Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Feb. 29, 2016 | Jun. 30, 2015 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | civb | ||
Entity Registrant Name | CIVISTA BANCSHARES, INC. | ||
Entity Central Index Key | 944,745 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 7,846,308 | ||
Entity Public Float | $ 79,868,467 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and due from financial institutions | $ 35,561 | $ 29,858 |
Securities available for sale | 196,249 | 197,905 |
Loans held for sale | 2,698 | 2,410 |
Loans, net of allowance of $14,361 and $14,268 | 987,166 | 900,589 |
Other securities | 13,452 | 12,586 |
Premises and equipment, net | 16,944 | 14,400 |
Accrued interest receivable | 3,902 | 3,852 |
Goodwill | 27,095 | 21,720 |
Other intangible assets | 2,409 | 2,025 |
Bank owned life insurance | 20,104 | 19,637 |
Other assets | 9,461 | 8,209 |
Total assets | 1,315,041 | 1,213,191 |
Deposits | ||
Noninterest-bearing | 300,615 | 250,701 |
Interest-bearing | 751,418 | 718,217 |
Total deposits | 1,052,033 | 968,918 |
Federal Home Loan Bank advances | 71,200 | 65,200 |
Securities sold under agreements to repurchase | 25,040 | 21,613 |
Subordinated debentures | 29,427 | 29,427 |
Accrued expenses and other liabilities | 12,168 | 12,124 |
Total liabilities | 1,189,868 | 1,097,282 |
SHAREHOLDERS' EQUITY | ||
Common stock, no par value, 20,000,000 shares authorized, 8,591,542 shares issued at December 31, 2015 and 8,455,881 shares issued at December 31, 2014 | 115,330 | 114,365 |
Accumulated earnings (deficit) | 5,300 | (4,306) |
Treasury stock, 747,964 shares at cost | (17,235) | (17,235) |
Accumulated other comprehensive loss | (495) | (47) |
Total shareholders' equity | 125,173 | 115,909 |
Total liabilities and shareholders' equity | 1,315,041 | 1,213,191 |
Series B Preferred Stock [Member] | ||
SHAREHOLDERS' EQUITY | ||
Preferred stock, no par value, 200,000 shares authorized Series B Preferred stock, $1,000 liquidation preference, 24,072 shares issued at December 31, 2015 and 25,000 shares issued at December 31, 2014, net of issuance costs | $ 22,273 | $ 23,132 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Allowance for loan losses | $ 14,361 | $ 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 Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Interest and dividend income | |||
Loans, including fees | $ 44,784 | $ 40,032 | $ 38,776 |
Taxable securities | 3,232 | 3,443 | 3,763 |
Tax-exempt securities | 2,583 | 2,356 | 2,211 |
Federal funds sold and other | 102 | 139 | 131 |
Total interest and dividend income | 50,701 | 45,970 | 44,881 |
Interest expense | |||
Deposits | 2,087 | 2,292 | 2,788 |
Federal Home Loan Bank advances | 442 | 1,015 | 1,358 |
Subordinated debentures | 760 | 777 | 740 |
Securities sold under agreements to repurchase | 20 | 20 | 21 |
Total interest expense | 3,309 | 4,104 | 4,907 |
Net interest income | 47,392 | 41,866 | 39,974 |
Provision for loan losses | 1,200 | 1,500 | 1,100 |
Net interest income after provision for loan losses | 46,192 | 40,366 | 38,874 |
Noninterest income | |||
Service charges | 4,708 | 4,257 | 4,457 |
Net gain (loss) on sale of securities | (18) | 113 | 204 |
Net gain on sale of loans | 1,106 | 659 | 753 |
ATM fees | 1,986 | 1,850 | 1,740 |
Trust fees | 2,823 | 3,130 | 2,627 |
Bank owned life insurance | 467 | 492 | 555 |
Tax refund processing fees | 2,000 | 2,324 | 430 |
Computer center item processing fees | 267 | 260 | 248 |
Net gain on sale of other real estate owned | 199 | 44 | 120 |
Other | 740 | 745 | 928 |
Total noninterest income | 14,278 | 13,874 | 12,062 |
Noninterest expense | |||
Salaries, wages and benefits | 23,630 | 22,293 | 24,758 |
Net occupancy expense | 2,416 | 2,256 | 2,209 |
Equipment expense | 1,503 | 1,421 | 1,273 |
Contracted data processing | 1,821 | 1,560 | 1,327 |
FDIC Assessment | 864 | 905 | 1,008 |
State franchise tax | 847 | 888 | 1,130 |
Professional services | 2,461 | 1,855 | 1,677 |
Amortization of intangible assets | 711 | 769 | 846 |
ATM expense | 674 | 806 | 650 |
Marketing expense | 1,039 | 1,604 | 1,055 |
Repossession expense | 508 | 673 | 964 |
Other operating expenses | 6,470 | 6,520 | 6,487 |
Total noninterest expense | 42,944 | 41,550 | 43,384 |
Income before income taxes | 17,526 | 12,690 | 7,552 |
Income taxes | 4,781 | 3,162 | 1,373 |
Net income | 12,745 | 9,528 | 6,179 |
Preferred stock dividends | 1,577 | 1,873 | 1,159 |
Net income available to common shareholders | $ 11,168 | $ 7,655 | $ 5,020 |
Earnings per common share, basic | $ 1.43 | $ 0.99 | $ 0.65 |
Earnings per common share, diluted | $ 1.17 | $ 0.85 | $ 0.64 |
Consolidated Comprehensive Inco
Consolidated Comprehensive Income Statements - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 12,745 | $ 9,528 | $ 6,179 |
Other comprehensive income (loss): | |||
Unrealized holding gains (loss) on available for sale securities | (267) | 5,134 | (8,344) |
Tax effect | 91 | (1,745) | 2,836 |
Pension liability adjustment | (412) | 1,228 | 4,406 |
Tax effect | 140 | (417) | (1,498) |
Total other comprehensive income (loss) | (448) | 4,200 | (2,600) |
Comprehensive income | $ 12,297 | $ 13,728 | $ 3,579 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Preferred Shares [Member] | Common Shares [Member] | Accumulated (Deficit) Earnings [Member] | Treasury Shares [Member] | Accumulated Other Comprehensive Loss [Member] |
Balance at Dec. 31, 2012 | $ 103,980 | $ 23,184 | $ 114,365 | $ (14,687) | $ (17,235) | $ (1,647) |
Balance, shares at Dec. 31, 2012 | 23,184 | 7,707,917 | ||||
Net income | 6,179 | 6,179 | ||||
Other comprehensive income (loss) | (2,600) | (2,600) | ||||
Cash dividends ($0.15, $0.19 and $0.20 per share for the year 2013, 2014 and 2015 respectively) | (1,156) | (1,156) | ||||
Preferred stock dividends | (1,159) | (1,159) | ||||
Issuance of Series B preferred shares, net of issuance costs | 23,132 | $ 23,132 | ||||
Issuance of Series B preferred shares, net of issuance costs, shares | 25,000 | |||||
Balance at Dec. 31, 2013 | 128,376 | $ 46,316 | $ 114,365 | (10,823) | (17,235) | (4,247) |
Balance, shares at Dec. 31, 2013 | 48,184 | 7,707,917 | ||||
Net income | 9,528 | 9,528 | ||||
Other comprehensive income (loss) | 4,200 | 4,200 | ||||
Redemption of Series A preferred stock | (22,857) | $ (23,184) | 327 | |||
Redemption of Series A preferred stock, shares | (23,184) | |||||
Cash dividends ($0.15, $0.19 and $0.20 per share for the year 2013, 2014 and 2015 respectively) | (1,465) | (1,465) | ||||
Preferred stock dividends | (1,873) | (1,873) | ||||
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 | 12,745 | 12,745 | ||||
Other comprehensive income (loss) | (448) | (448) | ||||
Conversion of Series B preferred shares to common shares | $ (859) | $ 859 | ||||
Conversion of Series B preferred shares to common shares, shares | (928) | 118,678 | ||||
Stock-based compensation | 106 | $ 106 | ||||
Stock-based compensation, shares | 16,983 | |||||
Cash dividends ($0.15, $0.19 and $0.20 per share for the year 2013, 2014 and 2015 respectively) | (1,562) | (1,562) | ||||
Preferred stock dividends | (1,577) | (1,577) | ||||
Balance at Dec. 31, 2015 | $ 125,173 | $ 22,273 | $ 115,330 | $ 5,300 | $ (17,235) | $ (495) |
Balance, shares at Dec. 31, 2015 | 24,072 | 7,843,578 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash dividends per share | $ 0.20 | $ 0.19 | $ 0.15 |
Accumulated (Deficit) Earnings [Member] | |||
Cash dividends per share | $ 0.20 | $ 0.19 | $ 0.15 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities: | |||
Net income | $ 12,745 | $ 9,528 | $ 6,179 |
Adjustments to reconcile net income to net cash from operating activities | |||
Security amortization, net | 1,410 | 1,491 | 1,633 |
Depreciation | 1,193 | 1,176 | 1,334 |
Amortization of intangible assets | 711 | 769 | 846 |
Accretion of net deferred loan fees | (155) | (123) | (112) |
Net (gain) loss on sale of securities | 18 | (113) | (204) |
Provision for loan losses | 1,200 | 1,500 | 1,100 |
Loans originated for sale | (48,745) | (31,206) | (49,978) |
Proceeds from sale of loans | 49,637 | 29,893 | 52,166 |
Net gain on sale of loans | (1,180) | (659) | (753) |
Net loss on sale of manufactured home loans | 74 | ||
Net gain on sale of other real estate owned | (199) | (44) | (120) |
Gain on sale of fixed assets | (60) | (107) | |
Increase in cash surrender value of bank owned life insurance | (467) | (492) | (555) |
Decrease in prepaid FDIC Premium | 1,775 | ||
Share-based compensation | 106 | ||
Change in Accrued interest payable | (11) | (30) | (29) |
Accrued interest receivable | 144 | 29 | (172) |
Deferred taxes | (410) | 11 | 1,362 |
Other, net | (998) | 3,216 | (1,554) |
Net cash from operating activities | 15,073 | 14,886 | 12,811 |
Cash flows used for investing activities: | |||
Maturities and calls of securities, available-for-sale | 29,733 | 45,743 | 50,184 |
Sale of securities, available for sale | 18,088 | 8,686 | |
Purchases of securities, available-for-sale | (29,772) | (58,367) | (64,295) |
Redemption of Federal Reserve stock | 138 | 143 | |
Purchases of Federal Reserve stock | (288) | (171) | |
Redemption of FHLB stock | 3,009 | ||
Net cash from acquisition | 926 | ||
Net loan originations | (10,225) | (53,562) | (48,272) |
Loans purchased, installment | (4,774) | (4,382) | (1,898) |
Proceeds from sale of manufactured homes | 3,492 | ||
Proceeds from sale of OREO properties | 865 | 349 | 699 |
Premises and equipment purchases | (1,999) | (485) | (1,155) |
Proceeds from sale of premises and equipment | 1,282 | 118 | |
Net cash used for investing activities | (11,904) | (48,496) | (55,790) |
Cash flows from financing activities: | |||
Increase (decrease) in deposits | (3,754) | 26,443 | 16,086 |
Net change in short-term FHLB advances | 11,000 | 42,700 | |
Repayment of long-term FHLB advances | (5,000) | (30,226) | (2,535) |
Proceeds from long-term FHLB advances | 15,000 | ||
Increase in securities sold under repurchase agreements | 3,427 | 1,560 | (3,166) |
Repayment of series A preferred stock | (22,857) | ||
Cash dividends paid | (3,139) | (3,338) | (2,315) |
Net proceeds from issuance of preferred stock | 23,132 | ||
Net cash (used for) from financing activities | 2,534 | 29,282 | 31,202 |
Increase (decrease) in cash and due from financial institutions | 5,703 | (4,328) | (11,777) |
Cash and due from financial institutions at beginning of year | 29,858 | 34,186 | 45,963 |
Cash and due from financial institutions at end of year | 35,561 | 29,858 | 34,186 |
Supplemental disclosures of cash flow information: | |||
Interest paid | 3,315 | 4,134 | 4,936 |
Income taxes paid | 3,650 | 1,745 | 1,010 |
Transfer of loans from portfolio to other real estate owned | 222 | $ 691 | 280 |
Transfer of loans from portfolio to held for sale | $ 4,756 | ||
Conversion of preferred stock to common stock | 859 | ||
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 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following is a summary of the accounting policies adopted by Civista Bancshares, Inc., which have a significant effect on the financial statements. Nature of Operations and Principles of Consolidation The Company provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Summit, Huron, Ottawa, Madison, Montgomery and Richland. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial, and installment loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, our customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area. Other financial instruments that potentially represent concentrations of credit risk include deposit accounts in other financial institutions. FCIA 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 for the years ended December 31, 2015 and 2014. WSP was formed to hold repossessed assets of CBI’s subsidiaries. WSP revenue was less than 1% of total revenue for the years ended December 31, 2015 and 2014. FCRS was formed in 2012 and remained inactive for the periods presented. Use of Estimates Cash Flows Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold using the specific identification method. The recent guidance specifies that if (a) a company does not have the intent to sell a debt security prior to recovery and (b) it is more-likely-than-not that it will not have to sell the debt security prior to recovery, the security would not be considered other-than-temporarily impaired unless there is a credit loss. When an entity does not intend to sell the security, and it is more-likely-than-not the entity will not have to sell the security before recovery of its cost basis, it will recognize the credit component of other-than-temporary impairment of a debt security in earnings and the remaining portion in other comprehensive income. For held-to-maturity debt securities, the amount of other-than-temporary impairment recorded in other comprehensive income for the non-credit portion of a previous other-than-temporary impairment should be amortized prospectively over the remaining life of the security on the basis of the timing of future estimated cash flows of the security. For available-for-sale debt securities that management has no intent to sell and believes that it more-likely-than-not will not be required to sell prior to recovery, only the credit loss component of the impairment is recognized in earnings, while the non-credit loss is recognized in accumulated other comprehensive income. The credit loss component recognized in earnings is identified as the amount of principal cash flows not expected to be received over the remaining term of the security as projected based on cash flow projections. Other securities which include FHLB stock, Federal Reserve Bank (“FRB”) stock, Bankers’ Bancshares Inc. (“BB”) stock, and Norwalk Community Development Corp (“NCDC”) stock are carried at cost. Loans Held for Sale: Loans: Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the credit is well-secured and in process of collection. Interest income on consumer loans is discontinued when management determines future collection is unlikely. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued, but not received, for loans placed on nonaccrual, is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Purchased Loans: Purchased loans are accounted for individually or aggregated into pools of loans based on common risk characteristics (e.g., credit score, loan type, and date of origination). The Company estimates the amount and timing of expected cash flows for each purchased loan or pool, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan or pool (accretable yield). The excess of the loan’s, or pool’s, contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). Over the life of the loan or pool, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected future cash flows is greater than the carrying amount, the excess is recognized as part of future interest income. Allowance for Loan Losses: All commercial, commercial real estate and farm real estate loans are monitored on a regular basis with a detailed loan review completed for all loan relationships greater than $500. All commercial, commercial real estate and farm real estate loans that are 90 days past due or in nonaccrual status, are analyzed to determine if they are “impaired”, which means that it is probable that all amounts will not be collected according to the contractual terms of the loan agreement. All loans that are delinquent 90 days are classified as substandard and placed on nonaccrual status unless they are well-secured and in the process of collection. The remaining loans are evaluated and segmented with loans with similar risk characteristics. The Company allocates reserves based on risk categories and portfolio segments described below, which conform to the Company’s asset classification policy. In reviewing risk within Civista’s loan portfolio, management has identified specific segments to categorize loan portfolio risk: (i) Commercial & Agriculture loans; (ii) Commercial Real Estate – Owner Occupied loans; (iii) Commercial Real Estate – Non-Owner Occupied loans; (iv) Residential Real Estate loans; (v) Real Estate Construction loans; (vi) Farm Real Estate loans; and (vii) Consumer and Other loans. Additional information related to economic factors can be found in Note 5. Loan Charge-off Policies: Troubled Debt Restructurings: Other Real Estate: Premises and Equipment: Federal Home Loan Bank Stock a b c d . Federal Reserve Bank Stock Bank Owned Life Insurance (BOLI) Goodwill and Other Intangible Assets: Other intangible assets consist of core deposit intangibles arising from whole bank and branch acquisitions. These intangible assets are measured at fair value and then amortized on an accelerated method over their estimated useful lives, which range from five to twelve years. Servicing Rights Long-term Assets Repurchase Agreements Loan Commitments and Related Financial Instruments: Income Taxes The Company prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Stock-Based Compensation Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. Retirement Plans Earnings per Common Share Comprehensive Income Loss Contingencies Restrictions on Cash: Dividend Restriction Fair Value of Financial Instruments Operating Segments 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) and interim periods within those fiscal years. For all other entities, the amendments in this Update are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. An entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. This Update is not expected to have a significant impact on the Company’s financial statements. 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 August 2015, the FASB issued ASU 2015-14, Revenue from Contract with Customers In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805). In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For all other entities including not-for-profit entities and employee benefit plans within the scope of Topics 960 through 965 on plan accounting, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. All entities that are not public business entities may adopt the amendments in this Update earlier as of the fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations. |
Merger
Merger | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Merger | NOTE 2 - 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. Merger related cost were $391 and $236, respectively as of December 31, 2015 and December 31, 2014. These cost were primarily included in salaries, wages and benefits, contracted data processing and professional services on the consolidated statements of operations. The following table presents financial information for the former TCNB included in the Consolidated Statements of Operations from the date of acquisition through December 31, 2015. Actual From (in thousands) Net interest income after provision for loan losses $ 3,155 Noninterest income 138 Net income 1,282 The following table presents unaudited pro forma information for the periods ended December 31, 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 (unaudited) Twelve months ended December 31, 2015 2014 2013 Net interest income after provision for loan losses $ 46,852 $ 44,583 $ 43,197 Noninterest income 14,699 14,297 12,486 Net income 11,931 10,045 7,024 Pro forma earnings per share: Basic $ 1.32 $ 1.06 $ 0.76 Diluted $ 1.09 $ 0.90 $ 0.75 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 provides the Company with additional 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 | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 3 - SECURITIES The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive loss were as follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value 2015 U.S. Treasury securities and obligations of U.S. government agencies $ 40,992 $ 74 $ (129 ) $ 40,937 Obligations of states and political subdivisions 87,255 4,959 (62 ) 92,152 Mortgage-back securities in government sponsored entities 62,135 681 (243 ) 62,573 Total debt securities 190,382 5,714 (434 ) 195,662 Equity securities in financial institutions 481 106 — 587 Total $ 190,863 $ 5,820 $ (434 ) $ 196,249 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value 2014 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-back 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 year end 2015 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available for sale Amortized Cost Fair Value Due in one year or less $ 5,075 $ 5,078 Due from one to five years 31,433 31,442 Due from five to ten years 31,754 33,606 Due after ten years 59,985 62,963 Mortgage-backed securities in government sponsored entities 62,135 62,573 Equity securities in financial institutions 481 587 Total $ 190,863 $ 196,249 Securities with a carrying value of $142,888 and $137,898 were pledged as of December 31, 2015 and 2014, respectively, to secure public deposits, other deposits and liabilities as required or permitted by law. Proceeds from sales of securities, gross realized gains and gross realized losses were as follows: 2015 2014 2013 Sale proceeds $ — $ 18,088 $ 8,686 Gross realized gains — 113 144 Gross realized losses — (1 ) (89 ) Gains (losses) from securities called or settled by the issuer (18 ) 1 149 Debt securities with unrealized losses at year end 2015 and 2014 not recognized in income are as follows: 12 Months or less More than 12 months Total 2015 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 $ 25,464 $ (112 ) $ 1,132 $ (17 ) $ 26,596 $ (129 ) Obligations of states and political subdivisions 2,932 (20 ) 1,469 (42 ) 4,401 (62 ) Mortgage-backed securities in gov’t sponsored entities 27,263 (172 ) 5,041 (71 ) 32,304 (243 ) Total temporarily impaired $ 55,659 $ (304 ) $ 7,642 $ (130 ) $ 63,301 $ (434 ) 12 Months or less More than 12 months Total 2014 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 ) The Company periodically evaluates securities for other-than-temporary impairment. An unrealized loss exists when the current fair value of an individual security is less than its amortized cost basis. Unrealized losses that are determined to be temporary in nature are recorded, net of tax, in accumulated other comprehensive loss on the Consolidated Balance Sheet. The Company has assessed each available-for-sale security position for credit impairment. Factors considered in determining whether a loss is temporary include: • The length of time and the extent to which fair value has been below cost; • The severity of impairment; • The cause of the impairment and the financial condition and near-term prospects of the issuer; • If the Company intends to sell the investment; • If it’s more-likely-than-not the Company will be required to sell the investment before recovering its amortized cost basis; and • If the Company does not expect to recover the investment’s entire amortized cost basis (even if the Company does not intend to sell the investment). The Company’s review for impairment generally entails: • Identification and evaluation of investments that have indications of impairment; • Analysis of individual investments that have fair values less than amortized cost, including consideration of length of time each investment has been in unrealized loss position and the expected recovery period; • Evaluation of factors or triggers that could cause individual investments to qualify as having other-than-temporary impairment; and • Documentation of these analyses, as required by policy. At December 31, 2015, the Company owned 50 securities that were considered temporarily impaired. The unrealized losses on these securities have not been recognized into income because the issuers’ bonds 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 changes in market interest rates. The Company also considers sector specific credit rating changes in its analysis. 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 | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Loans | NOTE 4 - LOANS Loans at year-end were as follows: 2015 2014 Commercial and Agriculture $ 124,402 $ 113,265 Commercial Real Estate - owner occupied 167,897 143,014 Commercial Real Estate - non-owner occupied 348,439 308,666 Residential Real Estate 236,338 214,537 Real Estate Construction 58,898 65,452 Farm Real Estate 46,993 53,973 Consumer and Other 18,560 15,950 Total Loans 1,001,527 914,857 Allowance for loan losses (14,361 ) (14,268 ) Net loans $ 987,166 $ 900,589 Included in total loans above are deferred loan fees of $78 at December 31, 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 Non-Owner Occupied 13,411 Residential Real Estate 17,541 Real Estate Construction 3,863 Farm Real Estate 397 Consumer and Other 4,404 Net loans $ 76,444 Loans to principal officers, directors, and their affiliates at year-end 2015 and 2014 were as follows: 2015 2014 Balance - Beginning of year $ 7,031 $ 9,294 New loans and advances 2,147 2,700 Repayments (2,947 ) (2,792 ) Effect of changes to related parties 8,916 (2,171 ) Balance - End of year $ 15,147 $ 7,031 |
Allowance for Loan Losses
Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Allowance for Loan Losses | NOTE 5 - ALLOWANCE FOR LOAN LOSSES Management has an established methodology to determine the adequacy of the allowance for loan losses that assesses the risks and losses inherent in the loan portfolio. For purposes of determining the allowance for loan losses, the Company has segmented certain loans in the portfolio by product type. Loans are segmented into the following pools: Commercial and Agriculture loans, Commercial Real Estate – Owner Occupied loans, Commercial Real Estate – Non-owner Occupied loans, Residential Real Estate loans, Real Estate Construction loans, Farm Real Estate loans and Consumer and Other loans. Loss migration rates for each risk category are 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. The Company began using the three-year period for loss migration during the third quarter of 2015. Previously, a two-year loss migration analysis had been used for the entire loan 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 the 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 consolidated balance sheet date. The Company considers the allowance for loan losses of $14,361 adequate to cover loan losses inherent in the loan portfolio, at December 31, 2015. The following tables present, by portfolio segment, the changes in the allowance for loan losses, the ending allocation of the allowance for loan losses and the loan balances outstanding for the years ended December 31, 2015 and December 31, 2014. The changes can be impacted by overall loan volume, adversely graded loans, historical charge-offs and economic factors. Beginning Charge-offs Recoveries Provision Ending Allowance for loan losses: December 31, 2015 Commercial & Agriculture $ 1,819 $ (190 ) $ 182 $ (333 ) $ 1,478 Commercial Real Estate: Owner Occupied 2,221 (523 ) 187 582 2,467 Non-Owner Occupied 4,334 (81 ) 115 289 4,657 Residential Real Estate 3,747 (1,135 ) 331 1,143 4,086 Real Estate Construction 428 — 5 (62 ) 371 Farm Real Estate 822 — 76 (360 ) 538 Consumer and Other 200 (120 ) 46 256 382 Unallocated 697 — — (315 ) 382 Total $ 14,268 $ (2,049 ) $ 942 $ 1,200 $ 14,361 For the year ended December 31, 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 primarily the result of the resolution of an impaired loan. The Company did not incur losses with this resolution. 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 allowance for Real Estate Construction loans decreased as a result of decreasing loan balances. The allowance for Farm Real Estate loans decreased as a result of decreasing loan balances and loss rates offset by an increase in classified loans. The increase in the allowance for Consumer and other loans increased due to an increase in loss rates, which is attributable to the change in the look-back period. Unallocated reserves declined due to a change in the Company’s lookback period. As described above, 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. Beginning Charge-offs Recoveries Provision Ending Allowance for loan losses: December 31, 2014 Commercial & Agriculture $ 2,838 $ (338 ) $ 251 $ (932 ) $ 1,819 Commercial Real Estate: Owner Occupied 2,931 (1,661 ) 360 591 2,221 Non-Owner Occupied 3,888 (198 ) 50 594 4,334 Residential Real Estate 5,224 (2,449 ) 293 679 3,747 Real Estate Construction 184 — 6 238 428 Farm Real Estate 740 — — 82 822 Consumer and Other 217 (135 ) 61 57 200 Unallocated 506 — — 191 697 Total $ 16,528 $ (4,781 ) $ 1,021 $ 1,500 $ 14,268 For the year ended December 31, 2014, the allowance for Commercial and 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 and classified loans. The net result of these changes was represented as a decrease in the provision. The decrease in the allowance for Commercial Real Estate - Owner Occupied loans was the result of eleven charge-offs, but also due to a decrease in loan balances outstanding and a decline in nonaccrual loans. The result of these changes was represented as a decrease in the allowance. The increase in the allowance for Commercial Real Estate - Non-Owner Occupied loans was the result of increasing loan balances and increased past-due balances. The allowance for Real Estate Construction loans increased as a result of a significant increase in loan balances. The ending reserve balance for Residential Real Estate loans declined from the end of the previous year due to charge-offs of loans that had a specific reserve previously applied. Additionally, a single relationship resulted in losses of $1,436 related to protecting the Company’s collateral. The net result of the changes was represented as a decrease in the allowance. The allowance for Consumer and Other loans decreased slightly during the year. While loan balances are up, loss rates continue to decrease resulting in the allowance being slightly lower. While we have seen improvement in asset quality, given the uncertainty in the economy, management determined that it was appropriate to maintain unallocated reserves at a slightly higher level at this time. Beginning Charge- Recoveries Provision Ending Allowance for loan losses: December 31, 2013 Commercial & Agriculture $ 2,811 $ (483 ) $ 141 $ 369 $ 2,838 Commercial Real Estate: Owner Occupied 4,565 (989 ) 265 (910 ) 2,931 Non-Owner Occupied 4,942 (815 ) 184 (423 ) 3,888 Residential Real Estate 5,780 (2,800 ) 391 1,853 5,224 Real Estate Construction 349 (136 ) 108 (137 ) 184 Farm Real Estate 632 (107 ) 67 148 740 Consumer and Other 246 (220 ) 80 111 217 Unallocated 417 — — 89 506 Total $ 19,742 $ (5,550 ) $ 1,236 $ 1,100 $ 16,528 For the year ended December 31, 2013, the allowance for Commercial Real Estate loans was reduced not only by charge-offs, but also due to the specific reserve required for impaired loans within this segment. The net result of these changes was represented as a decrease in the provision. The allowance for Real Estate Construction loans was reduced as a result of changes to specific reserves required for impaired loans and a reduction in the historical charge-offs for this segment. The result of these changes was represented as a decrease in the provision. The ending reserve balance for Residential Real Estate loans declined from the end of the previous year due to charge-offs during the period. Since these charged-off loans already had specific reserves assigned to them, we no longer need to carry as large a reserve for this segment. While we have seen improvement in asset quality, given the uncertainty in the economy, management determined that it was appropriate to maintain unallocated reserves at a higher level at this time. Loans acquired Loans Loans Total December 31, 2015 Allowance for loan losses: Commercial & Agriculture $ — $ 23 $ 1,455 $ 1,478 Commercial Real Estate: Owner Occupied — 103 2,364 2,467 Non-Owner Occupied — — 4,657 4,657 Residential Real Estate 123 137 3,826 4,086 Real Estate Construction — — 371 371 Farm Real Estate — — 538 538 Consumer and Other — — 382 382 Unallocated — — 382 382 Total $ 123 $ 263 $ 13,975 $ 14,361 Outstanding loan balances: Commercial & Agriculture $ 132 $ 873 $ 123,397 $ 124,402 Commercial Real Estate: Owner Occupied — 2,141 165,756 167,897 Non-Owner Occupied — 1,742 346,697 348,439 Residential Real Estate 131 1,642 234,565 236,338 Real Estate Construction — — 58,898 58,898 Farm Real Estate — 953 46,040 46,993 Consumer and Other — 3 18,557 18,560 Total $ 263 $ 7,354 $ 993,910 $ 1,001,527 Loans acquired Loans Loans Total December 31, 2014 Allowance for loan losses: Commercial & Agriculture $ — $ 641 $ 1,178 $ 1,819 Commercial Real Estate: Owner Occupied — 4 2,217 2,221 Non-Owner Occupied — 20 4,314 4,334 Residential Real Estate — 305 3,442 3,747 Real Estate Construction — — 428 428 Farm Real Estate — 53 769 822 Consumer and Other — — 200 200 Unallocated — — 697 697 Total $ — $ 1,023 $ 13,245 $ 14,268 Outstanding loan balances: Commercial & Agriculture $ — $ 2,304 $ 110,961 $ 113,265 Commercial Real Estate: Owner Occupied — 3,348 139,666 143,014 Non-Owner Occupied — 2,176 306,490 308,666 Residential Real Estate — 3,108 211,429 214,537 Real Estate Construction — — 65,452 65,452 Farm Real Estate — 208 53,765 53,973 Consumer and Other — 5 15,945 15,950 Total $ — $ 11,149 $ 903,708 $ 914,857 The following tables represent credit exposures by internally assigned risk ratings for the periods ended December 31, 2015 and 2014. The remaining loans in the Residential Real Estate, Real Estate Construction and Consumer and Other loan categories that are not assigned a risk grade are presented in a separate table below. The risk rating analysis estimates the capability of the borrower to repay the contractual obligations of the loan agreements as scheduled or at all. The Company’s internal credit risk rating system is based on experiences with similarly graded loans. The Company’s internally assigned grades are as follows: • Pass • Special Mention • Substandard • Doubtful • Loss • Unrated Pass Special Substandard Doubtful Ending December 31, 2015 Commercial & Agriculture $ 117,739 $ 3,090 $ 3,573 $ — $ 124,402 Commercial Real Estate: Owner Occupied 156,622 5,571 5,704 — 167,897 Non-Owner Occupied 339,734 6,100 2,605 — 348,439 Residential Real Estate 62,147 1,671 7,435 — 71,253 Real Estate Construction 52,399 216 29 — 52,644 Farm Real Estate 39,787 4,024 3,182 — 46,993 Consumer and Other 1,987 3 111 — 2,101 Total $ 770,415 $ 20,675 $ 22,639 $ — $ 813,729 Pass Special Substandard Doubtful Ending December 31, 2014 Commercial & Agriculture $ 106,989 $ 3,446 $ 2,830 $ — $ 113,265 Commercial Real Estate: Owner Occupied 129,849 4,378 8,787 — 143,014 Non-Owner Occupied 299,167 5,682 3,817 — 308,666 Residential Real Estate 49,249 697 8,833 — 58,779 Real Estate Construction 59,584 19 41 — 59,644 Farm Real Estate 51,416 1,737 820 — 53,973 Consumer and Other 1,567 — 53 — 1,620 Total $ 697,821 $ 15,959 $ 25,181 $ — $ 738,961 The following tables present performing and nonperforming loans based solely on payment activity for the years ended December 31, 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 December 31, 2015 Performing $ 165,048 $ 6,254 $ 16,458 $ 187,760 Nonperforming 37 — 1 38 Total $ 165,085 $ 6,254 $ 16,459 $ 187,798 Residential Real Estate Consumer Total December 31, 2014 Performing $ 155,758 $ 5,808 $ 14,312 $ 175,878 Nonperforming — — 18 18 Total $ 155,758 $ 5,808 $ 14,330 $ 175,896 The following tables include an aging analysis of the recorded investment of past due loans outstanding as of December 31, 2015 and 2014. 30-59 60-89 90 Days Total Past Current Total Loans Past Due December 31, 2015 Commercial & Agriculture $ 9 $ 32 $ 37 $ 78 $ 124,324 $ 124,402 $ — Commercial Real Estate: Owner Occupied 982 36 284 1,302 166,595 167,897 — Non-Owner Occupied 269 330 123 722 347,717 348,439 — Residential Real Estate 2,845 404 1,725 4,974 231,364 236,338 — Real Estate Construction 8 — — 8 58,890 58,898 — Farm Real Estate — — — — 46,993 46,993 — Consumer and Other 98 68 8 174 18,386 18,560 — Total $ 4,211 $ 870 $ 2,177 $ 7,258 $ 994,269 $ 1,001,527 $ — 30-59 60-89 90 Days Total Past Current Total Loans Past Due December 31, 2014 Commercial & Agriculture $ 58 $ — $ 187 $ 245 $ 113,020 $ 113,265 $ — Commercial Real Estate: 622 251 656 1,529 141,485 143,014 — Owner Occupied Non-Owner Occupied 520 5 2,103 2,628 306,038 308,666 — Residential Real Estate 1,923 721 2,177 4,821 209,716 214,537 — Real Estate Construction 33 — 8 41 65,411 65,452 — Farm Real Estate — — 171 171 53,802 53,973 — Consumer and Other 131 9 37 177 15,773 15,950 18 Total $ 3,287 $ 986 $ 5,339 $ 9,612 $ 905,245 $ 914,857 $ 18 The following table presents loans on nonaccrual status as of December 31, 2015 and 2014. 2015 2014 Commercial & Agriculture $ 1,185 $ 1,264 Commercial Real Estate: Owner Occupied 1,645 3,403 Non-Owner Occupied 1,428 2,134 Residential Real Estate 4,542 6,280 Real Estate Construction 29 41 Farm Real Estate 961 394 Consumer and Other 100 42 Total $ 9,890 $ 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. TDRs accounted for $286 of the allowance for loan losses for December 31, 2015, $895 as of December 31, 2014 and $750 as of December 31, 2013. Loan modifications that are considered TDRs completed during the twelve month periods ended December 31, 2015, 2014 and 2013 were as follows: For the Twelve Month Period Ended Number Pre- Post- Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied — — — Residential Real Estate — — — Real Estate Construction 1 41 41 Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 41 $ 41 For the Twelve Month Period Ended Number Pre- Post- Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied — — — Residential Real Estate 9 619 554 Real Estate Construction 1 35 35 Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 10 $ 654 $ 589 For the Twelve Month Period Ended Number Pre- Post- Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied 2 547 547 Non-Owner Occupied — — — Residential Real Estate — — — Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 2 $ 547 $ 547 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 originations loans, so modified loans present a higher risk of loss than do new origination loans. During the twelve month period ended December 31, 2015, there was one default, totaling $107, on loans which were modified and considered TDRs during the previous twelve months. During the period ended December 31, 2014, there were no defaults on loans that were modified and considered TDRs during the previous twelve 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 December 31, 2015 and 2014. December 31, 2015 December 31, 2014 Recorded Unpaid Related Recorded Unpaid Related With no related allowance recorded: Commercial & Agriculture $ 851 $ 1,034 $ 1,377 $ 1,504 Commercial Real Estate: Owner Occupied 1,224 1,343 2,961 3,327 Non-Owner Occupied 1,742 1,826 92 140 Residential Real Estate 965 1,591 1,893 3,487 Farm Real Estate 953 1,026 — — Consumer and Other 3 3 5 5 Total 5,738 6,823 6,328 8,463 With an allowance recorded: Commercial & Agriculture 22 23 $ 23 927 1,056 $ 641 Commercial Real Estate: Owner Occupied 917 999 103 388 387 4 Non-Owner Occupied — — — 2,083 2,287 20 Residential Real Estate 808 683 260 1,215 1,223 305 Farm Real Estate — — — 208 256 53 Total 1,747 1,705 386 4,821 5,209 1,023 Total: Commercial & Agriculture 873 1,057 23 2,304 2,560 641 Commercial Real Estate: Owner Occupied 2,141 2,342 103 3,349 3,714 4 Non-Owner Occupied 1,742 1,826 — 2,175 2,427 20 Residential Real Estate 1,773 2,274 260 3,108 4,710 305 Farm Real Estate 953 1,026 — 208 256 53 Consumer and Other 3 3 — 5 5 — Total $ 7,485 $ 8,528 $ 386 $ 11,149 $ 13,672 $ 1,023 Changes in the amortizable yield for purchased credit-impaired loans were as follows for the year ended December 31, 2015: At December 31, 2015 (In Thousands) Balance at beginning of period $ — Acquisition of impaired loans 140 Accretion (60 ) Balance at end of period $ 80 Loans acquired with credit deterioration and of $831 and accounted for in accordance with ASC 310-30 were individually evaluated to estimate credit losses and a net recovery amount for each loan. The net cash flows for each loan were then discounted to present value using a risk-adjusted market rate. The table below presents the components of the purchase accounting adjustments. March 6, 2015 Contractually required payments $ 1,305 Non-accretable discount (691 ) Expected cash flows 614 Accretable discount (140 ) Estimated fair value $ 474 The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30: At March 6, 2015 At December 31, 2015 Acquired Loans with Acquired Loans with (In Thousands) Outstanding balance $ 1,305 $ 965 Carrying amount 474 263 There has been $123 in allowance for loan losses recorded for acquired loans with or without specific evidence of deterioration in credit quality as of December 31, 2015. The following tables include the average recorded investment and interest income recognized for impaired financing receivables as of, and for the years ended, December 31, 2015, 2014 and 2013. December 31, 2015 December 31, 2014 Average Interest Average Interest For the year ended: Commercial & Agriculture $ 1,519 $ 72 $ 3,316 $ 104 Commercial Real Estate: Owner Occupied 2,738 139 5,720 200 Non-Owner Occupied 1,946 32 2,767 40 Residential Real Estate 2,544 152 3,291 207 Real Estate Construction 16 — — — Farm Real Estate 653 56 219 19 Consumer and Other 4 — 6 — Total $ 9,420 $ 451 $ 15,319 $ 570 December 31, 2013 Average Interest For the year ended: Commercial & Agriculture $ 4,761 $ 186 Commercial Real Estate: Owner Occupied 6,065 417 Non-Owner Occupied 5,855 85 Residential Real Estate 4,792 282 Real Estate Construction 302 — Farm Real Estate 246 19 Consumer and Other 30 — Total $ 22,051 $ 989 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 December 31, 2015 and December 31, 2014, a total of $116 and $560, respectively of foreclosed assets were included with other assets. As of December 31, 2015, included within the foreclosed assets is $116 of consumer residential mortgages that were foreclosed on or received via a deed in lieu transaction prior to the period end. As of December 31, 2015, the Company had initiated formal foreclosure procedures on $340 of consumer residential mortgages. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) | NOTE 6 – OTHER COMPREHENSIVE INCOME (LOSS) The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, as of December 31, 2015, 2014 and 2013. For the Year Ended For the Year Ended For the Year Ended December 31, 2015 December 31, 2014 December 31, 2013 Unrealized Defined Total Unrealized Defined Total Unrealized Defined Total Beginning balance $ 3,730 $ (3,777 ) $ (47 ) $ 341 $ (4,588 ) $ (4,247 ) $ 5,849 $ (7,496 ) $ (1,647 ) Other comprehensive income (loss) before reclassifications (188 ) (449 ) (637 ) 3,464 591 4,055 (5,373 ) — (5,373 ) Amounts reclassified from accumulated other comprehensive loss 12 177 189 (75 ) 220 145 (135 ) 2,908 2,773 Net current-period other comprehensive income (loss) (176 ) (272 ) (448 ) 3,389 811 4,200 (5,508 ) 2,908 (2,600 ) Ending balance $ 3,554 $ (4,049 ) $ (495 ) $ 3,730 $ (3,777 ) $ (47 ) $ 341 $ (4,588 ) $ (4,247 ) 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 loss as of December 31, 2015, 2014 and 2013. Amount Reclassified from (a) For the year ended December 31, Details about Accumulated Other Comprehensive Loss Components 2015 2014 2013 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains (losses) on available-for-sale securities $ (18 ) $ 113 $ 204 Net gain (loss) on sale of securities Tax effect 6 (38 ) (69 ) Income taxes (12 ) 75 135 Amortization of defined benefit pension items Actuarial losses (270 ) (b) (334 ) (b) (4,406 ) (b) Salaries, wages and benefits Tax effect 93 114 1,498 Income taxes (177 ) (220 ) (2,908 ) Total reclassifications for the period $ (189 ) $ (145 ) $ (2,773 ) (a) Amounts in parentheses indicate expenses and other amounts indicate income. (b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | NOTE 7 - PREMISES AND EQUIPMENT Year-end premises and equipment were as follows: 2015 2014 Land and improvements $ 4,225 $ 3,770 Buildings and improvements 20,856 17,373 Furniture and equipment 15,996 13,942 Total 41,077 35,085 Accumulated depreciation (24,133 ) (20,685 ) Premises and equipment, net $ 16,944 $ 14,400 Depreciation expense was $1,193, $1,176 and $1,334 for 2015, 2014 and 2013, respectively. Rent expense was $506, $377 and $367 for 2015, 2014 and 2013, respectively. Rent commitments under non-cancelable operating leases at December 31, 2015 were as follows, before considering renewal options that generally are present. 2016 $ 529 2017 492 2018 307 2019 263 2020 48 Thereafter — Total $ 1,639 The rent commitments listed above are primarily for the leasing of seven financial services branches. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | NOTE 8 – GOODWILL AND INTANGIBLE ASSETS The carrying amount of goodwill increased from $21,720 on December 31, 2014 to $27,095 on December 31, 2015. The increase was the result of the goodwill related to the merger with TCNB Financial Corp. of $5,375. 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 performed an evaluation of the Company’s goodwill during the fourth quarter of 2015. In performing its evaluation, management obtained several commonly used financial ratios from pending and completed purchase transactions for banks based in the Midwest. Management used these ratios to determine an implied market value for the Company. The implied market value was then used to determine whether or not additional testing was required. Based on this test, management concluded that the Company’s goodwill was not impaired at December 31, 2015. Acquired intangible assets were as follows as of year end. 2015 2014 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Core deposit and other intangibles $ 7,697 $ 5,876 $ 6,688 $ 5,165 Aggregate amortization expense was $711, $769 and $846 for 2015, 2014 and 2013, respectively. Estimated amortization expense for each of the next five years and thereafter is as follows: 2016 $ 699 2017 587 2018 111 2019 88 2020 71 Thereafter 265 $ 1,821 |
Interest-Bearing Deposits
Interest-Bearing Deposits | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Interest-Bearing Deposits | NOTE 9 - INTEREST-BEARING DEPOSITS Interest-bearing deposits as of December 31, 2015 and 2014 were as follows: 2015 2014 Demand $ 176,303 $ 179,388 Statement and Passbook Savings 364,066 318,859 Certificates of Deposit: In excess of $100 53,499 53,669 Other 130,840 139,531 Individual Retirement Accounts 26,710 26,770 Total $ 751,418 $ 718,217 Scheduled maturities of certificates of deposit, including IRA’s at December 31, 2015 were as follows: 2016 $ 124,120 2017 53,071 2018 14,539 2019 13,508 2020 5,314 Thereafter 497 Total $ 211,049 Deposits from the Company’s principal officers, directors, and their affiliates at year-end 2015 and 2014 were $6,868 and $6,882, respectively. As of December 31, 2015, CDs and IRAs totaling $17,904 met or exceeded the FDIC’s insurance limit. |
Short-Term Borrowings
Short-Term Borrowings | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | NOTE 10 – SHORT-TERM BORROWINGS Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows: At December 31, 2015 At December 31, 2014 Federal Federal Funds Short-term Funds Short-term Purchased Borrowings Purchased Borrowings Outstanding balance at year end $ — $ 53,700 $ — $ 42,700 Maximum indebtedness during the year — 64,700 — 42,700 Average balance during the year 69 26,880 41 1,951 Average rate paid during the year 0.53 % 0.20 % 0.54 % 0.19 % Interest rate on year end balance — 0.35 % — 0.14 % At December 31, 2013 Federal Funds Short-term Purchased Borrowings Outstanding balance at year end $ — $ — Maximum indebtedness during the year — — Average balance during the year 28 — Average rate paid during the year 0.53 % — Interest rate on year end balance — — 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 both December 31, 2015 and December 31, 2014. |
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Federal Home Loan Bank Advances | NOTE 11 - FEDERAL HOME LOAN BANK ADVANCES Long term advances from the FHLB were $17,500 at December 31, 2015 and $22,500 at December 31, 2014. Outstanding balances have maturity dates ranging from January 2017 to October 2019 and fixed rates ranging from 1.50% to 4.25%. The average rate on outstanding advances was 2.06%. Scheduled principal reductions of FHLB advances outstanding at December 31, 2015 were as follows: 2016 $ — 2017 2,500 2018 10,000 2019 5,000 Total $ 17,500 In addition to the borrowings, the Company had outstanding letters of credit with the FHLB totaling $21,200 at year-end 2015 and $22,700 at year-end 2014 used for pledging to secure public funds. FHLB borrowings and the letters of credit are collateralized by FHLB stock and by $138,600 and $131,850 of residential mortgage loans under a blanket lien arrangement at year-end 2015 and 2014, respectively. The Company had a FHLB maximum borrowing capacity of $132,054 as of December 31, 2015, with remaining borrowing capacity of approximately $39,654. The borrowing arrangement with the FHLB is subject to annual renewal. The maximum borrowing capacity is recalculated at least quarterly. |
Securities Sold Under Agreement
Securities Sold Under Agreements to Repurchase | 12 Months Ended |
Dec. 31, 2015 | |
Brokers and Dealers [Abstract] | |
Securities Sold Under Agreements to Repurchase | NOTE 12 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE 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 December 31, 2015 and December 31, 2014. All of the repurchase agreements are overnight agreements. December 31, 2015 December 31, 2014 Securities pledged for repurchase agreements: U.S. Treasury securities $ 894 $ 876 Obligations of U.S. government agencies 24,146 20,737 Total securities pledged $ 25,040 $ 21,613 Gross amount of recognized liabilities for repurchase agreements $ 25,040 $ 21,613 Amounts related to agreements not included in offsetting disclosures above $ — $ — Information concerning securities sold under agreements to repurchase was as follows: 2015 2014 2013 Outstanding balance at year end $ 25,040 $ 21,613 $ 20,053 Average balance during the year 20,086 19,759 20,749 Average interest rate during the year 0.10 % 0.10 % 0.10 % Maximum month-end balance during the year $ 25,040 $ 33,764 $ 24,257 Weighted average interest rate at year end 0.10 % 0.10 % 0.10 % Securities underlying repurchase agreements had a fair value of $25,040 at December 31, 2015 and $21,613 at December 31, 2014. |
Subordinated Debentures
Subordinated Debentures | 12 Months Ended |
Dec. 31, 2015 | |
Brokers and Dealers [Abstract] | |
Subordinated Debentures | NOTE 13 – SUBORDINATED DEBENTURES Trusts formed by the Company issued floating rate trust preferred securities, in the amounts of $5,000 and $7,500, through special purpose entities as part of pooled offerings of such securities. The Company issued subordinated debentures to the trusts in exchange for the proceeds of the offerings, which debentures represent the sole assets of the trusts. The Company may redeem the subordinated debentures, in whole but not in part, at face value. In April 2007, the Company elected to redeem and refinance the $5,000 floating rate subordinated debenture. The refinancing was done at face value and resulted in a 2.00% reduction in the rate. The new subordinated debenture has a 30-year maturity and is redeemable, in whole or in part, anytime without penalty. The replacement subordinated debenture does not have any deferred issuance cost associated with it. The interest rate at December 31, 2015 on the $7,500 debenture was 3.48% and the $5,000 debenture was 1.94%. Additionally, the Company formed an additional trust that issued $12,500 of 6.05% fixed rate trust preferred securities for five years, then becoming floating rate trust preferred securities, through a special purpose entity as part of a pooled offering of such securities. The Company issued subordinated debentures to the trusts in exchange for the proceeds of the offerings, which debentures represent the sole assets of the trusts. The Company may redeem the subordinated debentures at face value without penalty. The current rate on the $12,500 subordinated debenture is 2.60%. Finally, the Company acquired two additional trust preferred securities as part of its acquisition of Futura Banc Corp (Futura) in December 2007. Futura TPF Trust I and Futura TPF Trust II were formed in June of 2005 in the amounts of $2,500 and $1,927, respectively. Futura had issued subordinated debentures to the trusts in exchange for ownership of all of the common security of the trusts and the proceeds of the preferred securities sold by the trusts. The Company may redeem the subordinated debentures, in whole or in part, in a principal amount with integral multiples of $1,000, on or after June 15, 2010 at 100% of the principal amount, plus accrued and unpaid interest. The subordinated debentures mature on June 15, 2035. The subordinated debentures are also redeemable in whole or in part from time to time, upon the occurrence of specific events defined within the trust indenture. The current rate on the $2,500 subordinated debenture is variable at 2.00%. In June 2010, the rate on the $1,927 subordinated debenture switched from a fixed rate to a floating rate. The current rate on the $1,927 subordinated debenture is 2.00%. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 14 – INCOME TAXES Income taxes were as follows: 2015 2014 2013 Current $ 5,191 $ 3,151 $ 11 Deferred (410 ) 11 1,362 Income taxes $ 4,781 $ 3,162 $ 1,373 Effective tax rates differ from the statutory federal income tax rate of 34% due to the following: 2015 2014 2013 Income taxes computed at the statutory federal tax rate $ 5,959 $ 4,315 $ 2,568 Add (subtract) tax effect of: Nontaxable interest income, net of nondeductible interest expense (900 ) (824 ) (781 ) Low income housing tax credit (303 ) (303 ) (280 ) Cash surrender value of BOLI (159 ) (167 ) (189 ) Other 184 141 55 Income tax expense $ 4,781 $ 3,162 $ 1,373 There were no tax benefits attributable to security losses in 2015, 2014 and 2013, respectively. Year-end deferred tax assets and liabilities were due to the following: 2015 2014 Deferred tax assets Allowance for loan losses $ 5,005 $ 4,851 Deferred compensation 1,617 1,386 Intangible assets 224 — Pension costs 232 198 Other 99 122 Deferred tax asset 7,177 6,557 Deferred tax liabilities Tax depreciation in excess of book depreciation (95 ) (351 ) Discount accretion on securities (59 ) (63 ) Purchase accounting adjustments (1,340 ) (1,189 ) FHLB stock dividends (1,705 ) (1,687 ) Unrealized gain on securities available for sale (1,831 ) (1,922 ) Other (200 ) (196 ) Deferred tax liability (5,230 ) (5,408 ) Net deferred tax asset $ 1,947 $ 1,149 The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of the State of Ohio for all affiliates other than Civista. Civista is subject to tax in Ohio based upon its net worth. There is currently no liability for uncertain tax positions and no known unrecognized tax benefits. The Company’s federal tax returns for taxable years through 2011 have been closed for purposes of examination by the Internal Revenue Service. |
Retirement Plans
Retirement Plans | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Plans | NOTE 15 - RETIREMENT PLANS The Company sponsors a savings and retirement 401(k) plan, which covers all employees who meet certain eligibility requirements and who choose to participate in the plan. The matching contribution to the 401(k) plan was $667, $394 and $204 in 2015, 2014 and 2013, respectively. In conjunction with freezing the pension plan, as discussed below, the Company changed the matching contribution calculation from twenty-five percent of the first six percent of an employee’s contribution to 100% of an employee’s first three percent contributed and 50% of the next two percent contributed. This change took place on July 1, 2014. The Company also sponsors a pension plan which is a noncontributory defined benefit retirement plan for all employees who have attained the age of 20 1 2 In October 2015, the Company, on behalf of it and its subsidiaries, entered into Pension Shortfall Agreements (the “Shortfall Agreements”) with ten other employees of the Bank. When the Company ceased accruals to its defined benefit pension plan on April 30, 2014, the circumstances of some participants with limited periods until their anticipated retirement dates would not permit them to use other available alternatives to make up for the shortfall in their expected pension. The Company calculated the total amount of the shortfall for each of the referenced individuals after considering its contributions to other retirement benefits. Pension shortfall expense was $380 in 2015. A total of $11 of interest expense was also recorded and credited to the accounts of the ten individuals covered by this plan. Information about the pension plan is as follows: 2015 2014 Change in benefit obligation: Beginning benefit obligation $ 16,953 $ 18,456 Service cost — 306 Interest cost 604 639 Curtailment gain — (4,039 ) Settlement loss 117 55 Actuarial (gain)/loss (6 ) 3,007 Benefits paid (1,340 ) (1,471 ) Ending benefit obligation 16,328 16,953 Change in plan assets, at fair value: Beginning plan assets 16,184 15,466 Actual return 129 703 Employer contribution 700 1,515 Benefits paid (1,340 ) (1,471 ) Administrative expenses (26 ) (29 ) Ending plan assets 15,647 16,184 Funded status at end of year $ (681 ) $ (769 ) Amounts recognized in accumulated other comprehensive income at December 31, consist of unrecognized actuarial loss of $4,049, net of $2,086 tax in 2015 and $3,777, net of $1,946 tax in 2014. The accumulated benefit obligation for the defined benefit pension plan was $16,328 at December 31, 2015 and $16,953 at December 31, 2014. The components of net periodic pension expense were as follows: 2015 2014 2013 Service cost $ — $ 306 $ 1,204 Interest cost 604 639 884 Expected return on plan assets (1,088 ) (1,021 ) (965 ) Net amortization and deferral 270 334 698 Net periodic pension cost (benefit) $ (214 ) $ 258 $ 1,821 Net loss (gain) recognized in other comprehensive loss 412 (1,228 ) (4,406 ) Total recognized in net periodic benefit cost and other comprehensive loss (before tax) $ 198 $ (970 ) $ (2,585 ) The estimated net loss for the defined benefit pension plan that will be amortized from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal year is $332. The weighted average assumptions used to determine benefit obligations at year-end were as follows: 2015 2014 2013 Discount rate on benefit obligation 4.16 % 3.69 % 4.38 % Long-term rate of return on plan assets 7.00 % 7.00 % 7.00 % Rate of compensation increase 0.00 % 0.00 % 3.00 % The weighted average assumptions used to determine net periodic pension cost were as follows: 2015 2014 2013 Discount rate on benefit obligation 3.69 % 4.38 % 3.72 % Long-term rate of return on plan assets 7.00 % 7.00 % 7.00 % Rate of compensation increase 0.00 % 3.00 % 3.00 % The Company uses long-term market rates to determine the discount rate on the benefit obligation. Declines in the discount rate lead to increases in the actuarial loss related to the benefit obligation. The expectation for long-term rate of return on the pension assets and the expected rate of compensation increases are reviewed periodically by management in consultation with outside actuaries and primary investment consultants. Factors considered in setting and adjusting these rates are historic and projected rates of return on the portfolio and historic and estimated rates of increases of compensation. Since the pension plan is frozen, the rate of compensation increase used to determine the benefit obligation for 2015 was zero. The Company’s pension plan asset allocation at year-end 2015 and 2014 and target allocation for 2016 by asset category are as follows: Percentage of Plan Target Assets Allocation at Year-end Asset Category 2016 2015 2014 Equity securities 20-50 % 48.2 % 46.7 % Debt securities 30-60 47.0 48.3 Money market funds 20-30 4.8 5.0 Total 100.0 % 100.0 % The Company developed the pension plan investment policies and strategies for plan assets with its pension management firm. The assets are currently invested in four diversified investment funds, which include two equity funds, one money market fund and one bond fund. The long-term guidelines from above were created to maximize the return on portfolio assets while reducing the risk of the portfolio. The management firm may allocate assets among the separate accounts within the established long-term guidelines. Transfers among these accounts will be at the management firm’s discretion based on their investment outlook and the investment strategies that are outlined at periodic meetings with the Company. The expected long-term rate of return on the plan assets was 7.00% in 2015 and 2014. This return is based on the expected return for each of the asset categories, weighted based on the target allocation for each class. Although the plan is frozen, the Company expects to make a $500 contribution to its pension plan in 2016. Employer contributions totaled $700 in 2015. The decrease in the benefit obligation, contributions and the increase in plan assets led to a change in funded status from $(769) at December 31, 2014 to $(681) at December 31, 2015. The following tables set forth by level, within the fair value hierarchy, the pension plan’s assets at fair value as of December 31, 2015 and 2014: December 31, 2015 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 94 $ — $ — $ 94 Bond mutual funds 23 — — 23 Common/collective trust: Bonds 7,338 — — 7,338 Equities 6,315 — — 6,315 Equity market funds: International 357 — — 357 Large cap 1,155 — — 1,155 Mid cap 242 — — 242 Small cap 123 — — 123 Total assets at fair value $ 15,647 $ — $ — $ 15,647 December 31, 2014 Level 1 Level 2 Level 3 Total Assets: Cash $ 3 $ — $ — $ 3 Money market funds 91 — — 91 Bond mutual funds 23 — — 23 Common/collective trust: Bonds 7,802 — — 7,802 Equities 6,383 — — 6,383 Equity market funds: Commodity mutual funds 19 — — 19 International 342 — — 342 Large cap 1,150 — — 1,150 Mid cap 253 — — 253 Small cap 118 — — 118 Total assets at fair value $ 16,184 $ — $ — $ 16,184 Investment in equity securities, debt securities, money market funds and mutual funds are valued at the closing price reported on the active market on which the individual securities are traded. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Pension Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. Expected benefit payments, which reflect expected future service, are as follows: 2016 $ 1,520 2017 1,820 2018 528 2019 1,367 2020 1,033 2021 through 2025 5,565 Total $ 11,833 Supplemental Retirement Plan Civista established a supplemental retirement plan (“SERP”) in 2013, which covers key members of management. Under the SERP, participants will receive annually, following retirement, a percentage of their base compensations at the time of their retirement for a maximum of ten years. The SERP liability recorded at December 31, 2015, was $1,775, compared to $1,498 at December 31, 2014. The expense related to the SERP was $299, $398 and $412 for 2015, 2014 and 2013, respectively. Distributions to participants made in 2015 totaled $22. Distributions to participants made in 2014 totaled $11. |
Equity Incentive Plan
Equity Incentive Plan | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plan | NOTE 16 – 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 December 31, 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 December 31, 2015 and 2014. During the year ended December 31, 2015, the Company recorded $106 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 December 31, 2015, is $78 which will be recognized over the remaining vesting period of 2.00 years. The following is a summary of the status of the Company’s restricted shares as of December 31, 2015, and changes therein during the twelve months ended: December 31, 2015 Weighted Number of Average Restricted Grant Date Shares Fair Value Nonvested at beginning of period — $ — Granted 16,983 10.82 Vested — — Forfeited — — Nonvested at December 31, 2015 16,983 10.82 |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | NOTE 17 – FAIR VALUE MEASUREMENT U.S. generally accepted accounting principles establish a hierarchal disclosure framework associated with the level of observable pricing utilized in measuring assets and liabilities at fair value. The three broad levels defined by the hierarchy are as follows: 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. Securities: Equity securities: Fair value swap asset/liability: Impaired loans: appraisal was completed. Additionally, management makes estimates about expected costs to sell the property which are also included in the net realizable value. If the fair value of the collateral dependent loan is less than the carrying amount of the loan, a specific reserve for the loan is made in the allowance for loan losses or a charge-off is taken to reduce the loan to the fair value of the collateral (less estimated selling costs) and the loan is included in the table above as a Level 3 measurement. Other real estate owned: Assets measured at fair value are summarized below. Fair Value Measurements at December 31, 2015 Using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 40,937 $ — Obligations of states and political subdivisions — 92,152 — Mortgage-backed securities in government sponsored entities — 62,573 — Equity securities in financial institutions — 587 — Fair value swap asset — 1,962 — Liabilities: Fair value swap liability — 1,962 — Assets measured at fair value on a nonrecurring basis: Impaired Loans $ — $ — $ 759 Other Real Estate Owned — — 109 Fair Value Measurements at December 31, 2014 Using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 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 swap asset — 1,721 — Liabilities: Fair value swap liability — 1,721 — Assets measured at fair value on a nonrecurring basis: Impaired Loans $ — $ — $ 2,690 Other Real Estate Owned — — 550 The following tables 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, 2015 and 2014. Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Technique Unobservable Input Range Weighted December 31, 2015 Impaired loans $ 759 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% Holding period 0 - 30 months 17 months Other real estate owned $ 109 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Technique Unobservable Input Range Weighted December 31, 2014 Impaired loans $ 2,690 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% Holding period 0 - 30 months 16 months Other real estate owned $ 550 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% The carrying amount and fair value of financial instruments were as follows: Carrying Total Amount Fair Value Level 1 Level 2 Level 3 December 31, 2015 Financial Assets: Cash and due from financial institutions $ 35,561 $ 35,561 $ 35,561 $ — $ — Securities available for sale 196,249 196,249 — 196,249 — Loans, held for sale 2,698 2,698 2,698 — — Loans, net of allowance for loan losses 987,166 986,848 — — 986,848 Other securities 13,452 13,452 13,452 — — Bank owned life insurance 20,104 20,104 20,104 — — Accrued interest receivable 3,902 3,902 3,902 — — Swap asset 1,962 1,962 — 1,962 — Financial Liabilities: Nonmaturing deposits 840,984 840,984 840,984 — — Time deposits 211,049 212,006 — — 212,006 Short-term FHLB advances 53,700 52,906 52,906 — — Long-term FHLB advances 17,500 17,687 — — 17,687 Securities sold under agreement to repurchase 25,040 25,040 25,040 — — Subordinated debentures 29,427 25,572 — — 25,572 Accrued interest payable 120 120 120 — — Swap liability 1,962 1,962 — 1,962 — Carrying Total Amount Fair Value Level 1 Level 2 Level 3 December 31, 2014 Financial Assets: Cash and due from financial institutions $ 29,858 $ 29,858 $ 29,858 $ — $ — Securities available for sale 197,905 197,905 — 197,905 — Loans, held for sale 2,410 2,410 2,410 — — Loans, net of allowance for loan losses 900,589 908,118 — — 908,118 Other securities 12,586 12,586 12,586 — — Bank owned life insurance 19,637 19,637 19,637 — — Accrued interest receivable 3,852 3,852 3,852 — — 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 — — Swap liability 1,721 1,721 — 1,721 — The estimated fair value approximates carrying amount for all items except those described below. Estimated fair value for securities is based on quoted market values for the individual securities or for equivalent securities. For fixed rate loans or deposits and for variable rate loans or deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the cash flow analysis or underlying collateral values. Fair value of debt is based on current rates for similar financing. The fair value of off-balance-sheet items is based on the current fees or cost that would be charged to enter into or terminate such arrangements and are considered nominal. For certain homogeneous categories of loans, such as some residential mortgages, credit card receivables, and other consumer loans, fair value is estimated using the quoted market prices for securities backed by similar loans, adjusted for differences in loan characteristics. The fair value of other types of loans is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. |
Commitments, Contingencies and
Commitments, Contingencies and Off-Balance Sheet Risk | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Contingencies and Off-Balance Sheet Risk | NOTE 18 - 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 customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment. The contractual amount of financial instruments with off-balance-sheet risk was as follows at year-end. 2015 2014 Fixed Variable Fixed Variable Rate Rate Rate Rate Commitments to extend credit: Lines of credit and construction loans $ 9,416 $ 195,732 $ 9,405 $ 160,718 Overdraft protection 5 22,119 4 22,122 Letters of credit 200 750 200 1,007 $ 9,621 $ 218,601 $ 9,609 $ 183,847 Commitments to make loans are generally made for a period of one year or less. Fixed-rate loan commitments included above had interest rates ranging from 3.25% to 8.75% at December 31, 2015 and 3.05% to 8.75% at 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 $2,448 on December 31, 2015 and $3,259 on December 31, 2014. |
Capital Requirements and Restri
Capital Requirements and Restriction on Retained Earnings | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Capital Requirements and Restriction on Retained Earnings | NOTE 19 – CAPITAL REQUIREMENTS AND RESTRICTION ON RETAINED EARNINGS The Company and Civista (“Companies”) are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory-and possibly additional discretionary-actions by regulators that, if undertaken, could have a direct material effect on the Companies’ financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Companies must meet specific capital guidelines that involve quantitative measures of the Companies’ assets, liabilities, and certain off-balance-sheet items as calculated under U.S. GAAP, regulatory reporting requirements, and regulatory capital standards. The Companies’ capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factor. Quantitative measures established by regulatory capital standards to ensure capital adequacy require the Companies to maintain minimum amounts and ratios (set forth in the following table) of total and Tier 1 capital to risk-weighted assets, common equity Tier 1 capital to total risk-weighted assets, and of Tier 1 capital to average assets. Management believes, as of December 31, 2015, that the Companies meet all capital adequacy requirements to which it is subject. As of December 31, 2015, and December 31, 2014, the most recent notification from the Federal Reserve Bank categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Companies must maintain minimum total risk-based capital, Tier 1 risk-based capital, common equity Tier 1 risk-based capital, and Tier 1 leverage ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the institution’s category. The Company’s and Civista’s actual capital levels and minimum required levels at December 31, 2015 and 2014 were as follows: To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Purposes Amount Ratio Amount Ratio Amount Ratio 2015 Total Risk Based Capital Consolidated $ 140,088 14.0 % $ 80,050 8.0 % n/a n/a Civista 126,795 12.7 79,871 8.0 $ 99,839 10.0 % Tier I Risk Based Capital Consolidated 127,519 12.7 60,245 6.0 n/a n/a Civista 113,883 11.4 59,938 6.0 79,918 8.0 CET1 Risk Based Capital Consolidated 75,819 7.6 44,893 4.5 n/a n/a Civista 102,755 10.1 45,782 4.5 66,129 6.5 Leverage Consolidated 127,519 10.0 51,008 4.0 n/a n/a Civista 113,883 8.9 51,183 4.0 63,979 5.0 2014 Total Risk Based Capital Consolidated $ 131,581 14.7 % $ 71,609 8.0 % n/a n/a Civista 111,470 12.5 71,341 8.0 $ 89,176 10.0 % Tier I Risk Based Capital Consolidated 120,334 13.4 35,921 4.0 n/a n/a Civista 100,259 11.2 35,807 4.0 53,710 6.0 CET1 Risk Based Capital Consolidated n/a n/a n/a n/a n/a n/a Civista n/a n/a n/a n/a n/a n/a Leverage Consolidated 120,334 10.3 46,732 4.0 n/a n/a Civista 100,259 8.6 46,632 4.0 58,290 5.0 The Company’s primary source of funds for paying dividends to its shareholders and for operating expense is the cash accumulated from dividends received from Civista. Payment of dividends by Civista to the Company is subject to restrictions by Civista’s regulatory agencies. These restrictions generally limit dividends to the current and prior two years retained earnings as defined by the regulations. In addition, dividends may not reduce capital levels below minimum regulatory requirements. At December 31, 2015, Civista had $6,863 net profits available to pay dividends to CBI. |
Parent Company Only Condensed F
Parent Company Only Condensed Financial Information | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Parent Company Only Condensed Financial Information | NOTE 20 - PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION Condensed financial information of CBI follows: December 31, 2015 2014 Condensed Balance Sheets Assets: Cash $ 7,493 $ 13,663 Securities available for sale 587 540 Investment in bank subsidiary 133,959 117,364 Investment in nonbank subsidiaries 12,615 12,605 Other assets 2,204 3,003 Total assets $ 156,858 $ 147,175 Liabilities: Deferred income taxes and other liabilities $ 2,258 $ 1,839 Subordinated debentures 29,427 29,427 Total liabilities 31,685 31,266 Shareholders’ Equity: Preferred stock 22,273 23,132 Common stock 115,330 114,365 Accumulated earnings (deficit) 5,300 (4,306 ) Treasury Stock (17,235 ) (17,235 ) Accumulated other comprehensive loss (495 ) (47 ) Total shareholders’ equity 125,173 115,909 Total liabilities and shareholders’ equity $ 156,858 $ 147,175 For the years ended December 31, 2015 2014 2013 Condensed Statements of Operations Dividends from bank subsidiaries $ 14,226 $ 7,339 $ 7,888 Interest expense (760 ) (777 ) (740 ) Pension expense (388 ) (397 ) (4,072 ) Other expense, net (1,755 ) (1,150 ) (952 ) Income before equity in undistributed net earnings of subsidiaries 11,323 5,015 2,124 Income tax benefit 959 763 1,960 Equity in undistributed net earnings of subsidiaries 463 3,750 2,095 Net income $ 12,745 $ 9,528 $ 6,179 Comprehensive income $ 12,297 $ 13,728 $ 3,579 For the years ended December 31, 2015 2014 2013 Condensed Statements of Cash Flows Operating activities: Net income $ 12,745 $ 9,528 $ 6,179 Adjustment to reconcile net income to net cash from operating activities: Change in other assets and other liabilities 1,324 1,508 (1,620 ) Equity in undistributed net earnings of subsidiaries (463 ) (3,750 ) (2,095 ) Net cash from operating activities 13,606 7,286 2,464 Investing activities: Acquisition and additional capitalization of subsidiary, net of cash acquired (16,637 ) — — Net cash used for investing activities (16,637 ) — — Financing activities: Payment to repurchase preferred stock — (22,857 ) — Proceeds from issuance of preferred stock — — 23,132 Cash dividends paid (3,139 ) (3,338 ) (2,315 ) Net cash (used for) from financing activities (3,139 ) (26,195 ) 20,817 Net change in cash and cash equivalents (6,170 ) (18,909 ) 23,281 Cash and cash equivalents at beginning of year 13,663 32,572 9,291 Cash and cash equivalents at end of year $ 7,493 $ 13,663 $ 32,572 |
Preferred Shares
Preferred Shares | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Preferred Shares | NOTE 21 – 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. |
Earnings per Common Share
Earnings per Common Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | NOTE 22 – EARNINGS PER COMMON SHARE The factors used in the earnings per share computation follow. 2015 2014 2013 Basic Net income $ 12,745 $ 9,528 $ 6,179 Preferred stock dividends 1,577 1,873 1,159 Net income available to common shareholders - basic $ 11,168 $ 7,655 $ 5,020 Weighted average common shares outstanding - basic 7,822,369 7,707,917 7,707,917 Basic earnings per share $ 1.43 $ 0.99 $ 0.65 Diluted Net income available to common shareholders - basic $ 11,168 $ 7,655 $ 5,020 Preferred stock dividends on convertible preferred stock 1,577 1,606 — Net income available to common shareholders - diluted $ 12,745 $ 9,261 $ 5,020 Weighted average common shares outstanding for earnings per common share basic 7,822,369 7,707,917 7,707,917 Add: dilutive effects of convertible preferred shares 3,095,966 3,196,931 113,863 Average shares and dilutive potential common shares outstanding - diluted 10,918,335 10,904,848 7,821,780 Diluted earnings per share $ 1.17 $ 0.85 $ 0.64 Basic earnings per common share are calculated by dividing net income by the weighted-average number of common shares outstanding for 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 shares using the “if converted” method. |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data (Unaudited) | NOTE 23 – QUARTERLY FINANCIAL DATA (UNAUDITED) Interest Net Interest Net Basic Diluted 2015 First quarter (1)(2)(3) $ 11,762 $ 10,915 $ 3,171 $ 0.36 $ 0.29 Second quarter (1)(2) 12,740 11,916 3,122 0.35 0.29 Third quarter (2)(4) 13,223 12,402 3,253 0.36 0.30 Fourth quarter (2)(5) 12,976 12,159 3,199 0.36 0.29 2014 First quarter (2)(3) $ 11,315 $ 10,165 $ 2,712 $ 0.27 $ 0.22 Second quarter (1)(2) 11,365 10,266 2,240 0.24 0.21 Third quarter (1)(2) 11,667 10,684 2,306 0.25 0.21 Fourth quarter (1)(2) 11,623 10,751 2,270 0.23 0.21 (1) Interest income and net interest income increased due to loan volume. (2) Net interest income increased due to interest expense decreasing as deposits repriced downward and the deposit mix shifted toward cheaper funding sources. (3) Net income increased due to fees on tax refund processing program. (4) Net income increased due to increased loan volume, offset by a decrease in fees on the tax refund processing program. (5) Interest income, net interest income and net income decreased due to decreased loan volume. |
Derivative Hedging Instruments
Derivative Hedging Instruments | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Hedging Instruments | NOTE 24 - 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 December 31, 2015. Weighted Impact of a Notional Average Rate 1 basis point change Repricing Amount Received/(Paid) in interest rates Frequency Derivative Assets $ 35,534 5.31 % $ 20 Monthly Derivative Liabilities (35,534 ) -5.31 % (20 ) 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. Weighted Impact of a Notional Average Rate 1 basis point change Repricing Amount Received/(Paid) in interest rates Frequency 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. |
Qualified Affordable Housing Pr
Qualified Affordable Housing Project Investments | 12 Months Ended |
Dec. 31, 2015 | |
Federal Home Loan Banks [Abstract] | |
Qualified Affordable Housing Project Investments | NOTE 25 – QUALIFIED AFFORDABLE HOUSING PROJECT INVESTMENTS The Company invests in qualified affordable housing projects. At December 31, 2015 and 2014, the balance of the investment for qualified affordable housing projects was $2,177 and $1,839. These balances are reflected in the other assets line on the consolidated balance sheet. The unfunded commitments related to the investments in qualified affordable housing projects totaled $2,195 and $1,772 at December 31, 2015 and 2014, respectively. During the year ended December 31, 2015 and 2014, the Company recognized amortization expense with respect to its investments in qualified affordable housing projects of $240 and $202, respectively, which was included within pretax income on the consolidated statements of operations. Additionally, during the years ended December 31, 2015 and 2014, the Company recognized tax credits and other benefits from its investment in affordable housing tax credits of $168 and $141, respectively. During the years ended December 31, 2015 and 2014, the Company did not incur impairment losses related to its investment in qualified affordable housing projects. |
Summary of Significant Accoun34
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Nature of Operations and Principles of Consolidation | Nature of Operations and Principles of Consolidation The Company provides financial services through its offices in the Ohio counties of Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Summit, Huron, Ottawa, Madison, Montgomery and Richland. Its primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are residential mortgage, commercial, and installment loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets and commercial and residential real estate. Commercial loans are expected to be repaid from cash flow from operations of businesses. There are no significant concentrations of loans to any one industry or customer. However, our customers’ ability to repay their loans is dependent on the real estate and general economic conditions in the area. Other financial instruments that potentially represent concentrations of credit risk include deposit accounts in other financial institutions. FCIA 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 for the years ended December 31, 2015 and 2014. WSP was formed to hold repossessed assets of CBI’s subsidiaries. WSP revenue was less than 1% of total revenue for the years ended December 31, 2015 and 2014. FCRS was formed in 2012 and remained inactive for the periods presented. |
Use of Estimates | Use of Estimates |
Cash Flows | Cash Flows |
Securities | Securities Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold using the specific identification method. The recent guidance specifies that if (a) a company does not have the intent to sell a debt security prior to recovery and (b) it is more-likely-than-not that it will not have to sell the debt security prior to recovery, the security would not be considered other-than-temporarily impaired unless there is a credit loss. When an entity does not intend to sell the security, and it is more-likely-than-not the entity will not have to sell the security before recovery of its cost basis, it will recognize the credit component of other-than-temporary impairment of a debt security in earnings and the remaining portion in other comprehensive income. For held-to-maturity debt securities, the amount of other-than-temporary impairment recorded in other comprehensive income for the non-credit portion of a previous other-than-temporary impairment should be amortized prospectively over the remaining life of the security on the basis of the timing of future estimated cash flows of the security. For available-for-sale debt securities that management has no intent to sell and believes that it more-likely-than-not will not be required to sell prior to recovery, only the credit loss component of the impairment is recognized in earnings, while the non-credit loss is recognized in accumulated other comprehensive income. The credit loss component recognized in earnings is identified as the amount of principal cash flows not expected to be received over the remaining term of the security as projected based on cash flow projections. Other securities which include FHLB stock, Federal Reserve Bank (“FRB”) stock, Bankers’ Bancshares Inc. (“BB”) stock, and Norwalk Community Development Corp (“NCDC”) stock are carried at cost. |
Loans Held for Sale | Loans Held for Sale: |
Loans | Loans: Interest income on mortgage and commercial loans is discontinued at the time the loan is 90 days delinquent unless the credit is well-secured and in process of collection. Interest income on consumer loans is discontinued when management determines future collection is unlikely. In all cases, loans are placed on nonaccrual or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued, but not received, for loans placed on nonaccrual, is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured |
Purchased Loans | Purchased Loans: Purchased loans are accounted for individually or aggregated into pools of loans based on common risk characteristics (e.g., credit score, loan type, and date of origination). The Company estimates the amount and timing of expected cash flows for each purchased loan or pool, and the expected cash flows in excess of amount paid is recorded as interest income over the remaining life of the loan or pool (accretable yield). The excess of the loan’s, or pool’s, contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). Over the life of the loan or pool, expected cash flows continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected future cash flows is greater than the carrying amount, the excess is recognized as part of future interest income. |
Allowance for Loan Losses | Allowance for Loan Losses: All commercial, commercial real estate and farm real estate loans are monitored on a regular basis with a detailed loan review completed for all loan relationships greater than $500. All commercial, commercial real estate and farm real estate loans that are 90 days past due or in nonaccrual status, are analyzed to determine if they are “impaired”, which means that it is probable that all amounts will not be collected according to the contractual terms of the loan agreement. All loans that are delinquent 90 days are classified as substandard and placed on nonaccrual status unless they are well-secured and in the process of collection. The remaining loans are evaluated and segmented with loans with similar risk characteristics. The Company allocates reserves based on risk categories and portfolio segments described below, which conform to the Company’s asset classification policy. In reviewing risk within Civista’s loan portfolio, management has identified specific segments to categorize loan portfolio risk: (i) Commercial & Agriculture loans; (ii) Commercial Real Estate – Owner Occupied loans; (iii) Commercial Real Estate – Non-Owner Occupied loans; (iv) Residential Real Estate loans; (v) Real Estate Construction loans; (vi) Farm Real Estate loans; and (vii) Consumer and Other loans. Additional information related to economic factors can be found in Note 5. |
Loan Charge-off Policies | Loan Charge-off Policies: |
Troubled Debt Restructurings | Troubled Debt Restructurings: |
Other Real Estate | Other Real Estate: |
Premises and Equipment | Premises and Equipment: |
Federal Home Loan Bank Stock | Federal Home Loan Bank Stock a b c d . |
Federal Reserve Bank Stock | Federal Reserve Bank Stock |
Bank Owned Life Insurance (BOLI) | Bank Owned Life Insurance (BOLI) |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets: Other intangible assets consist of core deposit intangibles arising from whole bank and branch acquisitions. These intangible assets are measured at fair value and then amortized on an accelerated method over their estimated useful lives, which range from five to twelve years. |
Servicing Rights | Servicing Rights |
Long-term Assets | Long-term Assets |
Repurchase Agreements | Repurchase Agreements |
Loan Commitments and Related Financial Instruments | Loan Commitments and Related Financial Instruments: |
Income Taxes | Income Taxes The Company prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. |
Stock-Based Compensation | Stock-Based Compensation Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. |
Retirement Plans | Retirement Plans |
Earnings per Common Share | Earnings per Common Share |
Comprehensive Income | Comprehensive Income |
Loss Contingencies | Loss Contingencies |
Restrictions on Cash | Restrictions on Cash: |
Dividend Restriction | Dividend Restriction |
Fair Value of Financial Instruments | Fair Value of Financial Instruments |
Operating Segments | Operating Segments |
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 August 2015, the FASB issued ASU 2015-14, Revenue from Contract with Customers In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805). In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For all other entities including not-for-profit entities and employee benefit plans within the scope of Topics 960 through 965 on plan accounting, the amendments in this Update are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. All entities that are not public business entities may adopt the amendments in this Update earlier as of the fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations. |
Merger (Tables)
Merger (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Schedule of Financial Information for Former TCNB Included in Consolidated Statement of Operations | The following table presents financial information for the former TCNB included in the Consolidated Statements of Operations from the date of acquisition through December 31, 2015. Actual From (in thousands) Net interest income after provision for loan losses $ 3,155 Noninterest income 138 Net income 1,282 |
Business Acquisition, Unaudited Pro Forma Information | The following table presents unaudited pro forma information for the periods ended December 31, 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 (unaudited) Twelve months ended December 31, 2015 2014 2013 Net interest income after provision for loan losses $ 46,852 $ 44,583 $ 43,197 Noninterest income 14,699 14,297 12,486 Net income 11,931 10,045 7,024 Pro forma earnings per share: Basic $ 1.32 $ 1.06 $ 0.76 Diluted $ 1.09 $ 0.90 $ 0.75 |
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) | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Available for Sale Securities | The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive loss were as follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value 2015 U.S. Treasury securities and obligations of U.S. government agencies $ 40,992 $ 74 $ (129 ) $ 40,937 Obligations of states and political subdivisions 87,255 4,959 (62 ) 92,152 Mortgage-back securities in government sponsored entities 62,135 681 (243 ) 62,573 Total debt securities 190,382 5,714 (434 ) 195,662 Equity securities in financial institutions 481 106 — 587 Total $ 190,863 $ 5,820 $ (434 ) $ 196,249 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value 2014 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-back 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 year end 2015 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available for sale Amortized Cost Fair Value Due in one year or less $ 5,075 $ 5,078 Due from one to five years 31,433 31,442 Due from five to ten years 31,754 33,606 Due after ten years 59,985 62,963 Mortgage-backed securities in government sponsored entities 62,135 62,573 Equity securities in financial institutions 481 587 Total $ 190,863 $ 196,249 |
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: 2015 2014 2013 Sale proceeds $ — $ 18,088 $ 8,686 Gross realized gains — 113 144 Gross realized losses — (1 ) (89 ) Gains (losses) from securities called or settled by the issuer (18 ) 1 149 |
Debt Securities with Unrealized Losses Not Recognized in Income | Debt securities with unrealized losses at year end 2015 and 2014 not recognized in income are as follows: 12 Months or less More than 12 months Total 2015 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 $ 25,464 $ (112 ) $ 1,132 $ (17 ) $ 26,596 $ (129 ) Obligations of states and political subdivisions 2,932 (20 ) 1,469 (42 ) 4,401 (62 ) Mortgage-backed securities in gov’t sponsored entities 27,263 (172 ) 5,041 (71 ) 32,304 (243 ) Total temporarily impaired $ 55,659 $ (304 ) $ 7,642 $ (130 ) $ 63,301 $ (434 ) 12 Months or less More than 12 months Total 2014 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) | 12 Months Ended |
Dec. 31, 2015 | |
Loan balances | Loans at year-end were as follows: 2015 2014 Commercial and Agriculture $ 124,402 $ 113,265 Commercial Real Estate - owner occupied 167,897 143,014 Commercial Real Estate - non-owner occupied 348,439 308,666 Residential Real Estate 236,338 214,537 Real Estate Construction 58,898 65,452 Farm Real Estate 46,993 53,973 Consumer and Other 18,560 15,950 Total Loans 1,001,527 914,857 Allowance for loan losses (14,361 ) (14,268 ) Net loans $ 987,166 $ 900,589 |
Loans to Directors and Executive Officers Including Immediate Families | Loans to principal officers, directors, and their affiliates at year-end 2015 and 2014 were as follows: 2015 2014 Balance - Beginning of year $ 7,031 $ 9,294 New loans and advances 2,147 2,700 Repayments (2,947 ) (2,792 ) Effect of changes to related parties 8,916 (2,171 ) Balance - End of year $ 15,147 $ 7,031 |
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 Non-Owner Occupied 13,411 Residential Real Estate 17,541 Real Estate Construction 3,863 Farm Real Estate 397 Consumer and Other 4,404 Net loans $ 76,444 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 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, the ending allocation of the allowance for loan losses and the loan balances outstanding for the years ended December 31, 2015 and December 31, 2014. The changes can be impacted by overall loan volume, adversely graded loans, historical charge-offs and economic factors. Beginning Charge-offs Recoveries Provision Ending Allowance for loan losses: December 31, 2015 Commercial & Agriculture $ 1,819 $ (190 ) $ 182 $ (333 ) $ 1,478 Commercial Real Estate: Owner Occupied 2,221 (523 ) 187 582 2,467 Non-Owner Occupied 4,334 (81 ) 115 289 4,657 Residential Real Estate 3,747 (1,135 ) 331 1,143 4,086 Real Estate Construction 428 — 5 (62 ) 371 Farm Real Estate 822 — 76 (360 ) 538 Consumer and Other 200 (120 ) 46 256 382 Unallocated 697 — — (315 ) 382 Total $ 14,268 $ (2,049 ) $ 942 $ 1,200 $ 14,361 Beginning Charge-offs Recoveries Provision Ending Allowance for loan losses: December 31, 2014 Commercial & Agriculture $ 2,838 $ (338 ) $ 251 $ (932 ) $ 1,819 Commercial Real Estate: Owner Occupied 2,931 (1,661 ) 360 591 2,221 Non-Owner Occupied 3,888 (198 ) 50 594 4,334 Residential Real Estate 5,224 (2,449 ) 293 679 3,747 Real Estate Construction 184 — 6 238 428 Farm Real Estate 740 — — 82 822 Consumer and Other 217 (135 ) 61 57 200 Unallocated 506 — — 191 697 Total $ 16,528 $ (4,781 ) $ 1,021 $ 1,500 $ 14,268 Beginning Charge- Recoveries Provision Ending Allowance for loan losses: December 31, 2013 Commercial & Agriculture $ 2,811 $ (483 ) $ 141 $ 369 $ 2,838 Commercial Real Estate: Owner Occupied 4,565 (989 ) 265 (910 ) 2,931 Non-Owner Occupied 4,942 (815 ) 184 (423 ) 3,888 Residential Real Estate 5,780 (2,800 ) 391 1,853 5,224 Real Estate Construction 349 (136 ) 108 (137 ) 184 Farm Real Estate 632 (107 ) 67 148 740 Consumer and Other 246 (220 ) 80 111 217 Unallocated 417 — — 89 506 Total $ 19,742 $ (5,550 ) $ 1,236 $ 1,100 $ 16,528 Loans acquired Loans Loans Total December 31, 2015 Allowance for loan losses: Commercial & Agriculture $ — $ 23 $ 1,455 $ 1,478 Commercial Real Estate: Owner Occupied — 103 2,364 2,467 Non-Owner Occupied — — 4,657 4,657 Residential Real Estate 123 137 3,826 4,086 Real Estate Construction — — 371 371 Farm Real Estate — — 538 538 Consumer and Other — — 382 382 Unallocated — — 382 382 Total $ 123 $ 263 $ 13,975 $ 14,361 Outstanding loan balances: Commercial & Agriculture $ 132 $ 873 $ 123,397 $ 124,402 Commercial Real Estate: Owner Occupied — 2,141 165,756 167,897 Non-Owner Occupied — 1,742 346,697 348,439 Residential Real Estate 131 1,642 234,565 236,338 Real Estate Construction — — 58,898 58,898 Farm Real Estate — 953 46,040 46,993 Consumer and Other — 3 18,557 18,560 Total $ 263 $ 7,354 $ 993,910 $ 1,001,527 Loans acquired Loans Loans Total December 31, 2014 Allowance for loan losses: Commercial & Agriculture $ — $ 641 $ 1,178 $ 1,819 Commercial Real Estate: Owner Occupied — 4 2,217 2,221 Non-Owner Occupied — 20 4,314 4,334 Residential Real Estate — 305 3,442 3,747 Real Estate Construction — — 428 428 Farm Real Estate — 53 769 822 Consumer and Other — — 200 200 Unallocated — — 697 697 Total $ — $ 1,023 $ 13,245 $ 14,268 Outstanding loan balances: Commercial & Agriculture $ — $ 2,304 $ 110,961 $ 113,265 Commercial Real Estate: Owner Occupied — 3,348 139,666 143,014 Non-Owner Occupied — 2,176 306,490 308,666 Residential Real Estate — 3,108 211,429 214,537 Real Estate Construction — — 65,452 65,452 Farm Real Estate — 208 53,765 53,973 Consumer and Other — 5 15,945 15,950 Total $ — $ 11,149 $ 903,708 $ 914,857 |
Credit Exposures by Internally Assigned Grades | Pass Special Substandard Doubtful Ending December 31, 2015 Commercial & Agriculture $ 117,739 $ 3,090 $ 3,573 $ — $ 124,402 Commercial Real Estate: Owner Occupied 156,622 5,571 5,704 — 167,897 Non-Owner Occupied 339,734 6,100 2,605 — 348,439 Residential Real Estate 62,147 1,671 7,435 — 71,253 Real Estate Construction 52,399 216 29 — 52,644 Farm Real Estate 39,787 4,024 3,182 — 46,993 Consumer and Other 1,987 3 111 — 2,101 Total $ 770,415 $ 20,675 $ 22,639 $ — $ 813,729 Pass Special Substandard Doubtful Ending December 31, 2014 Commercial & Agriculture $ 106,989 $ 3,446 $ 2,830 $ — $ 113,265 Commercial Real Estate: Owner Occupied 129,849 4,378 8,787 — 143,014 Non-Owner Occupied 299,167 5,682 3,817 — 308,666 Residential Real Estate 49,249 697 8,833 — 58,779 Real Estate Construction 59,584 19 41 — 59,644 Farm Real Estate 51,416 1,737 820 — 53,973 Consumer and Other 1,567 — 53 — 1,620 Total $ 697,821 $ 15,959 $ 25,181 $ — $ 738,961 |
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 December 31, 2015 Performing $ 165,048 $ 6,254 $ 16,458 $ 187,760 Nonperforming 37 — 1 38 Total $ 165,085 $ 6,254 $ 16,459 $ 187,798 Residential Real Estate Consumer Total December 31, 2014 Performing $ 155,758 $ 5,808 $ 14,312 $ 175,878 Nonperforming — — 18 18 Total $ 155,758 $ 5,808 $ 14,330 $ 175,896 |
Aging Analysis of Past Due Loans | The following tables include an aging analysis of the recorded investment of past due loans outstanding as of December 31, 2015 and 2014. 30-59 60-89 90 Days Total Past Current Total Loans Past Due December 31, 2015 Commercial & Agriculture $ 9 $ 32 $ 37 $ 78 $ 124,324 $ 124,402 $ — Commercial Real Estate: Owner Occupied 982 36 284 1,302 166,595 167,897 — Non-Owner Occupied 269 330 123 722 347,717 348,439 — Residential Real Estate 2,845 404 1,725 4,974 231,364 236,338 — Real Estate Construction 8 — — 8 58,890 58,898 — Farm Real Estate — — — — 46,993 46,993 — Consumer and Other 98 68 8 174 18,386 18,560 — Total $ 4,211 $ 870 $ 2,177 $ 7,258 $ 994,269 $ 1,001,527 $ — 30-59 60-89 90 Days Total Past Current Total Loans Past Due December 31, 2014 Commercial & Agriculture $ 58 $ — $ 187 $ 245 $ 113,020 $ 113,265 $ — Commercial Real Estate: 622 251 656 1,529 141,485 143,014 — Owner Occupied Non-Owner Occupied 520 5 2,103 2,628 306,038 308,666 — Residential Real Estate 1,923 721 2,177 4,821 209,716 214,537 — Real Estate Construction 33 — 8 41 65,411 65,452 — Farm Real Estate — — 171 171 53,802 53,973 — Consumer and Other 131 9 37 177 15,773 15,950 18 Total $ 3,287 $ 986 $ 5,339 $ 9,612 $ 905,245 $ 914,857 $ 18 |
Summary of Nonaccrual Loans | The following table presents loans on nonaccrual status as of December 31, 2015 and 2014. 2015 2014 Commercial & Agriculture $ 1,185 $ 1,264 Commercial Real Estate: Owner Occupied 1,645 3,403 Non-Owner Occupied 1,428 2,134 Residential Real Estate 4,542 6,280 Real Estate Construction 29 41 Farm Real Estate 961 394 Consumer and Other 100 42 Total $ 9,890 $ 13,558 |
Schedule of Troubled Debt Restructurings | Loan modifications that are considered TDRs completed during the twelve month periods ended December 31, 2015, 2014 and 2013 were as follows: For the Twelve Month Period Ended Number Pre- Post- Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied — — — Residential Real Estate — — — Real Estate Construction 1 41 41 Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 1 $ 41 $ 41 For the Twelve Month Period Ended Number Pre- Post- Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied — — — Non-Owner Occupied — — — Residential Real Estate 9 619 554 Real Estate Construction 1 35 35 Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 10 $ 654 $ 589 For the Twelve Month Period Ended Number Pre- Post- Commercial & Agriculture — $ — $ — Commercial Real Estate: Owner Occupied 2 547 547 Non-Owner Occupied — — — Residential Real Estate — — — Real Estate Construction — — — Farm Real Estate — — — Consumer and Other — — — Total Loan Modifications 2 $ 547 $ 547 |
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 December 31, 2015 and 2014. December 31, 2015 December 31, 2014 Recorded Unpaid Related Recorded Unpaid Related With no related allowance recorded: Commercial & Agriculture $ 851 $ 1,034 $ 1,377 $ 1,504 Commercial Real Estate: Owner Occupied 1,224 1,343 2,961 3,327 Non-Owner Occupied 1,742 1,826 92 140 Residential Real Estate 965 1,591 1,893 3,487 Farm Real Estate 953 1,026 — — Consumer and Other 3 3 5 5 Total 5,738 6,823 6,328 8,463 With an allowance recorded: Commercial & Agriculture 22 23 $ 23 927 1,056 $ 641 Commercial Real Estate: Owner Occupied 917 999 103 388 387 4 Non-Owner Occupied — — — 2,083 2,287 20 Residential Real Estate 808 683 260 1,215 1,223 305 Farm Real Estate — — — 208 256 53 Total 1,747 1,705 386 4,821 5,209 1,023 Total: Commercial & Agriculture 873 1,057 23 2,304 2,560 641 Commercial Real Estate: Owner Occupied 2,141 2,342 103 3,349 3,714 4 Non-Owner Occupied 1,742 1,826 — 2,175 2,427 20 Residential Real Estate 1,773 2,274 260 3,108 4,710 305 Farm Real Estate 953 1,026 — 208 256 53 Consumer and Other 3 3 — 5 5 — Total $ 7,485 $ 8,528 $ 386 $ 11,149 $ 13,672 $ 1,023 The following tables include the average recorded investment and interest income recognized for impaired financing receivables as of, and for the years ended, December 31, 2015, 2014 and 2013. December 31, 2015 December 31, 2014 Average Interest Average Interest For the year ended: Commercial & Agriculture $ 1,519 $ 72 $ 3,316 $ 104 Commercial Real Estate: Owner Occupied 2,738 139 5,720 200 Non-Owner Occupied 1,946 32 2,767 40 Residential Real Estate 2,544 152 3,291 207 Real Estate Construction 16 — — — Farm Real Estate 653 56 219 19 Consumer and Other 4 — 6 — Total $ 9,420 $ 451 $ 15,319 $ 570 December 31, 2013 Average Interest For the year ended: Commercial & Agriculture $ 4,761 $ 186 Commercial Real Estate: Owner Occupied 6,065 417 Non-Owner Occupied 5,855 85 Residential Real Estate 4,792 282 Real Estate Construction 302 — Farm Real Estate 246 19 Consumer and Other 30 — Total $ 22,051 $ 989 |
Schedule of Changes in Amortized Yield for Purchased Credit Impaired Loans | Changes in the amortizable yield for purchased credit-impaired loans were as follows for the year ended December 31, 2015: At December 31, 2015 (In Thousands) Balance at beginning of period $ — Acquisition of impaired loans 140 Accretion (60 ) Balance at end of period $ 80 |
Components of Purchase Accounting Adjustments, Loans Acquired with Credit Deterioration | The table below presents the components of the purchase accounting adjustments. March 6, 2015 Contractually required payments $ 1,305 Non-accretable discount (691 ) Expected cash flows 614 Accretable discount (140 ) Estimated fair value $ 474 |
Schedule of Loans Acquired and Accounted | The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30: At March 6, 2015 At December 31, 2015 Acquired Loans with Acquired Loans with (In Thousands) Outstanding balance $ 1,305 $ 965 Carrying amount 474 263 |
Other Comprehensive Income (L39
Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Changes in Each Component of Accumulated Other Comprehensive Loss, Net of Tax | The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, as of December 31, 2015, 2014 and 2013. For the Year Ended For the Year Ended For the Year Ended December 31, 2015 December 31, 2014 December 31, 2013 Unrealized Defined Total Unrealized Defined Total Unrealized Defined Total Beginning balance $ 3,730 $ (3,777 ) $ (47 ) $ 341 $ (4,588 ) $ (4,247 ) $ 5,849 $ (7,496 ) $ (1,647 ) Other comprehensive income (loss) before reclassifications (188 ) (449 ) (637 ) 3,464 591 4,055 (5,373 ) — (5,373 ) Amounts reclassified from accumulated other comprehensive loss 12 177 189 (75 ) 220 145 (135 ) 2,908 2,773 Net current-period other comprehensive income (loss) (176 ) (272 ) (448 ) 3,389 811 4,200 (5,508 ) 2,908 (2,600 ) Ending balance $ 3,554 $ (4,049 ) $ (495 ) $ 3,730 $ (3,777 ) $ (47 ) $ 341 $ (4,588 ) $ (4,247 ) |
Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Loss | The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss as of December 31, 2015, 2014 and 2013. Amount Reclassified from (a) For the year ended December 31, Details about Accumulated Other Comprehensive Loss Components 2015 2014 2013 Affected Line Item in the Statement Where Net Income is Presented Unrealized gains (losses) on available-for-sale securities $ (18 ) $ 113 $ 204 Net gain (loss) on sale of securities Tax effect 6 (38 ) (69 ) Income taxes (12 ) 75 135 Amortization of defined benefit pension items Actuarial losses (270 ) (b) (334 ) (b) (4,406 ) (b) Salaries, wages and benefits Tax effect 93 114 1,498 Income taxes (177 ) (220 ) (2,908 ) Total reclassifications for the period $ (189 ) $ (145 ) $ (2,773 ) (a) Amounts in parentheses indicate expenses and other amounts indicate income. (b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Year-End Premises and Equipment | Year-end premises and equipment were as follows: 2015 2014 Land and improvements $ 4,225 $ 3,770 Buildings and improvements 20,856 17,373 Furniture and equipment 15,996 13,942 Total 41,077 35,085 Accumulated depreciation (24,133 ) (20,685 ) Premises and equipment, net $ 16,944 $ 14,400 |
Rent Commitments Under Non-Cancelable Operating Leases | Rent expense was $506, $377 and $367 for 2015, 2014 and 2013, respectively. Rent commitments under non-cancelable operating leases at December 31, 2015 were as follows, before considering renewal options that generally are present. 2016 $ 529 2017 492 2018 307 2019 263 2020 48 Thereafter — Total $ 1,639 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Acquired Intangible Assets | Acquired intangible assets were as follows as of year end. 2015 2014 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization Core deposit and other intangibles $ 7,697 $ 5,876 $ 6,688 $ 5,165 |
Schedule of Estimated Amortization Expense | Estimated amortization expense for each of the next five years and thereafter is as follows: 2016 $ 699 2017 587 2018 111 2019 88 2020 71 Thereafter 265 $ 1,821 |
Interest-Bearing Deposits (Tabl
Interest-Bearing Deposits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Summary of Interest-Bearing Deposits | Interest-bearing deposits as of December 31, 2015 and 2014 were as follows: 2015 2014 Demand $ 176,303 $ 179,388 Statement and Passbook Savings 364,066 318,859 Certificates of Deposit: In excess of $100 53,499 53,669 Other 130,840 139,531 Individual Retirement Accounts 26,710 26,770 Total $ 751,418 $ 718,217 |
Scheduled Maturities of Certificates of Deposit | Scheduled maturities of certificates of deposit, including IRA’s at December 31, 2015 were as follows: 2016 $ 124,120 2017 53,071 2018 14,539 2019 13,508 2020 5,314 Thereafter 497 Total $ 211,049 |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2015 At December 31, 2014 Federal Federal Funds Short-term Funds Short-term Purchased Borrowings Purchased Borrowings Outstanding balance at year end $ — $ 53,700 $ — $ 42,700 Maximum indebtedness during the year — 64,700 — 42,700 Average balance during the year 69 26,880 41 1,951 Average rate paid during the year 0.53 % 0.20 % 0.54 % 0.19 % Interest rate on year end balance — 0.35 % — 0.14 % At December 31, 2013 Federal Funds Short-term Purchased Borrowings Outstanding balance at year end $ — $ — Maximum indebtedness during the year — — Average balance during the year 28 — Average rate paid during the year 0.53 % — Interest rate on year end balance — — |
Federal Home Loan Bank Advanc44
Federal Home Loan Bank Advances (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Scheduled Principal Reductions of Federal Home Loan Bank Advances Outstanding | Scheduled principal reductions of FHLB advances outstanding at December 31, 2015 were as follows: 2016 $ — 2017 2,500 2018 10,000 2019 5,000 Total $ 17,500 |
Securities Sold Under Agreeme45
Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Brokers and Dealers [Abstract] | |
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 December 31, 2015 and December 31, 2014. All of the repurchase agreements are overnight agreements. December 31, 2015 December 31, 2014 Securities pledged for repurchase agreements: U.S. Treasury securities $ 894 $ 876 Obligations of U.S. government agencies 24,146 20,737 Total securities pledged $ 25,040 $ 21,613 Gross amount of recognized liabilities for repurchase agreements $ 25,040 $ 21,613 Amounts related to agreements not included in offsetting disclosures above $ — $ — |
Schedule of Securities Sold Under Agreements to Repurchase | Information concerning securities sold under agreements to repurchase was as follows: 2015 2014 2013 Outstanding balance at year end $ 25,040 $ 21,613 $ 20,053 Average balance during the year 20,086 19,759 20,749 Average interest rate during the year 0.10 % 0.10 % 0.10 % Maximum month-end balance during the year $ 25,040 $ 33,764 $ 24,257 Weighted average interest rate at year end 0.10 % 0.10 % 0.10 % |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income Tax | Income taxes were as follows: 2015 2014 2013 Current $ 5,191 $ 3,151 $ 11 Deferred (410 ) 11 1,362 Income taxes $ 4,781 $ 3,162 $ 1,373 |
Effective Tax Rates Differ from Statutory Federal Income Tax Rate | Effective tax rates differ from the statutory federal income tax rate of 34% due to the following: 2015 2014 2013 Income taxes computed at the statutory federal tax rate $ 5,959 $ 4,315 $ 2,568 Add (subtract) tax effect of: Nontaxable interest income, net of nondeductible interest expense (900 ) (824 ) (781 ) Low income housing tax credit (303 ) (303 ) (280 ) Cash surrender value of BOLI (159 ) (167 ) (189 ) Other 184 141 55 Income tax expense $ 4,781 $ 3,162 $ 1,373 |
Summary of Deferred Tax Assets and Liabilities | Year-end deferred tax assets and liabilities were due to the following: 2015 2014 Deferred tax assets Allowance for loan losses $ 5,005 $ 4,851 Deferred compensation 1,617 1,386 Intangible assets 224 — Pension costs 232 198 Other 99 122 Deferred tax asset 7,177 6,557 Deferred tax liabilities Tax depreciation in excess of book depreciation (95 ) (351 ) Discount accretion on securities (59 ) (63 ) Purchase accounting adjustments (1,340 ) (1,189 ) FHLB stock dividends (1,705 ) (1,687 ) Unrealized gain on securities available for sale (1,831 ) (1,922 ) Other (200 ) (196 ) Deferred tax liability (5,230 ) (5,408 ) Net deferred tax asset $ 1,947 $ 1,149 |
Retirement Plans (Tables)
Retirement Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Information about Pension Plan | Information about the pension plan is as follows: 2015 2014 Change in benefit obligation: Beginning benefit obligation $ 16,953 $ 18,456 Service cost — 306 Interest cost 604 639 Curtailment gain — (4,039 ) Settlement loss 117 55 Actuarial (gain)/loss (6 ) 3,007 Benefits paid (1,340 ) (1,471 ) Ending benefit obligation 16,328 16,953 Change in plan assets, at fair value: Beginning plan assets 16,184 15,466 Actual return 129 703 Employer contribution 700 1,515 Benefits paid (1,340 ) (1,471 ) Administrative expenses (26 ) (29 ) Ending plan assets 15,647 16,184 Funded status at end of year $ (681 ) $ (769 ) |
Components of Net Periodic Pension Expense | The components of net periodic pension expense were as follows: 2015 2014 2013 Service cost $ — $ 306 $ 1,204 Interest cost 604 639 884 Expected return on plan assets (1,088 ) (1,021 ) (965 ) Net amortization and deferral 270 334 698 Net periodic pension cost (benefit) $ (214 ) $ 258 $ 1,821 Net loss (gain) recognized in other comprehensive loss 412 (1,228 ) (4,406 ) Total recognized in net periodic benefit cost and other comprehensive loss (before tax) $ 198 $ (970 ) $ (2,585 ) |
Schedule of Target Allocation and Expected Long-Term Rate of Return by Asset Category | The Company’s pension plan asset allocation at year-end 2015 and 2014 and target allocation for 2016 by asset category are as follows: Percentage of Plan Target Assets Allocation at Year-end Asset Category 2016 2015 2014 Equity securities 20-50 % 48.2 % 46.7 % Debt securities 30-60 47.0 48.3 Money market funds 20-30 4.8 5.0 Total 100.0 % 100.0 % |
Plan's Assets at Fair Value Hierarchy | The following tables set forth by level, within the fair value hierarchy, the pension plan’s assets at fair value as of December 31, 2015 and 2014: December 31, 2015 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 94 $ — $ — $ 94 Bond mutual funds 23 — — 23 Common/collective trust: Bonds 7,338 — — 7,338 Equities 6,315 — — 6,315 Equity market funds: International 357 — — 357 Large cap 1,155 — — 1,155 Mid cap 242 — — 242 Small cap 123 — — 123 Total assets at fair value $ 15,647 $ — $ — $ 15,647 December 31, 2014 Level 1 Level 2 Level 3 Total Assets: Cash $ 3 $ — $ — $ 3 Money market funds 91 — — 91 Bond mutual funds 23 — — 23 Common/collective trust: Bonds 7,802 — — 7,802 Equities 6,383 — — 6,383 Equity market funds: Commodity mutual funds 19 — — 19 International 342 — — 342 Large cap 1,150 — — 1,150 Mid cap 253 — — 253 Small cap 118 — — 118 Total assets at fair value $ 16,184 $ — $ — $ 16,184 |
Summary of Expected Benefit Payments | Expected benefit payments, which reflect expected future service, are as follows: 2016 $ 1,520 2017 1,820 2018 528 2019 1,367 2020 1,033 2021 through 2025 5,565 Total $ 11,833 |
Benefit Obligations [Member] | |
Weighted Average Assumptions Used to Determine Benefit Obligations | The weighted average assumptions used to determine benefit obligations at year-end were as follows: 2015 2014 2013 Discount rate on benefit obligation 4.16 % 3.69 % 4.38 % Long-term rate of return on plan assets 7.00 % 7.00 % 7.00 % Rate of compensation increase 0.00 % 0.00 % 3.00 % |
Net Periodic Pension Cost [Member] | |
Weighted Average Assumptions Used to Determine Benefit Obligations | The weighted average assumptions used to determine net periodic pension cost were as follows: 2015 2014 2013 Discount rate on benefit obligation 3.69 % 4.38 % 3.72 % Long-term rate of return on plan assets 7.00 % 7.00 % 7.00 % Rate of compensation increase 0.00 % 3.00 % 3.00 % |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2015, and changes therein during the twelve months ended: December 31, 2015 Weighted Number of Average Restricted Grant Date Shares Fair Value Nonvested at beginning of period — $ — Granted 16,983 10.82 Vested — — Forfeited — — Nonvested at December 31, 2015 16,983 10.82 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Assets Measured at Fair Value | Assets measured at fair value are summarized below. Fair Value Measurements at December 31, 2015 Using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 40,937 $ — Obligations of states and political subdivisions — 92,152 — Mortgage-backed securities in government sponsored entities — 62,573 — Equity securities in financial institutions — 587 — Fair value swap asset — 1,962 — Liabilities: Fair value swap liability — 1,962 — Assets measured at fair value on a nonrecurring basis: Impaired Loans $ — $ — $ 759 Other Real Estate Owned — — 109 Fair Value Measurements at December 31, 2014 Using: (Level 1) (Level 2) (Level 3) Assets measured at fair value on a recurring basis: U.S. Treasury securities and obligations of U.S. Government agencies $ — $ 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 swap asset — 1,721 — Liabilities: Fair value swap liability — 1,721 — Assets measured at fair value on a nonrecurring basis: Impaired Loans $ — $ — $ 2,690 Other Real Estate Owned — — 550 |
Quantitative Information about Level 3 Fair Value Measurements | The following tables 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, 2015 and 2014. Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Technique Unobservable Input Range Weighted December 31, 2015 Impaired loans $ 759 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% Holding period 0 - 30 months 17 months Other real estate owned $ 109 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% Quantitative Information about Level 3 Fair Value Measurements Fair Value Valuation Technique Unobservable Input Range Weighted December 31, 2014 Impaired loans $ 2,690 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% Holding period 0 - 30 months 16 months Other real estate owned $ 550 Appraisal of collateral Appraisal adjustments 10% - 30% 10% Liquidation expense 0% - 10% 10% |
Carrying Amount and Fair Values of Financial Instruments | The carrying amount and fair value of financial instruments were as follows: Carrying Total Amount Fair Value Level 1 Level 2 Level 3 December 31, 2015 Financial Assets: Cash and due from financial institutions $ 35,561 $ 35,561 $ 35,561 $ — $ — Securities available for sale 196,249 196,249 — 196,249 — Loans, held for sale 2,698 2,698 2,698 — — Loans, net of allowance for loan losses 987,166 986,848 — — 986,848 Other securities 13,452 13,452 13,452 — — Bank owned life insurance 20,104 20,104 20,104 — — Accrued interest receivable 3,902 3,902 3,902 — — Swap asset 1,962 1,962 — 1,962 — Financial Liabilities: Nonmaturing deposits 840,984 840,984 840,984 — — Time deposits 211,049 212,006 — — 212,006 Short-term FHLB advances 53,700 52,906 52,906 — — Long-term FHLB advances 17,500 17,687 — — 17,687 Securities sold under agreement to repurchase 25,040 25,040 25,040 — — Subordinated debentures 29,427 25,572 — — 25,572 Accrued interest payable 120 120 120 — — Swap liability 1,962 1,962 — 1,962 — Carrying Total Amount Fair Value Level 1 Level 2 Level 3 December 31, 2014 Financial Assets: Cash and due from financial institutions $ 29,858 $ 29,858 $ 29,858 $ — $ — Securities available for sale 197,905 197,905 — 197,905 — Loans, held for sale 2,410 2,410 2,410 — — Loans, net of allowance for loan losses 900,589 908,118 — — 908,118 Other securities 12,586 12,586 12,586 — — Bank owned life insurance 19,637 19,637 19,637 — — Accrued interest receivable 3,852 3,852 3,852 — — 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 — — Swap liability 1,721 1,721 — 1,721 — |
Commitments, Contingencies an50
Commitments, Contingencies and Off-Balance Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual Amount of Financial Instruments with Off-Balance-Sheet Risk | The contractual amount of financial instruments with off-balance-sheet risk was as follows at year-end. 2015 2014 Fixed Variable Fixed Variable Rate Rate Rate Rate Commitments to extend credit: Lines of credit and construction loans $ 9,416 $ 195,732 $ 9,405 $ 160,718 Overdraft protection 5 22,119 4 22,122 Letters of credit 200 750 200 1,007 $ 9,621 $ 218,601 $ 9,609 $ 183,847 |
Capital Requirements and Rest51
Capital Requirements and Restriction on Retained Earnings (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Actual Capital Levels and Minimum Required Levels | The Company’s and Civista’s actual capital levels and minimum required levels at December 31, 2015 and 2014 were as follows: To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Purposes Amount Ratio Amount Ratio Amount Ratio 2015 Total Risk Based Capital Consolidated $ 140,088 14.0 % $ 80,050 8.0 % n/a n/a Civista 126,795 12.7 79,871 8.0 $ 99,839 10.0 % Tier I Risk Based Capital Consolidated 127,519 12.7 60,245 6.0 n/a n/a Civista 113,883 11.4 59,938 6.0 79,918 8.0 CET1 Risk Based Capital Consolidated 75,819 7.6 44,893 4.5 n/a n/a Civista 102,755 10.1 45,782 4.5 66,129 6.5 Leverage Consolidated 127,519 10.0 51,008 4.0 n/a n/a Civista 113,883 8.9 51,183 4.0 63,979 5.0 2014 Total Risk Based Capital Consolidated $ 131,581 14.7 % $ 71,609 8.0 % n/a n/a Civista 111,470 12.5 71,341 8.0 $ 89,176 10.0 % Tier I Risk Based Capital Consolidated 120,334 13.4 35,921 4.0 n/a n/a Civista 100,259 11.2 35,807 4.0 53,710 6.0 CET1 Risk Based Capital Consolidated n/a n/a n/a n/a n/a n/a Civista n/a n/a n/a n/a n/a n/a Leverage Consolidated 120,334 10.3 46,732 4.0 n/a n/a Civista 100,259 8.6 46,632 4.0 58,290 5.0 |
Parent Company Only Condensed52
Parent Company Only Condensed Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Schedule of Condensed Balance Sheets | December 31, 2015 2014 Condensed Balance Sheets Assets: Cash $ 7,493 $ 13,663 Securities available for sale 587 540 Investment in bank subsidiary 133,959 117,364 Investment in nonbank subsidiaries 12,615 12,605 Other assets 2,204 3,003 Total assets $ 156,858 $ 147,175 Liabilities: Deferred income taxes and other liabilities $ 2,258 $ 1,839 Subordinated debentures 29,427 29,427 Total liabilities 31,685 31,266 Shareholders’ Equity: Preferred stock 22,273 23,132 Common stock 115,330 114,365 Accumulated earnings (deficit) 5,300 (4,306 ) Treasury Stock (17,235 ) (17,235 ) Accumulated other comprehensive loss (495 ) (47 ) Total shareholders’ equity 125,173 115,909 Total liabilities and shareholders’ equity $ 156,858 $ 147,175 |
Schedule of Condensed Statements of Operations | For the years ended December 31, 2015 2014 2013 Condensed Statements of Operations Dividends from bank subsidiaries $ 14,226 $ 7,339 $ 7,888 Interest expense (760 ) (777 ) (740 ) Pension expense (388 ) (397 ) (4,072 ) Other expense, net (1,755 ) (1,150 ) (952 ) Income before equity in undistributed net earnings of subsidiaries 11,323 5,015 2,124 Income tax benefit 959 763 1,960 Equity in undistributed net earnings of subsidiaries 463 3,750 2,095 Net income $ 12,745 $ 9,528 $ 6,179 Comprehensive income $ 12,297 $ 13,728 $ 3,579 |
Schedule of Condensed Statements of Cash Flows | For the years ended December 31, 2015 2014 2013 Condensed Statements of Cash Flows Operating activities: Net income $ 12,745 $ 9,528 $ 6,179 Adjustment to reconcile net income to net cash from operating activities: Change in other assets and other liabilities 1,324 1,508 (1,620 ) Equity in undistributed net earnings of subsidiaries (463 ) (3,750 ) (2,095 ) Net cash from operating activities 13,606 7,286 2,464 Investing activities: Acquisition and additional capitalization of subsidiary, net of cash acquired (16,637 ) — — Net cash used for investing activities (16,637 ) — — Financing activities: Payment to repurchase preferred stock — (22,857 ) — Proceeds from issuance of preferred stock — — 23,132 Cash dividends paid (3,139 ) (3,338 ) (2,315 ) Net cash (used for) from financing activities (3,139 ) (26,195 ) 20,817 Net change in cash and cash equivalents (6,170 ) (18,909 ) 23,281 Cash and cash equivalents at beginning of year 13,663 32,572 9,291 Cash and cash equivalents at end of year $ 7,493 $ 13,663 $ 32,572 |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings per Common Share | The factors used in the earnings per share computation follow. 2015 2014 2013 Basic Net income $ 12,745 $ 9,528 $ 6,179 Preferred stock dividends 1,577 1,873 1,159 Net income available to common shareholders - basic $ 11,168 $ 7,655 $ 5,020 Weighted average common shares outstanding - basic 7,822,369 7,707,917 7,707,917 Basic earnings per share $ 1.43 $ 0.99 $ 0.65 Diluted Net income available to common shareholders - basic $ 11,168 $ 7,655 $ 5,020 Preferred stock dividends on convertible preferred stock 1,577 1,606 — Net income available to common shareholders - diluted $ 12,745 $ 9,261 $ 5,020 Weighted average common shares outstanding for earnings per common share basic 7,822,369 7,707,917 7,707,917 Add: dilutive effects of convertible preferred shares 3,095,966 3,196,931 113,863 Average shares and dilutive potential common shares outstanding - diluted 10,918,335 10,904,848 7,821,780 Diluted earnings per share $ 1.17 $ 0.85 $ 0.64 |
Quarterly Financial Data (Una54
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Data | Interest Net Interest Net Basic Diluted 2015 First quarter (1)(2)(3) $ 11,762 $ 10,915 $ 3,171 $ 0.36 $ 0.29 Second quarter (1)(2) 12,740 11,916 3,122 0.35 0.29 Third quarter (2)(4) 13,223 12,402 3,253 0.36 0.30 Fourth quarter (2)(5) 12,976 12,159 3,199 0.36 0.29 2014 First quarter (2)(3) $ 11,315 $ 10,165 $ 2,712 $ 0.27 $ 0.22 Second quarter (1)(2) 11,365 10,266 2,240 0.24 0.21 Third quarter (1)(2) 11,667 10,684 2,306 0.25 0.21 Fourth quarter (1)(2) 11,623 10,751 2,270 0.23 0.21 (1) Interest income and net interest income increased due to loan volume. (2) Net interest income increased due to interest expense decreasing as deposits repriced downward and the deposit mix shifted toward cheaper funding sources. (3) Net income increased due to fees on tax refund processing program. (4) Net income increased due to increased loan volume, offset by a decrease in fees on the tax refund processing program. (5) Interest income, net interest income and net income decreased due to decreased loan volume. |
Derivative Hedging Instruments
Derivative Hedging Instruments (Tables) | 12 Months Ended |
Dec. 31, 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 December 31, 2015. Weighted Impact of a Notional Average Rate 1 basis point change Repricing Amount Received/(Paid) in interest rates Frequency Derivative Assets $ 35,534 5.31 % $ 20 Monthly Derivative Liabilities (35,534 ) -5.31 % (20 ) 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. Weighted Impact of a Notional Average Rate 1 basis point change Repricing Amount Received/(Paid) in interest rates Frequency Derivative Assets $ 29,060 5.47 % $ 19 Monthly Derivative Liabilities (29,060 ) -5.47 % (19 ) Monthly Net Exposure $ — $ — |
Summary of Significant Accoun56
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2015USD ($)Segment$ / shares | Dec. 31, 2014USD ($) | Dec. 31, 2013 | |
Significant Accounting Policies [Line Items] | |||
Allowance for loan losses related to commercial, commercial real estate and farm real estate loans | $ 500,000 | ||
Number of days reaching which loans are considered for nonaccrual status | 90 days | 90 days | |
Other assets | $ 9,461,000 | $ 8,209,000 | |
Federal Home Loan Bank par value | $ / shares | $ 100 | ||
Number of operating segments | Segment | 1 | ||
Other Real Estate Owned [Member] | |||
Significant Accounting Policies [Line Items] | |||
Other assets | $ 116,000 | $ 560,000 | |
Unsecured Debt [Member] | |||
Significant Accounting Policies [Line Items] | |||
Retail loans past due charge off period | 90 days | ||
Secured Debt [Member] | |||
Significant Accounting Policies [Line Items] | |||
Residential real estate loans past due assessment of value period | 180 days | ||
Other Debt [Member] | |||
Significant Accounting Policies [Line Items] | |||
Loans past due charged down to the net realizable value period | 90 days | ||
Maximum [Member] | |||
Significant Accounting Policies [Line Items] | |||
Percentage of insurance commission revenue of total revenue | 1.00% | 1.00% | |
Original maturities for cash and cash equivalents | 90 days | ||
Estimated useful life of intangible assets | 12 years | ||
Maximum [Member] | Furniture and equipment [Member] | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of asset | 7 years | ||
Maximum [Member] | Buildings and Improvements [Member] | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of asset | 50 years | ||
Minimum [Member] | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of intangible assets | 5 years | ||
Minimum [Member] | Furniture and equipment [Member] | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of asset | 3 years | ||
Minimum [Member] | Buildings and Improvements [Member] | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of asset | 7 years | ||
WSP [Member] | Maximum [Member] | |||
Significant Accounting Policies [Line Items] | |||
Percentage of insurance commission revenue of total revenue | 1.00% | 1.00% |
Merger - Additional Information
Merger - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Mar. 06, 2015 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Combinations [Line Items] | |||
Goodwill | $ 27,095 | $ 21,720 | |
Merger related costs | 391 | $ 236 | |
Loans acquired with credit deterioration | $ 831 | ||
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 | 76,771 | ||
Assets, Deposit | 86,708 | ||
Goodwill | 5,375 | ||
Cash and short-term investments acquired | 18,152 | ||
Loans acquired | 76,444 | ||
Loans acquired with credit deterioration | 831 | ||
Deposits acquired | $ 86,900 | ||
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 Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 10 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Business Acquisition [Line Items] | ||||||||||||
Net interest income after provision for loan losses | $ 46,192 | $ 40,366 | $ 38,874 | |||||||||
Noninterest income | 14,278 | 13,874 | 12,062 | |||||||||
Net income | $ 3,199 | $ 3,253 | $ 3,122 | $ 3,171 | $ 2,270 | $ 2,306 | $ 2,240 | $ 2,712 | $ 12,745 | $ 9,528 | $ 6,179 | |
Former TCNB Financial Corp [Member] | ||||||||||||
Business Acquisition [Line Items] | ||||||||||||
Net interest income after provision for loan losses | $ 3,155 | |||||||||||
Noninterest income | 138 | |||||||||||
Net income | $ 1,282 |
Merger - Business Acquisition,
Merger - Business Acquisition, Unaudited Pro Forma Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Business Combination, Separately Recognized Transactions [Line Items] | |||||||||||
Net interest income after provision for loan losses | $ 46,192 | $ 40,366 | $ 38,874 | ||||||||
Noninterest income | 14,278 | 13,874 | 12,062 | ||||||||
Net income | $ 3,199 | $ 3,253 | $ 3,122 | $ 3,171 | $ 2,270 | $ 2,306 | $ 2,240 | $ 2,712 | $ 12,745 | $ 9,528 | $ 6,179 |
Basic | $ 0.36 | $ 0.36 | $ 0.35 | $ 0.36 | $ 0.23 | $ 0.25 | $ 0.24 | $ 0.27 | $ 1.43 | $ 0.99 | $ 0.65 |
Diluted | $ 0.29 | $ 0.30 | $ 0.29 | $ 0.29 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.22 | $ 1.17 | $ 0.85 | $ 0.64 |
Pro Forma [Member] | |||||||||||
Business Combination, Separately Recognized Transactions [Line Items] | |||||||||||
Net interest income after provision for loan losses | $ 46,852 | $ 44,583 | $ 43,197 | ||||||||
Noninterest income | 14,699 | 14,297 | 12,486 | ||||||||
Net income | $ 11,931 | $ 10,045 | $ 7,024 | ||||||||
Basic | $ 1.32 | $ 1.06 | $ 0.76 | ||||||||
Diluted | $ 1.09 | $ 0.90 | $ 0.75 |
Merger - Schedule of Recognized
Merger - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Mar. 06, 2015 | Dec. 31, 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 | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 190,863 | $ 192,252 |
Gross Unrealized Gains | 5,820 | 6,262 |
Gross Unrealized Losses | (434) | (609) |
Total securities available for sale, Fair Value | 196,249 | 197,905 |
U.S. Treasury Securities and Obligations of U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 40,992 | 42,910 |
Gross Unrealized Gains | 74 | 115 |
Gross Unrealized Losses | (129) | (123) |
Total securities available for sale, Fair Value | 40,937 | 42,902 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 87,255 | 83,215 |
Gross Unrealized Gains | 4,959 | 5,112 |
Gross Unrealized Losses | (62) | (306) |
Total securities available for sale, Fair Value | 92,152 | 88,021 |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 62,135 | 65,646 |
Gross Unrealized Gains | 681 | 976 |
Gross Unrealized Losses | (243) | (180) |
Total securities available for sale, Fair Value | 62,573 | 66,442 |
Total Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 190,382 | 191,771 |
Gross Unrealized Gains | 5,714 | 6,203 |
Gross Unrealized Losses | (434) | (609) |
Total securities available for sale, Fair Value | 195,662 | 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 | Dec. 31, 2015 | Dec. 31, 2014 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 5,075 | |
Due from one to five years, Amortized Cost | 31,433 | |
Due from five to ten years, Amortized Cost | 31,754 | |
Due after ten years, Amortized Cost | 59,985 | |
Mortgage-backed securities in government sponsored entities, Amortized Cost | 62,135 | |
Equity securities in financial institutions, Amortized Cost | 481 | |
Amortized Cost | 190,863 | $ 192,252 |
Due in one year or less, Fair Value | 5,078 | |
Due from one to five years, Fair Value | 31,442 | |
Due from five to ten years, Fair Value | 33,606 | |
Due after ten years, Fair Value | 62,963 | |
Mortgage-backed securities in government sponsored entities, Fair Value | 62,573 | |
Equity securities in financial institutions, Fair Value | 587 | |
Total, Fair Value | $ 196,249 | $ 197,905 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | Dec. 31, 2015USD ($)Security | Dec. 31, 2014USD ($) |
Amortized Cost and Fair Value Debt Securities [Abstract] | ||
Carrying value of pledged securities | $ | $ 142,888 | $ 137,898 |
Number of securities in portfolio with unrealized losses | Security | 50 |
Securities - Proceeds from Sale
Securities - Proceeds from Sales of Securities, Gross Realized Gains and Losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Amortized Cost and Fair Value Debt Securities [Abstract] | |||
Sale proceeds | $ 18,088 | $ 8,686 | |
Gross realized gains | 113 | 144 | |
Gross realized losses | (1) | (89) | |
Gains (losses) from securities called or settled by the issuer | $ (18) | $ 1 | $ 149 |
Securities - Debt Securities wi
Securities - Debt Securities with Unrealized Losses Not Recognized in Income (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | $ 55,659 | $ 20,806 |
12 Months or less, Unrealized Loss | (304) | (57) |
More than 12 months, Fair Value | 7,642 | 29,027 |
More than 12 months, Unrealized Loss | (130) | (552) |
Total Fair Value | 63,301 | 49,833 |
Total Unrealized Loss | (434) | (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 | 25,464 | 7,664 |
12 Months or less, Unrealized Loss | (112) | (17) |
More than 12 months, Fair Value | 1,132 | 11,888 |
More than 12 months, Unrealized Loss | (17) | (106) |
Total Fair Value | 26,596 | 19,552 |
Total Unrealized Loss | (129) | (123) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 2,932 | 853 |
12 Months or less, Unrealized Loss | (20) | (11) |
More than 12 months, Fair Value | 1,469 | 5,647 |
More than 12 months, Unrealized Loss | (42) | (295) |
Total Fair Value | 4,401 | 6,500 |
Total Unrealized Loss | (62) | (306) |
Mortgage-backed Securities in Government Sponsored Entities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or less, Fair Value | 27,263 | 12,289 |
12 Months or less, Unrealized Loss | (172) | (29) |
More than 12 months, Fair Value | 5,041 | 11,492 |
More than 12 months, Unrealized Loss | (71) | (151) |
Total Fair Value | 32,304 | 23,781 |
Total Unrealized Loss | $ (243) | $ (180) |
Loans - Loan balances (Detail)
Loans - Loan balances (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Mar. 06, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 1,001,527 | $ 914,857 | |
Allowance for loan losses | (14,361) | (14,268) | |
Net loans | 987,166 | 900,589 | |
Commercial and Agriculture [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 124,402 | 113,265 | |
Commercial Real Estate Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 167,897 | 143,014 | |
Commercial Real Estate Non Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 348,439 | 308,666 | |
Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 236,338 | 214,537 | |
Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 58,898 | 65,452 | |
Farm Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 46,993 | 53,973 | |
Consumer and Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | $ 18,560 | $ 15,950 | |
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 | 13,411 | ||
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] | Farm Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total Loans | 397 | ||
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 | Dec. 31, 2015 | Dec. 31, 2014 |
Receivables [Abstract] | ||
Deferred loan fees | $ 78 | $ 237 |
Loans - Loans to Directors and
Loans - Loans to Directors and Executive Officers Including Immediate Families (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Receivables, Other, Related Parties and Retainage [Abstract] | ||
Balance - Beginning of year | $ 7,031 | $ 9,294 |
New loans and advances | 2,147 | 2,700 |
Repayments | (2,947) | (2,792) |
Effect of changes to related parties | 8,916 | (2,171) |
Balance - End of year | $ 15,147 | $ 7,031 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Dec. 31, 2015USD ($) | Jun. 30, 2015 | Dec. 31, 2015USD ($)SecurityLoanLoans | Dec. 31, 2014USD ($)SecurityLoan | Dec. 31, 2013USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Period for calculating Loss migration rates of portfolio segments | 3 years | 3 years | ||||
Allowance for loan losses | $ 14,361 | $ 14,361 | $ 14,268 | |||
Allowance for loan losses look back period | 3 years | 2 years | ||||
Number of loans charged off | Loans | 11 | |||||
Provision for loan losses | $ 1,200 | 1,500 | $ 1,100 | |||
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 | 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 the borrower 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. | |||||
Gross interest income recorded on nonaccrual loans | $ 1,761 | 1,477 | $ 1,783 | |||
Interest income on nonaccrual loans actually included in net income | 766 | $ 766 | $ 719 | 1,155 | ||
Defaulted loans | SecurityLoan | 1 | 0 | ||||
Impaired loans | Greater than $350 | |||||
Loans acquired with credit deterioration | 831 | $ 831 | ||||
Allowance for loan losses recorded for acquired loans | 123 | |||||
Foreclosed assets | 116 | $ 116 | $ 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) | |||||
Provision for loan losses | (333) | (932) | 369 | |||
Residential Mortgage [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Foreclosed assets | 116 | 116 | ||||
Residential mortgages in process of foreclosure | 340 | 340 | ||||
TDRs [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Allowance for loan losses | $ 286 | 286 | $ 895 | $ 750 | ||
Company Collateral [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Provision for loan losses | $ 1,436 |
Allowance for Loan Losses - Cha
Allowance for Loan Losses - Changes in the Allowance for Loan Losses and Loan Balances Outstanding (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | $ 14,268 | $ 16,528 | $ 19,742 |
Charge-offs | (2,049) | (4,781) | (5,550) |
Recoveries | 942 | 1,021 | 1,236 |
Provision | 1,200 | 1,500 | 1,100 |
Ending Balance | 14,361 | 14,268 | 16,528 |
Commercial and Agriculture [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,819 | 2,838 | 2,811 |
Charge-offs | (190) | (338) | (483) |
Recoveries | 182 | 251 | 141 |
Provision | (333) | (932) | 369 |
Ending Balance | 1,478 | 1,819 | 2,838 |
Commercial Real Estate Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 2,221 | 2,931 | 4,565 |
Charge-offs | (523) | (1,661) | (989) |
Recoveries | 187 | 360 | 265 |
Provision | 582 | 591 | (910) |
Ending Balance | 2,467 | 2,221 | 2,931 |
Commercial Real Estate Non Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 4,334 | 3,888 | 4,942 |
Charge-offs | (81) | (198) | (815) |
Recoveries | 115 | 50 | 184 |
Provision | 289 | 594 | (423) |
Ending Balance | 4,657 | 4,334 | 3,888 |
Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 3,747 | 5,224 | 5,780 |
Charge-offs | (1,135) | (2,449) | (2,800) |
Recoveries | 331 | 293 | 391 |
Provision | 1,143 | 679 | 1,853 |
Ending Balance | 4,086 | 3,747 | 5,224 |
Real Estate Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 428 | 184 | 349 |
Charge-offs | (136) | ||
Recoveries | 5 | 6 | 108 |
Provision | (62) | 238 | (137) |
Ending Balance | 371 | 428 | 184 |
Farm Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 822 | 740 | 632 |
Charge-offs | (107) | ||
Recoveries | 76 | 67 | |
Provision | (360) | 82 | 148 |
Ending Balance | 538 | 822 | 740 |
Consumer and Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 200 | 217 | 246 |
Charge-offs | (120) | (135) | (220) |
Recoveries | 46 | 61 | 80 |
Provision | 256 | 57 | 111 |
Ending Balance | 382 | 200 | 217 |
Unallocated [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 697 | 506 | 417 |
Provision | (315) | 191 | 89 |
Ending Balance | $ 382 | $ 697 | $ 506 |
Allowance for Loan Losses - End
Allowance for Loan Losses - Ending Allocation of Allowance for Loan Losses and Loan Balances Outstanding (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment | $ 263 | $ 1,023 | ||
Collectively evaluated for impairment | 13,975 | 13,245 | ||
Total | 14,361 | 14,268 | $ 16,528 | $ 19,742 |
Individually evaluated for impairment | 7,354 | 11,149 | ||
Collectively evaluated for impairment | 993,910 | 903,708 | ||
Total | 1,001,527 | 914,857 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans acquired with credit deterioration | 123 | |||
Loan balance of loans acquired with credit deterioration | 263 | |||
Commercial and Agriculture [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment | 23 | 641 | ||
Collectively evaluated for impairment | 1,455 | 1,178 | ||
Total | 1,478 | 1,819 | 2,838 | 2,811 |
Individually evaluated for impairment | 873 | 2,304 | ||
Collectively evaluated for impairment | 123,397 | 110,961 | ||
Total | 124,402 | 113,265 | ||
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 | 132 | |||
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment | 103 | 4 | ||
Collectively evaluated for impairment | 2,364 | 2,217 | ||
Total | 2,467 | 2,221 | 2,931 | 4,565 |
Individually evaluated for impairment | 2,141 | 3,348 | ||
Collectively evaluated for impairment | 165,756 | 139,666 | ||
Total | 167,897 | 143,014 | ||
Commercial Real Estate Non Owner Occupied [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment | 20 | |||
Collectively evaluated for impairment | 4,657 | 4,314 | ||
Total | 4,657 | 4,334 | 3,888 | 4,942 |
Individually evaluated for impairment | 1,742 | 2,176 | ||
Collectively evaluated for impairment | 346,697 | 306,490 | ||
Total | 348,439 | 308,666 | ||
Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment | 137 | 305 | ||
Collectively evaluated for impairment | 3,826 | 3,442 | ||
Total | 4,086 | 3,747 | 5,224 | 5,780 |
Individually evaluated for impairment | 1,642 | 3,108 | ||
Collectively evaluated for impairment | 234,565 | 211,429 | ||
Total | 236,338 | 214,537 | ||
Residential Real Estate [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans acquired with credit deterioration | 123 | |||
Loan balance of loans acquired with credit deterioration | 131 | |||
Real Estate Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Collectively evaluated for impairment | 371 | 428 | ||
Total | 371 | 428 | 184 | 349 |
Collectively evaluated for impairment | 58,898 | 65,452 | ||
Total | 58,898 | 65,452 | ||
Farm Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Individually evaluated for impairment | 53 | |||
Collectively evaluated for impairment | 538 | 769 | ||
Total | 538 | 822 | 740 | 632 |
Individually evaluated for impairment | 953 | 208 | ||
Collectively evaluated for impairment | 46,040 | 53,765 | ||
Total | 46,993 | 53,973 | ||
Consumer and Other [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Collectively evaluated for impairment | 382 | 200 | ||
Total | 382 | 200 | 217 | 246 |
Individually evaluated for impairment | 3 | 5 | ||
Collectively evaluated for impairment | 18,557 | 15,945 | ||
Total | 18,560 | 15,950 | ||
Unallocated [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Collectively evaluated for impairment | 382 | 697 | ||
Total | $ 382 | $ 697 | $ 506 | $ 417 |
Allowance for Loan Losses - Cre
Allowance for Loan Losses - Credit Exposures by Internally Assigned Grades (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 813,729 | $ 738,961 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 770,415 | 697,821 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 20,675 | 15,959 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 22,639 | 25,181 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 124,402 | 113,265 |
Commercial and Agriculture [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 117,739 | 106,989 |
Commercial and Agriculture [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 3,090 | 3,446 |
Commercial and Agriculture [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 3,573 | 2,830 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 167,897 | 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 | 156,622 | 129,849 |
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 | 5,571 | 4,378 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 5,704 | 8,787 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 348,439 | 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 | 339,734 | 299,167 |
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 | 6,100 | 5,682 |
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 | 2,605 | 3,817 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 71,253 | 58,779 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 62,147 | 49,249 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,671 | 697 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 7,435 | 8,833 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 52,644 | 59,644 |
Real Estate Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 52,399 | 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 | 216 | 19 |
Real Estate Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 29 | 41 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 46,993 | 53,973 |
Farm Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 39,787 | 51,416 |
Farm Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 4,024 | 1,737 |
Farm Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 3,182 | 820 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 2,101 | 1,620 |
Consumer and Other [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 1,987 | 1,567 |
Consumer and Other [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | 3 | |
Consumer and Other [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans with credit exposures as assigned an internal risk grade | $ 111 | $ 53 |
Allowance for Loan Losses - Per
Allowance for Loan Losses - Performing and Nonperforming Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | $ 187,760 | $ 175,878 |
Nonperforming | 38 | 18 |
Total | 187,798 | 175,896 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 165,048 | 155,758 |
Nonperforming | 37 | |
Total | 165,085 | 155,758 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 6,254 | 5,808 |
Total | 6,254 | 5,808 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Performing | 16,458 | 14,312 |
Nonperforming | 1 | 18 |
Total | $ 16,459 | $ 14,330 |
Allowance for Loan Losses - Agi
Allowance for Loan Losses - Aging Analysis of Past Due Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 7,258 | $ 9,612 |
Current | 994,269 | 905,245 |
Total Loans | 1,001,527 | 914,857 |
Past Due 90 Days and Accruing | 18 | |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 78 | 245 |
Current | 124,324 | 113,020 |
Total Loans | 124,402 | 113,265 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,302 | 1,529 |
Current | 166,595 | 141,485 |
Total Loans | 167,897 | 143,014 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 722 | 2,628 |
Current | 347,717 | 306,038 |
Total Loans | 348,439 | 308,666 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,974 | 4,821 |
Current | 231,364 | 209,716 |
Total Loans | 236,338 | 214,537 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8 | 41 |
Current | 58,890 | 65,411 |
Total Loans | 58,898 | 65,452 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 171 | |
Current | 46,993 | 53,802 |
Total Loans | 46,993 | 53,973 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 174 | 177 |
Current | 18,386 | 15,773 |
Total Loans | 18,560 | 15,950 |
Past Due 90 Days and Accruing | 18 | |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,211 | 3,287 |
30-59 Days Past Due [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 9 | 58 |
30-59 Days Past Due [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 982 | 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 | 269 | 520 |
30-59 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,845 | 1,923 |
30-59 Days Past Due [Member] | Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8 | 33 |
30-59 Days Past Due [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 98 | 131 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 870 | 986 |
60-89 Days Past Due [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 32 | |
60-89 Days Past Due [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 36 | 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 | 330 | 5 |
60-89 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 404 | 721 |
60-89 Days Past Due [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 68 | 9 |
90 Days or Greater [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,177 | 5,339 |
90 Days or Greater [Member] | Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 37 | 187 |
90 Days or Greater [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 284 | 656 |
90 Days or Greater [Member] | Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 123 | 2,103 |
90 Days or Greater [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,725 | 2,177 |
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] | Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 171 | |
90 Days or Greater [Member] | Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 8 | $ 37 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 9,890 | $ 13,558 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 1,185 | 1,264 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 1,645 | 3,403 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 1,428 | 2,134 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 4,542 | 6,280 |
Real Estate Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 29 | 41 |
Farm Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | 961 | 394 |
Consumer and Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total, Non-Accrual Status | $ 100 | $ 42 |
Allowance for Loan Losses - Sch
Allowance for Loan Losses - Schedule of Troubled Debt Restructurings (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015USD ($)Contract | Dec. 31, 2014USD ($)Contract | Dec. 31, 2013USD ($)Contract | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 1 | 10 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 41 | $ 654 | $ 547 |
Post-Modification Outstanding Recorded Investment | $ 41 | $ 589 | $ 547 |
Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 547 | ||
Post-Modification Outstanding Recorded Investment | $ 547 | ||
Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 9 | ||
Pre-Modification Outstanding Recorded Investment | $ 619 | ||
Post-Modification Outstanding Recorded Investment | $ 554 | ||
Real Estate Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Number of Contracts | Contract | 1 | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 41 | $ 35 | |
Post-Modification Outstanding Recorded Investment | $ 41 | $ 35 |
Allowance for Loan Losses - Imp
Allowance for Loan Losses - Impaired Financing Receivables - Recorded Investment and Unpaid Principal Balances (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | $ 5,738 | $ 6,328 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 6,823 | 8,463 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 1,747 | 4,821 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 1,705 | 5,209 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 386 | 1,023 |
Impaired financing receivables, Recorded Investment, Total | 7,485 | 11,149 |
Impaired financing receivables, Unpaid Principal Balance, Total | 8,528 | 13,672 |
Impaired financing receivables, Related Allowance, Total | 386 | 1,023 |
Commercial and Agriculture [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 851 | 1,377 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,034 | 1,504 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 22 | 927 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 23 | 1,056 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 23 | 641 |
Impaired financing receivables, Recorded Investment, Total | 873 | 2,304 |
Impaired financing receivables, Unpaid Principal Balance, Total | 1,057 | 2,560 |
Impaired financing receivables, Related Allowance, Total | 23 | 641 |
Commercial Real Estate Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 1,224 | 2,961 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,343 | 3,327 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 917 | 388 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 999 | 387 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 103 | 4 |
Impaired financing receivables, Recorded Investment, Total | 2,141 | 3,349 |
Impaired financing receivables, Unpaid Principal Balance, Total | 2,342 | 3,714 |
Impaired financing receivables, Related Allowance, Total | 103 | 4 |
Commercial Real Estate Non Owner Occupied [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 1,742 | 92 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,826 | 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 | 1,742 | 2,175 |
Impaired financing receivables, Unpaid Principal Balance, Total | 1,826 | 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 | 965 | 1,893 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,591 | 3,487 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 808 | 1,215 |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 683 | 1,223 |
Impaired financing receivables, with an allowance recorded, Related Allowance | 260 | 305 |
Impaired financing receivables, Recorded Investment, Total | 1,773 | 3,108 |
Impaired financing receivables, Unpaid Principal Balance, Total | 2,274 | 4,710 |
Impaired financing receivables, Related Allowance, Total | 260 | 305 |
Farm Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 953 | |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 1,026 | |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, with an allowance recorded, Recorded Investment | 208 | |
Impaired financing receivables, with an allowance recorded, Unpaid Principal Balance | 256 | |
Impaired financing receivables, with an allowance recorded, Related Allowance | 53 | |
Impaired financing receivables, Recorded Investment, Total | 953 | 208 |
Impaired financing receivables, Unpaid Principal Balance, Total | 1,026 | 256 |
Impaired financing receivables, Related Allowance, Total | 53 | |
Consumer and Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Impaired financing receivables, with no related allowance recorded, Recorded Investment | 3 | 5 |
Impaired financing receivables, with no related allowance recorded, Unpaid Principal Balance | 3 | 5 |
Impaired financing receivables, with no related allowance recorded, Related Allowance | 0 | 0 |
Impaired financing receivables, Recorded Investment, Total | 3 | 5 |
Impaired financing receivables, Unpaid Principal Balance, Total | $ 3 | $ 5 |
Allowance for Loan Losses - C78
Allowance for Loan Losses - Changes in the Amortized Yield for Purchased Credit Impaired Loans (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | |
Acquisition of impaired loans | $ 140 |
Accretion | (60) |
Balance at end of period | $ 80 |
Allowance for Loan Losses - Com
Allowance for Loan Losses - Components of Purchase Accounting Adjustments, Loans Acquired with Credit Deterioration (Detail) $ in Thousands | Mar. 06, 2015USD ($) |
Receivables [Abstract] | |
Contractually required payments | $ 1,305 |
Non-accretable discount | (691) |
Expected cash flows | 614 |
Accretable discount | (140) |
Estimated fair value | $ 474 |
Allowance for Loan Losses - S80
Allowance for Loan Losses - Schedule of Loans Acquired and Accounted (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Mar. 06, 2015 |
Receivables [Abstract] | ||
Outstanding balance | $ 965 | $ 1,305 |
Carrying amount | $ 263 | $ 474 |
Allowance for Loan Losses - I81
Allowance for Loan Losses - Impaired Financing Receivables - Average Recorded Investment and Interest Income Recognized (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Financing Receivable, Impaired [Line Items] | |||
Impaired financing receivables, Average Recorded Investment, Total | $ 9,420 | $ 15,319 | $ 22,051 |
Impaired financing receivables, Interest Income Recognized, Total | 451 | 570 | 989 |
Commercial and Agriculture [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired financing receivables, Average Recorded Investment, Total | 1,519 | 3,316 | 4,761 |
Impaired financing receivables, Interest Income Recognized, Total | 72 | 104 | 186 |
Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired financing receivables, Average Recorded Investment, Total | 2,738 | 5,720 | 6,065 |
Impaired financing receivables, Interest Income Recognized, Total | 139 | 200 | 417 |
Commercial Real Estate Non Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired financing receivables, Average Recorded Investment, Total | 1,946 | 2,767 | 5,855 |
Impaired financing receivables, Interest Income Recognized, Total | 32 | 40 | 85 |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired financing receivables, Average Recorded Investment, Total | 2,544 | 3,291 | 4,792 |
Impaired financing receivables, Interest Income Recognized, Total | 152 | 207 | 282 |
Real Estate Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired financing receivables, Average Recorded Investment, Total | 16 | 302 | |
Farm Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired financing receivables, Average Recorded Investment, Total | 653 | 219 | 246 |
Impaired financing receivables, Interest Income Recognized, Total | 56 | 19 | 19 |
Consumer and Other [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired financing receivables, Average Recorded Investment, Total | $ 4 | $ 6 | $ 30 |
Other Comprehensive Income (L82
Other Comprehensive Income (Loss) - Changes in Each Component of Accumulated Other Comprehensive Loss, Net of Tax (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | $ (47) | $ (4,247) | $ (1,647) |
Other comprehensive income (loss) before reclassifications | (637) | 4,055 | (5,373) |
Amounts reclassified from accumulated other comprehensive loss | 189 | 145 | 2,773 |
Total other comprehensive income (loss) | (448) | 4,200 | (2,600) |
Ending balance | (495) | (47) | (4,247) |
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | 3,730 | 341 | 5,849 |
Other comprehensive income (loss) before reclassifications | (188) | 3,464 | (5,373) |
Amounts reclassified from accumulated other comprehensive loss | 12 | (75) | (135) |
Total other comprehensive income (loss) | (176) | 3,389 | (5,508) |
Ending balance | 3,554 | 3,730 | 341 |
Defined Benefit Pension Items [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance | (3,777) | (4,588) | (7,496) |
Other comprehensive income (loss) before reclassifications | (449) | 591 | |
Amounts reclassified from accumulated other comprehensive loss | 177 | 220 | 2,908 |
Total other comprehensive income (loss) | (272) | 811 | 2,908 |
Ending balance | $ (4,049) | $ (3,777) | $ (4,588) |
Other Comprehensive Income (L83
Other Comprehensive Income (Loss) - Amounts Reclassified Out of Each Component of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Income tax expense | $ (4,781) | $ (3,162) | $ (1,373) |
Net income available to common shareholders | 11,168 | 7,655 | 5,020 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Net income available to common shareholders | (189) | (145) | (2,773) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Unrealized gains (losses) on available-for-sale securities | (18) | 113 | 204 |
Income tax expense | 6 | (38) | (69) |
Net income available to common shareholders | (12) | 75 | 135 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Defined Benefit Pension Items [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Actuarial losses | (270) | (334) | (4,406) |
Income tax expense | 93 | 114 | 1,498 |
Net income available to common shareholders | $ (177) | $ (220) | $ (2,908) |
Premises and Equipment - Year-E
Premises and Equipment - Year-End Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 41,077 | $ 35,085 |
Accumulated depreciation | (24,133) | (20,685) |
Premises and equipment, net | 16,944 | 14,400 |
Land and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 4,225 | 3,770 |
Buildings and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 20,856 | 17,373 |
Furniture and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 15,996 | $ 13,942 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation | $ 1,193 | $ 1,176 | $ 1,334 |
Rent expense | $ 506 | $ 377 | $ 367 |
Premises and Equipment - Rent C
Premises and Equipment - Rent Commitments Under Non-cancelable Operating Leases (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Leases [Abstract] | |
2,016 | $ 529 |
2,017 | 492 |
2,018 | 307 |
2,019 | 263 |
2,020 | 48 |
Thereafter | 0 |
Total | $ 1,639 |
Goodwill and Intangible Asset87
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 06, 2015 | |
Goodwill And Intangible Assets [Line Items] | ||||
Goodwill | $ 27,095 | $ 21,720 | ||
Amortization of intangible assets | 711 | $ 769 | $ 846 | |
TCNB Financial Corp [Member] | ||||
Goodwill And Intangible Assets [Line Items] | ||||
Goodwill | $ 5,375 | |||
Goodwill increased during period | $ 5,375 |
Goodwill and Intangible Asset88
Goodwill and Intangible Assets - Schedule of Acquired Intangible Assets (Detail) - Core Deposit and Other Intangibles [Member] - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 7,697 | $ 6,688 |
Accumulated Amortization | $ 5,876 | $ 5,165 |
Goodwill and Intangible Asset89
Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,016 | $ 699 |
2,017 | 587 |
2,018 | 111 |
2,019 | 88 |
2,020 | 71 |
Thereafter | 265 |
Estimated amortization expense | $ 1,821 |
Interest-Bearing Deposits - Sum
Interest-Bearing Deposits - Summary of Interest-Bearing Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Banking and Thrift [Abstract] | ||
Demand | $ 176,303 | $ 179,388 |
Statement and Passbook Savings | 364,066 | 318,859 |
Certificates of Deposit: In excess of $100 | 53,499 | 53,669 |
Certificates of Deposit: Other | 130,840 | 139,531 |
Individual Retirement Accounts | 26,710 | 26,770 |
Total | $ 751,418 | $ 718,217 |
Interest-Bearing Deposits - Sch
Interest-Bearing Deposits - Scheduled Maturities of Certificates of Deposit (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Banking and Thrift [Abstract] | |
2,016 | $ 124,120 |
2,017 | 53,071 |
2,018 | 14,539 |
2,019 | 13,508 |
2,020 | 5,314 |
Thereafter | 497 |
Total | $ 211,049 |
Interest-Bearing Deposits - Add
Interest-Bearing Deposits - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deposits [Line Items] | ||
Total deposits | $ 1,052,033 | $ 968,918 |
Total of CDs and IRAs | 17,904 | |
Principal officers, directors, and their affiliates [Member] | ||
Deposits [Line Items] | ||
Total deposits | $ 6,868 | $ 6,882 |
Short-Term Borrowings - Summary
Short-Term Borrowings - Summary of Federal Funds Purchased and Other Short-term Borrowings (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Federal Funds Purchased [Member] | |||
Short-term Debt [Line Items] | |||
Average balance during the year | $ 69,000 | $ 41,000 | $ 28,000 |
Average rate paid during the year | 0.53% | 0.54% | 0.53% |
Short Term Borrowings [Member] | |||
Short-term Debt [Line Items] | |||
Outstanding balance at year end | $ 53,700,000 | $ 42,700,000 | |
Maximum indebtedness during the year | 64,700,000 | 42,700,000 | |
Average balance during the year | $ 26,880,000 | $ 1,951,000 | |
Average rate paid during the year | 0.20% | 0.19% | |
Interest rate on year end balance | 0.35% | 0.14% |
Federal Home Loan Bank Advanc94
Federal Home Loan Bank Advances - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Banking and Thrift [Abstract] | ||
Advances from FHLB | $ 17,500 | $ 22,500 |
Maturities from January 2017 through October 2019, fixed rates, minimum | 1.50% | |
Maturities from January 2017 through October 2019, fixed rates, maximum | 4.25% | |
Maturities from January 2017 through October 2019, fixed rates, averaging | 2.06% | |
Maturities, year from | 2,017 | |
Maturities, year to | 2,019 | |
Outstanding letters of credit with FHLB | $ 21,200 | 22,700 |
FHLB borrowings collateralized by residential mortgage loans | 138,600 | $ 131,850 |
FHLB maximum borrowing capacity | 132,054 | |
FHLB remaining borrowing capacity | $ 39,654 |
Federal Home Loan Bank Advanc95
Federal Home Loan Bank Advances - Scheduled Principal Reductions of Federal Home Loan Bank Advances Outstanding (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Banking and Thrift [Abstract] | ||
2,016 | $ 0 | |
2,017 | 2,500 | |
2,018 | 10,000 | |
2,019 | 5,000 | |
Total | $ 17,500 | $ 22,500 |
Securities Sold Under Agreeme96
Securities Sold Under Agreements To Repurchase - Summary of Securities Pledged as Collateral Under Repurchase Agreements (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Offsetting Liabilities [Line Items] | ||
Gross amount of recognized liabilities for repurchase agreements | $ 25,040 | $ 21,613 |
Gross amount of recognized liabilities for repurchase agreements | 25,040 | 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 | 894 | 876 |
Gross amount of recognized liabilities for repurchase agreements | 894 | 876 |
Obligations of U.S. Government Agencies [Member] | ||
Offsetting Liabilities [Line Items] | ||
Gross amount of recognized liabilities for repurchase agreements | 24,146 | 20,737 |
Gross amount of recognized liabilities for repurchase agreements | $ 24,146 | $ 20,737 |
Securities Sold Under Agreeme97
Securities Sold Under Agreements to Repurchase - Schedule of Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Debt Disclosure [Abstract] | |||
Outstanding balance at year end | $ 25,040 | $ 21,613 | $ 20,053 |
Average balance during the year | $ 20,086 | $ 19,759 | $ 20,749 |
Average interest rate during the year | 0.10% | 0.10% | 0.10% |
Maximum month-end balance during the year | $ 25,040 | $ 33,764 | $ 24,257 |
Weighted average interest rate at year end | 0.10% | 0.10% | 0.10% |
Securities Sold Under Agreeme98
Securities Sold Under Agreements to Repurchase - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Debt Disclosure [Abstract] | |||
Securities underlying repurchase agreements | $ 25,040 | $ 21,613 | $ 20,053 |
Subordinated Debentures - Addit
Subordinated Debentures - Additional Information (Detail) | 1 Months Ended | 12 Months Ended | |
Apr. 30, 2007USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2007Trust_Preferred_Securities | |
Subordinated Borrowing [Line Items] | |||
Redeem and refinance of floating rate subordinated debenture | $ 5,000,000 | ||
Refinancing at face value, reduction rate | 2.00% | ||
Subordinated debenture, maturity period | 30 years | ||
Subordinated debentures, principal amount percentage | 100.00% | ||
Minimum [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debentures may redeem part of principal amount | $ 1,000,000 | ||
Futura Ban Corp [Member] | |||
Subordinated Borrowing [Line Items] | |||
Number of additional trust preferred securities acquired | Trust_Preferred_Securities | 2 | ||
2.60% Debenture [Member] | |||
Subordinated Borrowing [Line Items] | |||
Debt, face amount | $ 12,500,000 | ||
Debt, interest rate | 2.60% | ||
Redemption of subordinated debentures description | The Company may redeem the subordinated debentures, in whole or in part, in a principal amount with integral multiples of $1,000, on or after June 15, 2010 at 100% of the principal amount, plus accrued and unpaid interest. | ||
Subordinated Debentures [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, maturity date | Jun. 15, 2035 | ||
3.48% Debenture [Member] | |||
Subordinated Borrowing [Line Items] | |||
Debt, face amount | $ 7,500,000 | ||
Debt, interest rate | 3.48% | ||
1.94% Debenture [Member] | |||
Subordinated Borrowing [Line Items] | |||
Debt, face amount | $ 5,000,000 | ||
Debt, interest rate | 1.94% | ||
6.05% Fixed Rate Trust Preferred Securities [Member] | |||
Subordinated Borrowing [Line Items] | |||
Debt, face amount | $ 12,500,000 | ||
Debt, interest rate | 6.05% | ||
Subordinated debenture, maturity term | 5 years | ||
2.00% Debenture [Member] | Futura TPF Trust I [Member] | |||
Subordinated Borrowing [Line Items] | |||
Debt, face amount | $ 2,500,000 | ||
Debt instrument, variable interest rate percentage | 2.00% | ||
2.00% Debenture [Member] | Futura TPF Trust II [Member] | |||
Subordinated Borrowing [Line Items] | |||
Debt, face amount | $ 1,927,000 | ||
Debt instrument, variable interest rate percentage | 2.00% | ||
Subordinated Debenture [Member] | |||
Subordinated Borrowing [Line Items] | |||
Issuance of Trust Preferred Securities in exchange for Subordinated Debentures | $ 5,000,000 | ||
Trust Preferred Securities [Member] | |||
Subordinated Borrowing [Line Items] | |||
Issuance of Trust Preferred Securities in exchange for Subordinated Debentures | 7,500,000 | ||
Trust Preferred Securities [Member] | Futura TPF Trust I [Member] | |||
Subordinated Borrowing [Line Items] | |||
Acquired trust preferred securities | 2,500,000 | ||
Trust Preferred Securities [Member] | Futura TPF Trust II [Member] | |||
Subordinated Borrowing [Line Items] | |||
Acquired trust preferred securities | $ 1,927,000 |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Tax (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current | $ 5,191 | $ 3,151 | $ 11 |
Deferred | (410) | 11 | 1,362 |
Income tax expense | $ 4,781 | $ 3,162 | $ 1,373 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Statutory federal income tax rate | 34.00% | ||
Tax benefit attributable to security gains (losses) | $ 0 | $ 0 | $ 0 |
Liability for uncertain tax positions, current | 0 | ||
Unrecognized tax benefits | $ 0 |
Income Taxes - Effective Tax Ra
Income Taxes - Effective Tax Rates Differ from Statutory Federal Income Tax Rate (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Income taxes computed at the statutory federal tax rate | $ 5,959 | $ 4,315 | $ 2,568 |
Add (subtract) tax effect of: | |||
Nontaxable interest income, net of nondeductible interest expense | (900) | (824) | (781) |
Low income housing tax credit | (303) | (303) | (280) |
Cash surrender value of BOLI | (159) | (167) | (189) |
Other | 184 | 141 | 55 |
Income tax expense | $ 4,781 | $ 3,162 | $ 1,373 |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax assets | ||
Allowance for loan losses | $ 5,005 | $ 4,851 |
Deferred compensation | 1,617 | 1,386 |
Intangible assets | 224 | |
Pension costs | 232 | 198 |
Other | 99 | 122 |
Deferred tax asset | 7,177 | 6,557 |
Deferred tax liabilities | ||
Tax depreciation in excess of book depreciation | (95) | (351) |
Discount accretion on securities | (59) | (63) |
Purchase accounting adjustments | (1,340) | (1,189) |
FHLB stock dividends | (1,705) | (1,687) |
Unrealized gain on securities available for sale | (1,831) | (1,922) |
Other | (200) | (196) |
Deferred tax liability | (5,230) | (5,408) |
Net deferred tax asset | $ 1,947 | $ 1,149 |
Retirement Plans - Additional I
Retirement Plans - Additional Information (Detail) | 1 Months Ended | 12 Months Ended | ||
Oct. 31, 2015USD ($)Employee | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Matching contribution to 401(k) plan | $ 667,000 | $ 394,000 | $ 204,000 | |
Employer matching contribution description | In conjunction with freezing the pension plan, as discussed below, the Company changed the matching contribution calculation from twenty-five percent of the first six percent of an employee's contribution to 100% of an employee's first three percent contributed and 50% of the next two percent contributed. | |||
Pension plan eligibility age of employees | 20 years 6 months | |||
Pension plan eligibility service period of employees | 6 months | |||
Pension plan eligibility service hours of employees | 1000 hours | |||
Additional benefits under pension plan | $ 0 | |||
Effect of curtailment on projected benefit obligation | 4,039,000 | |||
Accumulated other comprehensive loss | 2,666,000 | |||
Interest expense | 3,309,000 | 4,104,000 | 4,907,000 | |
Unrecognized actuarial loss | 4,049,000 | 3,777,000 | ||
Unrecognized actuarial net of tax | 2,086,000 | 1,946,000 | ||
Accumulated benefit obligation for defined benefit pension plan | 16,328,000 | $ 16,953,000 | ||
Net periodic benefit cost over the next fiscal year | $ 332,000 | |||
Rate of compensation increase used to determine the benefit obligation | 0.00% | |||
Long-term rate of return on plan assets | 7.00% | 7.00% | ||
Expected future employer contributions | $ 500,000 | |||
Employer contribution | 700,000 | $ 1,515,000 | ||
Fund status | (681,000) | (769,000) | ||
Total distribution to participant | $ 1,340,000 | 1,471,000 | ||
Supplemental Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Maximum retirement year for participants | 10 years | |||
Liability recorded for supplemental retirement plan | $ 1,775,000 | 1,498,000 | ||
Expenses recorded for supplemental retirement plan | 299,000 | 398,000 | $ 412,000 | |
Total distribution to participant | $ 22,000 | $ 11,000 | ||
Shortfall Agreements [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Pension shortfall expense | $ 380,000 | |||
Interest expense | $ 11,000 | |||
Number of individuals under plan | Employee | 10 |
Retirement Plans - Information
Retirement Plans - Information about Pension Plan (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Change in benefit obligation: | |||
Beginning benefit obligation | $ 16,953 | $ 18,456 | |
Service cost | 306 | $ 1,204 | |
Interest cost | 604 | 639 | 884 |
Curtailment gain | (4,039) | ||
Settlement loss | 117 | 55 | |
Actuarial (gain)/loss | (6) | 3,007 | |
Benefits paid | (1,340) | (1,471) | |
Ending benefit obligation | 16,328 | 16,953 | 18,456 |
Change in plan assets, at fair value: | |||
Beginning plan assets | 16,184 | 15,466 | |
Actual return | 129 | 703 | |
Employer contribution | 700 | 1,515 | |
Benefits paid | (1,340) | (1,471) | |
Administrative expenses | (26) | (29) | |
Ending plan assets | 15,647 | 16,184 | $ 15,466 |
Funded status at end of year | $ (681) | $ (769) |
Retirement Plans - Components o
Retirement Plans - Components of Net Periodic Pension Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | |||
Service cost | $ 306 | $ 1,204 | |
Interest cost | $ 604 | 639 | 884 |
Expected return on plan assets | (1,088) | (1,021) | (965) |
Net amortization and deferral | 270 | 334 | 698 |
Net periodic pension cost (benefit) | (214) | 258 | 1,821 |
Net loss (gain) recognized in other comprehensive loss | 412 | (1,228) | (4,406) |
Total recognized in net periodic benefit cost and other comprehensive loss (before tax) | $ 198 | $ (970) | $ (2,585) |
Retirement Plans - Weighted Ave
Retirement Plans - Weighted Average Assumptions Used to Determine Benefit Obligations (Detail) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Rate of compensation increase | 0.00% | ||
Long-term rate of return on plan assets | 7.00% | 7.00% | |
Benefit Obligations [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate on benefit obligation | 4.16% | 3.69% | 4.38% |
Long-term rate of return on plan assets | 7.00% | 7.00% | 7.00% |
Rate of compensation increase | 0.00% | 0.00% | 3.00% |
Net Periodic Pension Cost [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate on benefit obligation | 3.69% | 4.38% | 3.72% |
Long-term rate of return on plan assets | 7.00% | 7.00% | 7.00% |
Rate of compensation increase | 0.00% | 3.00% | 3.00% |
Retirement Plans - Schedule of
Retirement Plans - Schedule of Target Allocation and Expected Long-Term Rate of Return by Asset Category (Detail) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Percentage of Plan Assets at Year-end | 100.00% | 100.00% |
Equity Securities in Financial Institutions [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation, minimum | 20.00% | |
Target Allocation, maximum | 50.00% | |
Percentage of Plan Assets at Year-end | 48.20% | 46.70% |
Total Debt Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation, minimum | 30.00% | |
Target Allocation, maximum | 60.00% | |
Percentage of Plan Assets at Year-end | 47.00% | 48.30% |
Money Market Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target Allocation, minimum | 20.00% | |
Target Allocation, maximum | 30.00% | |
Percentage of Plan Assets at Year-end | 4.80% | 5.00% |
Retirement Plans - Plan's Asset
Retirement Plans - Plan's Assets at Fair Value Hierarchy (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | $ 15,647 | $ 16,184 | $ 15,466 |
Supplemental Retirement Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 15,647 | ||
Supplemental Retirement Plan [Member] | Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 3 | ||
Supplemental Retirement Plan [Member] | Money Market Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 94 | 91 | |
Supplemental Retirement Plan [Member] | Bond Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 23 | 23 | |
Supplemental Retirement Plan [Member] | Common/Collective Trust, Equities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 6,315 | 6,383 | |
Supplemental Retirement Plan [Member] | Equity Market Funds, Commodity Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 19 | ||
Supplemental Retirement Plan [Member] | Equity Market Funds, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 357 | 342 | |
Supplemental Retirement Plan [Member] | Equity Market Funds, Large Cap [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 1,155 | 1,150 | |
Supplemental Retirement Plan [Member] | Equity Market Funds, Mid Cap [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 242 | 253 | |
Supplemental Retirement Plan [Member] | Equity Market Funds, Small Cap [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 123 | 118 | |
Supplemental Retirement Plan [Member] | Common/Collective Trust, Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 7,338 | 7,802 | |
(Level 1) [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 16,184 | ||
(Level 1) [Member] | Supplemental Retirement Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 15,647 | ||
(Level 1) [Member] | Supplemental Retirement Plan [Member] | Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 3 | ||
(Level 1) [Member] | Supplemental Retirement Plan [Member] | Money Market Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 94 | 91 | |
(Level 1) [Member] | Supplemental Retirement Plan [Member] | Bond Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 23 | 23 | |
(Level 1) [Member] | Supplemental Retirement Plan [Member] | Common/Collective Trust, Equities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 6,315 | 6,383 | |
(Level 1) [Member] | Supplemental Retirement Plan [Member] | Equity Market Funds, Commodity Mutual Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 19 | ||
(Level 1) [Member] | Supplemental Retirement Plan [Member] | Equity Market Funds, International [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 357 | 342 | |
(Level 1) [Member] | Supplemental Retirement Plan [Member] | Equity Market Funds, Large Cap [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 1,155 | 1,150 | |
(Level 1) [Member] | Supplemental Retirement Plan [Member] | Equity Market Funds, Mid Cap [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 242 | 253 | |
(Level 1) [Member] | Supplemental Retirement Plan [Member] | Equity Market Funds, Small Cap [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | 123 | 118 | |
(Level 1) [Member] | Supplemental Retirement Plan [Member] | Common/Collective Trust, Bonds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total assets at fair value | $ 7,338 | $ 7,802 |
Retirement Plans - Summary of E
Retirement Plans - Summary of Expected Benefit Payments (Detail) - Supplemental Retirement Plan [Member] $ in Thousands | Dec. 31, 2015USD ($) |
Defined Benefit Plan Disclosure [Line Items] | |
2,016 | $ 1,520 |
2,017 | 1,820 |
2,018 | 528 |
2,019 | 1,367 |
2,020 | 1,033 |
2021 through 2025 | 5,565 |
Total | $ 11,833 |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 17, 2015 | Dec. 31, 2015 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options granted | 16,983 | ||
Share based compensation expense | $ 106 | ||
Expected future compensation expense | $ 78 | ||
Expected future compensation expense, restricted shares vesting period | 2 years | ||
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 | ||
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) | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options Outstanding, Weighted Average Exercise Price, and Additional Disclosures [Abstract] | |
Number of Restricted Shares, Granted | shares | 16,983 |
Number of Restricted Shares, Vested | shares | 0 |
Number of Restricted Shares, Forfeited | shares | 0 |
Number of Restricted Shares, Nonvested at December 31, 2015 | shares | 16,983 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | $ 10.82 |
Weighted Average Grant Date Fair Value, Vested | $ / shares | 0 |
Weighted Average Grant Date Fair Value, Forfeited | $ / shares | 0 |
Weighted Average Grant Date Fair Value, Nonvested at December, 2015 | $ / shares | $ 10.82 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets Measured at Fair Value (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | $ 759 | $ 2,690 |
Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets | 109 | 550 |
(Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value swap liability | 1,962 | 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 swap asset | 1,962 | 1,721 |
Fair value swap liability | 1,962 | 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 | 40,937 | 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 | 92,152 | 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 | 62,573 | 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 | 759 | 2,690 |
(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 | $ 109 | $ 550 |
Fair Value Measurement - Quanti
Fair Value Measurement - Quantitative Information about Level 3 Fair Value Measurements (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Impaired Loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Estimate | $ 759 | $ 2,690 |
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 | |
Other Real Estate Owned [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value Estimate | $ 109 | $ 550 |
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] | 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] | 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% |
Weighted Average [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 | 10.00% | 10.00% |
Fair Value Assumptions, Holding period | 17 months | 16 months |
Weighted Average [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 | 10.00% | 10.00% |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Amount and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Financial Assets: | ||||
Cash and due from financial institutions | $ 35,561 | $ 29,858 | $ 34,186 | $ 45,963 |
Securities available for sale | 196,249 | 197,905 | ||
Loans, net of allowance for loan losses | 987,166 | 900,589 | ||
Other securities | 13,452 | 12,586 | ||
Bank owned life insurance | 20,104 | 19,637 | ||
Financial Liabilities: | ||||
Time deposits | 211,049 | |||
Short-term FHLB advances | 0 | |||
Long-term FHLB advances | 17,500 | 22,500 | ||
Securities sold under agreement to repurchase | 25,040 | 21,613 | $ 20,053 | |
Carrying Amount [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 35,561 | 29,858 | ||
Securities available for sale | 196,249 | 197,905 | ||
Loans, held for sale | 2,698 | 2,410 | ||
Loans, net of allowance for loan losses | 987,166 | 900,589 | ||
Other securities | 13,452 | 12,586 | ||
Bank owned life insurance | 20,104 | 19,637 | ||
Accrued interest receivable | 3,902 | 3,852 | ||
Swap asset | 1,962 | 1,721 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 840,984 | 748,948 | ||
Time deposits | 211,049 | 219,970 | ||
Short-term FHLB advances | 53,700 | 42,700 | ||
Long-term FHLB advances | 17,500 | 22,500 | ||
Securities sold under agreement to repurchase | 25,040 | 21,613 | ||
Subordinated debentures | 29,427 | 29,427 | ||
Accrued interest payable | 120 | 126 | ||
Swap liability | 1,962 | 1,721 | ||
Total Fair Value [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 35,561 | 29,858 | ||
Securities available for sale | 196,249 | 197,905 | ||
Loans, held for sale | 2,698 | 2,410 | ||
Loans, net of allowance for loan losses | 986,848 | 908,118 | ||
Other securities | 13,452 | 12,586 | ||
Bank owned life insurance | 20,104 | 19,637 | ||
Accrued interest receivable | 3,902 | 3,852 | ||
Swap asset | 1,962 | 1,721 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 840,984 | 748,948 | ||
Time deposits | 212,006 | 221,263 | ||
Short-term FHLB advances | 52,906 | 42,700 | ||
Long-term FHLB advances | 17,687 | 22,699 | ||
Securities sold under agreement to repurchase | 25,040 | 21,613 | ||
Subordinated debentures | 25,572 | 24,688 | ||
Accrued interest payable | 120 | 126 | ||
Swap liability | 1,962 | 1,721 | ||
(Level 1) [Member] | ||||
Financial Assets: | ||||
Cash and due from financial institutions | 35,561 | 29,858 | ||
Loans, held for sale | 2,698 | 2,410 | ||
Other securities | 13,452 | 12,586 | ||
Bank owned life insurance | 20,104 | 19,637 | ||
Accrued interest receivable | 3,902 | 3,852 | ||
Financial Liabilities: | ||||
Nonmaturing deposits | 840,984 | 748,948 | ||
Short-term FHLB advances | 52,906 | 42,700 | ||
Securities sold under agreement to repurchase | 25,040 | 21,613 | ||
Accrued interest payable | 120 | 126 | ||
(Level 2) [Member] | ||||
Financial Assets: | ||||
Securities available for sale | 196,249 | 197,905 | ||
Swap asset | 1,962 | 1,721 | ||
Financial Liabilities: | ||||
Swap liability | 1,962 | 1,721 | ||
(Level 3) [Member] | ||||
Financial Assets: | ||||
Loans, net of allowance for loan losses | 986,848 | 908,118 | ||
Financial Liabilities: | ||||
Time deposits | 212,006 | 221,263 | ||
Long-term FHLB advances | 17,687 | 22,699 | ||
Subordinated debentures | $ 25,572 | $ 24,688 |
Commitments, Contingencies a116
Commitments, Contingencies and Off-Balance-Sheet Risk - Contractual Amount of Financial Instruments with Off-Balance-Sheet Risk (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | $ 9,621 | $ 9,609 |
Variable Rate | 218,601 | 183,847 |
Lines of Credit and Construction Loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 9,416 | 9,405 |
Variable Rate | 195,732 | 160,718 |
Overdraft Protection [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 5 | 4 |
Variable Rate | 22,119 | 22,122 |
Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Fixed Rate | 200 | 200 |
Variable Rate | $ 750 | $ 1,007 |
Commitments, Contingencies a117
Commitments, Contingencies and Off-Balance-Sheet Risk - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 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 | $ 2,448 | $ 3,259 |
Minimum [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Range of fixed interest rate loan commitments | 3.25% | 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% |
Capital Requirements and Res118
Capital Requirements and Restriction on Retained Earnings - Actual Capital Levels and Minimum Required Levels (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Consolidated [Member] | ||
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||
Total Risk Based Capital, Actual, Amount | $ 140,088 | $ 131,581 |
Tier I Risk Based Capital, Actual, Amount | 127,519 | 120,334 |
CET1 Risk Based Capital, Actual, Amount | 75,819 | |
Leverage, Actual, Amount | $ 127,519 | $ 120,334 |
Total Risk Based Capital, Actual, Ratio | 14.00% | 14.70% |
Tier I Risk Based Capital, Actual, Ratio | 12.70% | 13.40% |
CET1 Risk Based Capital, Actual, Ratio | 7.60% | |
Leverage, Actual, Ratio | 10.00% | 10.30% |
Total Risk Based Capital , For Capital Adequacy Purposes, Amount | $ 80,050 | $ 71,609 |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Amount | 60,245 | 35,921 |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Amount | 44,893 | |
Leverage, For Capital Adequacy Purposes, Amount | $ 51,008 | $ 46,732 |
Total Risk Based Capital , For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Ratio | 6.00% | 4.00% |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Ratio | 4.50% | |
Leverage, For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Civista [Member] | ||
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ||
Total Risk Based Capital, Actual, Amount | $ 126,795 | $ 111,470 |
Tier I Risk Based Capital, Actual, Amount | 113,883 | 100,259 |
CET1 Risk Based Capital, Actual, Amount | 102,755 | |
Leverage, Actual, Amount | $ 113,883 | $ 100,259 |
Total Risk Based Capital, Actual, Ratio | 12.70% | 12.50% |
Tier I Risk Based Capital, Actual, Ratio | 11.40% | 11.20% |
CET1 Risk Based Capital, Actual, Ratio | 10.10% | |
Leverage, Actual, Ratio | 8.90% | 8.60% |
Total Risk Based Capital , For Capital Adequacy Purposes, Amount | $ 79,871 | $ 71,341 |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Amount | 59,938 | 35,807 |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Amount | 45,782 | |
Leverage, For Capital Adequacy Purposes, Amount | $ 51,183 | $ 46,632 |
Total Risk Based Capital , For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier I Risk Based Capital, For Capital Adequacy Purposes, Ratio | 6.00% | 4.00% |
CET1 Risk Based Capital, For Capital Adequacy Purposes, Ratio | 4.50% | |
Leverage, For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Total Risk Based Capital , To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | $ 99,839 | $ 89,176 |
Tier I Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | 79,918 | 53,710 |
CET1 Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | 66,129 | |
Leverage, To Be Well Capitalized Under Prompt Corrective Action Purposes, Amount | $ 63,979 | $ 58,290 |
Total Risk Based Capital , To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 10.00% | 10.00% |
Tier I Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 8.00% | 6.00% |
CET1 Risk Based Capital, To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 6.50% | |
Leverage, To Be Well Capitalized Under Prompt Corrective Action Purposes, Ratio | 5.00% | 5.00% |
Capital Requirements and Res119
Capital Requirements and Restriction on Retained Earnings - Additional Information (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | |
Net profits available to pay dividends to CBI | $ 6,863 |
Parent Company Only Condense120
Parent Company Only Condensed Financial Information - Schedule of Condensed Balance Sheets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Assets: | ||||
Securities available for sale | $ 196,249 | $ 197,905 | ||
Other assets | 9,461 | 8,209 | ||
Total assets | 1,315,041 | 1,213,191 | ||
Liabilities: | ||||
Subordinated debentures | 29,427 | 29,427 | ||
Total liabilities | 1,189,868 | 1,097,282 | ||
Shareholders' Equity: | ||||
Common stock | 115,330 | 114,365 | ||
Accumulated earnings (deficit) | 5,300 | (4,306) | ||
Treasury Stock | (17,235) | (17,235) | ||
Accumulated other comprehensive loss | (495) | (47) | $ (4,247) | $ (1,647) |
Total shareholders' equity | 125,173 | 115,909 | 128,376 | 103,980 |
Total liabilities and shareholders' equity | 1,315,041 | 1,213,191 | ||
CBI[Member] | ||||
Assets: | ||||
Cash | 7,493 | 13,663 | $ 32,572 | $ 9,291 |
Securities available for sale | 587 | 540 | ||
Investment in bank subsidiary | 133,959 | 117,364 | ||
Investment in nonbank subsidiaries | 12,615 | 12,605 | ||
Other assets | 2,204 | 3,003 | ||
Total assets | 156,858 | 147,175 | ||
Liabilities: | ||||
Deferred income taxes and other liabilities | 2,258 | 1,839 | ||
Subordinated debentures | 29,427 | 29,427 | ||
Total liabilities | 31,685 | 31,266 | ||
Shareholders' Equity: | ||||
Preferred stock | 22,273 | 23,132 | ||
Common stock | 115,330 | 114,365 | ||
Accumulated earnings (deficit) | 5,300 | (4,306) | ||
Treasury Stock | (17,235) | (17,235) | ||
Accumulated other comprehensive loss | (495) | (47) | ||
Total shareholders' equity | 125,173 | 115,909 | ||
Total liabilities and shareholders' equity | $ 156,858 | $ 147,175 |
Parent Company Only Condense121
Parent Company Only Condensed Financial Information - Schedule of Condensed Statements of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Interest expense | $ (3,309) | $ (4,104) | $ (4,907) | ||||||||
Income tax benefit | 4,781 | 3,162 | 1,373 | ||||||||
Net income | $ 3,199 | $ 3,253 | $ 3,122 | $ 3,171 | $ 2,270 | $ 2,306 | $ 2,240 | $ 2,712 | 12,745 | 9,528 | 6,179 |
Comprehensive income | 12,297 | 13,728 | 3,579 | ||||||||
CBI[Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Dividends from bank subsidiaries | 14,226 | 7,339 | 7,888 | ||||||||
Interest expense | (760) | (777) | (740) | ||||||||
Pension expense | (388) | (397) | (4,072) | ||||||||
Other expense, net | (1,755) | (1,150) | (952) | ||||||||
Income before equity in undistributed net earnings of subsidiaries | 11,323 | 5,015 | 2,124 | ||||||||
Income tax benefit | 959 | 763 | 1,960 | ||||||||
Equity in undistributed net earnings of subsidiaries | 463 | 3,750 | 2,095 | ||||||||
Net income | 12,745 | 9,528 | 6,179 | ||||||||
Comprehensive income | $ 12,297 | $ 13,728 | $ 3,579 |
Parent Company Only Condense122
Parent Company Only Condensed Financial Information - Schedule of Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating activities: | |||||||||||
Net income | $ 3,199 | $ 3,253 | $ 3,122 | $ 3,171 | $ 2,270 | $ 2,306 | $ 2,240 | $ 2,712 | $ 12,745 | $ 9,528 | $ 6,179 |
Investing activities: | |||||||||||
Net cash used for investing activities | (11,904) | (48,496) | (55,790) | ||||||||
Financing activities: | |||||||||||
Payment to repurchase preferred stock | (22,857) | ||||||||||
Proceeds from issuance of preferred stock | 23,132 | ||||||||||
Net cash (used for) from financing activities | 2,534 | 29,282 | 31,202 | ||||||||
Increase (decrease) in cash and due from financial institutions | 5,703 | (4,328) | (11,777) | ||||||||
CBI[Member] | |||||||||||
Operating activities: | |||||||||||
Net income | 12,745 | 9,528 | 6,179 | ||||||||
Adjustment to reconcile net income to net cash from operating activities: | |||||||||||
Change in other assets and other liabilities | 1,324 | 1,508 | (1,620) | ||||||||
Equity in undistributed net earnings of subsidiaries | (463) | (3,750) | (2,095) | ||||||||
Net cash from operating activities | 13,606 | 7,286 | 2,464 | ||||||||
Investing activities: | |||||||||||
Acquisition and additional capitalization of subsidiary, net of cash acquired | (16,637) | ||||||||||
Net cash used for investing activities | (16,637) | ||||||||||
Financing activities: | |||||||||||
Payment to repurchase preferred stock | (22,857) | ||||||||||
Proceeds from issuance of preferred stock | 23,132 | ||||||||||
Cash dividends paid | (3,139) | (3,338) | (2,315) | ||||||||
Net cash (used for) from financing activities | (3,139) | (26,195) | 20,817 | ||||||||
Increase (decrease) in cash and due from financial institutions | (6,170) | (18,909) | 23,281 | ||||||||
Cash and cash equivalents at beginning of year | $ 13,663 | $ 32,572 | 13,663 | 32,572 | 9,291 | ||||||
Cash and cash equivalents at end of year | $ 7,493 | $ 13,663 | $ 7,493 | $ 13,663 | $ 32,572 |
Preferred Shares - Additional i
Preferred Shares - Additional information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Feb. 15, 2014 | Dec. 19, 2013 | Dec. 31, 2014 | Dec. 31, 2015 |
Preferred Stock [Line Items] | ||||
Aggregate purchase price of Preferred stock | $ 22,857 | |||
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 |
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 | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Basic | |||||||||||
Net income | $ 3,199 | $ 3,253 | $ 3,122 | $ 3,171 | $ 2,270 | $ 2,306 | $ 2,240 | $ 2,712 | $ 12,745 | $ 9,528 | $ 6,179 |
Preferred stock dividends | 1,577 | 1,873 | 1,159 | ||||||||
Net income available to common shareholders - basic | $ 11,168 | $ 7,655 | $ 5,020 | ||||||||
Weighted average common shares outstanding - basic | 7,822,369 | 7,707,917 | 7,707,917 | ||||||||
Basic earnings per share | $ 0.36 | $ 0.36 | $ 0.35 | $ 0.36 | $ 0.23 | $ 0.25 | $ 0.24 | $ 0.27 | $ 1.43 | $ 0.99 | $ 0.65 |
Diluted | |||||||||||
Net income available to common shareholders - basic | $ 11,168 | $ 7,655 | $ 5,020 | ||||||||
Preferred stock dividends on convertible preferred stock | 1,577 | 1,606 | |||||||||
Net income available to common shareholders - diluted | $ 12,745 | $ 9,261 | $ 5,020 | ||||||||
Weighted average common shares outstanding for earnings per common share basic | 7,822,369 | 7,707,917 | 7,707,917 | ||||||||
Add: dilutive effects of convertible preferred shares | 3,095,966 | 3,196,931 | 113,863 | ||||||||
Average shares and dilutive potential common shares outstanding - diluted | 10,918,335 | 10,904,848 | 7,821,780 | ||||||||
Diluted earnings per share | $ 0.29 | $ 0.30 | $ 0.29 | $ 0.29 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.22 | $ 1.17 | $ 0.85 | $ 0.64 |
Quarterly Financial Data (Un125
Quarterly Financial Data (Unaudited) - Schedule of Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Statement [Abstract] | |||||||||||
Interest Income | $ 12,976 | $ 13,223 | $ 12,740 | $ 11,762 | $ 11,623 | $ 11,667 | $ 11,365 | $ 11,315 | $ 50,701 | $ 45,970 | $ 44,881 |
Net Interest Income | 12,159 | 12,402 | 11,916 | 10,915 | 10,751 | 10,684 | 10,266 | 10,165 | 47,392 | 41,866 | 39,974 |
Net income | $ 3,199 | $ 3,253 | $ 3,122 | $ 3,171 | $ 2,270 | $ 2,306 | $ 2,240 | $ 2,712 | $ 12,745 | $ 9,528 | $ 6,179 |
Basic Earnings per Common Share | $ 0.36 | $ 0.36 | $ 0.35 | $ 0.36 | $ 0.23 | $ 0.25 | $ 0.24 | $ 0.27 | $ 1.43 | $ 0.99 | $ 0.65 |
Diluted Earnings per Common Share | $ 0.29 | $ 0.30 | $ 0.29 | $ 0.29 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.22 | $ 1.17 | $ 0.85 | $ 0.64 |
Derivative Hedging Instrumen126
Derivative Hedging Instruments - Summary of Interest Rate Swap Transactions (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 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 | $ 35,534,000 | $ 29,060,000 |
Weighted Average Rate Received(Paid) | 5.31% | 5.47% |
Net Exposure, Impact of a 1 basis point change in interest rates | $ 20,000 | $ 19,000 |
Repricing Frequency | Monthly | |
Derivative Financial Instruments, Liabilities [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Net Exposure, Notional Amount | $ (35,534,000) | $ (29,060,000) |
Weighted Average Rate Received(Paid) | 5.31% | 5.47% |
Net Exposure, Impact of a 1 basis point change in interest rates | $ (20,000) | $ (19,000) |
Repricing Frequency | Monthly |
Qualified Affordable Housing127
Qualified Affordable Housing Project Investments - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Investments in Affordable Housing Projects [Abstract] | ||
Investment for qualified affordable housing projects included in other assets | $ 2,177,000 | $ 1,839,000 |
Unfunded commitments related to the investments in qualified affordable housing projects | 2,195,000 | 1,772,000 |
Recognized amortization expense included in pretax income | 240,000 | 202,000 |
Recognized tax credits and other benefits from its investment in affordable housing tax credits | 168,000 | 141,000 |
Impairment losses related to its investment in qualified affordable housing projects | $ 0 | $ 0 |