Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Nov. 06, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'FCZA | ' |
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 $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from financial institutions | $24,128 | $34,186 |
Securities available for sale | 200,891 | 199,613 |
Loans held for sale | 1,399 | 438 |
Loans, net of allowance of $15,445 and $16,528 | 871,573 | 844,713 |
Other securities | 12,554 | 15,424 |
Premises and equipment, net | 14,471 | 16,313 |
Accrued interest receivable | 4,523 | 3,881 |
Goodwill | 21,720 | 21,720 |
Other intangibles | 2,180 | 2,763 |
Bank owned life insurance | 19,518 | 19,145 |
Other assets | 9,042 | 9,350 |
Total assets | 1,181,999 | 1,167,546 |
Deposits | ' | ' |
Noninterest-bearing | 253,154 | 234,976 |
Interest-bearing | 727,480 | 707,499 |
Total deposits | 980,634 | 942,475 |
Federal Home Loan Bank advances | 26,200 | 37,726 |
Securities sold under agreements to repurchase | 20,128 | 20,053 |
Subordinated debentures | 29,427 | 29,427 |
Accrued expenses and other liabilities | 9,727 | 9,489 |
Total liabilities | 1,066,116 | 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 | -5,785 | -10,823 |
Treasury shares, 747,964 shares at cost | -17,235 | -17,235 |
Accumulated other comprehensive income (loss) | 1,406 | -4,247 |
Total shareholders' equity | 115,883 | 128,376 |
Total liabilities and shareholders' equity | 1,181,999 | 1,167,546 |
Series A Preferred Stock [Member] | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' |
Preferred shares | ' | 23,184 |
Series B Preferred Stock [Member] | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' |
Preferred shares | $23,132 | $23,132 |
Consolidated_Balance_Sheets_Un1
Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Allowance for loan losses | $15,445,000 | $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 | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Interest and dividend income | ' | ' | ' | ' |
Loans, including fees | $10,218 | $9,621 | $29,850 | $28,871 |
Taxable securities | 845 | 901 | 2,610 | 2,826 |
Tax-exempt securities | 595 | 579 | 1,750 | 1,637 |
Federal funds sold and other | 9 | 26 | 137 | 104 |
Total interest income | 11,667 | 11,127 | 34,347 | 33,438 |
Interest expense | ' | ' | ' | ' |
Deposits | 552 | 674 | 1,740 | 2,134 |
Federal Home Loan Bank advances | 236 | 339 | 887 | 1,029 |
Subordinated debentures | 190 | 192 | 590 | 575 |
Other | 5 | 5 | 15 | 16 |
Total interest expense | 983 | 1,210 | 3,232 | 3,754 |
Net interest income | 10,684 | 9,917 | 31,115 | 29,684 |
Provision for loan losses | ' | 300 | 1,500 | 1,100 |
Net interest income after provision for loan losses | 10,684 | 9,617 | 29,615 | 28,584 |
Noninterest income | ' | ' | ' | ' |
Service charges | 1,071 | 1,088 | 3,078 | 3,120 |
Net gain on sale of securities | 1 | 80 | 114 | 138 |
Net gain on sale of loans | 239 | 86 | 470 | 574 |
ATM fees | 520 | 523 | 1,494 | 1,494 |
Trust fees | 822 | 735 | 2,396 | 1,963 |
Bank owned life insurance | 118 | 132 | 373 | 423 |
Tax refund processing fees | 6 | 3 | 2,321 | 429 |
Item processing fees | 61 | 57 | 190 | 182 |
Other | 174 | 373 | 580 | 800 |
Total noninterest income | 3,012 | 3,077 | 11,016 | 9,123 |
Noninterest expense | ' | ' | ' | ' |
Salaries, wages and benefits | 5,657 | 5,753 | 16,661 | 16,839 |
Net occupancy expense | 510 | 522 | 1,771 | 1,685 |
Equipment expense | 320 | 291 | 1,023 | 859 |
Contracted data processing | 369 | 324 | 1,080 | 966 |
FDIC assessment | 212 | 233 | 700 | 779 |
State franchise tax | 240 | 319 | 680 | 883 |
Professional services | 538 | 495 | 1,332 | 1,472 |
Amortization of intangible assets | 201 | 212 | 604 | 636 |
ATM expense | 203 | 167 | 606 | 483 |
Repossession Expense | 187 | 374 | 521 | 831 |
Marketing | 300 | 192 | 901 | 577 |
Other operating expenses | 1,924 | 1,863 | 5,189 | 5,287 |
Total noninterest expense | 10,661 | 10,745 | 31,068 | 31,297 |
Income before taxes | 3,035 | 1,949 | 9,563 | 6,410 |
Income tax expense | 729 | 383 | 2,306 | 1,274 |
Net Income | 2,306 | 1,566 | 7,257 | 5,136 |
Preferred stock dividends and discount accretion | 406 | 289 | 1,467 | 869 |
Net income available to common shareholders | $1,900 | $1,277 | $5,790 | $4,267 |
Earnings per common share, basic | $0.25 | $0.17 | $0.75 | $0.55 |
Earnings per common share, diluted | $0.21 | $0.17 | $0.64 | $0.55 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $2,306 | $1,566 | $7,257 | $5,136 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized holding gains (loss) on available for sale securities | 615 | -966 | 4,303 | -7,310 |
Tax effect | -210 | 328 | -1,462 | 2,485 |
Pension liability adjustment | 89 | 180 | 4,260 | 518 |
Tax effect | -31 | -61 | -1,448 | -176 |
Total other comprehensive income (loss) | 463 | -519 | 5,653 | -4,483 |
Comprehensive income | $2,769 | $1,047 | $12,910 | $653 |
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) | ($4,247) |
Balance, shares at Dec. 31, 2013 | ' | 48,184 | 7,707,917 | ' | ' | ' |
Net income | 7,257 | ' | ' | 7,257 | ' | ' |
Other comprehensive income | 5,653 | ' | ' | ' | ' | 5,653 |
Redemption of Series A preferred shares, Value | -22,857 | -23,184 | ' | 327 | ' | ' |
Redemption of Series A preferred shares | ' | -23,184 | ' | ' | ' | ' |
Common share dividends ($.14 per share) | -1,079 | ' | ' | -1,079 | ' | ' |
Preferred share dividend | -1,467 | ' | ' | -1,467 | ' | ' |
Balance at Sep. 30, 2014 | $115,883 | $23,132 | $114,365 | ($5,785) | ($17,235) | $1,406 |
Balance, shares at Sep. 30, 2014 | ' | 25,000 | 7,707,917 | ' | ' | ' |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Shareholders' Equity (Unaudited) (Parenthetical) (USD $) | 9 Months Ended |
Sep. 30, 2014 | |
Cash dividends per share | $0.14 |
Accumulated Deficit [Member] | ' |
Cash dividends per share | $0.14 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Cash Flows [Abstract] | ' | ' |
Net cash from operating activities | $11,043 | $6,784 |
Cash flows used for investing activities: | ' | ' |
Maturities and calls of securities, available-for-sale | 38,343 | 41,605 |
Purchases of securities, available-for-sale | -54,425 | -55,140 |
Sale of securities available for sale | 18,088 | 8,686 |
Redemption of Federal Reserve stock | ' | 134 |
Redemption of Federal Home Loan Bank stock | 3,009 | ' |
Purchases of Federal Reserve stock | -139 | ' |
Net loan originations | -25,406 | -7,832 |
Purchases of consumer loans | -3,120 | ' |
Proceeds from sale of other real estate owned properties | 191 | 635 |
Proceeds from sale of premises and equipment | 1,310 | 130 |
Purchases of premises and equipment | -257 | -457 |
Net cash used for investing activities | -22,406 | -12,239 |
Cash flows from financing activities: | ' | ' |
Repayment of FHLB advances | -30,226 | -2,526 |
Proceeds from short-term FHLB advances | 8,700 | ' |
Proceeds from long-term FHLB advances | 10,000 | ' |
Increase in deposits | 38,159 | 16,069 |
Increase (decrease) in securities sold under repurchase agreements | 75 | -2,409 |
Repayment of Series A Preferred stock | -22,857 | 0 |
Cash dividends paid on common shares and preferred shares | -2,546 | -1,717 |
Net cash provided by financing activities | 1,305 | 9,417 |
(Decrease) increase in cash and due from financial institutions | -10,058 | 3,962 |
Cash and due from financial institutions at beginning of period | 34,186 | 46,131 |
Cash and due from financial institutions at end of period | 24,128 | 50,093 |
Cash paid during the period for: | ' | ' |
Interest | 3,254 | 3,780 |
Income taxes | 950 | 1,010 |
Supplemental cash flow information: | ' | ' |
Transfer of loans from portfolio to other real estate owned | $261 | $202 |
Consolidated_Financial_Stateme
Consolidated Financial Statements | 9 Months Ended |
Sep. 30, 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 intercompany 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 September 30, 2014 and its results of operations and changes in cash flows for the periods ended September 30, 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 September 30, 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. Citizens has one concentration to lessors of residential buildings and dwellings totaling $112,690 or 12.7 percent of total loans as of September 30, 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 September 30, 2014. Water St. revenue was less than 1.0% of total revenue through September 30, 2014. Management considers the Company to operate primarily in one reportable segment, banking. |
Significant_Accounting_Policie
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 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. | |
Derivative Instruments and Hedging Activities: The Company enters into interest rate swap agreements to facilitate the risk management strategies of a small number of commercial banking customers. All derivatives are accounted for in accordance with ASC-815, Derivatives and Hedging. The Company mitigates the risk of entering into these agreements by entering into equal and offsetting swap agreements with highly rated third party financial institutions. The swap agreements are free-standing derivatives and are recorded at fair value in the Company’s consolidated balance sheets. The Company is party to master netting arrangements with its financial institution counterparties; however, the Company does not offset assets and liabilities under these arrangements for financial statement presentation purposes because the Company does not currently intend to execute a setoff with its’ counterparties. The master netting arrangements provide for a single net settlement of all swap agreements, as well as collateral, in the event of default on, or termination of, any one contract. Collateral, usually in the form of marketable securities, is posted by the counterparty with net liability positions in accordance with contract thresholds. | |
Effect of Newly Issued but Not Yet Effective Accounting Standards: | |
In January 2014, FASB issued ASU 2014-01, Investments – Equity Method and Joint 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. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (a new revenue recognition standard). The Update’s core principle is that a company will recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, this Update specifies the accounting for certain costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. This Update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company is evaluating the effect of adopting this new accounting Update. | |
In June 2014, the FASB issued ASU 2014-10, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this Update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. For repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments also require enhanced disclosures. The accounting changes in this Update are effective for the first interim or annual period beginning after December 15, 2014. An entity is required to present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Earlier application is prohibited. The disclosure for certain transactions accounted for as a sale is required to be presented for interim and annual periods beginning after December 15, 2014, and the disclosure for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The disclosures are not required to be presented for comparative periods before the effective date. This Update is not expected to have a significant impact on the Company’s financial statements. | |
In June 2014, the FASB issued ASU 2014-12, Compensation-Stock Compensation (Topic 718): Accounting for Share-Based Payments when the Terms of an Award Provide that a Performance Target Could Be Achieved After the Requisite Service Period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The amendments in this Update are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this Update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations. |
Securities
Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 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: | |||||||||||||||||||||||||
September 30, 2014 | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 44,857 | $ | 104 | $ | (222 | ) | $ | 44,739 | ||||||||||||||||
Obligations of states and political subdivisions | 83,044 | 4,587 | (378 | ) | 87,253 | ||||||||||||||||||||
Mortgage-backed securities in government sponsored entities | 67,687 | 1,033 | (354 | ) | 68,366 | ||||||||||||||||||||
Total debt securities | 195,588 | 5,724 | (954 | ) | 200,358 | ||||||||||||||||||||
Equity securities in financial institutions | 481 | 52 | — | 533 | |||||||||||||||||||||
Total | $ | 196,069 | $ | 5,776 | $ | (954 | ) | $ | 200,891 | ||||||||||||||||
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 September 30, 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 | $ | 135 | $ | 135 | |||||||||||||||||||||
Due after one year through five years | 28,358 | 28,343 | |||||||||||||||||||||||
Due after five years through ten years | 38,590 | 40,032 | |||||||||||||||||||||||
Due after ten years | 60,818 | 63,482 | |||||||||||||||||||||||
Mortgage-backed securities | 67,687 | 68,366 | |||||||||||||||||||||||
Equity securities | 481 | 533 | |||||||||||||||||||||||
Total securities available for sale | $ | 196,069 | $ | 200,891 | |||||||||||||||||||||
Proceeds from sales of securities, gross realized gains and gross realized losses were as follows. | |||||||||||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Sale proceeds | $ | — | $ | 927 | $ | 18,088 | $ | 8,686 | |||||||||||||||||
Gross realized gains | — | — | 113 | 144 | |||||||||||||||||||||
Gross realized losses | — | — | — | 89 | |||||||||||||||||||||
Gains from securities called or settled by the issuer | 1 | 80 | 1 | 83 | |||||||||||||||||||||
Securities were pledged to secure public deposits, other deposits and liabilities as required by law. The carrying value of pledged securities was approximately $145,409 and $147,625 as of September 30, 2014 and December 31, 2013, respectively. | |||||||||||||||||||||||||
Securities with unrealized losses at September 30, 2014 and December 31, 2013 not recognized in income, aggregated by investment category and the length of time which the individual securities have been in a loss position, are as follows: | |||||||||||||||||||||||||
September 30, 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 | $ | 10,540 | $ | (18 | ) | $ | 19,198 | $ | (204 | ) | $ | 29,738 | $ | (222 | ) | ||||||||||
Obligations of states and political subdivisions | 1,467 | (3 | ) | 8,644 | (375 | ) | 10,111 | (378 | ) | ||||||||||||||||
Mortgage-backed securities in gov’t sponsored entities | 20,541 | (151 | ) | 14,396 | (203 | ) | 34,937 | (354 | ) | ||||||||||||||||
Total temporarily impaired | $ | 32,548 | $ | (172 | ) | $ | 42,238 | $ | (782 | ) | $ | 74,786 | $ | (954 | ) | ||||||||||
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 September 30, 2014 there were fifty-six 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 | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Receivables [Abstract] | ' | ||||||||
Loans | ' | ||||||||
(4) Loans | |||||||||
Loan balances were as follows: | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Commercial and agriculture | $ | 106,613 | $ | 115,875 | |||||
Commercial real estate | 445,168 | 443,846 | |||||||
Residential real estate | 265,866 | 250,691 | |||||||
Real estate construction | 55,244 | 39,964 | |||||||
Consumer and other | 14,127 | 10,865 | |||||||
Total loans | 887,018 | 861,241 | |||||||
Allowance for loan losses | (15,445 | ) | (16,528 | ) | |||||
Net loans | $ | 871,573 | $ | 844,713 | |||||
Included in total loans above are deferred loan fees of $261 at September 30, 2014 and $365 at December 31, 2013. |
Allowance_for_Loan_Losses
Allowance for Loan Losses | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 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 $15,445 adequate to cover loan losses inherent in the loan portfolio, at September 30, 2014. The following tables present, by portfolio segment, the changes in the allowance for loan losses and the loan balances outstanding for the nine months ended September 30, 2014 and 2013. | |||||||||||||||||||||||||||||
Commercial & | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
For the nine months ended September 30, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 2,841 | $ | 7,559 | $ | 5,224 | $ | 184 | $ | 214 | $ | 506 | $ | 16,528 | |||||||||||||||
Charge-offs | (326 | ) | (1,720 | ) | (1,329 | ) | — | (65 | ) | — | (3,440 | ) | |||||||||||||||||
Recoveries | 238 | 350 | 216 | 5 | 48 | — | 857 | ||||||||||||||||||||||
Provision | (1,148 | ) | 1,655 | 201 | 176 | 18 | 598 | 1,500 | |||||||||||||||||||||
Ending Balance | $ | 1,605 | $ | 7,844 | $ | 4,312 | $ | 365 | $ | 215 | $ | 1,104 | $ | 15,445 | |||||||||||||||
For the nine months ended September 30, 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, which was driven by a decrease in the volume of impaired loans. The net result of these changes was represented as a decrease in the provision. The increase in the allowance for Commercial Real Estate loans was the result of large charge offs, which led to increased general reserves due to an increase in loss rate. The net result of these changes was represented as an increase in the provision. The allowance for Residential Real Estate loans decreased during the period due to charge-offs of loans that had a specific reserve previously applied and a significant decline in past-dues and nonaccrual loans. The net result of these changes was represented as a decrease in the allowance. The allowance for Consumer and Other loans increased slightly from the beginning of the year. While loan balances and past-dues are up, loss rates continue to decrease resulting in the allowance being relatively unchanged. Overall, we have seen continued improvement in asset quality and loss rates. However, since the process of estimating probable credit losses requires considerable judgment, management decided to increase unallocated reserves. Unallocated reserves remain within policy guidelines as a percent of total reserves at 7.1 percent. | |||||||||||||||||||||||||||||
Commercial & | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
For the nine months ended September 30, 2013 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 2,811 | $ | 10,139 | $ | 5,780 | $ | 349 | $ | 246 | $ | 417 | $ | 19,742 | |||||||||||||||
Charge-offs | (301 | ) | (1,266 | ) | (2,579 | ) | (136 | ) | (183 | ) | — | (4,465 | ) | ||||||||||||||||
Recoveries | 123 | 257 | 364 | 107 | 69 | — | 920 | ||||||||||||||||||||||
Provision | 418 | (1,221 | ) | 1,312 | (160 | ) | 27 | 724 | 1,100 | ||||||||||||||||||||
Ending Balance | $ | 3,051 | $ | 7,909 | $ | 4,877 | $ | 160 | $ | 159 | $ | 1,141 | $ | 17,297 | |||||||||||||||
For the nine months ended September 30, 2013, the allowance for Commercial Real Estate 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 allowance for Real Estate Construction loans was reduced as a result of changes to specific reserves required and the historical charge-offs for this type. The result of these changes was represented as a decrease in the provision. The ending reserve balance for Residential Real Estate loans declined from the end of the previous year due to charge-offs during the period. Since these charged-off loans already had specific reserves assigned to them, we no longer need to carry as large a reserve for this segment. While we have seen improvement in asset quality, given the uncertainty in the economy, management determined that it was appropriate to maintain unallocated reserves at a higher level at this time. | |||||||||||||||||||||||||||||
Commercial & | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
For the three months ended September 30, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 2,067 | $ | 7,988 | $ | 4,439 | $ | 287 | $ | 196 | $ | 418 | $ | 15,395 | |||||||||||||||
Charge-offs | (13 | ) | (146 | ) | (275 | ) | — | (22 | ) | — | (456 | ) | |||||||||||||||||
Recoveries | 143 | 251 | 95 | 2 | 15 | — | 506 | ||||||||||||||||||||||
Provision | (592 | ) | (249 | ) | 53 | 76 | 26 | 686 | — | ||||||||||||||||||||
Ending Balance | $ | 1,605 | $ | 7,844 | $ | 4,312 | $ | 365 | $ | 215 | $ | 1,104 | $ | 15,445 | |||||||||||||||
For the three months ended September 30, 2014, the allowance for Commercial and Agriculture loans was reduced not only by charge-offs, but also due to a decrease in the loan balances outstanding, the balance of impaired loans in this segment and decreases in both the specific and general reserves required for this type. The allowance for Commercial Real Estate loans was reduced not only by charge-offs, but also due to a decrease in both the specific and general reserves required for this type. The result of these changes for each loan type was represented as a decrease in the provision. The allowance for Residential Real Estate loans was reduced as a result of charge offs, a reduction in total loans past due and a reduction in nonaccrual loans, partially offset by changes related to increased volume. The net result of these changes was represented as a decrease in the allowance. We have seen continued improvement in asset quality and loss rates. However, since the process of estimating probable credit losses requires considerable judgment, management decided to increase unallocated reserves. Unallocated reserves remain within policy guidelines as a percent of total reserves at 7.1 percent. | |||||||||||||||||||||||||||||
Commercial & | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
For the three months ended September 30, 2013 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 3,775 | $ | 9,156 | $ | 5,169 | $ | 184 | $ | 149 | $ | 972 | $ | 19,405 | |||||||||||||||
Charge-offs | (210 | ) | (635 | ) | (1,558 | ) | (136 | ) | (61 | ) | — | (2,600 | ) | ||||||||||||||||
Recoveries | 62 | 34 | 63 | 1 | 32 | — | 192 | ||||||||||||||||||||||
Provision | (576 | ) | (646 | ) | 1,203 | 111 | 39 | 169 | 300 | ||||||||||||||||||||
Ending Balance | $ | 3,051 | $ | 7,909 | $ | 4,877 | $ | 160 | $ | 159 | $ | 1,141 | $ | 17,297 | |||||||||||||||
For the three months ended September 30, 2013, the allowance for Commercial and Agriculture loans was reduced not only by charge-offs, but also due to a decrease in the loan balances outstanding and decreases in both the specific and general reserves required for this type. The allowance for Commercial Real Estate loans was reduced not only by charge-offs, but also due to a decrease in both the specific and general reserves required for this type. The result of these changes for each loan type was represented as a decrease in the provision. The ending reserve balance for Residential Real Estate loans declined due to charge-offs during the period. Since these charged-off loans already had specific reserves assigned to them, we no longer need to carry as large a reserve for this segment. While we have seen improvement in asset quality, given the uncertainty in the economy, management determined that it was appropriate to maintain unallocated reserves at a higher level at this time. | |||||||||||||||||||||||||||||
Commercial & | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 655 | $ | 67 | $ | 896 | $ | — | $ | — | $ | — | $ | 1,618 | |||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 950 | $ | 7,777 | $ | 3,416 | $ | 365 | $ | 215 | $ | 1,104 | $ | 13,827 | |||||||||||||||
Ending Balance | $ | 1,605 | $ | 7,844 | $ | 4,312 | $ | 365 | $ | 215 | $ | 1,104 | $ | 15,445 | |||||||||||||||
Loan balances outstanding: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,319 | $ | 6,638 | $ | 3,518 | $ | — | $ | 6 | $ | 12,481 | |||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 104,294 | $ | 438,530 | $ | 262,348 | $ | 55,244 | $ | 14,121 | $ | 874,537 | |||||||||||||||||
Ending Balance | $ | 106,613 | $ | 445,168 | $ | 265,866 | $ | 55,244 | $ | 14,127 | $ | 887,018 | |||||||||||||||||
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 periods ended September 30, 2014 and December 31, 2013. The remaining loans in Residential Real Estate, Real Estate Construction and Consumer and Other loans that are not assigned a risk grade are presented in a separate table below. 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 and Other loans are not risk-graded, except when collateral is used for a business purpose. | |||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Real Estate | Consumer | Total | ||||||||||||||||||||||||
& | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
Agriculture | |||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||
Pass | $ | 99,513 | $ | 415,368 | $ | 101,124 | $ | 49,587 | $ | 4,706 | $ | 670,298 | |||||||||||||||||
Special Mention | 3,905 | 15,534 | 613 | 20 | — | 20,072 | |||||||||||||||||||||||
Substandard | 3,195 | 14,266 | 8,897 | 43 | 73 | 26,474 | |||||||||||||||||||||||
Doubtful | — | — | 715 | — | — | 715 | |||||||||||||||||||||||
Ending Balance | $ | 106,613 | $ | 445,168 | $ | 111,349 | $ | 49,650 | $ | 4,779 | $ | 717,559 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
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 periods ended September 30, 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 | and Other | |||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||
Performing | $ | 154,464 | $ | 5,594 | $ | 9,348 | $ | 169,406 | |||||||||||||||||||||
Nonperforming | 53 | — | — | 53 | |||||||||||||||||||||||||
Total | $ | 154,517 | $ | 5,594 | $ | 9,348 | $ | 169,459 | |||||||||||||||||||||
Residential | Real Estate | Consumer | Total | ||||||||||||||||||||||||||
Real Estate | Construction | and Other | |||||||||||||||||||||||||||
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 include an aging analysis of the recorded investment of past due loans outstanding as of September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
September 30, 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 | $ | 4 | $ | — | $ | 208 | $ | 212 | $ | 106,401 | $ | 106,613 | $ | — | |||||||||||||||
Commercial Real Estate | 301 | 68 | 1,258 | 1,627 | 443,541 | 445,168 | — | ||||||||||||||||||||||
Residential Real Estate | 810 | 768 | 4,164 | 5,742 | 260,124 | 265,866 | — | ||||||||||||||||||||||
Real Estate Construction | — | — | 43 | 43 | 55,201 | 55,244 | — | ||||||||||||||||||||||
Consumer and Other | 43 | 46 | 41 | 130 | 13,997 | 14,127 | — | ||||||||||||||||||||||
Total | $ | 1,158 | $ | 882 | $ | 5,714 | $ | 7,754 | $ | 879,264 | $ | 887,018 | $ | — | |||||||||||||||
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. Loans that are not delinquent 90 days or more may still be considered for nonaccrual status if management has recognized one or more weaknesses in a loan that indicate the Company may not be assured of collecting all principal and interest contractually due under terms of the loan. 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 September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
Commercial & Agriculture | $ | 1,148 | $ | 1,590 | |||||||||||||||||||||||||
Commercial Real Estate | 5,993 | 9,609 | |||||||||||||||||||||||||||
Residential Real Estate | 8,571 | 9,210 | |||||||||||||||||||||||||||
Real Estate Construction | 43 | — | |||||||||||||||||||||||||||
Consumer and Other | 75 | 50 | |||||||||||||||||||||||||||
Total | $ | 15,830 | $ | 20,459 | |||||||||||||||||||||||||
Modifications: A modification of a loan constitutes a troubled debt restructuring (“TDR”) when the Company for economic or legal reasons related to a borrower’s financial difficulties grants a concession to the borrower that it would not otherwise consider. The Company offers various types of concessions when modifying a loan, however, forgiveness of principal is rarely granted. Commercial Real Estate loans modified in a TDR often involve reducing the interest rate lower than the current market rate for new debt with similar risk. Real Estate loans modified in a TDR were primarily comprised of interest rate reductions where monthly payments were lowered to accommodate the borrowers’ financial needs. | |||||||||||||||||||||||||||||
Loans modified in a TDR are typically already on non-accrual status and partial charge-offs have in some cases already been taken against the outstanding loan balance. As a result, loans modified in a TDR may have the financial effect of increasing the specific allowance associated with the loan. An allowance for impaired loans that have been modified in a TDR are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the estimated fair value of the collateral, less any selling costs, if the loan is collateral dependent. Management exercises significant judgment in developing these estimates. | |||||||||||||||||||||||||||||
Loan modifications that are considered TDRs completed during the nine-month periods ended September 30, 2014 and September 30, 2013 were as follows: | |||||||||||||||||||||||||||||
For the Nine-Month Period Ended | For the Nine-Month Period Ended | ||||||||||||||||||||||||||||
September 30, 2014 | September 30, 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 | — | — | — | 2 | 547 | 547 | |||||||||||||||||||||||
Residential Real Estate | 5 | 245 | 245 | — | — | — | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | — | — | — | — | — | — | |||||||||||||||||||||||
Total Loan Modifications | 5 | $ | 245 | $ | 245 | 2 | $ | 547 | $ | 547 | |||||||||||||||||||
Loan modifications that are considered TDRs completed during the quarter ended September 30, 2014 and September 30, 2013 were as follows: | |||||||||||||||||||||||||||||
For the Three-Month Period Ended | For the Three-Month Period Ended | ||||||||||||||||||||||||||||
September 30, 2014 | September 30, 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 | 422 | 422 | |||||||||||||||||||||||
Residential Real Estate | 3 | 97 | 97 | — | — | — | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | — | — | — | — | — | — | |||||||||||||||||||||||
Total Loan Modifications | 3 | $ | 97 | $ | 97 | 1 | $ | 422 | $ | 422 | |||||||||||||||||||
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 September 30, 2014, TDRs accounted for $1,618 of the allowance for loan losses. | |||||||||||||||||||||||||||||
During the nine-month period ended September 30, 2014, there were no defaults on loans which were modified and considered TDRs during the twelve months previous to the nine-month period ended September 30, 2014. | |||||||||||||||||||||||||||||
During the nine-month period ended September 30, 2013, there were two defaults, totaling $66, on loans which were modified and considered TDRs during the twelve months previous to the nine-month period ended September 30, 2013. | |||||||||||||||||||||||||||||
During the three-month period ended September 30, 2014, there were no defaults on loans which were modified and considered TDRs during the twelve months previous to the three-month period ended September 30, 2014. | |||||||||||||||||||||||||||||
During the three-month period ended September 30, 2013, there were no defaults on loans which were modified and considered TDRs during the twelve months previous to the three-month period ended September 30, 2013. | |||||||||||||||||||||||||||||
Impaired Loans: Larger Commercial loans and Commercial Real Estate loans or lending relationships at or above $350,000, 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 table includes the recorded investment and unpaid principal balances for impaired financing receivables with the associated allowance amount, if applicable, as of September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
September 30, 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 | $ | 1,379 | $ | 1,504 | $ | — | $ | 1,525 | $ | 1,657 | $ | — | |||||||||||||||||
Commercial Real Estate | 5,632 | 6,191 | — | 5,983 | 6,214 | — | |||||||||||||||||||||||
Residential Real Estate | 2,115 | 3,675 | — | 1,202 | 2,263 | — | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | 6 | 6 | — | 8 | 8 | — | |||||||||||||||||||||||
Total | 9,132 | 11,376 | — | 8,718 | 10,142 | — | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial & Agriculture | 940 | 1,056 | 655 | 2,344 | 2,437 | 1,262 | |||||||||||||||||||||||
Commercial Real Estate | 1,006 | 1,123 | 67 | 4,192 | 4,496 | 445 | |||||||||||||||||||||||
Residential Real Estate | 1,403 | 3,017 | 896 | 2,803 | 4,021 | 802 | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | — | — | — | — | — | — | |||||||||||||||||||||||
Total | 3,349 | 5,196 | 1,618 | 9,339 | 10,954 | 2,509 | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial & Agriculture | 2,319 | 2,560 | 655 | 3,869 | 4,094 | 1,262 | |||||||||||||||||||||||
Commercial Real Estate | 6,638 | 7,314 | 67 | 10,175 | 10,710 | 445 | |||||||||||||||||||||||
Residential Real Estate | 3,518 | 6,692 | 896 | 4,005 | 6,284 | 802 | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | 6 | 6 | — | 8 | 8 | — | |||||||||||||||||||||||
Total | $ | 12,481 | $ | 16,572 | $ | 1,618 | $ | 18,057 | $ | 21,096 | $ | 2,509 | |||||||||||||||||
As of September 30, 2014, the Company has seen a significant decline in the unpaid principal balances for impaired financing receivables with a specific allowance as compared to December 31, 2013. The decline is the result of resolution of long term problem credits. | |||||||||||||||||||||||||||||
The following tables include the average recorded investment and interest income recognized for impaired financing receivables for the three and nine-month periods ended September 30, 2014 and 2013. | |||||||||||||||||||||||||||||
For the nine months ended: | September 30, 2014 | September 30, 2013 | |||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||
Commercial & Agriculture | $ | 3,570 | $ | 104 | $ | 4,984 | $ | 156 | |||||||||||||||||||||
Commercial Real Estate | 9,227 | 239 | 12,328 | 438 | |||||||||||||||||||||||||
Residential Real Estate | 3,559 | 220 | 5,324 | 287 | |||||||||||||||||||||||||
Real Estate Construction | — | — | 377 | — | |||||||||||||||||||||||||
Consumer and Other | 7 | — | 35 | — | |||||||||||||||||||||||||
Total | $ | 16,363 | $ | 563 | $ | 23,048 | $ | 881 | |||||||||||||||||||||
For the three months ended: | September 30, 2014 | September 30, 2013 | |||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||
Commercial & Agriculture | $ | 2,829 | $ | 25 | $ | 4,504 | $ | 25 | |||||||||||||||||||||
Commercial Real Estate | 7,884 | 17 | 11,237 | 29 | |||||||||||||||||||||||||
Residential Real Estate | 3,336 | 74 | 4,773 | 18 | |||||||||||||||||||||||||
Real Estate Construction | — | — | 240 | (11 | ) | ||||||||||||||||||||||||
Consumer and Other | 6 | — | 21 | — | |||||||||||||||||||||||||
Total | $ | 14,055 | $ | 116 | $ | 20,775 | $ | 61 | |||||||||||||||||||||
Other_Comprehensive_Income
Other Comprehensive Income | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Other Comprehensive Income | ' | ||||||||||||||||||||||||
(6) Other Comprehensive Income | |||||||||||||||||||||||||
The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the nine-month periods ended September 30, 2014 and 2013: | |||||||||||||||||||||||||
For the Nine-Month Period Ended | For the Nine-Month Period Ended | ||||||||||||||||||||||||
September 30, 2014 | September 30, 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 income (loss) before reclassifications | 2,916 | 2,666 | 5,582 | (4,734 | ) | — | (4,734 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (75 | ) | 146 | 71 | (91 | ) | 342 | 251 | |||||||||||||||||
Net current-period other comprehensive income (loss) | 2,841 | 2,812 | 5,653 | (4,825 | ) | 342 | (4,483 | ) | |||||||||||||||||
Ending balance | $ | 3,182 | $ | (1,776 | ) | $ | 1,406 | $ | 1,024 | $ | (7,154 | ) | $ | (6,130 | ) | ||||||||||
Amounts in parentheses indicate debits on the consolidated balance sheets. | |||||||||||||||||||||||||
The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the nine-month periods ended September 30, 2014 and 2013: | |||||||||||||||||||||||||
Amount Reclassified from | |||||||||||||||||||||||||
Accumulated Other Comprehensive | |||||||||||||||||||||||||
Income (Loss) (a) | |||||||||||||||||||||||||
Details about Accumulated Other Comprehensive | For the nine | For the nine | Affected Line Item in the | ||||||||||||||||||||||
Income (Loss) Components | months ended | months ended | |||||||||||||||||||||||
September 30, | September 30, | Statement Where Net Income | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
is Presented | |||||||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities | $ | 114 | $ | 138 | Net gain on sale of securities | ||||||||||||||||||||
Tax effect | (39 | ) | (47 | ) | Income tax expense | ||||||||||||||||||||
75 | 91 | Net of tax | |||||||||||||||||||||||
Amortization of defined benefit pension items | |||||||||||||||||||||||||
Actuarial losses | (222 | ) (b) | (518 | ) (b) | Salaries, wages and benefits | ||||||||||||||||||||
Tax effect | 76 | 176 | Income tax expense | ||||||||||||||||||||||
(146 | ) | (342 | ) | Net of tax | |||||||||||||||||||||
Total reclassifications for the period | $ | (71 | ) | $ | (251 | ) | Net of tax | ||||||||||||||||||
(a) | Amounts in parentheses indicate expenses and other amounts indicate income. | ||||||||||||||||||||||||
(b) | These accumulated other comprehensive income components are included in the computation of net periodic pension cost. | ||||||||||||||||||||||||
The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three-month periods ended September 30, 2014 and 2013: | |||||||||||||||||||||||||
For the Three-Month Period Ended | For the Three-Month Period Ended | ||||||||||||||||||||||||
September 30, 2014 | September 30, 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 Securities | Sale Securities | ||||||||||||||||||||||||
Beginning balance | $ | 2,777 | $ | (1,834 | ) | $ | 943 | $ | 1,662 | $ | (7,273 | ) | $ | (5,611 | ) | ||||||||||
Other comprehensive income (loss) before reclassifications | 406 | — | 406 | (585 | ) | — | (585 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (1 | ) | 58 | 57 | (53 | ) | 119 | 66 | |||||||||||||||||
Net current-period other comprehensive income (loss) | 405 | 58 | 463 | (638 | ) | 119 | (519 | ) | |||||||||||||||||
Ending balance | $ | 3,182 | $ | (1,776 | ) | $ | 1,406 | $ | 1,024 | $ | (7,154 | ) | $ | (6,130 | ) | ||||||||||
Amounts in parentheses indicate debits on the consolidated balance sheets. | |||||||||||||||||||||||||
The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three-month periods ended September 30, 2014 and 2013: | |||||||||||||||||||||||||
Amount Reclassified from | |||||||||||||||||||||||||
Accumulated Other Comprehensive | |||||||||||||||||||||||||
Income (Loss) (a) | |||||||||||||||||||||||||
Details about Accumulated Other Comprehensive | For the three | For the three | Affected Line Item in the | ||||||||||||||||||||||
Income (Loss) Components | months ended | months ended | |||||||||||||||||||||||
September 30, | September 30, | Statement Where Net Income | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
is Presented | |||||||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities | $ | 1 | $ | 80 | Net gain on sale of securities | ||||||||||||||||||||
Tax effect | — | (27 | ) | Income tax expense | |||||||||||||||||||||
1 | 53 | Net of tax | |||||||||||||||||||||||
Amortization of defined benefit pension items | |||||||||||||||||||||||||
Actuarial losses | (89 | ) (b) | (180 | ) (b) | Salaries, wages and benefits | ||||||||||||||||||||
Tax effect | 31 | 61 | Income tax expense | ||||||||||||||||||||||
(58 | ) | (119 | ) | Net of tax | |||||||||||||||||||||
Total reclassifications for the period | $ | (57 | ) | $ | (66 | ) | Net of tax | ||||||||||||||||||
(a) | Amounts in parentheses indicate expenses and other amounts indicate income. | ||||||||||||||||||||||||
(b) | These accumulated other comprehensive (income) loss components are included in the computation of net periodic pension cost. |
Earnings_per_Common_Share
Earnings per Common Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 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 shares using the “if converted” method. | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Basic | |||||||||||||||||
Net income | $ | 2,306 | $ | 1,566 | $ | 7,257 | $ | 5,136 | |||||||||
Preferred stock dividends | 406 | 289 | 1,467 | 869 | |||||||||||||
Net income available to common shareholders - basic | $ | 1,900 | $ | 1,277 | $ | 5,790 | $ | 4,267 | |||||||||
Weighted average common shares outstanding - basic | 7,707,917 | 7,707,917 | 7,707,917 | 7,707,917 | |||||||||||||
Basic earnings per common share | $ | 0.25 | $ | 0.17 | $ | 0.75 | $ | 0.55 | |||||||||
Diluted | |||||||||||||||||
Net income available to common shareholders - basic | $ | 1,900 | $ | 1,277 | $ | 5,790 | $ | 4,267 | |||||||||
Preferred stock dividends on convertible preferred stock | 406 | — | 1,201 | — | |||||||||||||
Net income available to common shareholders - diluted | $ | 2,306 | $ | 1,277 | $ | 6,991 | $ | 4,267 | |||||||||
Weighted average common shares outstanding for earnings per common share basic | 7,707,917 | 7,707,917 | 7,707,917 | 7,707,917 | |||||||||||||
Add: Dilutive effects of convertible preferred shares | 3,196,931 | — | 3,196,931 | — | |||||||||||||
Average shares and dilutive potential common shares outstanding - diluted | 10,904,848 | 7,707,917 | 10,904,848 | 7,707,917 | |||||||||||||
Diluted earnings per common share | $ | 0.21 | $ | 0.17 | $ | 0.64 | $ | 0.55 | |||||||||
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- and nine-month periods ended September 30, 2013 because they were anti-dilutive. There were no stock options outstanding during the three- and nine-month periods ended September 30, 2014. | |||||||||||||||||
For the three- and nine-month periods ended September 30, 2014 there were 3,196,931 dilutive shares related to the Company’s convertible preferred shares. 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. Additionally, the dividends paid on the convertible preferred shares are added back to net income under this method. |
Commitments_Contingencies_and_
Commitments, Contingencies and Off-Balance Sheet Risk | 9 Months Ended | ||||||||||||||||
Sep. 30, 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 September 30, 2014 and December 31, 2013: | |||||||||||||||||
Contract Amount | |||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||
Fixed | Variable | Fixed | Variable | ||||||||||||||
Rate | Rate | Rate | Rate | ||||||||||||||
Commitment to extend credit: | |||||||||||||||||
Lines of credit and construction loans | $ | 9,408 | $ | 169,918 | $ | 11,866 | $ | 151,332 | |||||||||
Overdraft protection | 4 | 19,490 | 18 | 21,084 | |||||||||||||
Letters of credit | 200 | 1,022 | 200 | 2,411 | |||||||||||||
$ | 9,612 | $ | 190,430 | $ | 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 3.05% to 8.75% at September 30, 2014 and 3.05% to 13.75% at 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 $4,922 on September 30, 2014 and $2,959 on December 31, 2013. |
Pension_Information
Pension Information | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Pension Information | ' | ||||||||||||||||
(9) Pension Information | |||||||||||||||||
The Company 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. This curtailment resulted in a reduction to the projected benefit obligation of $4,039. Also, the curtailment resulted in an increase in accumulated other comprehensive income (loss) of $2,666. | |||||||||||||||||
Net periodic pension expense was as follows: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Service cost | $ | 94 | $ | 310 | $ | 264 | $ | 893 | |||||||||
Interest cost | 201 | 228 | 581 | 656 | |||||||||||||
Expected return on plan assets | (312 | ) | (249 | ) | (903 | ) | (716 | ) | |||||||||
Other components | 89 | 180 | 222 | 518 | |||||||||||||
Net periodic pension cost | $ | 72 | $ | 469 | $ | 164 | $ | 1,351 | |||||||||
The total amount of contributions expected to be paid by the Company in 2014 is $1,515, compared to $4,900 in 2013. The 2013 contribution included $3,000 related to settlements of several retirements. |
Stock_Options
Stock Options | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Stock Options | ' | ||||||||
(10) Stock Options | |||||||||
The Company’s 2000 Stock Option and Stock Appreciation Rights Plan (“2000 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 2000 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 2000 Stock Option Plan. Additionally, all options outstanding under the plan expired on April 12, 2013. | |||||||||
At the Company’s annual meeting of shareholders held on April 15, 2014, the shareholders of the Company approved the First Citizens Banc Corp 2014 Incentive Plan (“2014 Incentive Plan” and together with the 2000 Stock Option Plan, the “Plans”). The 2014 Incentive Plan authorizes the Company to grant options, stock awards, stock units and other awards for up to 375,000 common shares of the Company. No options or awards have been granted under the 2014 Incentive Plan. | |||||||||
A summary of the activity in the Plans is as follows: | |||||||||
Nine months ended | |||||||||
September 30, 2013 | |||||||||
Total options | |||||||||
outstanding | |||||||||
Shares | Weighted | ||||||||
Average | |||||||||
Price | |||||||||
Per Share | |||||||||
Outstanding at beginning of year | 10,000 | $ | 35 | ||||||
Granted | — | — | |||||||
Exercised | — | — | |||||||
Forfeited | — | — | |||||||
Expired | (10,000 | ) | (35.00 | ) | |||||
Options outstanding, end of period | — | $ | — | ||||||
Options exercisable, end of period | — | $ | — | ||||||
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 September 30, 2013, there were no options that had intrinsic value. |
Fair_Value_Measurement
Fair Value Measurement | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 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). | |||||||||||||||||||||
The fair value of the swap asset is based on an external derivative valuation model using data inputs as of the valuation date and classified Level 2. | |||||||||||||||||||||
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 September 30, 2014 Using: | |||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets: | |||||||||||||||||||||
Assets measured at fair value on a recurring basis: | |||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. Government agencies | $ | — | $ | 44,739 | $ | — | |||||||||||||||
Obligations of states and political subdivisions | — | 87,253 | — | ||||||||||||||||||
Mortgage-backed securities in government sponsored entities | — | 68,366 | — | ||||||||||||||||||
Equity securities in financial institutions | — | 533 | — | ||||||||||||||||||
Fair value of swap asset | — | 1,078 | — | ||||||||||||||||||
Fair value of swap liability | — | 1,078 | — | ||||||||||||||||||
Assets measured at fair value on a nonrecurring basis: | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 10,863 | |||||||||||||||
Other real estate owned | — | — | 266 | ||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets: | |||||||||||||||||||||
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 | — | ||||||||||||||||||
Fair value of swap asset | — | 286 | — | ||||||||||||||||||
Fair value of swap liability | — | 286 | — | ||||||||||||||||||
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 September 30, 2014. | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
September 30, 2014 | Fair Value | Valuation Technique | Unobservable Input | Range | |||||||||||||||||
Estimate | |||||||||||||||||||||
Impaired loans | $ | 10,863 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 5% - 10% | ||||||||||||||||||||
Holding period | 0 - 30 months | ||||||||||||||||||||
Discounted cash flows | Discount rates | 3.8% - 8.0% | |||||||||||||||||||
Other real estate owned | $ | 266 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 5% - 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. | |||||||||||||||||||||
September 30, 2014 | Carrying | Total | |||||||||||||||||||
Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from financial institutions | $ | 24,128 | $ | 24,128 | $ | 24,128 | $ | — | $ | — | |||||||||||
Securities available for sale | 200,891 | 200,891 | — | 200,891 | — | ||||||||||||||||
Loans, held for sale | 1,399 | 1,399 | 1,399 | — | — | ||||||||||||||||
Loans, net of allowance for loan losses | 871,573 | 884,219 | — | — | 884,219 | ||||||||||||||||
Other securities | 12,554 | 12,554 | 12,554 | — | — | ||||||||||||||||
Bank owned life insurance | 19,518 | 19,518 | 19,518 | — | — | ||||||||||||||||
Accrued interest receivable | 4,523 | 4,523 | 4,523 | — | — | ||||||||||||||||
Fair value swap asset | 1,078 | 1,078 | — | 1,078 | — | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Nonmaturing deposits | 750,590 | 750,590 | 750,590 | — | — | ||||||||||||||||
Time deposits | 230,044 | 231,510 | — | — | 231,510 | ||||||||||||||||
Federal Home Loan Bank advances long term | 17,500 | 17,954 | — | — | 17,954 | ||||||||||||||||
Federal Home Loan Bank advances short term | 8,700 | 8,669 | 8,669 | — | — | ||||||||||||||||
Securities sold under agreement to repurchase | 20,128 | 20,128 | 20,128 | — | — | ||||||||||||||||
Subordinated debentures | 29,427 | 23,635 | — | — | 23,635 | ||||||||||||||||
Accrued interest payable | 134 | 134 | 134 | — | — | ||||||||||||||||
Fair value swap liability | 1,078 | 1,078 | — | 1,078 | — | ||||||||||||||||
December 31, 2013 | Carrying | Total | |||||||||||||||||||
Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from financial institutions | $ | 34,186 | $ | 34,186 | $ | 34,186 | $ | — | $ | — | |||||||||||
Securities available for sale | 199,613 | 199,613 | — | 199,613 | — | ||||||||||||||||
Loans, held for sale | 438 | 438 | 438 | — | — | ||||||||||||||||
Loans, net of allowance for loan losses | 844,713 | 861,252 | — | — | 861,252 | ||||||||||||||||
Other securities | 15,424 | 15,424 | 15,424 | — | — | ||||||||||||||||
Bank owned life insurance | 19,145 | 19,145 | 19,145 | — | — | ||||||||||||||||
Accrued interest receivable | 3,881 | 3,881 | 3,881 | — | — | ||||||||||||||||
Fair value swap asset | 286 | 286 | — | 286 | — | ||||||||||||||||
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 | — | — | ||||||||||||||||
Fair value swap liability | 286 | 286 | — | 286 | — | ||||||||||||||||
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. | |||||||||||||||||||||
The fair values of the fair value swaps used for interest rate risk management represents the amount the Company would have expected to receive or pay to terminate such agreements. |
Preferred_Shares
Preferred Shares | 9 Months Ended |
Sep. 30, 2014 | |
Equity [Abstract] | ' |
Preferred Shares | ' |
(12) Preferred Shares | |
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. | |
Using proceeds from the sale of the depositary shares, the Company redeemed all of the Series A Preferred Shares for an aggregate purchase price of $22,857, which redemption was completed as of February 15, 2014. |
Merger
Merger | 9 Months Ended |
Sep. 30, 2014 | |
Business Combinations [Abstract] | ' |
Merger | ' |
(13) Merger | |
On September 11, 2014, FCBC and TCNB Financial Corp. (“TCNB”) issued a press release announcing the signing of an Agreement and Plan of Merger (the “Merger Agreement”) by and among FCBC, FC Merger Corp. (“Merger Corp.”), a newly-formed Ohio corporation and wholly-owned subsidiary of FCBC, and TCNB pursuant to which FCBC will acquire TCNB and its wholly-owned subsidiary, The Citizens National Bank of Southwestern Ohio (“Citizens National”). | |
Under the terms of the Merger Agreement, FCBC has agreed to pay $23.50 in cash for each of the 733,000 outstanding TCNB common shares. In addition, FCBC has agreed to cash out all of the 3,500 outstanding TCNB stock options for an amount equal to the difference between $23.50 per share and the exercise price of the stock options. The aggregate cash consideration to be paid by FCBC in respect of the outstanding TCNB common shares and the cash-out of outstanding TCNB stock options is approximately $17.2 million. | |
It is anticipated that Citizens National will be merged with and into Citizens, upon completion of the transaction. At that time, Citizens National’s three banking offices located in Dayton, Ohio will become branches of Citizens. As of June 30, 2014, TCNB and Citizens National had total consolidated assets of $105 million, total loans of $75 million and total deposits of $93 million. | |
The merger is anticipated to be completed during the first quarter of 2015, and is subject to the satisfaction of the closing conditions in the Merger Agreement and the approval of the appropriate regulatory authorities and of the shareholders of TCNB. |
Consolidated_Financial_Stateme1
Consolidated Financial Statements (Policies) | 9 Months Ended |
Sep. 30, 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 intercompany 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 September 30, 2014 and its results of operations and changes in cash flows for the periods ended September 30, 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 September 30, 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. Citizens has one concentration to lessors of residential buildings and dwellings totaling $112,690 or 12.7 percent of total loans as of September 30, 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 September 30, 2014. Water St. revenue was less than 1.0% of total revenue through September 30, 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. | |
Derivative Instruments and Hedging Activities | ' |
Derivative Instruments and Hedging Activities: The Company enters into interest rate swap agreements to facilitate the risk management strategies of a small number of commercial banking customers. All derivatives are accounted for in accordance with ASC-815, Derivatives and Hedging. The Company mitigates the risk of entering into these agreements by entering into equal and offsetting swap agreements with highly rated third party financial institutions. The swap agreements are free-standing derivatives and are recorded at fair value in the Company’s consolidated balance sheets. The Company is party to master netting arrangements with its financial institution counterparties; however, the Company does not offset assets and liabilities under these arrangements for financial statement presentation purposes because the Company does not currently intend to execute a setoff with its’ counterparties. The master netting arrangements provide for a single net settlement of all swap agreements, as well as collateral, in the event of default on, or termination of, any one contract. Collateral, usually in the form of marketable securities, is posted by the counterparty with net liability positions in accordance with contract thresholds. | |
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 Joint 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. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (a new revenue recognition standard). The Update’s core principle is that a company will recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, this Update specifies the accounting for certain costs to obtain or fulfill a contract with a customer and expands disclosure requirements for revenue recognition. This Update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. The Company is evaluating the effect of adopting this new accounting Update. | |
In June 2014, the FASB issued ASU 2014-10, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The amendments in this Update change the accounting for repurchase-to-maturity transactions to secured borrowing accounting. For repurchase financing arrangements, the amendments require separate accounting for a transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty, which will result in secured borrowing accounting for the repurchase agreement. The amendments also require enhanced disclosures. The accounting changes in this Update are effective for the first interim or annual period beginning after December 15, 2014. An entity is required to present changes in accounting for transactions outstanding on the effective date as a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption. Earlier application is prohibited. The disclosure for certain transactions accounted for as a sale is required to be presented for interim and annual periods beginning after December 15, 2014, and the disclosure for repurchase agreements, securities lending transactions, and repurchase-to-maturity transactions accounted for as secured borrowings is required to be presented for annual periods beginning after December 15, 2014, and for interim periods beginning after March 15, 2015. The disclosures are not required to be presented for comparative periods before the effective date. This Update is not expected to have a significant impact on the Company’s financial statements. | |
In June 2014, the FASB issued ASU 2014-12, Compensation-Stock Compensation (Topic 718): Accounting for Share-Based Payments when the Terms of an Award Provide that a Performance Target Could Be Achieved After the Requisite Service Period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The amendments in this Update are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the amendments in this Update either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this Update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. Additionally, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations. |
Securities_Tables
Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 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: | |||||||||||||||||||||||||
September 30, 2014 | Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||||||||||
Gains | Losses | ||||||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. government agencies | $ | 44,857 | $ | 104 | $ | (222 | ) | $ | 44,739 | ||||||||||||||||
Obligations of states and political subdivisions | 83,044 | 4,587 | (378 | ) | 87,253 | ||||||||||||||||||||
Mortgage-backed securities in government sponsored entities | 67,687 | 1,033 | (354 | ) | 68,366 | ||||||||||||||||||||
Total debt securities | 195,588 | 5,724 | (954 | ) | 200,358 | ||||||||||||||||||||
Equity securities in financial institutions | 481 | 52 | — | 533 | |||||||||||||||||||||
Total | $ | 196,069 | $ | 5,776 | $ | (954 | ) | $ | 200,891 | ||||||||||||||||
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 September 30, 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 | $ | 135 | $ | 135 | |||||||||||||||||||||
Due after one year through five years | 28,358 | 28,343 | |||||||||||||||||||||||
Due after five years through ten years | 38,590 | 40,032 | |||||||||||||||||||||||
Due after ten years | 60,818 | 63,482 | |||||||||||||||||||||||
Mortgage-backed securities | 67,687 | 68,366 | |||||||||||||||||||||||
Equity securities | 481 | 533 | |||||||||||||||||||||||
Total securities available for sale | $ | 196,069 | $ | 200,891 | |||||||||||||||||||||
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 | Nine months ended | ||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Sale proceeds | $ | — | $ | 927 | $ | 18,088 | $ | 8,686 | |||||||||||||||||
Gross realized gains | — | — | 113 | 144 | |||||||||||||||||||||
Gross realized losses | — | — | — | 89 | |||||||||||||||||||||
Gains from securities called or settled by the issuer | 1 | 80 | 1 | 83 | |||||||||||||||||||||
Securities with Unrealized Losses Not Recognized in Income | ' | ||||||||||||||||||||||||
Securities with unrealized losses at September 30, 2014 and December 31, 2013 not recognized in income, aggregated by investment category and the length of time which the individual securities have been in a loss position, are as follows: | |||||||||||||||||||||||||
September 30, 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 | $ | 10,540 | $ | (18 | ) | $ | 19,198 | $ | (204 | ) | $ | 29,738 | $ | (222 | ) | ||||||||||
Obligations of states and political subdivisions | 1,467 | (3 | ) | 8,644 | (375 | ) | 10,111 | (378 | ) | ||||||||||||||||
Mortgage-backed securities in gov’t sponsored entities | 20,541 | (151 | ) | 14,396 | (203 | ) | 34,937 | (354 | ) | ||||||||||||||||
Total temporarily impaired | $ | 32,548 | $ | (172 | ) | $ | 42,238 | $ | (782 | ) | $ | 74,786 | $ | (954 | ) | ||||||||||
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) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Receivables [Abstract] | ' | ||||||||
Summary of Loan Balances | ' | ||||||||
Loan balances were as follows: | |||||||||
September 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Commercial and agriculture | $ | 106,613 | $ | 115,875 | |||||
Commercial real estate | 445,168 | 443,846 | |||||||
Residential real estate | 265,866 | 250,691 | |||||||
Real estate construction | 55,244 | 39,964 | |||||||
Consumer and other | 14,127 | 10,865 | |||||||
Total loans | 887,018 | 861,241 | |||||||
Allowance for loan losses | (15,445 | ) | (16,528 | ) | |||||
Net loans | $ | 871,573 | $ | 844,713 | |||||
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 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 nine months ended September 30, 2014 and 2013. | |||||||||||||||||||||||||||||
Commercial & | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
For the nine months ended September 30, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 2,841 | $ | 7,559 | $ | 5,224 | $ | 184 | $ | 214 | $ | 506 | $ | 16,528 | |||||||||||||||
Charge-offs | (326 | ) | (1,720 | ) | (1,329 | ) | — | (65 | ) | — | (3,440 | ) | |||||||||||||||||
Recoveries | 238 | 350 | 216 | 5 | 48 | — | 857 | ||||||||||||||||||||||
Provision | (1,148 | ) | 1,655 | 201 | 176 | 18 | 598 | 1,500 | |||||||||||||||||||||
Ending Balance | $ | 1,605 | $ | 7,844 | $ | 4,312 | $ | 365 | $ | 215 | $ | 1,104 | $ | 15,445 | |||||||||||||||
Commercial & | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
For the nine months ended September 30, 2013 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 2,811 | $ | 10,139 | $ | 5,780 | $ | 349 | $ | 246 | $ | 417 | $ | 19,742 | |||||||||||||||
Charge-offs | (301 | ) | (1,266 | ) | (2,579 | ) | (136 | ) | (183 | ) | — | (4,465 | ) | ||||||||||||||||
Recoveries | 123 | 257 | 364 | 107 | 69 | — | 920 | ||||||||||||||||||||||
Provision | 418 | (1,221 | ) | 1,312 | (160 | ) | 27 | 724 | 1,100 | ||||||||||||||||||||
Ending Balance | $ | 3,051 | $ | 7,909 | $ | 4,877 | $ | 160 | $ | 159 | $ | 1,141 | $ | 17,297 | |||||||||||||||
Commercial & | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
For the three months ended September 30, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 2,067 | $ | 7,988 | $ | 4,439 | $ | 287 | $ | 196 | $ | 418 | $ | 15,395 | |||||||||||||||
Charge-offs | (13 | ) | (146 | ) | (275 | ) | — | (22 | ) | — | (456 | ) | |||||||||||||||||
Recoveries | 143 | 251 | 95 | 2 | 15 | — | 506 | ||||||||||||||||||||||
Provision | (592 | ) | (249 | ) | 53 | 76 | 26 | 686 | — | ||||||||||||||||||||
Ending Balance | $ | 1,605 | $ | 7,844 | $ | 4,312 | $ | 365 | $ | 215 | $ | 1,104 | $ | 15,445 | |||||||||||||||
Commercial & | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
For the three months ended September 30, 2013 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Beginning balance | $ | 3,775 | $ | 9,156 | $ | 5,169 | $ | 184 | $ | 149 | $ | 972 | $ | 19,405 | |||||||||||||||
Charge-offs | (210 | ) | (635 | ) | (1,558 | ) | (136 | ) | (61 | ) | — | (2,600 | ) | ||||||||||||||||
Recoveries | 62 | 34 | 63 | 1 | 32 | — | 192 | ||||||||||||||||||||||
Provision | (576 | ) | (646 | ) | 1,203 | 111 | 39 | 169 | 300 | ||||||||||||||||||||
Ending Balance | $ | 3,051 | $ | 7,909 | $ | 4,877 | $ | 160 | $ | 159 | $ | 1,141 | $ | 17,297 | |||||||||||||||
Commercial & | Commercial | Residential | Real Estate | Consumer | Unallocated | Total | |||||||||||||||||||||||
Agriculture | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 655 | $ | 67 | $ | 896 | $ | — | $ | — | $ | — | $ | 1,618 | |||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 950 | $ | 7,777 | $ | 3,416 | $ | 365 | $ | 215 | $ | 1,104 | $ | 13,827 | |||||||||||||||
Ending Balance | $ | 1,605 | $ | 7,844 | $ | 4,312 | $ | 365 | $ | 215 | $ | 1,104 | $ | 15,445 | |||||||||||||||
Loan balances outstanding: | |||||||||||||||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 2,319 | $ | 6,638 | $ | 3,518 | $ | — | $ | 6 | $ | 12,481 | |||||||||||||||||
Ending balance: | |||||||||||||||||||||||||||||
Collectively evaluated for impairment | $ | 104,294 | $ | 438,530 | $ | 262,348 | $ | 55,244 | $ | 14,121 | $ | 874,537 | |||||||||||||||||
Ending Balance | $ | 106,613 | $ | 445,168 | $ | 265,866 | $ | 55,244 | $ | 14,127 | $ | 887,018 | |||||||||||||||||
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 | ' | ||||||||||||||||||||||||||||
Commercial | Commercial | Residential | Real Estate | Consumer | Total | ||||||||||||||||||||||||
& | Real Estate | Real Estate | Construction | and Other | |||||||||||||||||||||||||
Agriculture | |||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||
Pass | $ | 99,513 | $ | 415,368 | $ | 101,124 | $ | 49,587 | $ | 4,706 | $ | 670,298 | |||||||||||||||||
Special Mention | 3,905 | 15,534 | 613 | 20 | — | 20,072 | |||||||||||||||||||||||
Substandard | 3,195 | 14,266 | 8,897 | 43 | 73 | 26,474 | |||||||||||||||||||||||
Doubtful | — | — | 715 | — | — | 715 | |||||||||||||||||||||||
Ending Balance | $ | 106,613 | $ | 445,168 | $ | 111,349 | $ | 49,650 | $ | 4,779 | $ | 717,559 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
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 | and Other | |||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||
Performing | $ | 154,464 | $ | 5,594 | $ | 9,348 | $ | 169,406 | |||||||||||||||||||||
Nonperforming | 53 | — | — | 53 | |||||||||||||||||||||||||
Total | $ | 154,517 | $ | 5,594 | $ | 9,348 | $ | 169,459 | |||||||||||||||||||||
Residential | Real Estate | Consumer | Total | ||||||||||||||||||||||||||
Real Estate | Construction | and Other | |||||||||||||||||||||||||||
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 include an aging analysis of the recorded investment of past due loans outstanding as of September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
September 30, 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 | $ | 4 | $ | — | $ | 208 | $ | 212 | $ | 106,401 | $ | 106,613 | $ | — | |||||||||||||||
Commercial Real Estate | 301 | 68 | 1,258 | 1,627 | 443,541 | 445,168 | — | ||||||||||||||||||||||
Residential Real Estate | 810 | 768 | 4,164 | 5,742 | 260,124 | 265,866 | — | ||||||||||||||||||||||
Real Estate Construction | — | — | 43 | 43 | 55,201 | 55,244 | — | ||||||||||||||||||||||
Consumer and Other | 43 | 46 | 41 | 130 | 13,997 | 14,127 | — | ||||||||||||||||||||||
Total | $ | 1,158 | $ | 882 | $ | 5,714 | $ | 7,754 | $ | 879,264 | $ | 887,018 | $ | — | |||||||||||||||
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 September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
Commercial & Agriculture | $ | 1,148 | $ | 1,590 | |||||||||||||||||||||||||
Commercial Real Estate | 5,993 | 9,609 | |||||||||||||||||||||||||||
Residential Real Estate | 8,571 | 9,210 | |||||||||||||||||||||||||||
Real Estate Construction | 43 | — | |||||||||||||||||||||||||||
Consumer and Other | 75 | 50 | |||||||||||||||||||||||||||
Total | $ | 15,830 | $ | 20,459 | |||||||||||||||||||||||||
Schedule of Troubled Debt Restructurings | ' | ||||||||||||||||||||||||||||
Loan modifications that are considered TDRs completed during the nine-month periods ended September 30, 2014 and September 30, 2013 were as follows: | |||||||||||||||||||||||||||||
For the Nine-Month Period Ended | For the Nine-Month Period Ended | ||||||||||||||||||||||||||||
September 30, 2014 | September 30, 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 | — | — | — | 2 | 547 | 547 | |||||||||||||||||||||||
Residential Real Estate | 5 | 245 | 245 | — | — | — | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | — | — | — | — | — | — | |||||||||||||||||||||||
Total Loan Modifications | 5 | $ | 245 | $ | 245 | 2 | $ | 547 | $ | 547 | |||||||||||||||||||
Loan modifications that are considered TDRs completed during the quarter ended September 30, 2014 and September 30, 2013 were as follows: | |||||||||||||||||||||||||||||
For the Three-Month Period Ended | For the Three-Month Period Ended | ||||||||||||||||||||||||||||
September 30, 2014 | September 30, 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 | 422 | 422 | |||||||||||||||||||||||
Residential Real Estate | 3 | 97 | 97 | — | — | — | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | — | — | — | — | — | — | |||||||||||||||||||||||
Total Loan Modifications | 3 | $ | 97 | $ | 97 | 1 | $ | 422 | $ | 422 | |||||||||||||||||||
Impaired Financing Receivables | ' | ||||||||||||||||||||||||||||
The following table includes the recorded investment and unpaid principal balances for impaired financing receivables with the associated allowance amount, if applicable, as of September 30, 2014 and December 31, 2013. | |||||||||||||||||||||||||||||
September 30, 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 | $ | 1,379 | $ | 1,504 | $ | — | $ | 1,525 | $ | 1,657 | $ | — | |||||||||||||||||
Commercial Real Estate | 5,632 | 6,191 | — | 5,983 | 6,214 | — | |||||||||||||||||||||||
Residential Real Estate | 2,115 | 3,675 | — | 1,202 | 2,263 | — | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | 6 | 6 | — | 8 | 8 | — | |||||||||||||||||||||||
Total | 9,132 | 11,376 | — | 8,718 | 10,142 | — | |||||||||||||||||||||||
With an allowance recorded: | |||||||||||||||||||||||||||||
Commercial & Agriculture | 940 | 1,056 | 655 | 2,344 | 2,437 | 1,262 | |||||||||||||||||||||||
Commercial Real Estate | 1,006 | 1,123 | 67 | 4,192 | 4,496 | 445 | |||||||||||||||||||||||
Residential Real Estate | 1,403 | 3,017 | 896 | 2,803 | 4,021 | 802 | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | — | — | — | — | — | — | |||||||||||||||||||||||
Total | 3,349 | 5,196 | 1,618 | 9,339 | 10,954 | 2,509 | |||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||
Commercial & Agriculture | 2,319 | 2,560 | 655 | 3,869 | 4,094 | 1,262 | |||||||||||||||||||||||
Commercial Real Estate | 6,638 | 7,314 | 67 | 10,175 | 10,710 | 445 | |||||||||||||||||||||||
Residential Real Estate | 3,518 | 6,692 | 896 | 4,005 | 6,284 | 802 | |||||||||||||||||||||||
Real Estate Construction | — | — | — | — | — | — | |||||||||||||||||||||||
Consumer and Other | 6 | 6 | — | 8 | 8 | — | |||||||||||||||||||||||
Total | $ | 12,481 | $ | 16,572 | $ | 1,618 | $ | 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 and nine-month periods ended September 30, 2014 and 2013. | |||||||||||||||||||||||||||||
For the nine months ended: | September 30, 2014 | September 30, 2013 | |||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||
Commercial & Agriculture | $ | 3,570 | $ | 104 | $ | 4,984 | $ | 156 | |||||||||||||||||||||
Commercial Real Estate | 9,227 | 239 | 12,328 | 438 | |||||||||||||||||||||||||
Residential Real Estate | 3,559 | 220 | 5,324 | 287 | |||||||||||||||||||||||||
Real Estate Construction | — | — | 377 | — | |||||||||||||||||||||||||
Consumer and Other | 7 | — | 35 | — | |||||||||||||||||||||||||
Total | $ | 16,363 | $ | 563 | $ | 23,048 | $ | 881 | |||||||||||||||||||||
For the three months ended: | September 30, 2014 | September 30, 2013 | |||||||||||||||||||||||||||
Average | Interest | Average | Interest | ||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||
Commercial & Agriculture | $ | 2,829 | $ | 25 | $ | 4,504 | $ | 25 | |||||||||||||||||||||
Commercial Real Estate | 7,884 | 17 | 11,237 | 29 | |||||||||||||||||||||||||
Residential Real Estate | 3,336 | 74 | 4,773 | 18 | |||||||||||||||||||||||||
Real Estate Construction | — | — | 240 | (11 | ) | ||||||||||||||||||||||||
Consumer and Other | 6 | — | 21 | — | |||||||||||||||||||||||||
Total | $ | 14,055 | $ | 116 | $ | 20,775 | $ | 61 | |||||||||||||||||||||
Other_Comprehensive_Income_Tab
Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Changes in Each Component of Accumulated Other Comprehensive Income (Loss), Net of Tax | ' | ||||||||||||||||||||||||
The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the nine-month periods ended September 30, 2014 and 2013: | |||||||||||||||||||||||||
For the Nine-Month Period Ended | For the Nine-Month Period Ended | ||||||||||||||||||||||||
September 30, 2014 | September 30, 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 income (loss) before reclassifications | 2,916 | 2,666 | 5,582 | (4,734 | ) | — | (4,734 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (75 | ) | 146 | 71 | (91 | ) | 342 | 251 | |||||||||||||||||
Net current-period other comprehensive income (loss) | 2,841 | 2,812 | 5,653 | (4,825 | ) | 342 | (4,483 | ) | |||||||||||||||||
Ending balance | $ | 3,182 | $ | (1,776 | ) | $ | 1,406 | $ | 1,024 | $ | (7,154 | ) | $ | (6,130 | ) | ||||||||||
The following table presents the changes in each component of accumulated other comprehensive income (loss), net of tax, for the three-month periods ended September 30, 2014 and 2013: | |||||||||||||||||||||||||
For the Three-Month Period Ended | For the Three-Month Period Ended | ||||||||||||||||||||||||
September 30, 2014 | September 30, 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 Securities | Sale Securities | ||||||||||||||||||||||||
Beginning balance | $ | 2,777 | $ | (1,834 | ) | $ | 943 | $ | 1,662 | $ | (7,273 | ) | $ | (5,611 | ) | ||||||||||
Other comprehensive income (loss) before reclassifications | 406 | — | 406 | (585 | ) | — | (585 | ) | |||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | (1 | ) | 58 | 57 | (53 | ) | 119 | 66 | |||||||||||||||||
Net current-period other comprehensive income (loss) | 405 | 58 | 463 | (638 | ) | 119 | (519 | ) | |||||||||||||||||
Ending balance | $ | 3,182 | $ | (1,776 | ) | $ | 1,406 | $ | 1,024 | $ | (7,154 | ) | $ | (6,130 | ) | ||||||||||
Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||||||
The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the nine-month periods ended September 30, 2014 and 2013: | |||||||||||||||||||||||||
Amount Reclassified from | |||||||||||||||||||||||||
Accumulated Other Comprehensive | |||||||||||||||||||||||||
Income (Loss) (a) | |||||||||||||||||||||||||
Details about Accumulated Other Comprehensive | For the nine | For the nine | Affected Line Item in the | ||||||||||||||||||||||
Income (Loss) Components | months ended | months ended | |||||||||||||||||||||||
September 30, | September 30, | Statement Where Net Income | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
is Presented | |||||||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities | $ | 114 | $ | 138 | Net gain on sale of securities | ||||||||||||||||||||
Tax effect | (39 | ) | (47 | ) | Income tax expense | ||||||||||||||||||||
75 | 91 | Net of tax | |||||||||||||||||||||||
Amortization of defined benefit pension items | |||||||||||||||||||||||||
Actuarial losses | (222 | ) (b) | (518 | ) (b) | Salaries, wages and benefits | ||||||||||||||||||||
Tax effect | 76 | 176 | Income tax expense | ||||||||||||||||||||||
(146 | ) | (342 | ) | Net of tax | |||||||||||||||||||||
Total reclassifications for the period | $ | (71 | ) | $ | (251 | ) | Net of tax | ||||||||||||||||||
(a) | Amounts in parentheses indicate expenses and other amounts indicate income. | ||||||||||||||||||||||||
(b) | These accumulated other comprehensive income components are included in the computation of net periodic pension cost. | ||||||||||||||||||||||||
The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three-month periods ended September 30, 2014 and 2013: | |||||||||||||||||||||||||
Amount Reclassified from | |||||||||||||||||||||||||
Accumulated Other Comprehensive | |||||||||||||||||||||||||
Income (Loss) (a) | |||||||||||||||||||||||||
Details about Accumulated Other Comprehensive | For the three | For the three | Affected Line Item in the | ||||||||||||||||||||||
Income (Loss) Components | months ended | months ended | |||||||||||||||||||||||
September 30, | September 30, | Statement Where Net Income | |||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
is Presented | |||||||||||||||||||||||||
Unrealized gains and losses on available-for-sale securities | $ | 1 | $ | 80 | Net gain on sale of securities | ||||||||||||||||||||
Tax effect | — | (27 | ) | Income tax expense | |||||||||||||||||||||
1 | 53 | Net of tax | |||||||||||||||||||||||
Amortization of defined benefit pension items | |||||||||||||||||||||||||
Actuarial losses | (89 | ) (b) | (180 | ) (b) | Salaries, wages and benefits | ||||||||||||||||||||
Tax effect | 31 | 61 | Income tax expense | ||||||||||||||||||||||
(58 | ) | (119 | ) | Net of tax | |||||||||||||||||||||
Total reclassifications for the period | $ | (57 | ) | $ | (66 | ) | Net of tax | ||||||||||||||||||
(a) | Amounts in parentheses indicate expenses and other amounts indicate income. | ||||||||||||||||||||||||
(b) | These accumulated other comprehensive (income) loss components are included in the computation of net periodic pension cost. |
Earnings_per_Common_Share_Tabl
Earnings per Common Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 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 shares using the “if converted” method. | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Basic | |||||||||||||||||
Net income | $ | 2,306 | $ | 1,566 | $ | 7,257 | $ | 5,136 | |||||||||
Preferred stock dividends | 406 | 289 | 1,467 | 869 | |||||||||||||
Net income available to common shareholders - basic | $ | 1,900 | $ | 1,277 | $ | 5,790 | $ | 4,267 | |||||||||
Weighted average common shares outstanding - basic | 7,707,917 | 7,707,917 | 7,707,917 | 7,707,917 | |||||||||||||
Basic earnings per common share | $ | 0.25 | $ | 0.17 | $ | 0.75 | $ | 0.55 | |||||||||
Diluted | |||||||||||||||||
Net income available to common shareholders - basic | $ | 1,900 | $ | 1,277 | $ | 5,790 | $ | 4,267 | |||||||||
Preferred stock dividends on convertible preferred stock | 406 | — | 1,201 | — | |||||||||||||
Net income available to common shareholders - diluted | $ | 2,306 | $ | 1,277 | $ | 6,991 | $ | 4,267 | |||||||||
Weighted average common shares outstanding for earnings per common share basic | 7,707,917 | 7,707,917 | 7,707,917 | 7,707,917 | |||||||||||||
Add: Dilutive effects of convertible preferred shares | 3,196,931 | — | 3,196,931 | — | |||||||||||||
Average shares and dilutive potential common shares outstanding - diluted | 10,904,848 | 7,707,917 | 10,904,848 | 7,707,917 | |||||||||||||
Diluted earnings per common share | $ | 0.21 | $ | 0.17 | $ | 0.64 | $ | 0.55 | |||||||||
Commitments_Contingencies_and_1
Commitments, Contingencies and Off-Balance Sheet Risk (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 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 September 30, 2014 and December 31, 2013: | |||||||||||||||||
Contract Amount | |||||||||||||||||
September 30, 2014 | December 31, 2013 | ||||||||||||||||
Fixed | Variable | Fixed | Variable | ||||||||||||||
Rate | Rate | Rate | Rate | ||||||||||||||
Commitment to extend credit: | |||||||||||||||||
Lines of credit and construction loans | $ | 9,408 | $ | 169,918 | $ | 11,866 | $ | 151,332 | |||||||||
Overdraft protection | 4 | 19,490 | 18 | 21,084 | |||||||||||||
Letters of credit | 200 | 1,022 | 200 | 2,411 | |||||||||||||
$ | 9,612 | $ | 190,430 | $ | 12,084 | $ | 174,827 | ||||||||||
Pension_Information_Tables
Pension Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Components of Net Periodic Pension Expense | ' | ||||||||||||||||
Net periodic pension expense was as follows: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Service cost | $ | 94 | $ | 310 | $ | 264 | $ | 893 | |||||||||
Interest cost | 201 | 228 | 581 | 656 | |||||||||||||
Expected return on plan assets | (312 | ) | (249 | ) | (903 | ) | (716 | ) | |||||||||
Other components | 89 | 180 | 222 | 518 | |||||||||||||
Net periodic pension cost | $ | 72 | $ | 469 | $ | 164 | $ | 1,351 | |||||||||
Stock_Options_Tables
Stock Options (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Summary of Activity in Stock Option Plan | ' | ||||||||
A summary of the activity in the Plans is as follows: | |||||||||
Nine months ended | |||||||||
September 30, 2013 | |||||||||
Total options | |||||||||
outstanding | |||||||||
Shares | Weighted | ||||||||
Average | |||||||||
Price | |||||||||
Per Share | |||||||||
Outstanding at beginning of year | 10,000 | $ | 35 | ||||||
Granted | — | — | |||||||
Exercised | — | — | |||||||
Forfeited | — | — | |||||||
Expired | (10,000 | ) | (35.00 | ) | |||||
Options outstanding, end of period | — | $ | — | ||||||
Options exercisable, end of period | — | $ | — | ||||||
Fair_Value_Measurement_Tables
Fair Value Measurement (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Assets Measured at Fair Value | ' | ||||||||||||||||||||
Assets measured at fair value are summarized below. | |||||||||||||||||||||
Fair Value Measurements at September 30, 2014 Using: | |||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets: | |||||||||||||||||||||
Assets measured at fair value on a recurring basis: | |||||||||||||||||||||
U.S. Treasury securities and obligations of U.S. Government agencies | $ | — | $ | 44,739 | $ | — | |||||||||||||||
Obligations of states and political subdivisions | — | 87,253 | — | ||||||||||||||||||
Mortgage-backed securities in government sponsored entities | — | 68,366 | — | ||||||||||||||||||
Equity securities in financial institutions | — | 533 | — | ||||||||||||||||||
Fair value of swap asset | — | 1,078 | — | ||||||||||||||||||
Fair value of swap liability | — | 1,078 | — | ||||||||||||||||||
Assets measured at fair value on a nonrecurring basis: | |||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 10,863 | |||||||||||||||
Other real estate owned | — | — | 266 | ||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||
Assets: | |||||||||||||||||||||
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 | — | ||||||||||||||||||
Fair value of swap asset | — | 286 | — | ||||||||||||||||||
Fair value of swap liability | — | 286 | — | ||||||||||||||||||
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 September 30, 2014. | |||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||
September 30, 2014 | Fair Value | Valuation Technique | Unobservable Input | Range | |||||||||||||||||
Estimate | |||||||||||||||||||||
Impaired loans | $ | 10,863 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 5% - 10% | ||||||||||||||||||||
Holding period | 0 - 30 months | ||||||||||||||||||||
Discounted cash flows | Discount rates | 3.8% - 8.0% | |||||||||||||||||||
Other real estate owned | $ | 266 | Appraisal of collateral | Appraisal adjustments | 10% - 30% | ||||||||||||||||
Liquidation expense | 5% - 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. | |||||||||||||||||||||
September 30, 2014 | Carrying | Total | |||||||||||||||||||
Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from financial institutions | $ | 24,128 | $ | 24,128 | $ | 24,128 | $ | — | $ | — | |||||||||||
Securities available for sale | 200,891 | 200,891 | — | 200,891 | — | ||||||||||||||||
Loans, held for sale | 1,399 | 1,399 | 1,399 | — | — | ||||||||||||||||
Loans, net of allowance for loan losses | 871,573 | 884,219 | — | — | 884,219 | ||||||||||||||||
Other securities | 12,554 | 12,554 | 12,554 | — | — | ||||||||||||||||
Bank owned life insurance | 19,518 | 19,518 | 19,518 | — | — | ||||||||||||||||
Accrued interest receivable | 4,523 | 4,523 | 4,523 | — | — | ||||||||||||||||
Fair value swap asset | 1,078 | 1,078 | — | 1,078 | — | ||||||||||||||||
Financial Liabilities: | |||||||||||||||||||||
Nonmaturing deposits | 750,590 | 750,590 | 750,590 | — | — | ||||||||||||||||
Time deposits | 230,044 | 231,510 | — | — | 231,510 | ||||||||||||||||
Federal Home Loan Bank advances long term | 17,500 | 17,954 | — | — | 17,954 | ||||||||||||||||
Federal Home Loan Bank advances short term | 8,700 | 8,669 | 8,669 | — | — | ||||||||||||||||
Securities sold under agreement to repurchase | 20,128 | 20,128 | 20,128 | — | — | ||||||||||||||||
Subordinated debentures | 29,427 | 23,635 | — | — | 23,635 | ||||||||||||||||
Accrued interest payable | 134 | 134 | 134 | — | — | ||||||||||||||||
Fair value swap liability | 1,078 | 1,078 | — | 1,078 | — | ||||||||||||||||
December 31, 2013 | Carrying | Total | |||||||||||||||||||
Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from financial institutions | $ | 34,186 | $ | 34,186 | $ | 34,186 | $ | — | $ | — | |||||||||||
Securities available for sale | 199,613 | 199,613 | — | 199,613 | — | ||||||||||||||||
Loans, held for sale | 438 | 438 | 438 | — | — | ||||||||||||||||
Loans, net of allowance for loan losses | 844,713 | 861,252 | — | — | 861,252 | ||||||||||||||||
Other securities | 15,424 | 15,424 | 15,424 | — | — | ||||||||||||||||
Bank owned life insurance | 19,145 | 19,145 | 19,145 | — | — | ||||||||||||||||
Accrued interest receivable | 3,881 | 3,881 | 3,881 | — | — | ||||||||||||||||
Fair value swap asset | 286 | 286 | — | 286 | — | ||||||||||||||||
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 | — | — | ||||||||||||||||
Fair value swap liability | 286 | 286 | — | 286 | — |
Consolidated_Financial_Stateme2
Consolidated Financial Statements - Additional Information (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Dwellings | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | ' |
Amount payable to lessors | $112,690 |
Amount payable to lessors in percentage | 12.70% |
Number of concentration by bank to lessors of Residential Buildings and Dwellings | 1 |
Maximum [Member] | ' |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | ' |
Percentage of insurance commission revenue of total revenue | 1.00% |
Water St. [Member] | ' |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | ' |
Number of reportable segment | 1 |
Water St. [Member] | Maximum [Member] | ' |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | ' |
Percentage of insurance commission revenue of total revenue | 1.00% |
Securities_Available_for_Sale_
Securities - Available for Sale Securities (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $196,069 | $199,094 |
Gross Unrealized Gains | 5,776 | 3,549 |
Gross Unrealized Losses | -954 | -3,030 |
Total securities available for sale, Fair Value | 200,891 | 199,613 |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 44,857 | 52,229 |
Gross Unrealized Gains | 104 | 95 |
Gross Unrealized Losses | -222 | -764 |
Total securities available for sale, Fair Value | 44,739 | 51,560 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 83,044 | 79,975 |
Gross Unrealized Gains | 4,587 | 2,327 |
Gross Unrealized Losses | -378 | -1,677 |
Total securities available for sale, Fair Value | 87,253 | 80,625 |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 67,687 | 66,409 |
Gross Unrealized Gains | 1,033 | 1,127 |
Gross Unrealized Losses | -354 | -557 |
Total securities available for sale, Fair Value | 68,366 | 66,979 |
Total Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 195,588 | 198,613 |
Gross Unrealized Gains | 5,724 | 3,549 |
Gross Unrealized Losses | -954 | -2,998 |
Total securities available for sale, Fair Value | 200,358 | 199,164 |
Equity Securities in Financial Institutions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 481 | 481 |
Gross Unrealized Gains | 52 | ' |
Gross Unrealized Losses | ' | -32 |
Total securities available for sale, Fair Value | $533 | $449 |
Securities_Amortized_Cost_and_
Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Due in one year or less, Amortized Cost | $135 | ' |
Due after one year through five years, Amortized Cost | 28,358 | ' |
Due after five years through ten years, Amortized Cost | 38,590 | ' |
Due after ten years, Amortized Cost | 60,818 | ' |
Mortgage-backed securities, Amortized Cost | 67,687 | ' |
Equity securities, Amortized Cost | 481 | ' |
Amortized Cost | 196,069 | 199,094 |
Due in one year or less, Fair Value | 135 | ' |
Due after one year through five years, Fair Value | 28,343 | ' |
Due after five years through ten years, Fair Value | 40,032 | ' |
Due after ten years, Fair Value | 63,482 | ' |
Mortgage-backed securities, Fair Value | 68,366 | ' |
Equity securities, Fair Value | 533 | ' |
Total securities available for sale, Fair Value | $200,891 | $199,613 |
Securities_Proceeds_from_Sales
Securities - Proceeds from Sales of Securities, Gross Realized Gains and Losses (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Amortized Cost and Fair Value Debt Securities [Abstract] | ' | ' | ' | ' |
Sale proceeds | ' | $927 | $18,088 | $8,686 |
Gross realized gains | ' | ' | 113 | 144 |
Gross realized losses | ' | ' | ' | 89 |
Gains from securities called or settled by the issuer | $1 | $80 | $1 | $83 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Security | |
Amortized Cost and Fair Value Debt Securities [Abstract] | ' | ' |
Carrying value of pledged securities | $145,409 | $147,625 |
Number of securities in portfolio with unrealized losses | 56 | ' |
Securities_Securities_with_Unr
Securities - Securities with Unrealized Losses Not Recognized in Income (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 Months or less, Fair Value | $32,548 | $92,234 |
12 Months or less, Unrealized Loss | -172 | -2,905 |
More than 12 months, Fair Value | 42,238 | 1,247 |
More than 12 months, Unrealized Loss | -782 | -125 |
Total Fair Value | 74,786 | 93,481 |
Total Unrealized Loss | -954 | -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 | 10,540 | 30,800 |
12 Months or less, Unrealized Loss | -18 | -764 |
More than 12 months, Fair Value | 19,198 | 0 |
More than 12 months, Unrealized Loss | -204 | 0 |
Total Fair Value | 29,738 | 30,800 |
Total Unrealized Loss | -222 | -764 |
Obligations of States and Political Subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 Months or less, Fair Value | 1,467 | 28,428 |
12 Months or less, Unrealized Loss | -3 | -1,556 |
More than 12 months, Fair Value | 8,644 | 968 |
More than 12 months, Unrealized Loss | -375 | -121 |
Total Fair Value | 10,111 | 29,396 |
Total Unrealized Loss | -378 | -1,677 |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
12 Months or less, Fair Value | 20,541 | 32,557 |
12 Months or less, Unrealized Loss | -151 | -553 |
More than 12 months, Fair Value | 14,396 | 279 |
More than 12 months, Unrealized Loss | -203 | -4 |
Total Fair Value | 34,937 | 32,836 |
Total Unrealized Loss | -354 | -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 | ' | 0 |
More than 12 months, Unrealized Loss | ' | 0 |
Total Fair Value | ' | 449 |
Total Unrealized Loss | ' | ($32) |
Loans_Summary_of_Loan_Balances
Loans - Summary of Loan Balances (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | $887,018 | $861,241 |
Allowance for loan losses | -15,445 | -16,528 |
Net loans | 871,573 | 844,713 |
Commercial and Agriculture [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 106,613 | 115,875 |
Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 445,168 | 443,846 |
Residential Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 265,866 | 250,691 |
Real Estate Construction [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | 55,244 | 39,964 |
Consumer and Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Loans | $14,127 | $10,865 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ' | ' |
Deferred loan fees | $261 | $365 |
Allowance_for_Loan_Losses_Addi
Allowance for Loan Losses - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
SecurityLoan | SecurityLoan | SecurityLoan | SecurityLoan | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Historical loss percentage period for portfolio segments | ' | ' | '2 years | ' | ' |
Allowance for loan losses | $15,445 | ' | $15,445 | ' | $16,528 |
Credit losses, unallocated reserves among total reserves | 7.10% | ' | 7.10% | ' | ' |
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 | ' | ' |
Defaulted loans | 0 | 0 | 0 | 2 | ' |
Loans | ' | ' | ' | 66 | ' |
Impaired loans | ' | ' | 'At or above $350,000 | ' | ' |
Due days for testing impairment | ' | ' | '60 days | ' | ' |
TDRs [Member] | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Allowance for loan losses | $1,618 | ' | $1,618 | ' | ' |
Allowance_for_Loan_Losses_Allo
Allowance for Loan Losses - Allowance Related to Unallocated Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Beginning balance | $15,395 | $19,405 | $16,528 | $19,742 | ' |
Charge-offs | -456 | -2,600 | -3,440 | -4,465 | ' |
Recoveries | 506 | 192 | 857 | 920 | ' |
Provision | ' | 300 | 1,500 | 1,100 | ' |
Ending Balance | 15,445 | 17,297 | 15,445 | 17,297 | ' |
Individually evaluated for impairment | 1,618 | ' | 1,618 | ' | 2,509 |
Collectively evaluated for impairment | 13,827 | ' | 13,827 | ' | 14,019 |
Ending Balance | 15,445 | 17,297 | 15,445 | 17,297 | ' |
Loan balances outstanding: | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 12,481 | ' | 12,481 | ' | 18,057 |
Collectively evaluated for impairment | 874,537 | ' | 874,537 | ' | 843,184 |
Ending Balance | 887,018 | ' | 887,018 | ' | 861,241 |
Commercial and Agriculture [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Beginning balance | 2,067 | 3,775 | 2,841 | 2,811 | ' |
Charge-offs | -13 | -210 | -326 | -301 | ' |
Recoveries | 143 | 62 | 238 | 123 | ' |
Provision | -592 | -576 | -1,148 | 418 | ' |
Ending Balance | 1,605 | 3,051 | 1,605 | 3,051 | ' |
Individually evaluated for impairment | 655 | ' | 655 | ' | 1,262 |
Collectively evaluated for impairment | 950 | ' | 950 | ' | 1,579 |
Ending Balance | 1,605 | 3,051 | 1,605 | 3,051 | ' |
Loan balances outstanding: | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 2,319 | ' | 2,319 | ' | 3,869 |
Collectively evaluated for impairment | 104,294 | ' | 104,294 | ' | 112,006 |
Ending Balance | 106,613 | ' | 106,613 | ' | 115,875 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Beginning balance | 7,988 | 9,156 | 7,559 | 10,139 | ' |
Charge-offs | -146 | -635 | -1,720 | -1,266 | ' |
Recoveries | 251 | 34 | 350 | 257 | ' |
Provision | -249 | -646 | 1,655 | -1,221 | ' |
Ending Balance | 7,844 | 7,909 | 7,844 | 7,909 | ' |
Individually evaluated for impairment | 67 | ' | 67 | ' | 445 |
Collectively evaluated for impairment | 7,777 | ' | 7,777 | ' | 7,114 |
Ending Balance | 7,844 | 7,909 | 7,844 | 7,909 | ' |
Loan balances outstanding: | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 6,638 | ' | 6,638 | ' | 10,175 |
Collectively evaluated for impairment | 438,530 | ' | 438,530 | ' | 433,671 |
Ending Balance | 445,168 | ' | 445,168 | ' | 443,846 |
Residential Real Estate [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Beginning balance | 4,439 | 5,169 | 5,224 | 5,780 | ' |
Charge-offs | -275 | -1,558 | -1,329 | -2,579 | ' |
Recoveries | 95 | 63 | 216 | 364 | ' |
Provision | 53 | 1,203 | 201 | 1,312 | ' |
Ending Balance | 4,312 | 4,877 | 4,312 | 4,877 | ' |
Individually evaluated for impairment | 896 | ' | 896 | ' | 802 |
Collectively evaluated for impairment | 3,416 | ' | 3,416 | ' | 4,422 |
Ending Balance | 4,312 | 4,877 | 4,312 | 4,877 | ' |
Loan balances outstanding: | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 3,518 | ' | 3,518 | ' | 4,005 |
Collectively evaluated for impairment | 262,348 | ' | 262,348 | ' | 246,686 |
Ending Balance | 265,866 | ' | 265,866 | ' | 250,691 |
Real Estate Construction [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Beginning balance | 287 | 184 | 184 | 349 | ' |
Charge-offs | ' | -136 | ' | -136 | ' |
Recoveries | 2 | 1 | 5 | 107 | ' |
Provision | 76 | 111 | 176 | -160 | ' |
Ending Balance | 365 | 160 | 365 | 160 | ' |
Collectively evaluated for impairment | 365 | ' | 365 | ' | 184 |
Ending Balance | 365 | 160 | 365 | 160 | ' |
Loan balances outstanding: | ' | ' | ' | ' | ' |
Collectively evaluated for impairment | 55,244 | ' | 55,244 | ' | 39,964 |
Ending Balance | 55,244 | ' | 55,244 | ' | 39,964 |
Consumer and Other [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Beginning balance | 196 | 149 | 214 | 246 | ' |
Charge-offs | -22 | -61 | -65 | -183 | ' |
Recoveries | 15 | 32 | 48 | 69 | ' |
Provision | 26 | 39 | 18 | 27 | ' |
Ending Balance | 215 | 159 | 215 | 159 | ' |
Collectively evaluated for impairment | 215 | ' | 215 | ' | 214 |
Ending Balance | 215 | 159 | 215 | 159 | ' |
Loan balances outstanding: | ' | ' | ' | ' | ' |
Individually evaluated for impairment | 6 | ' | 6 | ' | 8 |
Collectively evaluated for impairment | 14,121 | ' | 14,121 | ' | 10,857 |
Ending Balance | 14,127 | ' | 14,127 | ' | 10,865 |
Unallocated [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses: | ' | ' | ' | ' | ' |
Beginning balance | 418 | 972 | 506 | 417 | ' |
Provision | 686 | 169 | 598 | 724 | ' |
Ending Balance | 1,104 | 1,141 | 1,104 | 1,141 | ' |
Collectively evaluated for impairment | 1,104 | ' | 1,104 | ' | 506 |
Ending Balance | $1,104 | $1,141 | $1,104 | $1,141 | ' |
Allowance_for_Loan_Losses_Cred
Allowance for Loan Losses - Credit Exposures by Internally Assigned Grades (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | $717,559 | $707,769 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 670,298 | 660,308 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 20,072 | 12,190 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 26,474 | 32,922 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 715 | 2,349 |
Commercial and Agriculture [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 106,613 | 115,875 |
Commercial and Agriculture [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 99,513 | 107,923 |
Commercial and Agriculture [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 3,905 | 2,038 |
Commercial and Agriculture [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 3,195 | 5,914 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 445,168 | 443,846 |
Commercial Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 415,368 | 415,938 |
Commercial Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 15,534 | 9,145 |
Commercial Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 14,266 | 18,763 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 111,349 | 110,210 |
Residential Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 101,124 | 98,700 |
Residential Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 613 | 986 |
Residential Real Estate [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 8,897 | 8,175 |
Residential Real Estate [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 715 | 2,349 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 49,650 | 35,516 |
Real Estate Construction [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 49,587 | 35,495 |
Real Estate Construction [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 20 | 21 |
Real Estate Construction [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 43 | ' |
Consumer and Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 4,779 | 2,322 |
Consumer and Other [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | 4,706 | 2,252 |
Consumer and Other [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans with credit exposures as assigned an internal risk grade | $73 | $70 |
Allowance_for_Loan_Losses_Perf
Allowance for Loan Losses - Performing and Nonperforming Loans (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Performing | $169,406 | $153,472 |
Nonperforming | 53 | 0 |
Total | 169,459 | 153,472 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Performing | 154,464 | 140,481 |
Nonperforming | 53 | 0 |
Total | 154,517 | 140,481 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Performing | 5,594 | 4,448 |
Nonperforming | ' | 0 |
Total | 5,594 | 4,448 |
Consumer and Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Performing | 9,348 | 8,543 |
Nonperforming | ' | 0 |
Total | $9,348 | $8,543 |
Allowance_for_Loan_Losses_Agin
Allowance for Loan Losses - Aging Analysis of Past Due Loans (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | $1,158 | $4,070 |
60-89 Days Past Due | 882 | 1,305 |
90 Days or Greater | 5,714 | 8,072 |
Total Past Due | 7,754 | 13,447 |
Current | 879,264 | 847,794 |
Ending Balance | 887,018 | 861,241 |
Past Due 90 Days and Accruing | 0 | 0 |
Commercial and Agriculture [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 4 | 105 |
60-89 Days Past Due | 0 | 0 |
90 Days or Greater | 208 | 443 |
Total Past Due | 212 | 548 |
Current | 106,401 | 115,327 |
Ending Balance | 106,613 | 115,875 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 301 | 655 |
60-89 Days Past Due | 68 | 201 |
90 Days or Greater | 1,258 | 2,098 |
Total Past Due | 1,627 | 2,954 |
Current | 443,541 | 440,892 |
Ending Balance | 445,168 | 443,846 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 810 | 3,140 |
60-89 Days Past Due | 768 | 1,084 |
90 Days or Greater | 4,164 | 5,531 |
Total Past Due | 5,742 | 9,755 |
Current | 260,124 | 240,936 |
Ending Balance | 265,866 | 250,691 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 0 | 0 |
60-89 Days Past Due | 0 | 0 |
90 Days or Greater | 43 | 0 |
Total Past Due | 43 | 0 |
Current | 55,201 | 39,964 |
Ending Balance | 55,244 | 39,964 |
Consumer and Other [Member] | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
30-59 Days Past Due | 43 | 170 |
60-89 Days Past Due | 46 | 20 |
90 Days or Greater | 41 | ' |
Total Past Due | 130 | 190 |
Current | 13,997 | 10,675 |
Ending Balance | $14,127 | $10,865 |
Allowance_for_Loan_Losses_Summ
Allowance for Loan Losses - Summary of Nonaccrual Loans (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | $15,830 | $20,459 |
Commercial and Agriculture [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | 1,148 | 1,590 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | 5,993 | 9,609 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | 8,571 | 9,210 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | 43 | ' |
Consumer and Other [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Total, Non-Accrual Status | $75 | $50 |
Allowance_for_Loan_Losses_Sche
Allowance for Loan Losses - Schedule of Troubled Debt Restructurings (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Contract | Contract | Contract | Contract | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' | ' |
Number of Contracts | 3 | 1 | 5 | 2 |
Pre-Modification Outstanding Recorded Investment | $97 | $422 | $245 | $547 |
Post-Modification Outstanding Recorded Investment | 97 | 422 | 245 | 547 |
Commercial Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' | ' |
Number of Contracts | ' | 1 | ' | 2 |
Pre-Modification Outstanding Recorded Investment | ' | 422 | ' | 547 |
Post-Modification Outstanding Recorded Investment | ' | 422 | ' | 547 |
Residential Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' | ' |
Number of Contracts | 3 | ' | 5 | ' |
Pre-Modification Outstanding Recorded Investment | 97 | ' | 245 | ' |
Post-Modification Outstanding Recorded Investment | $97 | ' | $245 | ' |
Allowance_for_Loan_Losses_Impa
Allowance for Loan Losses - Impaired Financing Receivables - Recorded Investment and Unpaid Principal Balances (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | $9,132 | $8,718 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 11,376 | 10,142 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 3,349 | 9,339 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 5,196 | 10,954 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 1,618 | 2,509 |
Impaired financing receivables, Recorded Investment, Total | 12,481 | 18,057 |
Impaired financing receivables, Unpaid Principal Balance, Total | 16,572 | 21,096 |
Impaired financing receivables, Related Allowance, Total | 1,618 | 2,509 |
Commercial and Agriculture [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 1,379 | 1,525 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,504 | 1,657 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 940 | 2,344 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 1,056 | 2,437 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 655 | 1,262 |
Impaired financing receivables, Recorded Investment, Total | 2,319 | 3,869 |
Impaired financing receivables, Unpaid Principal Balance, Total | 2,560 | 4,094 |
Impaired financing receivables, Related Allowance, Total | 655 | 1,262 |
Commercial Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 5,632 | 5,983 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 6,191 | 6,214 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 1,006 | 4,192 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 1,123 | 4,496 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 67 | 445 |
Impaired financing receivables, Recorded Investment, Total | 6,638 | 10,175 |
Impaired financing receivables, Unpaid Principal Balance, Total | 7,314 | 10,710 |
Impaired financing receivables, Related Allowance, Total | 67 | 445 |
Residential Real Estate [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 2,115 | 1,202 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 3,675 | 2,263 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 1,403 | 2,803 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 3,017 | 4,021 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 896 | 802 |
Impaired financing receivables, Recorded Investment, Total | 3,518 | 4,005 |
Impaired financing receivables, Unpaid Principal Balance, Total | 6,692 | 6,284 |
Impaired financing receivables, Related Allowance, Total | 896 | 802 |
Real Estate Construction [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 0 | 0 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 0 | 0 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' |
Consumer and Other [Member] | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 6 | 8 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 6 | 8 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | ' | ' |
Impaired financing receivables, Recorded Investment, Total | 6 | 8 |
Impaired financing receivables, Unpaid Principal Balance, Total | $6 | $8 |
Allowance_for_Loan_Losses_Impa1
Allowance for Loan Losses - Impaired Financing Receivables - Average Recorded Investment and Interest Income Recognized (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Impaired financing receivables, Average Recorded Investment, Total | $14,055 | $20,775 | $16,363 | $23,048 |
Impaired financing receivables, Interest Income Recognized, Total | 116 | 61 | 563 | 881 |
Commercial and Agriculture [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Impaired financing receivables, Average Recorded Investment, Total | 2,829 | 4,504 | 3,570 | 4,984 |
Impaired financing receivables, Interest Income Recognized, Total | 25 | 25 | 104 | 156 |
Commercial Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Impaired financing receivables, Average Recorded Investment, Total | 7,884 | 11,237 | 9,227 | 12,328 |
Impaired financing receivables, Interest Income Recognized, Total | 17 | 29 | 239 | 438 |
Residential Real Estate [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Impaired financing receivables, Average Recorded Investment, Total | 3,336 | 4,773 | 3,559 | 5,324 |
Impaired financing receivables, Interest Income Recognized, Total | 74 | 18 | 220 | 287 |
Real Estate Construction [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Impaired financing receivables, Average Recorded Investment, Total | 0 | 240 | 0 | 377 |
Impaired financing receivables, Interest Income Recognized, Total | 0 | -11 | 0 | 0 |
Consumer and Other [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Impaired financing receivables, Average Recorded Investment, Total | 6 | 21 | 7 | 35 |
Impaired financing receivables, Interest Income Recognized, Total | $0 | $0 | $0 | $0 |
Other_Comprehensive_Income_Cha
Other Comprehensive Income - Changes in Each Component of Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning balance | $943 | ($5,611) | ($4,247) | ($1,647) |
Other comprehensive income (loss) before reclassifications | 406 | -585 | 5,582 | -4,734 |
Amounts reclassified from accumulated other comprehensive income (loss) | 57 | 66 | 71 | 251 |
Total other comprehensive income (loss) | 463 | -519 | 5,653 | -4,483 |
Ending balance | 1,406 | -6,130 | 1,406 | -6,130 |
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning balance | 2,777 | 1,662 | 341 | 5,849 |
Other comprehensive income (loss) before reclassifications | 406 | -585 | 2,916 | -4,734 |
Amounts reclassified from accumulated other comprehensive income (loss) | -1 | -53 | -75 | -91 |
Total other comprehensive income (loss) | 405 | -638 | 2,841 | -4,825 |
Ending balance | 3,182 | 1,024 | 3,182 | 1,024 |
Defined Benefit Pension Items [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning balance | -1,834 | -7,273 | -4,588 | -7,496 |
Other comprehensive income (loss) before reclassifications | ' | ' | 2,666 | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 58 | 119 | 146 | 342 |
Total other comprehensive income (loss) | 58 | 119 | 2,812 | 342 |
Ending balance | ($1,776) | ($7,154) | ($1,776) | ($7,154) |
Other_Comprehensive_Income_Amo
Other Comprehensive Income - Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Income tax expense | ($729) | ($383) | ($2,306) | ($1,274) |
Net income available to common shareholders | 1,900 | 1,277 | 5,790 | 4,267 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net income available to common shareholders | -57 | -66 | -71 | -251 |
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 | 1 | 80 | 114 | 138 |
Income tax expense | ' | -27 | -39 | -47 |
Net income available to common shareholders | 1 | 53 | 75 | 91 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Defined Benefit Pension Items [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Actuarial losses | -89 | -180 | -222 | -518 |
Income tax expense | 31 | 61 | 76 | 176 |
Net income available to common shareholders | ($58) | ($119) | ($146) | ($342) |
Earnings_per_Common_Share_Comp
Earnings per Common Share - Computation of Basic and Diluted Earnings per Common Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Basic | ' | ' | ' | ' |
Net income | $2,306 | $1,566 | $7,257 | $5,136 |
Preferred stock dividends | 406 | 289 | 1,467 | 869 |
Net income available to common shareholders - basic | 1,900 | 1,277 | 5,790 | 4,267 |
Weighted average common shares outstanding - basic | 7,707,917 | 7,707,917 | 7,707,917 | 7,707,917 |
Basic earnings per common share | $0.25 | $0.17 | $0.75 | $0.55 |
Diluted | ' | ' | ' | ' |
Net income available to common shareholders - basic | 1,900 | 1,277 | 5,790 | 4,267 |
Preferred stock dividends on convertible preferred stock | 406 | ' | 1,201 | ' |
Net income available to common shareholders - diluted | $2,306 | $1,277 | $6,991 | $4,267 |
Weighted average common shares outstanding for earnings per common share basic | 7,707,917 | 7,707,917 | 7,707,917 | 7,707,917 |
Add: Dilutive effects of convertible preferred shares | 3,196,931 | ' | 3,196,931 | ' |
Average shares and dilutive potential common shares outstanding - diluted | 10,904,848 | 7,707,917 | 10,904,848 | 7,707,917 |
Diluted earnings per common share | $0.21 | $0.17 | $0.64 | $0.55 |
Earnings_per_Common_Share_Addi
Earnings per Common Share - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | |
Stock Options [Member] | 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 | 0 | 10,000 | 10,000 |
Exercise price of stock options not considered in computing diluted earnings per common share | ' | ' | $35 | $35 |
Dilutive shares related to convertible preferred stock | 3,196,931 | 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 $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fixed Rate | $9,612 | $12,084 |
Variable Rate | 190,430 | 174,827 |
Lines of Credit and Construction Loans [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fixed Rate | 9,408 | 11,866 |
Variable Rate | 169,918 | 151,332 |
Overdraft Protection [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fixed Rate | 4 | 18 |
Variable Rate | 19,490 | 21,084 |
Letters of Credit [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Fixed Rate | 200 | 200 |
Variable Rate | $1,022 | $2,411 |
Commitments_Contingencies_and_3
Commitments, Contingencies and Off-Balance-Sheet Risk - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 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 | $4,922 | $2,959 |
Minimum [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Range of fixed interest rate loan commitments | 3.05% | 3.05% |
Maximum [Member] | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Range of fixed interest rate loan commitments | 8.75% | 13.75% |
Pension_Information_Additional
Pension Information - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 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 | ' |
Defined benefit plan, benefit obligation | 4,039,000 | ' |
Accumulated other comprehensive income (loss) | 2,666,000 | ' |
Expected future employer contributions | 1,515,000 | ' |
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 | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' | ' |
Service cost | $94 | $310 | $264 | $893 |
Interest cost | 201 | 228 | 581 | 656 |
Expected return on plan assets | -312 | -249 | -903 | -716 |
Other components | 89 | 180 | 222 | 518 |
Net periodic pension cost | $72 | $469 | $164 | $1,351 |
Stock_Options_Additional_Infor
Stock Options - Additional Information (Detail) | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
2000 Stock Option Plan and Stock Appreciation Plan [Member] | 2000 Stock Option Plan and Stock Appreciation Plan [Member] | 2014 Incentive Plan [Member] | ||
Maximum [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 | ' | 375,000 |
Stock options, expiration period | ' | ' | '10 years | ' |
Stock options, vesting period | ' | '3 years | ' | ' |
Options outstanding under the plan expired | ' | 'April 12, 2013 | ' | ' |
Options granted | 0 | 0 | ' | 0 |
Stock_Options_Summary_of_Activ
Stock Options - Summary of Activity in Stock Option Plan (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Shares, Outstanding at beginning of year | 10,000 |
Shares, Granted | 0 |
Shares, Exercised | 0 |
Shares, Forfeited | 0 |
Shares, Expired | -10,000 |
Shares, Options outstanding, end of period | 0 |
Shares, Options exercisable, end of period | ' |
Weighted Average Exercise Price Per Share, Outstanding at beginning of period | $35 |
Weighted Average Exercise Price Per Share, Granted | $0 |
Weighted Average Exercise Price Per Share, Exercised | $0 |
Weighted Average Exercise Price Per Share, Forfeited | $0 |
Weighted Average Exercise Price Per Share, Expired | ($35) |
Weighted Average Exercise Price Per Share, Options outstanding, end of period | $0 |
Weighted Average Exercise Price, Options exercisable, end of period | $0 |
Fair_Value_Measurement_Assets_
Fair Value Measurement - Assets Measured at Fair Value (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of swap liability | $1,078 | $286 |
Impaired Loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | 10,863 | 15,548 |
Other Real Estate Owned [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Assets | 266 | 173 |
(Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of swap liability | 1,078 | 286 |
(Level 2) [Member] | Assets Measured at Fair Value on a Recurring Basis [Member] | Swap [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of swap asset | 1,078 | 286 |
Fair value of swap liability | 1,078 | 286 |
(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 | 44,739 | 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 | 87,253 | 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 | 68,366 | 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 | 533 | 449 |
(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 | 10,863 | 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 | $266 | $173 |
Fair_Value_Measurement_Quantit
Fair Value Measurement - Quantitative Information about Level 3 Fair Value Measurements (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Impaired Loans [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Estimate | 10,863 | 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 | ' |
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 | ' |
Other Real Estate Owned [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Fair Value Estimate | 266 | 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 | ' |
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 | 5.00% | 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 | 5.00% | 0.00% |
Fair_Value_Measurement_Carryin
Fair Value Measurement - Carrying Amount and Fair Values of Financial Instruments (Detail) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financial Assets: | ' | ' | ' | ' |
Cash and due from financial institutions, Carrying value | $24,128 | $34,186 | $50,093 | $46,131 |
Securities available for sale, Carrying value | 200,891 | 199,613 | ' | ' |
Loans, held for sale, Carrying value | 1,399 | 438 | ' | ' |
Loans, net of allowance for loan losses, Carrying value | 871,573 | 844,713 | ' | ' |
Other securities, Carrying value | 12,554 | 15,424 | ' | ' |
Bank owned life insurance, Carrying value | 19,518 | 19,145 | ' | ' |
Accrued interest receivable, Carrying value | 4,523 | 3,881 | ' | ' |
Fair value swap asset, Carrying value | 1,078 | 286 | ' | ' |
Cash and due from financial institutions, Fair value | 24,128 | 34,186 | ' | ' |
Securities available for sale, Fair value | 200,891 | 199,613 | ' | ' |
Loans, held for sale, Fair value | 1,399 | 438 | ' | ' |
Loans, net of allowance for loan losses, Fair value | 884,219 | 861,252 | ' | ' |
Other securities, Fair value | 12,554 | 15,424 | ' | ' |
Bank owned life insurance, Fair value | 19,518 | 19,145 | ' | ' |
Accrued interest receivable, Fair value | 4,523 | 3,881 | ' | ' |
Fair value swap asset, Fair value | 1,078 | 286 | ' | ' |
Financial Liabilities: | ' | ' | ' | ' |
Nonmaturing deposits, Carrying value | 750,590 | 706,126 | ' | ' |
Time deposits, Carrying value | 230,044 | 236,349 | ' | ' |
Federal Home Loan Bank advances long term, Carrying value | 17,500 | ' | ' | ' |
Federal Home Loan Bank advances, Carrying value | 26,200 | 37,726 | ' | ' |
Federal Home Loan Bank advances short term, Carrying value | 8,700 | ' | ' | ' |
Securities sold under agreement to repurchase, Carrying value | 20,128 | 20,053 | ' | ' |
Subordinated debentures, Carrying value | 29,427 | 29,427 | ' | ' |
Accrued interest payable, Carrying value | 134 | 156 | ' | ' |
Fair value swap liability, Carrying value | 1,078 | 286 | ' | ' |
Nonmaturing deposits, Fair value | 750,590 | 706,126 | ' | ' |
Time deposits, Fair value | 231,510 | 237,837 | ' | ' |
Federal Home Loan Bank advances long term, Fair value | 17,954 | ' | ' | ' |
Federal Home Loan Bank advances, Fair value | ' | 38,767 | ' | ' |
Federal Home Loan Bank advances short term, Fair value | 8,669 | ' | ' | ' |
Securities sold under agreement to repurchase, Fair value | 20,128 | 20,053 | ' | ' |
Subordinated debentures, Fair value | 23,635 | 20,605 | ' | ' |
Accrued interest payable, Fair value | 134 | 156 | ' | ' |
Fair value swap liability, Fair value | 1,078 | 286 | ' | ' |
Financial Assets: | ' | ' | ' | ' |
Cash and due from financial institutions, Carrying value | 24,128 | 34,186 | 50,093 | 46,131 |
Securities available for sale, Carrying value | 200,891 | 199,613 | ' | ' |
Loans, held for sale, Carrying value | 1,399 | 438 | ' | ' |
Loans, net of allowance for loan losses, Carrying value | 871,573 | 844,713 | ' | ' |
Other securities, Carrying value | 12,554 | 15,424 | ' | ' |
Bank owned life insurance, Carrying value | 19,518 | 19,145 | ' | ' |
Accrued interest receivable, Carrying value | 4,523 | 3,881 | ' | ' |
Fair value swap asset, Carrying value | 1,078 | 286 | ' | ' |
Cash and due from financial institutions, Fair value | 24,128 | 34,186 | ' | ' |
Securities available for sale, Fair value | 200,891 | 199,613 | ' | ' |
Loans, held for sale, Fair value | 1,399 | 438 | ' | ' |
Loans, net of allowance for loan losses, Fair value | 884,219 | 861,252 | ' | ' |
Other securities, Fair value | 12,554 | 15,424 | ' | ' |
Bank owned life insurance, Fair value | 19,518 | 19,145 | ' | ' |
Accrued interest receivable, Fair value | 4,523 | 3,881 | ' | ' |
Fair value swap asset, Fair value | 1,078 | 286 | ' | ' |
Financial Liabilities: | ' | ' | ' | ' |
Nonmaturing deposits, Carrying value | 750,590 | 706,126 | ' | ' |
Time deposits, Carrying value | 230,044 | 236,349 | ' | ' |
Federal Home Loan Bank advances long term, Carrying value | 17,500 | ' | ' | ' |
Federal Home Loan Bank advances, Carrying value | 26,200 | 37,726 | ' | ' |
Federal Home Loan Bank advances short term, Carrying value | 8,700 | ' | ' | ' |
Securities sold under agreement to repurchase, Carrying value | 20,128 | 20,053 | ' | ' |
Subordinated debentures, Carrying value | 29,427 | 29,427 | ' | ' |
Accrued interest payable, Carrying value | 134 | 156 | ' | ' |
Fair value swap liability, Carrying value | 1,078 | 286 | ' | ' |
Nonmaturing deposits, Fair value | 750,590 | 706,126 | ' | ' |
Time deposits, Fair value | 231,510 | 237,837 | ' | ' |
Federal Home Loan Bank advances long term, Fair value | 17,954 | ' | ' | ' |
Federal Home Loan Bank advances, Fair value | ' | 38,767 | ' | ' |
Federal Home Loan Bank advances short term, Fair value | 8,669 | ' | ' | ' |
Securities sold under agreement to repurchase, Fair value | 20,128 | 20,053 | ' | ' |
Subordinated debentures, Fair value | 23,635 | 20,605 | ' | ' |
Accrued interest payable, Fair value | 134 | 156 | ' | ' |
Fair value swap liability, Fair value | 1,078 | 286 | ' | ' |
(Level 1) [Member] | ' | ' | ' | ' |
Financial Assets: | ' | ' | ' | ' |
Cash and due from financial institutions, Fair value | 24,128 | 34,186 | ' | ' |
Loans, held for sale, Fair value | 1,399 | 438 | ' | ' |
Other securities, Fair value | 12,554 | 15,424 | ' | ' |
Bank owned life insurance, Fair value | 19,518 | 19,145 | ' | ' |
Accrued interest receivable, Fair value | 4,523 | 3,881 | ' | ' |
Financial Liabilities: | ' | ' | ' | ' |
Nonmaturing deposits, Fair value | 750,590 | 706,126 | ' | ' |
Federal Home Loan Bank advances short term, Fair value | 8,669 | ' | ' | ' |
Securities sold under agreement to repurchase, Fair value | 20,128 | 20,053 | ' | ' |
Accrued interest payable, Fair value | 134 | 156 | ' | ' |
Financial Assets: | ' | ' | ' | ' |
Cash and due from financial institutions, Fair value | 24,128 | 34,186 | ' | ' |
Loans, held for sale, Fair value | 1,399 | 438 | ' | ' |
Other securities, Fair value | 12,554 | 15,424 | ' | ' |
Bank owned life insurance, Fair value | 19,518 | 19,145 | ' | ' |
Accrued interest receivable, Fair value | 4,523 | 3,881 | ' | ' |
Financial Liabilities: | ' | ' | ' | ' |
Nonmaturing deposits, Fair value | 750,590 | 706,126 | ' | ' |
Federal Home Loan Bank advances short term, Fair value | 8,669 | ' | ' | ' |
Securities sold under agreement to repurchase, Fair value | 20,128 | 20,053 | ' | ' |
Accrued interest payable, Fair value | 134 | 156 | ' | ' |
(Level 2) [Member] | ' | ' | ' | ' |
Financial Assets: | ' | ' | ' | ' |
Securities available for sale, Carrying value | 200,891 | 199,613 | ' | ' |
Fair value swap asset, Carrying value | 1,078 | ' | ' | ' |
Securities available for sale, Fair value | 200,891 | 199,613 | ' | ' |
Fair value swap asset, Fair value | 1,078 | ' | ' | ' |
Financial Liabilities: | ' | ' | ' | ' |
Fair value swap liability, Fair value | 1,078 | 286 | ' | ' |
Financial Assets: | ' | ' | ' | ' |
Securities available for sale, Carrying value | 200,891 | 199,613 | ' | ' |
Fair value swap asset, Carrying value | 1,078 | ' | ' | ' |
Securities available for sale, Fair value | 200,891 | 199,613 | ' | ' |
Fair value swap asset, Fair value | 1,078 | ' | ' | ' |
Financial Liabilities: | ' | ' | ' | ' |
Fair value swap liability, Fair value | 1,078 | 286 | ' | ' |
(Level 3) [Member] | ' | ' | ' | ' |
Financial Assets: | ' | ' | ' | ' |
Loans, net of allowance for loan losses, Fair value | 884,219 | 861,252 | ' | ' |
Financial Liabilities: | ' | ' | ' | ' |
Time deposits, Fair value | 231,510 | 237,837 | ' | ' |
Federal Home Loan Bank advances long term, Fair value | 17,954 | ' | ' | ' |
Federal Home Loan Bank advances, Fair value | ' | 38,767 | ' | ' |
Subordinated debentures, Fair value | 23,635 | 20,605 | ' | ' |
Financial Assets: | ' | ' | ' | ' |
Loans, net of allowance for loan losses, Fair value | 884,219 | 861,252 | ' | ' |
Financial Liabilities: | ' | ' | ' | ' |
Time deposits, Fair value | 231,510 | 237,837 | ' | ' |
Federal Home Loan Bank advances long term, Fair value | 17,954 | ' | ' | ' |
Federal Home Loan Bank advances, Fair value | ' | 38,767 | ' | ' |
Subordinated debentures, Fair value | $23,635 | $20,605 | ' | ' |
Preferred_Shares_Additional_In
Preferred Shares - Additional Information (Detail) (USD $) | 0 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Feb. 15, 2014 | Jan. 23, 2009 | Sep. 30, 2014 | Jan. 23, 2009 | Jul. 03, 2012 | Sep. 05, 2012 | Dec. 19, 2013 | Dec. 19, 2013 | Dec. 19, 2013 |
Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Depositary Shares [Member] | Depositary Shares [Member] | Series B Preferred Stock [Member] | |||||
Preferred 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 | ' | ' |
Aggregate purchase price of Preferred stock | $22,857 | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock redemption date | 15-Feb-14 | ' | ' | ' | ' | ' | ' | ' | ' |
Merger_Additional_Information_
Merger - Additional Information (Detail) (USD $) | 9 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Jun. 30, 2014 |
FCBC Financial Corp [Member] | TCNB Financial Corp [Member] | TCNB Financial Corp [Member] | |
Business Combinations [Line Items] | ' | ' | ' |
Amount payable in cash | $23.50 | ' | ' |
Common shares outstanding | ' | 733,000 | ' |
Other common shares agreed to be cashed out | ' | 3,500 | ' |
Aggregate cash consideration to be paid | ' | $17.20 | ' |
Total consolidated assets | ' | ' | 105 |
Total loan | ' | ' | 75 |
Total deposits | ' | ' | $93 |