate, high loan-to-value | |||||||||||||||||||||||||||||||||
Non-owner occupied 1-4 | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Multi-family | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Commercial Real Estate | 2 | 1,889 | 1,430 | A/B loan, payment adjustment | |||||||||||||||||||||||||||||||||
Construction | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Land | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Consumer and home equity | --- | --- | --- | ||||||||||||||||||||||||||||||||||
Total | 6 | $ | 2,373 | $ | 1,914 |
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Schedule of premises and equipment | ' | ||||||||
2013 | 2012 | ||||||||
Land | $ | 1,681 | $ | 1,681 | |||||
Buildings and improvements | 8,552 | 7,569 | |||||||
Equipment | 3,811 | 3,493 | |||||||
14,044 | 12,743 | ||||||||
Less accumulated depreciation | (6,111 | ) | (5,674 | ) | |||||
Net premises and equipment | $ | 7,933 | $ | 7,069 |
Loan_Servicing_Tables
Loan Servicing (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Loan Servicing [Abstract] | ' | ||||||||
Schedule of mortgage servicing rights measured using amortization method | ' | ||||||||
2013 | 2012 | ||||||||
Mortgage servicing rights | |||||||||
Balance, beginning of year | $ | 983 | $ | 962 | |||||
Additions | 277 | 419 | |||||||
Amortization of servicing rights | (173 | ) | (398 | ) | |||||
Balance, end of year | $ | 1,087 | $ | 983 | |||||
2013 | 2012 | ||||||||
Fair value, beginning of period | $ | 1,184 | $ | 983 | |||||
Fair value, end of period | 1,513 | 1,184 |
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Deposits [Abstract] | ' | ||||||||||||||||
Schedule of deposits | ' | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Amount | Percent | Amount | Percent | ||||||||||||||
Non-interest-bearing deposits | $ | 33,488 | 10.64 | % | $ | 30,879 | 10 | % | |||||||||
NOW accounts | 120,752 | 38.38 | 107,859 | 34.95 | |||||||||||||
Savings accounts | 30,866 | 9.81 | 28,966 | 9.39 | |||||||||||||
185,106 | 58.83 | 167,704 | 54.34 | ||||||||||||||
Certificates of deposit | |||||||||||||||||
0.00% to 1.99% | 94,948 | 30.18 | 94,506 | 30.62 | |||||||||||||
2.00% to 3.99% | 33,367 | 10.61 | 42,802 | 13.87 | |||||||||||||
4.00% to 5.99% | 1,199 | 0.38 | 3,620 | 1.17 | |||||||||||||
6.00% to 7.99% | --- | --- | 5 | --- | |||||||||||||
129,514 | 41.17 | 140,933 | 45.66 | ||||||||||||||
$ | 314,620 | 100 | % | $ | 308,637 | 100 | % | ||||||||||
Scheduled of maturities of certificates of deposit | ' | ||||||||||||||||
2014 | $ | 77,716 | |||||||||||||||
2015 | 30,829 | ||||||||||||||||
2016 | 9,249 | ||||||||||||||||
2017 | 5,805 | ||||||||||||||||
2018 | 5,915 | ||||||||||||||||
$ | 129,514 |
Federal_Home_Loan_Bank_Advance1
Federal Home Loan Bank Advances (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Advances From Federal Home Loan Banks [Abstract] | ' | |||
Schedule of aggregate annual maturities of advances | ' | |||
2014 | $ | --- | ||
2015 | 3,000 | |||
2016 | 7,000 | |||
2017 | --- | |||
$ | 10,000 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Schedule of provision for income taxes | ' | ||||||||
2013 | 2012 | ||||||||
Taxes currently payable | $ | 1,683 | $ | 1,774 | |||||
Deferred income taxes | (227 | ) | (242 | ) | |||||
Income tax expense | $ | 1,456 | $ | 1,532 | |||||
Schedule of reconciliation of income tax expense at the statutory rate | ' | ||||||||
2013 | 2012 | ||||||||
Computed at the statutory rate (34%) | $ | 1,358 | $ | 1,425 | |||||
Increase (decrease) resulting from | |||||||||
Tax exempt interest | (67 | ) | (51 | ) | |||||
State income taxes | 193 | 195 | |||||||
Other | (28 | ) | (37 | ) | |||||
Actual tax expense | $ | 1,456 | $ | 1,532 | |||||
Schedule of tax effects of temporary differences related to deferred taxes | ' | ||||||||
2013 | 2012 | ||||||||
Deferred tax assets | |||||||||
Allowance for loan losses | $ | 2,632 | $ | 2,382 | |||||
Non-accrual loan income | 342 | 350 | |||||||
Unrealized gain on available-for-sale securities | 196 | --- | |||||||
Other | 359 | 344 | |||||||
3,529 | 3,076 | ||||||||
Deferred tax liabilities | |||||||||
Depreciation | 287 | 265 | |||||||
Mortgage servicing rights | 459 | 416 | |||||||
FHLB stock dividends | 131 | 132 | |||||||
Unrealized loss on available-for-sale securities | --- | 212 | |||||||
Other | 320 | 357 | |||||||
1,197 | 1,382 | ||||||||
Net deferred tax asset | $ | 2,332 | $ | 1,694 |
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Regulatory Capital Requirements Under Banking Regulations [Abstract] | ' | |||||||||||||||||||
Schedule of capital amounts and ratios of LSB Financial Corp | ' | |||||||||||||||||||
Actual | For Capital Adequacy | To Be Well Capitalized Under Prompt Corrective | ||||||||||||||||||
Purposes | Action Provisions | |||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||
Total risk-based capital | $ | 43,604 | 17.4 | % | $ | 20,054 | 8 | % | $ | 25,067 | 10 | % | ||||||||
(to risk-weighted assets) | ||||||||||||||||||||
Tier I capital | 40,431 | 16.1 | 10,027 | 4 | 15,040 | 6 | ||||||||||||||
(to risk-weighted assets) | ||||||||||||||||||||
Tier I capital | 40,431 | 11 | 11,048 | 3 | 18,413 | 5 | ||||||||||||||
(to adjusted total assets) | ||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||
Total risk-based capital | $ | 41,400 | 16 | % | $ | 20,694 | 8 | % | $ | 25,868 | 10 | % | ||||||||
(to risk-weighted assets) | ||||||||||||||||||||
Tier I capital | 38,134 | 14.7 | 10,347 | 4 | 15,521 | 6 | ||||||||||||||
(to risk-weighted assets) | ||||||||||||||||||||
Tier I capital | 38,134 | 10.5 | 10,928 | 3 | 18,213 | 5 | ||||||||||||||
(to adjusted total assets) |
Employee_Benefits_Tables
Employee Benefits (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Compensation and Employee Benefit Plans [Abstract] | ' | ||||||
Schedule of ESOP expense | ' | ||||||
2013 | 2012 | ||||||
ESOP shares allocated | 78,334 | 95,680 |
Stock_Option_Plans_Tables
Stock Option Plans (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | ||||||||||
Schedule of activity in the stock option plan | ' | ||||||||||
2013 | |||||||||||
Shares | Weighted-Average Exercise Price | Weighted-Average | Aggregate Intrinsic Value | ||||||||
Remaining Contractual Term | |||||||||||
Outstanding, beginning of year | 64,183 | $ | 18.58 | ||||||||
Granted | 0 | ||||||||||
Exercised | (8,866 | ) | 20.83 | ||||||||
Forfeited | (12,392 | ) | 18.68 | ||||||||
Outstanding, end of year | 42,925 | $ | 18.36 | 6.27 years | $ | 131 | |||||
Exercisable, end of year | 18,722 | $ | 20.12 | 2.48 years | $ | 70 |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Schedule of computation of earnings per share | ' | ||||||||||||
Year Ended December 31, 2013 | |||||||||||||
Income | Weighted- | Per Share Amount | |||||||||||
Average | |||||||||||||
Shares | |||||||||||||
Net income | $ | 2,538 | 1,558,729 | ||||||||||
Basic earnings per share | |||||||||||||
Income available to common stockholders | $ | 1.63 | |||||||||||
Effect of dilutive securities | |||||||||||||
Stock options | 6,867 | ||||||||||||
Diluted earnings per share | |||||||||||||
Income available to common stockholders and assumed conversions | $ | 2,538 | 1,565,596 | $ | 1.62 | ||||||||
Year Ended December 31, 2012 | |||||||||||||
Income | Weighted- | Per Share Amount | |||||||||||
Average | |||||||||||||
Shares | |||||||||||||
Net income | $ | 2,659 | 1,555,810 | ||||||||||
Basic earnings per share | |||||||||||||
Income available to common stockholders | $ | 1.71 | |||||||||||
Effect of dilutive securities | |||||||||||||
Stock options | 5,685 | ||||||||||||
Diluted earnings per share | |||||||||||||
Income available to common stockholders and assumed conversions | $ | 2,659 | 1,561,495 | $ | 1.7 |
Disclosures_About_Fair_Value_o1
Disclosures About Fair Value of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of assets measured at fair value on a recurring basis | ' | ||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
31-Dec-13 | |||||||||||||||||
Available-for-sale securities | |||||||||||||||||
U.S. government-sponsored agencies | $ | 28,604 | $ | --- | $ | 28,604 | $ | --- | |||||||||
Mortgage-backed securities | 16,599 | --- | 16,599 | --- | |||||||||||||
Corporate bonds | 1,063 | --- | 1,063 | --- | |||||||||||||
State and political subdivision securities | 16,439 | --- | 16,439 | --- | |||||||||||||
Totals | $ | 62,705 | $ | --- | $ | 62,705 | $ | --- | |||||||||
31-Dec-12 | |||||||||||||||||
Available-for-sale securities | |||||||||||||||||
U.S. government-sponsored agencies | $ | 10,709 | $ | --- | $ | 10,709 | $ | --- | |||||||||
Mortgage-backed securities | 7,198 | --- | 7,198 | --- | |||||||||||||
State and political subdivision securities | 10,097 | --- | 10,097 | --- | |||||||||||||
Totals | $ | 28,004 | $ | --- | $ | 28,004 | $ | --- | |||||||||
Schedule of assets measured at fair value on nonrecurring basis | ' | ||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Fair Value | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Collateral-dependent impaired loans | |||||||||||||||||
31-Dec-13 | $ | 3,637 | $ | --- | $ | --- | $ | 3,637 | |||||||||
31-Dec-12 | $ | 527 | $ | --- | $ | --- | $ | 527 | |||||||||
Schedule of quantitative information of unobservable inputs used in nonrecurring Level 3 fair value measurements | ' | ||||||||||||||||
Value at 12/31/2013 | Valuation Technique | Unobservable Inputs | Range (Weighted Average) | ||||||||||||||
Collateral-dependent impaired loans | $3,637 | Market comparable properties | Marketability discount | 10%-20% | |||||||||||||
Value at 12/31/2012 | Valuation Technique | Unobservable Inputs | Range (Weighted Average) | ||||||||||||||
Collateral-dependent impaired loans | $ 527 | Market comparable properties | Marketability discount | 10% | |||||||||||||
Schedule of estimated fair values of financial instruments | ' | ||||||||||||||||
Fair Value Measurements Using | |||||||||||||||||
Carrying Amount | Quoted Prices in Active Markets for Identical Assets | Significant Other Observable Inputs | Significant Unobservable Inputs | ||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
December 31, 2013: | |||||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 24,198 | $ | 24,198 | $ | --- | $ | --- | |||||||||
Interest bearing time deposits | 1,743 | --- | 1,743 | --- | |||||||||||||
Loans held for sale | 657 | --- | 657 | --- | |||||||||||||
Loans, net of allowance for losses | 254,703 | --- | --- | 265,715 | |||||||||||||
Federal Home Loan Bank stock | 3,185 | --- | 3,185 | --- | |||||||||||||
Mortgage servicing rights | 1,087 | --- | --- | 1,513 | |||||||||||||
Accrued interest receivable | 1,114 | --- | 1,114 | --- | |||||||||||||
Financial liabilities | |||||||||||||||||
Transaction and savings deposits | 185,106 | 185,106 | --- | --- | |||||||||||||
Time Deposits | 129,514 | --- | --- | 130,892 | |||||||||||||
Federal Home Loan Bank advances | 10,000 | --- | 10,289 | --- | |||||||||||||
Accrued interest payable | 34 | --- | 34 | --- | |||||||||||||
December 31, 2012: | |||||||||||||||||
Financial assets | |||||||||||||||||
Cash and cash equivalents | $ | 31,421 | $ | 31,421 | $ | --- | $ | --- | |||||||||
Interest bearing time deposits | 1,740 | --- | 1,740 | --- | |||||||||||||
Loans held for sale | 1,363 | --- | 1,363 | --- | |||||||||||||
Loans, net of allowance for losses | 280,257 | --- | --- | 299,010 | |||||||||||||
Federal Home Loan Bank stock | 3,185 | --- | 3,185 | --- | |||||||||||||
Mortgage servicing rights | 983 | --- | --- | 1,184 | |||||||||||||
Accrued interest receivable | 1,133 | --- | 1,133 | --- | |||||||||||||
Financial liabilities | |||||||||||||||||
Transaction and savings deposits | 167,704 | 167,704 | --- | --- | |||||||||||||
Time Deposits | 140,933 | --- | --- | 143,181 | |||||||||||||
Federal Home Loan Bank advances | 15,000 | --- | 15,515 | --- | |||||||||||||
Accrued interest payable | 40 | --- | 40 | --- |
Commitments_and_Contingent_Lia1
Commitments and Contingent Liabilities (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||
Schedule of summary of financial instruments | ' | ||||||||
2013 | 2012 | ||||||||
Commitments to extend credit | |||||||||
Fixed rate | $ | 5,592 | $ | 9,062 | |||||
Variable rate | --- | 227 | |||||||
Unused portions of lines of credit | 23,956 | 26,968 | |||||||
Letters of credit | 144 | 49 |
Condensed_Financial_Informatio1
Condensed Financial Information (Parent Company Only) (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||
Schedule of condensed balance sheets | ' | ||||||||
Condensed Balance Sheets | |||||||||
31-Dec | |||||||||
2013 | 2012 | ||||||||
Assets | |||||||||
Cash | $ | 339 | $ | 223 | |||||
Securities available-for-sale | --- | 110 | |||||||
Investment in the Bank | 40,245 | 38,556 | |||||||
Other assets | 143 | 66 | |||||||
Total assets | $ | 40,727 | $ | 38,955 | |||||
Liabilities | $ | --- | $ | --- | |||||
Stockholders’ Equity | 40,727 | 38,955 | |||||||
Total liabilities and stockholders’ equity | $ | 40,727 | $ | 38,955 | |||||
Schedule of condensed statements of income and comprehensive income | ' | ||||||||
Condensed Statements of Income and Comprehensive Income | |||||||||
Years Ending December 31 | |||||||||
2013 | 2012 | ||||||||
Income | |||||||||
Dividends from the Bank | $ | 400 | $ | 155 | |||||
Other income | --- | 7 | |||||||
Total income | 400 | 162 | |||||||
Expenses | (216 | ) | (211 | ) | |||||
Income (Loss) Before Income Tax and Equity in Undistributed Net Income (Loss) of Bank Subsidiary | 184 | (49 | ) | ||||||
Income Tax Benefit | 85 | 82 | |||||||
Income Before Equity in Undistributed Income of Bank Subsidiary | 269 | 33 | |||||||
Equity in Undistributed Income of Bank Subsidiary | 2,269 | 2,626 | |||||||
Net Income | $ | 2,538 | $ | 2,659 | |||||
Comprehensive Income | $ | 1,920 | $ | 2,747 | |||||
Schedule of condensed statements of cash flows | ' | ||||||||
Condensed Statements of Cash Flows | |||||||||
Years Ending December 31 | |||||||||
2013 | 2012 | ||||||||
Operating Activities | |||||||||
Net income | $ | 2,538 | $ | 2,659 | |||||
Equity in undistributed income of the Bank | (2,269 | ) | (2,626 | ) | |||||
Change in other assets | (76 | ) | 15 | ||||||
Net cash provided by operating activities | 193 | 48 | |||||||
Investing Activity - proceeds from paydowns of securities | 110 | 18 | |||||||
Financing Activity | |||||||||
Dividends paid | (374 | ) | (77 | ) | |||||
Stock options exercised | 184 | 7 | |||||||
Tax benefit of stock options exercised | 3 | 2 | |||||||
Net cash used in financing activities | (187 | ) | (68 | ) | |||||
Net Change in Cash | 116 | (2 | ) | ||||||
Cash at Beginning of Year | 223 | 225 | |||||||
Cash at End of Year | $ | 339 | $ | 223 |
Nature_of_Operations_and_Summa2
Nature of Operations and Summary of Significant Accounting Policies (Detail Textuals) | 12 Months Ended |
Dec. 31, 2013 | |
Segment | |
Business Description and Accounting Policies [Abstract] | ' |
Property, plant and equipment, depreciation methods | 'Straight-line and accelerated methods |
Property, plant and equipment, estimated useful lives | '3 to 39 years |
Number of reportable operating segments | 1 |
Restriction_on_Cash_and_Due_Fr1
Restriction on Cash and Due From Banks (Detail Textuals) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Restriction On Cash And Due From Banks [Line Items] | ' |
Reserve funds in cash or on deposit with Federal Reserve Bank | $2 |
Federal Reserve Bank Of Chicago | ' |
Restriction On Cash And Due From Banks [Line Items] | ' |
Additional cash held by federal reserve bank | 17.9 |
Federal Reserve Bank Of Indianapolis | ' |
Restriction On Cash And Due From Banks [Line Items] | ' |
Additional cash held by federal reserve bank | $1.80 |
Securities_Amortized_cost_and_
Securities - Amortized cost and approximate fair values, together with gross unrealized gains and losses (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities: | ' | ' |
Amortized Cost | $63,201 | $27,468 |
Gross Unrealized Gains | 346 | 563 |
Gross Unrealized Losses | -842 | -27 |
Approximate Fair Value | 62,705 | 28,004 |
U.S. Government sponsored agencies | ' | ' |
Available-for-sale Securities: | ' | ' |
Amortized Cost | 28,982 | 10,639 |
Gross Unrealized Gains | 39 | 83 |
Gross Unrealized Losses | -417 | -13 |
Approximate Fair Value | 28,604 | 10,709 |
Mortgage-backed securities-Government sponsored entities | ' | ' |
Available-for-sale Securities: | ' | ' |
Amortized Cost | 16,704 | 6,989 |
Gross Unrealized Gains | 122 | 209 |
Gross Unrealized Losses | -227 | ' |
Approximate Fair Value | 16,599 | 7,198 |
Corporate bonds | ' | ' |
Available-for-sale Securities: | ' | ' |
Amortized Cost | 1,050 | ' |
Gross Unrealized Gains | 13 | ' |
Gross Unrealized Losses | ' | ' |
Approximate Fair Value | 1,063 | ' |
State and political subdivisions | ' | ' |
Available-for-sale Securities: | ' | ' |
Amortized Cost | 16,465 | 9,840 |
Gross Unrealized Gains | 172 | 271 |
Gross Unrealized Losses | -198 | -14 |
Approximate Fair Value | $16,439 | $10,097 |
Securities_Amortized_cost_and_1
Securities - Amortized cost and fair value of available-for-sale securities by contractual maturity (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities, Debt Maturities [Abstract] | ' | ' |
Amortized cost within one year | $2,145 | ' |
Amortized cost one to five years | 35,808 | ' |
Amortized cost five to ten years | 8,544 | ' |
Amortized cost after ten years | ' | ' |
Available for sale securities having debt maturities amortized cost | 46,497 | ' |
Amortized cost mortgage-backed securities | 16,704 | ' |
Available for sale securities amortized cost, Total | 63,201 | ' |
Fair value within one year | 2,148 | ' |
Fair value one to five years | 35,615 | ' |
Fair value five to ten years | 8,343 | ' |
Fair value after ten years | ' | ' |
Available for sale securities having debt securities fair value | 46,106 | ' |
Available for sale securities fair value mortgage-backed securities | 16,599 | ' |
Approximate Fair Value | $62,705 | $28,004 |
Securities_Gross_unrealized_lo
Securities - Gross unrealized losses and fair value, aggregated by investment category (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less Than 12 Months Fair Value | $40,769 | $5,617 |
Less Than 12 Months Unrealized Losses | 841 | 27 |
12 Months or More Fair Value | 7 | ' |
12 Months or More Unrealized Losses | 1 | ' |
Total Fair Value | 40,776 | 5,617 |
Total Unrealized Losses | 842 | 27 |
U.S. Government sponsored agencies | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less Than 12 Months Fair Value | 21,587 | 3,076 |
Less Than 12 Months Unrealized Losses | 417 | 13 |
12 Months or More Fair Value | ' | ' |
12 Months or More Unrealized Losses | ' | ' |
Total Fair Value | 21,587 | 3,076 |
Total Unrealized Losses | 417 | 13 |
Mortgage-backed securities-Government sponsored entities | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less Than 12 Months Fair Value | 9,781 | ' |
Less Than 12 Months Unrealized Losses | 226 | ' |
12 Months or More Fair Value | 7 | ' |
12 Months or More Unrealized Losses | 1 | ' |
Total Fair Value | 9,788 | ' |
Total Unrealized Losses | 227 | ' |
State and political subdivisions securities | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ' | ' |
Less Than 12 Months Fair Value | 9,401 | 2,541 |
Less Than 12 Months Unrealized Losses | 198 | 14 |
12 Months or More Fair Value | ' | ' |
12 Months or More Unrealized Losses | ' | ' |
Total Fair Value | 9,401 | 2,541 |
Total Unrealized Losses | $198 | $14 |
Securities_Detail_Textuals
Securities (Detail Textuals) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Carrying value of securities pledged as collateral | $1,800,000 | $2,000,000 |
Fair value of debt securities | $40,776,000 | $5,617,000 |
Percentage of debt securities in available-for-sale investment portfolio | 65.00% | 20.00% |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses - Categories of loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Real Estate | ' | ' | ' |
Allowance for loan losses | ($6,348) | ($5,900) | ' |
Net loans | 254,703 | 280,257 | ' |
Loans Receivable | ' | ' | ' |
Real Estate | ' | ' | ' |
One-to-four family residential | 98,061 | 99,216 | ' |
Multi-family residential | 49,866 | 62,823 | ' |
Commercial real estate | 72,030 | 82,430 | ' |
Construction and land development | 15,318 | 14,113 | ' |
Commercial | 11,461 | 13,290 | ' |
Consumer and other | 1,160 | 1,131 | ' |
Home equity lines of credit | 16,050 | 16,421 | ' |
Total loans | 263,946 | 289,424 | ' |
Net deferred loan fees, premiums and discounts | -408 | -469 | ' |
Undisbursed portion of loans | -2,487 | -2,798 | ' |
Allowance for loan losses | -6,348 | -5,900 | -5,331 |
Net loans | $254,703 | $280,257 | ' |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses - Allocation of loan loss reserves by loan category (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for losses | ' | ' |
Ending balance | $6,348 | $5,900 |
Financing receivable, allowance for credit loss, additional information: | ' | ' |
Total ALL | 6,348 | 5,900 |
Loans Receivable | ' | ' |
Allowance for losses | ' | ' |
Beginning balance | 5,900 | 5,331 |
Provision charged to expense | 650 | 2,100 |
Losses charged off | 517 | 1,710 |
Recoveries | 315 | 179 |
Ending balance | 6,348 | 5,900 |
Financing receivable, allowance for credit loss, additional information: | ' | ' |
ALL individually evaluated | 798 | 318 |
ALL collectively evaluated | 5,550 | 5,582 |
Total ALL | 6,348 | 5,900 |
Loans individually evaluated | 13,085 | 18,214 |
Loans collectively evaluated | 250,861 | 271,210 |
Total loans | 263,946 | 289,424 |
Loans Receivable | Commercial | ' | ' |
Allowance for losses | ' | ' |
Beginning balance | 633 | 667 |
Provision charged to expense | -77 | 421 |
Losses charged off | 32 | 485 |
Recoveries | 125 | 30 |
Ending balance | 649 | 633 |
Financing receivable, allowance for credit loss, additional information: | ' | ' |
ALL individually evaluated | 5 | ' |
ALL collectively evaluated | 644 | 633 |
Total ALL | 649 | 633 |
Loans individually evaluated | 1,250 | 49 |
Loans collectively evaluated | 10,211 | 13,241 |
Total loans | 11,461 | 13,290 |
Loans Receivable | Owner Occupied 1-4 | ' | ' |
Allowance for losses | ' | ' |
Beginning balance | 589 | 436 |
Provision charged to expense | 236 | 213 |
Losses charged off | 73 | 61 |
Recoveries | 1 | 1 |
Ending balance | 753 | 589 |
Financing receivable, allowance for credit loss, additional information: | ' | ' |
ALL individually evaluated | 13 | 14 |
ALL collectively evaluated | 740 | 575 |
Total ALL | 753 | 589 |
Loans individually evaluated | 921 | 1,653 |
Loans collectively evaluated | 51,098 | 46,892 |
Total loans | 52,019 | 48,545 |
Loans Receivable | Non-owner Occupied 1-4 | ' | ' |
Allowance for losses | ' | ' |
Beginning balance | 1,022 | 1,330 |
Provision charged to expense | 225 | -246 |
Losses charged off | 327 | 83 |
Recoveries | 125 | 21 |
Ending balance | 1,045 | 1,022 |
Financing receivable, allowance for credit loss, additional information: | ' | ' |
ALL individually evaluated | 30 | 27 |
ALL collectively evaluated | 1,015 | 995 |
Total ALL | 1,045 | 1,022 |
Loans individually evaluated | 2,820 | 5,917 |
Loans collectively evaluated | 43,222 | 44,754 |
Total loans | 46,042 | 50,671 |
Loans Receivable | Multi-family | ' | ' |
Allowance for losses | ' | ' |
Beginning balance | 1,055 | 646 |
Provision charged to expense | -33 | 667 |
Losses charged off | ' | 259 |
Recoveries | 1 | 1 |
Ending balance | 1,023 | 1,055 |
Financing receivable, allowance for credit loss, additional information: | ' | ' |
ALL individually evaluated | ' | 24 |
ALL collectively evaluated | 1,023 | 1,031 |
Total ALL | 1,023 | 1,055 |
Loans individually evaluated | 522 | 2,891 |
Loans collectively evaluated | 49,344 | 59,932 |
Total loans | 49,866 | 62,823 |
Loans Receivable | Commercial Real Estate | ' | ' |
Allowance for losses | ' | ' |
Beginning balance | 2,177 | 1,788 |
Provision charged to expense | 278 | 1,156 |
Losses charged off | 40 | 795 |
Recoveries | 21 | 28 |
Ending balance | 2,436 | 2,177 |
Financing receivable, allowance for credit loss, additional information: | ' | ' |
ALL individually evaluated | 749 | 253 |
ALL collectively evaluated | 1,687 | 1,924 |
Total ALL | 2,436 | 2,177 |
Loans individually evaluated | 6,703 | 6,233 |
Loans collectively evaluated | 65,327 | 76,197 |
Total loans | 72,030 | 82,430 |
Loans Receivable | Construction | ' | ' |
Allowance for losses | ' | ' |
Beginning balance | 62 | 64 |
Provision charged to expense | -24 | -2 |
Losses charged off | ' | ' |
Recoveries | ' | ' |
Ending balance | 38 | 62 |
Financing receivable, allowance for credit loss, additional information: | ' | ' |
ALL individually evaluated | ' | ' |
ALL collectively evaluated | 38 | 62 |
Total ALL | 38 | 62 |
Loans individually evaluated | ' | ' |
Loans collectively evaluated | 5,446 | 8,928 |
Total loans | 5,446 | 8,928 |
Loans Receivable | Land | ' | ' |
Allowance for losses | ' | ' |
Beginning balance | 154 | 264 |
Provision charged to expense | -40 | -190 |
Losses charged off | 10 | 16 |
Recoveries | 42 | 96 |
Ending balance | 146 | 154 |
Financing receivable, allowance for credit loss, additional information: | ' | ' |
ALL individually evaluated | 1 | ' |
ALL collectively evaluated | 145 | 154 |
Total ALL | 146 | 154 |
Loans individually evaluated | 779 | 1,379 |
Loans collectively evaluated | 9,093 | 3,806 |
Total loans | 9,872 | 5,185 |
Loans Receivable | Consumer and Home Equity | ' | ' |
Allowance for losses | ' | ' |
Beginning balance | 208 | 136 |
Provision charged to expense | 85 | 81 |
Losses charged off | 35 | 11 |
Recoveries | ' | 2 |
Ending balance | 258 | 208 |
Financing receivable, allowance for credit loss, additional information: | ' | ' |
ALL individually evaluated | ' | ' |
ALL collectively evaluated | 258 | 208 |
Total ALL | 258 | 208 |
Loans individually evaluated | 90 | 92 |
Loans collectively evaluated | 17,120 | 17,460 |
Total loans | $17,210 | $17,552 |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses - Analysis of loan quality (Details 2) (Loans Receivable, USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | $263,946 | $289,424 |
Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 11,461 | 13,290 |
Owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 52,019 | 48,545 |
Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 46,042 | 50,671 |
Multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 49,866 | 62,823 |
Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 72,030 | 82,430 |
Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 5,446 | 8,928 |
Land | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 9,872 | 5,185 |
Consumer and Home Equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 17,210 | 17,552 |
Superior | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 6,241 | 6,872 |
Superior | Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 20 | 27 |
Superior | Owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 3,703 | 3,849 |
Superior | Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 427 | 246 |
Superior | Multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Superior | Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 98 | 103 |
Superior | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | 667 |
Superior | Land | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 139 | 193 |
Superior | Consumer and Home Equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 1,854 | 1,787 |
Good | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 57,903 | 58,655 |
Good | Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 1,528 | 3,061 |
Good | Owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 24,965 | 20,104 |
Good | Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 3,307 | 4,299 |
Good | Multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 1,755 | 7,661 |
Good | Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 10,784 | 10,924 |
Good | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 2,393 | 1,123 |
Good | Land | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 1,752 | 172 |
Good | Consumer and Home Equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 11,419 | 11,311 |
Pass Low risk | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 80,192 | 109,243 |
Pass Low risk | Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 3,872 | 7,982 |
Pass Low risk | Owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 16,321 | 16,459 |
Pass Low risk | Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 10,896 | 12,625 |
Pass Low risk | Multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 22,131 | 31,281 |
Pass Low risk | Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 16,340 | 31,853 |
Pass Low risk | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 2,806 | 5,383 |
Pass Low risk | Land | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 4,552 | 286 |
Pass Low risk | Consumer and Home Equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 3,274 | 3,374 |
Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 76,387 | 77,756 |
Pass | Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 3,035 | 1,689 |
Pass | Owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 5,088 | 6,221 |
Pass | Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 22,579 | 24,623 |
Pass | Multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 19,006 | 18,010 |
Pass | Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 23,604 | 22,993 |
Pass | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 247 | 1,755 |
Pass | Land | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 2,239 | 1,387 |
Pass | Consumer and Home Equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 589 | 1,078 |
Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 24,268 | 13,563 |
Watch | Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 860 | 186 |
Watch | Owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 926 | 746 |
Watch | Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 4,518 | 2,894 |
Watch | Multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 5,447 | 2,954 |
Watch | Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 12,397 | 5,014 |
Watch | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Watch | Land | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 85 | 1,769 |
Watch | Consumer and Home Equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 35 | ' |
Special mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 3,776 | 9,628 |
Special mention | Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | 296 |
Special mention | Owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 274 | ' |
Special mention | Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 1,248 | 2,535 |
Special mention | Multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 1,461 | 2,139 |
Special mention | Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 343 | 4,658 |
Special mention | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Special mention | Land | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 412 | ' |
Special mention | Consumer and Home Equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 38 | ' |
Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 15,179 | 13,707 |
Substandard | Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 2,146 | 49 |
Substandard | Owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 742 | 1,166 |
Substandard | Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 3,067 | 3,449 |
Substandard | Multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 66 | 778 |
Substandard | Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 8,464 | 6,885 |
Substandard | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Substandard | Land | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 693 | 1,378 |
Substandard | Consumer and Home Equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | 1 | 2 |
Doubtful | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Doubtful | Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Doubtful | Owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Doubtful | Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Doubtful | Multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Doubtful | Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Doubtful | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Doubtful | Land | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Doubtful | Consumer and Home Equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Loss | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Loss | Commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Loss | Owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Loss | Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Loss | Multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Loss | Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Loss | Construction | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Loss | Land | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Loss | Consumer and Home Equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total loans evaluated | ' | ' |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses - Analysis of past due loans segregated by loan type (Details 3) (Loans Receivable, USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past due loans 30-59 Days | $483 | $1,176 |
Past due loans 60-89 Days | 388 | 781 |
Past due loans Over 90 Days | 1,384 | 2,907 |
Total Past Due | 2,255 | 4,864 |
Current | 261,691 | 284,560 |
Total loans | 263,946 | 289,424 |
Under 90 Days and Not Accruing | 1,188 | 3,536 |
Total 90 Days and Accruing | ' | ' |
Commercial | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past due loans 30-59 Days | ' | ' |
Past due loans 60-89 Days | 140 | ' |
Past due loans Over 90 Days | ' | 49 |
Total Past Due | 140 | 49 |
Current | 11,321 | 13,241 |
Total loans | 11,461 | 13,290 |
Under 90 Days and Not Accruing | ' | ' |
Total 90 Days and Accruing | ' | ' |
Owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past due loans 30-59 Days | 84 | 184 |
Past due loans 60-89 Days | ' | 406 |
Past due loans Over 90 Days | ' | 107 |
Total Past Due | 84 | 697 |
Current | 51,935 | 47,848 |
Total loans | 52,019 | 48,545 |
Under 90 Days and Not Accruing | 553 | 862 |
Total 90 Days and Accruing | ' | ' |
Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past due loans 30-59 Days | 362 | 291 |
Past due loans 60-89 Days | 183 | 216 |
Past due loans Over 90 Days | 1,152 | 2,124 |
Total Past Due | 1,697 | 2,631 |
Current | 44,345 | 48,040 |
Total loans | 46,042 | 50,671 |
Under 90 Days and Not Accruing | 554 | 543 |
Total 90 Days and Accruing | ' | ' |
Multi-family | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past due loans 30-59 Days | ' | 700 |
Past due loans 60-89 Days | 65 | 78 |
Past due loans Over 90 Days | ' | ' |
Total Past Due | 65 | 778 |
Current | 49,801 | 62,045 |
Total loans | 49,866 | 62,823 |
Under 90 Days and Not Accruing | 65 | 76 |
Total 90 Days and Accruing | ' | ' |
Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past due loans 30-59 Days | ' | ' |
Past due loans 60-89 Days | ' | ' |
Past due loans Over 90 Days | 111 | 487 |
Total Past Due | 111 | 487 |
Current | 71,919 | 81,943 |
Total loans | 72,030 | 82,430 |
Under 90 Days and Not Accruing | 16 | 815 |
Total 90 Days and Accruing | ' | ' |
Construction | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past due loans 30-59 Days | ' | ' |
Past due loans 60-89 Days | ' | ' |
Past due loans Over 90 Days | ' | ' |
Total Past Due | ' | ' |
Current | 5,446 | 8,928 |
Total loans | 5,446 | 8,928 |
Under 90 Days and Not Accruing | ' | ' |
Total 90 Days and Accruing | ' | ' |
Land | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past due loans 30-59 Days | 35 | ' |
Past due loans 60-89 Days | ' | 79 |
Past due loans Over 90 Days | 121 | 140 |
Total Past Due | 156 | 219 |
Current | 9,716 | 4,966 |
Total loans | 9,872 | 5,185 |
Under 90 Days and Not Accruing | ' | 1,238 |
Total 90 Days and Accruing | ' | ' |
Consumer and Home Equity | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Past due loans 30-59 Days | 2 | 1 |
Past due loans 60-89 Days | ' | 2 |
Past due loans Over 90 Days | ' | ' |
Total Past Due | 2 | 3 |
Current | 17,208 | 17,549 |
Total loans | 17,210 | 17,552 |
Under 90 Days and Not Accruing | ' | 2 |
Total 90 Days and Accruing | ' | ' |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses - Impaired loans and interest recognized (Details 4) (Loans Receivable, USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Loans without a specific valuation allowance | ' | ' |
Loans without a specific valuation allowance, Recorded Balance | $7,094 | $16,057 |
Loans without a specific valuation allowance, Unpaid Principal Balance | 8,423 | 18,360 |
Loans without a specific valuation allowance Average Impaired Loans | 11,072 | 21,520 |
Loans without a specific valuation allowance, Interest Income Recognized | 685 | 820 |
Loans with a specific valuation allowance | ' | ' |
Loans with a specific valuation allowance, Recorded Balance | 5,991 | 2,157 |
Loans with a specific valuation allowance, Unpaid Principal Balance | 5,513 | 2,171 |
Loans with a specific valuation allowance, Specific Allowance | 798 | 318 |
Loans with a specific valuation allowance, Average Impaired Loans | 3,747 | 2,227 |
Loans with a specific valuation allowance, Interest Income Recognized | 367 | 60 |
Total | ' | ' |
Total Recorded Balance | 13,085 | 18,214 |
Total Unpaid Principal Balance | 13,936 | 20,531 |
Total Specific Allowance | 798 | 318 |
Total Average Impaired Loans | 14,819 | 23,747 |
Total Interest Income Recognized | 1,052 | 880 |
Commercial | ' | ' |
Loans without a specific valuation allowance | ' | ' |
Loans without a specific valuation allowance, Recorded Balance | ' | 49 |
Loans without a specific valuation allowance, Unpaid Principal Balance | ' | 521 |
Loans without a specific valuation allowance Average Impaired Loans | ' | 568 |
Loans without a specific valuation allowance, Interest Income Recognized | ' | 35 |
Loans with a specific valuation allowance | ' | ' |
Loans with a specific valuation allowance, Recorded Balance | 1,250 | ' |
Loans with a specific valuation allowance, Unpaid Principal Balance | 1,250 | ' |
Loans with a specific valuation allowance, Specific Allowance | 5 | ' |
Loans with a specific valuation allowance, Average Impaired Loans | 313 | 143 |
Loans with a specific valuation allowance, Interest Income Recognized | 12 | 2 |
Total | ' | ' |
Total Recorded Balance | 1,250 | 49 |
Total Unpaid Principal Balance | 1,250 | 521 |
Total Specific Allowance | 5 | ' |
Total Average Impaired Loans | 313 | 711 |
Total Interest Income Recognized | 12 | 37 |
Owner Occupied 1-4 | ' | ' |
Loans without a specific valuation allowance | ' | ' |
Loans without a specific valuation allowance, Recorded Balance | 793 | 1,421 |
Loans without a specific valuation allowance, Unpaid Principal Balance | 922 | 1,535 |
Loans without a specific valuation allowance Average Impaired Loans | 1,089 | 1,434 |
Loans without a specific valuation allowance, Interest Income Recognized | 28 | 65 |
Loans with a specific valuation allowance | ' | ' |
Loans with a specific valuation allowance, Recorded Balance | 128 | 232 |
Loans with a specific valuation allowance, Unpaid Principal Balance | 132 | 240 |
Loans with a specific valuation allowance, Specific Allowance | 13 | 14 |
Loans with a specific valuation allowance, Average Impaired Loans | 128 | 160 |
Loans with a specific valuation allowance, Interest Income Recognized | 4 | 8 |
Total | ' | ' |
Total Recorded Balance | 921 | 1,653 |
Total Unpaid Principal Balance | 1,054 | 1,775 |
Total Specific Allowance | 13 | 14 |
Total Average Impaired Loans | 1,217 | 1,594 |
Total Interest Income Recognized | 32 | 73 |
Non-owner Occupied 1-4 | ' | ' |
Loans without a specific valuation allowance | ' | ' |
Loans without a specific valuation allowance, Recorded Balance | 2,543 | 5,636 |
Loans without a specific valuation allowance, Unpaid Principal Balance | 3,264 | 5,990 |
Loans without a specific valuation allowance Average Impaired Loans | 4,340 | 6,485 |
Loans without a specific valuation allowance, Interest Income Recognized | 241 | 273 |
Loans with a specific valuation allowance | ' | ' |
Loans with a specific valuation allowance, Recorded Balance | 277 | 281 |
Loans with a specific valuation allowance, Unpaid Principal Balance | 277 | 281 |
Loans with a specific valuation allowance, Specific Allowance | 30 | 27 |
Loans with a specific valuation allowance, Average Impaired Loans | 283 | 295 |
Loans with a specific valuation allowance, Interest Income Recognized | 2 | 1 |
Total | ' | ' |
Total Recorded Balance | 2,820 | 5,917 |
Total Unpaid Principal Balance | 3,541 | 6,271 |
Total Specific Allowance | 30 | 27 |
Total Average Impaired Loans | 4,623 | 6,780 |
Total Interest Income Recognized | 243 | 274 |
Multi-family | ' | ' |
Loans without a specific valuation allowance | ' | ' |
Loans without a specific valuation allowance, Recorded Balance | 522 | 2,813 |
Loans without a specific valuation allowance, Unpaid Principal Balance | 541 | 2,865 |
Loans without a specific valuation allowance Average Impaired Loans | 1,346 | 3,032 |
Loans without a specific valuation allowance, Interest Income Recognized | 101 | 151 |
Loans with a specific valuation allowance | ' | ' |
Loans with a specific valuation allowance, Recorded Balance | ' | 78 |
Loans with a specific valuation allowance, Unpaid Principal Balance | ' | 83 |
Loans with a specific valuation allowance, Specific Allowance | ' | 24 |
Loans with a specific valuation allowance, Average Impaired Loans | ' | 16 |
Loans with a specific valuation allowance, Interest Income Recognized | ' | ' |
Total | ' | ' |
Total Recorded Balance | 522 | 2,891 |
Total Unpaid Principal Balance | 541 | 2,948 |
Total Specific Allowance | ' | 24 |
Total Average Impaired Loans | 1,346 | 3,048 |
Total Interest Income Recognized | 101 | 151 |
Commercial Real Estate | ' | ' |
Loans without a specific valuation allowance | ' | ' |
Loans without a specific valuation allowance, Recorded Balance | 2,452 | 4,667 |
Loans without a specific valuation allowance, Unpaid Principal Balance | 2,646 | 5,720 |
Loans without a specific valuation allowance Average Impaired Loans | 3,478 | 8,275 |
Loans without a specific valuation allowance, Interest Income Recognized | 310 | 260 |
Loans with a specific valuation allowance | ' | ' |
Loans with a specific valuation allowance, Recorded Balance | 4,251 | 1,566 |
Loans with a specific valuation allowance, Unpaid Principal Balance | 3,769 | 1,567 |
Loans with a specific valuation allowance, Specific Allowance | 749 | 253 |
Loans with a specific valuation allowance, Average Impaired Loans | 2,952 | 1,612 |
Loans with a specific valuation allowance, Interest Income Recognized | 347 | 48 |
Total | ' | ' |
Total Recorded Balance | 6,703 | 6,233 |
Total Unpaid Principal Balance | 6,415 | 7,287 |
Total Specific Allowance | 749 | 253 |
Total Average Impaired Loans | 6,430 | 9,887 |
Total Interest Income Recognized | 657 | 308 |
Construction | ' | ' |
Loans without a specific valuation allowance | ' | ' |
Loans without a specific valuation allowance, Recorded Balance | ' | ' |
Loans without a specific valuation allowance, Unpaid Principal Balance | ' | ' |
Loans without a specific valuation allowance Average Impaired Loans | ' | ' |
Loans without a specific valuation allowance, Interest Income Recognized | ' | ' |
Loans with a specific valuation allowance | ' | ' |
Loans with a specific valuation allowance, Recorded Balance | ' | ' |
Loans with a specific valuation allowance, Unpaid Principal Balance | ' | ' |
Loans with a specific valuation allowance, Specific Allowance | ' | ' |
Loans with a specific valuation allowance, Average Impaired Loans | ' | ' |
Loans with a specific valuation allowance, Interest Income Recognized | ' | ' |
Total | ' | ' |
Total Recorded Balance | ' | ' |
Total Unpaid Principal Balance | ' | ' |
Total Specific Allowance | ' | ' |
Total Average Impaired Loans | ' | ' |
Total Interest Income Recognized | ' | ' |
Land | ' | ' |
Loans without a specific valuation allowance | ' | ' |
Loans without a specific valuation allowance, Recorded Balance | 694 | 1,379 |
Loans without a specific valuation allowance, Unpaid Principal Balance | 959 | 1,615 |
Loans without a specific valuation allowance Average Impaired Loans | 719 | 1,566 |
Loans without a specific valuation allowance, Interest Income Recognized | ' | 25 |
Loans with a specific valuation allowance | ' | ' |
Loans with a specific valuation allowance, Recorded Balance | 85 | ' |
Loans with a specific valuation allowance, Unpaid Principal Balance | 85 | ' |
Loans with a specific valuation allowance, Specific Allowance | 1 | ' |
Loans with a specific valuation allowance, Average Impaired Loans | 71 | ' |
Loans with a specific valuation allowance, Interest Income Recognized | 2 | ' |
Total | ' | ' |
Total Recorded Balance | 779 | 1,379 |
Total Unpaid Principal Balance | 1,044 | 1,615 |
Total Specific Allowance | 1 | ' |
Total Average Impaired Loans | 790 | 1,566 |
Total Interest Income Recognized | 2 | 25 |
Consumer and Home Equity | ' | ' |
Loans without a specific valuation allowance | ' | ' |
Loans without a specific valuation allowance, Recorded Balance | 90 | 92 |
Loans without a specific valuation allowance, Unpaid Principal Balance | 91 | 114 |
Loans without a specific valuation allowance Average Impaired Loans | 100 | 160 |
Loans without a specific valuation allowance, Interest Income Recognized | 5 | 11 |
Loans with a specific valuation allowance | ' | ' |
Loans with a specific valuation allowance, Recorded Balance | ' | ' |
Loans with a specific valuation allowance, Unpaid Principal Balance | ' | ' |
Loans with a specific valuation allowance, Specific Allowance | ' | ' |
Loans with a specific valuation allowance, Average Impaired Loans | ' | 1 |
Loans with a specific valuation allowance, Interest Income Recognized | ' | 1 |
Total | ' | ' |
Total Recorded Balance | 90 | 92 |
Total Unpaid Principal Balance | 91 | 114 |
Total Specific Allowance | ' | ' |
Total Average Impaired Loans | 100 | 161 |
Total Interest Income Recognized | $5 | $12 |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses - Breakdown of non-accruing loans by loan class (Details 5) (Loans Receivable, USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Breakdown Of Non Accruing Loans By Loan Class [Line Items] | ' | ' |
Non accruing loans | $2,572 | $6,443 |
Commercial | ' | ' |
Breakdown Of Non Accruing Loans By Loan Class [Line Items] | ' | ' |
Non accruing loans | ' | 49 |
Owner occupied 1-4 | ' | ' |
Breakdown Of Non Accruing Loans By Loan Class [Line Items] | ' | ' |
Non accruing loans | 553 | 969 |
Non-owner occupied 1-4 | ' | ' |
Breakdown Of Non Accruing Loans By Loan Class [Line Items] | ' | ' |
Non accruing loans | 1,706 | 2,667 |
Multi-family | ' | ' |
Breakdown Of Non Accruing Loans By Loan Class [Line Items] | ' | ' |
Non accruing loans | 66 | 76 |
Commercial real estate | ' | ' |
Breakdown Of Non Accruing Loans By Loan Class [Line Items] | ' | ' |
Non accruing loans | 126 | 1,302 |
Land | ' | ' |
Breakdown Of Non Accruing Loans By Loan Class [Line Items] | ' | ' |
Non accruing loans | 121 | 1,378 |
Consumer and home equity | ' | ' |
Breakdown Of Non Accruing Loans By Loan Class [Line Items] | ' | ' |
Non accruing loans | ' | $2 |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses - Troubled debt restructurings by class (Details 6) (Loans Receivable, USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Loan | Loan | |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 14 | 6 |
Pre-modification Recorded Balance | $4,240 | $2,373 |
Post-modification Recorded Balance | 3,949 | 1,914 |
Commercial | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | 1 |
Pre-modification Recorded Balance | 1,250 | 245 |
Post-modification Recorded Balance | 1,250 | 245 |
Type of Modification | 'Term | 'Term |
Owner occupied 1-4 | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | 3 |
Pre-modification Recorded Balance | 38 | 239 |
Post-modification Recorded Balance | 38 | 239 |
Type of Modification | 'Below market rate | 'Rate, high loan-to-value |
Non-owner Occupied 1-4 | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 7 | ' |
Pre-modification Recorded Balance | 1,519 | ' |
Post-modification Recorded Balance | 1,246 | ' |
Type of Modification | 'A/B loan, payment adjustment, term | ' |
Multi-family | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | ' |
Pre-modification Recorded Balance | 35 | ' |
Post-modification Recorded Balance | 35 | ' |
Type of Modification | 'Rate | ' |
Commercial real estate | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 2 | 2 |
Pre-modification Recorded Balance | 1,274 | 1,889 |
Post-modification Recorded Balance | 1,256 | 1,430 |
Type of Modification | 'Rate, term | 'A/B loan, payment adjustment |
Construction | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | ' | ' |
Pre-modification Recorded Balance | ' | ' |
Post-modification Recorded Balance | ' | ' |
Land | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | ' |
Pre-modification Recorded Balance | 95 | ' |
Post-modification Recorded Balance | 95 | ' |
Type of Modification | 'Rate, term | ' |
Consumer and home equity | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Number of Loans | 1 | ' |
Pre-modification Recorded Balance | 29 | ' |
Post-modification Recorded Balance | $29 | ' |
Type of Modification | 'Term | ' |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses (Detail Textuals) (Loans Receivable, USD $) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2013 | |
Loans Receivable | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans to related parties | $3,100,000 | $2,600,000 |
Paydowns from related parties | 625,000 | ' |
Additional debt to related parties | 18,000 | ' |
Trouble debt restructuring placement back on accrual basis | ' | $6,800,000 |
Premises_and_Equipment_Details
Premises and Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Gross premises and equipment | $14,044 | $12,743 |
Less accumulated depreciation | -6,111 | -5,674 |
Net premises and equipment | 7,933 | 7,069 |
Land | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Gross premises and equipment | 1,681 | 1,681 |
Buildings and improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Gross premises and equipment | 8,552 | 7,569 |
Equipment | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Gross premises and equipment | $3,811 | $3,493 |
Loan_Servicing_Activity_pertai
Loan Servicing - Activity pertaining to mortgage servicing rights measured using amortization method (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Mortgage servicing rights | ' | ' |
Balance, beginning of year | $983 | $962 |
Additions | 277 | 419 |
Amortization of servicing rights | -173 | -398 |
Balance, end of year | 1,087 | 983 |
Fair value, beginning of period | 1,184 | 983 |
Fair value, end of period | $1,513 | $1,184 |
Loan_Servicing_Detail_Textuals
Loan Servicing (Detail Textuals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Loan Servicing [Abstract] | ' | ' |
Unpaid principal balances of mortgage loans serviced for others | $131.10 | $123.20 |
Deposits_Summary_of_deposits_a
Deposits - Summary of deposits at year-end (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Deposit [Line Items] | ' | ' |
Non-interest-bearing deposits, amount | $33,488 | $30,879 |
Non-interest-bearing deposits, percent | 10.64% | 10.00% |
NOW accounts, amount | 120,752 | 107,859 |
NOW accounts, percent | 38.38% | 34.95% |
Savings accounts, amount | 30,866 | 28,966 |
Savings accounts, percent | 9.81% | 9.39% |
Total amount | 185,106 | 167,704 |
Total percent | 58.83% | 54.34% |
Certificates of deposit, aggregate amount | 129,514 | 140,933 |
Certificates of deposit, aggregate percentage | 41.17% | 45.66% |
Deposits, total | 314,620 | 308,637 |
Percentage of interest on deposits | 100.00% | 100.00% |
0.00% to 1.99% | ' | ' |
Deposit [Line Items] | ' | ' |
Certificates of deposit, aggregate amount | 94,948 | 94,506 |
Certificates of deposit, aggregate percentage | 30.18% | 30.62% |
2.00% to 3.99% | ' | ' |
Deposit [Line Items] | ' | ' |
Certificates of deposit, aggregate amount | 33,367 | 42,802 |
Certificates of deposit, aggregate percentage | 10.61% | 13.87% |
4.00% to 5.99% | ' | ' |
Deposit [Line Items] | ' | ' |
Certificates of deposit, aggregate amount | 1,199 | 3,620 |
Certificates of deposit, aggregate percentage | 0.38% | 1.17% |
6.00% to 7.99% | ' | ' |
Deposit [Line Items] | ' | ' |
Certificates of deposit, aggregate amount | ' | $5 |
Certificates of deposit, aggregate percentage | ' | ' |
Deposits_Scheduled_maturities_
Deposits - Scheduled maturities of certificates of deposit (Details 1) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Deposits [Abstract] | ' |
2014 | $77,716 |
2015 | 30,829 |
2016 | 9,249 |
2017 | 5,805 |
2018 | 5,915 |
Time Deposits, Total | $129,514 |
Deposits_Detail_Textuals
Deposits (Detail Textuals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Deposits [Abstract] | ' | ' |
Time deposits of $100,000 or more including brokered deposits | $68.40 | $69.20 |
Deposits from related parties | 1.7 | 2 |
Brokered deposits | $13.70 | $13.70 |
Federal_Home_Loan_Bank_Advance2
Federal Home Loan Bank Advances - Aggregate annual maturities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Advances From Federal Home Loan Banks [Abstract] | ' | ' |
2014 | ' | ' |
2015 | 3,000 | ' |
2016 | 7,000 | ' |
2017 | ' | ' |
Federal Home Loan Bank, advances, total | $10,000 | $15,000 |
Federal_Home_Loan_Bank_Advance3
Federal Home Loan Bank Advances (Detail Textuals) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Advances From Federal Home Loan Banks [Abstract] | ' | ' |
Federal Home Loan Bank, advances | $10,000,000 | $15,000,000 |
Federal Home Loan Bank, advances range in interest rates, range from | 1.84% | ' |
Federal Home Loan Bank, advances range in interest rates, range to | 3.13% | ' |
Blanket mortgage loan collateral | $110,000,000 | ' |
Income_Taxes_Provision_for_inc
Income Taxes - Provision for income taxes (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Taxes currently payable | $1,683 | $1,774 |
Deferred income taxes | -227 | -242 |
Provision for Income Taxes | $1,456 | $1,532 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of income tax expense at the statutory rate (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Computed at the statutory rate (34%) | $1,358 | $1,425 |
Increase (decrease) resulting from | ' | ' |
Tax exempt interest | -67 | -51 |
State income taxes | 193 | 195 |
Other | -28 | -37 |
Provision for Income Taxes | $1,456 | $1,532 |
Income_Taxes_Tax_effects_of_te
Income Taxes - Tax effects of temporary differences related to deferred taxes (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax assets | ' | ' |
Allowance for loan losses | $2,632 | $2,382 |
Non-accrual loan income | 342 | 350 |
Unrealized gain on available-for-sale securities | 196 | ' |
Other | 359 | 344 |
Deferred tax assets, total | 3,529 | 3,076 |
Deferred tax liabilities | ' | ' |
Depreciation | 287 | 265 |
Mortgage servicing rights | 459 | 416 |
FHLB stock dividends | 131 | 132 |
Unrealized loss on available-for-sale securities | ' | 212 |
Other | 320 | 357 |
Deferred tax liabilities, total | 1,197 | 1,382 |
Net deferred tax asset | $2,332 | $1,694 |
Income_Taxes_Detail_Textuals
Income Taxes (Detail Textuals) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' |
Deferred tax liability not recognized, amount of unrecognized deferred tax liability included in reatined earnings | $1,900,000 | $1,900,000 |
Deferred tax liability not recognized, amount of unrecognized deferred tax liability | $737,000 | $737,000 |
Federal statutory rate (in percent) | 34.00% | 34.00% |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Detail Textuals) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Equity [Abstract] | ' | ' |
Net unrealized gains in the available-for-sale investment portfolio | ($496,000) | $536,000 |
Tax (benefit) expenses on available-for-sale securities | ($196,000) | $212,000 |
Regulatory_Matters_Banks_actua
Regulatory Matters - Bank's actual capital amounts and ratios (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Regulatory Capital Requirements Under Banking Regulations [Abstract] | ' | ' |
Total risk-based capital (to risk-weighted assets) - Actual Amount | $43,604 | $41,400 |
Total risk-based capital (to risk-weighted assets) - Actual Ratio | 17.40% | 16.00% |
Total risk-based capital (to risk-weighted assets) - For Capital Adequacy Purposes Amount | 20,054 | 20,694 |
Total risk-based capital (to risk-weighted assets) - For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Total risk-based capital (to risk-weighted assets) - To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 25,067 | 25,868 |
Total risk-based capital (to risk-weighted assets) - To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Tier I capital (to risk-weighted assets) - Actual Amount | 40,431 | 38,134 |
Tier I capital (to risk-weighted assets) - Actual Ratio | 16.10% | 14.70% |
Tier I capital (to risk-weighted assets) - For Capital Adequacy Purposes Amount | 10,027 | 10,347 |
Tier I capital (to risk-weighted assets) - For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Tier I capital (to risk-weighted assets) - To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 15,040 | 15,521 |
Tier I capital (to risk-weighted assets) - To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.00% | 6.00% |
Tier I capital (to adjusted total assets) - Actual Amount | 40,431 | 38,134 |
Tier I capital (to adjusted total assets) - Actual Ratio | 11.00% | 10.50% |
Tier I capital (to adjusted total assets) - For Capital Adequacy Purposes Amount | 11,048 | 10,928 |
Tier I capital (to adjusted total assets) - For Capital Adequacy Purposes Ratio | 3.00% | 3.00% |
Tier I capital (to adjusted total assets) - To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $18,413 | $18,213 |
Tier I capital (to adjusted total assets) - To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
Regulatory_Matters_Detail_Text
Regulatory Matters (Detail Textuals) (USD $) | Dec. 31, 1995 |
In Millions, unless otherwise specified | |
Regulatory Capital Requirements Under Banking Regulations [Abstract] | ' |
Liquidation account as established in conversion from mutual to a stock institution | $8.10 |
Employee_Benefits_Details
Employee Benefits (Details) | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation and Employee Benefit Plans [Abstract] | ' | ' |
ESOP shares allocated | 78,334 | 95,680 |
Employee_Benefits_Detail_Textu
Employee Benefits (Detail Textuals) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Compensation and Employee Benefit Plans [Abstract] | ' | ' |
Percentage of stock offered in conversion under ESOP | 8.00% | ' |
Employees contribution to 401(k) plan as percentage of their compensation | 100.00% | ' |
Company's matching contribution to 401(k) plan | 100.00% | ' |
Percentage of employees compensation | 4.00% | ' |
Employer contributions charged to expense | $99,000 | $127,000 |
Stock_Option_Plans_Summary_of_
Stock Option Plans - Summary of option activity under plans (Details) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Shares | ' | ' |
Exercised | -8,866 | -750 |
Stock Options | ' | ' |
Shares | ' | ' |
Forfeited | -12,392 | -2,000 |
1995 and 2007 Incentive Stock Option Plan | Stock Options | ' | ' |
Shares | ' | ' |
Outstanding, beginning of year | 64,183 | ' |
Granted | 0 | ' |
Exercised | -8,866 | ' |
Forfeited | -12,392 | ' |
Outstanding, end of year | 42,925 | ' |
Exercisable, end of year | 18,722 | ' |
Weighted-Average Exercise Price | ' | ' |
Outstanding, beginning of year | 18.58 | ' |
Granted | ' | ' |
Exercised | 20.83 | ' |
Forfeited | 18.68 | ' |
Outstanding, end of year | 18.36 | ' |
Exercisable, end of year | 20.12 | ' |
Weighted-Average Remaining Contractual Term, Outstanding, end of year | '6 years 3 months 7 days | ' |
Weighted-Average Remaining Contractual Term, Exercisable, end of year | '2 years 5 months 23 days | ' |
Aggregate Intrinsic Value | ' | ' |
Outstanding, end of year | 131 | ' |
Exercisable, end of year | 70 | ' |
Stock_Option_Plans_Detail_Text
Stock Option Plans (Detail Textuals) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Weighted-average grant-date fair value of options granted | ' | $672,000 |
Total intrinsic value of options exercised | 45,000 | 5,000 |
Proceeds from stock options exercised | 184,000 | 7,000 |
Actual tax benefit realized for the tax deductions from option exercise | 3,000 | 2,000 |
Stock Options | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Options forfeited | 12,392 | 2,000 |
Unrecognized compensation cost | $63,000 | ' |
Period for recognition | '4 years | ' |
1995 Incentive Stock Option Plan | Stock Options | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Number of shares authorized | 238,050 | ' |
Award vesting percentage | 20.00% | ' |
Weighted average remaining contractual term, outstanding | '10 years | ' |
Number of shares outstanding | 10,610 | ' |
2007 Incentive Stock Option Plan | Stock Options | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Number of shares authorized | 81,000 | ' |
Award vesting percentage | 20.00% | ' |
Weighted average remaining contractual term, outstanding | '10 years | ' |
Number of shares outstanding | 32,315 | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Earnings Per Share [Abstract] | ' | ' |
Net income | $2,538 | $2,659 |
Weighted Average Number of Shares Outstanding, Diluted [Abstract] | ' | ' |
Weighted average shares outstanding, Basic | 1,558,729 | 1,555,810 |
Effect of dilutive securities, stock options, weighted average shares | 6,867 | 5,685 |
Weighted average shares outstanding, Diluted | 1,565,596 | 1,561,495 |
Basic Earnings Per Share (in dollars per share) | $1.63 | $1.71 |
Diluted Earnings Per Share (in dollars per share) | $1.62 | $1.70 |
Income available to common stockholders and assumed conversions | $2,538 | $2,659 |
Earnings_Per_Share_Detail_Text
Earnings Per Share (Detail Textuals) (Stock Options) | 12 Months Ended |
Dec. 31, 2012 | |
Stock Options | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' |
Antidilutive securities excluded from computation of earnings per share | 25,866 |
Disclosures_About_Fair_Value_o2
Disclosures About Fair Value of Assets and Liabilities - Measurement of fair value of assets on recurring basis (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | $62,705 | $28,004 |
Recurring | Fair Value | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | 62,705 | 28,004 |
Recurring | Fair Value | U.S. government-sponsored agencies | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | 28,604 | 10,709 |
Recurring | Fair Value | Mortgage-backed securities | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | 16,599 | 7,198 |
Recurring | Fair Value | Corporate bonds | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | 1,063 | ' |
Recurring | Fair Value | State and political subdivisions securities | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | 16,439 | 10,097 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | ' | ' |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government-sponsored agencies | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | ' | ' |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | ' | ' |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | ' | ' |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | State and political subdivisions securities | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | ' | ' |
Recurring | Significant Other Observable Inputs (Level 2) | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | 62,705 | 28,004 |
Recurring | Significant Other Observable Inputs (Level 2) | U.S. government-sponsored agencies | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | 28,604 | 10,709 |
Recurring | Significant Other Observable Inputs (Level 2) | Mortgage-backed securities | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | 16,599 | 7,198 |
Recurring | Significant Other Observable Inputs (Level 2) | Corporate bonds | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | 1,063 | ' |
Recurring | Significant Other Observable Inputs (Level 2) | State and political subdivisions securities | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | 16,439 | 10,097 |
Recurring | Significant Unobservable Inputs (Level 3) | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | ' | ' |
Recurring | Significant Unobservable Inputs (Level 3) | U.S. government-sponsored agencies | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | ' | ' |
Recurring | Significant Unobservable Inputs (Level 3) | Mortgage-backed securities | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | ' | ' |
Recurring | Significant Unobservable Inputs (Level 3) | Corporate bonds | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | ' | ' |
Recurring | Significant Unobservable Inputs (Level 3) | State and political subdivisions securities | ' | ' |
Available-for-sale Securities: | ' | ' |
Total available-for-sale securities | ' | ' |
Disclosures_About_Fair_Value_o3
Disclosures About Fair Value of Assets and Liabilities - Measurement of fair value of assets on nonrecurring basis (Details 1) (Nonrecurring, USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Collateral-dependent impaired loans | $3,637 | $527 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Collateral-dependent impaired loans | ' | ' |
Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Collateral-dependent impaired loans | ' | ' |
Significant Unobservable Inputs (Level 3) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Collateral-dependent impaired loans | $3,637 | $527 |
Disclosures_About_Fair_Value_o4
Disclosures About Fair Value of Assets and Liabilities - Estimated fair values (Details 2) (Nonrecurring, Significant Unobservable Inputs (Level 3), Market comparable properties, USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Weighted Average | Minimum | Maximum | ||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' | ' |
Collateral-dependent impaired loans | $3,637 | $527 | ' | ' | ' |
Marketability discount, range (weighted average) | ' | ' | 10.00% | 10.00% | 20.00% |
Disclosures_About_Fair_Value_o5
Disclosures About Fair Value of Assets and Liabilities - Quantitative information about unobservable inputs used in recurring and nonrecurring (Details 3) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Carrying Amount | ' | ' |
Financial assets | ' | ' |
Cash and cash equivalents | $24,198 | $31,421 |
Interest bearing time deposits | 1,743 | 1,740 |
Loans held for sale | 657 | 1,363 |
Loans, net of allowance for loan losses | 254,703 | 280,257 |
Federal Home Loan Bank stock | 3,185 | 3,185 |
Mortgage servicing rights | 1,087 | 983 |
Accrued interest receivable | 1,114 | 1,133 |
Financial liabilities | ' | ' |
Transaction and savings deposits | 185,106 | 167,704 |
Time Deposits | 129,514 | 140,933 |
Federal Home Loan Bank advances | 10,000 | 15,000 |
Accrued interest payable | 34 | 40 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' |
Financial assets | ' | ' |
Cash and cash equivalents | 24,198 | 31,421 |
Interest bearing time deposits | ' | ' |
Loans held for sale | ' | ' |
Loans, net of allowance for loan losses | ' | ' |
Federal Home Loan Bank stock | ' | ' |
Mortgage servicing rights | ' | ' |
Accrued interest receivable | ' | ' |
Financial liabilities | ' | ' |
Transaction and savings deposits | 185,106 | 167,704 |
Time Deposits | ' | ' |
Federal Home Loan Bank advances | ' | ' |
Accrued interest payable | ' | ' |
Significant Other Observable Inputs (Level 2) | ' | ' |
Financial assets | ' | ' |
Cash and cash equivalents | ' | ' |
Interest bearing time deposits | 1,743 | 1,740 |
Loans held for sale | 657 | 1,363 |
Loans, net of allowance for loan losses | ' | ' |
Federal Home Loan Bank stock | 3,185 | 3,185 |
Mortgage servicing rights | ' | ' |
Accrued interest receivable | 1,114 | 1,133 |
Financial liabilities | ' | ' |
Transaction and savings deposits | ' | ' |
Time Deposits | ' | ' |
Federal Home Loan Bank advances | 10,289 | 15,515 |
Accrued interest payable | 34 | 40 |
Significant Unobservable Inputs (Level 3) | ' | ' |
Financial assets | ' | ' |
Cash and cash equivalents | ' | ' |
Interest bearing time deposits | ' | ' |
Loans held for sale | ' | ' |
Loans, net of allowance for loan losses | 265,715 | 299,010 |
Federal Home Loan Bank stock | ' | ' |
Mortgage servicing rights | 1,513 | 1,184 |
Accrued interest receivable | ' | ' |
Financial liabilities | ' | ' |
Transaction and savings deposits | ' | ' |
Time Deposits | 130,892 | 143,181 |
Federal Home Loan Bank advances | ' | ' |
Accrued interest payable | ' | ' |
Commitments_and_Contingent_Lia2
Commitments and Contingent Liabilities - Summary of financial instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments to extend credit - Fixed rate | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fair value disclosure, off-balance sheet risks, face amount, liability | $5,592 | $9,062 |
Commitments to extend credit - Variable rate | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fair value disclosure, off-balance sheet risks, face amount, liability | ' | 227 |
Unused portions of lines of credit | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fair value disclosure, off-balance sheet risks, face amount, liability | 23,956 | 26,968 |
Letters of credit | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fair value disclosure, off-balance sheet risks, face amount, liability | $144 | $49 |
Commitments_and_Contingent_Lia3
Commitments and Contingent Liabilities (Detail Textuals) | 12 Months Ended |
Dec. 31, 2013 | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Description of commitments to extend credit are agreements to lend to customer | 'no more than 60 days |
Commitments to extend credit - Fixed rate | Minimum | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Percentage of fixed rate loan commitments | 3.38% |
Commitments to extend credit - Fixed rate | Maximum | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' |
Percentage of fixed rate loan commitments | 4.88% |
Condensed_Financial_Informatio2
Condensed Financial Information (Parent Company Only) - Condensed Balance Sheets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Assets | ' | ' | ' |
Cash | $24,198 | $31,421 | $21,708 |
Securities available-for-sale | 62,705 | 28,004 | ' |
Total assets | 367,581 | 364,610 | ' |
Liabilities | 326,854 | 325,655 | ' |
Stockholders' Equity | 40,727 | 38,955 | 36,174 |
Total liabilities and stockholders' equity | 367,581 | 364,610 | ' |
Parent Company | ' | ' | ' |
Assets | ' | ' | ' |
Cash | 339 | 223 | 225 |
Securities available-for-sale | ' | 110 | ' |
Investment in the Bank | 40,245 | 38,556 | ' |
Other assets | 143 | 66 | ' |
Total assets | 40,727 | 38,955 | ' |
Liabilities | ' | ' | ' |
Stockholders' Equity | 40,727 | 38,955 | ' |
Total liabilities and stockholders' equity | $40,727 | $38,955 | ' |
Condensed_Financial_Informatio3
Condensed Financial Information (Parent Company Only) - Condensed Statements of Income and Comprehensive Income (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income | ' | ' |
Other income | $47 | $44 |
Total income | 13,771 | 15,720 |
Expenses | -2,363 | -3,225 |
Income Tax Benefit | 1,456 | 1,532 |
Net Income | 2,538 | 2,659 |
Comprehensive Income | 1,920 | 2,747 |
Parent Company | ' | ' |
Income | ' | ' |
Dividends from the Bank | 400 | 155 |
Other income | ' | 7 |
Total income | 400 | 162 |
Expenses | -216 | -211 |
Income (Loss) Before Income Tax and Equity in Undistributed Net Income (Loss) of Bank Subsidiary | 184 | -49 |
Income Tax Benefit | 85 | 82 |
Income Before Equity in Undistributed Income of Bank Subsidiary | 269 | 33 |
Equity in Undistributed Income of Bank Subsidiary | 2,269 | 2,626 |
Net Income | 2,538 | 2,659 |
Comprehensive Income | $1,920 | $2,747 |
Condensed_Financial_Informatio4
Condensed Financial Information (Parent Company Only) -Condensed Statements of Cash Flows (Details 2) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Activities | ' | ' |
Net income | $2,538 | $2,659 |
Net cash provided by operating activities | 4,160 | 8,374 |
Financing Activity | ' | ' |
Dividends paid | -374 | -77 |
Stock options exercised | 184 | 7 |
Tax benefit of stock options exercised | 3 | 2 |
Net cash used in financing activities | 796 | -2,864 |
Net Change in Cash | -7,223 | 9,713 |
Cash and Cash Equivalents, Beginning of Year | 31,421 | 21,708 |
Cash and Cash Equivalents, End of Year | 24,198 | 31,421 |
Parent Company | ' | ' |
Operating Activities | ' | ' |
Net income | 2,538 | 2,659 |
Equity in undistributed income of the Bank | -2,269 | -2,626 |
Change in other assets | -76 | 15 |
Net cash provided by operating activities | 193 | 48 |
Investing Activity - proceeds from paydowns of securities | 110 | 18 |
Financing Activity | ' | ' |
Dividends paid | -374 | -77 |
Stock options exercised | 184 | 7 |
Tax benefit of stock options exercised | 3 | 2 |
Net cash used in financing activities | -187 | -68 |
Net Change in Cash | 116 | -2 |
Cash and Cash Equivalents, Beginning of Year | 223 | 225 |
Cash and Cash Equivalents, End of Year | $339 | $223 |