Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 7-May-14 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Entity Registrant Name | 'FIRST CITIZENS BANC CORP /OH | ' |
Entity Central Index Key | '0000944745 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 7,707,917 |
Consolidated_Balance_Sheets_Un
Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from financial institutions | $119,715 | $33,883 |
Securities available for sale | 203,997 | 199,613 |
Loans held for sale | 545 | 438 |
Loans, net of allowance of $16,767 and $16,528 | 840,601 | 844,713 |
Other securities | 12,414 | 15,424 |
Premises and equipment, net | 15,831 | 16,927 |
Premises and equipment, held for sale | 654 | ' |
Accrued interest receivable | 4,202 | 3,881 |
Goodwill | 21,720 | 21,720 |
Other intangibles | 2,091 | 2,293 |
Bank owned life insurance | 19,275 | 19,145 |
Other assets | 9,842 | 9,509 |
Total assets | 1,250,887 | 1,167,546 |
Deposits | ' | ' |
Noninterest-bearing | 306,751 | 234,976 |
Interest-bearing | 738,069 | 707,499 |
Total deposits | 1,044,820 | 942,475 |
Federal Home Loan Bank advances | 37,717 | 37,726 |
Securities sold under agreements to repurchase | 17,949 | 20,053 |
Subordinated debentures | 29,427 | 29,427 |
Accrued expenses and other liabilities | 12,363 | 9,489 |
Total liabilities | 1,142,276 | 1,039,170 |
SHAREHOLDERS' EQUITY | ' | ' |
Common shares, no par value, 20,000,000 shares authorized, 8,455,881 shares issued | 114,365 | 114,365 |
Accumulated deficit | -8,747 | -10,823 |
Treasury shares, 747,964 shares at cost | -17,235 | -17,235 |
Accumulated other comprehensive loss | -2,904 | -4,247 |
Total shareholders' equity | 108,611 | 128,376 |
Total liabilities and shareholders' equity | 1,250,887 | 1,167,546 |
Series A Preferred Stock [Member] | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' |
Preferred stock | ' | 23,184 |
Series B Preferred Stock [Member] | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' |
Preferred stock | $23,132 | $23,132 |
Consolidated_Balance_Sheets_Un1
Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Allowance, loans | $16,767,000 | $16,528,000 |
Preferred shares, par value | ' | ' |
Preferred shares, shares authorized | 200,000 | 200,000 |
Common shares, par value | ' | ' |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 8,455,881 | 8,455,881 |
Treasury stock, shares | 747,964 | 747,964 |
Series A Preferred Stock [Member] | ' | ' |
Preferred shares, liquidation preference | 1,000 | 1,000 |
Preferred shares, shares issued | 0 | 23,184 |
Series B Preferred Stock [Member] | ' | ' |
Preferred shares, liquidation preference | $1,000 | $1,000 |
Preferred shares, shares issued | 25,000 | 25,000 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Interest and dividend income | ' | ' |
Loans, including fees | $9,782 | $9,713 |
Taxable securities | 872 | 1,006 |
Tax-exempt securities | 574 | 524 |
Federal funds sold and other | 87 | 44 |
Total interest income | 11,315 | 11,287 |
Interest expense | ' | ' |
Deposits | 615 | 760 |
Federal Home Loan Bank advances | 324 | 343 |
Subordinated debentures | 205 | 190 |
Other | 6 | 6 |
Total interest expense | 1,150 | 1,299 |
Net interest income | 10,165 | 9,988 |
Provision for loan losses | 750 | 500 |
Net interest income after provision for loan losses | 9,415 | 9,488 |
Noninterest income | ' | ' |
Service charges | 979 | 965 |
Net gain on sale of securities | 4 | 17 |
Net gain on sale of loans | 103 | 199 |
ATM fees | 461 | 460 |
Trust fees | 788 | 603 |
Tax refund processing fees | 1,877 | 380 |
Bank owned life insurance | 130 | 147 |
Other | 282 | 444 |
Total noninterest income | 4,624 | 3,215 |
Noninterest expense | ' | ' |
Salaries, wages and benefits | 5,726 | 5,505 |
Net occupancy expense | 688 | 611 |
Equipment expense | 342 | 279 |
Contracted data processing | 285 | 262 |
Federal deposit insurance assessment | 237 | 261 |
State franchise tax | 210 | 264 |
Professional services | 391 | 481 |
Amortization of intangible assets | 202 | 212 |
ATM expense | 203 | 155 |
Marketing | 300 | 193 |
Other operating expenses | 1,844 | 1,985 |
Total noninterest expense | 10,428 | 10,208 |
Income before taxes | 3,611 | 2,495 |
Income tax expense | 899 | 582 |
Net Income | 2,712 | 1,913 |
Preferred stock dividends and discount accretion | 655 | 290 |
Net income available to common shareholders | $2,057 | $1,623 |
Earnings per common share, basic | $0.27 | $0.21 |
Earnings per common share, diluted | $0.22 | $0.21 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' |
Net income | $2,712 | $1,913 |
Other comprehensive income (loss): | ' | ' |
Unrealized holding gains (loss) on available for sale securities | 1,996 | -623 |
Tax effect of unrealized holdings gains (loss) on available for sale securities | -678 | 211 |
Reclassification adjustment for gain recognized in income | -4 | -17 |
Tax effect of reclassification adjustment for gain recognized in income | 1 | 6 |
Change in unrecognized pension cost | 43 | 158 |
Tax effect of change in unrecognized pension cost | -15 | -54 |
Net current-period other comprehensive income (loss) | 1,343 | -319 |
Comprehensive income | $4,055 | $1,594 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statement of Shareholders Equity (Unaudited) (USD $) | Total | Preferred Shares [Member] | Common Shares [Member] | Accumulated Deficit [Member] | Treasury Shares [Member] | Accumulated Other Comprehensive Loss [Member] |
In Thousands, except Share data | ||||||
Balance at Dec. 31, 2013 | $128,376 | $46,316 | $114,365 | ($10,823) | ($17,235) | ($4,247) |
Balance, shares at Dec. 31, 2013 | ' | 48,184 | 7,707,917 | ' | ' | ' |
Net income | 2,712 | ' | ' | 2,712 | ' | ' |
Other comprehensive income | 1,343 | ' | ' | ' | ' | 1,343 |
Redemption of Series A preferred shares, Value | -22,857 | -23,184 | ' | 327 | ' | ' |
Redemption of Series A preferred shares | ' | -23,184 | ' | ' | ' | ' |
Cash dividends ($ .04 per share) | -308 | ' | ' | -308 | ' | ' |
Preferred stock dividend | -655 | ' | ' | -655 | ' | ' |
Balance at Mar. 31, 2014 | $108,611 | $23,132 | $114,365 | ($8,747) | ($17,235) | ($2,904) |
Balance, shares at Mar. 31, 2014 | ' | 25,000 | 7,707,917 | ' | ' | ' |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Shareholders Equity (Unaudited) (Parenthetical) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Cash dividends per share | $0.04 |
Accumulated Deficit [Member] | ' |
Cash dividends per share | $0.04 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement Of Cash Flows [Abstract] | ' | ' |
Net cash from operating activities | $5,897 | $2,767 |
Cash flows used for investing activities: | ' | ' |
Maturities and calls of securities, available-for-sale | 18,691 | 20,048 |
Purchases of securities, available-for-sale | -36,495 | -23,035 |
Sale of securities available for sale | 15,013 | 516 |
Redemption of Federal Reserve stock | 11 | 17 |
Redemption of Federal Home Loan Bank stock | 2,999 | ' |
Net loan repayments | 3,247 | 8,138 |
Proceeds from sale of other real estate owned properties | 72 | 197 |
Proceeds from sale of premises and equipment | 167 | 118 |
Purchases of property and equipment | -182 | -160 |
Net cash provided by investing activities | 3,523 | 5,839 |
Cash flows from financing activities: | ' | ' |
Repayment of FHLB advances | -9 | -8 |
Increase in deposits | 102,345 | 39,427 |
Decrease in securities sold under repurchase agreements | -2,104 | -3,143 |
Repayment of series A preferred stock | -22,857 | ' |
Cash dividends paid on common shares and preferred shares | -963 | -521 |
Net cash provided by financing activities | 76,412 | 35,755 |
Increase in cash and due from financial institutions | 85,832 | 44,361 |
Cash and due from financial institutions at beginning of period | 33,883 | 46,131 |
Cash and due from financial institutions at end of period | 119,715 | 90,492 |
Cash paid during the period for: | ' | ' |
Interest | 1,155 | 1,306 |
Income taxes | ' | ' |
Supplemental cash flow information: | ' | ' |
Transfer of loans from portfolio to other real estate owned | $89 | $99 |
Consolidated_Financial_Stateme
Consolidated Financial Statements | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Consolidated Financial Statements | ' |
(1) Consolidated Financial Statements | |
Nature of Operations and Principles of Consolidation: The Consolidated Financial Statements include the accounts of First Citizens Banc Corp (FCBC) and its wholly-owned subsidiaries: The Citizens Banking Company (Citizens), First Citizens Insurance Agency, Inc., Water Street Properties, Inc. (Water St.) and FC Refund Solutions, Inc (FCRS). FCRS was formed to facilitate payment of individual state and federal income tax refunds. First Citizens Capital LLC (FCC) is wholly-owned by Citizens and holds inter-company debt. The operations of FCC are located in Wilmington, Delaware. First Citizens Investments, Inc. (FCI) is wholly-owned by Citizens and holds and manages its securities portfolio. The operations of FCI are located in Wilmington, Delaware. The above companies together are referred to as the “Company.” Intercompany balances and transactions are eliminated in consolidation. | |
The consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the Company’s financial position as of March 31, 2014 and its results of operations and changes in cash flows for the periods ended March 31, 2014 and 2013 have been made. The accompanying Consolidated Financial Statements have been prepared in accordance with instructions of Form 10-Q, and therefore certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been omitted. The results of operations for the period ended March 31, 2014 are not necessarily indicative of the operating results for the full year. Reference is made to the accounting policies of the Company described in the notes to the financial statements contained in the Company’s 2013 annual report. The Company has consistently followed these policies in preparing this Form 10-Q. | |
The Company provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Madison, Summit, Huron, Ottawa, and Richland. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial, and installment loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. The bank has one concentration to Lessors of Residential Buildings and Dwellings totaling $99,749 million or 11.6 percent of total loans as of March 31, 2014. This portfolio predominantly consists of commercial loans financing multi-family real estate. This segment of the portfolio is stable and has been conservatively underwritten, monitored and managed by experienced commercial lenders. However, the customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area. Other financial instruments that potentially represent concentrations of credit risk include deposit accounts in other financial institutions and Federal Funds sold. First Citizens Insurance Agency, Inc. was formed to allow the Company to participate in commission revenue generated through its third party insurance agreement. Insurance commission revenue was less than 1.0% of total revenue through March 31, 2014. Water St. revenue was less than 1.0% of total revenue through March 31, 2014. Management considers the Company to operate primarily in one reportable segment, banking. |
Significant_Accounting_Policie
Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Significant Accounting Policies | ' |
(2) Significant Accounting Policies | |
Use of Estimates: To prepare financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in financial statements and the disclosures provided, and future results could differ. The allowance for loan losses, impairment of goodwill, fair values of financial instruments, deferred taxes and pension obligations are particularly subject to change. | |
Income Taxes: Income tax expense is based on the effective tax rate expected to be applicable for the entire year. Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax basis of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. | |
Reclassifications: Some items in the prior year financial statements were reclassified to conform to the current presentation. | |
Adoption of New Accounting Standards: | |
In February 2013, the FASB issued ASU 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The objective of the amendments in this Update is to provide guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. generally accepted accounting principles (GAAP). Examples of obligations within the scope of this Update include debt arrangements, other contractual obligations, and settled litigation and judicial rulings. U.S. GAAP does not include specific guidance on accounting for such obligations with joint and several liability, which has resulted in diversity in practice. Some entities record the entire amount under the joint and several liability arrangements on the basis of the concept of a liability and the guidance that must be met to extinguish a liability. Other entities record less than the total amount of the obligation, such as an amount allocated, an amount corresponding to the proceeds received, or the portion of the amount the entity agreed to pay among its co-obligors, on the basis of the guidance for contingent liabilities. The amendments in this Update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. This Update became effective for the Company on January 1, 2014 and did not have a significant impact on the Company’s financial statements. | |
In April 2013, the FASB issued ASU 2013-07, Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting. The amendments in this Update are being issued to clarify when an entity should apply the liquidation basis of accounting. In addition, the guidance provides principles for the recognition and measurement of assets and liabilities and requirements for financial statements prepared using the liquidation basis of accounting. The amendments require an entity to prepare its financial statements using the liquidation basis of accounting when liquidation is imminent. Liquidation is imminent when the likelihood is remote that the entity will return from liquidation and either (a) a plan for liquidation is approved by the person or persons with the authority to make such a plan effective and the likelihood is remote that the execution of the plan will be blocked by other parties or (b) a plan for liquidation is being imposed by other forces (for example, involuntary bankruptcy). If a plan for liquidation was specified in the entity’s governing documents from the entity’s inception (for example, limited-life entities), the entity should apply the liquidation basis of accounting only if the approved plan for liquidation differs from the plan for liquidation that was specified at the entity’s inception. The amendments are effective for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein. Entities should apply the requirements prospectively from the day that liquidation becomes imminent. Early adoption is permitted. Entities that use the liquidation basis of accounting as of the effective date in accordance with other Topics (for example, terminating employee benefit plans) are not required to apply the amendments. Instead, those entities should continue to apply the guidance in those other Topics until they have completed liquidation. This Update became effective for the Company on January 1, 2014 and did not have a significant impact on the Company’s financial statements. | |
In June 2013, the FASB issued ASU 2013-08, Financial Services – Investment Companies (Topic 946): Amendments to the Scope, Measurement, and Disclosure Requirements. The amendments in this Update affect the scope, measurement, and disclosure requirements for investment companies under U.S. GAAP. The amendments do all of the following: 1. Change the approach to the investment company assessment in Topic 946, clarify the characteristics of an investment company, and provide comprehensive guidance for assessing whether an entity is an investment Company. 2. Require an investment company to measure noncontrolling ownership interests in other investment companies at fair value rather than using the equity method of accounting. 3. Require the following additional disclosures: (a) the fact that the entity is an investment company and is applying the guidance in Topic 946, (b) information about changes, if any, in an entity’s status as an investment company, and (c) information about financial support provided or contractually required to be provided by an investment company to any of its investees. The amendments in this Update are effective for an entity’s interim and annual reporting periods in fiscal years that begin after December 15, 2013. Earlier application is prohibited. This Update became effective for the Company on January 1, 2014 and did not have a significant impact on the Company’s financial statements. | |
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This Update applies to all entities that have unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. An unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss 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 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 assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. The amendments in this Update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. This Update became effective for the Company on January 1, 2014 and did not have a significant impact on the Company’s financial statements. | |
Effect of Newly Issued but Not Yet Effective Accounting Standards: | |
In January 2014, FASB issued ASU 2014-01, Investments – Equity Method and Join Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. The amendments in this Update permit reporting 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. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in this Update should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those preexisting investments. The amendments in this Update are effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. Adoption of this Update is not expected to have a significant impact on the Company’s financial statements. | |
In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The amendments in this Update clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method. This ASU is not expected to have a significant impact on the Company’s financial statements. |
Securities
Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||
(3) Securities | |||||||||||||||||||||||||
The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: | |||||||||||||||||||||||||
March 31, 2014 | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 52,816 | $ | 124 | $ | (534 | ) | $ | 52,406 | ||||||||||||||||
Obligations of states and political subdivisions | 81,073 | 3,247 | (1,010 | ) | 83,310 | ||||||||||||||||||||
Mortgage-backed securities in government sponsored entities | 67,116 | 1,081 | (397 | ) | 67,800 | ||||||||||||||||||||
Total debt securities | 201,005 | 4,452 | (1,941 | ) | 203,516 | ||||||||||||||||||||
Equity securities in financial institutions | 481 | — | — | 481 | |||||||||||||||||||||
Total | $ | 201,486 | $ | 4,452 | $ | (1,941 | ) | $ | 203,997 | ||||||||||||||||
December 31, 2013 | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 52,229 | $ | 95 | $ | (764 | ) | $ | 51,560 | ||||||||||||||||
Obligations of states and political subdivisions | 79,975 | 2,327 | (1,677 | ) | 80,625 | ||||||||||||||||||||
Mortgage-backed securities in government sponsored entities | 66,409 | 1,127 | (557 | ) | 66,979 | ||||||||||||||||||||
Total debt securities | 198,613 | 3,549 | (2,998 | ) | 199,164 | ||||||||||||||||||||
Equity securities in financial institutions | 481 | — | (32 | ) | 449 | ||||||||||||||||||||
Total | $ | 199,094 | $ | 3,549 | $ | (3,030 | ) | $ | 199,613 | ||||||||||||||||
The amortized cost and fair value of securities at March 31, 2014, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities and equity securities are shown separately. | |||||||||||||||||||||||||
Available for sale | Amortized Cost | Fair Value | |||||||||||||||||||||||
Due in one year or less | $ | 3,295 | $ | 3,301 | |||||||||||||||||||||
Due after one year through five years | 21,404 | 21,295 | |||||||||||||||||||||||
Due after five years through ten years | 33,930 | 34,409 | |||||||||||||||||||||||
Due after ten years | 75,260 | 76,711 | |||||||||||||||||||||||
Mortgage-backed securities | 67,116 | 67,800 | |||||||||||||||||||||||
Equity securities | 481 | 481 | |||||||||||||||||||||||
Total securities available for sale | $ | 201,486 | $ | 203,997 | |||||||||||||||||||||
Proceeds from sales of securities, gross realized gains and gross realized losses were as follows. | |||||||||||||||||||||||||
Three months ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Sale proceeds | $ | 15,013 | $ | 516 | |||||||||||||||||||||
Gross realized gains | 4 | 14 | |||||||||||||||||||||||
Gross realized losses | — | — | |||||||||||||||||||||||
Gains from securities called or settled by the issuer | — | 3 | |||||||||||||||||||||||
Securities were pledged to secure public deposits, other deposits and liabilities as required by law. The carrying value of pledged securities was approximately $148,803 and $147,625 as of March 31, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||
Securities with unrealized losses at March 31, 2014 and December 31, 2013 not recognized in income are as follows: | |||||||||||||||||||||||||
March 31, 2014 | 12 Months or less | More than 12 months | Total | ||||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 34,017 | $ | (534 | ) | $ | — | $ | — | $ | 34,017 | $ | (534 | ) | |||||||||||
Obligations of states and political subdivisions | 18,620 | (824 | ) | 2,890 | (186 | ) | 21,510 | (1,010 | ) | ||||||||||||||||
Mortgage-backed securities in gov’t sponsored entities | 29,723 | (379 | ) | 3,049 | (18 | ) | 32,772 | (397 | ) | ||||||||||||||||
Total temporarily impaired | $ | 82,360 | $ | (1,737 | ) | $ | 5,939 | $ | (204 | ) | $ | 88,299 | $ | (1,941 | ) | ||||||||||
December 31, 2013 | 12 Months or less | More than 12 months | Total | ||||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 30,800 | $ | (764 | ) | $ | — | $ | — | $ | 30,800 | $ | (764 | ) | |||||||||||
Obligations of states and political subdivisions | 28,428 | (1,556 | ) | 968 | (121 | ) | 29,396 | (1,677 | ) | ||||||||||||||||
Mortgage-backed securities in gov’t sponsored entities | 32,557 | (553 | ) | 279 | (4 | ) | 32,836 | (557 | ) | ||||||||||||||||
Equity securities in financial institutions | 449 | (32 | ) | — | — | 449 | (32 | ) | |||||||||||||||||
Total temporarily impaired | $ | 92,234 | $ | (2,905 | ) | $ | 1,247 | $ | (125 | ) | $ | 93,481 | $ | (3,030 | ) | ||||||||||
At March 31, 2014 there were seventy-two securities in the portfolio with unrealized losses mainly due to higher market rates when compared to the time of purchase. Unrealized losses on securities have not been recognized into income because the issuers’ securities are of high credit quality, management has the intent and ability to hold these securities for the foreseeable future, and the decline in fair value is largely due to market yields increasing across the municipal sector. The fair value is expected to recover as the securities approach their maturity date or reset date. The Company does not intend to sell until recovery and does not believe selling will be required before recovery. |
Loans
Loans | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Receivables [Abstract] | ' | ||||||||
Loans | ' | ||||||||
(4) Loans | |||||||||
Loan balances were as follows: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Commercial and agriculture | $ | 103,365 | $ | 115,875 | |||||
Commercial real estate | 440,824 | 443,846 | |||||||
Residential real estate | 249,292 | 250,691 | |||||||
Real estate construction | 52,788 | 39,964 | |||||||
Consumer and other | 11,099 | 10,865 | |||||||
Total loans | 857,368 | 861,241 | |||||||
Allowance for loan losses | (16,767 | ) | (16,528 | ) | |||||
Net loans | $ | 840,601 | $ | 844,713 | |||||
Allowance_for_Loan_Losses
Allowance for Loan Losses | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||
(5) Allowance for Loan Losses | |||||||||||||||||||||||||||||
Management has an established methodology to determine the adequacy of the allowance for loan losses that assesses the risks and losses inherent in the loan portfolio. For purposes of determining the allowance for loan losses, the Company has segmented certain loans in the portfolio by product type. Historical loss percentages for each risk category are calculated and used as the basis for calculating loan loss allowance allocations. These historical loss percentages are calculated over a two-year period for all portfolio segments. Certain economic factors are also considered for trends which management uses to establish the directionality of changes to the unallocated portion of the reserve. The following economic factors are analyzed: | |||||||||||||||||||||||||||||
• | Changes in lending policies and procedures | ||||||||||||||||||||||||||||
• | Changes in experience and depth of lending and management staff | ||||||||||||||||||||||||||||
• | Changes in quality of Citizens’ credit review system | ||||||||||||||||||||||||||||
• | Changes in nature and volume of the loan portfolio | ||||||||||||||||||||||||||||
• | Changes in past due, classified and nonaccrual loans and TDRs | ||||||||||||||||||||||||||||
• | Changes in economic and business conditions | ||||||||||||||||||||||||||||
• | Changes in competition or legal and regulatory requirements | ||||||||||||||||||||||||||||
• | Changes in concentrations within the loan portfolio | ||||||||||||||||||||||||||||
• | Changes in the underlying collateral for collateral dependent loans | ||||||||||||||||||||||||||||
The total allowance reflects management’s estimate of loan losses inherent in the loan portfolio at the balance sheet date. The Company considers the allowance for loan losses of $16,767 adequate to cover loan losses inherent in the loan portfolio, at March 31, 2014. The following tables present, by portfolio segment, the changes in the allowance for loan losses and the loan balances outstanding for the three months ended March 31, 2014 and 2013. | |||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and other | |||||||||||||||||||||||||
For the three months ending March 31, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 2,841 | $ | 7,559 | $ | 5,224 | $ | 184 | $ | 214 | $ | 506 | $ | 16,528 | |||||||||||||||
Charge-offs | (229 | ) | (74 | ) | (317 | ) | — | (32 | ) | — | (652 | ) | |||||||||||||||||
Recoveries | 58 | 17 | 49 | 1 | 16 | — | 141 | ||||||||||||||||||||||
Provision | (63 | ) | 495 | 94 | 110 | 41 | 73 | 750 | |||||||||||||||||||||
Ending Balance | $ | 2,607 | $ | 7,997 | $ | 5,050 | $ | 295 | $ | 239 | $ | 579 | $ | 16,767 | |||||||||||||||
For the three months ended March 31, 2014, the allowance for Commercial & Agriculture loans was reduced not only by charge-offs, but also due to a decrease in both the loan balances outstanding and the specific reserve required for this type. The net result of these changes was represented as a decrease in the provision. The increase in the allowance for Commercial Real Estate was the result of increased specific reserves. | |||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and other | |||||||||||||||||||||||||
For the three months ending March 31, 2013 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 2,811 | $ | 10,139 | $ | 5,780 | $ | 349 | $ | 246 | $ | 417 | $ | 19,742 | |||||||||||||||
Charge-offs | — | (312 | ) | (487 | ) | — | (82 | ) | — | (881 | ) | ||||||||||||||||||
Recoveries | 41 | 90 | 156 | 52 | 10 | — | 349 | ||||||||||||||||||||||
Provision | 85 | 7 | (35 | ) | (87 | ) | 51 | 479 | 500 | ||||||||||||||||||||
Ending Balance | $ | 2,937 | $ | 9,924 | $ | 5,414 | $ | 314 | $ | 225 | $ | 896 | $ | 19,710 | |||||||||||||||
For the three months ended March 31, 2013, the allowances for Residential Real Estate loans was reduced not only by charge-offs, but also due to a decrease in both the loan balances outstanding and the historical charge-offs for this type. The net result of these changes was a reduction in the allowance for these loan types and is represented as a decrease in the provision. The allowance for Real Estate Construction loans was reduced as a result of changes to specific reserves required. The result of this change was represented as a decrease in the provision. | |||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and other | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,172 | $ | 1,092 | $ | 770 | $ | — | $ | — | $ | — | $ | 3,034 | |||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 1,435 | $ | 6,905 | $ | 4,280 | $ | 295 | $ | 239 | $ | 579 | $ | 13,733 | |||||||||||||||
Ending Balance | $ | 2,607 | $ | 7,997 | $ | 5,050 | $ | 295 | $ | 239 | $ | 579 | $ | 16,767 | |||||||||||||||
Loan balances outstanding: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,751 | $ | 10,729 | $ | 3,792 | $ | — | $ | 7 | $ | 19,279 | |||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 98,614 | $ | 430,095 | $ | 245,500 | $ | 52,788 | $ | 11,092 | $ | 838,089 | |||||||||||||||||
Ending Balance | $ | 103,365 | $ | 440,824 | $ | 249,292 | $ | 52,788 | $ | 11,099 | $ | 857,368 | |||||||||||||||||
Commercial | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and other | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,262 | $ | 445 | $ | 802 | $ | — | $ | — | $ | — | $ | 2,509 | |||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 1,579 | $ | 7,114 | $ | 4,422 | $ | 184 | $ | 214 | $ | 506 | $ | 14,019 | |||||||||||||||
Ending Balance | $ | 2,841 | $ | 7,559 | $ | 5,224 | $ | 184 | $ | 214 | $ | 506 | $ | 16,528 | |||||||||||||||
Loan balances outstanding: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,869 | $ | 10,175 | $ | 4,005 | $ | — | $ | 8 | $ | 18,057 | |||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 112,006 | $ | 433,671 | $ | 246,686 | $ | 39,964 | $ | 10,857 | $ | 843,184 | |||||||||||||||||
Ending Balance | $ | 115,875 | $ | 443,846 | $ | 250,691 | $ | 39,964 | $ | 10,865 | $ | 861,241 | |||||||||||||||||
The following tables present credit exposures by internally assigned grades for the period ended March 31, 2014 and December 31, 2013. The risk rating analysis estimates the capability of the borrower to repay the contractual obligations of the loan agreements as scheduled or at all. The Company’s internal credit risk grading system is based on experiences with similarly graded loans. | |||||||||||||||||||||||||||||
The Company’s internally assigned grades are as follows: | |||||||||||||||||||||||||||||
• | Pass – loans which are protected by the current net worth and paying capacity of the obligor or by the value of the underlying collateral. | ||||||||||||||||||||||||||||
• | Special Mention – loans where a potential weakness or risk exists, which could cause a more serious problem if not corrected. | ||||||||||||||||||||||||||||
• | Substandard – loans that have a well-defined weakness based on objective evidence and are characterized by the distinct possibility that Citizens will sustain some loss if the deficiencies are not corrected. | ||||||||||||||||||||||||||||
• | Doubtful – loans classified as doubtful have all the weaknesses inherent in a substandard asset. In addition, these weaknesses make collection or liquidation in full highly questionable and improbable, based on existing circumstances. | ||||||||||||||||||||||||||||
• | Loss – loans classified as a loss are considered uncollectible, or of such value that continuance as an asset is not warranted. | ||||||||||||||||||||||||||||
Generally, Residential Real Estate, Real Estate Construction and Consumer loans are not risk-graded, except when collateral is used for a business purpose. | |||||||||||||||||||||||||||||
March 31, 2014 | Commercial | Commercial | Residential | Real Estate | Consumer | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
Pass | $ | 95,096 | $ | 414,126 | $ | 95,706 | $ | 48,326 | $ | 614 | $ | 653,868 | |||||||||||||||||
Special Mention | 601 | 7,486 | 870 | 21 | — | 8,978 | |||||||||||||||||||||||
Substandard | 7,668 | 19,212 | 8,197 | — | 73 | 35,150 | |||||||||||||||||||||||
Doubtful | — | — | 2,193 | — | — | 2,193 | |||||||||||||||||||||||
Ending Balance | $ | 103,365 | $ | 440,824 | $ | 106,966 | $ | 48,347 | $ | 687 | $ | 700,189 | |||||||||||||||||
December 31, 2013 | Commercial | Commercial | Residential | Real Estate | Consumer | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
Pass | $ | 107,923 | $ | 415,938 | $ | 98,700 | $ | 35,495 | $ | 2,252 | $ | 660,308 | |||||||||||||||||
Special Mention | 2,038 | 9,145 | 986 | 21 | — | 12,190 | |||||||||||||||||||||||
Substandard | 5,914 | 18,763 | 8,175 | — | 70 | 32,922 | |||||||||||||||||||||||
Doubtful | — | — | 2,349 | — | — | 2,349 | |||||||||||||||||||||||
Ending Balance | $ | 115,875 | $ | 443,846 | $ | 110,210 | $ | 35,516 | $ | 2,322 | $ | 707,769 | |||||||||||||||||
The following tables present performing and nonperforming loans based solely on payment activity for the period ended March 31, 2014 and December 31, 2013 that have not been assigned an internal risk grade. The types of loans presented here are not assigned a risk grade unless there is evidence of a problem. Payment activity is reviewed by management on a monthly basis to evaluate performance. Loans are considered to be nonperforming when they become 90 days past due or if management thinks that we may not collect all of our principal and interest. Nonperforming loans may also include certain loans that have been modified in Troubled Debt Restructurings (TDRs) where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Company’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance or other actions due to economic status. Certain TDRs are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months. | |||||||||||||||||||||||||||||
Residential | Real Estate | Consumer | Total | ||||||||||||||||||||||||||
Real Estate | Construction | ||||||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||
Performing | $ | 142,326 | $ | 4,441 | $ | 10,412 | $ | 157,179 | |||||||||||||||||||||
Nonperforming | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 142,326 | $ | 4,441 | $ | 10,412 | $ | 157,179 | |||||||||||||||||||||
Residential | Real Estate | Consumer | Total | ||||||||||||||||||||||||||
Real Estate | Construction | ||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Performing | $ | 140,481 | $ | 4,448 | $ | 8,543 | $ | 153,472 | |||||||||||||||||||||
Nonperforming | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 140,481 | $ | 4,448 | $ | 8,543 | $ | 153,472 | |||||||||||||||||||||
The following tables includes an aging analysis of the recorded investment of past due loans outstanding as of March 31, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
March 31, 2014 | 30-59 | 60-89 | 90 Days or | Total Past | Current | Total Loans | Past Due | ||||||||||||||||||||||
Days | Days | Greater | Due | 90 Days | |||||||||||||||||||||||||
Past Due | Past Due | and | |||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Commercial & Agriculture | $ | 1,292 | $ | 230 | $ | 122 | $ | 1,644 | $ | 101,721 | $ | 103,365 | $ | — | |||||||||||||||
Commercial Real Estate | 1,004 | 371 | 1,491 | 2,866 | 437,958 | 440,824 | — | ||||||||||||||||||||||
Residential Real Estate | 3,114 | 430 | 5,041 | 8,585 | 240,707 | 249,292 | 21 | ||||||||||||||||||||||
Real Estate Construction | — | — | — | — | 52,788 | 52,788 | — | ||||||||||||||||||||||
Consumer and other | 62 | 10 | 4 | 76 | 11,023 | 11,099 | — | ||||||||||||||||||||||
Total | $ | 5,472 | $ | 1,041 | $ | 6,658 | $ | 13,171 | $ | 844,197 | $ | 857,368 | $ | 21 | |||||||||||||||
December 31, 2013 | 30-59 | 60-89 | 90 Days or | Total Past | Current | Total Loans | Past Due | ||||||||||||||||||||||
Days | Days | Greater | Due | 90 Days | |||||||||||||||||||||||||
Past Due | Past Due | and | |||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Commercial & Agriculture | $ | 105 | $ | — | $ | 443 | $ | 548 | $ | 115,327 | $ | 115,875 | $ | — | |||||||||||||||
Commercial Real Estate | 655 | 201 | 2,098 | 2,954 | 440,892 | 443,846 | — | ||||||||||||||||||||||
Residential Real Estate | 3,140 | 1,084 | 5,531 | 9,755 | 240,936 | 250,691 | — | ||||||||||||||||||||||
Real Estate Construction | — | — | — | — | 39,964 | 39,964 | — | ||||||||||||||||||||||
Consumer and other | 170 | 20 | — | 190 | 10,675 | 10,865 | — | ||||||||||||||||||||||
Total | $ | 4,070 | $ | 1,305 | $ | 8,072 | $ | 13,447 | $ | 847,794 | $ | 861,241 | $ | — | |||||||||||||||
Nonaccrual Loans: Loans are considered for nonaccrual status upon reaching 90 days delinquency, unless the loan is well secured and in the process of collection, although the Company may be receiving partial payments of interest and partial repayments of principal on such loans. When a loan is placed on nonaccrual status, previously accrued but unpaid interest is deducted from interest income. | |||||||||||||||||||||||||||||
The following table presents loans on nonaccrual status as of March 31, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
Commercial & Agriculture | $ | 2,438 | $ | 1,590 | |||||||||||||||||||||||||
Commercial Real Estate | 9,521 | 9,609 | |||||||||||||||||||||||||||
Residential Real Estate | 9,171 | 9,210 | |||||||||||||||||||||||||||
Real Estate Construction | — | — | |||||||||||||||||||||||||||
Consumer | 54 | 50 | |||||||||||||||||||||||||||
Total | $ | 21,184 | $ | 20,459 | |||||||||||||||||||||||||
Loan modifications that are considered TDRs completed during the three-month periods ended March 31, 2014 and March 31, 2013 were as follows: | |||||||||||||||||||||||||||||
For the Three-Month Period Ended | For the Three-Month Period Ended | ||||||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||||||||
Number | Pre- | Post- | Number | Pre- | Post- | ||||||||||||||||||||||||
of | Modification | Modification | of | Modification | Modification | ||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Contracts | Outstanding | Outstanding | ||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | ||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | ||||||||||||||||||||||||||
Commercial & Agriculture | — | $ | — | $ | — | — | $ | — | $ | — | |||||||||||||||||||
Commercial Real Estate | — | — | — | 1 | 125 | 125 | |||||||||||||||||||||||
Residential Real Estate | 2 | 149 | 49 | — | — | — | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | — | — | — | — | — | — | |||||||||||||||||||||||
Total Loan Modifications | 2 | $ | 149 | $ | 49 | 1 | $ | 125 | $ | 125 | |||||||||||||||||||
Recidivism, or the borrower defaulting on its obligation pursuant to a modified loan, results in the loan once again becoming a non-accrual loan. Recidivism occurs at a notably higher rate than defaults on new origination loans, so modified loans present a higher risk of loss than do new origination loans. At March 31, 2014, TDRs accounted for $530 of the allowance for loan losses. | |||||||||||||||||||||||||||||
During the three-month period ended March 31, 2014 and 2013, there were no defaults on any loans which were modified and considered TDRs during the twelve months previous to the three-month period ending March 31, 2014 and 2013. | |||||||||||||||||||||||||||||
Impaired Loans: Larger (greater than $350) Commercial loans and Commercial Real Estate loans, many of which are 60 days or more past due, are tested for impairment. These loans are analyzed to determine if it is probable that all amounts will not be collected according to the contractual terms of the loan agreement. If management determines that the value of the impaired loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), impairment is recognized through an allowance estimate or a charge-off to the allowance. Additionally, if a Residential Real Estate loan or Consumer loan is part of a relationship with a Commercial loan or Commercial Real Estate loan that is impaired, then the Residential Real Estate loan or Consumer loan is considered impaired as well. | |||||||||||||||||||||||||||||
The following tables include the recorded investment and unpaid principal balances for impaired financing receivables with the associated allowance amount, if applicable, as of March 31, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Recorded | Unpaid | Related | ||||||||||||||||||||||||
Investment | Principal | Allowance | Investment | Principal | Allowance | ||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial & Agriculture | $ | 1,491 | $ | 1,792 | $ | — | $ | 1,525 | $ | 1,657 | $ | — | |||||||||||||||||
Commercial Real Estate | 7,517 | 7,909 | — | 5,983 | 6,214 | — | |||||||||||||||||||||||
Residential Real Estate | 274 | 1,548 | — | 1,202 | 2,263 | — | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | 7 | 7 | — | 8 | 8 | — | |||||||||||||||||||||||
Total | 9,289 | 11,256 | — | 8,718 | 10,142 | — | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial & Agriculture | 3,260 | 3,408 | 1,172 | 2,344 | 2,437 | 1,262 | |||||||||||||||||||||||
Commercial Real Estate | 3,212 | 3,391 | 1,092 | 4,192 | 4,496 | 445 | |||||||||||||||||||||||
Residential Real Estate | 3,518 | 4,728 | 770 | 2,803 | 4,021 | 802 | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | — | — | — | — | — | — | |||||||||||||||||||||||
Total | 9,990 | 11,527 | 3,034 | 9,339 | 10,954 | 2,509 | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial & Agriculture | 4,751 | 5,200 | 1,172 | 3,869 | 4,094 | 1,262 | |||||||||||||||||||||||
Commercial Real Estate | 10,729 | 11,300 | 1,092 | 10,175 | 10,710 | 445 | |||||||||||||||||||||||
Residential Real Estate | 3,792 | 6,276 | 770 | 4,005 | 6,284 | 802 | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | 7 | 7 | — | 8 | 8 | — | |||||||||||||||||||||||
Total | $ | 19,279 | $ | 22,783 | $ | 3,034 | $ | 18,057 | $ | 21,096 | $ | 2,509 | |||||||||||||||||
The following tables include the average recorded investment and interest income recognized for impaired financing receivables for the three-month periods ended March 31, 2014 and 2013. | |||||||||||||||||||||||||||||
For the three months ended: | March 31, 2014 | March 31, 2013 | |||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||
Commercial & Agriculture | $ | 4,310 | $ | 65 | $ | 5,301 | $ | 68 | |||||||||||||||||||||
Commercial Real Estate | 10,569 | 147 | 13,584 | 205 | |||||||||||||||||||||||||
Residential Real Estate | 3,782 | 92 | 5,876 | 143 | |||||||||||||||||||||||||
Real Estate Construction | — | — | 514 | 5 | |||||||||||||||||||||||||
Consumer and Other | 7 | — | 50 | — | |||||||||||||||||||||||||
Total | $ | 18,668 | $ | 304 | $ | 25,325 | $ | 421 | |||||||||||||||||||||
Other_Comprehensive_Income
Other Comprehensive Income | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Other Comprehensive Income | ' | ||||||||||||||||||||||||
(6) Other Comprehensive Income | |||||||||||||||||||||||||
The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, for the three-month period ended March 31, 2014 and 2013: | |||||||||||||||||||||||||
For the Three-Month Period Ended | For the Three-Month Period Ended | ||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||||
Unrealized | Defined | Total | Unrealized | Defined | Total | ||||||||||||||||||||
Gains and | Benefit | Gains and | Benefit | ||||||||||||||||||||||
Losses on | Pension | Losses on | Pension | ||||||||||||||||||||||
Available-for- | Items | Available-for- | Items | ||||||||||||||||||||||
Sale | Sale | ||||||||||||||||||||||||
Securities | Securities | ||||||||||||||||||||||||
Beginning balance | $ | 341 | $ | (4,588 | ) | $ | (4,247 | ) | $ | 5,849 | $ | (7,496 | ) | $ | (1,647 | ) | |||||||||
Other comprehensive loss before reclassifications | 1,318 | — | 1,318 | (412 | ) | — | (412 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | (3 | ) | 28 | 25 | (11 | ) | 104 | 93 | |||||||||||||||||
Net current-period other comprehensive income (loss) | 1,315 | 28 | 1,343 | (423 | ) | 104 | (319 | ) | |||||||||||||||||
Ending balance | $ | 1,656 | $ | (4,560 | ) | $ | (2,904 | ) | $ | 5,426 | $ | (7,392 | ) | $ | (1,966 | ) | |||||||||
Amounts in parentheses indicate debits. | |||||||||||||||||||||||||
The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss for the three-month periods ended March 31, 2014 and 2013: | |||||||||||||||||||||||||
Amount Reclassified from | |||||||||||||||||||||||||
Accumulated Other Comprehensive | |||||||||||||||||||||||||
Loss (a) | |||||||||||||||||||||||||
Details about Accumulated Other Comprehensive | For the three | For the three | Affected Line Item in the | ||||||||||||||||||||||
(Loss) Components | months ended | months ended | Statement Where Net Income | ||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | is Presented | |||||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities | $ | 4 | $ | 17 | Net gain on sale of securities | ||||||||||||||||||||
Tax effect | (1 | ) | (6 | ) | Income tax expense | ||||||||||||||||||||
3 | 11 | Net of tax | |||||||||||||||||||||||
Amortization of defined benefit pension items | |||||||||||||||||||||||||
Actuarial gains/(losses) | (43 | )(b) | (158 | )(b) | Salaries, wages and benefits | ||||||||||||||||||||
Tax effect | 15 | 54 | Income tax expense | ||||||||||||||||||||||
(28 | ) | (104 | ) | Net of tax | |||||||||||||||||||||
Total reclassifications for the period | $ | (25 | ) | $ | (93 | ) | Net of tax | ||||||||||||||||||
(a) | Amounts in parentheses indicate debits to profit/loss. | ||||||||||||||||||||||||
(b) | These accumulated other comprehensive income components are included in the computation of net periodic pension cost. |
Earnings_per_Common_Share
Earnings per Common Share | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Earnings per Common Share | ' | ||||||||
(7) Earnings per Common Share | |||||||||
Basic earnings per share are net income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under stock options, computed using the treasury stock method and the impact of the Company’s convertible preferred stock using the “if converted” method. | |||||||||
Three months ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Basic | |||||||||
Net income | $ | 2,712 | $ | 1,913 | |||||
Preferred stock dividends and discount accretion | 655 | 290 | |||||||
Net income available to common shareholders | $ | 2,057 | $ | 1,623 | |||||
Weighted average common shares outstanding | 7,707,917 | 7,707,917 | |||||||
Basic earnings per common share | $ | 0.27 | $ | 0.21 | |||||
Diluted | |||||||||
Net income available to common shareholders - basic | $ | 2,057 | $ | 1,623 | |||||
Convertible preferred stock dividends | 388 | — | |||||||
Net income available to common shareholders - diluted | $ | 2,445 | $ | 1,623 | |||||
Weighted average common shares outstanding for basic earnings per common share | 7,707,917 | 7,707,917 | |||||||
Add: Dilutive effects of convertible preferred stock | 3,196,931 | — | |||||||
Add: Dilutive effects of assumed exercises of stock options | — | — | |||||||
Average shares and dilutive potential common shares outstanding | 10,904,848 | 7,707,917 | |||||||
Diluted earnings per common share | $ | 0.22 | $ | 0.21 | |||||
Stock options for 10,000 common shares that have an exercise price of $35.00 were not considered in computing diluted earnings per common share for the three-month period ended March 31, 2013 because they were anti-dilutive. There were no stock options outstanding during the three-month period ended March 31, 2014. | |||||||||
For the three-month period ended March 31, 2014 there were 3,196,931 dilutive shares related to the Company’s convertible preferred stock. Under the “if converted” method, all convertible preferred shares are assumed to be converted into common shares at the corresponding conversion rate. These additional shares are then added to the common shares outstanding to calculate diluted earnings per share. |
Commitments_Contingencies_and_
Commitments, Contingencies and Off-Balance Sheet Risk | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||||||
Commitments, Contingencies and Off-Balance Sheet Risk | ' | ||||||||||||||||
(8) Commitments, Contingencies and Off-Balance Sheet Risk | |||||||||||||||||
Some financial instruments, such as loan commitments, credit lines, letters of credit and overdraft protection, are issued to meet customers’ financing needs. These are agreements to provide credit or to support the credit of others, as long as the conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk of 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 commitment. The contractual amounts of financial instruments with off-balance-sheet risk were as follows for March 31, 2014 and December 31, 2013: | |||||||||||||||||
Contract Amount | |||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
Fixed | Variable | Fixed | Variable | ||||||||||||||
Rate | Rate | Rate | Rate | ||||||||||||||
Commitment to extend credit: | |||||||||||||||||
Lines of credit and construction loans | $ | 10,740 | $ | 165,390 | $ | 11,866 | $ | 151,332 | |||||||||
Overdraft protection | 19 | 24,715 | 18 | 21,084 | |||||||||||||
Letters of credit | 200 | 742 | 200 | 2,411 | |||||||||||||
$ | 10,959 | $ | 190,847 | $ | 12,084 | $ | 174,827 | ||||||||||
Commitments to make loans are generally made for a period of one year or less. Fixed rate loan commitments included in the table above had interest rates ranging from 2.25% to 15.00% at March 31, 2014 and December 31, 2013, respectively. Maturities extend up to 30 years. | |||||||||||||||||
Citizens is required to maintain certain reserve balances on hand in accordance with the Federal Reserve Board requirements. The average reserve balance maintained in accordance with such requirements was $11,078 on March 31, 2014 and $2,959 on December 31, 2013. |
Pension_Information
Pension Information | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||
Pension Information | ' | ||||||||
(9) Pension Information | |||||||||
The Company also sponsors a pension plan which is a noncontributory defined benefit retirement plan for all employees who have attained the age of 20 1⁄2, completed six months of service and work 1,000 or more hours per year. Annual payments, subject to the maximum amount deductible for federal income tax purposes, are made to a pension trust fund. In 2006, the Company amended the pension plan to provide that no employee could be added as a participant to the pension plan after December 31, 2006. In 2014 the Company amended the pension plan again to provide that no additional benefits would accrue beyond April 30, 2014. | |||||||||
Net periodic pension expense was as follows: | |||||||||
Three months ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Service cost | $ | 76 | $ | 273 | |||||
Interest cost | 180 | 201 | |||||||
Expected return on plan assets | (280 | ) | (219 | ) | |||||
Net amortization | 43 | 158 | |||||||
Net periodic pension cost | $ | 19 | $ | 413 | |||||
The total amount of contributions expected to be paid by the Company in 2014 is $945, compared to $4,900 in 2013. The 2013 contribution included $3,000 related to settlements of several retirements. |
Stock_Options
Stock Options | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||
Stock Options | ' | ||||||||
(10) Stock Options | |||||||||
The Company’s Stock Option and Stock Appreciation Rights Plan (“Stock Option Plan”) authorized the Company to grant options to buy up to an aggregate of 225,000 common shares of the Company to directors, officers and employees of the Company. The exercise price of stock options granted under the Stock Option Plan was based on the market price of the Company’s common shares at the date of grant, the maximum option term was ten years, and options normally vested after three years. The Stock Option Plan expired in 2010, and no further stock options or other awards may be granted by the Company under the Stock Option Plan. | |||||||||
Additionally, all options outstanding under the plan expired on April 12, 2013 and there were no new options issued during 2014. | |||||||||
A summary of the activity in the plan is as follows: | |||||||||
Three months ended | |||||||||
March 31, 2013 | |||||||||
Total options | |||||||||
outstanding | |||||||||
Shares | Weighted | ||||||||
Average | |||||||||
Price | |||||||||
Per Share | |||||||||
Outstanding at beginning of year | 10,000 | $ | 35 | ||||||
Granted | — | — | |||||||
Exercised | — | — | |||||||
Forfeited | — | — | |||||||
Expired | — | — | |||||||
Options outstanding, end of period | 10,000 | $ | 35 | ||||||
Options exercisable, end of period | 10,000 | $ | 35 | ||||||
The intrinsic value for stock options is calculated based on the exercise price of the underlying awards and the market price of our common shares as of the reporting date. As of March 31, 2013, there were no options that had intrinsic value. |
Fair_Value_Measurement
Fair Value Measurement | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurement | ' | ||||||||||||||||||||
(11) Fair Value Measurement | |||||||||||||||||||||
The Company uses a fair value hierarchy to measure fair value. This hierarchy describes three levels of inputs that may be used to measure fair value. Level 1: Quoted prices for identical assets in active markets that are identifiable on the measurement date; Level 2: Significant other observable inputs, such as quoted prices for similar assets, quoted prices in markets that are not active and other inputs that are observable or can be corroborated by observable market data; Level 3: Significant unobservable inputs that reflect the Company’s own view about the assumptions that market participants would use in pricing an asset. | |||||||||||||||||||||
Debt securities: The fair values of securities available for sale are determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). | |||||||||||||||||||||
Equity securities: The Company’s equity securities are not actively traded in an open market. The fair values of these equity securities available for sale is determined by using market data inputs for similar securities that are observable (Level 2 inputs). | |||||||||||||||||||||
Impaired loans: The fair values of impaired loans are determined using the fair values of collateral for collateral dependent loans, or discounted cash flows. The Company uses independent appraisals, discounted cash flow models and other available data to estimate the fair value of collateral (Level 3 inputs). | |||||||||||||||||||||
Other real estate owned: The fair value of other real estate owned is determined using the fair value of collateral. The Company uses appraisals and other available data to estimate the fair value of collateral (Level 3 inputs). The appraised values are discounted to represent an estimated value in a distressed sale. Additionally, estimated costs to sell the property are used to further adjust the value. | |||||||||||||||||||||
Assets measured at fair value are summarized below. | |||||||||||||||||||||
Fair Value Measurements at March 31, 2014 Using: | |||||||||||||||||||||
Assets: | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets measured at fair value on a recurring basis: | |||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. Government agencies | $ | — | $ | 52,406 | $ | — | |||||||||||||||
Obligations of states and political subdivisions | — | 83,310 | — | ||||||||||||||||||
Mortgage-backed securities in government sponsored entities | — | 67,800 | — | ||||||||||||||||||
Equity securities in financial institutions | — | 481 | — | ||||||||||||||||||
Assets measured at fair value on a nonrecurring basis: | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 16,245 | |||||||||||||||
Other real estate owned | — | — | 196 | ||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||||||
Assets: | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets measured at fair value on a recurring basis: | |||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. Government agencies | $ | — | $ | 51,560 | $ | — | |||||||||||||||
Obligations of states and political subdivisions | — | 80,625 | — | ||||||||||||||||||
Mortgage-backed securities in government sponsored entities | — | 66,979 | — | ||||||||||||||||||
Equity securities in financial institutions | — | 449 | — | ||||||||||||||||||
Assets measured at fair value on a nonrecurring basis: | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 15,548 | |||||||||||||||
Other real estate owned | — | — | 173 | ||||||||||||||||||
The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at March 31, 2014. | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
March 31, 2014 | Fair Value | Valuation Technique | Unobservable Input | Range | |||||||||||||||||
Estimate | |||||||||||||||||||||
Impaired loans | $ | 16,245 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 0% - 10% | ||||||||||||||||||||
Holding period | 0 - 30 months | ||||||||||||||||||||
Discounted cash flows | Discount rates | 3.8% - 8.0% | |||||||||||||||||||
Other real estate owned | $ | 196 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 0% - 10% | ||||||||||||||||||||
The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2013. | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
December 31, 2013 | Fair Value | Valuation Technique | Unobservable Input | Range | |||||||||||||||||
Estimate | |||||||||||||||||||||
Impaired loans | $ | 15,548 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 0% - 10% | ||||||||||||||||||||
Holding period | 0 - 30 months | ||||||||||||||||||||
Discounted cash flows | Discount rates | 2% - 8.5% | |||||||||||||||||||
Other real estate owned | $ | 173 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 0% - 10% | ||||||||||||||||||||
The carrying amount and fair values of financial instruments are as follows. | |||||||||||||||||||||
March 31, 2014 | Carrying | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from financial institutions | $ | 119,715 | $ | 119,715 | $ | 119,715 | $ | — | $ | — | |||||||||||
Securities available for sale | 203,997 | 203,997 | — | 203,997 | — | ||||||||||||||||
Other securities | 12,414 | 12,414 | 12,414 | — | — | ||||||||||||||||
Loans, held for sale | 545 | 545 | 545 | — | — | ||||||||||||||||
Loans, net of allowance for loan losses | 840,601 | 857,601 | — | — | 857,601 | ||||||||||||||||
Bank owned life insurance | 19,275 | 19,275 | 19,275 | — | — | ||||||||||||||||
Accrued interest receivable | 4,202 | 4,202 | 4,202 | — | — | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Nonmaturing deposits | 813,492 | 813,492 | 813,492 | — | — | ||||||||||||||||
Time deposits | 231,328 | 233,610 | — | — | 233,610 | ||||||||||||||||
Federal Home Loan Bank advances | 37,717 | 38,004 | — | — | 38,004 | ||||||||||||||||
Securities sold under agreement to repurchase | 17,949 | 17,949 | 17,949 | — | — | ||||||||||||||||
Subordinated debentures | 29,427 | 22,078 | — | — | 22,078 | ||||||||||||||||
Accrued interest payable | 151 | 151 | 151 | — | — | ||||||||||||||||
December 31, 2013 | Carrying | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from financial institutions | $ | 33,883 | $ | 33,883 | $ | 33,883 | $ | — | $ | — | |||||||||||
Securities available for sale | 199,613 | 199,613 | — | 199,613 | — | ||||||||||||||||
Other securities | 15,424 | 15,424 | 15,424 | — | — | ||||||||||||||||
Loans, held for sale | 438 | 438 | 438 | — | — | ||||||||||||||||
Loans, net of allowance for loan losses | 844,713 | 861,252 | — | — | 861,252 | ||||||||||||||||
Bank owned life insurance | 19,145 | 19,145 | 19,145 | — | — | ||||||||||||||||
Accrued interest receivable | 3,881 | 3,881 | 3,881 | — | — | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Nonmaturing deposits | 706,126 | 706,126 | 706,126 | — | — | ||||||||||||||||
Time deposits | 236,349 | 237,837 | — | — | 237,837 | ||||||||||||||||
Federal Home Loan Bank advances | 37,726 | 38,767 | — | — | 38,767 | ||||||||||||||||
Securities sold under agreement to repurchase | 20,053 | 20,053 | 20,053 | — | — | ||||||||||||||||
Subordinated debentures | 29,427 | 20,605 | — | — | 20,605 | ||||||||||||||||
Accrued interest payable | 156 | 156 | 156 | — | — | ||||||||||||||||
Cash and due from financial institutions: The carrying amounts for cash and due from financial institutions approximate fair value because they have original maturities of less than 90 days and do not present unanticipated credit concerns. | |||||||||||||||||||||
Securities available for sale: The fair value of securities are determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). For equity securities, management uses market information related to the value of similar institutions to determine the fair value (Level 2 inputs). | |||||||||||||||||||||
Other securities: The carrying value of regulatory stock approximates fair value based on applicable redemption provisions. | |||||||||||||||||||||
Loans, held-for-sale: Loans held for sale are priced individually at market rates on the day that the loan is locked for commitment to an investor. Because the holding period of such loans is typically short, the carrying value generally approximates the fair value at the time the commitment is received. All loans in the held-for-sale account conform to Fannie Mae underwriting guidelines, with specific intent of the loan being purchased by an investor at the predetermined rate structure. | |||||||||||||||||||||
Loans, net of allowance for loan losses: Fair values for loans, other than impaired, are estimated for portfolios of loans with similar financial characteristics. The fair value of performing loans has been estimated by discounting expected future cash flows of the underlying portfolios. The discount rates used in these calculations are generally derived from the treasury yield curve and are calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate inherent in the loan. The estimated maturity is based on the Company’s historical experience with repayments for each loan classification. Changes in these significant unobservable inputs used in discounted cash flow analysis, such as the discount rate or prepayment speeds, could lead to changes in the underlying fair value. | |||||||||||||||||||||
Bank owned life insurance: The carrying value of bank owned life insurance approximates the fair value based on applicable redemption provisions. | |||||||||||||||||||||
Accrued interest receivable and payable and securities sold under agreements to repurchase: The carrying amounts for accrued interest receivable, accrued interest payable and securities sold under agreements to repurchase approximate fair value because they are generally received or paid in 90 days or less and do not present unanticipated credit concerns. | |||||||||||||||||||||
Deposits: The fair value of deposits with no stated maturity, such as noninterest-bearing demand deposits, savings and NOW accounts, and money market accounts, is equal to the amount payable on demand. | |||||||||||||||||||||
The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rate is estimated using the current market rates currently offered for deposits of similar remaining maturities. | |||||||||||||||||||||
The deposits’ fair value estimates do not include the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market, commonly referred to as the core deposit intangible. | |||||||||||||||||||||
Federal Home Loan Bank (“FHLB”)advances: Rates available to the Company for borrowed funds with similar terms and remaining maturities are used to estimate the fair value of borrowed funds. | |||||||||||||||||||||
Subordinated debentures: The fair value of subordinated debentures is based on the discounted value of contractual cash flows of the underlying debt agreements. The discount rate is estimated using the current rate for the borrowing from the FHLB with the most similar terms. |
Participation_in_the_US_Treasu
Participation in the U.S. Treasury Troubled Asset Relief Program | 3 Months Ended |
Mar. 31, 2014 | |
Equity [Abstract] | ' |
Participation in the U.S. Treasury Troubled Asset Relief Program | ' |
(12) Participation in the U.S. Treasury Troubled Asset Relief Program | |
On January 23, 2009, the Company issued and sold to the U.S. Treasury of 23,184 of newly-issued non-voting preferred shares in conjunction with the Company’s participation in the Troubled Asset Relief Program (TARP). The Company and the U.S. Treasury entered into a Letter Agreement, dated January 23, 2009, including the Securities Purchase Agreement – Standard Terms attached thereto, pursuant to which the Company issued and sold to the U.S. Treasury (1) 23,184 Fixed Rate Cumulative Perpetual Preferred Shares, Series A, each without par value and having a liquidation preference of $1,000 per share (Preferred Shares), and (2) a Warrant to purchase 469,312 common shares of the Company, each without par value, at an exercise price of $7.41 per share. The Warrant had a ten-year term. Under the standardized terms of the preferred shares, cumulative dividends on the Preferred Shares accrued on the liquidation preference at a rate of 5% per annum for the first five years, and would have accrued at a rate of 9% per annum thereafter. The Preferred Shares had no maturity date and ranked senior to the common shares with respect to the payment of dividends and distributions and amounts payable upon liquidation, dissolution and winding up of the Company. The Preferred Shares qualified as Tier 1 capital for regulatory purposes. | |
On July 3, 2012, the U.S. Treasury completed the sale of all 23,184 of the Preferred Shares to various investors pursuant to a modified “Dutch auction” process. On September 5, 2012, the Company completed the repurchase of the Warrant for an aggregate purchase price of $563. | |
On December 19, 2013, the Company completed the sale of 1,000,000 depositary shares, each representing a 1/40th ownership interest in a 6.50% Noncumulative Redeemable Convertible Perpetual Preferred Share, Series B, of the Company, with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share). The Company sold the maximum of 1,000,000 depositary shares in the offering, resulting in gross proceeds to the Company of $25,000. | |
On January 17, 2014, the Company provided notice that it intended to redeem all 23,184 of the Series A Preferred Shares using proceeds from the sale of the depositary shares. The redemption of the Series A Preferred Shares was completed as of February 15, 2014 for an aggregate purchase price of $22,856. |
Consolidated_Financial_Stateme1
Consolidated Financial Statements (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Nature of Operations and Principles of Consolidation | ' |
Nature of Operations and Principles of Consolidation: The Consolidated Financial Statements include the accounts of First Citizens Banc Corp (FCBC) and its wholly-owned subsidiaries: The Citizens Banking Company (Citizens), First Citizens Insurance Agency, Inc., Water Street Properties, Inc. (Water St.) and FC Refund Solutions, Inc (FCRS). FCRS was formed to facilitate payment of individual state and federal income tax refunds. First Citizens Capital LLC (FCC) is wholly-owned by Citizens and holds inter-company debt. The operations of FCC are located in Wilmington, Delaware. First Citizens Investments, Inc. (FCI) is wholly-owned by Citizens and holds and manages its securities portfolio. The operations of FCI are located in Wilmington, Delaware. The above companies together are referred to as the “Company.” Intercompany balances and transactions are eliminated in consolidation. | |
The consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the Company’s financial position as of March 31, 2014 and its results of operations and changes in cash flows for the periods ended March 31, 2014 and 2013 have been made. The accompanying Consolidated Financial Statements have been prepared in accordance with instructions of Form 10-Q, and therefore certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been omitted. The results of operations for the period ended March 31, 2014 are not necessarily indicative of the operating results for the full year. Reference is made to the accounting policies of the Company described in the notes to the financial statements contained in the Company’s 2013 annual report. The Company has consistently followed these policies in preparing this Form 10-Q. | |
The Company provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Franklin, Logan, Madison, Summit, Huron, Ottawa, and Richland. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial, and installment loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. The bank has one concentration to Lessors of Residential Buildings and Dwellings totaling $99,749 million or 11.6 percent of total loans as of March 31, 2014. This portfolio predominantly consists of commercial loans financing multi-family real estate. This segment of the portfolio is stable and has been conservatively underwritten, monitored and managed by experienced commercial lenders. However, the customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area. Other financial instruments that potentially represent concentrations of credit risk include deposit accounts in other financial institutions and Federal Funds sold. First Citizens Insurance Agency, Inc. was formed to allow the Company to participate in commission revenue generated through its third party insurance agreement. Insurance commission revenue was less than 1.0% of total revenue through March 31, 2014. Water St. revenue was less than 1.0% of total revenue through March 31, 2014. Management considers the Company to operate primarily in one reportable segment, banking. | |
Use of Estimates | ' |
Use of Estimates: To prepare financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in financial statements and the disclosures provided, and future results could differ. The allowance for loan losses, impairment of goodwill, fair values of financial instruments, deferred taxes and pension obligations are particularly subject to change. | |
Income Taxes | ' |
Income Taxes: Income tax expense is based on the effective tax rate expected to be applicable for the entire year. Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax basis of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. | |
Reclassifications | ' |
Reclassifications: Some items in the prior year financial statements were reclassified to conform to the current presentation. | |
Adoption of New Accounting Standards | ' |
Adoption of New Accounting Standards: | |
In February 2013, the FASB issued ASU 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The objective of the amendments in this Update is to provide guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. generally accepted accounting principles (GAAP). Examples of obligations within the scope of this Update include debt arrangements, other contractual obligations, and settled litigation and judicial rulings. U.S. GAAP does not include specific guidance on accounting for such obligations with joint and several liability, which has resulted in diversity in practice. Some entities record the entire amount under the joint and several liability arrangements on the basis of the concept of a liability and the guidance that must be met to extinguish a liability. Other entities record less than the total amount of the obligation, such as an amount allocated, an amount corresponding to the proceeds received, or the portion of the amount the entity agreed to pay among its co-obligors, on the basis of the guidance for contingent liabilities. The amendments in this Update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. This Update became effective for the Company on January 1, 2014 and did not have a significant impact on the Company’s financial statements. | |
In April 2013, the FASB issued ASU 2013-07, Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting. The amendments in this Update are being issued to clarify when an entity should apply the liquidation basis of accounting. In addition, the guidance provides principles for the recognition and measurement of assets and liabilities and requirements for financial statements prepared using the liquidation basis of accounting. The amendments require an entity to prepare its financial statements using the liquidation basis of accounting when liquidation is imminent. Liquidation is imminent when the likelihood is remote that the entity will return from liquidation and either (a) a plan for liquidation is approved by the person or persons with the authority to make such a plan effective and the likelihood is remote that the execution of the plan will be blocked by other parties or (b) a plan for liquidation is being imposed by other forces (for example, involuntary bankruptcy). If a plan for liquidation was specified in the entity’s governing documents from the entity’s inception (for example, limited-life entities), the entity should apply the liquidation basis of accounting only if the approved plan for liquidation differs from the plan for liquidation that was specified at the entity’s inception. The amendments are effective for entities that determine liquidation is imminent during annual reporting periods beginning after December 15, 2013, and interim reporting periods therein. Entities should apply the requirements prospectively from the day that liquidation becomes imminent. Early adoption is permitted. Entities that use the liquidation basis of accounting as of the effective date in accordance with other Topics (for example, terminating employee benefit plans) are not required to apply the amendments. Instead, those entities should continue to apply the guidance in those other Topics until they have completed liquidation. This Update became effective for the Company on January 1, 2014 and did not have a significant impact on the Company’s financial statements. | |
In June 2013, the FASB issued ASU 2013-08, Financial Services – Investment Companies (Topic 946): Amendments to the Scope, Measurement, and Disclosure Requirements. The amendments in this Update affect the scope, measurement, and disclosure requirements for investment companies under U.S. GAAP. The amendments do all of the following: 1. Change the approach to the investment company assessment in Topic 946, clarify the characteristics of an investment company, and provide comprehensive guidance for assessing whether an entity is an investment Company. 2. Require an investment company to measure noncontrolling ownership interests in other investment companies at fair value rather than using the equity method of accounting. 3. Require the following additional disclosures: (a) the fact that the entity is an investment company and is applying the guidance in Topic 946, (b) information about changes, if any, in an entity’s status as an investment company, and (c) information about financial support provided or contractually required to be provided by an investment company to any of its investees. The amendments in this Update are effective for an entity’s interim and annual reporting periods in fiscal years that begin after December 15, 2013. Earlier application is prohibited. This Update became effective for the Company on January 1, 2014 and did not have a significant impact on the Company’s financial statements. | |
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This Update applies to all entities that have unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. An unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss 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 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 assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. The amendments in this Update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. This Update became effective for the Company on January 1, 2014 and did not have a significant impact on the Company’s financial statements. | |
Effect of Newly Issued but Not Yet Effective Accounting Standards | ' |
Effect of Newly Issued but Not Yet Effective Accounting Standards: | |
In January 2014, FASB issued ASU 2014-01, Investments – Equity Method and Join Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. The amendments in this Update permit reporting 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. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments in this Update should be applied retrospectively to all periods presented. A reporting entity that uses the effective yield method to account for its investments in qualified affordable housing projects before the date of adoption may continue to apply the effective yield method for those preexisting investments. The amendments in this Update are effective for public business entities for annual periods and interim reporting periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. Adoption of this Update is not expected to have a significant impact on the Company’s financial statements. | |
In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The amendments in this Update clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. An entity can elect to adopt the amendments in this Update using either a modified retrospective transition method or a prospective transition method. This ASU is not expected to have a significant impact on the Company’s financial statements. |
Securities_Tables
Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Available for Sale Securities | ' | ||||||||||||||||||||||||
The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: | |||||||||||||||||||||||||
March 31, 2014 | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 52,816 | $ | 124 | $ | (534 | ) | $ | 52,406 | ||||||||||||||||
Obligations of states and political subdivisions | 81,073 | 3,247 | (1,010 | ) | 83,310 | ||||||||||||||||||||
Mortgage-backed securities in government sponsored entities | 67,116 | 1,081 | (397 | ) | 67,800 | ||||||||||||||||||||
Total debt securities | 201,005 | 4,452 | (1,941 | ) | 203,516 | ||||||||||||||||||||
Equity securities in financial institutions | 481 | — | — | 481 | |||||||||||||||||||||
Total | $ | 201,486 | $ | 4,452 | $ | (1,941 | ) | $ | 203,997 | ||||||||||||||||
December 31, 2013 | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 52,229 | $ | 95 | $ | (764 | ) | $ | 51,560 | ||||||||||||||||
Obligations of states and political subdivisions | 79,975 | 2,327 | (1,677 | ) | 80,625 | ||||||||||||||||||||
Mortgage-backed securities in government sponsored entities | 66,409 | 1,127 | (557 | ) | 66,979 | ||||||||||||||||||||
Total debt securities | 198,613 | 3,549 | (2,998 | ) | 199,164 | ||||||||||||||||||||
Equity securities in financial institutions | 481 | — | (32 | ) | 449 | ||||||||||||||||||||
Total | $ | 199,094 | $ | 3,549 | $ | (3,030 | ) | $ | 199,613 | ||||||||||||||||
Amortized Cost and Fair Value of Securities by Contractual Maturity | ' | ||||||||||||||||||||||||
The amortized cost and fair value of securities at March 31, 2014, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities and equity securities are shown separately. | |||||||||||||||||||||||||
Available for sale | Amortized Cost | Fair Value | |||||||||||||||||||||||
Due in one year or less | $ | 3,295 | $ | 3,301 | |||||||||||||||||||||
Due after one year through five years | 21,404 | 21,295 | |||||||||||||||||||||||
Due after five years through ten years | 33,930 | 34,409 | |||||||||||||||||||||||
Due after ten years | 75,260 | 76,711 | |||||||||||||||||||||||
Mortgage-backed securities | 67,116 | 67,800 | |||||||||||||||||||||||
Equity securities | 481 | 481 | |||||||||||||||||||||||
Total securities available for sale | $ | 201,486 | $ | 203,997 | |||||||||||||||||||||
Proceeds from Sales of Securities, Gross Realized Gains and Losses | ' | ||||||||||||||||||||||||
Proceeds from sales of securities, gross realized gains and gross realized losses were as follows. | |||||||||||||||||||||||||
Three months ended | |||||||||||||||||||||||||
March 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
Sale proceeds | $ | 15,013 | $ | 516 | |||||||||||||||||||||
Gross realized gains | 4 | 14 | |||||||||||||||||||||||
Gross realized losses | — | — | |||||||||||||||||||||||
Gains from securities called or settled by the issuer | — | 3 | |||||||||||||||||||||||
Securities with Unrealized Losses Not Recognized in Income | ' | ||||||||||||||||||||||||
Securities with unrealized losses at March 31, 2014 and December 31, 2013 not recognized in income are as follows: | |||||||||||||||||||||||||
March 31, 2014 | 12 Months or less | More than 12 months | Total | ||||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 34,017 | $ | (534 | ) | $ | — | $ | — | $ | 34,017 | $ | (534 | ) | |||||||||||
Obligations of states and political subdivisions | 18,620 | (824 | ) | 2,890 | (186 | ) | 21,510 | (1,010 | ) | ||||||||||||||||
Mortgage-backed securities in gov’t sponsored entities | 29,723 | (379 | ) | 3,049 | (18 | ) | 32,772 | (397 | ) | ||||||||||||||||
Total temporarily impaired | $ | 82,360 | $ | (1,737 | ) | $ | 5,939 | $ | (204 | ) | $ | 88,299 | $ | (1,941 | ) | ||||||||||
December 31, 2013 | 12 Months or less | More than 12 months | Total | ||||||||||||||||||||||
Description of Securities | Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | ||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 30,800 | $ | (764 | ) | $ | — | $ | — | $ | 30,800 | $ | (764 | ) | |||||||||||
Obligations of states and political subdivisions | 28,428 | (1,556 | ) | 968 | (121 | ) | 29,396 | (1,677 | ) | ||||||||||||||||
Mortgage-backed securities in gov’t sponsored entities | 32,557 | (553 | ) | 279 | (4 | ) | 32,836 | (557 | ) | ||||||||||||||||
Equity securities in financial institutions | 449 | (32 | ) | — | — | 449 | (32 | ) | |||||||||||||||||
Total temporarily impaired | $ | 92,234 | $ | (2,905 | ) | $ | 1,247 | $ | (125 | ) | $ | 93,481 | $ | (3,030 | ) | ||||||||||
Loans_Tables
Loans (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Receivables [Abstract] | ' | ||||||||
Loans at Year-End | ' | ||||||||
Loan balances were as follows: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Commercial and agriculture | $ | 103,365 | $ | 115,875 | |||||
Commercial real estate | 440,824 | 443,846 | |||||||
Residential real estate | 249,292 | 250,691 | |||||||
Real estate construction | 52,788 | 39,964 | |||||||
Consumer and other | 11,099 | 10,865 | |||||||
Total loans | 857,368 | 861,241 | |||||||
Allowance for loan losses | (16,767 | ) | (16,528 | ) | |||||
Net loans | $ | 840,601 | $ | 844,713 | |||||
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||||||
Allowance Related to Unallocated Segment | ' | ||||||||||||||||||||||||||||
The following tables present, by portfolio segment, the changes in the allowance for loan losses and the loan balances outstanding for the three months ended March 31, 2014 and 2013. | |||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and other | |||||||||||||||||||||||||
For the three months ending March 31, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 2,841 | $ | 7,559 | $ | 5,224 | $ | 184 | $ | 214 | $ | 506 | $ | 16,528 | |||||||||||||||
Charge-offs | (229 | ) | (74 | ) | (317 | ) | — | (32 | ) | — | (652 | ) | |||||||||||||||||
Recoveries | 58 | 17 | 49 | 1 | 16 | — | 141 | ||||||||||||||||||||||
Provision | (63 | ) | 495 | 94 | 110 | 41 | 73 | 750 | |||||||||||||||||||||
Ending Balance | $ | 2,607 | $ | 7,997 | $ | 5,050 | $ | 295 | $ | 239 | $ | 579 | $ | 16,767 | |||||||||||||||
Commercial | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and other | |||||||||||||||||||||||||
For the three months ending March 31, 2013 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 2,811 | $ | 10,139 | $ | 5,780 | $ | 349 | $ | 246 | $ | 417 | $ | 19,742 | |||||||||||||||
Charge-offs | — | (312 | ) | (487 | ) | — | (82 | ) | — | (881 | ) | ||||||||||||||||||
Recoveries | 41 | 90 | 156 | 52 | 10 | — | 349 | ||||||||||||||||||||||
Provision | 85 | 7 | (35 | ) | (87 | ) | 51 | 479 | 500 | ||||||||||||||||||||
Ending Balance | $ | 2,937 | $ | 9,924 | $ | 5,414 | $ | 314 | $ | 225 | $ | 896 | $ | 19,710 | |||||||||||||||
Commercial | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and other | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,172 | $ | 1,092 | $ | 770 | $ | — | $ | — | $ | — | $ | 3,034 | |||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 1,435 | $ | 6,905 | $ | 4,280 | $ | 295 | $ | 239 | $ | 579 | $ | 13,733 | |||||||||||||||
Ending Balance | $ | 2,607 | $ | 7,997 | $ | 5,050 | $ | 295 | $ | 239 | $ | 579 | $ | 16,767 | |||||||||||||||
Loan balances outstanding: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,751 | $ | 10,729 | $ | 3,792 | $ | — | $ | 7 | $ | 19,279 | |||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 98,614 | $ | 430,095 | $ | 245,500 | $ | 52,788 | $ | 11,092 | $ | 838,089 | |||||||||||||||||
Ending Balance | $ | 103,365 | $ | 440,824 | $ | 249,292 | $ | 52,788 | $ | 11,099 | $ | 857,368 | |||||||||||||||||
Commercial | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and other | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 1,262 | $ | 445 | $ | 802 | $ | — | $ | — | $ | — | $ | 2,509 | |||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 1,579 | $ | 7,114 | $ | 4,422 | $ | 184 | $ | 214 | $ | 506 | $ | 14,019 | |||||||||||||||
Ending Balance | $ | 2,841 | $ | 7,559 | $ | 5,224 | $ | 184 | $ | 214 | $ | 506 | $ | 16,528 | |||||||||||||||
Loan balances outstanding: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 3,869 | $ | 10,175 | $ | 4,005 | $ | — | $ | 8 | $ | 18,057 | |||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 112,006 | $ | 433,671 | $ | 246,686 | $ | 39,964 | $ | 10,857 | $ | 843,184 | |||||||||||||||||
Ending Balance | $ | 115,875 | $ | 443,846 | $ | 250,691 | $ | 39,964 | $ | 10,865 | $ | 861,241 | |||||||||||||||||
Credit Exposures by Internally Assigned Grades | ' | ||||||||||||||||||||||||||||
March 31, 2014 | Commercial | Commercial | Residential | Real Estate | Consumer | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
Pass | $ | 95,096 | $ | 414,126 | $ | 95,706 | $ | 48,326 | $ | 614 | $ | 653,868 | |||||||||||||||||
Special Mention | 601 | 7,486 | 870 | 21 | — | 8,978 | |||||||||||||||||||||||
Substandard | 7,668 | 19,212 | 8,197 | — | 73 | 35,150 | |||||||||||||||||||||||
Doubtful | — | — | 2,193 | — | — | 2,193 | |||||||||||||||||||||||
Ending Balance | $ | 103,365 | $ | 440,824 | $ | 106,966 | $ | 48,347 | $ | 687 | $ | 700,189 | |||||||||||||||||
December 31, 2013 | Commercial | Commercial | Residential | Real Estate | Consumer | Total | |||||||||||||||||||||||
& Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
Pass | $ | 107,923 | $ | 415,938 | $ | 98,700 | $ | 35,495 | $ | 2,252 | $ | 660,308 | |||||||||||||||||
Special Mention | 2,038 | 9,145 | 986 | 21 | — | 12,190 | |||||||||||||||||||||||
Substandard | 5,914 | 18,763 | 8,175 | — | 70 | 32,922 | |||||||||||||||||||||||
Doubtful | — | — | 2,349 | — | — | 2,349 | |||||||||||||||||||||||
Ending Balance | $ | 115,875 | $ | 443,846 | $ | 110,210 | $ | 35,516 | $ | 2,322 | $ | 707,769 | |||||||||||||||||
Performing and Nonperforming Loans | ' | ||||||||||||||||||||||||||||
Certain TDRs are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months. | |||||||||||||||||||||||||||||
Residential | Real Estate | Consumer | Total | ||||||||||||||||||||||||||
Real Estate | Construction | ||||||||||||||||||||||||||||
31-Mar-14 | |||||||||||||||||||||||||||||
Performing | $ | 142,326 | $ | 4,441 | $ | 10,412 | $ | 157,179 | |||||||||||||||||||||
Nonperforming | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 142,326 | $ | 4,441 | $ | 10,412 | $ | 157,179 | |||||||||||||||||||||
Residential | Real Estate | Consumer | Total | ||||||||||||||||||||||||||
Real Estate | Construction | ||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Performing | $ | 140,481 | $ | 4,448 | $ | 8,543 | $ | 153,472 | |||||||||||||||||||||
Nonperforming | — | — | — | — | |||||||||||||||||||||||||
Total | $ | 140,481 | $ | 4,448 | $ | 8,543 | $ | 153,472 | |||||||||||||||||||||
Aging Analysis of Past Due Loans | ' | ||||||||||||||||||||||||||||
The following tables includes an aging analysis of the recorded investment of past due loans outstanding as of March 31, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
March 31, 2014 | 30-59 | 60-89 | 90 Days or | Total Past | Current | Total Loans | Past Due | ||||||||||||||||||||||
Days | Days | Greater | Due | 90 Days | |||||||||||||||||||||||||
Past Due | Past Due | and | |||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Commercial & Agriculture | $ | 1,292 | $ | 230 | $ | 122 | $ | 1,644 | $ | 101,721 | $ | 103,365 | $ | — | |||||||||||||||
Commercial Real Estate | 1,004 | 371 | 1,491 | 2,866 | 437,958 | 440,824 | — | ||||||||||||||||||||||
Residential Real Estate | 3,114 | 430 | 5,041 | 8,585 | 240,707 | 249,292 | 21 | ||||||||||||||||||||||
Real Estate Construction | — | — | — | — | 52,788 | 52,788 | — | ||||||||||||||||||||||
Consumer and other | 62 | 10 | 4 | 76 | 11,023 | 11,099 | — | ||||||||||||||||||||||
Total | $ | 5,472 | $ | 1,041 | $ | 6,658 | $ | 13,171 | $ | 844,197 | $ | 857,368 | $ | 21 | |||||||||||||||
December 31, 2013 | 30-59 | 60-89 | 90 Days or | Total Past | Current | Total Loans | Past Due | ||||||||||||||||||||||
Days | Days | Greater | Due | 90 Days | |||||||||||||||||||||||||
Past Due | Past Due | and | |||||||||||||||||||||||||||
Accruing | |||||||||||||||||||||||||||||
Commercial & Agriculture | $ | 105 | $ | — | $ | 443 | $ | 548 | $ | 115,327 | $ | 115,875 | $ | — | |||||||||||||||
Commercial Real Estate | 655 | 201 | 2,098 | 2,954 | 440,892 | 443,846 | — | ||||||||||||||||||||||
Residential Real Estate | 3,140 | 1,084 | 5,531 | 9,755 | 240,936 | 250,691 | — | ||||||||||||||||||||||
Real Estate Construction | — | — | — | — | 39,964 | 39,964 | — | ||||||||||||||||||||||
Consumer and other | 170 | 20 | — | 190 | 10,675 | 10,865 | — | ||||||||||||||||||||||
Total | $ | 4,070 | $ | 1,305 | $ | 8,072 | $ | 13,447 | $ | 847,794 | $ | 861,241 | $ | — | |||||||||||||||
Summary of Nonaccrual Loans | ' | ||||||||||||||||||||||||||||
The following table presents loans on nonaccrual status as of March 31, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
Commercial & Agriculture | $ | 2,438 | $ | 1,590 | |||||||||||||||||||||||||
Commercial Real Estate | 9,521 | 9,609 | |||||||||||||||||||||||||||
Residential Real Estate | 9,171 | 9,210 | |||||||||||||||||||||||||||
Real Estate Construction | — | — | |||||||||||||||||||||||||||
Consumer | 54 | 50 | |||||||||||||||||||||||||||
Total | $ | 21,184 | $ | 20,459 | |||||||||||||||||||||||||
Schedule of Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||
Loan modifications that are considered TDRs completed during the three-month periods ended March 31, 2014 and March 31, 2013 were as follows: | |||||||||||||||||||||||||||||
For the Three-Month Period Ended | For the Three-Month Period Ended | ||||||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||||||||
Number | Pre-Modification | Post- | Number | Pre-Modification | Post- | ||||||||||||||||||||||||
of | Outstanding | Modification | of | Outstanding | Modification | ||||||||||||||||||||||||
Contracts | Recorded | Outstanding | Contracts | Recorded | Outstanding | ||||||||||||||||||||||||
Investment | Recorded | Investment | Recorded | ||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||
Commercial & Agriculture | — | $ | — | $ | — | — | $ | — | $ | — | |||||||||||||||||||
Commercial Real Estate | — | — | — | 1 | 125 | 125 | |||||||||||||||||||||||
Residential Real Estate | 2 | 149 | 49 | — | — | — | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | — | — | — | — | — | — | |||||||||||||||||||||||
Total Loan Modifications | 2 | $ | 149 | $ | 49 | 1 | $ | 125 | $ | 125 | |||||||||||||||||||
Impaired Financing Receivables | ' | ||||||||||||||||||||||||||||
The following tables include the recorded investment and unpaid principal balances for impaired financing receivables with the associated allowance amount, if applicable, as of March 31, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Recorded | Unpaid | Related | ||||||||||||||||||||||||
Investment | Principal | Allowance | Investment | Principal | Allowance | ||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||||||||
Commercial & Agriculture | $ | 1,491 | $ | 1,792 | $ | — | $ | 1,525 | $ | 1,657 | $ | — | |||||||||||||||||
Commercial Real Estate | 7,517 | 7,909 | — | 5,983 | 6,214 | — | |||||||||||||||||||||||
Residential Real Estate | 274 | 1,548 | — | 1,202 | 2,263 | — | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | 7 | 7 | — | 8 | 8 | — | |||||||||||||||||||||||
Total | 9,289 | 11,256 | — | 8,718 | 10,142 | — | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial & Agriculture | 3,260 | 3,408 | 1,172 | 2,344 | 2,437 | 1,262 | |||||||||||||||||||||||
Commercial Real Estate | 3,212 | 3,391 | 1,092 | 4,192 | 4,496 | 445 | |||||||||||||||||||||||
Residential Real Estate | 3,518 | 4,728 | 770 | 2,803 | 4,021 | 802 | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | — | — | — | — | — | — | |||||||||||||||||||||||
Total | 9,990 | 11,527 | 3,034 | 9,339 | 10,954 | 2,509 | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial & Agriculture | 4,751 | 5,200 | 1,172 | 3,869 | 4,094 | 1,262 | |||||||||||||||||||||||
Commercial Real Estate | 10,729 | 11,300 | 1,092 | 10,175 | 10,710 | 445 | |||||||||||||||||||||||
Residential Real Estate | 3,792 | 6,276 | 770 | 4,005 | 6,284 | 802 | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | 7 | 7 | — | 8 | 8 | — | |||||||||||||||||||||||
Total | $ | 19,279 | $ | 22,783 | $ | 3,034 | $ | 18,057 | $ | 21,096 | $ | 2,509 | |||||||||||||||||
The following tables include the average recorded investment and interest income recognized for impaired financing receivables for the three-month periods ended March 31, 2014 and 2013. | |||||||||||||||||||||||||||||
For the three months ended: | March 31, 2014 | March 31, 2013 | |||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||
Commercial & Agriculture | $ | 4,310 | $ | 65 | $ | 5,301 | $ | 68 | |||||||||||||||||||||
Commercial Real Estate | 10,569 | 147 | 13,584 | 205 | |||||||||||||||||||||||||
Residential Real Estate | 3,782 | 92 | 5,876 | 143 | |||||||||||||||||||||||||
Real Estate Construction | — | — | 514 | 5 | |||||||||||||||||||||||||
Consumer and Other | 7 | — | 50 | — | |||||||||||||||||||||||||
Total | $ | 18,668 | $ | 304 | $ | 25,325 | $ | 421 | |||||||||||||||||||||
Other_Comprehensive_Income_Tab
Other Comprehensive Income (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Changes in Each Component of Accumulated Other Comprehensive Loss, Net of Tax | ' | ||||||||||||||||||||||||
The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, for the three-month period ended March 31, 2014 and 2013: | |||||||||||||||||||||||||
For the Three-Month Period Ended | For the Three-Month Period Ended | ||||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | ||||||||||||||||||||||||
Unrealized | Defined | Total | Unrealized | Defined | Total | ||||||||||||||||||||
Gains and | Benefit | Gains and | Benefit | ||||||||||||||||||||||
Losses on | Pension | Losses on | Pension | ||||||||||||||||||||||
Available-for- | Items | Available-for- | Items | ||||||||||||||||||||||
Sale | Sale | ||||||||||||||||||||||||
Securities | Securities | ||||||||||||||||||||||||
Beginning balance | $ | 341 | $ | (4,588 | ) | $ | (4,247 | ) | $ | 5,849 | $ | (7,496 | ) | $ | (1,647 | ) | |||||||||
Other comprehensive loss before reclassifications | 1,318 | — | 1,318 | (412 | ) | — | (412 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive loss | (3 | ) | 28 | 25 | (11 | ) | 104 | 93 | |||||||||||||||||
Net current-period other comprehensive income (loss) | 1,315 | 28 | 1,343 | (423 | ) | 104 | (319 | ) | |||||||||||||||||
Ending balance | $ | 1,656 | $ | (4,560 | ) | $ | (2,904 | ) | $ | 5,426 | $ | (7,392 | ) | $ | (1,966 | ) | |||||||||
Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Loss | ' | ||||||||||||||||||||||||
The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss for the three-month periods ended March 31, 2014 and 2013: | |||||||||||||||||||||||||
Amount Reclassified from | |||||||||||||||||||||||||
Accumulated Other Comprehensive | |||||||||||||||||||||||||
Loss (a) | |||||||||||||||||||||||||
Details about Accumulated Other Comprehensive | For the three | For the three | Affected Line Item in the | ||||||||||||||||||||||
(Loss) Components | months ended | months ended | Statement Where Net Income | ||||||||||||||||||||||
March 31, 2014 | March 31, 2013 | is Presented | |||||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities | $ | 4 | $ | 17 | Net gain on sale of securities | ||||||||||||||||||||
Tax effect | (1 | ) | (6 | ) | Income tax expense | ||||||||||||||||||||
3 | 11 | Net of tax | |||||||||||||||||||||||
Amortization of defined benefit pension items | |||||||||||||||||||||||||
Actuarial gains/(losses) | (43 | )(b) | (158 | )(b) | Salaries, wages and benefits | ||||||||||||||||||||
Tax effect | 15 | 54 | Income tax expense | ||||||||||||||||||||||
(28 | ) | (104 | ) | Net of tax | |||||||||||||||||||||
Total reclassifications for the period | $ | (25 | ) | $ | (93 | ) | Net of tax | ||||||||||||||||||
(a) | Amounts in parentheses indicate debits to profit/loss. | ||||||||||||||||||||||||
(b) | These accumulated other comprehensive income components are included in the computation of net periodic pension cost. |
Earnings_per_Common_Share_Tabl
Earnings per Common Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Computation of Basic and Diluted Earnings per Common Share | ' | ||||||||
Basic earnings per share are net income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share include the dilutive effect, if any, of additional potential common shares issuable under stock options, computed using the treasury stock method and the impact of the Company’s convertible preferred stock using the “if converted” method. | |||||||||
Three months ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Basic | |||||||||
Net income | $ | 2,712 | $ | 1,913 | |||||
Preferred stock dividends and discount accretion | 655 | 290 | |||||||
Net income available to common shareholders | $ | 2,057 | $ | 1,623 | |||||
Weighted average common shares outstanding | 7,707,917 | 7,707,917 | |||||||
Basic earnings per common share | $ | 0.27 | $ | 0.21 | |||||
Diluted | |||||||||
Net income available to common shareholders - basic | $ | 2,057 | $ | 1,623 | |||||
Convertible preferred stock dividends | 388 | — | |||||||
Net income available to common shareholders - diluted | $ | 2,445 | $ | 1,623 | |||||
Weighted average common shares outstanding for basic earnings per common share | 7,707,917 | 7,707,917 | |||||||
Add: Dilutive effects of convertible preferred stock | 3,196,931 | — | |||||||
Add: Dilutive effects of assumed exercises of stock options | — | — | |||||||
Average shares and dilutive potential common shares outstanding | 10,904,848 | 7,707,917 | |||||||
Diluted earnings per common share | $ | 0.22 | $ | 0.21 | |||||
Commitments_Contingencies_and_1
Commitments, Contingencies and Off-Balance Sheet Risk (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||||||
Contractual Amount of Financial Instruments with Off-Balance-Sheet Risk | ' | ||||||||||||||||
The contractual amounts of financial instruments with off-balance-sheet risk were as follows for March 31, 2014 and December 31, 2013: | |||||||||||||||||
Contract Amount | |||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
Fixed | Variable | Fixed | Variable | ||||||||||||||
Rate | Rate | Rate | Rate | ||||||||||||||
Commitment to extend credit: | |||||||||||||||||
Lines of credit and construction loans | $ | 10,740 | $ | 165,390 | $ | 11,866 | $ | 151,332 | |||||||||
Overdraft protection | 19 | 24,715 | 18 | 21,084 | |||||||||||||
Letters of credit | 200 | 742 | 200 | 2,411 | |||||||||||||
$ | 10,959 | $ | 190,847 | $ | 12,084 | $ | 174,827 | ||||||||||
Pension_Information_Tables
Pension Information (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||
Components of Net Periodic Pension Expense | ' | ||||||||
Net periodic pension expense was as follows: | |||||||||
Three months ended | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Service cost | $ | 76 | $ | 273 | |||||
Interest cost | 180 | 201 | |||||||
Expected return on plan assets | (280 | ) | (219 | ) | |||||
Net amortization | 43 | 158 | |||||||
Net periodic pension cost | $ | 19 | $ | 413 | |||||
Stock_Options_Tables
Stock Options (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||
Summary of Activity in Stock Option Plan | ' | ||||||||
A summary of the activity in the plan is as follows: | |||||||||
Three months ended | |||||||||
March 31, 2013 | |||||||||
Total options | |||||||||
outstanding | |||||||||
Shares | Weighted | ||||||||
Average | |||||||||
Price | |||||||||
Per Share | |||||||||
Outstanding at beginning of year | 10,000 | $ | 35 | ||||||
Granted | — | — | |||||||
Exercised | — | — | |||||||
Forfeited | — | — | |||||||
Expired | — | — | |||||||
Options outstanding, end of period | 10,000 | $ | 35 | ||||||
Options exercisable, end of period | 10,000 | $ | 35 | ||||||
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Assets Measured at Fair Value | ' | ||||||||||||||||||||
Assets measured at fair value are summarized below. | |||||||||||||||||||||
Fair Value Measurements at March 31, 2014 Using: | |||||||||||||||||||||
Assets: | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets measured at fair value on a recurring basis: | |||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. Government agencies | $ | — | $ | 52,406 | $ | — | |||||||||||||||
Obligations of states and political subdivisions | — | 83,310 | — | ||||||||||||||||||
Mortgage-backed securities in government sponsored entities | — | 67,800 | — | ||||||||||||||||||
Equity securities in financial institutions | — | 481 | — | ||||||||||||||||||
Assets measured at fair value on a nonrecurring basis: | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 16,245 | |||||||||||||||
Other real estate owned | — | — | 196 | ||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||||||
Assets: | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets measured at fair value on a recurring basis: | |||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. Government agencies | $ | — | $ | 51,560 | $ | — | |||||||||||||||
Obligations of states and political subdivisions | — | 80,625 | — | ||||||||||||||||||
Mortgage-backed securities in government sponsored entities | — | 66,979 | — | ||||||||||||||||||
Equity securities in financial institutions | — | 449 | — | ||||||||||||||||||
Assets measured at fair value on a nonrecurring basis: | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 15,548 | |||||||||||||||
Other real estate owned | — | — | 173 | ||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ' | ||||||||||||||||||||
The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at March 31, 2014. | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
March 31, 2014 | Fair Value | Valuation Technique | Unobservable Input | Range | |||||||||||||||||
Estimate | |||||||||||||||||||||
Impaired loans | $ | 16,245 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 0% - 10% | ||||||||||||||||||||
Holding period | 0 - 30 months | ||||||||||||||||||||
Discounted cash flows | Discount rates | 3.8% - 8.0% | |||||||||||||||||||
Other real estate owned | $ | 196 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 0% - 10% | ||||||||||||||||||||
The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2013. | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
December 31, 2013 | Fair Value | Valuation Technique | Unobservable Input | Range | |||||||||||||||||
Estimate | |||||||||||||||||||||
Impaired loans | $ | 15,548 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 0% - 10% | ||||||||||||||||||||
Holding period | 0 - 30 months | ||||||||||||||||||||
Discounted cash flows | Discount rates | 2% - 8.5% | |||||||||||||||||||
Other real estate owned | $ | 173 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 0% - 10% | ||||||||||||||||||||
Carrying Amount and Fair Values of Financial Instruments | ' | ||||||||||||||||||||
The carrying amount and fair values of financial instruments are as follows. | |||||||||||||||||||||
March 31, 2014 | Carrying | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from financial institutions | $ | 119,715 | $ | 119,715 | $ | 119,715 | $ | — | $ | — | |||||||||||
Securities available for sale | 203,997 | 203,997 | — | 203,997 | — | ||||||||||||||||
Other securities | 12,414 | 12,414 | 12,414 | — | — | ||||||||||||||||
Loans, held for sale | 545 | 545 | 545 | — | — | ||||||||||||||||
Loans, net of allowance for loan losses | 840,601 | 857,601 | — | — | 857,601 | ||||||||||||||||
Bank owned life insurance | 19,275 | 19,275 | 19,275 | — | — | ||||||||||||||||
Accrued interest receivable | 4,202 | 4,202 | 4,202 | — | — | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Nonmaturing deposits | 813,492 | 813,492 | 813,492 | — | — | ||||||||||||||||
Time deposits | 231,328 | 233,610 | — | — | 233,610 | ||||||||||||||||
Federal Home Loan Bank advances | 37,717 | 38,004 | — | — | 38,004 | ||||||||||||||||
Securities sold under agreement to repurchase | 17,949 | 17,949 | 17,949 | — | — | ||||||||||||||||
Subordinated debentures | 29,427 | 22,078 | — | — | 22,078 | ||||||||||||||||
Accrued interest payable | 151 | 151 | 151 | — | — | ||||||||||||||||
December 31, 2013 | Carrying | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Amount | Fair Value | ||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from financial institutions | $ | 33,883 | $ | 33,883 | $ | 33,883 | $ | — | $ | — | |||||||||||
Securities available for sale | 199,613 | 199,613 | — | 199,613 | — | ||||||||||||||||
Other securities | 15,424 | 15,424 | 15,424 | — | — | ||||||||||||||||
Loans, held for sale | 438 | 438 | 438 | — | — | ||||||||||||||||
Loans, net of allowance for loan losses | 844,713 | 861,252 | — | — | 861,252 | ||||||||||||||||
Bank owned life insurance | 19,145 | 19,145 | 19,145 | — | — | ||||||||||||||||
Accrued interest receivable | 3,881 | 3,881 | 3,881 | — | — | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Nonmaturing deposits | 706,126 | 706,126 | 706,126 | — | — | ||||||||||||||||
Time deposits | 236,349 | 237,837 | — | — | 237,837 | ||||||||||||||||
Federal Home Loan Bank advances | 37,726 | 38,767 | — | — | 38,767 | ||||||||||||||||
Securities sold under agreement to repurchase | 20,053 | 20,053 | 20,053 | — | — | ||||||||||||||||
Subordinated debentures | 29,427 | 20,605 | — | — | 20,605 | ||||||||||||||||
Accrued interest payable | 156 | 156 | 156 | — | — |
Consolidated_Financial_Stateme2
Consolidated Financial Statements - Additional Information (Detail) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Dwelling | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | ' |
Amount payable to lessors | $99,749 |
Amount payable to lessors in percentage | 11.60% |
Number of concentration by bank to lessors of Residential Buildings and Dwellings | 1 |
Percentage of insurance commission revenue of total revenue | 'less than 1.0% |
Water St. [Member] | ' |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | ' |
Percentage of insurance commission revenue of total revenue | 'less than 1.0% |
Number of reportable segment | 1 |
Securities_Available_for_Sale_
Securities - Available for Sale Securities (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $201,486 | $199,094 |
Gross Unrealized Gains | 4,452 | 3,549 |
Gross Unrealized Losses | -1,941 | -3,030 |
Total securities available for sale, Fair Value | 203,997 | 199,613 |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 52,816 | 52,229 |
Gross Unrealized Gains | 124 | 95 |
Gross Unrealized Losses | -534 | -764 |
Total securities available for sale, Fair Value | 52,406 | 51,560 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 81,073 | 79,975 |
Gross Unrealized Gains | 3,247 | 2,327 |
Gross Unrealized Losses | -1,010 | -1,677 |
Total securities available for sale, Fair Value | 83,310 | 80,625 |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 67,116 | 66,409 |
Gross Unrealized Gains | 1,081 | 1,127 |
Gross Unrealized Losses | -397 | -557 |
Total securities available for sale, Fair Value | 67,800 | 66,979 |
Total Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 201,005 | 198,613 |
Gross Unrealized Gains | 4,452 | 3,549 |
Gross Unrealized Losses | -1,941 | -2,998 |
Total securities available for sale, Fair Value | 203,516 | 199,164 |
Equity Securities in Financial Institutions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 481 | 481 |
Gross Unrealized Gains | ' | ' |
Gross Unrealized Losses | ' | -32 |
Total securities available for sale, Fair Value | $481 | $449 |
Securities_Amortized_Cost_and_
Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments Debt And Equity Securities [Abstract] | ' | ' |
Due in one year or less, Amortized Cost | $3,295 | ' |
Due after one year through five years, Amortized Cost | 21,404 | ' |
Due after five years through ten years, Amortized Cost | 33,930 | ' |
Due after ten years, Amortized Cost | 75,260 | ' |
Mortgage-backed securities, Amortized Cost | 67,116 | ' |
Equity securities, Amortized Cost | 481 | ' |
Total securities available for sale, Amortized Cost | 201,486 | 199,094 |
Due in one year or less, Fair Value | 3,301 | ' |
Due after one year through five years, Fair Value | 21,295 | ' |
Due after five years through ten years, Fair Value | 34,409 | ' |
Due after ten years, Fair Value | 76,711 | ' |
Mortgage-backed securities, Fair Value | 67,800 | ' |
Equity securities, Fair Value | 481 | ' |
Total securities available for sale, Fair Value | $203,997 | $199,613 |
Securities_Proceeds_from_Sales
Securities - Proceeds from Sales of Securities, Gross Realized Gains and Losses (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' |
Sale proceeds | $15,013 | $516 |
Gross realized gains | 4 | 14 |
Gross realized losses | ' | ' |
Gains from securities called or settled by the issuer | ' | $3 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Security | |
Amortized Cost And Fair Value Debt Securities [Abstract] | ' | ' |
Carrying value of pledged securities | $148,803 | $147,625 |
Number of securities in portfolio with unrealized losses | 72 | ' |
Securities_Securities_with_Unr
Securities - Securities with Unrealized Losses not Recognized in Income (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 Months or less, Fair Value | $82,360 | $92,234 |
12 Months or less, Unrealized Loss | -1,737 | -2,905 |
More than 12 months, Fair Value | 5,939 | 1,247 |
More than 12 months, Unrealized Loss | -204 | -125 |
Total Fair Value | 88,299 | 93,481 |
Total Unrealized Loss | -1,941 | -3,030 |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 Months or less, Fair Value | 34,017 | 30,800 |
12 Months or less, Unrealized Loss | -534 | -764 |
More than 12 months, Fair Value | ' | ' |
More than 12 months, Unrealized Loss | ' | ' |
Total Fair Value | 34,017 | 30,800 |
Total Unrealized Loss | -534 | -764 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 Months or less, Fair Value | 18,620 | 28,428 |
12 Months or less, Unrealized Loss | -824 | -1,556 |
More than 12 months, Fair Value | 2,890 | 968 |
More than 12 months, Unrealized Loss | -186 | -121 |
Total Fair Value | 21,510 | 29,396 |
Total Unrealized Loss | -1,010 | -1,677 |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 Months or less, Fair Value | 29,723 | 32,557 |
12 Months or less, Unrealized Loss | -379 | -553 |
More than 12 months, Fair Value | 3,049 | 279 |
More than 12 months, Unrealized Loss | -18 | -4 |
Total Fair Value | 32,772 | 32,836 |
Total Unrealized Loss | -397 | -557 |
Equity Securities in Financial Institutions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 Months or less, Fair Value | ' | 449 |
12 Months or less, Unrealized Loss | ' | -32 |
More than 12 months, Fair Value | ' | ' |
More than 12 months, Unrealized Loss | ' | ' |
Total Fair Value | ' | 449 |
Total Unrealized Loss | ' | ($32) |
Loans_Summary_of_Loan_Balances
Loans - Summary of Loan Balances (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | $857,368 | $861,241 |
Allowance for loan losses | -16,767 | -16,528 |
Net loans | 840,601 | 844,713 |
Commercial and Agriculture [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 103,365 | 115,875 |
Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 440,824 | 443,846 |
Residential Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 249,292 | 250,691 |
Real Estate Construction [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 52,788 | 39,964 |
Consumer and Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | $11,099 | $10,865 |
Allowance_for_Loan_Losses_Addi
Allowance for Loan Losses - Additional Information (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
SecurityLoan | SecurityLoan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Historical loss percentage period for portfolio segments | '2 years | ' | ' |
Adequate allowance for loan losses | $16,767 | ' | $16,528 |
Number of days past due for loans to be considered as nonperforming | '90 days | ' | ' |
Reasonable period for nonperforming TDRs to be returned to performing status | '6 months | ' | ' |
Loans | 0 | 0 | ' |
Defaulted loans | 0 | 0 | ' |
Impaired loans | 'Greater than $350 | ' | ' |
TDRs [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Adequate allowance for loan losses | $530 | ' | ' |
Allowance_for_Loan_Losses_Allo
Allowance for Loan Losses - Allowance Related to Unallocated Segment (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Allowance for loan losses: | ' | ' | ' |
Beginning balance | $16,528 | $19,742 | ' |
Charge-offs | -652 | -881 | ' |
Recoveries | 141 | 349 | ' |
Provision | 750 | 500 | ' |
Ending Balance | 16,767 | 19,710 | ' |
Individually evaluated for impairment | 3,034 | ' | 2,509 |
Collectively evaluated for impairment | 13,733 | ' | 14,019 |
Ending Balance | 16,767 | 19,710 | ' |
Loan balances outstanding: | ' | ' | ' |
Individually evaluated for impairment | 19,279 | ' | 18,057 |
Collectively evaluated for impairment | 838,089 | ' | 843,184 |
Ending Balance | 857,368 | ' | 861,241 |
Commercial and Agriculture [Member] | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' |
Beginning balance | 2,841 | 2,811 | ' |
Charge-offs | -229 | ' | ' |
Recoveries | 58 | 41 | ' |
Provision | -63 | 85 | ' |
Ending Balance | 2,607 | 2,937 | ' |
Individually evaluated for impairment | 1,172 | ' | 1,262 |
Collectively evaluated for impairment | 1,435 | ' | 1,579 |
Ending Balance | 2,607 | 2,937 | ' |
Loan balances outstanding: | ' | ' | ' |
Individually evaluated for impairment | 4,751 | ' | 3,869 |
Collectively evaluated for impairment | 98,614 | ' | 112,006 |
Ending Balance | 103,365 | ' | 115,875 |
Commercial Real Estate [Member] | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' |
Beginning balance | 7,559 | 10,139 | ' |
Charge-offs | -74 | -312 | ' |
Recoveries | 17 | 90 | ' |
Provision | 495 | 7 | ' |
Ending Balance | 7,997 | 9,924 | ' |
Individually evaluated for impairment | 1,092 | ' | 445 |
Collectively evaluated for impairment | 6,905 | ' | 7,114 |
Ending Balance | 7,997 | 9,924 | ' |
Loan balances outstanding: | ' | ' | ' |
Individually evaluated for impairment | 10,729 | ' | 10,175 |
Collectively evaluated for impairment | 430,095 | ' | 433,671 |
Ending Balance | 440,824 | ' | 443,846 |
Residential Real Estate [Member] | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' |
Beginning balance | 5,224 | 5,780 | ' |
Charge-offs | -317 | -487 | ' |
Recoveries | 49 | 156 | ' |
Provision | 94 | -35 | ' |
Ending Balance | 5,050 | 5,414 | ' |
Individually evaluated for impairment | 770 | ' | 802 |
Collectively evaluated for impairment | 4,280 | ' | 4,422 |
Ending Balance | 5,050 | 5,414 | ' |
Loan balances outstanding: | ' | ' | ' |
Individually evaluated for impairment | 3,792 | ' | 4,005 |
Collectively evaluated for impairment | 245,500 | ' | 246,686 |
Ending Balance | 249,292 | ' | 250,691 |
Real Estate Construction [Member] | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' |
Beginning balance | 184 | 349 | ' |
Charge-offs | ' | ' | ' |
Recoveries | 1 | 52 | ' |
Provision | 110 | -87 | ' |
Ending Balance | 295 | 314 | ' |
Individually evaluated for impairment | ' | ' | ' |
Collectively evaluated for impairment | 295 | ' | 184 |
Ending Balance | 295 | 314 | ' |
Loan balances outstanding: | ' | ' | ' |
Individually evaluated for impairment | ' | ' | ' |
Collectively evaluated for impairment | 52,788 | ' | 39,964 |
Ending Balance | 52,788 | ' | 39,964 |
Unallocated [Member] | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' |
Beginning balance | 506 | 417 | ' |
Charge-offs | ' | ' | ' |
Recoveries | ' | ' | ' |
Provision | 73 | 479 | ' |
Ending Balance | 579 | 896 | ' |
Individually evaluated for impairment | ' | ' | ' |
Collectively evaluated for impairment | 579 | ' | 506 |
Ending Balance | 579 | 896 | ' |
Loan balances outstanding: | ' | ' | ' |
Individually evaluated for impairment | 7 | ' | 8 |
Collectively evaluated for impairment | 11,092 | ' | 10,857 |
Ending Balance | 11,099 | ' | 10,865 |
Consumer and Other [Member] | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' |
Beginning balance | 214 | 246 | ' |
Charge-offs | -32 | -82 | ' |
Recoveries | 16 | 10 | ' |
Provision | 41 | 51 | ' |
Ending Balance | 239 | 225 | ' |
Individually evaluated for impairment | ' | ' | ' |
Collectively evaluated for impairment | 239 | ' | 214 |
Ending Balance | $239 | $225 | ' |
Allowance_for_Loan_Losses_Cred
Allowance for Loan Losses - Credit Exposures by Internally Assigned Grades (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | $700,189 | $707,769 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 653,868 | 660,308 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 8,978 | 12,190 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 35,150 | 32,922 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 2,193 | 2,349 |
Commercial and Agriculture [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 103,365 | 115,875 |
Commercial and Agriculture [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 95,096 | 107,923 |
Commercial and Agriculture [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 601 | 2,038 |
Commercial and Agriculture [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 7,668 | 5,914 |
Commercial and Agriculture [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | ' | ' |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 440,824 | 443,846 |
Commercial Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 414,126 | 415,938 |
Commercial Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 7,486 | 9,145 |
Commercial Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 19,212 | 18,763 |
Commercial Real Estate [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | ' | ' |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 106,966 | 110,210 |
Residential Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 95,706 | 98,700 |
Residential Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 870 | 986 |
Residential Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 8,197 | 8,175 |
Residential Real Estate [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 2,193 | 2,349 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 48,347 | 35,516 |
Real Estate Construction [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 48,326 | 35,495 |
Real Estate Construction [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 21 | 21 |
Real Estate Construction [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | ' | ' |
Real Estate Construction [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | ' | ' |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 687 | 2,322 |
Consumer [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 614 | 2,252 |
Consumer [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | ' | ' |
Consumer [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | 73 | 70 |
Consumer [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Credit exposures by internally assigned grades | ' | ' |
Allowance_for_Loan_Losses_Perf
Allowance for Loan Losses - Performing and Nonperforming Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Performing | $157,179 | $153,472 |
Nonperforming | ' | ' |
Total | 157,179 | 153,472 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Performing | 142,326 | 140,481 |
Nonperforming | ' | ' |
Total | 142,326 | 140,481 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Performing | 4,441 | 4,448 |
Nonperforming | ' | ' |
Total | 4,441 | 4,448 |
Consumer [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Performing | 10,412 | 8,543 |
Nonperforming | ' | ' |
Total | $10,412 | $8,543 |
Allowance_for_Loan_Losses_Agin
Allowance for Loan Losses - Aging Analysis of Past Due Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | $5,472 | $4,070 |
60-89 Days Past Due | 1,041 | 1,305 |
90 Days or Greater | 6,658 | 8,072 |
Total Past Due | 13,171 | 13,447 |
Current | 844,197 | 847,794 |
Total Loans | 857,368 | 861,241 |
Past Due 90 Days and Accruing | 21 | ' |
Commercial and Agriculture [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 1,292 | 105 |
60-89 Days Past Due | 230 | ' |
90 Days or Greater | 122 | 443 |
Total Past Due | 1,644 | 548 |
Current | 101,721 | 115,327 |
Total Loans | 103,365 | 115,875 |
Past Due 90 Days and Accruing | ' | ' |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 1,004 | 655 |
60-89 Days Past Due | 371 | 201 |
90 Days or Greater | 1,491 | 2,098 |
Total Past Due | 2,866 | 2,954 |
Current | 437,958 | 440,892 |
Total Loans | 440,824 | 443,846 |
Past Due 90 Days and Accruing | ' | ' |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 3,114 | 3,140 |
60-89 Days Past Due | 430 | 1,084 |
90 Days or Greater | 5,041 | 5,531 |
Total Past Due | 8,585 | 9,755 |
Current | 240,707 | 240,936 |
Total Loans | 249,292 | 250,691 |
Past Due 90 Days and Accruing | 21 | ' |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | ' | ' |
60-89 Days Past Due | ' | ' |
90 Days or Greater | ' | ' |
Total Past Due | ' | ' |
Current | 52,788 | 39,964 |
Total Loans | 52,788 | 39,964 |
Past Due 90 Days and Accruing | ' | ' |
Consumer and other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 62 | 170 |
60-89 Days Past Due | 10 | 20 |
90 Days or Greater | 4 | ' |
Total Past Due | 76 | 190 |
Current | 11,023 | 10,675 |
Total Loans | 11,099 | 10,865 |
Past Due 90 Days and Accruing | ' | ' |
Allowance_for_Loan_Losses_Summ
Allowance for Loan Losses - Summary of Nonaccrual Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | $21,184 | $20,459 |
Commercial and Agriculture [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | 2,438 | 1,590 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | 9,521 | 9,609 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | 9,171 | 9,210 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | ' | ' |
Consumer and other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | $54 | $50 |
Allowance_for_Loan_Losses_Sche
Allowance for Loan Losses - Schedule of Troubled Debt Restructurings (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Contract | Contract | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Number of Contracts | 2 | 1 |
Pre-Modification Outstanding Recorded Investment | $149 | $125 |
Post-Modification Outstanding Recorded Investment | 49 | 125 |
Commercial and Agriculture [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Number of Contracts | ' | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' |
Post-Modification Outstanding Recorded Investment | ' | ' |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Number of Contracts | ' | 1 |
Pre-Modification Outstanding Recorded Investment | ' | 125 |
Post-Modification Outstanding Recorded Investment | ' | 125 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Number of Contracts | 2 | ' |
Pre-Modification Outstanding Recorded Investment | 149 | ' |
Post-Modification Outstanding Recorded Investment | 49 | ' |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Number of Contracts | ' | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' |
Post-Modification Outstanding Recorded Investment | ' | ' |
Consumer and Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Number of Contracts | ' | ' |
Pre-Modification Outstanding Recorded Investment | ' | ' |
Post-Modification Outstanding Recorded Investment | ' | ' |
Allowance_for_Loan_Losses_Impa
Allowance for Loan Losses - Impaired Financing Receivables (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | $9,289 | ' | $8,718 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 11,256 | ' | 10,142 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' | ' |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 9,990 | ' | 9,339 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 11,527 | ' | 10,954 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 3,034 | ' | 2,509 |
Impaired financing receivables, Recorded Investment, Total | 19,279 | ' | 18,057 |
Impaired financing receivables, Unpaid Principal Balance, Total | 22,783 | ' | 21,096 |
Impaired financing receivables, Related Allowance, Total | 3,034 | ' | 2,509 |
Impaired financing receivables, Average Recorded Investment, Total | 18,668 | 25,325 | ' |
Impaired financing receivables, Interest Income Recognized, Total | 304 | 421 | ' |
Commercial and Agriculture [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 1,491 | ' | 1,525 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,792 | ' | 1,657 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' | ' |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 3,260 | ' | 2,344 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 3,408 | ' | 2,437 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 1,172 | ' | 1,262 |
Impaired financing receivables, Recorded Investment, Total | 4,751 | ' | 3,869 |
Impaired financing receivables, Unpaid Principal Balance, Total | 5,200 | ' | 4,094 |
Impaired financing receivables, Related Allowance, Total | 1,172 | ' | 1,262 |
Impaired financing receivables, Average Recorded Investment, Total | 4,310 | 5,301 | ' |
Impaired financing receivables, Interest Income Recognized, Total | 65 | 68 | ' |
Commercial Real Estate [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 7,517 | ' | 5,983 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 7,909 | ' | 6,214 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' | ' |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 3,212 | ' | 4,192 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 3,391 | ' | 4,496 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 1,092 | ' | 445 |
Impaired financing receivables, Recorded Investment, Total | 10,729 | ' | 10,175 |
Impaired financing receivables, Unpaid Principal Balance, Total | 11,300 | ' | 10,710 |
Impaired financing receivables, Related Allowance, Total | 1,092 | ' | 445 |
Impaired financing receivables, Average Recorded Investment, Total | 10,569 | 13,584 | ' |
Impaired financing receivables, Interest Income Recognized, Total | 147 | 205 | ' |
Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 274 | ' | 1,202 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,548 | ' | 2,263 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' | ' |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 3,518 | ' | 2,803 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 4,728 | ' | 4,021 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 770 | ' | 802 |
Impaired financing receivables, Recorded Investment, Total | 3,792 | ' | 4,005 |
Impaired financing receivables, Unpaid Principal Balance, Total | 6,276 | ' | 6,284 |
Impaired financing receivables, Related Allowance, Total | 770 | ' | 802 |
Impaired financing receivables, Average Recorded Investment, Total | 3,782 | 5,876 | ' |
Impaired financing receivables, Interest Income Recognized, Total | 92 | 143 | ' |
Real Estate Construction [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | ' | ' | ' |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | ' | ' | ' |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' | ' |
Impaired financing receivables, with an allowance recorded, Recorded Investment | ' | ' | ' |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | ' | ' | ' |
Impaired financing receivables, with an allowance recorded, Related Allowance | ' | ' | ' |
Impaired financing receivables, Recorded Investment, Total | ' | ' | ' |
Impaired financing receivables, Unpaid Principal Balance, Total | ' | ' | ' |
Impaired financing receivables, Related Allowance, Total | ' | ' | ' |
Impaired financing receivables, Average Recorded Investment, Total | ' | 514 | ' |
Impaired financing receivables, Interest Income Recognized, Total | ' | 5 | ' |
Consumer and Other [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 7 | ' | 8 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 7 | ' | 8 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' | ' |
Impaired financing receivables, with an allowance recorded, Recorded Investment | ' | ' | ' |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | ' | ' | ' |
Impaired financing receivables, with an allowance recorded, Related Allowance | ' | ' | ' |
Impaired financing receivables, Recorded Investment, Total | 7 | ' | 8 |
Impaired financing receivables, Unpaid Principal Balance, Total | 7 | ' | 8 |
Impaired financing receivables, Related Allowance, Total | ' | ' | ' |
Impaired financing receivables, Average Recorded Investment, Total | $7 | $50 | ' |
Other_Comprehensive_Income_Cha
Other Comprehensive Income - Changes in Each Component of Accumulated Other Comprehensive Loss, Net of Tax (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Beginning balance | ($4,247) | ($1,647) |
Other comprehensive loss before reclassifications | 1,318 | -412 |
Amounts reclassified from accumulated other comprehensive loss | 25 | 93 |
Net current-period other comprehensive income (loss) | 1,343 | -319 |
Ending balance | -2,904 | -1,966 |
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Beginning balance | 341 | 5,849 |
Other comprehensive loss before reclassifications | 1,318 | -412 |
Amounts reclassified from accumulated other comprehensive loss | -3 | -11 |
Net current-period other comprehensive income (loss) | 1,315 | -423 |
Ending balance | 1,656 | 5,426 |
Defined Benefit Pension Items [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Beginning balance | -4,588 | -7,496 |
Other comprehensive loss before reclassifications | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | 28 | 104 |
Net current-period other comprehensive income (loss) | 28 | 104 |
Ending balance | ($4,560) | ($7,392) |
Other_Comprehensive_Income_Amo
Other Comprehensive Income - Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Loss (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Income tax expense | ($899) | ($582) |
Net income available to common shareholders | 2,057 | 1,623 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Net income available to common shareholders | -25 | -93 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Unrealized gains and losses on available-for-sale securities | 4 | 17 |
Income tax expense | -1 | -6 |
Net income available to common shareholders | 3 | 11 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Defined Benefit Pension Items [Member] | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Actuarial gains/(losses) | -43 | -158 |
Income tax expense | 15 | 54 |
Net income available to common shareholders | ($28) | ($104) |
Earnings_per_Common_Share_Comp
Earnings per Common Share - Computation of Basic and Diluted Earnings per Common Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Basic | ' | ' |
Net income | $2,712 | $1,913 |
Preferred stock dividends and discount accretion | 655 | 290 |
Net income available to common shareholders | 2,057 | 1,623 |
Weighted average common shares outstanding | 7,707,917 | 7,707,917 |
Basic earnings per common share | $0.27 | $0.21 |
Diluted | ' | ' |
Net income available to common shareholders - basic | 2,057 | 1,623 |
Convertible preferred stock dividends | 388 | ' |
Net income available to common shareholders - diluted | $2,445 | $1,623 |
Weighted average common shares outstanding for basic earnings per common share | 7,707,917 | 7,707,917 |
Add: Dilutive effects of convertible preferred stock | 3,196,931 | ' |
Add: Dilutive effects of assumed exercises of stock options | ' | ' |
Average shares and dilutive potential common shares outstanding | 10,904,848 | 7,707,917 |
Diluted earnings per common share | $0.22 | $0.21 |
Earnings_per_Common_Share_Addi
Earnings per Common Share - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Stock Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share, amount | 0 | 10,000 |
Exercise price of stock options not considered in computing diluted earnings per common share | ' | $35 |
Dilutive shares related to convertible preferred stock | 3,196,931 | ' |
Commitments_Contingencies_and_2
Commitments, Contingencies and Off-Balance-Sheet Risk - Contractual Amount of Financial Instruments with Off-Balance-Sheet Risk (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fixed Rate | $10,959 | $12,084 |
Variable Rate | 190,847 | 174,827 |
Lines of Credit and Construction Loans [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fixed Rate | 10,740 | 11,866 |
Variable Rate | 165,390 | 151,332 |
Overdraft Protection [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fixed Rate | 19 | 18 |
Variable Rate | 24,715 | 21,084 |
Letters of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fixed Rate | 200 | 200 |
Variable Rate | $742 | $2,411 |
Commitments_Contingencies_and_3
Commitments, Contingencies and Off-Balance-Sheet Risk - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Maximum period of commitments to make loans | ' | '1 year |
Maximum time period of maturities | ' | '30 years |
Average reserve balance under Federal Reserve Board requirements | $11,078 | $2,959 |
Minimum [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Range of fixed interest rate loan commitments | 2.25% | 2.25% |
Maximum [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Range of fixed interest rate loan commitments | 15.00% | 15.00% |
Pension_Information_Additional
Pension Information - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2014 | Dec. 31, 2013 | |
Compensation And Retirement Disclosure [Abstract] | ' | ' |
Pension plan eligibility age of employees | '20 years 6 months | ' |
Pension plan eligibility service period of employees | '6 months | ' |
Pension plan eligibility service hours of employees | '1000 hours | ' |
Additional benefits under pension plan | $0 | ' |
Expected future employer contributions | 945,000 | ' |
Employer contributions | ' | 4,900,000 |
Employer settlements of several retirements | ' | $3,000,000 |
Pension_Information_Components
Pension Information - Components of Net Periodic Pension Expense (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Compensation And Retirement Disclosure [Abstract] | ' | ' |
Service cost | $76 | $273 |
Interest cost | 180 | 201 |
Expected return on plan assets | -280 | -219 |
Net amortization | 43 | 158 |
Net periodic pension cost | $19 | $413 |
Stock_Options_Additional_Infor
Stock Options - Additional Information (Detail) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Option term maximum period | '10 years | ' |
Option term minimum period | '3 years | ' |
Options issued | 0 | ' |
Options outstanding under the plan expired | 'April 12, 2013 | ' |
Corporation's Stock Option Plan [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Maximum number of shares under stock option plan authorized for issuance | 225,000 | ' |
Stock_Options_Summary_of_Activ
Stock Options - Summary of Activity in Stock Option Plan (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Shares, Outstanding at beginning of year | ' | 10,000 |
Shares, Granted | 0 | ' |
Shares, Exercised | ' | ' |
Shares, Forfeited | ' | ' |
Shares, Expired | ' | ' |
Shares, Options outstanding, end of period | ' | 10,000 |
Shares, Options exercisable, end of period | ' | 10,000 |
Weighted Average Exercise Price Per Share, Outstanding at beginning of period | ' | $35 |
Weighted Average Exercise Price Per Share, Granted | ' | ' |
Weighted Average Exercise Price Per Share, Exercised | ' | ' |
Weighted Average Exercise Price Per Share, Forfeited | ' | ' |
Weighted Average Exercise Price Per Share, Expired | ' | ' |
Weighted Average Exercise Price Per Share, Options outstanding, end of period | ' | $35 |
Weighted Average Exercise Price, Options exercisable, end of period | ' | $35 |
Fair_Value_Measurement_Assets_
Fair Value Measurement - Assets Measured at Fair Value (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | $16,245 | $15,548 |
(Level 1) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 1) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 1) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Mortgage-backed Securities in Government Sponsored Entities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 1) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Equity Securities in Financial Institutions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 1) [Member] | Assets Measured at Fair Value on a Nonrecurring Basis [Member] | Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 1) [Member] | Assets Measured at Fair Value on a Nonrecurring Basis [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | 52,406 | 51,560 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | 83,310 | 80,625 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Mortgage-backed Securities in Government Sponsored Entities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | 67,800 | 66,979 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Equity Securities in Financial Institutions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | 481 | 449 |
(Level 2) [Member] | Assets Measured at Fair Value on a Nonrecurring Basis [Member] | Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 2) [Member] | Assets Measured at Fair Value on a Nonrecurring Basis [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 3) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 3) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Obligations of States and Political Subdivisions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 3) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Mortgage-backed Securities in Government Sponsored Entities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 3) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Equity Securities in Financial Institutions [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | ' | ' |
(Level 3) [Member] | Assets Measured at Fair Value on a Nonrecurring Basis [Member] | Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | 16,245 | 15,548 |
(Level 3) [Member] | Assets Measured at Fair Value on a Nonrecurring Basis [Member] | Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | $196 | $173 |
Fair_Value_Measurement_Quantit
Fair Value Measurement - Quantitative Information about Level 3 Fair Value Measurements (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Impaired Loans [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Estimate | 16,245 | 15,548 |
Impaired Loans [Member] | Appraisal of Collateral [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Measurements, Valuation Technique | 'Appraisal of collateral | 'Appraisal of collateral |
Impaired Loans [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Measurements, Valuation Technique | 'Discounted cash flows | 'Discounted cash flows |
Other Real Estate Owned [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Estimate | 196 | 173 |
Other Real Estate Owned [Member] | Appraisal of Collateral [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Measurements, Valuation Technique | 'Appraisal of collateral | 'Appraisal of collateral |
Maximum [Member] | Impaired Loans [Member] | Appraisal of Collateral [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Assumptions, Appraisal adjustments | 30.00% | 30.00% |
Fair Value Assumptions, Liquidation expense | 10.00% | 10.00% |
Fair Value Assumptions, Holding period | '30 months | '30 months |
Maximum [Member] | Impaired Loans [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Assumptions, Discount rates | 8.00% | 8.50% |
Maximum [Member] | Other Real Estate Owned [Member] | Appraisal of Collateral [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Assumptions, Appraisal adjustments | 30.00% | 30.00% |
Fair Value Assumptions, Liquidation expense | 10.00% | 10.00% |
Minimum [Member] | Impaired Loans [Member] | Appraisal of Collateral [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Assumptions, Appraisal adjustments | 10.00% | 10.00% |
Fair Value Assumptions, Liquidation expense | 0.00% | 0.00% |
Fair Value Assumptions, Holding period | '0 months | '0 months |
Minimum [Member] | Impaired Loans [Member] | Discounted Cash Flows [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Assumptions, Discount rates | 3.80% | 2.00% |
Minimum [Member] | Other Real Estate Owned [Member] | Appraisal of Collateral [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Assumptions, Appraisal adjustments | 10.00% | 10.00% |
Fair Value Assumptions, Liquidation expense | 0.00% | 0.00% |
Fair_Value_Measurement_Carryin
Fair Value Measurement - Carrying Amount and Fair Values of Financial Instruments (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financial Assets: | ' | ' |
Securities available for sale | $203,997 | $199,613 |
Carrying Amount [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from financial institutions | 119,715 | 33,883 |
Securities available for sale | 203,997 | 199,613 |
Other securities | 12,414 | 15,424 |
Loans, held for sale | 545 | 438 |
Loans, net of allowance for loan losses | 840,601 | 844,713 |
Bank owned life insurance | 19,275 | 19,145 |
Accrued interest receivable | 4,202 | 3,881 |
Financial Liabilities: | ' | ' |
Nonmaturing deposits | 813,492 | 706,126 |
Time deposits | 231,328 | 236,349 |
Federal Home Loan Bank advances | 37,717 | 37,726 |
Securities sold under agreement to repurchase | 17,949 | 20,053 |
Subordinated debentures | 29,427 | 29,427 |
Accrued interest payable | 151 | 156 |
Total Fair Value [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from financial institutions | 119,715 | 33,883 |
Securities available for sale | 203,997 | 199,613 |
Other securities | 12,414 | 15,424 |
Loans, held for sale | 545 | 438 |
Loans, net of allowance for loan losses | 857,601 | 861,252 |
Bank owned life insurance | 19,275 | 19,145 |
Accrued interest receivable | 4,202 | 3,881 |
Financial Liabilities: | ' | ' |
Nonmaturing deposits | 813,492 | 706,126 |
Time deposits | 233,610 | 237,837 |
Federal Home Loan Bank advances | 38,004 | 38,767 |
Securities sold under agreement to repurchase | 17,949 | 20,053 |
Subordinated debentures | 22,078 | 20,605 |
Accrued interest payable | 151 | 156 |
(Level 1) [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from financial institutions | 119,715 | 33,883 |
Securities available for sale | ' | ' |
Other securities | 12,414 | 15,424 |
Loans, held for sale | 545 | 438 |
Loans, net of allowance for loan losses | ' | ' |
Bank owned life insurance | 19,275 | 19,145 |
Accrued interest receivable | 4,202 | 3,881 |
Financial Liabilities: | ' | ' |
Nonmaturing deposits | 813,492 | 706,126 |
Time deposits | ' | ' |
Federal Home Loan Bank advances | ' | ' |
Securities sold under agreement to repurchase | 17,949 | 20,053 |
Subordinated debentures | ' | ' |
Accrued interest payable | 151 | 156 |
(Level 2) [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from financial institutions | ' | ' |
Securities available for sale | 203,997 | 199,613 |
Other securities | ' | ' |
Loans, held for sale | ' | ' |
Loans, net of allowance for loan losses | ' | ' |
Bank owned life insurance | ' | ' |
Accrued interest receivable | ' | ' |
Financial Liabilities: | ' | ' |
Nonmaturing deposits | ' | ' |
Time deposits | ' | ' |
Federal Home Loan Bank advances | ' | ' |
Securities sold under agreement to repurchase | ' | ' |
Subordinated debentures | ' | ' |
Accrued interest payable | ' | ' |
(Level 3) [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from financial institutions | ' | ' |
Securities available for sale | ' | ' |
Other securities | ' | ' |
Loans, held for sale | ' | ' |
Loans, net of allowance for loan losses | 857,601 | 861,252 |
Bank owned life insurance | ' | ' |
Accrued interest receivable | ' | ' |
Financial Liabilities: | ' | ' |
Nonmaturing deposits | ' | ' |
Time deposits | 233,610 | 237,837 |
Federal Home Loan Bank advances | 38,004 | 38,767 |
Securities sold under agreement to repurchase | ' | ' |
Subordinated debentures | 22,078 | 20,605 |
Accrued interest payable | ' | ' |
Participation_in_the_US_Treasu1
Participation in the U.S. Treasury Troubled Asset Relief Program - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 0 Months Ended | 0 Months Ended | ||||
Jan. 23, 2009 | Mar. 31, 2014 | Feb. 15, 2014 | Jan. 17, 2014 | Jul. 03, 2012 | Sep. 05, 2012 | Dec. 19, 2013 | Dec. 19, 2013 | |
Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Depositary Shares [Member] | |||
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Newly issued shares | 23,184 | ' | ' | ' | ' | ' | ' | 1,000,000 |
Number of shares issued and sold to Treasury | 23,184 | ' | ' | ' | ' | ' | ' | ' |
Liquidation preference as per securities purchase agreement | $1,000 | ' | ' | ' | ' | ' | ' | $1,000 |
Warrant sold to purchase common shares as per securities purchase agreement | 469,312 | ' | ' | ' | ' | ' | ' | ' |
Warrant exercise price per common share | 7.41 | ' | ' | ' | ' | ' | ' | ' |
Term of Warrant | ' | '10 years | ' | ' | ' | ' | ' | ' |
Cumulative dividend rate per annum on liquidation preference, first five years | ' | 5.00% | ' | ' | ' | ' | ' | ' |
Cumulative dividend rate per annum on liquidation preference, after five years | ' | 9.00% | ' | ' | ' | ' | ' | ' |
Numbers of shares to redeem | ' | ' | ' | ' | 23,184 | ' | ' | ' |
Aggregate purchase price of warrant | ' | ' | ' | ' | ' | $563 | ' | ' |
Percentage of ownership Interest | ' | ' | ' | ' | ' | ' | ' | 2.50% |
Dividend on preferred stock | ' | ' | ' | ' | ' | ' | 6.50% | ' |
Share issued price per share | ' | ' | ' | ' | ' | ' | ' | $25 |
Gross proceeds from public offering | ' | ' | ' | ' | ' | ' | ' | 25,000 |
Numbers of shares to redeem | ' | ' | ' | 23,184 | ' | ' | ' | ' |
Aggregate purchase price of Preferred stock | ' | ' | $22,856 | ' | ' | ' | ' | ' |
Preferred stock redemption date | ' | ' | ' | 15-Feb-14 | ' | ' | ' | ' |