Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 05, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | civb | |
Entity Registrant Name | CIVISTA BANCSHARES, INC. | |
Entity Central Index Key | 944,745 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 7,843,578 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and due from financial institutions | $ 33,619 | $ 29,858 |
Securities available for sale | 198,655 | 197,905 |
Loans held for sale | 1,223 | 2,410 |
Loans, net of allowance of $14,760 and $14,268 | 985,515 | 900,589 |
Other securities | 13,324 | 12,586 |
Premises and equipment, net | 16,200 | 14,400 |
Accrued interest receivable | 4,880 | 3,852 |
Goodwill | 27,095 | 21,720 |
Other intangibles | 2,588 | 2,025 |
Bank owned life insurance | 19,987 | 19,637 |
Other assets | 10,245 | 8,209 |
Total assets | 1,313,331 | 1,213,191 |
Deposits | ||
Noninterest-bearing | 296,863 | 250,701 |
Interest-bearing | 759,096 | 718,217 |
Total deposits | 1,055,959 | 968,918 |
Federal Home Loan Bank advances | 72,200 | 65,200 |
Securities sold under agreements to repurchase | 20,887 | 21,613 |
Subordinated debentures | 29,427 | 29,427 |
Accrued expenses and other liabilities | 11,521 | 12,124 |
Total liabilities | 1,189,994 | 1,097,282 |
SHAREHOLDERS' EQUITY | ||
Common shares, no par value, 20,000,000 shares authorized, 8,591,542 shares issued at September 30, 2015 and 8,455,881 shares issued at December 31, 2014 | 115,267 | 114,365 |
Accumulated earnings (deficit) | 2,884 | (4,306) |
Treasury shares, 747,964 shares at cost | (17,235) | (17,235) |
Accumulated other comprehensive income (loss) | 148 | (47) |
Total shareholders' equity | 123,337 | 115,909 |
Total liabilities and shareholders' equity | 1,313,331 | 1,213,191 |
Series B Preferred Stock [Member] | ||
SHAREHOLDERS' EQUITY | ||
Preferred shares, no par value, 200,000 shares authorized, Series B Preferred stock, $1,000 liquidation preference, 24,072 shares issued at September 30, 2015 and 25,000 shares issued at December 31, 2014, net of issuance costs | $ 22,273 | $ 23,132 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Allowance for loan losses | $ 14,760 | $ 14,268 |
Preferred shares,no par value | ||
Preferred shares, shares authorized | 200,000 | 200,000 |
Common stock, no par value | ||
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 8,591,542 | 8,455,881 |
Treasury stock, shares | 747,964 | 747,964 |
Series B Preferred Stock [Member] | ||
Preferred shares, liquidation preference | $ 1,000 | $ 1,000 |
Preferred shares, shares issued | 24,072 | 25,000 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest and dividend income | ||||
Loans, including fees | $ 11,755 | $ 10,218 | $ 33,271 | $ 29,850 |
Taxable securities | 810 | 845 | 2,439 | 2,610 |
Tax-exempt securities | 653 | 595 | 1,917 | 1,750 |
Federal funds sold and other | 5 | 9 | 98 | 137 |
Total interest income | 13,223 | 11,667 | 37,725 | 34,347 |
Interest expense | ||||
Deposits | 513 | 552 | 1,588 | 1,740 |
Federal Home Loan Bank advances | 111 | 236 | 326 | 887 |
Subordinated debentures | 192 | 190 | 565 | 590 |
Other | 5 | 5 | 15 | 15 |
Total interest expense | 821 | 983 | 2,494 | 3,232 |
Net interest income | 12,402 | 10,684 | 35,231 | 31,115 |
Provision for loan losses | 400 | 1,200 | 1,500 | |
Net interest income after provision for loan losses | 12,002 | 10,684 | 34,031 | 29,615 |
Noninterest income | ||||
Service charges | 1,262 | 1,110 | 3,487 | 3,184 |
Net gain (loss) on sale of securities | (5) | 1 | (5) | 114 |
Net gain on sale of loans | 269 | 239 | 888 | 470 |
ATM fees | 520 | 481 | 1,484 | 1,388 |
Trust fees | 659 | 822 | 2,159 | 2,396 |
Bank owned life insurance | 116 | 118 | 350 | 373 |
Tax refund processing fees | 6 | 2,000 | 2,321 | |
Other | 255 | 235 | 769 | 770 |
Total noninterest income | 3,076 | 3,012 | 11,132 | 11,016 |
Noninterest expense | ||||
Salaries, wages and benefits | 6,025 | 5,654 | 17,732 | 16,661 |
Net occupancy expense | 595 | 510 | 1,833 | 1,771 |
Equipment expense | 303 | 320 | 1,030 | 1,023 |
Contracted data processing | 399 | 369 | 1,392 | 1,080 |
FDIC assessment | 192 | 212 | 654 | 700 |
State franchise tax | 205 | 240 | 661 | 680 |
Professional services | 597 | 538 | 1,716 | 1,332 |
Amortization of intangible assets | 189 | 201 | 522 | 604 |
ATM expense | 119 | 203 | 563 | 606 |
Marketing | 298 | 434 | 842 | 1,227 |
Other operating expenses | 1,744 | 1,980 | 5,258 | 5,384 |
Total noninterest expense | 10,666 | 10,661 | 32,203 | 31,068 |
Income before taxes | 4,412 | 3,035 | 12,960 | 9,563 |
Income tax expense | 1,159 | 729 | 3,414 | 2,306 |
Net Income | 3,253 | 2,306 | 9,546 | 7,257 |
Preferred stock dividends and discount accretion | 391 | 406 | 1,186 | 1,467 |
Net income available to common shareholders | $ 2,862 | $ 1,900 | $ 8,360 | $ 5,790 |
Earnings per common share, basic | $ 0.36 | $ 0.25 | $ 1.07 | $ 0.75 |
Earnings per common share, diluted | $ 0.30 | $ 0.21 | $ 0.87 | $ 0.64 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 3,253 | $ 2,306 | $ 9,546 | $ 7,257 |
Other comprehensive income: | ||||
Unrealized holding gains on available for sale securities | 1,183 | 615 | 87 | 4,303 |
Tax effect | (403) | (210) | (30) | (1,462) |
Pension liability adjustment | 70 | 89 | 210 | 4,260 |
Tax effect | (24) | (31) | (72) | (1,448) |
Total other comprehensive income | 826 | 463 | 195 | 5,653 |
Comprehensive income | $ 4,079 | $ 2,769 | $ 9,741 | $ 12,910 |
Condensed Consolidated Statemen
Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands | Total | Preferred Shares [Member] | Common Shares [Member] | Accumulated Earnings (Deficit) [Member] | Treasury Shares [Member] | Accumulated Other Comprehensive Loss [Member] |
Balance at Dec. 31, 2014 | $ 115,909 | $ 23,132 | $ 114,365 | $ (4,306) | $ (17,235) | $ (47) |
Balance, shares at Dec. 31, 2014 | 25,000 | 7,707,917 | ||||
Net income | 9,546 | 9,546 | ||||
Other comprehensive loss | 195 | 195 | ||||
Conversion of Series B preferred shares to common shares, shares | (928) | 118,678 | ||||
Conversion of Series B preferred shares to common shares | $ (859) | $ 859 | ||||
Stock-based compensation | 43 | $ 43 | ||||
Stock-based compensation, shares | 16,983 | |||||
Common stock dividends ($.15 per share) | (1,170) | (1,170) | ||||
Preferred stock dividend | (1,186) | (1,186) | ||||
Balance at Sep. 30, 2015 | $ 123,337 | $ 22,273 | $ 115,267 | $ 2,884 | $ (17,235) | $ 148 |
Balance, shares at Sep. 30, 2015 | 24,072 | 7,843,578 |
Condensed Consolidated Stateme7
Condensed Consolidated Statement of Shareholders' Equity (Unaudited) (Parenthetical) | 9 Months Ended |
Sep. 30, 2015$ / shares | |
Common stock dividends per share | $ 0.15 |
Accumulated Earnings (Deficit) [Member] | |
Common stock dividends per share | $ 0.15 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Cash Flows [Abstract] | ||
Net cash from operating activities | $ 14,375 | $ 11,043 |
Cash flows used for investing activities: | ||
Maturities and calls of securities, available-for-sale | 20,538 | 38,343 |
Purchases of securities, available-for-sale | (22,250) | (54,425) |
Sale of securities available for sale | 18,088 | |
Redemption of Federal Reserve stock | 138 | 11 |
Redemption of Federal Home Loan Bank stock | 2,999 | |
Purchase of Federal Reserve stock | (160) | (140) |
Net loan originations | (9,426) | (25,406) |
Purchase of consumer loans | (3,826) | (3,120) |
Proceeds from sale of other real estate owned properties | 289 | 191 |
Cash acquired in acquisition, net of purchase price | 926 | |
Proceeds from sale of premises and equipment | 1,310 | |
Purchases of premises and equipment | (933) | (257) |
Net cash used for investing activities | (14,704) | (22,406) |
Cash flows from financing activities: | ||
Repayment of long-term FHLB advances | (5,000) | (30,226) |
Net change in short-term FHLB advances | 12,000 | |
Proceeds from short-term FHLB advances | 8,700 | |
Proceeds from long-term FHLB advances | 10,000 | |
Increase in deposits | 172 | 38,159 |
Increase (decrease) in securities sold under repurchase agreements | (726) | 75 |
Repayment of series A preferred stock | (22,857) | |
Common dividends paid | (1,170) | (1,079) |
Preferred dividends paid | (1,186) | (1,467) |
Net cash provided by financing activities | 4,090 | 1,305 |
Increase (decrease) in cash and due from financial institutions | 3,761 | (10,058) |
Cash and due from financial institutions at beginning of period | 29,858 | 34,186 |
Cash and due from financial institutions at end of period | 33,619 | 24,128 |
Cash paid during the period for: | ||
Interest | 2,468 | 3,254 |
Income taxes | 2,250 | 950 |
Supplemental cash flow information: | ||
Transfer of loans from portfolio to other real estate owned | 174 | $ 261 |
Noncash assets acquired: | ||
Loans receivable | 76,444 | |
Other securities | 716 | |
Accrued interest receivable | 194 | |
Premises and equipment, net | 1,738 | |
Core deposit intangible | 1,009 | |
Other assets | 472 | |
Total non cash assets acquired | 80,573 | |
Liabilities assumed: | ||
Deposits | 86,869 | |
Other liabilities | 5 | |
Total liabilities assumed | 86,874 | |
Net noncash liabilities acquired | $ 6,301 |
Consolidated Financial Statemen
Consolidated Financial Statements | 9 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidated Financial Statements | (1) Consolidated Financial Statements Nature of Operations and Principles of 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, 2015 and its results of operations and changes in cash flows for the periods ended September 30, 2015 and 2014 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, 2015 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 2014 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, Richland, Montgomery and Cuyahoga. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial, and installment loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets and commercial and Residential Real Estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. The bank has two concentrations, one to Lessors of Non-Residential Buildings and Dwellings totaling $215,807, or 21.7 percent of total loans, as of September 30, 2015 and the other to Lessors of Residential Buildings and Dwellings totaling $134,752, or 13.6 percent of total loans, as of September 30, 2015. These segments of the portfolio are stable and have been conservatively underwritten, monitored and managed by experienced commercial bankers. However, the customers’ ability to repay their loans is dependent on the real estate market 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 that are in excess of federally insured limits. 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, 2015. Revenue from Water St. was less than 1.0% of total revenue through September 30, 2015. Management considers the Company to operate primarily in one reportable segment, banking. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | (2) Significant Accounting Policies Use of Estimates Income Taxes Business Combinations: Reclassifications: Derivative Instruments and Hedging Activities Derivatives and Hedging Effect of Newly Issued but Not Yet Effective Accounting Standards: In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers 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 In November 2014, the FASB issued ASU 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity (a consensus of the FASB Emerging Issues Task Force). In November 2014, the FASB issued ASU 2014-17, Business Combinations (Topic 805): Pushdown Accounting. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) In April 2015, the FASB issued ASU 2015-04, Compensation-Retirement Benefits (Topic 715), In May 2015, the FASB issued ASU 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) In May 2015, the FASB issued ASU 2015-08 , Business Combinations – Pushdown Accounting – Amendment to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 In August 2015, the FASB issued ASU 2015-14, Revenue from Contract with Customers In August 2015, the FASB issued ASU 2015-15, Interest-Imputation of Interest (Subtopic 835-30) Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805). |
Merger
Merger | 9 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Merger | (3) Merger On March 6, 2015, CBI completed the acquisition by merger of TCNB Financial Corp. (“TCNB”) in an all-cash transaction for aggregate consideration of $17,226, or $23.50 per share of TCNB stock. The Company and TCNB had first announced that they had entered into an agreement to merge in September of 2014. Immediately following the merger, TCNB’s banking subsidiary, The Citizens National Bank of Southwestern Ohio, was merged into CBI’s banking subsidiary, Civista Bank. At the time of the merger, TCNB had total assets of $97,479, including $76,771 in loans, and $86,708 in deposits. The transaction was recorded as a purchase and, accordingly, the operating results of TCNB have been included in the Company’s Consolidated Financial Statements since the close of business on March 6, 2015. The aggregate of the purchase price over the fair value of the net assets acquired of approximately $5,375 was recorded as goodwill and will be evaluated for impairment on an annual basis. The following table presents financial information for the former TCNB included in the Consolidated Statements of Income from the date of acquisition through September 30, 2015 and for the three-month period ended September 30, 2015. Actual From For the Three-Month Net interest income after provision for loan losses $ 2,291 $ 987 Noninterest income 71 — Net income 859 396 The following table presents pro forma information for the nine and three-month periods ended September 30, 2015 and 2014 as if the acquisition of TCNB had occurred on January 1, 2014. This table has been prepared for comparative purposes only and is not indicative of the actual results that would have been attained had the acquisition occurred as of the beginning of the periods presented, nor is it indicative of future results. Pro Formas Pro Formas Nine months ended Three months ended 2015 2014 2015 2014 Net interest income after provision for loan losses $ 36,951 $ 32,799 $ 12,974 $ 30,677 Noninterest income 11,624 11,376 3,076 3,093 Net income 9,645 7,820 3,599 2,418 Pro forma earnings per share: Basic $ 1.13 $ 0.88 $ 0.41 $ 0.26 Diluted $ 0.88 $ 0.69 $ 0.33 $ 0.22 The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for TCNB. Core deposit intangibles will be amortized over periods of between five and ten years using an accelerated method. Goodwill will not be amortized, but instead will be evaluated for impairment. At March 6, 2015 Total purchase price $ 17,226 Net assets acquired: Cash and short-term investments 18,152 Loans, net 76,444 Other securities 716 Premises and equipment 1,738 Accrued interest receivable 194 Core deposit intangible 1,009 Other assets 472 Noninterest-bearing deposits (18,263 ) Interest-bearing deposits (68,606 ) Other liabilities (5 ) 11,851 Goodwill $ 5,375 The acquired assets and liabilities were measured at estimated fair values. Management made certain estimates and exercised judgment in accounting for the acquisition. The following is a description of the methods used to determine fair value of significant assets and liabilities at the acquisition date: Cash and short-term investments: Loans: Deposits: This acquisition provided the Company with the strategic opportunity to expand into new markets that, while similar to existing markets, are projected to be more vibrant in population growth and business opportunity growth. Additionally, the acquisition will provide exposure to suburbs of larger urban areas without the commitment of operating inside large metropolitan areas dominated by regional and national financial organizations. The acquisition also creates synergies on the operational side of the Company by allowing noninterest expenses to be spread over a larger operating base. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | (4) 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, 2015 Amortized Gross Gross Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 39,271 $ 234 $ (13 ) $ 39,492 Obligations of states and political subdivisions 87,971 4,551 (143 ) 92,379 Mortgage-backed securities in government sponsored entities 65,192 1,079 (74 ) 66,197 Total debt securities 192,434 5,864 (230 ) 198,068 Equity securities in financial institutions 481 106 — 587 Total $ 192,915 $ 5,970 $ (230 ) $ 198,655 December 31, 2014 Amortized Gross Gross Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 42,910 $ 115 $ (123 ) $ 42,902 Obligations of states and political subdivisions 83,215 5,112 (306 ) 88,021 Mortgage-backed securities in government sponsored entities 65,646 976 (180 ) 66,442 Total debt securities 191,771 6,203 (609 ) 197,365 Equity securities in financial institutions 481 59 — 540 Total $ 192,252 $ 6,262 $ (609 ) $ 197,905 The amortized cost and fair value of securities at September 30, 2015, 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 $ 4,716 $ 4,731 Due after one year through five years 26,519 26,734 Due after five years through ten years 30,616 32,110 Due after ten years 65,391 68,296 Mortgage-backed securities 65,192 66,197 Equity securities 481 587 Total securities available for sale $ 192,915 $ 198,655 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, 2015 2014 2015 2014 Sale proceeds $ — $ — $ — $ 18,088 Gross realized gains — — — 113 Gross realized losses — — — — Gains (losses) from securities called or settled by the issuer (5 ) 1 (5 ) 1 Securities were pledged to secure public deposits, other deposits and liabilities as required by law. The carrying value of pledged securities was approximately $148,557 and $137,898 as of September 30, 2015 and December 31, 2014, respectively. Securities with unrealized losses at September 30, 2015 and December 31, 2014 not recognized in income are as follows: September 30, 2015 12 Months or less More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Loss Value Loss Value Loss U.S. Treasury securities and obligations of U.S. government agencies $ 2,037 $ — $ 1,192 $ (13 ) $ 3,229 $ (13 ) Obligations of states and political subdivisions 7,866 (93 ) 1,466 (50 ) 9,332 (143 ) Mortgage-backed securities in gov’t sponsored entities 6,156 (37 ) 7,649 (37 ) 13,805 (74 ) Total temporarily impaired $ 16,059 $ (130 ) $ 10,307 $ (100 ) $ 26,366 $ (230 ) December 31, 2014 12 Months or less More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Loss Value Loss Value Loss U.S. Treasury securities and obligations of U.S. government agencies $ 7,664 $ (17 ) $ 11,888 $ (106 ) $ 19,552 $ (123 ) Obligations of states and political subdivisions 853 (11 ) 5,647 (295 ) 6,500 (306 ) Mortgage-backed securities in gov’t sponsored entities 12,289 (29 ) 11,492 (151 ) 23,781 (180 ) Total temporarily impaired $ 20,806 $ (57 ) $ 29,027 $ (552 ) $ 49,833 $ (609 ) At September 30, 2015, there were thirty 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, 2015 | |
Receivables [Abstract] | |
Loans | (5) Loans Loan balances were as follows: September 30, December 31, 2015 2014 Commercial and agriculture $ 129,119 $ 114,186 Commercial real estate- owner occupied 160,457 143,014 Commercial real estate- non-owner occupied 340,702 308,666 Residential real estate 284,899 268,510 Real estate construction 67,461 65,452 Consumer and other 17,637 15,029 Total loans 1,000,275 914,857 Allowance for loan losses (14,760 ) (14,268 ) Net loans $ 985,515 $ 900,589 Included in total loans above are deferred loan fees of $63 at September 30, 2015 and $237 at December 31, 2014. Included in the totals above are loans acquired from TCNB at the acquisition date, net of fair value adjustments, of: March 6, 2015 Commercial and agriculture $ 13,799 Commercial real estate- owner occupied 23,029 Commercial real estate- non-owner occupied 13,808 Residential real estate 17,541 Real estate construction 3,863 Consumer and other 4,404 Net loans $ 76,444 |
Allowance for Loan Losses
Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2015 | |
Text Block [Abstract] | |
Allowance for Loan Losses | (6) 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 and lease losses, the Company has segmented certain loans in the portfolio by product type. Loss migration rates for each risk category are and calculated and used as the basis for calculating loan loss allowance allocations. Loss migration rates are calculated over a three-year period for all portfolio segments, except for the segment consisting of purchased automobile loans which is calculated over a two-year period. The use of a three-year period for loss migration analysis is a change in methodology for this period. Previously, a two-year loss migration analysis had been used for the entire portfolio. With continued improvement and stability in economic conditions, regulatory guidance recommends a longer look-back period. In addition, Civista made significant changes to consumer and commercial lending policies in the first quarter of 2012. Combined, the stable economy and now seasoned policy changes indicate a three year period is more reflective of future expectations. Management also considers certain economic factors for trends that management uses to account for the qualitative and environmental changes in risk, which affects the level 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 Civista’s 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 $14,760 adequate to cover loan losses inherent in the loan portfolio, at September 30, 2015. The following tables present, by portfolio segment, the changes in the allowance for loan losses for the three and nine months ended September 30, 2015 and 2014. Commercial & Commercial Commercial Residential Real Estate Consumer Unallocated Total For the nine months ended September 30, 2015 Allowance for loan losses: Beginning balance $ 1,822 $ 2,580 $ 4,798 $ 3,747 $ 428 $ 196 $ 697 $ 14,268 Charge-offs (187 ) (363 ) (81 ) (779 ) — (114 ) — (1,524 ) Recoveries 157 223 105 289 4 38 — 816 Provision (405 ) 506 512 964 (4 ) 245 (618 ) 1,200 Ending Balance $ 1,387 $ 2,946 $ 5,334 $ 4,221 $ 428 $ 365 $ 79 $ 14,760 For the nine months ended September 30, 2015, the allowance for Commercial and Agriculture loans was reduced due to decreases in specific reserves for impaired loans of $625. The decrease in specific reserves for impaired loans was the result of the resolution of an impaired loan. The Company did not incur losses with this resolution. In addition, criticized commercial & agriculture loan balances have decreased. The result was represented as a decrease in the provision. The increase in the allowance for Commercial Real Estate—Owner Occupied loans was the result of an increase in loss migration rates, which is attributable to the change in the lookback period to a three-year period. The increase in the allowance for Commercial Real Estate – Non–Owner Occupied loans was the result of an increase in loss migration rates, which is attributable to the change in the lookback period to a three-year period. The ending reserve balance for Residential Real Estate loans increased from the end of the previous year due to an increase in loss migration rates, which is attributable to the change in the look-back period to a three-year period. The increase in the allowance for Consumer and other loans increased due to an increase in loss migration rates. Unallocated reserves declined due to a change in the Company’s look-back period. The Company changed from a two-year look-back period to a three-year look-back period when calculating all but one segment’s loss migration rates during the third quarter of 2015. The change in methodology is reflected in a decline in the unallocated balance with corresponding increase in allocated balances within the reserve calculation. While loan balances are up, loss rates continue to trend downward, exclusive of the change in methodology, resulting in a lower allowance balance. While criticized loans in total have increased slightly, we have seen significant improvement in nonperforming loan balances resulting in a decline in specific reserves for impaired loans. Management feels that the unallocated amount is appropriate and within the relevant range for the allowance that is reflective of the risk in the portfolio. Commercial & Commercial Commercial Residential Real Estate Consumer Unallocated Total For the nine months ended September 30, 2014 Allowance for loan losses: Beginning balance $ 2,841 $ 3,263 $ 4,296 $ 5,224 $ 184 $ 214 $ 506 $ 16,528 Charge-offs (326 ) (1,615 ) (105 ) (1,329 ) — (65 ) — (3,440 ) Recoveries 238 316 34 216 5 48 — 857 Provision (1,148 ) 902 753 201 176 18 598 1,500 Ending Balance $ 1,605 $ 2,866 $ 4,978 $ 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 Commercial Residential Real Estate Consumer Unallocated Total For the three months ended September 30, 2015 Allowance for loan losses: Beginning balance $ 1,395 $ 3,383 $ 5,427 $ 3,470 $ 434 $ 190 $ 408 $ 14,707 Charge-offs (187 ) (164 ) (18 ) (237 ) — (28 ) — (634 ) Recoveries 127 13 14 124 1 8 — 287 Provision 52 (286 ) (89 ) 864 (7 ) 195 (329 ) 400 Ending Balance $ 1,387 $ 2,946 $ 5,334 $ 4,221 $ 428 $ 365 $ 79 $ 14,760 For the three months ended September 30, 2015, the decrease in the allowance for Commercial Real Estate – Owner Occupied was the result of a significant change in the Special Mention loss migration rate that had been adversely effected by a specific loss on one relationship that occurred in 2014. The effect of this loss as of this quarter end migrated to the Substandard pool and has less of an impact to the reserve. The ending reserve balance for Residential Real Estate loans increased due an increase in criticized loan balances and an increase in loss migration rates. The increase in the allowance for Consumer and other loans increased due to an increase in loss rates. Unallocated reserves declined due to a change in the Company’s lookback period. The Company changed from a two-year lookback period to a three-year lookback period when calculating all but one segment’s loss migration rates during the third quarter of 2015. The change in methodology is reflected in a decline in the unallocated balance with corresponding increase in allocated balances within the reserve calculation. While loan balances are up, loss rates continue to trend downward, exclusive of the change in methodology, resulting in a lower allowance balance. While criticized loans have increased slightly, we have seen significant improvement in nonperforming loan balances resulting in a decline in specific reserves for impaired loans. Management feels that the unallocated amount is appropriate and within the relevant range for the allowance that is reflective of the risk in the portfolio. Commercial & Commercial Commercial Residential Real Estate Consumer Unallocated Total For the three months ended September 30, 2014 Allowance for loan losses: Beginning balance $ 2,067 $ 3,135 $ 4,853 $ 4,439 $ 287 $ 196 $ 418 $ 15,395 Charge-offs (13 ) (146 ) — (275 ) — (22 ) — (456 ) Recoveries 143 241 10 95 2 15 — 506 Provision (592 ) (364 ) 115 53 76 26 686 — Ending Balance $ 1,605 $ 2,866 $ 4,978 $ 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. The following tables present, by portfolio segment, the allocation of the allowance for loan losses and related loan balances as of September 30, 2015 and December 31, 2014. Commercial & Commercial Commercial Residential Real Estate Consumer Unallocated Total September 30, 2015 Allowance for loan losses: Loans acquired with credit deterioration $ — $ — $ — $ 131 $ — $ — $ — $ 131 Ending balance: Individually evaluated for impairment $ 16 $ 4 $ — $ 164 $ — $ — $ — $ 184 Ending balance: Collectively evaluated for impairment $ 1,371 $ 2,942 $ 5,334 $ 3,926 $ 428 $ 365 $ 79 $ 14,445 Ending balance $ 1,387 $ 2,946 $ 5,334 $ 4,221 $ 428 $ 365 $ 79 $ 14,760 Loan balances outstanding: Loans acquired with credit deterioration $ 16 $ 30 $ — $ 381 $ — $ — $ 427 Ending balance: Individually evaluated for impairment $ 894 $ 2,626 $ 1,828 $ 1,746 $ — $ 4 $ 7,098 Ending balance: Collectively evaluated for impairment $ 128,209 $ 157,801 $ 338,874 $ 282,772 $ 67,461 $ 17,633 $ 992,750 Ending balance $ 129,119 $ 160,457 $ 340,702 $ 284,899 $ 67,461 $ 17,637 $ 1,000,275 Commercial & Commercial Commercial Residential Real Estate Consumer Unallocated Total December 31, 2014 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 641 $ 57 $ 20 $ 305 $ — $ — $ — $ 1,023 Ending balance: Collectively evaluated for impairment $ 1,181 $ 2,523 $ 4,778 $ 3,442 $ 428 $ 196 $ 697 $ 13,245 Ending balance $ 1,822 $ 2,580 $ 4,798 $ 3,747 $ 428 $ 196 $ 697 $ 14,268 Loan balances outstanding: Ending balance: Individually evaluated for impairment $ 2,304 $ 3,557 $ 2,175 $ 3,108 $ — $ 5 $ 11,149 Ending balance: Collectively evaluated for impairment $ 111,882 $ 139,457 $ 306,491 $ 265,402 $ 65,452 $ 15,024 $ 903,708 Ending balance $ 114,186 $ 143,014 $ 308,666 $ 268,510 $ 65,452 $ 15,029 $ 914,857 The following tables present credit exposures by internally assigned grades for the periods ended September 30, 2015 and December 31, 2014. 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 • Special Mention • Substandard • Doubtful • Loss Generally, Residential Real Estate, Real Estate Construction and Consumer loans are not risk-graded, except when collateral is used for a business purpose. Commercial Commercial Commercial Residential Real Estate Consumer Total September 30, 2015 Pass $ 124,065 $ 147,049 $ 326,014 $ 111,857 $ 58,947 $ 8,201 $ 776,133 Special Mention 862 5,180 10,998 1,783 18 — 18,841 Substandard 4,192 8,228 3,690 8,208 30 32 24,380 Doubtful — — — — — — — Ending Balance $ 129,119 $ 160,457 $ 340,702 $ 121,848 $ 58,995 $ 8,233 $ 819,354 Commercial Commercial Commercial Residential Real Estate Consumer Total December 31, 2014 Pass $ 107,903 $ 128,222 $ 298,237 $ 100,810 $ 59,584 $ 5,651 $ 700,407 Special Mention 3,446 5,492 6,305 697 19 — 15,959 Substandard 2,837 9,300 4,124 8,834 41 46 25,182 Doubtful — — — — — — — Ending Balance $ 114,186 $ 143,014 $ 308,666 $ 110,341 $ 59,644 $ 5,697 $ 741,548 The following tables present performing and nonperforming loans based solely on payment activity for the periods ended September 30, 2015 and December 31, 2014 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 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 September 30, 2015 Performing $ 163,051 $ 8,466 $ 9,404 $ 180,921 Nonperforming — — — — Total $ 163,051 $ 8,466 $ 9,404 $ 180,921 Residential Real Estate Consumer Total December 31, 2014 Performing $ 158,169 $ 5,808 $ 9,332 $ 173,309 Nonperforming — — — — Total $ 158,169 $ 5,808 $ 9,332 $ 173,309 The following tables include an aging analysis of the recorded investment of past due loans outstanding as of September 30, 2015 and December 31, 2014. September 30, 2015 30-59 60-89 90 Days or Total Past Current Total Loans Past Due Commercial & Agriculture $ 34 $ 941 $ 286 $ 1,261 $ 127,858 $ 129,119 $ — Commercial Real Estate—Owner Occupied 161 37 393 591 159,866 160,457 — Commercial Real Estate—Non-Owner Occupied 4 — 1,496 1,500 339,202 340,702 — Residential Real Estate 912 1,788 1,971 4,671 280,228 284,899 — Real Estate Construction 199 — — 199 67,262 67,461 — Consumer and Other 490 18 24 532 17,105 17,637 24 Total $ 1,800 $ 2,784 $ 4,170 $ 8,754 $ 991,521 $ 1,000,275 $ 24 December 31, 2014 30-59 60-89 90 Days or Total Past Current Total Loans Past Due Commercial & Agriculture $ 58 $ — $ 187 $ 245 $ 113,941 $ 114,186 $ — Commercial Real Estate—Owner Occupied 622 251 657 1,530 141,484 143,014 — Commercial Real Estate—Non-Owner Occupied 521 5 2,103 2,629 306,037 308,666 — Residential Real Estate 1,923 721 2,347 4,991 263,519 268,510 — Real Estate Construction 33 — 8 41 65,411 65,452 — Consumer and Other 131 8 19 158 14,871 15,029 — Total $ 3,288 $ 985 $ 5,321 $ 9,594 $ 905,263 $ 914,857 $ — The following table presents loans on nonaccrual status as of September 30, 2015 and December 31, 2014. 2015 2014 Commercial & Agriculture $ 2,146 $ 1,264 Commercial Real Estate—Owner Occupied 1,219 3,403 Commercial Real Estate—Non-Owner Occupied 1,519 2,134 Residential Real Estate 5,602 6,674 Real Estate Construction 30 41 Consumer and Other 29 42 Total $ 10,545 $ 13,558 Nonaccrual Loans: Modifications: 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. As of September 30, 2015, TDRs accounted for $184 of the allowance for loan losses. As of December 31, 2014, TDRs accounted for $895 of the allowance for loan losses. The decrease is mainly the result of pay-offs. Loan modifications that are considered TDRs completed during the nine-month periods ended September 30, 2015 and September 30, 2014 were as follows: For the Nine-Month Period Ended For the Nine-Month Period Ended Number Pre-Modification Post- Number Pre-Modification Post- Commercial & Agriculture — $ — $ — — $ — $ — Commercial Real Estate—Owner Occupied — — — — — — Commercial Real Estate—Non-Owner Occupied — — — — — — Residential Real Estate — — — 5 245 245 Real Estate Construction 1 41 41 — — — Consumer and Other — — — — — — Total Loan Modifications 1 $ 41 $ 41 5 $ 245 $ 245 Loan modifications that are considered TDRs completed during the quarter ended September 30, 2015 and September 30, 2014 were as follows: For the Three-Month Period Ended For the Three-Month Period Ended Number Pre- Post- Number Pre-Modification Post- Commercial & Agriculture — $ — $ — — $ — $ — Commercial Real Estate — — — — — — Residential Real Estate — — — 3 97 97 Real Estate Construction — — — — — — Consumer and Other — — — — — — Total Loan Modifications — $ — $ — 3 $ 97 $ 97 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 do defaults on new origination loans, so modified loans present a higher risk of loss than do new origination loans. During both the three and nine-month periods ended September 30, 2015 and September 30, 2014, there were no defaults on loans that were modified and considered TDRs during the respective twelve previous months. Impaired Loans: The following tables include the recorded investment and unpaid principal balances for impaired financing receivables with the associated allowance amount, if applicable, as of September 30, 2015 and December 31, 2014. September 30, 2015 December 31, 2014 Recorded Unpaid Related Recorded Unpaid Related With no related allowance recorded: Commercial & Agriculture $ 871 $ 1,036 $ 1,377 $ 1,504 Commercial Real Estate - Owner Occupied 2,368 2,583 2,961 3,327 Commercial Real Estate - Non-Owner Occupied 1,828 2,094 92 140 Residential Real Estate 960 1,505 1,893 3,487 Consumer and Other 4 4 5 5 Total 6,031 7,222 6,328 8,463 With an allowance recorded: Commercial & Agriculture 23 23 $ 16 927 1,056 $ 641 Commercial Real Estate - Owner Occupied 258 258 4 596 643 57 Commercial Real Estate - Non-Owner Occupied — — — 2,083 2,287 20 Residential Real Estate 1,145 1,162 295 1,215 1,223 305 Real Estate Construction — — — — — — Total 1,426 1,443 315 4,821 5,209 1,023 Total: Commercial & Agriculture 894 1,059 16 2,304 2,560 641 Commercial Real Estate - Owner Occupied 2,626 2,841 4 3,557 3,970 57 Commercial Real Estate - Non-Owner Occupied 1,828 2,094 — 2,175 2,427 20 Residential Real Estate 2,105 2,667 295 3,108 4,710 305 Real Estate Construction — — — — — — Consumer and Other 4 4 — 5 5 — Total $ 7,457 $ 8,665 $ 315 $ 11,149 $ 13,672 $ 1,023 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, 2015 and 2014. For the nine months ended: September 30, 2015 September 30, 2014 Average Interest Average Interest Commercial & Agriculture $ 1,680 $ 54 $ 3,570 $ 104 Commercial Real Estate - Owner Occupied 3,507 168 6,313 208 Commercial Real Estate - Non-Owner Occupied 1,997 31 2,913 31 Residential Real Estate 2,640 128 3,559 220 Real Estate Construction 20 — — — Consumer and Other 5 — 7 — Total $ 9,849 $ 381 $ 16,362 $ 563 For the three months ended: September 30, 2015 September 30, 2014 Average Interest Average Interest Commercial & Agriculture $ 1,058 $ 9 $ 2,829 $ 25 Commercial Real Estate - Owner Occupied 3,263 39 5,115 21 Commercial Real Estate - Non-Owner Occupied 1,870 12 2,770 (4 ) Residential Real Estate 2,450 49 3,336 74 Real Estate Construction 20 — — — Consumer and Other 4 — 6 — Total $ 8,665 $ 109 $ 14,056 $ 116 Foreclosed Assets Held For Sale Foreclosed assets acquired in settlement of loans are carried at fair value less estimated costs to sell and are included in other assets on the Consolidated Balance Sheet. As of September 30, 2015 and December 31, 2014, a total of $494 and $560, respectively of foreclosed assets were included with other assets. As of September 30, 2015, included within the foreclosed assets is $494 of consumer residential mortgages that were foreclosed on or received via a deed in lieu transaction prior to the period end. As of September 30, 2015, the Company had initiated formal foreclosure procedures on $669 of consumer residential mortgages. |
Other Comprehensive Income
Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Other Comprehensive Income | (7) 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, 2015 and 2014: For the Nine-Month Period Ended For the Nine-Month Period Ended September 30, 2015 September 30, 2014 Unrealized Available-for- Defined Total Unrealized Available-for- Defined Total Beginning balance $ 3,730 $ (3,777 ) $ (47 ) $ 341 $ (4,588 ) $ (4,247 ) Other comprehensive income before reclassifications 57 — 57 2,916 2,666 5,582 Amounts reclassified from accumulated other comprehensive income (loss) — 138 138 (75 ) 146 71 Net current-period other comprehensive income 57 138 195 2,841 2,812 5,653 Ending balance $ 3,787 $ (3,639 ) $ 148 $ 3,182 $ (1,776 ) $ 1,406 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, 2015 and 2014: Amount Reclassified from (a) Details about Accumulated Other Comprehensive (Loss) Components For the nine For the nine Affected Line Item in the Unrealized gains and losses on available-for-sale securities $ — $ 114 Net gain on sale of securities Tax effect — (39 ) Income tax expense — 75 Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (210 ) (b) (222 ) (b) Salaries, wages and benefits Tax effect 72 76 Income tax expense (138 ) (146 ) Net of tax Total reclassifications for the period $ (138 ) $ (71 ) 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, 2015 and 2014: For the Three-Month Period Ended For the Three-Month Period Ended Unrealized Available-for- Defined Total Unrealized Available-for- Defined Total Beginning balance $ 3,007 $ (3,685 ) $ (678 ) $ 2,777 $ (1,834 ) $ 943 Other comprehensive income (loss) before reclassifications 780 — 780 406 — 406 Amounts reclassified from accumulated other comprehensive income (loss) — 46 46 (1 ) 58 57 Net current-period other comprehensive income (loss) 780 46 826 405 58 463 Ending balance $ 3,787 $ (3,639 ) $ 148 $ 3,182 $ (1,776 ) $ 1,406 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, 2015 and 2014: Amount Reclassified from (a) Details about Accumulated Other Comprehensive (Loss) Components For the three For the three Affected Line Item in the is Presented Unrealized gains and losses on available-for-sale securities $ — $ 1 Net gain on sale of securities Tax effect — — Income tax expense — 1 Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (70 ) (b) (89 ) (b) Salaries, wages and benefits Tax effect 24 31 Income tax expense (46 ) (58 ) Net of tax Total reclassifications for the period $ (46 ) $ (57 ) 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. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | (8) Goodwill and Intangible Assets The carrying amount of goodwill has increased $5,375 since December 31, 2014 as a result of the TCNB acquisition. The balance of goodwill was $27,095 at September 30, 2015 and $21,720 at December 31, 2014. Management performs an annual evaluation of goodwill for impairment, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Management last performed an evaluation of the Company’s goodwill during the fourth quarter of 2014 and concluded that the Company’s goodwill was not impaired at December 31, 2014. Acquired intangible assets were as follows as of 2015 2014 Gross Accumulated Gross Accumulated Core deposit and other intangibles $ 7,274 $ 5,264 $ 9,378 $ 7,689 Aggregate amortization expense was $522 and $604 for September 30, 2015 and 2014, respectively. Estimated amortization expense for each of the next three years and thereafter is as follows. 2015 $ 188 2016 699 2017 587 Thereafter 536 $ 2,010 |
Short-Term Borrowings
Short-Term Borrowings | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | (9) Short-Term Borrowings Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows: At September 30, 2015 At December 31, 2014 Federal Short-term Federal Short-term Outstanding balance $ — $ 54,700 $ — $ 42,700 Maximum indebtedness 25,000 64,700 — 42,700 Average balance 93 21,938 41 1,951 Average rate paid 0.54 % 0.18 % 0.54 % 0.19 % Interest rate on balance 0.00 % 0.19 % — 0.14 % Outstanding during the year represent daily averages. Average interest rates represent interest expense divided by the related average balances. These borrowing transactions can range from overnight to six months in maturity. The average maturity was one day at September 30, 2015 and December 31, 2014. Securities sold under agreements to repurchase are used to facilitate the needs of our customers as well as to facilitate our short-term funding needs. Securities sold under repurchase agreements are carried at the amount of cash received in association with the agreement. We continuously monitor the collateral levels and may be required, from time to time, to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. The following table presents detail regarding the securities pledged as collateral under repurchase agreements as of September 30, 2015 and December 31, 2014. All of the repurchase agreements are overnight agreements. September 30, 2015 December 31, 2014 Securities pledged for repurchase agreements: U.S. Treasury securities $ 813 $ 876 Obligations of U.S. government agencies 20,074 20,737 Total securities pledged $ 20,887 $ 21,613 Gross amount of recognized liabilities for repurchase agreements $ 20,887 $ 21,613 Amounts related to agreements not included in offsetting disclosures above $ — $ — |
Earnings per Common Share
Earnings per Common Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | (10) Earnings per Common Share Basic earnings per share are computed as 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 the equity incentive plan, computed using the treasury stock method, and the impact of the Company’s convertible preferred stock using the “if converted” method. Three months ended Nine months ended 2015 2014 2015 2014 Basic Net income $ 3,253 $ 2,306 $ 9,546 $ 7,257 Preferred stock dividends 391 406 1,186 1,467 Net income available to common shareholders - basic $ 2,862 $ 1,900 $ 8,360 $ 5,790 Weighted average common shares outstanding - basic 7,843,578 7,707,917 7,815,222 7,707,917 Basic earnings per common share $ 0.36 $ 0.25 $ 1.07 $ 0.75 Diluted Net income available to common shareholders - basic $ 2,862 $ 1,900 $ 8,360 $ 5,790 Preferred stock dividends on convertible preferred stock 391 406 1,186 1,201 Net income available to common shareholders - diluted $ 3,253 $ 2,306 $ 9,546 $ 6,991 Weighted average common shares outstanding for basic earnings per common share basic 7,843,578 7,707,917 7,815,222 7,707,917 Add: Dilutive effects of convertible preferred shares 3,078,245 3,196,931 3,101,937 3,196,931 Average shares and dilutive potential common shares outstanding - diluted 10,921,823 10,904,848 10,917,159 10,904,848 Diluted earnings per common share $ 0.30 $ 0.21 $ 0.87 $ 0.64 For the three and nine-month periods ended September 30, 2015 there were 3,078,245 and 3,101,937, respectively, dilutive shares related to the Company’s convertible preferred stock. 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 stock. Under the “if converted” method, all convertible preferred shares are assumed to be converted into common shares at the corresponding conversion rate. These additional shares are then added to the common shares outstanding to calculate diluted earnings per share. For the three- and nine-month periods ended September 30, 2015, there were 16,983 shares of unvested restricted stock outstanding at a price of $10.82 per share that were not included in the computation of diluted earnings per share because they were anti-dilutive. At September 30, 2014, there was no unvested restricted stock outstanding. There were no stock options outstanding during the three- and nine-month periods ended September 30, 2015 and 2014. |
Commitments, Contingencies and
Commitments, Contingencies and Off-Balance Sheet Risk | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Off-Balance Sheet Risk | (11) 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, 2015 and December 31, 2014: Contract Amount September 30, 2015 December 31, 2014 Fixed Variable Fixed Variable Commitment to extend credit: Lines of credit and construction loans $ 5,835 $ 196,931 $ 9,405 $ 160,718 Overdraft protection 4 25,208 4 22,122 Letters of credit 200 727 200 1,007 $ 6,039 $ 222,866 $ 9,609 $ 183,847 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, 2015 and December 31, 2014, respectively. Maturities extend up to 30 years. Civista 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 $2,980 on September 30, 2015 and $3,259 on December 31, 2014. |
Pension Information
Pension Information | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension Information | (12) Pension Information The Company also sponsors a pension plan which is a noncontributory defined benefit retirement plan. Annual payments, subject to the maximum amount deductible for federal income tax purposes, are made to a pension trust fund. In 2006, the Company amended the pension plan to provide that no employee could be added as a participant to the pension plan after December 31, 2006. In 2014, the Company amended the pension plan again to provide that no additional benefits would accrue beyond April 30, 2014. Net periodic pension expense was as follows: Three months ended Nine months ended 2015 2014 2015 2014 Service cost $ — $ 94 $ — $ 264 Interest cost 156 201 468 581 Expected return on plan assets (283 ) (312 ) (848 ) (903 ) Other components 70 89 210 222 Net periodic pension cost (benefit) $ (57 ) $ 72 $ (170 ) $ 164 The total amount of pension contributions expected to be paid by the Company in 2015 is $700, compared to $1,515 in 2014. |
Equity Incentive Plan
Equity Incentive Plan | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plan | (13) Equity Incentive Plan At the Company’s 2014 annual meeting, the shareholders adopted the Company’s 2014 Incentive Plan (“2014 Incentive Plan”). 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. There were 358,017 shares available for grants under this plan at September 30, 2015. Certain officers were granted an aggregate of 16,983 restricted shares on March 17, 2015. The 2015 restricted shares vest over a 3-year service period, with one third each vesting on January 2 of 2016, 2017 and 2018. The product of the number of restricted shares granted and the grant date market price of the Company’s common shares determines the fair value of restricted shares under the Company’s 2014 Incentive Plan. Management recognizes compensation expense for the fair value of restricted shares on a straight-line basis over the requisite service period for the entire award. The Company classifies share-based compensation for employees with “Salaries, wages and benefits” in the consolidated statements of income. Additionally, generally accepted accounting principles require the Company to report: (1) the expense associated with the grants as an adjustment to operating cash flows, and (2) any benefits of realized tax deductions in excess of previously recognized tax benefits on compensation expense as a financing cash flow. No options had been granted under the 2014 Incentive Plan as of September 30, 2015 and 2014. During the three and nine months ended September 30, 2015, the Company recorded $18 and $43, respectively, of share-based compensation expense for restricted shares granted under the 2014 Incentive Plan. Expected future compensation expense relating to the 16,983 restricted shares at September 30, 2015, is $141 over the remaining vesting period of 2.25 years. The following is a summary of the status of the Company’s restricted shares as of September 30, 2015, and changes therein during the three and nine months ended: Three months ended Nine months ended Number of Weighted Number of Weighted Nonvested at beginning of period 16,983 $ 10.82 — $ — Granted — — 16,983 10.82 Vested — — — — Forfeited — — — — Nonvested at September 30, 2015 16,983 10.82 16,983 10.82 |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | (14) 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: Equity securities: The fair value of the swap asset/liability: Impaired loans: Other real estate owned: Assets measured at fair value are summarized below. Fair Value Measurements at September 30, 2015 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 $ — $ 39,492 $ — Obligations of states and political subdivisions — 92,379 — Mortgage-backed securities in government sponsored entities — 66,197 — Equity securities in financial institutions — 587 — Fair value of swap asset — 2,379 — Liabilities: Fair value of swap liability — 2,379 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 7,142 Other real estate owned — — 494 Fair Value Measurements at December 31, 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 $ — $ 42,902 $ — Obligations of states and political subdivisions — 88,021 — Mortgage-backed securities in government sponsored entities — 66,442 — Equity securities in financial institutions — 540 — Fair value of swap asset — 1,721 — Liabilities: Fair value of swap liability — 1,721 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 10,126 Other real estate owned — — 560 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, 2015. Quantitative Information about Level 3 Fair Value Measurements September 30, 2015 Fair Value Valuation Technique Unobservable Input Range Impaired loans $ 7,142 Appraisal of collateral Appraisal adjustments 10% - 30% Liquidation expense 0% - 10% Holding period 0 -30 months Discounted cash flows Discount rates 3.8% - 8.0% Other real estate owned $ 494 Appraisal of collateral Appraisal adjustments 10% - 30% Liquidation expense 0% - 10% The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2014. Quantitative Information about Level 3 Fair Value Measurements December 31, 2014 Fair Value Valuation Technique Unobservable Input Range Impaired loans $ 10,126 Appraisal of collateral Appraisal adjustments 10% - 30% Liquidation expense 0% - 10% Holding period 0 -30 months Discounted cash flows Discount rates 3.8% - 8.0% Other real estate owned $ 560 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, 2015 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 33,619 $ 33,619 $ 33,619 $ — $ — Securities available for sale 198,655 198,655 — 198,655 — Other securities 13,324 13,324 13,324 — — Loans, held for sale 1,223 1,223 1,223 — — Loans, net of allowance for loan losses 985,515 991,870 — — 991,870 Bank owned life insurance 19,987 19,987 19,987 — — Accrued interest receivable 4,880 4,880 4,880 — — Fair value swap asset 2,379 2,379 — 2,379 — Financial Liabilities: Nonmaturing deposits 839,822 839,822 839,822 — — Time deposits 216,137 216,839 — — 216,839 Short-term FHLB advances 54,700 54,700 54,700 — — Long-term FHLB advances 17,500 17,644 — — 17,644 Securities sold under agreement to repurchase 20,887 20,887 20,887 — — Subordinated debentures 29,427 24,949 — — 24,949 Accrued interest payable 152 152 152 — — Fair value swap liability 2,379 2,379 — 2,379 — December 31, 2014 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 29,858 $ 29,858 $ 29,858 $ — $ — Securities available for sale 197,905 197,905 — 197,905 — Other securities 12,586 12,586 12,586 — — Loans, held for sale 2,410 2,410 2,410 — — Loans, net of allowance for loan losses 900,589 908,118 — — 908,118 Bank owned life insurance 19,637 19,637 19,637 — — Accrued interest receivable 3,852 3,852 3,852 — — Fair value swap asset 1,721 1,721 — 1,721 — Financial Liabilities: Nonmaturing deposits 748,948 748,948 748,948 — — Time deposits 219,970 221,263 — — 221,263 Short-term FHLB advances 42,700 42,700 42,700 — — Long-term FHLB advances 22,500 22,699 — — 22,699 Securities sold under agreement to repurchase 21,613 21,613 21,613 — — Subordinated debentures 29,427 24,688 — — 24,688 Accrued interest payable 126 126 126 — — Fair value swap liability 1,721 1,721 — 1,721 — Cash and due from financial institutions: Securities available for sale: Other securities: Loans, held-for-sale: Loans, net of allowance for loan losses: Bank owned life insurance: Accrued interest receivable and payable and securities sold under agreements to repurchase: Deposits: 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: Subordinated debentures: Fair value swap asset and liability: |
Preferred Shares
Preferred Shares | 9 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Preferred Shares | (15) Preferred Shares 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 its outstanding Series A Preferred Shares for an aggregate purchase price of $22,857, which redemption was completed as of February 15, 2014. |
Derivative Hedging Instruments
Derivative Hedging Instruments | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Hedging Instruments | (16) Derivative Hedging Instruments To accommodate customer need and to support the Company’s asset/liability positioning, on occasion we enter into interest rate swaps with a customer and a bank counterparty. The Company enters into a floating rate loan and a fixed rate swap with our customer. Simultaneously, the Company enters into an offsetting fixed rate swap with a bank counterparty. In connection with each swap transaction, the Company agrees to pay interest to the customer on a notional amount at a variable interest rate and receive interest from the customer on the same notional amount at a fixed interest rate. At the same time, the Company agrees to pay a bank counterparty the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. These transactions allow the Company’s customer to effectively convert variable rate loans to fixed rate loans. Since the Company acts as an intermediary for its customer, changes in the fair value of the underlying derivative contracts offset each other and do not significantly impact the Company’s results of operations. The following table summarizes the Company’s interest rate swap positions and the impact of a 1 basis point change in interest rates as of September 30, 2015. Notional Weighted Impact of a Repricing Derivative Assets $ 30,802 5.41 % $ 18 Monthly Derivative Liabilities (30,802 ) -5.41 % (18 ) Monthly Net Exposure $ — $ — The following table summarizes the Company’s interest rate swap positions and the impact of a 1 basis point change in interest rates as of December 31, 2014 Notional Weighted Impact of a Repricing Derivative Assets $ 29,060 5.47 % $ 19 Monthly Derivative Liabilities (29,060 ) -5.47 % (19 ) Monthly Net Exposure $ — $ — The Company monitors and controls all derivative products with a comprehensive Board of Director approved commercial loan swap policy. All hedge transactions must be approved in advance by the Lenders Loan Committee or the Directors Loan Committee of the Board of Directors. |
Significant Accounting Polici25
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Use of Estimates | Use of Estimates |
Income Taxes | Income Taxes |
Business Combinations | Business Combinations: |
Reclassifications | Reclassifications: |
Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities Derivatives and Hedging |
Effect of Newly Issued but Not Yet Effective Accounting Standards | Effect of Newly Issued but Not Yet Effective Accounting Standards: In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers 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 In November 2014, the FASB issued ASU 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity (a consensus of the FASB Emerging Issues Task Force). In November 2014, the FASB issued ASU 2014-17, Business Combinations (Topic 805): Pushdown Accounting. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) In April 2015, the FASB issued ASU 2015-04, Compensation-Retirement Benefits (Topic 715), In May 2015, the FASB issued ASU 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) In May 2015, the FASB issued ASU 2015-08 , Business Combinations – Pushdown Accounting – Amendment to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 In August 2015, the FASB issued ASU 2015-14, Revenue from Contract with Customers In August 2015, the FASB issued ASU 2015-15, Interest-Imputation of Interest (Subtopic 835-30) Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805). |
Merger (Tables)
Merger (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Schedule of Financial Information for Former TCNB Included in Consolidated Statement of Income | The following table presents financial information for the former TCNB included in the Consolidated Statements of Income from the date of acquisition through September 30, 2015 and for the three-month period ended September 30, 2015. Actual From For the Three-Month Net interest income after provision for loan losses $ 2,291 $ 987 Noninterest income 71 — Net income 859 396 |
Business Acquisition Pro Forma Information | The following table presents pro forma information for the nine and three-month periods ended September 30, 2015 and 2014 as if the acquisition of TCNB had occurred on January 1, 2014. This table has been prepared for comparative purposes only and is not indicative of the actual results that would have been attained had the acquisition occurred as of the beginning of the periods presented, nor is it indicative of future results. Pro Formas Pro Formas Nine months ended Three months ended 2015 2014 2015 2014 Net interest income after provision for loan losses $ 36,951 $ 32,799 $ 12,974 $ 30,677 Noninterest income 11,624 11,376 3,076 3,093 Net income 9,645 7,820 3,599 2,418 Pro forma earnings per share: Basic $ 1.13 $ 0.88 $ 0.41 $ 0.26 Diluted $ 0.88 $ 0.69 $ 0.33 $ 0.22 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for TCNB. Core deposit intangibles will be amortized over periods of between five and ten years using an accelerated method. Goodwill will not be amortized, but instead will be evaluated for impairment. At March 6, 2015 Total purchase price $ 17,226 Net assets acquired: Cash and short-term investments 18,152 Loans, net 76,444 Other securities 716 Premises and equipment 1,738 Accrued interest receivable 194 Core deposit intangible 1,009 Other assets 472 Noninterest-bearing deposits (18,263 ) Interest-bearing deposits (68,606 ) Other liabilities (5 ) 11,851 Goodwill $ 5,375 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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, 2015 Amortized Gross Gross Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 39,271 $ 234 $ (13 ) $ 39,492 Obligations of states and political subdivisions 87,971 4,551 (143 ) 92,379 Mortgage-backed securities in government sponsored entities 65,192 1,079 (74 ) 66,197 Total debt securities 192,434 5,864 (230 ) 198,068 Equity securities in financial institutions 481 106 — 587 Total $ 192,915 $ 5,970 $ (230 ) $ 198,655 December 31, 2014 Amortized Gross Gross Fair Value U.S. Treasury securities and obligations of U.S. government agencies $ 42,910 $ 115 $ (123 ) $ 42,902 Obligations of states and political subdivisions 83,215 5,112 (306 ) 88,021 Mortgage-backed securities in government sponsored entities 65,646 976 (180 ) 66,442 Total debt securities 191,771 6,203 (609 ) 197,365 Equity securities in financial institutions 481 59 — 540 Total $ 192,252 $ 6,262 $ (609 ) $ 197,905 |
Fair Value of Securities by Contractual Maturity | The amortized cost and fair value of securities at September 30, 2015, 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 $ 4,716 $ 4,731 Due after one year through five years 26,519 26,734 Due after five years through ten years 30,616 32,110 Due after ten years 65,391 68,296 Mortgage-backed securities 65,192 66,197 Equity securities 481 587 Total securities available for sale $ 192,915 $ 198,655 |
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, 2015 2014 2015 2014 Sale proceeds $ — $ — $ — $ 18,088 Gross realized gains — — — 113 Gross realized losses — — — — Gains (losses) from securities called or settled by the issuer (5 ) 1 (5 ) 1 |
Securities with Unrealized Losses Not Recognized in Income | Securities with unrealized losses at September 30, 2015 and December 31, 2014 not recognized in income are as follows: September 30, 2015 12 Months or less More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Loss Value Loss Value Loss U.S. Treasury securities and obligations of U.S. government agencies $ 2,037 $ — $ 1,192 $ (13 ) $ 3,229 $ (13 ) Obligations of states and political subdivisions 7,866 (93 ) 1,466 (50 ) 9,332 (143 ) Mortgage-backed securities in gov’t sponsored entities 6,156 (37 ) 7,649 (37 ) 13,805 (74 ) Total temporarily impaired $ 16,059 $ (130 ) $ 10,307 $ (100 ) $ 26,366 $ (230 ) December 31, 2014 12 Months or less More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Loss Value Loss Value Loss U.S. Treasury securities and obligations of U.S. government agencies $ 7,664 $ (17 ) $ 11,888 $ (106 ) $ 19,552 $ (123 ) Obligations of states and political subdivisions 853 (11 ) 5,647 (295 ) 6,500 (306 ) Mortgage-backed securities in gov’t sponsored entities 12,289 (29 ) 11,492 (151 ) 23,781 (180 ) Total temporarily impaired $ 20,806 $ (57 ) $ 29,027 $ (552 ) $ 49,833 $ (609 ) |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Loan balances | Loan balances were as follows: September 30, December 31, 2015 2014 Commercial and agriculture $ 129,119 $ 114,186 Commercial real estate- owner occupied 160,457 143,014 Commercial real estate- non-owner occupied 340,702 308,666 Residential real estate 284,899 268,510 Real estate construction 67,461 65,452 Consumer and other 17,637 15,029 Total loans 1,000,275 914,857 Allowance for loan losses (14,760 ) (14,268 ) Net loans $ 985,515 $ 900,589 |
TCNB Financial Corp [Member] | |
Loan balances | Included in the totals above are loans acquired from TCNB at the acquisition date, net of fair value adjustments, of: March 6, 2015 Commercial and agriculture $ 13,799 Commercial real estate- owner occupied 23,029 Commercial real estate- non-owner occupied 13,808 Residential real estate 17,541 Real estate construction 3,863 Consumer and other 4,404 Net loans $ 76,444 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Text Block [Abstract] | |
Changes in the Allowance for Loan Losses and Loan Balances Outstanding | The following tables present, by portfolio segment, the changes in the allowance for loan losses for the three and nine months ended September 30, 2015 and 2014. Commercial & Commercial Commercial Residential Real Estate Consumer Unallocated Total For the nine months ended September 30, 2015 Allowance for loan losses: Beginning balance $ 1,822 $ 2,580 $ 4,798 $ 3,747 $ 428 $ 196 $ 697 $ 14,268 Charge-offs (187 ) (363 ) (81 ) (779 ) — (114 ) — (1,524 ) Recoveries 157 223 105 289 4 38 — 816 Provision (405 ) 506 512 964 (4 ) 245 (618 ) 1,200 Ending Balance $ 1,387 $ 2,946 $ 5,334 $ 4,221 $ 428 $ 365 $ 79 $ 14,760 Commercial & Commercial Commercial Residential Real Estate Consumer Unallocated Total For the nine months ended September 30, 2014 Allowance for loan losses: Beginning balance $ 2,841 $ 3,263 $ 4,296 $ 5,224 $ 184 $ 214 $ 506 $ 16,528 Charge-offs (326 ) (1,615 ) (105 ) (1,329 ) — (65 ) — (3,440 ) Recoveries 238 316 34 216 5 48 — 857 Provision (1,148 ) 902 753 201 176 18 598 1,500 Ending Balance $ 1,605 $ 2,866 $ 4,978 $ 4,312 $ 365 $ 215 $ 1,104 $ 15,445 Commercial & Commercial Commercial Residential Real Estate Consumer Unallocated Total For the three months ended September 30, 2015 Allowance for loan losses: Beginning balance $ 1,395 $ 3,383 $ 5,427 $ 3,470 $ 434 $ 190 $ 408 $ 14,707 Charge-offs (187 ) (164 ) (18 ) (237 ) — (28 ) — (634 ) Recoveries 127 13 14 124 1 8 — 287 Provision 52 (286 ) (89 ) 864 (7 ) 195 (329 ) 400 Ending Balance $ 1,387 $ 2,946 $ 5,334 $ 4,221 $ 428 $ 365 $ 79 $ 14,760 Commercial & Commercial Commercial Residential Real Estate Consumer Unallocated Total For the three months ended September 30, 2014 Allowance for loan losses: Beginning balance $ 2,067 $ 3,135 $ 4,853 $ 4,439 $ 287 $ 196 $ 418 $ 15,395 Charge-offs (13 ) (146 ) — (275 ) — (22 ) — (456 ) Recoveries 143 241 10 95 2 15 — 506 Provision (592 ) (364 ) 115 53 76 26 686 — Ending Balance $ 1,605 $ 2,866 $ 4,978 $ 4,312 $ 365 $ 215 $ 1,104 $ 15,445 The following tables present, by portfolio segment, the allocation of the allowance for loan losses and related loan balances as of September 30, 2015 and December 31, 2014. Commercial & Commercial Commercial Residential Real Estate Consumer Unallocated Total September 30, 2015 Allowance for loan losses: Loans acquired with credit deterioration $ — $ — $ — $ 131 $ — $ — $ — $ 131 Ending balance: Individually evaluated for impairment $ 16 $ 4 $ — $ 164 $ — $ — $ — $ 184 Ending balance: Collectively evaluated for impairment $ 1,371 $ 2,942 $ 5,334 $ 3,926 $ 428 $ 365 $ 79 $ 14,445 Ending balance $ 1,387 $ 2,946 $ 5,334 $ 4,221 $ 428 $ 365 $ 79 $ 14,760 Loan balances outstanding: Loans acquired with credit deterioration $ 16 $ 30 $ — $ 381 $ — $ — $ 427 Ending balance: Individually evaluated for impairment $ 894 $ 2,626 $ 1,828 $ 1,746 $ — $ 4 $ 7,098 Ending balance: Collectively evaluated for impairment $ 128,209 $ 157,801 $ 338,874 $ 282,772 $ 67,461 $ 17,633 $ 992,750 Ending balance $ 129,119 $ 160,457 $ 340,702 $ 284,899 $ 67,461 $ 17,637 $ 1,000,275 Commercial & Commercial Commercial Residential Real Estate Consumer Unallocated Total December 31, 2014 Allowance for loan losses: Ending balance: Individually evaluated for impairment $ 641 $ 57 $ 20 $ 305 $ — $ — $ — $ 1,023 Ending balance: Collectively evaluated for impairment $ 1,181 $ 2,523 $ 4,778 $ 3,442 $ 428 $ 196 $ 697 $ 13,245 Ending balance $ 1,822 $ 2,580 $ 4,798 $ 3,747 $ 428 $ 196 $ 697 $ 14,268 Loan balances outstanding: Ending balance: Individually evaluated for impairment $ 2,304 $ 3,557 $ 2,175 $ 3,108 $ — $ 5 $ 11,149 Ending balance: Collectively evaluated for impairment $ 111,882 $ 139,457 $ 306,491 $ 265,402 $ 65,452 $ 15,024 $ 903,708 Ending balance $ 114,186 $ 143,014 $ 308,666 $ 268,510 $ 65,452 $ 15,029 $ 914,857 |
Credit Exposures by Internally Assigned Grades | Commercial Commercial Commercial Residential Real Estate Consumer Total September 30, 2015 Pass $ 124,065 $ 147,049 $ 326,014 $ 111,857 $ 58,947 $ 8,201 $ 776,133 Special Mention 862 5,180 10,998 1,783 18 — 18,841 Substandard 4,192 8,228 3,690 8,208 30 32 24,380 Doubtful — — — — — — — Ending Balance $ 129,119 $ 160,457 $ 340,702 $ 121,848 $ 58,995 $ 8,233 $ 819,354 Commercial Commercial Commercial Residential Real Estate Consumer Total December 31, 2014 Pass $ 107,903 $ 128,222 $ 298,237 $ 100,810 $ 59,584 $ 5,651 $ 700,407 Special Mention 3,446 5,492 6,305 697 19 — 15,959 Substandard 2,837 9,300 4,124 8,834 41 46 25,182 Doubtful — — — — — — — Ending Balance $ 114,186 $ 143,014 $ 308,666 $ 110,341 $ 59,644 $ 5,697 $ 741,548 |
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 September 30, 2015 Performing $ 163,051 $ 8,466 $ 9,404 $ 180,921 Nonperforming — — — — Total $ 163,051 $ 8,466 $ 9,404 $ 180,921 Residential Real Estate Consumer Total December 31, 2014 Performing $ 158,169 $ 5,808 $ 9,332 $ 173,309 Nonperforming — — — — Total $ 158,169 $ 5,808 $ 9,332 $ 173,309 |
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, 2015 and December 31, 2014. September 30, 2015 30-59 60-89 90 Days or Total Past Current Total Loans Past Due Commercial & Agriculture $ 34 $ 941 $ 286 $ 1,261 $ 127,858 $ 129,119 $ — Commercial Real Estate—Owner Occupied 161 37 393 591 159,866 160,457 — Commercial Real Estate—Non-Owner Occupied 4 — 1,496 1,500 339,202 340,702 — Residential Real Estate 912 1,788 1,971 4,671 280,228 284,899 — Real Estate Construction 199 — — 199 67,262 67,461 — Consumer and Other 490 18 24 532 17,105 17,637 24 Total $ 1,800 $ 2,784 $ 4,170 $ 8,754 $ 991,521 $ 1,000,275 $ 24 December 31, 2014 30-59 60-89 90 Days or Total Past Current Total Loans Past Due Commercial & Agriculture $ 58 $ — $ 187 $ 245 $ 113,941 $ 114,186 $ — Commercial Real Estate—Owner Occupied 622 251 657 1,530 141,484 143,014 — Commercial Real Estate—Non-Owner Occupied 521 5 2,103 2,629 306,037 308,666 — Residential Real Estate 1,923 721 2,347 4,991 263,519 268,510 — Real Estate Construction 33 — 8 41 65,411 65,452 — Consumer and Other 131 8 19 158 14,871 15,029 — Total $ 3,288 $ 985 $ 5,321 $ 9,594 $ 905,263 $ 914,857 $ — |
Summary of Nonaccrual Loans | The following table presents loans on nonaccrual status as of September 30, 2015 and December 31, 2014. 2015 2014 Commercial & Agriculture $ 2,146 $ 1,264 Commercial Real Estate—Owner Occupied 1,219 3,403 Commercial Real Estate—Non-Owner Occupied 1,519 2,134 Residential Real Estate 5,602 6,674 Real Estate Construction 30 41 Consumer and Other 29 42 Total $ 10,545 $ 13,558 |
Schedule of Troubled Debt Restructurings | Loan modifications that are considered TDRs completed during the nine-month periods ended September 30, 2015 and September 30, 2014 were as follows: For the Nine-Month Period Ended For the Nine-Month Period Ended Number Pre-Modification Post- Number Pre-Modification Post- Commercial & Agriculture — $ — $ — — $ — $ — Commercial Real Estate—Owner Occupied — — — — — — Commercial Real Estate—Non-Owner Occupied — — — — — — Residential Real Estate — — — 5 245 245 Real Estate Construction 1 41 41 — — — Consumer and Other — — — — — — Total Loan Modifications 1 $ 41 $ 41 5 $ 245 $ 245 Loan modifications that are considered TDRs completed during the quarter ended September 30, 2015 and September 30, 2014 were as follows: For the Three-Month Period Ended For the Three-Month Period Ended Number Pre- Post- Number Pre-Modification Post- Commercial & Agriculture — $ — $ — — $ — $ — Commercial Real Estate — — — — — — Residential Real Estate — — — 3 97 97 Real Estate Construction — — — — — — Consumer and Other — — — — — — Total Loan Modifications — $ — $ — 3 $ 97 $ 97 |
Impaired Financing Receivables | The following tables include the recorded investment and unpaid principal balances for impaired financing receivables with the associated allowance amount, if applicable, as of September 30, 2015 and December 31, 2014. September 30, 2015 December 31, 2014 Recorded Unpaid Related Recorded Unpaid Related With no related allowance recorded: Commercial & Agriculture $ 871 $ 1,036 $ 1,377 $ 1,504 Commercial Real Estate - Owner Occupied 2,368 2,583 2,961 3,327 Commercial Real Estate - Non-Owner Occupied 1,828 2,094 92 140 Residential Real Estate 960 1,505 1,893 3,487 Consumer and Other 4 4 5 5 Total 6,031 7,222 6,328 8,463 With an allowance recorded: Commercial & Agriculture 23 23 $ 16 927 1,056 $ 641 Commercial Real Estate - Owner Occupied 258 258 4 596 643 57 Commercial Real Estate - Non-Owner Occupied — — — 2,083 2,287 20 Residential Real Estate 1,145 1,162 295 1,215 1,223 305 Real Estate Construction — — — — — — Total 1,426 1,443 315 4,821 5,209 1,023 Total: Commercial & Agriculture 894 1,059 16 2,304 2,560 641 Commercial Real Estate - Owner Occupied 2,626 2,841 4 3,557 3,970 57 Commercial Real Estate - Non-Owner Occupied 1,828 2,094 — 2,175 2,427 20 Residential Real Estate 2,105 2,667 295 3,108 4,710 305 Real Estate Construction — — — — — — Consumer and Other 4 4 — 5 5 — Total $ 7,457 $ 8,665 $ 315 $ 11,149 $ 13,672 $ 1,023 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, 2015 and 2014. For the nine months ended: September 30, 2015 September 30, 2014 Average Interest Average Interest Commercial & Agriculture $ 1,680 $ 54 $ 3,570 $ 104 Commercial Real Estate - Owner Occupied 3,507 168 6,313 208 Commercial Real Estate - Non-Owner Occupied 1,997 31 2,913 31 Residential Real Estate 2,640 128 3,559 220 Real Estate Construction 20 — — — Consumer and Other 5 — 7 — Total $ 9,849 $ 381 $ 16,362 $ 563 For the three months ended: September 30, 2015 September 30, 2014 Average Interest Average Interest Commercial & Agriculture $ 1,058 $ 9 $ 2,829 $ 25 Commercial Real Estate - Owner Occupied 3,263 39 5,115 21 Commercial Real Estate - Non-Owner Occupied 1,870 12 2,770 (4 ) Residential Real Estate 2,450 49 3,336 74 Real Estate Construction 20 — — — Consumer and Other 4 — 6 — Total $ 8,665 $ 109 $ 14,056 $ 116 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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, 2015 and 2014: For the Nine-Month Period Ended For the Nine-Month Period Ended September 30, 2015 September 30, 2014 Unrealized Available-for- Defined Total Unrealized Available-for- Defined Total Beginning balance $ 3,730 $ (3,777 ) $ (47 ) $ 341 $ (4,588 ) $ (4,247 ) Other comprehensive income before reclassifications 57 — 57 2,916 2,666 5,582 Amounts reclassified from accumulated other comprehensive income (loss) — 138 138 (75 ) 146 71 Net current-period other comprehensive income 57 138 195 2,841 2,812 5,653 Ending balance $ 3,787 $ (3,639 ) $ 148 $ 3,182 $ (1,776 ) $ 1,406 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, 2015 and 2014: For the Three-Month Period Ended For the Three-Month Period Ended Unrealized Available-for- Defined Total Unrealized Available-for- Defined Total Beginning balance $ 3,007 $ (3,685 ) $ (678 ) $ 2,777 $ (1,834 ) $ 943 Other comprehensive income (loss) before reclassifications 780 — 780 406 — 406 Amounts reclassified from accumulated other comprehensive income (loss) — 46 46 (1 ) 58 57 Net current-period other comprehensive income (loss) 780 46 826 405 58 463 Ending balance $ 3,787 $ (3,639 ) $ 148 $ 3,182 $ (1,776 ) $ 1,406 |
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, 2015 and 2014: Amount Reclassified from (a) Details about Accumulated Other Comprehensive (Loss) Components For the nine For the nine Affected Line Item in the Unrealized gains and losses on available-for-sale securities $ — $ 114 Net gain on sale of securities Tax effect — (39 ) Income tax expense — 75 Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (210 ) (b) (222 ) (b) Salaries, wages and benefits Tax effect 72 76 Income tax expense (138 ) (146 ) Net of tax Total reclassifications for the period $ (138 ) $ (71 ) 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, 2015 and 2014: Amount Reclassified from (a) Details about Accumulated Other Comprehensive (Loss) Components For the three For the three Affected Line Item in the is Presented Unrealized gains and losses on available-for-sale securities $ — $ 1 Net gain on sale of securities Tax effect — — Income tax expense — 1 Net of tax Amortization of defined benefit pension items Actuarial gains/(losses) (70 ) (b) (89 ) (b) Salaries, wages and benefits Tax effect 24 31 Income tax expense (46 ) (58 ) Net of tax Total reclassifications for the period $ (46 ) $ (57 ) 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. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Acquired Intangible Assets | Acquired intangible assets were as follows as of 2015 2014 Gross Accumulated Gross Accumulated Core deposit and other intangibles $ 7,274 $ 5,264 $ 9,378 $ 7,689 |
Schedule of Estimated Amortization Expense | Estimated amortization expense for each of the next three years and thereafter is as follows. 2015 $ 188 2016 699 2017 587 Thereafter 536 $ 2,010 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Summary of Federal Funds Purchased and Other Short-term Borrowings | Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows: At September 30, 2015 At December 31, 2014 Federal Short-term Federal Short-term Outstanding balance $ — $ 54,700 $ — $ 42,700 Maximum indebtedness 25,000 64,700 — 42,700 Average balance 93 21,938 41 1,951 Average rate paid 0.54 % 0.18 % 0.54 % 0.19 % Interest rate on balance 0.00 % 0.19 % — 0.14 % |
Summary of Securities Pledged as Collateral Under Repurchase Agreements | The following table presents detail regarding the securities pledged as collateral under repurchase agreements as of September 30, 2015 and December 31, 2014. All of the repurchase agreements are overnight agreements. September 30, 2015 December 31, 2014 Securities pledged for repurchase agreements: U.S. Treasury securities $ 813 $ 876 Obligations of U.S. government agencies 20,074 20,737 Total securities pledged $ 20,887 $ 21,613 Gross amount of recognized liabilities for repurchase agreements $ 20,887 $ 21,613 Amounts related to agreements not included in offsetting disclosures above $ — $ — |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings per Common Share | Basic earnings per share are computed as 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 the equity incentive plan, computed using the treasury stock method, and the impact of the Company’s convertible preferred stock using the “if converted” method. Three months ended Nine months ended 2015 2014 2015 2014 Basic Net income $ 3,253 $ 2,306 $ 9,546 $ 7,257 Preferred stock dividends 391 406 1,186 1,467 Net income available to common shareholders - basic $ 2,862 $ 1,900 $ 8,360 $ 5,790 Weighted average common shares outstanding - basic 7,843,578 7,707,917 7,815,222 7,707,917 Basic earnings per common share $ 0.36 $ 0.25 $ 1.07 $ 0.75 Diluted Net income available to common shareholders - basic $ 2,862 $ 1,900 $ 8,360 $ 5,790 Preferred stock dividends on convertible preferred stock 391 406 1,186 1,201 Net income available to common shareholders - diluted $ 3,253 $ 2,306 $ 9,546 $ 6,991 Weighted average common shares outstanding for basic earnings per common share basic 7,843,578 7,707,917 7,815,222 7,707,917 Add: Dilutive effects of convertible preferred shares 3,078,245 3,196,931 3,101,937 3,196,931 Average shares and dilutive potential common shares outstanding - diluted 10,921,823 10,904,848 10,917,159 10,904,848 Diluted earnings per common share $ 0.30 $ 0.21 $ 0.87 $ 0.64 |
Commitments, Contingencies an34
Commitments, Contingencies and Off-Balance Sheet Risk (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
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, 2015 and December 31, 2014: Contract Amount September 30, 2015 December 31, 2014 Fixed Variable Fixed Variable Commitment to extend credit: Lines of credit and construction loans $ 5,835 $ 196,931 $ 9,405 $ 160,718 Overdraft protection 4 25,208 4 22,122 Letters of credit 200 727 200 1,007 $ 6,039 $ 222,866 $ 9,609 $ 183,847 |
Pension Information (Tables)
Pension Information (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Components of Net Periodic Pension Expense | Net periodic pension expense was as follows: Three months ended Nine months ended 2015 2014 2015 2014 Service cost $ — $ 94 $ — $ 264 Interest cost 156 201 468 581 Expected return on plan assets (283 ) (312 ) (848 ) (903 ) Other components 70 89 210 222 Net periodic pension cost (benefit) $ (57 ) $ 72 $ (170 ) $ 164 |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Company's Restricted Stock | The following is a summary of the status of the Company’s restricted shares as of September 30, 2015, and changes therein during the three and nine months ended: Three months ended Nine months ended Number of Weighted Number of Weighted Nonvested at beginning of period 16,983 $ 10.82 — $ — Granted — — 16,983 10.82 Vested — — — — Forfeited — — — — Nonvested at September 30, 2015 16,983 10.82 16,983 10.82 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Assets Measured at Fair Value | Assets measured at fair value are summarized below. Fair Value Measurements at September 30, 2015 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 $ — $ 39,492 $ — Obligations of states and political subdivisions — 92,379 — Mortgage-backed securities in government sponsored entities — 66,197 — Equity securities in financial institutions — 587 — Fair value of swap asset — 2,379 — Liabilities: Fair value of swap liability — 2,379 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 7,142 Other real estate owned — — 494 Fair Value Measurements at December 31, 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 $ — $ 42,902 $ — Obligations of states and political subdivisions — 88,021 — Mortgage-backed securities in government sponsored entities — 66,442 — Equity securities in financial institutions — 540 — Fair value of swap asset — 1,721 — Liabilities: Fair value of swap liability — 1,721 — Assets measured at fair value on a nonrecurring basis: Impaired loans $ — $ — $ 10,126 Other real estate owned — — 560 |
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, 2015. Quantitative Information about Level 3 Fair Value Measurements September 30, 2015 Fair Value Valuation Technique Unobservable Input Range Impaired loans $ 7,142 Appraisal of collateral Appraisal adjustments 10% - 30% Liquidation expense 0% - 10% Holding period 0 -30 months Discounted cash flows Discount rates 3.8% - 8.0% Other real estate owned $ 494 Appraisal of collateral Appraisal adjustments 10% - 30% Liquidation expense 0% - 10% The following table presents quantitative information about the Level 3 significant unobservable inputs for assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2014. Quantitative Information about Level 3 Fair Value Measurements December 31, 2014 Fair Value Valuation Technique Unobservable Input Range Impaired loans $ 10,126 Appraisal of collateral Appraisal adjustments 10% - 30% Liquidation expense 0% - 10% Holding period 0 -30 months Discounted cash flows Discount rates 3.8% - 8.0% Other real estate owned $ 560 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, 2015 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 33,619 $ 33,619 $ 33,619 $ — $ — Securities available for sale 198,655 198,655 — 198,655 — Other securities 13,324 13,324 13,324 — — Loans, held for sale 1,223 1,223 1,223 — — Loans, net of allowance for loan losses 985,515 991,870 — — 991,870 Bank owned life insurance 19,987 19,987 19,987 — — Accrued interest receivable 4,880 4,880 4,880 — — Fair value swap asset 2,379 2,379 — 2,379 — Financial Liabilities: Nonmaturing deposits 839,822 839,822 839,822 — — Time deposits 216,137 216,839 — — 216,839 Short-term FHLB advances 54,700 54,700 54,700 — — Long-term FHLB advances 17,500 17,644 — — 17,644 Securities sold under agreement to repurchase 20,887 20,887 20,887 — — Subordinated debentures 29,427 24,949 — — 24,949 Accrued interest payable 152 152 152 — — Fair value swap liability 2,379 2,379 — 2,379 — December 31, 2014 Carrying Total Level 1 Level 2 Level 3 Financial Assets: Cash and due from financial institutions $ 29,858 $ 29,858 $ 29,858 $ — $ — Securities available for sale 197,905 197,905 — 197,905 — Other securities 12,586 12,586 12,586 — — Loans, held for sale 2,410 2,410 2,410 — — Loans, net of allowance for loan losses 900,589 908,118 — — 908,118 Bank owned life insurance 19,637 19,637 19,637 — — Accrued interest receivable 3,852 3,852 3,852 — — Fair value swap asset 1,721 1,721 — 1,721 — Financial Liabilities: Nonmaturing deposits 748,948 748,948 748,948 — — Time deposits 219,970 221,263 — — 221,263 Short-term FHLB advances 42,700 42,700 42,700 — — Long-term FHLB advances 22,500 22,699 — — 22,699 Securities sold under agreement to repurchase 21,613 21,613 21,613 — — Subordinated debentures 29,427 24,688 — — 24,688 Accrued interest payable 126 126 126 — — Fair value swap liability 1,721 1,721 — 1,721 — |
Derivative Hedging Instruments
Derivative Hedging Instruments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary of Interest Rate Swap Transactions | The following table summarizes the Company’s interest rate swap positions and the impact of a 1 basis point change in interest rates as of September 30, 2015. Notional Weighted Impact of a Repricing Derivative Assets $ 30,802 5.41 % $ 18 Monthly Derivative Liabilities (30,802 ) -5.41 % (18 ) Monthly Net Exposure $ — $ — The following table summarizes the Company’s interest rate swap positions and the impact of a 1 basis point change in interest rates as of December 31, 2014 Notional Weighted Impact of a Repricing Derivative Assets $ 29,060 5.47 % $ 19 Monthly Derivative Liabilities (29,060 ) -5.47 % (19 ) Monthly Net Exposure $ — $ — |
Consolidated Financial Statem39
Consolidated Financial Statements - Additional Information (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2015USD ($)DwellingsSegment | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Number of concentration by bank to lessors and owners of Residential Buildings and Dwellings | Dwellings | 2 |
Non Residential Buildings and Dwellings [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Amount payable to lessors | $ 215,807 |
Amount payable to lessors in percentage | 21.70% |
Residential Buildings and Dwellings [Member] | |
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items] | |
Amount payable to lessors | $ 134,752 |
Amount payable to lessors in percentage | 13.60% |
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 | 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% |
Merger - Additional Information
Merger - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Mar. 06, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Business Combinations [Line Items] | |||
Goodwill | $ 27,095 | $ 21,720 | |
TCNB Financial Corp [Member] | |||
Business Combinations [Line Items] | |||
Cash paid for acquisition | $ 17,226 | ||
Acquisition value per share | $ 23.50 | ||
Total assets of TCNB prior to the merger | $ 97,479 | ||
Assets, loan | 76,444 | ||
Assets, Deposit | 86,708 | ||
Goodwill | 5,375 | ||
Cash and short-term investments acquired | 18,152 | ||
Loans acquired with credit deterioration | 831 | ||
Deposits acquired | $ 86,700 | ||
Minimum [Member] | |||
Business Combinations [Line Items] | |||
Core deposit intangibles and other intangibles, amortization period | 5 years | ||
Maximum [Member] | |||
Business Combinations [Line Items] | |||
Core deposit intangibles and other intangibles, amortization period | 10 years |
Merger - Schedule of Financial
Merger - Schedule of Financial Information for Former TCNB Financial Corp Included in Consolidated Statement of Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 7 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | |
Business Acquisition [Line Items] | |||||
Net interest income after provision for loan losses | $ 12,002 | $ 10,684 | $ 34,031 | $ 29,615 | |
Noninterest income | 3,076 | 3,012 | 11,132 | 11,016 | |
Net income | 3,253 | $ 2,306 | $ 9,546 | $ 7,257 | |
Former TCNB Financial Corp [Member] | |||||
Business Acquisition [Line Items] | |||||
Net interest income after provision for loan losses | 987 | $ 2,291 | |||
Noninterest income | 71 | ||||
Net income | $ 396 | $ 859 |
Merger - Business Acquisition P
Merger - Business Acquisition Pro Forma Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Business Combination, Separately Recognized Transactions [Line Items] | ||||
Net interest income after provision for loan losses | $ 12,002 | $ 10,684 | $ 34,031 | $ 29,615 |
Noninterest income | 3,076 | 3,012 | 11,132 | 11,016 |
Net income | $ 3,253 | $ 2,306 | $ 9,546 | $ 7,257 |
Basic | $ 0.36 | $ 0.25 | $ 1.07 | $ 0.75 |
Diluted | $ 0.30 | $ 0.21 | $ 0.87 | $ 0.64 |
Pro Forma [Member] | ||||
Business Combination, Separately Recognized Transactions [Line Items] | ||||
Net interest income after provision for loan losses | $ 12,974 | $ 30,677 | $ 36,951 | $ 32,799 |
Noninterest income | 3,076 | 3,093 | 11,624 | 11,376 |
Net income | $ 3,599 | $ 2,418 | $ 9,645 | $ 7,820 |
Basic | $ 0.41 | $ 0.26 | $ 1.13 | $ 0.88 |
Diluted | $ 0.33 | $ 0.22 | $ 0.88 | $ 0.69 |
Merger - Schedule of Recognized
Merger - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Mar. 06, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Net assets acquired: | |||
Goodwill | $ 27,095 | $ 21,720 | |
TCNB Financial Corp [Member] | |||
Business Acquisition [Line Items] | |||
Total purchase price | $ 17,226 | ||
Net assets acquired: | |||
Cash and short-term investments | 18,152 | ||
Loans, net | 76,444 | ||
Other securities | 716 | ||
Premises and equipment | 1,738 | ||
Accrued interest receivable | 194 | ||
Core deposit intangible | 1,009 | ||
Other assets | 472 | ||
Noninterest-bearing deposits | (18,263) | ||
Interest-bearing deposits | (68,606) | ||
Other liabilities | (5) | ||
Net assets acquired | 11,851 | ||
Goodwill | $ 5,375 |
Securities - Available for Sale
Securities - Available for Sale Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 192,915 | $ 192,252 |
Gross Unrealized Gains | 5,970 | 6,262 |
Gross Unrealized Losses | (230) | (609) |
Total securities available for sale, Fair Value | 198,655 | 197,905 |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 39,271 | 42,910 |
Gross Unrealized Gains | 234 | 115 |
Gross Unrealized Losses | (13) | (123) |
Total securities available for sale, Fair Value | 39,492 | 42,902 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 87,971 | 83,215 |
Gross Unrealized Gains | 4,551 | 5,112 |
Gross Unrealized Losses | (143) | (306) |
Total securities available for sale, Fair Value | 92,379 | 88,021 |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 65,192 | 65,646 |
Gross Unrealized Gains | 1,079 | 976 |
Gross Unrealized Losses | (74) | (180) |
Total securities available for sale, Fair Value | 66,197 | 66,442 |
Total Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 192,434 | 191,771 |
Gross Unrealized Gains | 5,864 | 6,203 |
Gross Unrealized Losses | (230) | (609) |
Total securities available for sale, Fair Value | 198,068 | 197,365 |
Equity Securities in Financial Institutions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 481 | 481 |
Gross Unrealized Gains | 106 | 59 |
Total securities available for sale, Fair Value | $ 587 | $ 540 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 4,716 | |
Due after one year through five years, Amortized Cost | 26,519 | |
Due after five years through ten years,Amortized Cost | 30,616 | |
Due after ten years, Amortized Cost | 65,391 | |
Mortgage-backed securities, Amortized Cost | 65,192 | |
Equity securities, Amortized Cost | 481 | |
Amortized Cost | 192,915 | $ 192,252 |
Due in one year or less, Fair Value | 4,731 | |
Due after one year through five years, Fair Value | 26,734 | |
Due after five years through ten years, Fair Value | 32,110 | |
Due after ten years, Fair Value | 68,296 | |
Mortgage-backed securities, Fair Value | 66,197 | |
Equity securities, Fair Value | 587 | |
Total securities available for sale, Fair Value | $ 198,655 | $ 197,905 |
Securities - Proceeds from Sale
Securities - Proceeds from Sales of Securities, Gross Realized Gains and Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Amortized Cost and Fair Value Debt Securities [Abstract] | ||||
Sale proceeds | $ 18,088 | |||
Gross realized gains | 113 | |||
Gross realized losses | $ 0 | $ 0 | $ 0 | 0 |
Gains (losses) from securities called or settled by the issuer | $ (5) | $ 1 | $ (5) | $ 1 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | Sep. 30, 2015USD ($)Security | Dec. 31, 2014USD ($) |
Amortized Cost and Fair Value Debt Securities [Abstract] | ||
Carrying value of pledged securities | $ 148,557 | $ 137,898 |
Number of securities in portfolio with unrealized losses | Security | 30 |
Securities - Securities with Un
Securities - Securities with Unrealized Losses Not Recognized in Income (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | $ 16,059 | $ 20,806 |
12 Months or less, Unrealized Loss | (130) | (57) |
More than 12 months, Fair Value | 10,307 | 29,027 |
More than 12 months, Unrealized Loss | (100) | (552) |
Total Fair Value | 26,366 | 49,833 |
Total Unrealized Loss | (230) | (609) |
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 | 2,037 | 7,664 |
12 Months or less, Unrealized Loss | (17) | |
More than 12 months, Fair Value | 1,192 | 11,888 |
More than 12 months, Unrealized Loss | (13) | (106) |
Total Fair Value | 3,229 | 19,552 |
Total Unrealized Loss | (13) | (123) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 7,866 | 853 |
12 Months or less, Unrealized Loss | (93) | (11) |
More than 12 months, Fair Value | 1,466 | 5,647 |
More than 12 months, Unrealized Loss | (50) | (295) |
Total Fair Value | 9,332 | 6,500 |
Total Unrealized Loss | (143) | (306) |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 6,156 | 12,289 |
12 Months or less, Unrealized Loss | (37) | (29) |
More than 12 months, Fair Value | 7,649 | 11,492 |
More than 12 months, Unrealized Loss | (37) | (151) |
Total Fair Value | 13,805 | 23,781 |
Total Unrealized Loss | $ (74) | $ (180) |
Loans - Loan balances (Detail)
Loans - Loan balances (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Mar. 06, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 1,000,275 | $ 914,857 | |
Allowance for loan losses | (14,760) | (14,268) | |
Net loans | 985,515 | 900,589 | |
Commercial and Agriculture [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 129,119 | 114,186 | |
Commercial Real Estate Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 160,457 | 143,014 | |
Commercial Real Estate Non Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 340,702 | 308,666 | |
Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 284,899 | 268,510 | |
Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 67,461 | 65,452 | |
Consumer and Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 17,637 | $ 15,029 | |
TCNB Financial Corp [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Net loans | $ 76,444 | ||
TCNB Financial Corp [Member] | Commercial and Agriculture [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 13,799 | ||
TCNB Financial Corp [Member] | Commercial Real Estate Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 23,029 | ||
TCNB Financial Corp [Member] | Commercial Real Estate Non Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 13,808 | ||
TCNB Financial Corp [Member] | Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 17,541 | ||
TCNB Financial Corp [Member] | Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 3,863 | ||
TCNB Financial Corp [Member] | Consumer and Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 4,404 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Receivables [Abstract] | ||
Deferred loan fees | $ 63 | $ 237 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||
Sep. 30, 2015USD ($)SecurityLoan | Sep. 30, 2014SecurityLoan | Jun. 30, 2015 | Sep. 30, 2015USD ($)SecurityLoan | Sep. 30, 2014SecurityLoan | Dec. 31, 2014USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Period for calculating Loss migration rates of portfolio segments | 3 years | |||||
Allowance for loan losses | $ 14,760 | $ 14,760 | $ 14,268 | |||
Allowance for loan losses look back period | 3 years | 2 years | ||||
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 | |||||
Number of days reaching where loans are considered for nonaccrual status | 90 days | |||||
Conditions where loans are considered for nonaccrual status | A loan may be returned to accruing status only if one of three conditions are met the loan is well-secured and none of the principal and interest has been past due for a minimum of 90 days; the loan is a TDR and has made a minimum of six months payments; or the principal and interest payments are reasonably assured and a sustained period of performance has occurred, generally six months. | |||||
Defaulted loans | SecurityLoan | 0 | 0 | 0 | 0 | ||
Impaired loans | Greater than $500 | |||||
Foreclosed assets | $ 494 | $ 494 | 560 | |||
Scenario, Previously Reported [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Period for calculating Loss migration rates of portfolio segments | 2 years | |||||
Purchased Automobile Loans Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Period for calculating Loss migration rates of portfolio segments | 2 years | |||||
Commercial and Agriculture [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Decreases allowance for loans | $ (625) | |||||
Residential Mortgage [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Foreclosed assets | 494 | 494 | ||||
Residential mortgages in process of foreclosure | 669 | 669 | ||||
TDRs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for loan losses | $ 184 | $ 184 | $ 895 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in the Allowance for Loan Losses and Loan Balances Outstanding (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Allowance for loan losses: | ||||
Beginning balance | $ 14,707 | $ 15,395 | $ 14,268 | $ 16,528 |
Charge-offs | (634) | (456) | (1,524) | (3,440) |
Recoveries | 287 | 506 | 816 | 857 |
Provision | 400 | 1,200 | 1,500 | |
Ending Balance | 14,760 | 15,445 | 14,760 | 15,445 |
Commercial and Agriculture [Member] | ||||
Allowance for loan losses: | ||||
Beginning balance | 1,395 | 2,067 | 1,822 | 2,841 |
Charge-offs | (187) | (13) | (187) | (326) |
Recoveries | 127 | 143 | 157 | 238 |
Provision | 52 | (592) | (405) | (1,148) |
Ending Balance | 1,387 | 1,605 | 1,387 | 1,605 |
Commercial Real Estate Owner Occupied [Member] | ||||
Allowance for loan losses: | ||||
Beginning balance | 3,383 | 3,135 | 2,580 | 3,263 |
Charge-offs | (164) | (146) | (363) | (1,615) |
Recoveries | 13 | 241 | 223 | 316 |
Provision | (286) | (364) | 506 | 902 |
Ending Balance | 2,946 | 2,866 | 2,946 | 2,866 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Allowance for loan losses: | ||||
Beginning balance | 5,427 | 4,853 | 4,798 | 4,296 |
Charge-offs | (18) | (81) | (105) | |
Recoveries | 14 | 10 | 105 | 34 |
Provision | (89) | 115 | 512 | 753 |
Ending Balance | 5,334 | 4,978 | 5,334 | 4,978 |
Residential Real Estate [Member] | ||||
Allowance for loan losses: | ||||
Beginning balance | 3,470 | 4,439 | 3,747 | 5,224 |
Charge-offs | (237) | (275) | (779) | (1,329) |
Recoveries | 124 | 95 | 289 | 216 |
Provision | 864 | 53 | 964 | 201 |
Ending Balance | 4,221 | 4,312 | 4,221 | 4,312 |
Real Estate Construction [Member] | ||||
Allowance for loan losses: | ||||
Beginning balance | 434 | 287 | 428 | 184 |
Recoveries | 1 | 2 | 4 | 5 |
Provision | (7) | 76 | (4) | 176 |
Ending Balance | 428 | 365 | 428 | 365 |
Consumer and Other [Member] | ||||
Allowance for loan losses: | ||||
Beginning balance | 190 | 196 | 196 | 214 |
Charge-offs | (28) | (22) | (114) | (65) |
Recoveries | 8 | 15 | 38 | 48 |
Provision | 195 | 26 | 245 | 18 |
Ending Balance | 365 | 215 | 365 | 215 |
Unallocated [Member] | ||||
Allowance for loan losses: | ||||
Beginning balance | 408 | 418 | 697 | 506 |
Provision | (329) | 686 | (618) | 598 |
Ending Balance | $ 79 | $ 1,104 | $ 79 | $ 1,104 |
Allowance for Loan Losses - End
Allowance for Loan Losses - Ending Allocation of Allowance for Loan Losses and Loan Balances Outstanding (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Individually evaluated for impairment | $ 184 | $ 1,023 | ||||
Collectively evaluated for impairment | 14,445 | 13,245 | ||||
Ending balance | 14,760 | $ 14,707 | 14,268 | $ 15,445 | $ 15,395 | $ 16,528 |
Individually evaluated for impairment | 7,098 | 11,149 | ||||
Collectively evaluated for impairment | 992,750 | 903,708 | ||||
Ending balance | 1,000,275 | 914,857 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans acquired with credit deterioration | 131 | |||||
Loan balance of loans acquired with credit deterioration | 427 | |||||
Commercial and Agriculture [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Individually evaluated for impairment | 16 | 641 | ||||
Collectively evaluated for impairment | 1,371 | 1,181 | ||||
Ending balance | 1,387 | 1,395 | 1,822 | 1,605 | 2,067 | 2,841 |
Individually evaluated for impairment | 894 | 2,304 | ||||
Collectively evaluated for impairment | 128,209 | 111,882 | ||||
Ending balance | 129,119 | 114,186 | ||||
Commercial and Agriculture [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan balance of loans acquired with credit deterioration | 16 | |||||
Commercial Real Estate Owner Occupied [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Individually evaluated for impairment | 4 | 57 | ||||
Collectively evaluated for impairment | 2,942 | 2,523 | ||||
Ending balance | 2,946 | 3,383 | 2,580 | 2,866 | 3,135 | 3,263 |
Individually evaluated for impairment | 2,626 | 3,557 | ||||
Collectively evaluated for impairment | 157,801 | 139,457 | ||||
Ending balance | 160,457 | 143,014 | ||||
Commercial Real Estate Owner Occupied [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan balance of loans acquired with credit deterioration | 30 | |||||
Commercial Real Estate Non Owner Occupied [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Individually evaluated for impairment | 20 | |||||
Collectively evaluated for impairment | 5,334 | 4,778 | ||||
Ending balance | 5,334 | 5,427 | 4,798 | 4,978 | 4,853 | 4,296 |
Individually evaluated for impairment | 1,828 | 2,175 | ||||
Collectively evaluated for impairment | 338,874 | 306,491 | ||||
Ending balance | 340,702 | 308,666 | ||||
Residential Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Individually evaluated for impairment | 164 | 305 | ||||
Collectively evaluated for impairment | 3,926 | 3,442 | ||||
Ending balance | 4,221 | 3,470 | 3,747 | 4,312 | 4,439 | 5,224 |
Individually evaluated for impairment | 1,746 | 3,108 | ||||
Collectively evaluated for impairment | 282,772 | 265,402 | ||||
Ending balance | 284,899 | 268,510 | ||||
Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans acquired with credit deterioration | 131 | |||||
Loan balance of loans acquired with credit deterioration | 381 | |||||
Real Estate Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Collectively evaluated for impairment | 428 | 428 | ||||
Ending balance | 428 | 434 | 428 | 365 | 287 | 184 |
Collectively evaluated for impairment | 67,461 | 65,452 | ||||
Ending balance | 67,461 | 65,452 | ||||
Consumer and Other [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Collectively evaluated for impairment | 365 | 196 | ||||
Ending balance | 365 | 190 | 196 | 215 | 196 | 214 |
Individually evaluated for impairment | 4 | 5 | ||||
Collectively evaluated for impairment | 17,633 | 15,024 | ||||
Ending balance | 17,637 | 15,029 | ||||
Unallocated [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Collectively evaluated for impairment | 79 | 697 | ||||
Ending balance | $ 79 | $ 408 | $ 697 | $ 1,104 | $ 418 | $ 506 |
Allowance for Loan Losses - Cre
Allowance for Loan Losses - Credit Exposures by Internally Assigned Grades (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 819,354 | $ 741,548 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 776,133 | 700,407 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 18,841 | 15,959 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 24,380 | 25,182 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 129,119 | 114,186 |
Commercial and Agriculture [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 124,065 | 107,903 |
Commercial and Agriculture [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 862 | 3,446 |
Commercial and Agriculture [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 4,192 | 2,837 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 160,457 | 143,014 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 147,049 | 128,222 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 5,180 | 5,492 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 8,228 | 9,300 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 340,702 | 308,666 |
Commercial Real Estate Non Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 326,014 | 298,237 |
Commercial Real Estate Non Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 10,998 | 6,305 |
Commercial Real Estate Non Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 3,690 | 4,124 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 121,848 | 110,341 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 111,857 | 100,810 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,783 | 697 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 8,208 | 8,834 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 58,995 | 59,644 |
Real Estate Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 58,947 | 59,584 |
Real Estate Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 18 | 19 |
Real Estate Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 30 | 41 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 8,233 | 5,697 |
Consumer and Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 8,201 | 5,651 |
Consumer and Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 32 | $ 46 |
Allowance for Loan Losses - Per
Allowance for Loan Losses - Performing and Nonperforming Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | $ 180,921 | $ 173,309 |
Nonperforming | 0 | 0 |
Total | 180,921 | 173,309 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 163,051 | 158,169 |
Nonperforming | 0 | 0 |
Total | 163,051 | 158,169 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 8,466 | 5,808 |
Nonperforming | 0 | 0 |
Total | 8,466 | 5,808 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 9,404 | 9,332 |
Nonperforming | 0 | 0 |
Total | $ 9,404 | $ 9,332 |
Allowance for Loan Losses - Agi
Allowance for Loan Losses - Aging Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 8,754 | $ 9,594 |
Current | 991,521 | 905,263 |
Total Loans | 1,000,275 | 914,857 |
Past Due 90 Days and Accruing | 24 | |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,261 | 245 |
Current | 127,858 | 113,941 |
Total Loans | 129,119 | 114,186 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 591 | 1,530 |
Current | 159,866 | 141,484 |
Total Loans | 160,457 | 143,014 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,500 | 2,629 |
Current | 339,202 | 306,037 |
Total Loans | 340,702 | 308,666 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,671 | 4,991 |
Current | 280,228 | 263,519 |
Total Loans | 284,899 | 268,510 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 199 | 41 |
Current | 67,262 | 65,411 |
Total Loans | 67,461 | 65,452 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 532 | 158 |
Current | 17,105 | 14,871 |
Total Loans | 17,637 | 15,029 |
Past Due 90 Days and Accruing | 24 | |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,800 | 3,288 |
30-59 Days Past Due [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 34 | 58 |
30-59 Days Past Due [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 161 | 622 |
30-59 Days Past Due [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4 | 521 |
30-59 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 912 | 1,923 |
30-59 Days Past Due [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 199 | 33 |
30-59 Days Past Due [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 490 | 131 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,784 | 985 |
60-89 Days Past Due [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 941 | |
60-89 Days Past Due [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 37 | 251 |
60-89 Days Past Due [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5 | |
60-89 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,788 | 721 |
60-89 Days Past Due [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 18 | 8 |
90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,170 | 5,321 |
90 Days or Greater [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 286 | 187 |
90 Days or Greater [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 393 | 657 |
90 Days or Greater [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,496 | 2,103 |
90 Days or Greater [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,971 | 2,347 |
90 Days or Greater [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8 | |
90 Days or Greater [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 24 | $ 19 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 10,545 | $ 13,558 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 2,146 | 1,264 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 1,219 | 3,403 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 1,519 | 2,134 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 5,602 | 6,674 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 30 | 41 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 29 | $ 42 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2014USD ($)Contract | Sep. 30, 2015USD ($)Contract | Sep. 30, 2014USD ($)Contract | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 3 | 1 | 5 |
Pre-Modification Outstanding Recorded Investment | $ 97 | $ 41 | $ 245 |
Post-Modification Outstanding Recorded Investment | $ 97 | $ 41 | $ 245 |
Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 3 | 5 | |
Pre-Modification Outstanding Recorded Investment | $ 97 | $ 245 | |
Post-Modification Outstanding Recorded Investment | $ 97 | $ 245 | |
Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 41 | ||
Post-Modification Outstanding Recorded Investment | $ 41 |
Allowance for Loan Losses - Imp
Allowance for Loan Losses - Impaired Financing Receivables - Recorded Investment and Unpaid Principal Balances (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | $ 6,031 | $ 6,328 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 7,222 | 8,463 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 1,426 | 4,821 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 1,443 | 5,209 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 315 | 1,023 |
Impaired financing receivables, Recorded Investment, Total | 7,457 | 11,149 |
Impaired financing receivables, Unpaid Principal Balance, Total | 8,665 | 13,672 |
Impaired financing receivables, Related Allowance, Total | 315 | 1,023 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 871 | 1,377 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,036 | 1,504 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 23 | 927 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 23 | 1,056 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 16 | 641 |
Impaired financing receivables, Recorded Investment, Total | 894 | 2,304 |
Impaired financing receivables, Unpaid Principal Balance, Total | 1,059 | 2,560 |
Impaired financing receivables, Related Allowance, Total | 16 | 641 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 2,368 | 2,961 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 2,583 | 3,327 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 258 | 596 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 258 | 643 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 4 | 57 |
Impaired financing receivables, Recorded Investment, Total | 2,626 | 3,557 |
Impaired financing receivables, Unpaid Principal Balance, Total | 2,841 | 3,970 |
Impaired financing receivables, Related Allowance, Total | 4 | 57 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 1,828 | 92 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 2,094 | 140 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 2,083 | |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 2,287 | |
Impaired financing receivables, with an allowance recorded, Related Allowance | 20 | |
Impaired financing receivables, Recorded Investment, Total | 1,828 | 2,175 |
Impaired financing receivables, Unpaid Principal Balance, Total | 2,094 | 2,427 |
Impaired financing receivables, Related Allowance, Total | 20 | |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 960 | 1,893 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,505 | 3,487 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 1,145 | 1,215 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 1,162 | 1,223 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 295 | 305 |
Impaired financing receivables, Recorded Investment, Total | 2,105 | 3,108 |
Impaired financing receivables, Unpaid Principal Balance, Total | 2,667 | 4,710 |
Impaired financing receivables, Related Allowance, Total | 295 | 305 |
Consumer and Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 4 | 5 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 4 | 5 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, Recorded Investment, Total | 4 | 5 |
Impaired financing receivables, Unpaid Principal Balance, Total | $ 4 | $ 5 |
Allowance for Loan Losses - I60
Allowance for Loan Losses - Impaired Financing Receivables - Average Recorded Investment and Interest Income Recognized (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | ||||
Impaired financing receivables, Average Recorded Investment, Total | $ 8,665 | $ 14,056 | $ 9,849 | $ 16,362 |
Impaired financing receivables, Interest Income Recognized, Total | 109 | 116 | 381 | 563 |
Commercial and Agriculture [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired financing receivables, Average Recorded Investment, Total | 1,058 | 2,829 | 1,680 | 3,570 |
Impaired financing receivables, Interest Income Recognized, Total | 9 | 25 | 54 | 104 |
Commercial Real Estate Owner Occupied [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired financing receivables, Average Recorded Investment, Total | 3,263 | 5,115 | 3,507 | 6,313 |
Impaired financing receivables, Interest Income Recognized, Total | 39 | 21 | 168 | 208 |
Commercial Real Estate Non Owner Occupied [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired financing receivables, Average Recorded Investment, Total | 1,870 | 2,770 | 1,997 | 2,913 |
Impaired financing receivables, Interest Income Recognized, Total | 12 | (4) | 31 | 31 |
Residential Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired financing receivables, Average Recorded Investment, Total | 2,450 | 3,336 | 2,640 | 3,559 |
Impaired financing receivables, Interest Income Recognized, Total | 49 | 74 | 128 | 220 |
Real Estate Construction [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired financing receivables, Average Recorded Investment, Total | 20 | 20 | ||
Consumer and Other [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Impaired financing receivables, Average Recorded Investment, Total | $ 4 | $ 6 | $ 5 | $ 7 |
Other Comprehensive Income - Ch
Other Comprehensive Income - Changes in Each Component of Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | $ (678) | $ 943 | $ (47) | $ (4,247) |
Other comprehensive income before reclassifications | 780 | 406 | 57 | 5,582 |
Amounts reclassified from accumulated other comprehensive income (loss) | 46 | 57 | 138 | 71 |
Total other comprehensive income | 826 | 463 | 195 | 5,653 |
Ending balance | 148 | 1,406 | 148 | 1,406 |
Unrealized Gains and Losses on Available-for-Sale Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | 3,007 | 2,777 | 3,730 | 341 |
Other comprehensive income before reclassifications | 780 | 406 | 57 | 2,916 |
Amounts reclassified from accumulated other comprehensive income (loss) | (1) | (75) | ||
Total other comprehensive income | 780 | 405 | 57 | 2,841 |
Ending balance | 3,787 | 3,182 | 3,787 | 3,182 |
Defined Benefit Pension Items [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning balance | (3,685) | (1,834) | (3,777) | (4,588) |
Other comprehensive income before reclassifications | 2,666 | |||
Amounts reclassified from accumulated other comprehensive income (loss) | 46 | 58 | 138 | 146 |
Total other comprehensive income | 46 | 58 | 138 | 2,812 |
Ending balance | $ (3,639) | $ (1,776) | $ (3,639) | $ (1,776) |
Other Comprehensive Income - Am
Other Comprehensive Income - Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Income tax expense | $ (1,159) | $ (729) | $ (3,414) | $ (2,306) |
Net income available to common shareholders | 2,862 | 1,900 | 8,360 | 5,790 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net income available to common shareholders | (46) | (57) | (138) | (71) |
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 | 114 | ||
Income tax expense | (39) | |||
Net income available to common shareholders | 1 | 75 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Defined Benefit Pension Items [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Actuarial gains/(losses) | (70) | (89) | (210) | (222) |
Income tax expense | 24 | 31 | 72 | 76 |
Net income available to common shareholders | $ (46) | $ (58) | $ (138) | $ (146) |
Goodwill and Intangible Asset63
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Mar. 06, 2015 | Dec. 31, 2014 | |
Goodwill And Intangible Assets [Line Items] | ||||||
Goodwill | $ 27,095 | $ 27,095 | $ 21,720 | |||
Amortization of intangible assets | $ 189 | $ 201 | 522 | $ 604 | ||
TCNB Financial Corp [Member] | ||||||
Goodwill And Intangible Assets [Line Items] | ||||||
Goodwill | $ 5,375 | |||||
Goodwill increased during period | $ 5,375 |
Goodwill and Intangible Asset64
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets (Detail) - Core Deposit and Other Intangibles [Member] - USD ($) $ in Thousands | Sep. 30, 2015 | Sep. 30, 2014 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 7,274 | $ 9,378 |
Accumulated Amortization | $ 5,264 | $ 7,689 |
Goodwill and Intangible Asset65
Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense (Detail) $ in Thousands | Sep. 30, 2015USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,015 | $ 188 |
2,016 | 699 |
2,017 | 587 |
Thereafter | 536 |
Estimated amortization expense | $ 2,010 |
Short-Term Borrowings - Summary
Short-Term Borrowings - Summary of Federal Funds Purchased and Other Short-term Borrowings (Detail) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Federal Funds Purchased [Member] | ||
Short-term Debt [Line Items] | ||
Maximum indebtedness | $ 25,000,000 | |
Average balance | $ 93,000 | $ 41,000 |
Average rate paid | 0.54% | 0.54% |
Interest rate on balance | 0.00% | |
Short Term Borrowings [Member] | ||
Short-term Debt [Line Items] | ||
Outstanding balance | $ 54,700,000 | $ 42,700,000 |
Maximum indebtedness | 64,700,000 | 42,700,000 |
Average balance | $ 21,938,000 | $ 1,951,000 |
Average rate paid | 0.18% | 0.19% |
Interest rate on balance | 0.19% | 0.14% |
Short-Term Borrowings - Summa67
Short-Term Borrowings - Summary of Securities Pledged as Collateral Under Repurchase Agreements (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Offsetting Liabilities [Line Items] | ||
Gross amount of recognized liabilities for repurchase agreements | $ 20,887 | $ 21,613 |
Gross amount of recognized liabilities for repurchase agreements | 20,887 | 21,613 |
Amounts related to agreements not included in offsetting disclosures above | 0 | 0 |
U.S.Treasury Securities [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of recognized liabilities for repurchase agreements | 813 | 876 |
Gross amount of recognized liabilities for repurchase agreements | 813 | 876 |
Obligations of U.S. Government Agencies [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of recognized liabilities for repurchase agreements | 20,074 | 20,737 |
Gross amount of recognized liabilities for repurchase agreements | $ 20,074 | $ 20,737 |
Earnings per Common Share - Com
Earnings per Common Share - Computation of Basic and Diluted Earnings per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Basic | ||||
Net income | $ 3,253 | $ 2,306 | $ 9,546 | $ 7,257 |
Preferred stock dividends | 391 | 406 | 1,186 | 1,467 |
Net income available to common shareholders - basic | $ 2,862 | $ 1,900 | $ 8,360 | $ 5,790 |
Weighted average common shares outstanding - basic | 7,843,578 | 7,707,917 | 7,815,222 | 7,707,917 |
Basic earnings per common share | $ 0.36 | $ 0.25 | $ 1.07 | $ 0.75 |
Diluted | ||||
Net income available to common shareholders - basic | $ 2,862 | $ 1,900 | $ 8,360 | $ 5,790 |
Preferred stock dividends on convertible preferred stock | 391 | 406 | 1,186 | 1,201 |
Net income available to common shareholders - diluted | $ 3,253 | $ 2,306 | $ 9,546 | $ 6,991 |
Weighted average common shares outstanding for basic earnings per common share basic | 7,843,578 | 7,707,917 | 7,815,222 | 7,707,917 |
Add: Dilutive effects of convertible preferred shares | 3,078,245 | 3,196,931 | 3,101,937 | 3,196,931 |
Average shares and dilutive potential common shares outstanding - diluted | 10,921,823 | 10,904,848 | 10,917,159 | 10,904,848 |
Diluted earnings per common share | $ 0.30 | $ 0.21 | $ 0.87 | $ 0.64 |
Earnings per Common Share - Add
Earnings per Common Share - Additional Information (Detail) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Earnings Per Share [Abstract] | ||||
Dilutive shares related to convertible preferred stock | 3,078,245 | 3,196,931 | 3,101,937 | 3,196,931 |
Unvested restricted shares of outstanding | 16,983 | 0 | 16,983 | 0 |
Anti dilutive shares excluded from computation of earning price per share | $ 10.82 | |||
Number of stock option outstanding | 0 | 0 | 0 | 0 |
Commitments, Contingencies an70
Commitments, Contingencies and Off-Balance-Sheet Risk - Contractual Amount of Financial Instruments with Off-Balance-Sheet Risk (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | $ 6,039 | $ 9,609 |
Variable Rate | 222,866 | 183,847 |
Lines of Credit and Construction Loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 5,835 | 9,405 |
Variable Rate | 196,931 | 160,718 |
Overdraft Protection [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 4 | 4 |
Variable Rate | 25,208 | 22,122 |
Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 200 | 200 |
Variable Rate | $ 727 | $ 1,007 |
Commitments, Contingencies an71
Commitments, Contingencies and Off-Balance-Sheet Risk - Additional Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
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 | $ 2,980 | $ 3,259 |
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% | 8.75% |
Pension Information - Additiona
Pension Information - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ||
Additional benefits under pension plan | $ 0 | |
Expected future employer contributions | $ 700,000 | |
Employer contributions | $ 1,515,000 |
Pension Information - Component
Pension Information - Components of Net Periodic Pension Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ||||
Service cost | $ 94 | $ 264 | ||
Interest cost | $ 156 | 201 | $ 468 | 581 |
Expected return on plan assets | (283) | (312) | (848) | (903) |
Other components | 70 | 89 | 210 | 222 |
Net periodic pension cost (benefit) | $ (57) | $ 72 | $ (170) | $ 164 |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 17, 2015 | Sep. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Options granted | 16,983 | ||||
Share based compensation expense | $ 18 | $ 43 | |||
Expected future compensation expense | $ 141 | $ 141 | |||
Expected future compensation expense, restricted shares vesting period | 2 years 3 months | ||||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Options granted | 16,983 | ||||
Restricted shares vesting service period | 3 years | ||||
2014 Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Maximum number of shares under stock option plan authorized for issuance | 375,000 | ||||
Number of shares available for grant under stock option plan | 358,017 | 358,017 | |||
2014 Incentive Plan [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Options granted | 0 | 0 |
Equity Incentive Plan - Summary
Equity Incentive Plan - Summary of Company's Restricted Stock (Detail) - $ / shares | 3 Months Ended | 9 Months Ended |
Sep. 30, 2015 | Sep. 30, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options Outstanding, Weighted Average Exercise Price, and Additional Disclosures [Abstract] | ||
Number of Restricted Shares, Nonvested at beginning of period | 16,983 | |
Number of Restricted Shares, Granted | 16,983 | |
Number of Restricted Shares, Vested | 0 | 0 |
Number of Restricted Shares, Forfeited | 0 | 0 |
Number of Restricted Shares, Nonvested at June 30, 2015 | 16,983 | 16,983 |
Weighted Average Grant Date Fair Value, Nonvested at beginning of period | $ 10.82 | |
Weighted Average Grant Date Fair Value, Granted | $ 10.82 | |
Weighted Average Grant Date Fair Value, Vested | 0 | 0 |
Weighted Average Grant Date Fair Value, Forfeited | 0 | 0 |
Weighted Average Grant Date Fair Value, Nonvested at June 30, 2015 | $ 10.82 | $ 10.82 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets Measured at Fair Value (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 7,142 | $ 10,126 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 494 | 560 |
(Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of swap asset | 2,379 | 1,721 |
Fair value of swap liability | 2,379 | 1,721 |
(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 | 2,379 | 1,721 |
Fair value of swap liability | 2,379 | 1,721 |
(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 | 39,492 | 42,902 |
(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 | 92,379 | 88,021 |
(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 | 66,197 | 66,442 |
(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 | 587 | 540 |
(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 | 7,142 | 10,126 |
(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 | $ 494 | $ 560 |
Fair Value Measurement - Quanti
Fair Value Measurement - Quantitative Information about Level 3 Fair Value Measurements (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Estimate | $ 7,142 | $ 10,126 |
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 | $ 494 | $ 560 |
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% | 8.00% |
Maximum [Member] | Other Real Estate Owned [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Appraisal adjustments | 30.00% | 30.00% |
Fair Value Assumptions, Liquidation expense | 10.00% | 10.00% |
Minimum [Member] | Impaired Loans [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Appraisal adjustments | 10.00% | 10.00% |
Fair Value Assumptions, Liquidation expense | 0.00% | 0.00% |
Fair Value Assumptions, Holding period | 0 months | 0 months |
Minimum [Member] | Impaired Loans [Member] | Discounted Cash Flows [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Discount rates | 3.80% | 3.80% |
Minimum [Member] | Other Real Estate Owned [Member] | Appraisal of Collateral [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Assumptions, Appraisal adjustments | 10.00% | 10.00% |
Fair Value Assumptions, Liquidation expense | 0.00% | 0.00% |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Amount and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Financial Assets: | ||||
Cash and due from financial institutions | $ 33,619 | $ 29,858 | $ 24,128 | $ 34,186 |
Securities available for sale | 198,655 | 197,905 | ||
Other securities | 13,324 | 12,586 | ||
Loans, net of allowance for loan losses | 985,515 | 900,589 | ||
Bank owned life insurance | 19,987 | 19,637 | ||
Financial Liabilities: | ||||
Time deposits | 1,055,959 | 968,918 | ||
Securities sold under agreement to repurchase | 20,887 | 21,613 | ||
Carrying Amount [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 33,619 | 29,858 | ||
Securities available for sale | 198,655 | 197,905 | ||
Other securities | 13,324 | 12,586 | ||
Loans, held for sale | 1,223 | 2,410 | ||
Loans, net of allowance for loan losses | 985,515 | 900,589 | ||
Bank owned life insurance | 19,987 | 19,637 | ||
Accrued interest receivable | 4,880 | 3,852 | ||
Fair value swap asset | 2,379 | 1,721 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 839,822 | 748,948 | ||
Time deposits | 216,137 | 219,970 | ||
Short-term FHLB advances | 54,700 | 42,700 | ||
Long-term FHLB advances | 17,500 | 22,500 | ||
Securities sold under agreement to repurchase | 20,887 | 21,613 | ||
Subordinated debentures | 29,427 | 29,427 | ||
Accrued interest payable | 152 | 126 | ||
Fair value swap liability | 2,379 | 1,721 | ||
Total Fair Value [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 33,619 | 29,858 | ||
Securities available for sale | 198,655 | 197,905 | ||
Other securities | 13,324 | 12,586 | ||
Loans, held for sale | 1,223 | 2,410 | ||
Loans, net of allowance for loan losses | 991,870 | 908,118 | ||
Bank owned life insurance | 19,987 | 19,637 | ||
Accrued interest receivable | 4,880 | 3,852 | ||
Fair value swap asset | 2,379 | 1,721 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 839,822 | 748,948 | ||
Time deposits | 216,839 | 221,263 | ||
Short-term FHLB advances | 54,700 | 42,700 | ||
Long-term FHLB advances | 17,644 | 22,699 | ||
Securities sold under agreement to repurchase | 20,887 | 21,613 | ||
Subordinated debentures | 24,949 | 24,688 | ||
Accrued interest payable | 152 | 126 | ||
Fair value swap liability | 2,379 | 1,721 | ||
(Level 1) [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 33,619 | 29,858 | ||
Other securities | 13,324 | 12,586 | ||
Loans, held for sale | 1,223 | 2,410 | ||
Bank owned life insurance | 19,987 | 19,637 | ||
Accrued interest receivable | 4,880 | 3,852 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 839,822 | 748,948 | ||
Short-term FHLB advances | 54,700 | 42,700 | ||
Securities sold under agreement to repurchase | 20,887 | 21,613 | ||
Accrued interest payable | 152 | 126 | ||
(Level 2) [Member] | ||||
Financial Assets: | ||||
Securities available for sale | 198,655 | 197,905 | ||
Fair value swap asset | 2,379 | 1,721 | ||
Financial Liabilities: | ||||
Fair value swap liability | 2,379 | 1,721 | ||
(Level 3) [Member] | ||||
Financial Assets: | ||||
Loans, net of allowance for loan losses | 991,870 | 908,118 | ||
Financial Liabilities: | ||||
Time deposits | 216,839 | 221,263 | ||
Long-term FHLB advances | 17,644 | 22,699 | ||
Subordinated debentures | $ 24,949 | $ 24,688 |
Preferred Shares - Additional i
Preferred Shares - Additional information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Feb. 15, 2014 | Dec. 19, 2013 | Sep. 30, 2015 | Dec. 31, 2014 |
Depositary Shares [Member] | ||||
Preferred Stock [Line Items] | ||||
Newly issued shares | 1,000,000 | |||
Percentage of ownership Interest | 2.50% | |||
Share issued price per share | $ 25 | |||
Gross proceeds from public offering | $ 25,000 | |||
Series B Preferred Stock [Member] | ||||
Preferred Stock [Line Items] | ||||
Preferred shares, liquidation preference | $ 1,000 | $ 1,000 | $ 1,000 | |
Dividend on preferred stock | 6.50% | |||
Series A Preferred Stock [Member] | ||||
Preferred Stock [Line Items] | ||||
Aggregate purchase price of Preferred stock | $ 22,857 | |||
Preferred stock redemption date | Feb. 15, 2014 |
Derivative Hedging Instrument80
Derivative Hedging Instruments - Summary of Interest Rate Swap Transactions (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Net Exposure, Notional Amount | $ 0 | $ 0 |
Derivative Financial Instruments, Assets [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Net Exposure, Notional Amount | $ 30,802,000 | $ 29,060,000 |
Weighted Average Rate Received(Paid) | 5.41% | 5.47% |
Net Exposure, Impact of a 1 basis point change in interest rates | $ 18,000 | $ 19,000 |
Repricing Frequency | Monthly | |
Derivative Financial Instruments, Liabilities [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Net Exposure, Notional Amount | $ (30,802,000) | $ (29,060,000) |
Weighted Average Rate Received(Paid) | 5.41% | 5.47% |
Net Exposure, Impact of a 1 basis point change in interest rates | $ (18,000) | $ (19,000) |
Repricing Frequency | Monthly |