Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 21, 2014 | Jun. 30, 2013 |
Document Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'FIRST DEFIANCE FINANCIAL CORP | ' | ' |
Entity Central Index Key | '0000946647 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Trading Symbol | 'FDEF | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 9,653,238 | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $210.80 |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents: | ' | ' |
Cash and amounts due from depository institutions | $36,318 | $45,832 |
Federal funds sold | 143,000 | 91,000 |
Cash and cash equivalents at beginning of year | 179,318 | 136,832 |
Securities available-for-sale, carried at fair value | 198,170 | 194,101 |
Securities held-to-maturity, carried at amortized cost (fair value $393 and $516 at December 31, 2013 and 2012 respectively) | 387 | 508 |
Marketable Securities, Total | 198,557 | 194,609 |
Loans held for sale | 9,120 | 22,064 |
Loans receivable, net of allowance of $24,950 and $26,711 at December 31, 2013 and 2012, respectively | 1,555,498 | 1,498,546 |
Mortgage servicing rights | 9,106 | 7,833 |
Accrued interest receivable | 5,778 | 5,594 |
Federal Home Loan Bank (FHLB) stock | 19,350 | 20,655 |
Bank owned life insurance | 42,715 | 41,832 |
Premises and equipment | 38,597 | 39,663 |
Real estate and other assets held for sale (REO) | 5,859 | 3,805 |
Goodwill | 61,525 | 61,525 |
Core deposit and other intangibles | 3,497 | 4,738 |
Deferred taxes | 565 | 78 |
Other assets | 7,663 | 9,174 |
Total assets | 2,137,148 | 2,046,948 |
Deposits: | ' | ' |
Noninterest-bearing | 348,943 | 315,132 |
Interest-bearing | 1,386,849 | 1,352,340 |
Total | 1,735,792 | 1,667,472 |
Advances from the Federal Home Loan Bank | 22,520 | 12,796 |
Securities sold under agreements to repurchase and other | 51,919 | 51,702 |
Subordinated debentures | 36,083 | 36,083 |
Advance payments by borrowers | 1,519 | 1,473 |
Other liabilities | 17,168 | 19,294 |
Total liabilities | 1,865,001 | 1,788,820 |
Commitments and Contingent (Note 6) | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $.01 par value per share: 37,000 shares authorized;no shares issued | 0 | 0 |
Preferred stock, $.01 par value per share: 4,963,000 shares authorized; no shares issued | 0 | 0 |
Common stock, $.01 par value per share: 25,000,000 shares authorized; 12,735,313 and 12,739,496 shares issued and 9,719,521 and 9,729,466 shares outstanding, respectively | 127 | 127 |
Common stock warrant | 878 | 878 |
Additional paid-in capital | 136,403 | 136,046 |
Accumulated other comprehensive income, net of tax of $294 and $2,301, respectively | 545 | 4,274 |
Retained earnings | 182,290 | 164,103 |
Treasury stock, at cost, 3,015,792 and 3,010,030 shares respectively | -48,096 | -47,300 |
Total stockholders' equity | 272,147 | 258,128 |
Total liabilities and stockholders’ equity | $2,137,148 | $2,046,948 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Preferred Stock [Member] | Preferred Stock [Member] | Cumulative Preferred Stock [Member] | Cumulative Preferred Stock [Member] | |||
Held-to-maturity, fair value (in dollars) | $393,000 | $516,000 | ' | ' | ' | ' |
Loans receivable, allowance (in dollars) | 24,950,000 | 26,711,000 | ' | ' | ' | ' |
Preferred stock, par value (in dollars per share) | ' | ' | $0.01 | $0.01 | $0.01 | $0.01 |
Preferred stock, shares authorized | ' | ' | 4,963,000 | 4,963,000 | 37,000 | 37,000 |
Preferred stock, shares issued | ' | ' | 0 | 0 | 0 | 0 |
Preferred Stock, Liquidation Preference, Value (Iin dollars) | ' | ' | ' | ' | 0 | 0 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 | ' | ' | ' | ' |
Common stock, shares authorized | 25,000,000 | 25,000,000 | ' | ' | ' | ' |
Common stock, shares issued | 12,735,313 | 12,739,496 | ' | ' | ' | ' |
Common stock, shares outstanding | 9,719,521 | 9,729,466 | ' | ' | ' | ' |
Accumulated other comprehensive income, tax effect (in dollars) | $294,000 | $2,301,000 | ' | ' | ' | ' |
Treasury stock, shares | 3,015,792 | 3,010,030 | ' | ' | ' | ' |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest Income | ' | ' | ' |
Loans | $68,077 | $72,621 | $78,648 |
Investment securities: | ' | ' | ' |
Taxable | 2,695 | 4,241 | 4,571 |
Tax-exempt | 2,901 | 2,882 | 2,515 |
Interest-bearing deposits | 282 | 300 | 466 |
FHLB stock dividends | 826 | 899 | 867 |
Total interest income | 74,781 | 80,943 | 87,067 |
Interest Expense | ' | ' | ' |
Deposits | 5,913 | 8,169 | 12,175 |
Federal Home Loan Bank advances and other | 434 | 2,424 | 3,203 |
Subordinated debentures | 601 | 971 | 1,278 |
Securities sold under agreement to repurchase | 222 | 373 | 530 |
Total interest expense | 7,170 | 11,937 | 17,186 |
Net interest income | 67,611 | 69,006 | 69,881 |
Provision for loan losses | 1,824 | 10,924 | 12,434 |
Net interest income after provision for loan losses | 65,787 | 58,082 | 57,447 |
Noninterest Income | ' | ' | ' |
Service fees and other charges | 10,045 | 10,779 | 11,387 |
Mortgage banking income | 8,443 | 9,665 | 6,437 |
Insurance commissions | 9,627 | 8,676 | 7,109 |
Gain on sale of non-mortgage loans | 101 | 70 | 361 |
Gain (loss) on sale or call of securities | 97 | 2,139 | 218 |
Other-than-temporary impairment (OTTI) losses on investment securities | ' | ' | ' |
Total gains (impairment losses) on investment securities | -337 | -31 | -44 |
Losses recognized in other comprehensive income | 0 | 26 | 42 |
Net impairment loss recognized in earnings | -337 | -5 | -2 |
Trust income | 761 | 616 | 599 |
Income from bank owned life insurance | 883 | 924 | 929 |
Other noninterest income | 950 | 1,510 | 478 |
Total noninterest income | 30,570 | 34,374 | 27,516 |
Noninterest Expense | ' | ' | ' |
Compensation and benefits | 34,301 | 32,566 | 31,554 |
Occupancy | 6,762 | 7,578 | 7,166 |
FDIC insurance | 1,616 | 2,691 | 2,922 |
Data processing | 5,125 | 4,660 | 4,257 |
Acquisition related charges | 0 | 0 | 234 |
Other noninterest expense | 17,040 | 18,285 | 16,631 |
Total noninterest expense | 64,844 | 65,780 | 62,764 |
Income before income taxes | 31,513 | 26,676 | 22,199 |
Federal income taxes | 9,278 | 8,012 | 6,665 |
Net Income | 22,235 | 18,664 | 15,534 |
Dividends Accrued on Preferred Shares | 0 | -900 | -1,850 |
Accretion on Preferred Shares | 0 | -359 | -178 |
Redemption of Preferred Shares | 0 | 642 | 0 |
Net Income Applicable to Common Shares | $22,235 | $18,047 | $13,506 |
Earnings per common share: | ' | ' | ' |
Basic | $2.28 | $1.86 | $1.44 |
Diluted | $2.19 | $1.81 | $1.42 |
Dividends declared per common share | $0.40 | $0.20 | $0.05 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income | $22,235 | $18,664 | $15,534 |
Change in securities available-for-sale (AFS): | ' | ' | ' |
Unrealized holding gains (losses) on available-for-sale securities arising during the period | -6,309 | 2,360 | 7,404 |
Reclassification adjustment for (gains) losses realized in income | -97 | -2,139 | -218 |
Other-than-temporary impairment losses on AFS securities realized in income | 337 | 5 | 2 |
Net unrealized gains (losses) | -6,069 | 226 | 7,188 |
Income tax effect | 2,124 | -79 | -2,516 |
Net of tax amount | -3,945 | 147 | 4,672 |
Change in unrealized gain on postretirement benefit: | ' | ' | ' |
Net gain (loss) on defined benefit postretirement medical plan realized during the period | 287 | 148 | -537 |
Net amortization and deferral | 46 | 51 | 25 |
Net gain (loss) activity during the period | 333 | 199 | -512 |
Income tax effect | -117 | -69 | 179 |
Net of tax amount | 216 | 130 | -333 |
Total other comprehensive income (loss) | -3,729 | 277 | 4,339 |
Comprehensive income | $18,506 | $18,941 | $19,873 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Common Stock Warrant [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] | Treasury Stock [Member] |
In Thousands | ||||||||
Balance at Dec. 31, 2010 | $240,331 | $36,463 | $127 | $878 | $140,845 | ($342) | $134,988 | ($72,628) |
Net income | 15,534 | ' | ' | ' | ' | ' | 15,534 | ' |
Other comprehensive income (loss) | 4,339 | ' | ' | ' | ' | 4,339 | ' | ' |
Stock option expense | 144 | ' | ' | ' | 144 | ' | ' | ' |
Shares issued under stock option plan | 11 | ' | ' | ' | ' | ' | -3 | 14 |
shares issued capital stock | 19,859 | ' | ' | ' | -5,297 | ' | ' | 25,156 |
Restricted share activity under stock incentive plans | 211 | ' | ' | ' | 136 | ' | ' | 75 |
Shares issued direct purchases | 29 | ' | ' | ' | -3 | ' | ' | 32 |
Preferred stock dividendsaccrued | -1,850 | ' | ' | ' | ' | ' | -1,850 | ' |
Accretion on preferred shares | 0 | 178 | ' | ' | ' | ' | -178 | ' |
Common stock dividends declared | -481 | ' | ' | ' | ' | ' | -481 | ' |
Balance at Dec. 31, 2011 | 278,127 | 36,641 | 127 | 878 | 135,825 | 3,997 | 148,010 | -47,351 |
Net income | 18,664 | ' | ' | ' | ' | ' | 18,664 | ' |
Other comprehensive income (loss) | 277 | ' | ' | ' | ' | 277 | ' | ' |
Stock option expense | 104 | ' | ' | ' | 104 | ' | ' | ' |
Shares issued under stock option plan | 4 | ' | ' | ' | ' | ' | -4 | 8 |
Restricted share activity under stock incentive plans | 146 | ' | ' | ' | 116 | ' | ' | 30 |
Shares issued direct purchases | 14 | ' | ' | ' | 1 | ' | ' | 13 |
Preferred stock dividendsaccrued | -900 | ' | ' | ' | ' | ' | -900 | ' |
Accretion on preferred shares | 0 | 359 | ' | ' | ' | ' | -359 | ' |
Common stock dividends declared | -1,950 | ' | ' | ' | ' | ' | -1,950 | ' |
Shares purchased in Treasury auction | -15,942 | -16,560 | ' | ' | ' | ' | 618 | ' |
Shares purchased in open market | -20,416 | -20,440 | ' | ' | ' | ' | 24 | ' |
Balance at Dec. 31, 2012 | 258,128 | 0 | 127 | 878 | 136,046 | 4,274 | 164,103 | -47,300 |
Net income | 22,235 | ' | ' | ' | ' | ' | 22,235 | ' |
Other comprehensive income (loss) | -3,729 | ' | ' | ' | ' | -3,729 | ' | ' |
Stock option expense | 44 | ' | ' | ' | 44 | ' | ' | ' |
Shares issued under stock option plan | 350 | ' | ' | ' | -34 | ' | -97 | 481 |
Restricted share activity under stock incentive plans | 783 | ' | ' | ' | 327 | ' | -44 | 500 |
Shares issued direct purchases | 64 | ' | ' | ' | 20 | ' | ' | 44 |
Common stock dividends declared | -3,907 | ' | ' | ' | ' | ' | -3,907 | ' |
shares repurchased | -1,821 | ' | ' | ' | ' | ' | ' | -1,821 |
Balance at Dec. 31, 2013 | $272,147 | $0 | $127 | $878 | $136,403 | $545 | $182,290 | ($48,096) |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock options exercised, income tax benefit (in shares) | 35,147 | 500 | 850 |
Capital stock issuance, shares | ' | ' | 1,600,800 |
Shares issued direct purchases (in shares) | 2,768 | 836 | 2,085 |
Shares purchased in Treasury auction (in shares) | ' | 16,560 | ' |
Shares purchased in open market (in shares) | ' | 20,440 | ' |
shares purchased | 70,966 | ' | ' |
Stock Based Compensation Income Tax Benefit | $54 | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Activities | ' | ' | ' |
Net income | $22,235 | $18,664 | $15,534 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Provision for loan losses | 1,824 | 10,924 | 12,434 |
Provision for depreciation | 3,110 | 3,416 | 3,436 |
Net amortization of premium and discounts on loans, securities, deposits and debt obligations | 1,235 | 1,497 | 396 |
Amortization of mortgage servicing rights | 2,098 | 3,562 | 2,169 |
Net (recovery) impairment of mortgage servicing rights | -1,261 | 759 | 404 |
Amortization of intangibles | 1,241 | 1,413 | 1,442 |
Gain on sale of loans | -5,817 | -10,669 | -5,968 |
Loss on sale or disposals of property, plant and equipment | 1 | 179 | 59 |
Loss on sale or write-down of REO | 883 | 427 | 947 |
OTTI losses on investment securities | 337 | 5 | 2 |
(Gain) loss on sale or call of securities | -97 | -2,139 | -218 |
Change in deferred taxes | 1,519 | 779 | 2,839 |
Proceeds from sale of loans held for sale | 308,260 | 520,376 | 263,336 |
Stock option expense | 44 | 104 | 144 |
Restricted stock unit expense | 783 | 146 | 211 |
Origination of loans held for sale | -294,941 | -521,464 | -262,825 |
Income from bank owned life insurance | -883 | -924 | -929 |
Change in interest receivable and other assets | 1,327 | 17 | 2,961 |
Change in accrued interest and other liabilities | -2,535 | 4,838 | 2,365 |
Net cash provided by operating activities | 39,363 | 31,910 | 38,739 |
Investing Activities | ' | ' | ' |
Proceeds from maturities, calls and paydowns of held-to-maturity securities | 121 | 152 | 178 |
Proceeds from maturities, calls and paydowns of available-for-sale securities | 35,072 | 60,057 | 52,097 |
Proceeds from sale of available-for-sale securities | 4,027 | 72,262 | 8,719 |
Proceeds from sale of REO | 2,899 | 3,444 | 9,630 |
Proceeds from sale of office properties and equipment | 0 | 10 | 17 |
Purchases of available-for-sale securities | -49,230 | -91,513 | -120,499 |
Purchases of office properties and equipment | -2,045 | -3,223 | -2,041 |
Investment in bank owned life insurance | 0 | -5,000 | 0 |
Proceeds from FHLB stock redemption | 1,305 | 0 | 357 |
Purchase of portfolio mortgage loans | -4,545 | 0 | -25,842 |
Proceeds from sale of non-mortgage loans | 13,369 | 4,644 | 9,212 |
Net decrease (increase) in loans receivable | -70,845 | -65,005 | 31,137 |
Net cash provided by (used) in investing activities | -69,872 | -24,172 | -40,949 |
Financing Activities | ' | ' | ' |
Net increase (decrease) in deposits | 68,368 | 71,318 | 21,314 |
Repayment of Federal Home Loan Bank long-term advances | -276 | -69,045 | -35,044 |
Proceeds from Federal Home Loan Bank long-term advances | 10,000 | 0 | 0 |
Cash paid for redemption of preferred stock | 0 | -36,358 | 0 |
Increase (decrease) in securities sold under repurchase agreements | 217 | -8,684 | 4,139 |
Cash dividends paid on common stock | -3,907 | -1,950 | -481 |
Cash dividends paid on preferred stock | 0 | -1,136 | -1,850 |
Net cash received from common stock issuance | 0 | 0 | 19,859 |
Net cash paid for repurchase of common stock | -1,821 | 0 | 0 |
Proceeds from exercise of stock options | 350 | 4 | 11 |
Proceeds from treasury stock sales | 64 | 14 | 29 |
Net cash (used) provided by financing activities | 72,995 | -45,837 | 7,977 |
Increase (decrease) in cash and cash equivalents | 42,486 | -38,099 | 5,767 |
Cash and cash equivalents at beginning of period | 136,832 | 174,931 | 169,164 |
Cash and cash equivalents at end of period | 179,318 | 136,832 | 174,931 |
Supplemental cash flow information: | ' | ' | ' |
Interest paid | 7,179 | 12,251 | 17,464 |
Income taxes paid | 10,500 | 4,000 | 4,875 |
Transfers from loans to other real estate owned and other assets held for sale | 5,836 | 4,048 | 4,614 |
Transfer from loans held for sale to loans | 3,231 | 0 | 7,596 |
Securities traded but not yet settled | 742 | 405 | 0 |
Payak-Dubbs [Member] | ' | ' | ' |
Investing Activities | ' | ' | ' |
Net cash paid in Payak-Dubbs acquisition | $0 | $0 | ($3,914) |
Basis_of_Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
1. Basis of Presentation | |
First Defiance Financial Corp. (First Defiance or the Company) is a unitary thrift holding company that conducts business through its three wholly owned subsidiaries, First Federal Bank of the Midwest (First Federal), First Insurance Group of the Midwest, Inc. (First Insurance), and First Defiance Risk Management, Inc. (First Defiance Risk Management). All significant intercompany transactions and balances are eliminated in consolidation. | |
First Federal is primarily engaged in attracting deposits from the general public through its offices and using those and other available sources of funds to originate loans primarily in the counties in which its offices are located. First Federal’s traditional banking activities include originating and servicing residential, commercial and consumer loans and providing a broad range of depository, trust and wealth management services. First Insurance is an insurance agency that does business in the Defiance, Bryan, Bowling Green, Maumee and Oregon, Ohio areas, offering property and casualty, and group health and life insurance products. First Defiance Risk Management was incorporated on December 20, 2012, as a wholly-owned insurance company subsidiary of the Company to insure the Company and its subsidiaries against certain risks unique to the operations of the Company and for which insurance may not be currently available or economically feasible in today’s insurance marketplace. | |
Statement_of_Accounting_Polici
Statement of Accounting Policies | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Significant Accounting Policies [Text Block] | ' | |
2. Statement of Accounting Policies | ||
Use of Estimates | ||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Significant areas where First Defiance uses estimates are the valuation of certain investment securities, the determination of the allowance for loan losses, the valuation of mortgage servicing rights and goodwill, the determination of unrecognized income tax benefits, and the fair value of financial instruments. | ||
Earnings Per Common Share | ||
Basic earnings per common share is computed by dividing net income applicable to common shares (net income less dividend requirements for preferred stock, accretion of preferred stock discount and redemption of preferred stock) by the weighted average number of shares of common stock outstanding during the period. All outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends are considered participating securities for the calculation. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options, warrants, restricted stock awards and stock grants. Also see Note 4. | ||
Comprehensive Income | ||
Comprehensive income (loss) consists of net income and other comprehensive income (loss). Other comprehensive income includes unrealized gains and losses on available-for-sale securities and the net unrecognized actuarial losses and unrecognized prior service costs associated with the Company’s Defined Benefit Postretirement Medical Plan. All items included in other comprehensive income are reported net of tax. See also Notes 5 and 16 and the Statements of Comprehensive Income. | ||
Cash Flows | ||
Cash and cash equivalents include amounts due from banks and overnight investments with the Federal Home Loan Bank (FHLB) and the Federal Reserve Bank (FRB). Cash and amounts due from depository institutions include required balances on hand or on deposit at the FHLB and Federal Reserve of approximately $2,295,000 and $4,200,000, respectively, at December 31, 2013 to meet regulatory reserve and clearing requirements. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions and repurchase agreements. | ||
Investment Securities | ||
Management determines the appropriate classification of debt securities at the time of purchase and evaluates such designation as of each balance sheet date. Debt securities are classified as held-to-maturity when First Defiance has the positive intent and ability to hold the securities to maturity and are reported at cost, adjusted for premiums and discounts that are recognized in interest income using the interest method over the period to maturity. | ||
Debt securities not classified as held-to-maturity and equity securities are classified as available-for-sale. Available-for-sale securities are stated at fair value, with the unrealized gains and losses, net of tax, reported in other comprehensive income (loss) until realized. Realized gains and losses are included in gains (losses) on securities or other-than-temporary impairment losses on securities. Realized gains and losses on securities sold are recognized on the trade date based on the specific identification method. | ||
Interest income includes amortization of purchase premiums and discounts. Premiums and discounts are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are expected. Securities with unrealized losses are reviewed quarterly to determine if value impairment is other–than-temporary. In performing this review management considers the length of time and extent that fair value has been less than cost, the financial condition of the issuer, the impact of changes in market interest rates on market value and whether the Company intends to sell or it would be more than likely required to sell the securities prior to their anticipated recovery. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) other-than-temporary impairment (OTTI) related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. | ||
FHLB Stock | ||
As a member of the FHLB System, First Federal is required to own stock of the FHLB of Cincinnati in an amount principally equal to 0.15% of total assets plus an amount of at least 2% but no more than 4% of its non-grandfathered mission asset activity (as defined in the FHLB’s regulations). First Federal is permitted to own stock in excess of the minimum requirement. FHLB stock is a restricted equity security that does not have a readily determinable fair value and is carried at cost. It is evaluated for impairment based upon the ultimate recovery of par value. Both cash and stock dividends are reported as income. At December 31, 2013, the Company holds $19.3 million at the FHLB of Cincinnati and $10,000 at the FHLB of Indianapolis. | ||
Loans Receivable | ||
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal amount outstanding, net of deferred loan fees and costs, purchase premiums and discounts and the allowance for loan losses. Deferred fees net of deferred incremental loan origination costs, are amortized to interest income generally over the contractual life of the loan using the interest method without anticipating prepayments. The recorded investment in loans includes accrued interest receivable and net deferred fees and costs and undisbursed loan amounts. | ||
Mortgage loans originated and intended for sale in the secondary market are classified as loans held for sale and are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Mortgage loans held for sale are generally sold with servicing rights retained. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing right. Gains or losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. | ||
During 2013, 2012 and 2011, the Company realized losses totaling $597,000, $73,000 and $413,000 pertaining to loans sold to Fannie Mae and Freddie Mac but repurchased due to underwriting issues. Repurchase losses are recognized when the Company determines they are probable and estimable. $67,000 was accrued at December 31, 2013 while no amount was accrued at December 31, 2012 and 2011 for such losses. | ||
Interest receivable is accrued on loans and credited to income as earned. The accrual of interest on loans 90 days delinquent or impaired is discontinued when, in management’s opinion, the borrower may be unable to meet payments as they become due. For these loans, interest accrual is only to the extent cash payments are received. The accrual of interest on these loans is generally resumed after a pattern of repayment has been established and the collection of principal and interest is reasonably assured. | ||
Acquired Loans | ||
Valuation allowances for all acquired loans subject to FASB ASC Topic 310 reflect only those losses incurred after acquisition—that is, the present value of cash flows expected at acquisition that are not expected to be collected. | ||
The Company acquires loans individually and in groups or portfolios. At acquisition, the Company reviews each loan to determine whether there is evidence of deterioration of credit quality since origination and if it is probable that it will be unable to collect all amounts due according to the loan’s contractual terms. If both conditions exist, the Company determines whether each such loan is to be accounted for individually or whether such loans will be assembled into pools of loans based on common risk characteristics (credit score, loan type and date of origination). The Company considers expected prepayments, and estimates the amount and timing of undiscounted expected principal, interest, and other cash flows (expected at acquisition) for each loan and subsequently aggregated pool of loans. | ||
The Company determines the excess of the loan’s or pool’s scheduled contractual principal and contractual interest payments over all cash flows expected at acquisition as an amount that should not be accreted (nonaccretable difference). The remaining amount—representing the excess of the loan’s cash flows expected to be collected over the amount paid—is accreted into interest income over the remaining life of the loan or pool (accretable yield). | ||
Over the life of the loan or pool, the Company continues to estimate cash flows expected to be collected, and evaluates whether the present value of its loans determined using the effective interest rates has decreased and, if so, recognizes a loss. The present value of any subsequent increase in the loan’s or pool’s actual cash flows or cash flows expected to be collected is used first to reverse any existing valuation allowance for that loan or pool. For any remaining increases in cash flows expected to be collected, the Company adjusts the amount of accretable yield recognized on a prospective basis over the loan’s or pool’s remaining life. | ||
Allowance for Loan Losses | ||
The allowance for loan losses is maintained at a level believed adequate by management to absorb probable incurred losses in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, an assessment of individual problem loans, actual loss experience, current economic events in specific industries and geographical areas and other pertinent factors, including general economic conditions. Determination of the allowance is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience and consideration of economic trends, all of which may be susceptible to significant change. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. | ||
During 2012, First Defiance changed the process used to calculate the historical loss percentages included in the general allocation. Previously, all charge offs processed against loans were included in the period they were incurred with no consideration given to when a specific reserve was established. During 2012, the historical loss calculation included specific reserves on collaterally dependent impaired loans in the quarter in which the loss was identified and included charge-offs on loans that did not previously have specific reserves. | ||
During 2013, management elected to return to using a three year look-back period in calculating the historical loss ratio. Management is not certain that the relatively low levels of charge offs incurred in the recent quarters are sustainable given the continued low levels of economic growth in the Company’s markets warranting the need to return to a three year look-back. All quarters are given equal weighting in the calculation, which is unchanged from 2012. | ||
Loan losses are charged off against the allowance when in management’s estimation it is unlikely that the loan will be collected, while recoveries of amounts previously charged off are credited to the allowance. A provision for loan loss is charged to operations based on management’s periodic evaluation of the factors previously mentioned, as well as other pertinent factors in order to maintain the allowance for loan losses at the level deemed adequate by management. The determination of whether a loan is considered past due or delinquent is based on the contractual payment terms. Loans are considered past due when the contractual amounts due with respect to principal and interest are not received within 30 days of the contractual due date. All loans are placed on nonaccrual status at 90 days past due unless the loan is adequately secured and is in process of collection. Any loan in the portfolio may be placed on nonaccrual status prior to becoming 90 days past due when collection of principal or interest is in doubt. | ||
The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. Impaired loans have been recognized in conformity with FASB ASC Topic 310. | ||
A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loans agreement. Loans, for which terms have been modified and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. A cash flow analysis of the net present value is performed and an allowance may be established based on the outcome of that analysis, or if the loan is deemed to be collateral dependent an allowance is established based on the fair value of collateral. All modifications are reviewed by the First Federal’s senior loan committee to determine whether or not the modification constitutes a troubled debt restructure. Commercial and commercial real estate loans are individually evaluated for impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net of the allowance allocation which is determined based on the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Large groups of smaller balance homogeneous loans, such as consumer and residential real estate loans, are collectively evaluated for impairment, and accordingly, they are not separately identified for impairment disclosures. | ||
The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent three years. Loss experience is adjusted for other economic factors based on the identified risks, credit related or trends present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The following portfolio segments have been identified: | ||
Commercial Real Estate Loans (consisting of multi-family residential and non-residential): Commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans. These loans are viewed primarily as cash flow loans and the repayment of these loans is largely dependent on the successful operation of the property. Loan performance may be adversely affected by factors impacting the general economy or conditions specific to the real estate market such as geographic location and/or property type. | ||
Commercial Loans: Commercial credit is extended primarily to middle market customers. Such credits are typically comprised of working capital loans, loans for physical asset expansion, asset acquisition loans and other business loans. Loans to closely held businesses will generally be guaranteed in full or for a meaningful amount by the businesses' principal owners. Commercial loans are made based primarily on the historical and projected cash flow of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not behave as forecasted and collateral securing loans may fluctuate in value due to economic or individual performance factors. Minimum standards and underwriting guidelines have been established for all commercial loan types. | ||
Consumer: Consumer loans are generally made to borrowers for a specific consumer purchase and are made based on their ability to repay with their current debt to income as well as the underlying collateral value of the item being purchased. Credit scores are part of the decision process of whether or not credit is extended. Minimum standards and underwriting guidelines have been established for all consumer loan types. | ||
1-4 Family Residential Real Estate: 1-4 family residential real estate loans can be categorized two different ways. One part of this portfolio is owner occupied and are made based primarily on the ability of the individual borrower to support the payments as well as the payments of any other debt the borrower may have outstanding at the time the loan is made. The other part of this portfolio is non-owner occupied income producing property and is made primarily based on the cash flow stream from rental income as well as the cash flow support from the borrower’s unrelated cash flow. Both types of loans have a secondary repayment source of the underlying collateral and generally the loans are not extended at higher than an 80% LTV. Minimum standards and underwriting guidelines have been established for all 1-4 family residential real estate loan types. | ||
Construction: The Company defines construction loans as loans where the loan proceeds are controlled by the Company and used exclusively for the improvement of real estate in which the Company holds a mortgage. | ||
Home Equity and Improvement: Home Equity and Improvement loans are made to borrowers based on their ability to repay with their current debt to income as well as the underlying collateral value of the real estate taken as security. Minimum standards and underwriting guidelines have been established for all 1-4 family residential real estate loan types. | ||
Consumer, 1-4 family residential real estate (including construction) and home equity and improvement loans are subject to adverse employment conditions in the local economy which could increase default rate on loans. | ||
Servicing Rights | ||
Servicing rights are recognized separately when they are acquired through sales of loans. Servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. The Company compares the valuation model inputs and results to published industry data in order to validate the model results and assumptions. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans , driven, generally, by changes in market interest rates. | ||
Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with mortgage banking income on the income statement. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. | ||
Servicing fee income, which is reported on the income statement with mortgage banking income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Servicing fees totaled $3.6 million, $3.4 million and $3.4 million for the years ended December 31, 2013, 2012 and 2011. Late fees and ancillary fees related to loan servicing are not material. See Note 8. | ||
Bank Owned Life Insurance | ||
The Company has purchased life insurance policies on certain key employees. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. | ||
Premises and Equipment and Long Lived Assets | ||
Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation and amortization computed principally by the straight-line method over the following estimated useful lives: | ||
Buildings and improvements | 20 to 50 years | |
Furniture, fixtures and equipment | 3 to 15 years | |
Long-lived assets to be held and those to be disposed of and certain intangibles are periodically evaluated for impairment. See Note 9. | ||
Goodwill and Other Intangibles | ||
Goodwill resulting from business combinations prior to January 1, 2009 represents the excess of the purchase price over the fair value of the net assets of businesses acquired. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually. The Company has selected November 30 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on First Defiance’s balance sheet. | ||
Other intangible assets consist of core deposit and acquired customer relationship intangible assets arising from whole bank, insurance and branch acquisitions. They are initially recorded at fair value and then amortized on an accelerated basis over their estimated lives, which range from five years for non-compete agreements to 10 to 20 years for core deposit and customer relationship intangibles. See Note 10. | ||
Real Estate and Other Assets Held for Sale | ||
Other assets held for sale are comprised of properties acquired through foreclosure proceedings or acceptance of a deed in lieu of foreclosure. These assets are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. Losses arising from the acquisition of such property are charged against the allowance for loan losses at the time of acquisition. These properties are carried at the lower of cost or fair value, less estimated costs to dispose. If fair value declines subsequent to foreclosure, the property is written down against expense. Costs after acquisition are expensed. | ||
Stock Compensation Plans | ||
Compensation cost is recognized for stock options and restricted share awards issued to employees and directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options. Restricted stock awards are valued at the market value of Company stock at the date of the grant. 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. See Note 20. | ||
Fair Value of Financial Instruments | ||
Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 22. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. | ||
Transfers of Financial Assets | ||
Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | ||
Mortgage Banking Derivatives | ||
Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into, in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in fair values of these derivatives are included in mortgage banking income. | ||
Operating Segments | ||
Management considers the following factors in determining the need to disclose separate operating segments: 1) The nature of products and services, which are all financial in nature; 2) The type and class of customer for the products and services; in First Defiance’s case retail customers for retail bank and insurance products and commercial customers for commercial loan, deposit, life, health and property and casualty insurance needs; 3) The methods used to distribute products or provide services; such services are delivered through banking and insurance offices and through bank and insurance customer contact representatives. Retail and commercial customers are frequently targets for both banking and insurance products; 4) The nature of the regulatory environment; both banking and insurance entities are subject to various regulatory bodies and a number of specific regulations. | ||
Quantitative thresholds as stated in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting are monitored. For the year ended December 31, 2013, the reported revenue for First Insurance was 9.1% of total revenue for First Defiance. Total revenue includes net interest income (before provision for loan losses) plus non-interest income. Net income for First Insurance for the year ended December 31, 2013 was 4.4% of consolidated net income. Total assets of First Insurance at December 31, 2013 were 0.7% of total assets. First Insurance does not meet any of the quantitative thresholds of FASB ASC Topic 280. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable segment. | ||
Dividend Restriction | ||
Banking regulations require maintaining certain capital levels and may limit the dividends paid by the savings bank to the holding company. See Note 17 for further details on restrictions. | ||
Loan Commitments and Related Financial Instruments | ||
Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. | ||
Loss Contingencies | ||
Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are any such matters that will have a material effect on the financial statements. | ||
Income Taxes | ||
Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. | ||
An effective tax rate of 35% is used to determine after-tax components of other comprehensive income (loss) included in the statements of stockholders’ equity. See Note 18. | ||
A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. | ||
The Company recognizes interest and/or penalties related to income tax matters in income tax expense. | ||
Retirement Plans | ||
Pension expense is the net of service and interest cost, return on plan assets and amortization of gains and losses not immediately recognized. Employee 401(k) plan expense is the amount of matching contributions. Deferred compensation and supplemental retirement plan expense allocates the benefits over years of service. | ||
Reclassifications | ||
Some items in the prior year financial statements were reclassified to conform to the current presentation. | ||
Accounting Standards Updates | ||
In February 2013, the FASB issued ASU 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” This update requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, entities are required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The Company adopted this standard on January 1, 2013. The effect of adopting this standard increased the Company’s disclosure surrounding reclassification items out of accumulated other comprehensive income. | ||
In January 2014, the FASB issued ASU 2014-04, “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure.” The objective of the amendments in ASU 2014-04 to Topic 310, “Receivables - Troubled Debt Restructurings by Creditors,” is to reduce diversity by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The amendments are effective for fiscal years, and interim periods within those years, beginning after December 31, 2014. An entity can elect to adopt the amendments using either a modified retrospective transition method or a prospective transition method. Early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. | ||
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2013 | |
Business Combinations [Abstract] | ' |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | ' |
3. Acquisitions | |
On July 1, 2011, First Defiance acquired PDI, an insurance agency headquartered in Maumee and Oregon, Ohio, for a cash purchase price of $4.8 million and future consideration to be paid in cash in 2012, 2013, and 2014. As of December 31, 2013, management has reported goodwill of approximately $4.0 million and identifiable intangible assets of $810,000 consisting of a customer relationship intangible of $551,000 and a non-compete intangible of $259,000. The transaction included a contingent payable with a maximum cash payout of $822,800, of which $596,000 and $70,000 was paid in 2013 and 2012, respectively. The accrued liability was adjusted at December 31, 2013 and ended the year at $137,000 representing the present value of the remaining cash eligible for payment of $157,000. The remaining $20,000 will be expensed in 2014 with the final payout. The Company accounted for the transaction under the acquisition method of accounting which requires purchased assets and assumed liabilities to be recorded at their respective acquisition date fair value. Disclosure of pro forma results of this acquisition is not material to the Company’s consolidated financial statements. | |
Earnings_Per_Common_Share
Earnings Per Common Share | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||
4. Earnings Per Common Share | |||||||||||
The following table sets forth the computation of basic and diluted earnings per common share: | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In Thousands, Except Per Share Amounts) | |||||||||||
Numerator for basic and diluted earnings per | $ | 22,235 | $ | 18,047 | $ | 13,506 | |||||
common share-net income applicable to common | |||||||||||
shares | |||||||||||
Denominator: | |||||||||||
Denominator for basic earnings per common | 9,764 | 9,728 | 9,371 | ||||||||
share-weighted-average common shares, including | |||||||||||
participating securities | |||||||||||
Effect of dilutive securities: | |||||||||||
Employee stock options | 87 | 51 | 15 | ||||||||
Warrants | 320 | 219 | 154 | ||||||||
Dilutive potential common shares | 407 | 270 | 169 | ||||||||
Denominator for diluted earnings per common share | 10,171 | 9,998 | 9,540 | ||||||||
Basic earnings per common share | $ | 2.28 | $ | 1.86 | $ | 1.44 | |||||
Diluted earnings per common share | $ | 2.19 | $ | 1.81 | $ | 1.42 | |||||
Shares under option of 132,750 in 2013, 229,550 in 2012 and 255,700 in 2011 were excluded from the diluted earnings per common share calculation as they were anti-dilutive. | |||||||||||
Investment_Securities
Investment Securities | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Marketable Securities [Abstract] | ' | |||||||||||||||||||||||||||
Investment [Text Block] | ' | |||||||||||||||||||||||||||
5. Investment Securities | ||||||||||||||||||||||||||||
The following tables summarize the amortized cost and fair value of available-for-sale securities and held-to-maturity investment securities portfolio at December 31, 2013 and 2012 and the corresponding amounts of gross unrealized gains and losses were as follows: | ||||||||||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||
Available-for-sale | ||||||||||||||||||||||||||||
Obligations of U.S. government corporations and | $ | 5,000 | $ | - | $ | -79 | $ | 4,921 | ||||||||||||||||||||
agencies | ||||||||||||||||||||||||||||
Mortgage-backed securities - residential | 41,368 | 765 | -841 | 41,292 | ||||||||||||||||||||||||
Collateralized mortgage obligations | 59,865 | 739 | -763 | 59,841 | ||||||||||||||||||||||||
Trust preferred stock and preferred stock | 3,264 | 683 | -993 | 2,954 | ||||||||||||||||||||||||
Corporate bonds | 8,854 | 129 | -41 | 8,942 | ||||||||||||||||||||||||
Obligations of state and political subdivisions | 78,426 | 2,704 | -910 | 80,220 | ||||||||||||||||||||||||
Total Available-for-Sale | $ | 196,777 | $ | 5,020 | $ | -3,627 | $ | 198,170 | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||||||
Amortized | Unrecognized | Unrecognized | Fair | |||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
Held-to-Maturity | ||||||||||||||||||||||||||||
FHLMC certificates | $ | 31 | $ | - | $ | - | $ | 31 | ||||||||||||||||||||
FNMA certificates | 120 | 4 | - | 124 | ||||||||||||||||||||||||
GNMA certificates | 50 | 2 | - | 52 | ||||||||||||||||||||||||
Obligations of states and political | 186 | - | - | 186 | ||||||||||||||||||||||||
subdivisions | ||||||||||||||||||||||||||||
Total Held-to-Maturity | $ | 387 | $ | 6 | $ | - | $ | 393 | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||
Available-for-sale | ||||||||||||||||||||||||||||
Obligations of U.S. government corporations and | $ | 11,000 | $ | 69 | $ | - | $ | 11,069 | ||||||||||||||||||||
agencies | ||||||||||||||||||||||||||||
U.S. treasury bonds | 1,000 | 2 | - | 1,002 | ||||||||||||||||||||||||
Mortgage-backed securities - residential | 30,020 | 1,441 | - | 31,461 | ||||||||||||||||||||||||
Collateralized mortgage obligations | 55,962 | 1,504 | - | 57,466 | ||||||||||||||||||||||||
Trust preferred stock and preferred stock | 3,600 | 99 | -2,091 | 1,608 | ||||||||||||||||||||||||
Corporate bonds | 8,717 | 167 | - | 8,884 | ||||||||||||||||||||||||
Obligations of state and political subdivisions | 76,339 | 6,277 | -5 | 82,611 | ||||||||||||||||||||||||
Total Available-for-Sale | $ | 186,638 | $ | 9,559 | $ | -2,096 | $ | 194,101 | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||||||
Amortized | Unrecognized | Unrecognized | Fair | |||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
Held-to-Maturity | ||||||||||||||||||||||||||||
FHLMC certificates | $ | 69 | $ | - | $ | -1 | $ | 68 | ||||||||||||||||||||
FNMA certificates | 162 | 6 | - | 168 | ||||||||||||||||||||||||
GNMA certificates | 60 | 3 | - | 63 | ||||||||||||||||||||||||
Obligations of states and political subdivisions | 217 | - | - | 217 | ||||||||||||||||||||||||
Total Held-to-Maturity | $ | 508 | $ | 9 | $ | -1 | $ | 516 | ||||||||||||||||||||
The amortized cost and fair value of the investment securities portfolio at December 31, 2013 and 2012 are shown below by contractual maturity. Expected maturities will differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. For purposes of the maturity tables below, mortgage-backed securities and collateralized mortgage obligations, which are not due at a single maturity date, have not been allocated over maturity groupings. | ||||||||||||||||||||||||||||
Available-for-Sale | ||||||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||
Available-for-sale | ||||||||||||||||||||||||||||
Due in one year or less | $ | 2,135 | $ | 2,137 | ||||||||||||||||||||||||
Due after one year through | 8,198 | 8,526 | ||||||||||||||||||||||||||
five years | ||||||||||||||||||||||||||||
Due after five years through | 38,707 | 40,016 | ||||||||||||||||||||||||||
ten years | ||||||||||||||||||||||||||||
Due after ten years | 46,504 | 46,358 | ||||||||||||||||||||||||||
MBS/CMO | 101,233 | 101,133 | ||||||||||||||||||||||||||
Total | $ | 196,777 | $ | 198,170 | ||||||||||||||||||||||||
Held-to-maturity | ||||||||||||||||||||||||||||
Due after five years through | $ | 186 | $ | 186 | ||||||||||||||||||||||||
ten years | ||||||||||||||||||||||||||||
MBS/CMO | 201 | 207 | ||||||||||||||||||||||||||
Total | $ | 387 | $ | 393 | ||||||||||||||||||||||||
Available-for-Sale | ||||||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||
Available-for-sale | ||||||||||||||||||||||||||||
Due in one year or less | $ | 1,252 | $ | 1,258 | ||||||||||||||||||||||||
Due after one year through | 15,719 | 15,996 | ||||||||||||||||||||||||||
five years | ||||||||||||||||||||||||||||
Due after five years through | 33,743 | 36,024 | ||||||||||||||||||||||||||
ten years | ||||||||||||||||||||||||||||
Due after ten years | 49,942 | 51,896 | ||||||||||||||||||||||||||
MBS/CMO | 85,982 | 88,927 | ||||||||||||||||||||||||||
$ | 186,638 | $ | 194,101 | |||||||||||||||||||||||||
Held-to-maturity | ||||||||||||||||||||||||||||
Due after five years through | $ | 217 | $ | 217 | ||||||||||||||||||||||||
ten years | ||||||||||||||||||||||||||||
MBS/CMO | 291 | 299 | ||||||||||||||||||||||||||
Total | $ | 508 | $ | 516 | ||||||||||||||||||||||||
Securities pledged at year-end 2013 and 2012 had a carrying amount of $132.7 million and $135.0 million and were pledged to secure public deposits, securities sold under repurchase agreements and FHLB advances. | ||||||||||||||||||||||||||||
As of December 31, 2013, the Company’s investment portfolio consisted of 337 securities, 88 of which were in an unrealized loss position. The Company does not hold any single security that is greater than 10% of the Company’s equity at December 31, 2013. | ||||||||||||||||||||||||||||
The following table summarizes First Defiance’s securities that were in an unrealized loss position at December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||
Duration of Unrealized Loss Position | ||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loses | |||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
Obligations of U.S. government | $ | 4,921 | $ | -79 | $ | - | $ | - | $ | 4,921 | $ | -79 | ||||||||||||||||
corporations and agencies | ||||||||||||||||||||||||||||
Mortgage-backed securities | 24,846 | -841 | - | - | 24,846 | -841 | ||||||||||||||||||||||
- residential | ||||||||||||||||||||||||||||
Collateralized mortgage | 26,530 | -763 | - | - | 26,530 | -763 | ||||||||||||||||||||||
obligations | ||||||||||||||||||||||||||||
Corporate bonds | 2,959 | -41 | - | - | 2,959 | -41 | ||||||||||||||||||||||
Obligations of state and political | 19,209 | -871 | 375 | -39 | 19,584 | -910 | ||||||||||||||||||||||
subdivisions | ||||||||||||||||||||||||||||
Trust preferred stock and | - | - | 582 | -993 | 582 | -993 | ||||||||||||||||||||||
preferred stock | ||||||||||||||||||||||||||||
Total temporarily impaired | $ | 78,465 | $ | -2,595 | $ | 957 | $ | -1,032 | $ | 79,422 | $ | -3,627 | ||||||||||||||||
securities | ||||||||||||||||||||||||||||
At December 31, 2012 | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
Mortgage-backed securities | $ | 1 | $ | - | $ | - | $ | - | $ | 1 | $ | - | ||||||||||||||||
- residential | ||||||||||||||||||||||||||||
Obligations of state and political | 949 | -5 | - | - | 949 | -5 | ||||||||||||||||||||||
subdivisions | ||||||||||||||||||||||||||||
Trust preferred stock and | - | - | 1,474 | -2,091 | 1,474 | -2,091 | ||||||||||||||||||||||
preferred stock | ||||||||||||||||||||||||||||
Total temporarily impaired | $ | 950 | $ | -5 | $ | 1,474 | $ | -2,091 | $ | 2,424 | $ | -2,096 | ||||||||||||||||
securities | ||||||||||||||||||||||||||||
With the exception of trust preferred stock, the above securities all have fixed interest rates, and all securities have defined maturities. Their fair value is sensitive to movements in market interest rates. First Defiance has the ability and intent to hold these investments for a time necessary to recover the amortized cost without impacting its liquidity position and it is not more than likely that the Company will be required to sell the investments before anticipated recovery. | ||||||||||||||||||||||||||||
Realized gains from the sales and calls of investment securities totaled $97,000 ($68,000 after tax) in 2013 while there were realized gains of $2.1 million ($1.4 million after tax) and $218,000 ($142,000 after tax) in 2012 and 2011, respectively. | ||||||||||||||||||||||||||||
Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequent when economic or market conditions warrant such an evaluation. The investment portfolio is evaluated for OTTI by segregating the portfolio into two general segments. Investment securities classified as available for sale or held-to-maturity are generally evaluated for OTTI under FASB ASC Topic 320. Certain collateralized debt obligations (“CDOs”) are evaluated for OTTI under FASB ASC Topic 325, Investment – Other. | ||||||||||||||||||||||||||||
When OTTI occurs under either model, the amount of the OTTI recognized in earnings depends on whether an entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current period credit loss. If an entity intends to sell or more likely than not will be required to sell the security before recovery of its amortized cost basis less any current period credit loss, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If an entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis less any current period loss, the OTTI shall be separated into the amount representing the credit loss and the amount related to all other factors. The amount of OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected compared to the book value of the security and is recognized in earnings. The amount of OTTI related to other factors shall be recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings shall become the new amortized cost basis of the investment. | ||||||||||||||||||||||||||||
In 2013, management determined that two CDOs had OTTI resulting in a write-down of $337,000 ($219,000 after tax). The 2013 OTTI is related to two CDOs that were disallowed under the Final Interim Volcker Rule of the Dodd-Frank Act released on January 14, 2014 requiring the Company to liquidate these securities before a certain date. The Company received Level 1 pricing and wrote these two CDOs to that value as of December 31, 2013 and subsequently sold these two securities on January 15, 2014. In 2012, management determined that one CDO had OTTI resulting in a write-down of $4,500 ($2,900 after tax). In 2011, management determined that one CDO had OTTI resulting in a write-down of $2,200 ($1,400 after tax). | ||||||||||||||||||||||||||||
The Company held eight CDOs at December 31, 2013. Four of those CDOs were written down in full prior to January 1, 2010. The remaining four CDOs have a total amortized cost of $3.2 million at December 31, 2013. Of these, two, with a total amortized cost of $1.7 million, have been sold in January 2014 as stated above. The final two CDOs, with a total amortized cost of $1.5 million, had OTTI in prior periods. | ||||||||||||||||||||||||||||
Given the conditions in the debt markets today and the absence of observable transactions in the secondary and new issue markets, the Company’s CDOs, excluding the two CDOs sold in January 2014, will be classified within Level 3 of the fair value hierarchy because management determined that significant adjustments were required to determine fair value at the measurement date. The two CDOs sold in January 2014, will be classified within Level 1 of the fair value hierarchy. | ||||||||||||||||||||||||||||
As required under FASB ASC Topic 320, declines in the fair value of held-to-maturity and available-for-sale securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses to the extent the impairment is related to credit losses. | ||||||||||||||||||||||||||||
The Company’s Level 3 CDO valuations were supported by analysis prepared by an independent third party. Their approach to determining fair value involved several steps: 1) detailed credit and structural evaluation of each piece of collateral in the CDO; 2) collateral performance projections for each piece of collateral in the CDO (default, recovery and prepayment/amortization probabilities) and 3) discounted cash flow modeling. | ||||||||||||||||||||||||||||
Trust Preferred CDOs Discount Rate Methodology | ||||||||||||||||||||||||||||
First Defiance uses market-based yield indicators as a baseline for determining appropriate discount rates, and then adjusts the resulting discount rates on the basis of its credit and structural analysis of specific CDO instruments. The next step is to make a series of adjustments to reflect the differences that nevertheless exist between these products (both credit and structural) and, most importantly, to reflect idiosyncratic credit performance differences (both actual and projected) between these products and the underlying collateral in the specific CDOs. | ||||||||||||||||||||||||||||
Fundamental to this evaluation is an assessment of the likelihood of CDO coverage test failures that would have the effect of diverting cash flow away from the relevant CDO bond for some period of time. Generally speaking, the Company adjusts indicative credit spreads upwards in the case of CDOs that have relatively weaker collateral and/or less cushion with respect to overcollateralization and interest coverage test ratios and downwards if the reverse is true. This aspect of the Company’s discount rate methodology is important because there is frequently a great difference in the risks present in CDO instruments that are otherwise very similar (i.e. CDOs with the same basic type of collateral, the same manager, the same vintage, etc., may exhibit vastly different performance characteristics). | ||||||||||||||||||||||||||||
The Company believes its valuation methodology is appropriate for all of its CDOs in accordance with FASB ASC Topic 320 as well as other related guidance. The default and recovery probabilities for each piece of collateral were formed based on the evaluation of the collateral credit and a review of historical industry default data and current/near-term operating conditions. For collateral that has already deferred, the Company assumed a recovery of 10% of par for banks, thrifts or other depository institutions, and 15% for insurance companies. The Company’s assumed average lifetime default rate declined to 26.2% at the end of 2013 from 27.9% at the end of 2012. | ||||||||||||||||||||||||||||
The amount of OTTI recognized in accumulated other comprehensive income (“AOCI”) was $645,000 for the above eight securities at December 31, 2013. There was $749,000 recognized in accumulated other comprehensive income at December 31, 2012. | ||||||||||||||||||||||||||||
The following table provides additional information related to the four CDO investments for which a balance remains as of December 31, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
CDO | Class | Amortized | Fair | Unrealized | OTTI | Lowest | Current | Actual | Expected | Excess Sub- | ||||||||||||||||||
Cost | Value | Loss | Losses | Rating | Number of | Deferrals | Deferrals | ordination | ||||||||||||||||||||
2013 | Banks and | and | and Defaults | as a % of | ||||||||||||||||||||||||
Insurance | Defaults | as a % of | Current | |||||||||||||||||||||||||
Companies | as a % of | Remaining | Performing | |||||||||||||||||||||||||
Current | Performing | Collateral | ||||||||||||||||||||||||||
Collateral | Collateral | |||||||||||||||||||||||||||
TPREF Funding II | B | $ | 673 | $ | 266 | $ | 407 | $ | 0 | Caa3 | 16 | 41.1 | % | 13.48 | % | - | % | |||||||||||
I-Preferred Term Sec I | B-1 | 839 | 839 | - | 161 | CCC- | 14 | 17.24 | % | 11.72 | %* | 23.61 | % | |||||||||||||||
Dekania II CDO | C-1 | 815 | 815 | - | 176 | CCC | 30 | - | % | 13.16 | %* | 26.03 | % | |||||||||||||||
Preferred Term Sec XXVII | C-1 | 902 | 316 | 586 | 0 | C | 32 | 26.18 | % | 18.29 | % | 6.39 | % | |||||||||||||||
Total | $ | 3,229 | $ | 2,236 | $ | 993 | $ | 337 | ||||||||||||||||||||
*Assumption not applicable as Level 1 pricing was utilized at December 31, 2013. | ||||||||||||||||||||||||||||
The table below presents a roll-forward of the credit losses relating to debt securities recognized in earnings for the years ended December 31, 2013, 2012 and 2011 (in thousands): | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
Beginning balance, January 1 | $ | 3,176 | $ | 3,251 | $ | 3,249 | ||||||||||||||||||||||
Additions for amounts related to credit loss for which an OTTI was | 337 | - | - | |||||||||||||||||||||||||
not previously recognized | ||||||||||||||||||||||||||||
Reductions for amounts realized for securities sold/redeemed during | - | -80 | - | |||||||||||||||||||||||||
the period | ||||||||||||||||||||||||||||
Reductions for amounts related to securities for which the | - | - | - | |||||||||||||||||||||||||
Company intends to sell or that it will be more likely than not that | ||||||||||||||||||||||||||||
the Company will be required to sell prior to recovery of amortized | ||||||||||||||||||||||||||||
cost basis | ||||||||||||||||||||||||||||
Reductions for increase in cash flows expected to be collected that are | - | - | - | |||||||||||||||||||||||||
Recognized over the remaining life of the security | ||||||||||||||||||||||||||||
Increases to the amount related to the credit loss for which Other-than- | - | 5 | 2 | |||||||||||||||||||||||||
temporary was previously recognized | ||||||||||||||||||||||||||||
Ending balance, December 31 | $ | 3,513 | $ | 3,176 | $ | 3,251 | ||||||||||||||||||||||
The proceeds from sales and calls of securities and the associated gains and losses are listed below: | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
Proceeds | $ | 4,027 | $ | 72,262 | $ | 8,719 | ||||||||||||||||||||||
Gross realized gains | 97 | 2,163 | 218 | |||||||||||||||||||||||||
Gross realized losses | - | -24 | - | |||||||||||||||||||||||||
Commitments_and_Contingent_Lia
Commitments and Contingent Liabilities | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Commitments Contingencies and Guarantees [Text Block] | ' | ||||||||||||
6. Commitments and Contingent Liabilities | |||||||||||||
Loan Commitments | |||||||||||||
Loan commitments are made to accommodate the financial needs of First Federal’s customers; however, there are no long-term, fixed-rate loan commitments that result in market risk. Standby letters of credit commit the Company to make payments on behalf of customers when certain specified future events occur. They primarily are issued to facilitate customers’ trade transactions. | |||||||||||||
Both arrangements have credit risk, essentially the same as that involved in extending loans to customers, and are subject to the Company’s normal credit policies. Collateral (e.g., securities, receivables, inventory and equipment) is obtained based on management’s credit assessment of the customer. | |||||||||||||
The Company’s maximum obligation to extend credit for loan commitments (unfunded loans and unused lines of credit) and standby letters of credit outstanding on December 31 was as follows (in thousands): | |||||||||||||
2013 | 2012 | ||||||||||||
Fixed Rate | Variable Rate | Fixed Rate | Variable Rate | ||||||||||
Commitments to make loans | $ | 57,914 | $ | 59,632 | $ | 50,205 | $ | 48,035 | |||||
Unused lines of credit | 18,047 | 257,939 | 21,975 | 228,269 | |||||||||
Standby letters of credit | - | 17,680 | - | 18,166 | |||||||||
Total | $ | 75,962 | $ | 335,251 | $ | 72,180 | $ | 294,470 | |||||
Commitments to make loans are generally made for periods of 60 days or less. The fixed rate loan commitments at December 31, 2013 have interest rates ranging from 2.00% to 18.00% and maturities ranging from less than 1 year to 30 years. | |||||||||||||
In addition to the above commitments, at December 31, 2013, First Defiance had commitments to sell $12.1 million of loans to Freddie Mac, Fannie Mae, FHLB of Cincinnati or BB&T Mortgage. | |||||||||||||
Loans
Loans | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Loans Receivable, Net [Abstract] | ' | |||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | |||||||||||||||||||||||||
7. Loans | ||||||||||||||||||||||||||
Loans receivable consist of the following: | ||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||
Real Estate: | ||||||||||||||||||||||||||
Secured by 1-4 family residential | $ | 195,752 | $ | 200,826 | ||||||||||||||||||||||
Secured by multi-family residential | 148,952 | 122,275 | ||||||||||||||||||||||||
Secured by commercial real estate | 670,666 | 675,110 | ||||||||||||||||||||||||
Construction | 86,058 | 37,788 | ||||||||||||||||||||||||
1,101,428 | 1,035,999 | |||||||||||||||||||||||||
Other Loans: | ||||||||||||||||||||||||||
Commercial | 388,236 | 383,817 | ||||||||||||||||||||||||
Home equity and improvement | 106,930 | 108,718 | ||||||||||||||||||||||||
Consumer Finance | 16,902 | 15,936 | ||||||||||||||||||||||||
512,068 | 508,471 | |||||||||||||||||||||||||
Total loans | 1,613,496 | 1,544,470 | ||||||||||||||||||||||||
Deduct: | ||||||||||||||||||||||||||
Undisbursed loan funds | -32,290 | -18,478 | ||||||||||||||||||||||||
Net deferred loan origination fees and costs | -758 | -735 | ||||||||||||||||||||||||
Allowance for loan loss | -24,950 | -26,711 | ||||||||||||||||||||||||
Totals | $ | 1,555,498 | $ | 1,498,546 | ||||||||||||||||||||||
Loan segments have been identified by evaluating the portfolio based on collateral and credit risk characteristics. | ||||||||||||||||||||||||||
The following table discloses allowance for loan loss activity year to date as of December 31, 2013, December 31, 2012, and December 31, 2011 by portfolio segment and impairment method (in thousands): | ||||||||||||||||||||||||||
Year to Date December 31, | 1-4 Family | Multi-Family | Commercial | Construction | Commercial | Home Equity | Consumer | Total | ||||||||||||||||||
2013 | Residential | Residential | Real Estate | and | Finance | |||||||||||||||||||||
Real Estate | Real Estate | Improvement | ||||||||||||||||||||||||
Beginning Allowance | $ | 3,506 | $ | 2,197 | $ | 12,702 | $ | 75 | $ | 6,325 | $ | 1,759 | $ | 147 | $ | 26,711 | ||||||||||
Charge-Offs | -643 | -6 | -2,469 | - | -1,230 | -757 | -94 | -5,199 | ||||||||||||||||||
Recoveries | 282 | - | 837 | - | 290 | 125 | 80 | 1,614 | ||||||||||||||||||
Provisions | -298 | 317 | 930 | 59 | 293 | 508 | 15 | 1,824 | ||||||||||||||||||
Ending Allowance | $ | 2,847 | $ | 2,508 | $ | 12,000 | $ | 134 | $ | 5,678 | $ | 1,635 | $ | 148 | $ | 24,950 | ||||||||||
Year to Date December 31, | 1-4 Family | Multi-Family | Commercial | Construction | Commercial | Home Equity | Consumer | Total | ||||||||||||||||||
2012 | Residential | Residential | Real Estate | and | Finance | |||||||||||||||||||||
Real Estate | Real Estate | Improvement | ||||||||||||||||||||||||
Beginning Allowance | $ | 4,095 | $ | 2,850 | $ | 17,640 | $ | 63 | $ | 6,576 | $ | 1,856 | $ | 174 | $ | 33,254 | ||||||||||
Charge-Offs | -2,515 | -555 | -10,764 | - | -4,047 | -1,165 | -133 | -19,179 | ||||||||||||||||||
Recoveries | 177 | 122 | 895 | - | 359 | 95 | 64 | 1,712 | ||||||||||||||||||
Provisions | 1,749 | -220 | 4,931 | 12 | 3,437 | 973 | 42 | 10,924 | ||||||||||||||||||
Ending Allowance | $ | 3,506 | $ | 2,197 | $ | 12,702 | $ | 75 | $ | 6,325 | $ | 1,759 | $ | 147 | $ | 26,711 | ||||||||||
Year-to-Date December 31, | 1-4 Family | Multi-Family | Commercial | Construction | Commercial | Home Equity | Consumer | Total | ||||||||||||||||||
2011 | Residential | Residential | Real Estate | and | Finance | |||||||||||||||||||||
Real Estate | Real Estate | Improvement | ||||||||||||||||||||||||
Beginning Allowance | $ | 5,956 | $ | 2,147 | $ | 20,208 | $ | 73 | $ | 10,871 | $ | 1,528 | $ | 297 | $ | 41,080 | ||||||||||
Charge-Offs | -2,753 | -792 | -12,358 | - | -4,398 | -1,052 | -95 | -21,448 | ||||||||||||||||||
Recoveries | 127 | - | 533 | - | 393 | 65 | 70 | 1,188 | ||||||||||||||||||
Provisions | 765 | 1,495 | 9,257 | -10 | -290 | 1,315 | -98 | 12,434 | ||||||||||||||||||
Ending Allowance | $ | 4,095 | $ | 2,850 | $ | 17,640 | $ | 63 | $ | 6,576 | $ | 1,856 | $ | 174 | $ | 33,254 | ||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2013: | ||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||
1-4 Family | Multi Family | |||||||||||||||||||||||||
Residential | Residential | Commercial | Home Equity | Consumer | ||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Commercial | Construction | & Improvement | Finance | Total | |||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 220 | $ | - | $ | 1,121 | $ | - | $ | 6 | $ | 45 | $ | - | $ | 1,392 | ||||||||||
Collectively evaluated for impairment | 2,627 | 2,508 | 10,879 | 134 | 5,672 | 1,590 | 148 | 23,558 | ||||||||||||||||||
Acquired with deteriorated credit quality | - | - | - | - | - | - | - | - | ||||||||||||||||||
Total ending allowance balance | $ | 2,847 | $ | 2,508 | $ | 12,000 | $ | 134 | $ | 5,678 | $ | 1,635 | $ | 148 | $ | 24,950 | ||||||||||
Loans: | ||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 10,245 | $ | 840 | $ | 34,874 | $ | 263 | $ | 8,737 | $ | 2,429 | $ | 53 | $ | 57,441 | ||||||||||
Loans collectively evaluated for impairment | 185,923 | 148,294 | 637,657 | 53,467 | 380,711 | 104,958 | 16,838 | 1,527,848 | ||||||||||||||||||
Loans acquired with deteriorated credit quality | 29 | - | 174 | - | 27 | - | - | 230 | ||||||||||||||||||
Total ending loans balance | $ | 196,197 | $ | 149,134 | $ | 672,705 | $ | 53,730 | $ | 389,475 | $ | 107,387 | $ | 16,891 | $ | 1,585,519 | ||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2012: | ||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||
1-4 Family | Multi Family | |||||||||||||||||||||||||
Residential | Residential | Commercial | Home Equity | Consumer | ||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Commercial | Construction | & Improvement | Finance | Total | |||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 281 | $ | - | $ | 1,070 | $ | - | $ | 138 | $ | 2 | $ | - | $ | 1,491 | ||||||||||
Collectively evaluated for impairment | 3,225 | 2,197 | 11,632 | 75 | 6,187 | 1,757 | 147 | 25,220 | ||||||||||||||||||
Acquired with deteriorated credit quality | - | - | - | - | - | - | - | - | ||||||||||||||||||
Total ending allowance balance | $ | 3,506 | $ | 2,197 | $ | 12,702 | $ | 75 | $ | 6,325 | $ | 1,759 | $ | 147 | $ | 26,711 | ||||||||||
Loans: | ||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 11,930 | $ | 1,626 | $ | 46,053 | $ | 45 | $ | 8,830 | $ | 2,678 | $ | 124 | $ | 71,286 | ||||||||||
Loans collectively evaluated for impairment | 189,348 | 120,829 | 630,534 | 19,251 | 376,007 | 106,516 | 15,815 | 1,458,300 | ||||||||||||||||||
Loans acquired with deteriorated credit quality | 36 | - | 436 | - | 32 | - | - | 504 | ||||||||||||||||||
Total ending loans balance | $ | 201,314 | $ | 122,455 | $ | 677,023 | $ | 19,296 | $ | 384,869 | $ | 109,194 | $ | 15,939 | $ | 1,530,090 | ||||||||||
The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans. (In Thousands) | ||||||||||||||||||||||||||
Twelve Months Ended December 31, | ||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||
Average | Interest | Cash Basis | ||||||||||||||||||||||||
Balance | Income | Income | ||||||||||||||||||||||||
Recognized | Recognized | |||||||||||||||||||||||||
Residential Owner Occupied | $ | 6,529 | $ | 345 | $ | 343 | ||||||||||||||||||||
Residential Non Owner Occupied | 4,453 | 162 | 163 | |||||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 10,982 | 507 | 506 | |||||||||||||||||||||||
Multi-Family Residential Real Estate | 1,176 | 27 | 28 | |||||||||||||||||||||||
CRE Owner Occupied | 14,313 | 376 | 386 | |||||||||||||||||||||||
CRE Non Owner Occupied | 22,339 | 901 | 909 | |||||||||||||||||||||||
Agriculture Land | 987 | 26 | 16 | |||||||||||||||||||||||
Other CRE | 4,162 | 43 | 38 | |||||||||||||||||||||||
Total Commercial Real Estate | 41,801 | 1,346 | 1,349 | |||||||||||||||||||||||
Construction | 165 | 10 | 8 | |||||||||||||||||||||||
Commercial Working Capital | 2,085 | 33 | 36 | |||||||||||||||||||||||
Commercial Other | 6,521 | 75 | 70 | |||||||||||||||||||||||
Total Commercial | 8,606 | 108 | 106 | |||||||||||||||||||||||
Consumer Finance | 83 | 6 | 6 | |||||||||||||||||||||||
Home Equity and Home Improvement | 2,631 | 121 | 117 | |||||||||||||||||||||||
Total Impaired Loans | $ | 65,444 | $ | 2,125 | $ | 2,120 | ||||||||||||||||||||
The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans. (In Thousands) | ||||||||||||||||||||||||||
Twelve Months Ended December 31, | ||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||
Average | Interest | Cash Basis | ||||||||||||||||||||||||
Balance | Income | Income | ||||||||||||||||||||||||
Recognized | Recognized | |||||||||||||||||||||||||
Residential Owner Occupied | $ | 2,946 | $ | 137 | $ | 136 | ||||||||||||||||||||
Residential Non Owner Occupied | 5,291 | 173 | 177 | |||||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 8,237 | 310 | 313 | |||||||||||||||||||||||
Multi-Family Residential Real Estate | 826 | 22 | 21 | |||||||||||||||||||||||
CRE Owner Occupied | 11,755 | 190 | 176 | |||||||||||||||||||||||
CRE Non Owner Occupied | 17,156 | 540 | 559 | |||||||||||||||||||||||
Agriculture Land | 1,062 | 31 | 23 | |||||||||||||||||||||||
Other CRE | 6,672 | 15 | 15 | |||||||||||||||||||||||
Total Commercial Real Estate | 36,645 | 776 | 773 | |||||||||||||||||||||||
Construction | 9 | - | - | |||||||||||||||||||||||
Commercial Working Capital | 2,021 | 26 | 29 | |||||||||||||||||||||||
Commercial Other | 5,018 | 87 | 90 | |||||||||||||||||||||||
Total Commercial | 7,039 | 113 | 119 | |||||||||||||||||||||||
Consumer Finance | 25 | 3 | 3 | |||||||||||||||||||||||
Home Equity and Home Improvement | 563 | 33 | 33 | |||||||||||||||||||||||
Total Impaired Loans | $ | 53,344 | $ | 1,257 | $ | 1,262 | ||||||||||||||||||||
The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans: (In Thousands) | ||||||||||||||||||||||||||
Twelve Months Ended December 31, | ||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||
Average | Interest | Cash Basis | ||||||||||||||||||||||||
Balance | Income | Income | ||||||||||||||||||||||||
Recognized | Recognized | |||||||||||||||||||||||||
Residential Owner Occupied | $ | 2,689 | $ | 68 | $ | 67 | ||||||||||||||||||||
Residential Non Owner Occupied | 2,646 | 85 | 87 | |||||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 5,335 | 153 | 154 | |||||||||||||||||||||||
Multi-Family Residential Real Estate | 2,097 | 88 | 83 | |||||||||||||||||||||||
CRE Owner Occupied | 10,631 | 302 | 282 | |||||||||||||||||||||||
CRE Non Owner Occupied | 19,351 | 777 | 724 | |||||||||||||||||||||||
Agriculture Land | 1,932 | 47 | 47 | |||||||||||||||||||||||
Other CRE | 7,952 | 54 | 43 | |||||||||||||||||||||||
Total Commercial Real Estate | 39,866 | 1,180 | 1,096 | |||||||||||||||||||||||
Construction | 25 | - | - | |||||||||||||||||||||||
Commercial Working Capital | 3,758 | 74 | 77 | |||||||||||||||||||||||
Commercial Other | 9,660 | 194 | 191 | |||||||||||||||||||||||
Total Commercial | 13,418 | 268 | 268 | |||||||||||||||||||||||
Consumer Finance | - | - | - | |||||||||||||||||||||||
Home Equity and Home Improvement | 258 | 12 | 12 | |||||||||||||||||||||||
Total Impaired Loans | $ | 60,999 | $ | 1,701 | $ | 1,613 | ||||||||||||||||||||
The following table presents loans individually evaluated for impairment by class of loans: (In Thousands) | ||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||
Unpaid | Recorded | Allowance | Unpaid | Recorded | Allowance | |||||||||||||||||||||
Principal | Investment | for Loan | Principal | Investment | for Loan | |||||||||||||||||||||
Balance* | Losses | Balance* | Losses | |||||||||||||||||||||||
Allocated | Allocated | |||||||||||||||||||||||||
With no allowance recorded: | ||||||||||||||||||||||||||
Residential Owner Occupied | $ | 4,744 | $ | 4,729 | $ | - | $ | 5,427 | $ | 5,357 | $ | - | ||||||||||||||
Residential Non Owner Occupied | 4,844 | 4,329 | - | 4,211 | 3,420 | - | ||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 9,588 | 9,058 | - | 9,638 | 8,777 | - | ||||||||||||||||||||
Multi-Family Residential Real Estate | 989 | 840 | - | 1,775 | 1,626 | - | ||||||||||||||||||||
CRE Owner Occupied | 11,105 | 8,376 | - | 12,314 | 9,782 | - | ||||||||||||||||||||
CRE Non Owner Occupied | 9,399 | 7,740 | - | 11,054 | 9,105 | - | ||||||||||||||||||||
Agriculture Land | 629 | 488 | - | 1,176 | 993 | - | ||||||||||||||||||||
Other CRE | 3,274 | 2,452 | - | 8,741 | 5,527 | - | ||||||||||||||||||||
Total Commercial Real Estate | 24,407 | 19,056 | - | 33,285 | 25,407 | - | ||||||||||||||||||||
Construction | 300 | 263 | - | 300 | 45 | - | ||||||||||||||||||||
Commercial Working Capital | 3,147 | 3,146 | - | 1,565 | 1,565 | - | ||||||||||||||||||||
Commercial Other | 6,063 | 5,415 | - | 6,367 | 5,338 | - | ||||||||||||||||||||
Total Commercial | 9,210 | 8,561 | - | 7,932 | 6,903 | - | ||||||||||||||||||||
Consumer | 53 | 53 | - | 125 | 124 | - | ||||||||||||||||||||
Home Equity and Home Improvement | 1,985 | 1,992 | - | 2,777 | 2,642 | - | ||||||||||||||||||||
Total loans with no allowance recorded | $ | 46,532 | $ | 39,823 | $ | - | $ | 55,832 | $ | 45,524 | $ | - | ||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||
Residential Owner Occupied | $ | 1,100 | $ | 1,103 | $ | 218 | $ | 1,697 | $ | 1,701 | $ | 257 | ||||||||||||||
Residential Non Owner Occupied | 84 | 84 | 2 | 1,449 | 1,452 | 24 | ||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 1,184 | 1,187 | 220 | 3,146 | 3,153 | 281 | ||||||||||||||||||||
Multi-Family Residential Real Estate | - | - | - | - | - | - | ||||||||||||||||||||
CRE Owner Occupied | 3,212 | 2,765 | 166 | 5,735 | 5,118 | 245 | ||||||||||||||||||||
CRE Non Owner Occupied | 12,756 | 12,803 | 946 | 15,301 | 15,357 | 820 | ||||||||||||||||||||
Agriculture Land | 195 | 197 | 7 | 111 | 112 | 3 | ||||||||||||||||||||
Other CRE | 82 | 53 | 2 | 88 | 59 | 2 | ||||||||||||||||||||
Total Commercial Real Estate | 16,245 | 15,818 | 1,121 | 21,235 | 20,646 | 1,070 | ||||||||||||||||||||
Construction | - | - | - | - | - | - | ||||||||||||||||||||
Commercial Working Capital | - | - | - | 300 | 301 | 10 | ||||||||||||||||||||
Commercial Other | 176 | 176 | 6 | 1,623 | 1,626 | 128 | ||||||||||||||||||||
Total Commercial | 176 | 176 | 6 | 1,923 | 1,927 | 138 | ||||||||||||||||||||
Consumer | - | - | - | - | - | - | ||||||||||||||||||||
Home Equity and Home Improvement | 436 | 437 | 45 | 36 | 36 | 2 | ||||||||||||||||||||
Total loans with an allowance recorded | $ | 18,041 | $ | 17,618 | $ | 1,392 | $ | 26,340 | $ | 25,762 | $ | 1,491 | ||||||||||||||
* Presented gross of charge offs | ||||||||||||||||||||||||||
The following table presents the current balance of the aggregate amounts of non-performing assets, comprised of non-performing loans and real estate owned on the dates indicated: | ||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||
Non-accrual loans | $ | 27,847 | $ | 32,570 | ||||||||||||||||||||||
Loans over 90 days past due and still accruing | - | - | ||||||||||||||||||||||||
Total non-performing loans | 27,847 | 32,570 | ||||||||||||||||||||||||
Real estate and other assets held for sale | 5,859 | 3,805 | ||||||||||||||||||||||||
Total non-performing assets | $ | 33,706 | $ | 36,375 | ||||||||||||||||||||||
Troubled debt restructuring, still accruing | $ | 27,630 | $ | 28,203 | ||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2013 by class of loans: (In Thousands) | ||||||||||||||||||||||||||
Current | 30-59 days | 60-89 days | 90+ days | Total | Total Non | |||||||||||||||||||||
Past Due | Accrual | |||||||||||||||||||||||||
Residential Owner Occupied | $ | 126,855 | $ | 1,530 | $ | 191 | $ | 1,009 | $ | 2,730 | $ | 1,329 | ||||||||||||||
Residential Non Owner Occupied | 65,292 | 531 | 403 | 386 | 1,320 | 1,943 | ||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 192,147 | 2,061 | 594 | 1,395 | 4,050 | 3,272 | ||||||||||||||||||||
Multi-Family Residential Real Estate | 149,134 | - | - | - | - | 583 | ||||||||||||||||||||
CRE Owner Occupied | 311,253 | 334 | 495 | 3,671 | 4,500 | 7,492 | ||||||||||||||||||||
CRE Non Owner Occupied | 225,433 | 1,067 | 918 | 902 | 2,887 | 4,717 | ||||||||||||||||||||
Agriculture Land | 81,954 | 21 | - | 73 | 94 | 630 | ||||||||||||||||||||
Other Commercial Real Estate | 45,297 | - | - | 1,287 | 1,287 | 2,412 | ||||||||||||||||||||
Total Commercial Real Estate | 663,937 | 1,422 | 1,413 | 5,933 | 8,768 | 15,251 | ||||||||||||||||||||
Construction | 53,730 | - | - | - | - | - | ||||||||||||||||||||
Commercial Working Capital | 155,373 | - | - | 419 | 419 | 2,917 | ||||||||||||||||||||
Commercial Other | 230,054 | 37 | 26 | 3,566 | 3,629 | 5,419 | ||||||||||||||||||||
Total Commercial | 385,427 | 37 | 26 | 3,985 | 4,048 | 8,336 | ||||||||||||||||||||
Consumer Finance | 16,759 | 131 | - | 131 | - | |||||||||||||||||||||
Home Equity/Home Improvement | 105,657 | 1,163 | 155 | 413 | 1,731 | 413 | ||||||||||||||||||||
Total Loans | $ | 1,566,791 | $ | 4,814 | $ | 2,188 | $ | 11,726 | $ | 18,728 | $ | 27,855 | ||||||||||||||
The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2012 by class of loans: (In Thousands) | ||||||||||||||||||||||||||
Current | 30-59 days | 60-89 days | 90+ days | Total | Total Non | |||||||||||||||||||||
Past Due | Accrual | |||||||||||||||||||||||||
Residential Owner Occupied | $ | 125,362 | $ | 1,238 | $ | 604 | $ | 945 | $ | 2,787 | $ | 1,125 | ||||||||||||||
Residential Non Owner Occupied | 71,777 | 413 | 126 | 849 | 1,388 | 2,473 | ||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 197,139 | 1,651 | 730 | 1,794 | 4,175 | 3,598 | ||||||||||||||||||||
Multi-Family Residential Real Estate | 122,455 | - | - | - | - | 1,178 | ||||||||||||||||||||
CRE Owner Occupied | 321,071 | 1,248 | 382 | 1,622 | 3,252 | 9,652 | ||||||||||||||||||||
CRE Non Owner Occupied | 235,592 | 134 | 1,321 | 2,480 | 3,935 | 6,674 | ||||||||||||||||||||
Agriculture Land | 72,092 | 84 | 31 | - | 115 | 813 | ||||||||||||||||||||
Other Commercial Real Estate | 36,510 | 21 | 875 | 3,560 | 4,456 | 4,761 | ||||||||||||||||||||
Total Commercial Real Estate | 665,265 | 1,487 | 2,609 | 7,662 | 11,758 | 21,900 | ||||||||||||||||||||
Construction | 19,296 | - | - | - | - | - | ||||||||||||||||||||
Commercial Working Capital | 161,110 | - | 155 | 1,204 | 1,359 | 1,528 | ||||||||||||||||||||
Commercial Other | 218,477 | 584 | 1,201 | 2,138 | 3,923 | 4,136 | ||||||||||||||||||||
Total Commercial | 379,587 | 584 | 1,356 | 3,342 | 5,282 | 5,664 | ||||||||||||||||||||
Consumer Finance | 15,702 | 229 | 8 | - | 237 | - | ||||||||||||||||||||
Home Equity/Home Improvement | 106,458 | 2,294 | 225 | 217 | 2,736 | 217 | ||||||||||||||||||||
Total Loans | $ | 1,505,902 | $ | 6,245 | $ | 4,928 | $ | 13,015 | $ | 24,188 | $ | 32,557 | ||||||||||||||
Troubled Debt Restructurings | ||||||||||||||||||||||||||
As of December 31, 2013 and 2012, the Company has a recorded investment in troubled debt restructurings (“TDRs”) of $33.4 million and $35.5 million, respectively. The Company has allocated $1.2 million and $1.1 million, of specific reserves to those loans at December 31, 2013 and 2012, and has committed to lend additional amounts totaling up to $300,000 and $41,000 at December 31, 2013 and 2012. | ||||||||||||||||||||||||||
The Company offers various types of concessions when modifying a loan, however, forgiveness of principal is rarely granted. Each TDR is uniquely designed to meet the specific needs of the borrower. Commercial and industrial loans modified in a TDR often involve temporary interest-only payments, term extensions, and converting revolving credit lines to term loans. Additional collateral or an additional guarantor is often requested when granting a concession. Commercial mortgage loans modified in a TDR often involve temporary interest-only payments, re-amortization of remaining debt in order to lower payments, and sometimes reducing the interest rate lower than the current market rate. Residential mortgage loans modified in a TDR are comprised of loans where monthly payments are lowered, either through interest rate reductions or principal only payments for a period of time, to accommodate the borrowers’ financial needs, interest is capitalized into principal, or the term and amortization are extended. Home equity modifications are made infrequently and usually involve providing an interest rate that is lower than the borrower would be able to obtain due to credit issues. All retail loans where the borrower is in bankruptcy are classified as TDRs regardless of whether or not a concession is made. | ||||||||||||||||||||||||||
Of the loans modified in a TDR, $5.7 million are on non-accrual status and partial charge-offs have in some cases been taken against the outstanding balance. Loans modified as a TDR may have the financial effect of increasing the allowance associated with the loan. If the loan is determined to be collateral dependent, the estimated fair value of the collateral, less any selling costs is used to determine if there is a need for a specific allowance or charge-off. If the loan is determined to be cash flow dependent, the allowance is measured based on the present value of expected future cash flows discounted at the loan’s pre-modification effective interest rate. | ||||||||||||||||||||||||||
The following table presents loans by class modified as TDRs that occurred during the years ending December 31, 2013, 2012, and 2011 (Dollars in Thousands): | ||||||||||||||||||||||||||
Loans Modified as a TDR for the | Loans Modified as a TDR for the | Loans Modified as a TDR for the | ||||||||||||||||||||||||
Twelve Months Ended December | Twelve Months Ended December | Twelve Months Ended December | ||||||||||||||||||||||||
31, 2013 | 31, 2012 | 31, 2011 | ||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||
Loans | Investment (as of | Loans | Investment (as of | Loans | Investment (as of | |||||||||||||||||||||
period end) | period end) | period end) | ||||||||||||||||||||||||
1-4 Family Owner Occupied | 10 | $ | 752 | 87 | $ | 6,052 | 4 | $ | 250 | |||||||||||||||||
1-4 Family Non Owner Occupied | 5 | 390 | 8 | 666 | 1 | 305 | ||||||||||||||||||||
CRE Owner Occupied | 9 | 714 | 9 | 3,859 | 6 | 426 | ||||||||||||||||||||
CRE Non Owner Occupied | 2 | 1,364 | 13 | 13,942 | 6 | 4,628 | ||||||||||||||||||||
Agriculture Land | 2 | 269 | 3 | 474 | - | - | ||||||||||||||||||||
Other CRE | 3 | 417 | 1 | 59 | - | - | ||||||||||||||||||||
Commercial Working Capital or Other | 8 | 1,602 | 7 | 1,196 | 6 | 2,379 | ||||||||||||||||||||
Home Equity and Improvement | 15 | 561 | 127 | 2,663 | 1 | 22 | ||||||||||||||||||||
Consumer Finance | 3 | 15 | 27 | 124 | - | - | ||||||||||||||||||||
Total | 57 | $ | 6,084 | 282 | $ | 29,035 | 24 | $ | 8,010 | |||||||||||||||||
The loans described above increased the ALLL by $27,000 for the year ended December 31, 2013, decreased the ALLL by $1.2 million for the year ended December 31, 2012, and decreased the ALLL by $479,000 for the year ended December 31, 2011. | ||||||||||||||||||||||||||
Of the 2013 modifications, 10 were made TDRs due to the fact that the borrower has been in bankruptcy, 7 were made TDRs due to a rate reduction, 5 were made TDRs due to interest only periods, 2 were made TDRs due to extending the amortization, 18 were made TDRs due to an extension of maturity, 4 were made TDRs due to a reduction in the payment, 4 were made to advance funds to a substandard credit, 6 were made to refinance current debt, and 1 loan was made for a different modification. | ||||||||||||||||||||||||||
The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the years ending December 31, 2013, 2012, and 2011: | ||||||||||||||||||||||||||
Twelve Months Ended | Twelve Months Ended | Twelve Months Ended | ||||||||||||||||||||||||
December 31, 2013 ($ in | December 31, 2012 ($ in | December 31, 2011 ($ in | ||||||||||||||||||||||||
thousands) | thousands) | thousands) | ||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||
That Subsequently Defaulted: | Loans | Investment | Loans | Investment | Loans | Investment | ||||||||||||||||||||
(as of Period | (as of Period | (as of Period | ||||||||||||||||||||||||
End) | End) | End) | ||||||||||||||||||||||||
Residential Owner Occupied | 6 | $ | 409 | 6 | $ | 462 | 2 | $ | 206 | |||||||||||||||||
Residential Non Owner Occupied | - | - | 2 | 203 | - | - | ||||||||||||||||||||
CRE Owner Occupied | 2 | 290 | - | - | 1 | 1,495 | ||||||||||||||||||||
CRE Non Owner Occupied | 1 | 212 | 3 | 555 | - | - | ||||||||||||||||||||
Agriculture Land | - | - | - | - | - | - | ||||||||||||||||||||
Other CRE | 1 | 323 | - | - | - | - | ||||||||||||||||||||
Commercial / Industrial | 5 | 889 | 5 | 2,129 | 1 | 53 | ||||||||||||||||||||
Home Equity / Improvement | 3 | 315 | 7 | 166 | - | - | ||||||||||||||||||||
Consumer | - | - | - | - | - | - | ||||||||||||||||||||
Total | 18 | $ | 2,438 | 23 | $ | 3,515 | 4 | $ | 1,754 | |||||||||||||||||
The TDRs that subsequently defaulted described above increased the ALLL by $21,000 after $58,000 in charge-offs for the year ended December 31, 2013, decreased the ALLL by $631,000 after $1.5 million in charge-offs for the year ended December 31, 2012, and increased the ALLL by $29,000 after $500,000 in charge-offs for the year ended December 31, 2011. | ||||||||||||||||||||||||||
A default for purposes of this disclosure is a TDR loan in which the borrower is 90 days contractually past due under the modified terms. | ||||||||||||||||||||||||||
The terms of certain other loans were modified during the periods ending December 31, 2013 and 2012 that did not meet the definition of a TDR. The modification of these loans involved a modification of the terms of a loan to borrowers who were not experiencing financial difficulties. A total of 152 loans were modified under this definition during the twelve month period ended December 31, 2013 and a total of 343 loans were modified under this definition during the twelve month period ended December 31, 2012. | ||||||||||||||||||||||||||
In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed on the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. | ||||||||||||||||||||||||||
Credit Quality Indicators | ||||||||||||||||||||||||||
Loans are categorized into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Loans are analyzed individually by classifying the loans as to credit risk. This analysis includes all non-homogeneous loans, such as commercial and commercial real estate loans and certain homogenous mortgage, home equity and consumer loans. This analysis is performed on a quarterly basis. First Defiance uses the following definitions for risk ratings: | ||||||||||||||||||||||||||
Special Mention. Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date. | ||||||||||||||||||||||||||
Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. | ||||||||||||||||||||||||||
Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | ||||||||||||||||||||||||||
Not Graded. Loans classified as not graded are generally smaller balance residential real estate, home equity and consumer installment loans which are originated primarily by using an automated underwriting system. These loans are monitored based on their delinquency status and are evaluated individually only if they are seriously delinquent. | ||||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. As of December 31, 2013, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: (In Thousands) | ||||||||||||||||||||||||||
Class | Pass | Special | Substandard | Doubtful | Not | Total | ||||||||||||||||||||
Mention | Graded | |||||||||||||||||||||||||
1-4 Family Owner Occupied | $ | 4,287 | $ | 18 | $ | 3,515 | $ | - | $ | 121,765 | $ | 129,585 | ||||||||||||||
1-4 Family Non Owner Occupied | 51,660 | 2,894 | 5,699 | - | 6,359 | 66,612 | ||||||||||||||||||||
Total 1-4 Family Real Estate | 55,947 | 2,912 | 9,214 | - | 128,124 | 196,197 | ||||||||||||||||||||
Multi-Family Residential Real Estate | 145,407 | 875 | 1,888 | - | 964 | 149,134 | ||||||||||||||||||||
CRE Owner Occupied | 291,770 | 10,584 | 11,665 | - | 1,734 | 315,753 | ||||||||||||||||||||
CRE Non Owner Occupied | 200,790 | 10,254 | 17,185 | - | 91 | 228,320 | ||||||||||||||||||||
Agriculture Land | 80,418 | 578 | 1,051 | - | - | 82,047 | ||||||||||||||||||||
Other CRE | 40,676 | 2,074 | 3,104 | - | 731 | 46,585 | ||||||||||||||||||||
Total Commercial Real Estate | 613,654 | 23,490 | 33,005 | - | 2,556 | 672,705 | ||||||||||||||||||||
Construction | 43,465 | - | 263 | - | 10,002 | 53,730 | ||||||||||||||||||||
Commercial Working Capital | 148,703 | 3,429 | 3,660 | - | - | 155,792 | ||||||||||||||||||||
Commercial Other | 219,790 | 6,994 | 6,899 | - | - | 233,683 | ||||||||||||||||||||
Total Commercial | 368,493 | 10,423 | 10,559 | - | - | 389,475 | ||||||||||||||||||||
Home Equity and Home Improvement | - | - | 755 | 45 | 106,587 | 107,387 | ||||||||||||||||||||
Consumer Finance | - | - | 31 | - | 16,860 | 16,891 | ||||||||||||||||||||
Total Loans | $ | 1,226,966 | $ | 37,700 | $ | 55,715 | $ | 45 | $ | 265,093 | $ | 1,585,519 | ||||||||||||||
As of December 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: (In Thousands) | ||||||||||||||||||||||||||
Class | Pass | Special | Substandard | Doubtful | Not | Total | ||||||||||||||||||||
Mention | Graded | |||||||||||||||||||||||||
1-4 Family Owner Occupied | $ | 4,221 | $ | 75 | $ | 3,617 | $ | 234 | $ | 120,002 | $ | 128,149 | ||||||||||||||
1-4 Family Non Owner Occupied | 55,771 | 2,453 | 8,248 | - | 6,693 | 73,165 | ||||||||||||||||||||
Total 1-4 Family Real Estate | 59,992 | 2,528 | 11,865 | 234 | 126,695 | 201,314 | ||||||||||||||||||||
Multi-Family Residential Real Estate | 118,121 | 910 | 2,404 | - | 1,020 | 122,455 | ||||||||||||||||||||
CRE Owner Occupied | 292,765 | 10,440 | 18,740 | - | 2,378 | 324,323 | ||||||||||||||||||||
CRE Non Owner Occupied | 207,745 | 9,077 | 22,615 | - | 90 | 239,527 | ||||||||||||||||||||
Agriculture Land | 69,924 | 769 | 1,514 | - | - | 72,207 | ||||||||||||||||||||
Other CRE | 31,875 | 891 | 7,222 | - | 978 | 40,966 | ||||||||||||||||||||
Total Commercial Real Estate | 602,309 | 21,177 | 50,091 | - | 3,446 | 677,023 | ||||||||||||||||||||
Construction | 11,360 | - | 45 | - | 7,891 | 19,296 | ||||||||||||||||||||
Commercial Working Capital | 156,433 | 3,587 | 2,449 | - | - | 162,469 | ||||||||||||||||||||
Commercial Other | 208,783 | 5,204 | 8,413 | - | - | 222,400 | ||||||||||||||||||||
Total Commercial | 365,216 | 8,791 | 10,862 | - | - | 384,869 | ||||||||||||||||||||
Home Equity and Home Improvement | - | - | 668 | 64 | 108,462 | 109,194 | ||||||||||||||||||||
Consumer Finance | - | - | 70 | - | 15,869 | 15,939 | ||||||||||||||||||||
Total Loans | $ | 1,156,998 | $ | 33,406 | $ | 76,005 | $ | 298 | $ | 263,383 | $ | 1,530,090 | ||||||||||||||
Certain loans acquired had evidence that the credit quality of the loan had deteriorated since its origination and in management’s assessment at the acquisition date it was probable that the First Defiance would be unable to collect all contractually required payments due. In accordance with FASB ASC Topic 310 Subtopic 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, these loans have been recorded based on management’s estimate of the fair value of the loans. Details of these loans are as follows: | ||||||||||||||||||||||||||
Contractual | Impairment | Recorded | ||||||||||||||||||||||||
Amount | Discount | Loan | ||||||||||||||||||||||||
Receivable | Receivable | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||
Balance at January 1, 2011 | $ | 3,482 | $ | 1,286 | $ | 2,196 | ||||||||||||||||||||
Principal payments received | -413 | - | -413 | |||||||||||||||||||||||
Loans charged off | -250 | -250 | - | |||||||||||||||||||||||
Additional provision for loan loss | -613 | - | -613 | |||||||||||||||||||||||
Loan accretion recorded | - | -33 | 33 | |||||||||||||||||||||||
Balance at December 31, 2011 | 2,206 | 1,003 | 1,203 | |||||||||||||||||||||||
Principal payments received | -697 | - | -697 | |||||||||||||||||||||||
Loans charged off | -487 | -487 | - | |||||||||||||||||||||||
Additional provision for loan loss | -167 | - | -167 | |||||||||||||||||||||||
Loan accretion recorded | - | -173 | 173 | |||||||||||||||||||||||
Balance at December 31, 2012 | 855 | 343 | 512 | |||||||||||||||||||||||
Principal payments received | -108 | - | -108 | |||||||||||||||||||||||
Loans charged off | -41 | -41 | - | |||||||||||||||||||||||
Additional provision for loan loss | -203 | - | -203 | |||||||||||||||||||||||
Loan accretion recorded | - | -29 | 29 | |||||||||||||||||||||||
Balance at December 31, 2013 | $ | 503 | $ | 273 | $ | 230 | ||||||||||||||||||||
Loans to executive officers, directors, and their affiliates are as follows (in thousands): | ||||||||||||||||||||||||||
Years Ended December 31 | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Beginning balance | $ | 3,489 | $ | 4,775 | ||||||||||||||||||||||
New loans | 8,874 | 5,036 | ||||||||||||||||||||||||
Effect of changes in composition of related parties | - | -878 | ||||||||||||||||||||||||
Repayments | -8,651 | -5,444 | ||||||||||||||||||||||||
Ending Balance | $ | 3,712 | $ | 3,489 | ||||||||||||||||||||||
Mortgage_Banking
Mortgage Banking | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Mortgage Banking [Abstract] | ' | |||||||||||
Mortgage Banking [Text Block] | ' | |||||||||||
8. Mortgage Banking | ||||||||||||
Net revenues from the sales and servicing of mortgage loans consisted of the following: | ||||||||||||
Years Ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In Thousands) | ||||||||||||
Gain from sale of mortgage loans | $ | 5,716 | $ | 10,599 | $ | 5,607 | ||||||
Mortgage loan servicing revenue (expense): | ||||||||||||
Mortgage loan servicing revenue | 3,564 | 3,387 | 3,403 | |||||||||
Amortization of mortgage servicing rights | -2,098 | -3,562 | -2,169 | |||||||||
Mortgage servicing rights valuation adjustments | 1,261 | -759 | -404 | |||||||||
2,727 | -934 | 830 | ||||||||||
Net revenue from sale and servicing of mortgage loans | $ | 8,443 | $ | 9,665 | $ | 6,437 | ||||||
The unpaid principal balance of residential mortgage loans serviced for third parties was $1.4 billion at December 31, 2013 and $1.3 billion at December 31, 2012. | ||||||||||||
Activity for capitalized mortgage servicing rights and the related valuation allowance follows: | ||||||||||||
Years Ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In Thousands) | ||||||||||||
Mortgage servicing assets: | ||||||||||||
Balance at beginning of period | $ | 10,121 | $ | 10,219 | $ | 10,602 | ||||||
Loans sold, servicing retained | 2,110 | 3,464 | 1,786 | |||||||||
Amortization | -2,098 | -3,562 | -2,169 | |||||||||
Carrying value before valuation allowance at end of period | 10,133 | 10,121 | 10,219 | |||||||||
Valuation allowance: | ||||||||||||
Balance at beginning of period | -2,288 | -1,529 | -1,125 | |||||||||
Impairment recovery (charges) | 1,261 | -759 | -404 | |||||||||
Balance at end of period | -1,027 | -2,288 | -1,529 | |||||||||
Net carrying value of MSRs at end of period | $ | 9,106 | $ | 7,833 | $ | 8,690 | ||||||
Fair value of MSRs at end of period | $ | 9,686 | $ | 7,833 | $ | 8,690 | ||||||
Amortization of mortgage servicing rights is computed based on payments and payoffs of the related mortgage loans serviced. | ||||||||||||
The Company’s servicing portfolio is comprised of the following: | ||||||||||||
December 31 | ||||||||||||
2013 | 2012 | |||||||||||
Number of | Principal | Number of | Principal | |||||||||
Investor | Loans | Outstanding | Loans | Outstanding | ||||||||
(In Thousands) | ||||||||||||
Fannie Mae | 5,304 | $ | 527,666 | 5,190 | $ | 522,978 | ||||||
Freddie Mac | 8,873 | 829,594 | 8,550 | 786,124 | ||||||||
Federal Home Loan Bank | 116 | 12,093 | 166 | 18,330 | ||||||||
Other | 26 | 1,888 | 21 | 1,285 | ||||||||
Totals | 14,319 | $ | 1,371,241 | 13,927 | $ | 1,328,717 | ||||||
Custodial escrow balances maintained in connection with serviced loans were $10.4 million and $9.7 million at December 31, 2013 and 2012, respectively. | ||||||||||||
Significant assumptions at December 31, 2013 used in determining the value of MSRs include a weighted average prepayment rate of 212 prepayment speed assumption (“PSA”) and a weighted average discount rate of 10.04%. Significant assumptions at December 31, 2012 used in determining the value of MSRs include a weighted average prepayment rate of 328 PSA and a weighted average discount rate of 10.04%. | ||||||||||||
A sensitivity analysis of the current fair value to immediate 10% and 20% adverse changes in those assumptions as of December 31, 2013 is presented below. These sensitivities are hypothetical. Changes in fair value based on 10% and 20% variation in assumptions generally cannot be extrapolated because the relationship of the change in the assumption to the change in fair value may not be linear. Also, the effect of a variation in a particular assumption on the fair value of the MSR is calculated independently without changing any other assumption. In reality, changes in one factor may result in changes in another (for example, changes in mortgage interest rates, which drive changes in prepayment rate estimates, could result in changes in the discount rates), which might magnify or counteract the sensitivities. | ||||||||||||
10% Adverse | 20% Adverse | |||||||||||
Change | Change | |||||||||||
(In Thousands) | ||||||||||||
Assumption: | ||||||||||||
Decline in fair value from increase in prepayment rate | $ | 454 | $ | 861 | ||||||||
Declines in fair value from increase in discount rate | 318 | 725 | ||||||||||
Premises_and_Equipment
Premises and Equipment | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | |||||||
9. Premises and Equipment | ||||||||
Premises and equipment are summarized as follows: | ||||||||
31-Dec | ||||||||
2013 | 2012 | |||||||
(In Thousands) | ||||||||
Cost: | ||||||||
Land | $ | 7,960 | $ | 7,376 | ||||
Land improvements | 1,310 | 1,310 | ||||||
Buildings | 39,716 | 39,691 | ||||||
Leasehold improvements | 469 | 435 | ||||||
Furniture, fixtures and equipment | 28,654 | 27,596 | ||||||
Construction in process | 514 | 262 | ||||||
78,623 | 76,670 | |||||||
Less allowances for depreciation and amortization | 40,026 | 37,007 | ||||||
$ | 38,597 | $ | 39,663 | |||||
Depreciation expense was $3.1 million, $3.4 million and $3.4 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||
Lease Agreements | ||||||||
The Company has entered into lease agreements covering the five First Insurance Group’s offices, two banking center locations, two land leases for which the Company owns the banking centers, one land lease which is primarily used for parking, one land lease for future branch development and numerous stand-alone Automated Teller Machine sites with varying terms and options to renew. | ||||||||
Future minimum commitments under non-cancelable operating leases are as follows (in thousands): | ||||||||
2014 | $ | 706 | ||||||
2015 | 613 | |||||||
2016 | 601 | |||||||
2017 | 512 | |||||||
2018 | 471 | |||||||
Thereafter | 4,745 | |||||||
Total | $ | 7,648 | ||||||
Rentals under operating leases amounted to $723,000, $1.2 million and $669,000 in 2013, 2012, and 2011, respectively. | ||||||||
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | ||||||||||
10. Goodwill and Intangible Assets | |||||||||||
Goodwill | |||||||||||
The change in the carrying amount of goodwill for the year is as follows (In Thousands): | |||||||||||
December 31 | |||||||||||
2013 | 2012 | ||||||||||
Beginning balance | $ | 61,525 | $ | 61,525 | |||||||
Goodwill acquired or adjusted during the year | - | - | |||||||||
Ending balance | $ | 61,525 | $ | 61,525 | |||||||
Acquired Intangible Assets | |||||||||||
Activity in intangible assets for the years ended December 31, 2013, 2012 and 2011 was as follows: | |||||||||||
Gross | |||||||||||
Carrying | Accumulated | Net | |||||||||
Amount | Amortization | Value | |||||||||
(In Thousands) | |||||||||||
Balance as of January 1, 2011 | $ | 12,837 | $ | -6,709 | $ | 6,128 | |||||
Intangible assets acquired | 1,465 | - | 1,465 | ||||||||
Amortization of intangible assets | - | -1,442 | -1,442 | ||||||||
Balance as of December 31, 2011 | 14,302 | -8,151 | 6,151 | ||||||||
Amortization of intangible assets | - | -1,413 | -1,413 | ||||||||
Balance as of December 31, 2012 | 14,302 | -9,564 | 4,738 | ||||||||
Amortization of intangible assets | - | -1,241 | -1,241 | ||||||||
Balance as of December 31, 2013 | $ | 14,302 | $ | -10,805 | $ | 3,497 | |||||
Estimated amortization expense for each of the next five years and thereafter (in thousands) is as follows: | |||||||||||
2014 | $ | 1,102 | |||||||||
2015 | 687 | ||||||||||
2016 | 501 | ||||||||||
2017 | 372 | ||||||||||
2018 | 301 | ||||||||||
Thereafter | 534 | ||||||||||
Total | $ | 3,497 | |||||||||
Deposits
Deposits | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Deposits [Abstract] | ' | ||||||||||
Deposit Liabilities Disclosures [Text Block] | ' | ||||||||||
11. Deposits | |||||||||||
The following schedule sets forth interest expense by type of deposit: | |||||||||||
Years Ended December 31 | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In Thousands) | |||||||||||
Checking and money market accounts | $ | 1,125 | $ | 1,368 | $ | 2,144 | |||||
Savings accounts | 90 | 116 | 249 | ||||||||
Certificates of deposit | 4,698 | 6,685 | 9,782 | ||||||||
Totals | $ | 5,913 | $ | 8,169 | $ | 12,175 | |||||
Accrued interest payable on deposit accounts amounted to $48,000 and $71,000 December 31, 2013 and 2012, respectively, which was comprised of $34,000 and $14,000 for certificates of deposit and checking and money market accounts, respectively, at December 31, 2013 and $58,000 and $13,000 for certificates of deposit and checking and money market accounts, respectively, at December 31, 2012. | |||||||||||
A summary of deposit balances is as follows: | |||||||||||
31-Dec | |||||||||||
2013 | 2012 | ||||||||||
(In Thousands) | |||||||||||
Non-interest bearing checking accounts | $ | 348,943 | $ | 315,132 | |||||||
Interest bearing checking and money market accounts | 715,939 | 664,857 | |||||||||
Savings deposits | 185,121 | 166,945 | |||||||||
Retail certificates of deposit less than $100,000 | 313,335 | 342,472 | |||||||||
Retail certificates of deposit greater than $100,000 | 172,454 | 176,029 | |||||||||
Brokered or national certificates of deposit | - | 2,037 | |||||||||
$ | 1,735,792 | $ | 1,667,472 | ||||||||
Scheduled maturities of certificates of deposit at December 31, 2013 are as follows (in thousands): | |||||||||||
2014 | $ | 296,186 | |||||||||
2015 | 87,059 | ||||||||||
2016 | 51,784 | ||||||||||
2017 | 8,980 | ||||||||||
2018 | 41,631 | ||||||||||
2019 and thereafter | 149 | ||||||||||
Total | $ | 485,789 | |||||||||
At December 31, 2013 and 2012, deposits of $823.7 million and $749.2 million, respectively, were in excess of $100,000. Of these same deposits at December 31, 2013 and 2012, deposits of $393.0 million and $387.0 million, respectively, were in excess of the $250,000 FDIC insurance limit. At December 31, 2013 and 2012, $54.1 million and $57.5 million, respectively, in investment securities were pledged as collateral against public deposits for certificates in excess of $100,000 and an additional $78.5 million and $77.5 million of securities were pledged at December 31, 2013 and December 31, 2012, respectively, as collateral against deposits from private entities in excess of $100,000. | |||||||||||
Advances_from_Federal_Home_Loa
Advances from Federal Home Loan Bank | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Advances From Federal Home Loan Banks [Abstract] | ' | ||||||||
Federal Home Loan Bank Advances, Disclosure [Text Block] | ' | ||||||||
12. Advances from Federal Home Loan Bank | |||||||||
First Federal has the ability to borrow funds from the FHLB. First Federal pledges its single-family residential mortgage loan portfolio, certain investment securities, certain first mortgage home equity loans, certain multi-family or non-residential real estate loans, and certain agriculture real estate loans as security for these advances. Advances secured by investment securities must have collateral of at least 105% of the borrowing. Advances secured by residential mortgages must have collateral of at least 125% of the borrowings. Advances secured by multi-family or non-residential real estate loans, and agriculture real estate loans must have 300% collateral coverage. The total level of borrowing is also limited to 50% of total assets and at least 50% of the borrowings must be secured by either one-to-four family residential mortgages or investment securities. Total loans pledged to the FHLB at December 31, 2013 and December 31, 2012 were $676.6 million and $666.5 million, respectively. First Federal may obtain advances of up to approximately $428.7 million from the FHLB at December 31, 2013. | |||||||||
At year-end, advances from the FHLB were as follows: | |||||||||
Principal Terms | Advance | Range of Maturities | Weighted | ||||||
Amount | Average | ||||||||
Interest | |||||||||
Rate | |||||||||
(in Thousands) | |||||||||
31-Dec-13 | |||||||||
Putable advances | $ | 12,000 | January 2015 to March 2018 | 2.72 | % | ||||
Amortizable mortgage advances | 10,520 | December 2015 to September 2018 | 1.95 | % | |||||
$ | 22,520 | ||||||||
31-Dec-12 | |||||||||
Putable advances | $ | 12,000 | January 2015 to March 2018 | 2.72 | % | ||||
Amortizable mortgage advances | 796 | Dec-15 | 4.1 | % | |||||
$ | 12,796 | ||||||||
Putable advances are callable at the option of the FHLB on a quarterly basis. | |||||||||
Estimated future minimum payments by fiscal year based on maturity date and current interest rates are as follows (in thousands): | |||||||||
2014 | $ | 1,502 | |||||||
2015 | 8,944 | ||||||||
2016 | 1,212 | ||||||||
2017 | 1,212 | ||||||||
2018 | 11,065 | ||||||||
Total minimum payments | 23,935 | ||||||||
Less amounts representing interest | 1,415 | ||||||||
Totals | $ | 22,520 | |||||||
First Defiance also utilizes short-term advances from the FHLB to meet cash flow needs and for short-term investment purposes. First Defiance borrows short-term advances under a variety of programs at FHLB. At December 31, 2013 and December 31, 2012, there were no amounts outstanding under First Defiance’s Cash Management Advance line of credit. The total available under this line is $15.0 million. In addition, First Defiance has a $100.0 million REPO Advance line of credit available. There were no borrowings against this line at December 31, 2013 and December 31, 2012. Amounts are generally borrowed under the Cash Management and REPO lines on an overnight basis. | |||||||||
Junior_Subordinated_Debentures
Junior Subordinated Debentures Owed to Unconsolidated Subsidiary Trust | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust [Abstract] | ' | |||||||
Junior Subordinated Debentures Owed To Unconsolidated Subsidiary Trust Disclosure [Text Block] | ' | |||||||
13. Junior Subordinated Debentures Owed to Unconsolidated Subsidiary Trust | ||||||||
In March 2007, the Company sponsored an affiliated trust, First Defiance Statutory Trust II (Trust Affiliate II) that issued $15 million of Guaranteed Capital Trust Securities (Trust Preferred Securities). In connection with the transaction, the Company issued $15.5 million of Junior Subordinated Deferrable Interest Debentures (Subordinated Debentures) to Trust Affiliate II. The Company formed Trust Affiliate II for the purpose of issuing Trust Preferred Securities to third-party investors and investing the proceeds from the sale of these capital securities solely in Subordinated Debentures of the Company. The Subordinated Debentures held by Trust Affiliate II are the sole assets of that trust. The Company is not considered the primary beneficiary of this Trust (variable interest entity), therefore the trust is not consolidated in the Company’s financial statements, but rather the subordinated debentures are shown as a liability. Distributions on the Trust Preferred Securities issued by Trust Affiliate II are payable quarterly at a variable rate equal to the three-month LIBOR rate plus 1.5%. The Coupon rate payable on the Trust Preferred Securities issued by Trust Affiliate II was 1.75% and 1.89% as of December 31, 2013 and 2012 respectively. | ||||||||
The Trust Preferred Securities issued by Trust Affiliate II are subject to mandatory redemption, in whole or part, upon repayment of the Subordinated Debentures. The Company has entered into an agreement that fully and unconditionally guarantees the Trust Preferred Securities subject to the terms of the guarantee. The Trust Preferred Securities and Subordinated Debentures mature on June 15, 2037, but may be redeemed at the Company’s option at any time on or after June 15, 2012, or at any time upon certain events. | ||||||||
The Company also sponsors an affiliated trust, First Defiance Statutory Trust I (Trust Affiliate I), that issued $20 million of Trust Preferred Securities in 2005. In connection with this transaction, the Company issued $20.6 million of Subordinated Debentures to Trust Affiliate I. Trust Affiliate I was formed for the purpose of issuing Trust Preferred Securities to third-party investors and investing the proceeds from the sale of these capital securities solely in Subordinated Debentures of the Company. The Junior Debentures held by Trust Affiliate I are the sole assets of the trust. The Company is not considered the primary beneficiary of this Trust (variable interest entity), therefore the trust is not consolidated in the Company’s financial statements, but rather the subordinated debentures are shown as a liability. Distributions on the Trust Preferred Securities issued by Trust Affiliate I are payable quarterly at a variable rate equal to the three-month LIBOR rate plus 1.38%. The Coupon rate payable on the Trust Preferred Securities issued by Trust Affiliate I was 1.63% and 1.77% as of December 31, 2013 and 2012 respectively. | ||||||||
The Trust Preferred Securities issued by Trust Affiliate I are subject to mandatory redemption, in whole or in part, upon repayment of the Subordinated Debentures. The Company has entered into an agreement that fully and unconditionally guarantees the Trust Preferred Securities subject to the terms of the guarantee. The Trust Preferred Securities and Junior Debentures mature December 15, 2035 but may be redeemed by the issuer at par after October 28, 2010. | ||||||||
The subordinated debentures may be included in Tier 1 capital (with certain limitations applicable) under current regulatory guidelines and interpretations. | ||||||||
A summary of all junior subordinated debentures issued by the Company to affiliates follows. These amounts represent the par value of the obligations owed to these affiliates, including the Company’s equity interest in the trusts. Junior subordinated debentures owed to the following affiliates were as follows (In Thousands): | ||||||||
December 31 | ||||||||
2013 | 2012 | |||||||
First Defiance Statutory Trust I due December 2035 | $ | 20,619 | $ | 20,619 | ||||
First Defiance Statutory Trust II due June 2037 | 15,464 | 15,464 | ||||||
Total junior subordinated debentures owed to unconsolidated subsidiary Trusts | $ | 36,083 | $ | 36,083 | ||||
Interest on both issues of Trust Preferred Securities may be deferred for a period of up to five years at the option of the issuer. | ||||||||
Notes_Payable_and_Other_Shortt
Notes Payable and Other Short-term Borrowings | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Notes Payable and Other Short Term Borrowings [Abstract] | ' | ||||||||
Notes Payable And Other Short Term Borrowings Disclosure [Text Block] | ' | ||||||||
14. Notes Payable and Other Short-term Borrowings | |||||||||
Total short-term borrowings, revolving and term debt is summarized as follows: | |||||||||
Years Ended December 31 | |||||||||
2013 | 2012 | ||||||||
(In Thousands, Except Percentages) | |||||||||
Securities sold under agreement to repurchase | |||||||||
Amounts outstanding at year-end | $ | 51,919 | $ | 51,702 | |||||
Year-end interest rate | 0.31 | % | 0.63 | % | |||||
Average daily balance during year | 50,877 | 53,171 | |||||||
Maximum month-end balance during the year | 57,182 | 57,050 | |||||||
Average interest rate during the year | 0.44 | % | 0.7 | % | |||||
As of December 31, 2013 and December 31, 2012, First Federal had the following lines of credit facilities available for short-term borrowing purposes: | |||||||||
A $10.8 million line of credit with the Federal Reserve Bank Discount Window at an interest rate of 50 basis points over the fed funds rate. The fed funds rate as of December, 31, 2013 was 0.25%. | |||||||||
A $15 million line of credit with the Bank of America. The rate on this line of credit is Bank of America’s fed funds rate, which floats daily. | |||||||||
Other_Noninterest_Expense
Other Noninterest Expense | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Other Expense, Nonoperating [Abstract] | ' | ||||||||||
Other Expense Disclosure Non Operating [Text Block] | ' | ||||||||||
15. Other Noninterest Expense | |||||||||||
The following is a summary of other noninterest expense: | |||||||||||
Years Ended December 31 | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In Thousands) | |||||||||||
Legal and other professional fees | $ | 2,947 | $ | 2,571 | $ | 2,473 | |||||
Marketing | 1,563 | 1,400 | 1,392 | ||||||||
State franchise taxes | 2,323 | 2,495 | 2,010 | ||||||||
REO expenses and write-downs | 1,584 | 1,121 | 2,453 | ||||||||
Printing and office supplies | 449 | 527 | 502 | ||||||||
Amortization of intangibles | 1,241 | 1,413 | 1,442 | ||||||||
Postage | 531 | 567 | 674 | ||||||||
Check charge-offs and fraud losses | 172 | 153 | 493 | ||||||||
Credit and collection expense | 915 | 948 | 874 | ||||||||
Other * | 5,315 | 7,090 | 4,318 | ||||||||
Total other noninterest expense | $ | 17,040 | $ | 18,285 | $ | 16,631 | |||||
*Included in Other for 2012 is $2.0 million in FHLB pre-payment penalties. | |||||||||||
Postretirement_Benefits
Postretirement Benefits | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | |||||||||||||
16. Postretirement Benefits | ||||||||||||||
First Defiance sponsors a defined benefit postretirement plan that is intended to supplement Medicare coverage for certain retirees who meet minimum age requirements. First Federal employees who retired prior to April 1, 1997 who completed 20 years of service after age 40 receive full medical coverage at no cost. Such coverage continues for surviving spouses of those participants for one year, after which coverage may be continued provided the spouse pays 50% of the average cost. First Federal employees retiring after April 1, 1997 are provided medical benefits at a cost based on their combined age and years of service at retirement. Surviving spouses are also eligible for continued coverage after the retiree is deceased at a subsidy level that is 10% less than what the retiree is eligible for. First Federal employees retiring before July 1, 1997 receive dental and vision care in addition to medical coverage. First Federal employees who retire after July 1, 1997 are not eligible for dental or vision care, but those retirees and their spouses each receive up to $200 annually in a medical spending account. Funds in that account may be used for payment of uninsured medical expenses. | ||||||||||||||
First Federal employees who were born after December 31, 1950 are not eligible for the medical coverage described above at retirement. Rather, a medical spending account of up to $10,000 (based on the participant’s age and years of service) will be established to reimburse medical expenses for those individuals. First Insurance employees who were born before December 31, 1950 can continue coverage until they reach age 65, or in lieu of continuing coverage, can elect the medical spending account option, subject to eligibility requirements. Employees hired or acquired after January 1, 2003 are eligible only for the medical spending account option. | ||||||||||||||
Included in accumulated other comprehensive income at December 31, 2013, 2012 and 2011 are the following amounts that have not yet been recognized in net periodic benefit cost: | ||||||||||||||
31-Dec | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
(In Thousands) | ||||||||||||||
Unrecognized prior service cost | $ | 78 | $ | 30 | $ | 46 | ||||||||
Unrecognized actuarial losses | 477 | 858 | 1,041 | |||||||||||
Total recognized in Accumulated Other Comprehensive Income | 555 | 888 | 1,087 | |||||||||||
Income tax effect | -194 | -311 | -380 | |||||||||||
Net amount recognized in Accumulated Other Comprehensive Income | $ | 361 | $ | 577 | $ | 707 | ||||||||
The prior service cost and actuarial loss included in other comprehensive income and expected to be recognized in net postretirement benefit cost during the fiscal year-ended December 31, 2014 is $12,000 ($8,000 net of tax) and $14,000 ($9,000 net of tax), respectively. | ||||||||||||||
Reconciliation of Funded Status and Accumulated Benefit Obligation | ||||||||||||||
The plan is not currently funded. The following table summarizes benefit obligation and plan asset activity for the plan measured as of December 31 each year: | ||||||||||||||
December 31 | ||||||||||||||
2013 | 2012 | |||||||||||||
(In Thousands) | ||||||||||||||
Change in benefit obligation: | ||||||||||||||
Benefit obligation at beginning of year | $ | 3,140 | $ | 3,117 | ||||||||||
Service cost | 82 | 88 | ||||||||||||
Interest cost | 118 | 120 | ||||||||||||
Participant contribution | 25 | 16 | ||||||||||||
Actuarial (gains) / losses | -347 | -148 | ||||||||||||
Acquisition | - | 60 | ||||||||||||
Benefits paid | -139 | -113 | ||||||||||||
Benefit obligation at end of year | 2,878 | 3,140 | ||||||||||||
Change in fair value of plan assets: | ||||||||||||||
Balance at beginning of year | - | - | ||||||||||||
Employer contribution | 114 | 97 | ||||||||||||
Participant contribution | 25 | 16 | ||||||||||||
Benefits paid | -139 | -113 | ||||||||||||
Balance at end of year | - | - | ||||||||||||
Funded status at end of year | $ | -2,878 | $ | -3,140 | ||||||||||
Net periodic postretirement benefit cost includes the following components: | ||||||||||||||
Years Ended December 31 | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
(In Thousands) | ||||||||||||||
Service cost-benefits attributable to service during the period | $ | 82 | $ | 88 | $ | 73 | ||||||||
Interest cost on accumulated postretirement benefit obligation | 118 | 120 | 128 | |||||||||||
Net amortization and deferral | 46 | 51 | 25 | |||||||||||
Net periodic postretirement benefit cost | 246 | 259 | 226 | |||||||||||
Net (gain) / loss during the year | -347 | -148 | 537 | |||||||||||
Impact of prior year acquisition | 60 | - | - | |||||||||||
Amortization of prior service cost and actuarial losses | -46 | -51 | -25 | |||||||||||
Total recognized in comprehensive income | -333 | -199 | 512 | |||||||||||
Total recognized in net periodic postretirement benefit | $ | -87 | $ | 60 | $ | 738 | ||||||||
cost and other comprehensive income | ||||||||||||||
The following assumptions were used in determining the components of the postretirement benefit obligation: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Weighted average discount rates: | ||||||||||||||
Used to determine benefit obligations at December 31 | 4.75 | % | 4 | % | 4.25 | % | ||||||||
Used to determine net periodic postretirement benefit cost for years ended | 4 | % | 4.25 | % | 5.25 | % | ||||||||
December 31 | ||||||||||||||
Assumed health care cost trend rates at December 31: | ||||||||||||||
Health care cost trend rate assumed for next year | 7.5 | % | 8 | % | 7.5 | % | ||||||||
Rate to which the cost trend rate is assumed to decline (the ultimate | 5 | % | 5 | % | 4 | % | ||||||||
trend rate) | ||||||||||||||
Year that rate reaches ultimate trend rate | 2019 | 2019 | 2019 | |||||||||||
The following benefits are expected to be paid over the next five years and in aggregate for the next five years thereafter. Because the plan is unfunded, the expected net benefits to be paid and the estimated Company contributions are the same amount. | ||||||||||||||
Expected to be Paid | ||||||||||||||
(In Thousands) | ||||||||||||||
2014 | $ | 140 | ||||||||||||
2015 | 128 | |||||||||||||
2016 | 132 | |||||||||||||
2017 | 160 | |||||||||||||
2018 | 153 | |||||||||||||
2019 through 2023 | 892 | |||||||||||||
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effect: | ||||||||||||||
One-Percentage-Point | One-Percentage-Point | |||||||||||||
Increase | Decrease | |||||||||||||
Year Ended December 31 | Year Ended December 31 | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(In Thousands) | ||||||||||||||
Effect on total of service and interest cost | $ | 28 | $ | 30 | $ | -24 | $ | -25 | ||||||
Effect on postretirement benefit obligation | 351 | 406 | -299 | -344 | ||||||||||
The Company expects to contribute $140,000 before reflecting expected Medicare retiree drug subsidy payments in 2014. | ||||||||||||||
Regulatory_Matters
Regulatory Matters | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | ||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | ' | ||||||||||||||||||
17. Regulatory Matters | |||||||||||||||||||
First Federal is subject to minimum capital adequacy guidelines. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators, which could have a material impact on First Federal’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, First Federal must maintain capital amounts in excess of specified minimum ratios based on quantitative measures of First Federal’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. | |||||||||||||||||||
Quantitative measures to ensure capital adequacy require First Federal to maintain minimum amounts and ratios (as set forth in the table below) of total and Tier 1 capital (as defined in the regulations) to risk-weighted assets, and Tier 1 capital to adjusted total assets. | |||||||||||||||||||
The following schedule presents First Defiance consolidated and First Federal’s regulatory capital ratios as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||
December 31, 2013 | |||||||||||||||||||
Actual | Minimum Required for | Minimum Required for Well | |||||||||||||||||
Adequately Capitalized | Capitalized | ||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||
Tier 1 Capital (1) | |||||||||||||||||||
Consolidated | $ | 246,258 | 11.86 | % | $ | 83,045 | 4 | % | N/A | N/A | |||||||||
First Federal | $ | 235,699 | 11.36 | % | $ | 82,978 | 4 | % | $ | 103,722 | 5 | % | |||||||
Tier 1 Capital (to Risk | |||||||||||||||||||
Weighted Assets) (1) | |||||||||||||||||||
Consolidated | $ | 246,258 | 13.98 | % | $ | 70,473 | 4 | % | N/A | N/A | |||||||||
First Federal | $ | 235,699 | 13.39 | % | $ | 70,418 | 4 | % | $ | 105,627 | 6 | % | |||||||
Total Capital (to Risk | |||||||||||||||||||
Weighted Assets) (1) | |||||||||||||||||||
Consolidated | $ | 268,317 | 15.23 | % | $ | 140,947 | 8 | % | N/A | N/A | |||||||||
First Federal | $ | 257,741 | 14.64 | % | $ | 140,836 | 8 | % | $ | 176,046 | 10 | % | |||||||
-1 | Core capital is computed as a percentage of adjusted total assets of $2.08 billion and $2.07 billion for consolidated and the bank, respectively. Risk-based capital is computed as a percentage of total risk-weighted assets of $1.76 billion and $1.76 billion for consolidated and First Federal, respectively. | ||||||||||||||||||
December 31, 2012 | |||||||||||||||||||
Actual | Minimum Required for | Minimum Required for Well | |||||||||||||||||
Adequately Capitalized | Capitalized | ||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||
Tier 1 Capital (1) | |||||||||||||||||||
Consolidated | $ | 226,931 | 11.48 | % | $ | 79,056 | 4 | % | N/A | N/A | |||||||||
First Federal Bank | $ | 215,432 | 10.92 | % | $ | 78,914 | 4 | % | $ | 98,642 | 5 | % | |||||||
Tier 1 Capital (to Risk | |||||||||||||||||||
Weighted Assets) (1) | |||||||||||||||||||
Consolidated | $ | 226,931 | 13.41 | % | $ | 67,715 | 4 | % | N/A | N/A | |||||||||
First Federal Bank | $ | 215,432 | 12.74 | % | $ | 67,632 | 4 | % | $ | 101,448 | 6 | % | |||||||
Total Capital (to Risk | |||||||||||||||||||
Weighted Assets) (1) | |||||||||||||||||||
Consolidated | $ | 248,161 | 14.66 | % | $ | 135,430 | 8 | % | N/A | N/A | |||||||||
First Federal Bank | $ | 236,635 | 14 | % | $ | 135,264 | 8 | % | $ | 169,080 | 10 | % | |||||||
-1 | Core capital is computed as a percentage of adjusted total assets of $2.00 billion and $1.99 billion for consolidated and the bank, respectively. Risk-based capital is computed as a percentage of total risk-weighted assets of $1.64 billion and $1.64 billion for consolidated and First Federal, respectively. | ||||||||||||||||||
Management believes that, as of December, 31, 2013, First Federal was “well capitalized” based on the ratios presented above. There are no conditions or events since the most recent notification from any of the regulatory agencies regarding those capital standards that management believes have changed any of the well capitalized categorizations of First Federal. First Defiance does not have capital requirements at this time. | |||||||||||||||||||
First Federal is subject to the regulatory capital requirements administered by the OCC and FDIC. Regulatory authorities can initiate certain mandatory actions if First Federal fails to meet the minimum capital requirements, which could have a direct material effect on the Corporation’s financial statements. Management believes, as of December 31, 2013, that First Federal meets all capital adequacy requirements to which they are subject. | |||||||||||||||||||
First Defiance is a unitary thrift holding company and is regulated by the Federal Reserve. First Defiance is subject to regulatory capital requirements under the Federal Reserve. | |||||||||||||||||||
Dividend Restrictions - Dividends paid by First Federal to First Defiance are subject to various regulatory restrictions. First Federal paid $3.0 million in dividends in 2013 and $37.0 million in 2012. First Federal can initiate dividend payments equal to its net profits (as defined by statute) for 2012 and 2013 plus 2014 net profits. During 2014, First Federal can declare dividends in the amount of $360,000 from its earnings in 2012 and 2013 and from any of its 2014 net profits to First Defiance. First Insurance paid $1.5 million in dividends in 2013 and $300,000 in dividends to First Defiance in 2012. | |||||||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||
Income Tax Disclosure [Text Block] | ' | ||||||||||
18. Income Taxes | |||||||||||
The components of income tax expense are as follows: | |||||||||||
Years Ended December 31 | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In Thousands) | |||||||||||
Current: | |||||||||||
Federal | $ | 7,751 | $ | 7,862 | $ | 3,714 | |||||
State and local | 9 | -50 | -91 | ||||||||
Deferred | 1,518 | 200 | 3,042 | ||||||||
$ | 9,278 | $ | 8,012 | $ | 6,665 | ||||||
The provision for income taxes differs from that computed at the statutory corporate tax rate as follows: | |||||||||||
Years Ended December 31 | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In Thousands) | |||||||||||
Tax expense at statutory rate (35%) | $ | 11,030 | $ | 9,337 | $ | 7,769 | |||||
Increases (decreases) in taxes from: | |||||||||||
State income tax – net of federal tax benefit | 4 | -32 | -59 | ||||||||
Tax exempt interest income, net of TEFRA | -1,043 | -1,047 | -926 | ||||||||
Bank owned life insurance | -449 | -374 | -230 | ||||||||
Stock option expense | 12 | 22 | 36 | ||||||||
Captive insurance | -415 | - | - | ||||||||
Other | 139 | 106 | 75 | ||||||||
Totals | $ | 9,278 | $ | 8,012 | $ | 6,665 | |||||
Deferred federal income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. | |||||||||||
Significant components of First Defiance’s deferred federal income tax assets and liabilities are as follows: | |||||||||||
31-Dec | |||||||||||
2013 | 2012 | ||||||||||
(In Thousands) | |||||||||||
Deferred federal income tax assets: | |||||||||||
Allowance for loan losses | $ | 8,798 | $ | 9,349 | |||||||
Postretirement benefit costs | 1,013 | 1,078 | |||||||||
Deferred compensation | 1,412 | 1,095 | |||||||||
Impaired loans | 986 | 1,531 | |||||||||
Capital loss carry-forward | 555 | 596 | |||||||||
Impaired investments | 971 | 846 | |||||||||
Accrued vacation | 581 | 499 | |||||||||
Allowance for real estate held for sale losses | 277 | 484 | |||||||||
Deferred loan origination fees and costs | 265 | 251 | |||||||||
Other | 718 | 844 | |||||||||
Total deferred federal income tax assets | 15,576 | 16,573 | |||||||||
Deferred federal income tax liabilities: | |||||||||||
FHLB stock dividends | 3,238 | 3,259 | |||||||||
Goodwill | 4,586 | 4,293 | |||||||||
Mortgage servicing rights | 3,211 | 2,742 | |||||||||
Fixed assets | 1,693 | 1,353 | |||||||||
Other intangible assets | 607 | 954 | |||||||||
Loan mark to market | 515 | 766 | |||||||||
Net unrealized gains on available-for-sale securities | 488 | 2,612 | |||||||||
Prepaid expenses | 617 | 464 | |||||||||
Other | 56 | 52 | |||||||||
Total deferred federal income tax liabilities | 15,011 | 16,495 | |||||||||
Net deferred federal income tax asset (liability) | $ | 565 | $ | 78 | |||||||
The realization of the Company’s deferred tax assets is dependent upon the Company’s ability to generate taxable income in future periods and the reversal of deferred tax liabilities during the same period and the ability to carryback any losses. The Company has evaluated the available evidence supporting the realization of its deferred tax assets and determined it is more likely than not that the assets will be realized and thus no valuation allowance was required at December 31, 2013. | |||||||||||
At December 31, 2013, the Company had capital loss carry-forwards of $1.7 million which will expire on December 31, 2014. No valuation allowance has been recorded as management has evaluated evidence supporting the realization of this asset and determined it is more likely than not that the asset will be realized. | |||||||||||
Retained earnings at December 31, 2013 include approximately $11.0 million for which no tax provision for federal income taxes has been made. This amount represents the tax bad debt reserve at December 31, 1987, which is the end of the Company’s base year for purposes of calculating the bad debt deduction for tax purposes. If this portion of retained earnings is used in the future for any purpose other than to absorb bad debts, the amount used will be added to future taxable income. The unrecorded deferred tax liability on the above amount at December 31, 2013 was approximately $3.85 million. | |||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): | |||||||||||
Balance at January 1, 2011 | $ | 281 | |||||||||
Additions based on tax positions related to the current year | - | ||||||||||
Additions for tax positions of prior years | - | ||||||||||
Reductions for tax positions of prior years | - | ||||||||||
Reductions due to the statute of limitations | -140 | ||||||||||
Settlements | - | ||||||||||
Balance at December 31, 2011 | $ | 141 | |||||||||
Balance at January 1, 2012 | $ | 141 | |||||||||
Additions based on tax positions related to the current year | - | ||||||||||
Additions for tax positions of prior years | - | ||||||||||
Reductions for tax positions of prior years | - | ||||||||||
Reductions due to the statute of limitations | -76 | ||||||||||
Settlements | - | ||||||||||
Balance at December 31, 2012 | $ | 65 | |||||||||
Balance at January 1, 2013 | $ | 65 | |||||||||
Additions based on tax positions related to the current year | - | ||||||||||
Additions for tax positions of prior years | - | ||||||||||
Reductions for tax positions of prior years | - | ||||||||||
Reductions due to the statute of limitations | -65 | ||||||||||
Settlements | - | ||||||||||
Balance at December 31, 2013 | $ | - | |||||||||
The Company does not expect the total amount of unrecognized tax benefits to significantly increase in the next twelve months. | |||||||||||
The total amount of interest and penalties recorded in the income statement, net of the related federal tax effect, for the year ended December 31, 2013 was a net reversal of $26,000, and the amount accrued for interest and penalties (net of the related federal tax effect) at December 31, 2013 was zero. | |||||||||||
The total amount of interest and penalties recorded in the income statement, net of the related federal tax effect, for the year ended December 31, 2012 was a net reversal of $22,000, and the amount accrued for interest and penalties (net of the related federal tax effect) at December 31, 2012 was $26,000. | |||||||||||
The total amount of interest and penalties recorded in the income statement, net of the related federal tax effect, for the year ended December 31, 2011 was $14,000, and the amount accrued for interest and penalties (net of the related federal tax effect) at December 31, 2011 was $73,000. | |||||||||||
The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax in the state of Indiana. The Company is no longer subject to examination by taxing authorities for years before 2009. The Company currently operates primarily in the states of Ohio and Michigan, which tax financial institutions based on their equity rather than their income. | |||||||||||
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Compensation and Employee Benefit Plans [Text Block] | ' |
19. Employee Benefit Plans | |
401(k) Plan | |
Employees of First Defiance are eligible to participate in the First Defiance Financial Corp. 401(k) Employee Savings Plan (First Defiance 401(k)) if they meet certain age and service requirements. Beginning in 2009, under the First Defiance 401(k), First Defiance matches 100% of the participants’ contributions up to 3% of compensation and then 50% of the participants’ contributions for the next 2% of compensation. Previously, matching contributions were 50% of the first 3% of participants contributions. The First Defiance 401(k) also provides for a discretionary First Defiance contribution in addition to the First Defiance matching contribution. First Defiance matching contributions totaled $868,000, $799,000 and $717,000 for the years ended December 31, 2013, 2012 and 2011, respectively. There were no discretionary contributions in any of those years. | |
Group Life Plan | |
On June 30, 2010, First Federal adopted the First Federal Bank of the Midwest Executive Group Life Plan – Post Separation (the “Group Life Plan”) in which various employees, including the Company’s named executive officers, may participate. Under the terms of the Group Life Plan, First Federal will purchase and own life insurance policies covering the lives of employees selected by the board of directors of First Federal as participants. There was ($35,000), $76,000, and $137,000 of expense recorded for the years ended December 31, 2013, 2012 and 2011, respectively, with a liability of $724,000, $760,000 and $683,000 for future benefits recorded at December 31, 2013, 2012 and 2011, respectively. In 2013, management changed the discount rate to 4.75% to reflect the current interest rate environment which resulted in a reduction of the group life plan liability as of December 31, 2013. | |
Stock_Compensation_Plans
Stock Compensation Plans | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | |||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||
20. Stock Compensation Plans | ||||||||||||
First Defiance has established equity based compensation plans for its directors and employees. On March 15, 2010, the Board adopted, and the shareholders approved at the 2010 Annual Shareholders Meeting, the First Defiance Financial Corp. 2010 Equity Incentive Plan (the “2010 Equity Plan”). The 2010 Equity Plan replaces all existing plans. All awards currently outstanding under prior plans will remain in effect in accordance with their respective terms. Any new awards will be made under the 2010 Equity Plan. The 2010 Equity Plan allows for issuance of up to 350,000 common shares through the award of options, stock grants, restricted stock units (“RSU”), stock appreciation rights or other stock-based awards. | ||||||||||||
As of December 31, 2013, 251,020 options have been granted pursuant to the 2010 equity plan and previous plans, and remain outstanding at option prices based on the market value of the underlying shares on the date the options were granted. Options granted under all plans vest 20% per year except for the 2009 grant to the Company’s executive officers, which vested 40% in 2011 and then 20% annually. All options expire ten years from the date of grant. Vested options of retirees expire on the earlier of the scheduled expiration date or three months after the retirement date. | ||||||||||||
In August 2011, the Company approved a 2011 Short-Term (“STIP”) Equity Incentive Plan and a 2011 Long-Term (“LTIP”) Equity Incentive Plan for selected members of management. The Plans were effective January 1, 2011 and provide for cash and/or equity benefits if certain performance targets are achieved. Equity awards issued under these plans will reduce the amount of the awards available to be issued under the 2010 Equity Plan. | ||||||||||||
In March 2012, the Company approved a 2012 STIP and a 2012 LTIP for selected members of management. The plans were effective January 1, 2012 and provide for cash and/or equity benefits if certain performance targets are achieved. Equity awards issued under these plans will reduce the amount of awards available to be issued under the 2010 Equity Plan. | ||||||||||||
Under the 2011 and 2012 STIPs the participants may earn up to 25% to 45% of their salary for potential payout based on the achievement of certain corporate and/or market area performance targets during the calendar year. The final value of the awards to be made under the 2012 STIP will be determined as of December 31 of each year and will be paid out in cash and/or equity, as elected by the participant, in accordance with the following vesting schedule: 50% in the first quarter after the calendar year, 25% on the one-year anniversary of the grant date, and 25% on the second-year anniversary. The participants are required to be employed on the day of payout in order to receive an award. In December 2012, the Company amended the 2011 STIP and accelerated the payout, so that the remaining 50% of the award was paid in December 2012, rather than 25% at the beginning of 2013 and 25% at the beginning of 2014. | ||||||||||||
Under the 2011 and 2012 LTIPs the participants may earn up to 25% to 45% of their salary for potential payout based on the achievement of certain corporate performance targets either over a two or three year period. The final amount of benefit under the 2011 LTIP was determined as of December 31, 2012 and the final amount of benefit under the 2012 LTIP will be determined as of December 31, 2014. The benefits earned under the plans will be paid out in cash and/or equity, as elected by the participant, in the first quarter following the close of the performance period. The participants are required to be employed on the day of payout in order to receive the payment. | ||||||||||||
In March 2013, the Company approved a 2013 STIP and a 2013 LTIP for selected members of management. Under the 2013 STIP the participants may earn up to 25% to 45% of their salary for potential payout based on the achievement of certain corporate performance targets during the calendar year. The final amount of awards earned under the 2013 STIP will be determined as of December 31, 2013 and will be paid out in cash in the first quarter of 2014. The participants are required to be employed on the day of payout in order to receive such payment. | ||||||||||||
Under the 2013 LTIP the participants may earn up to 25% to 45% of their salary, depending upon their position, for potential payout in the form of equity awards based on the achievement of certain corporate performance targets over a three year period. The Company granted 86,065 RSUs to the participants in this plan effective January 1, 2013, which represents the maximum target award. The amount of benefit under the 2013 LTIP will be determined individually at the 12 month period ending December 31, 2013, the 24 month period ending December 31, 2014 and the 36 month period ending December 31, 2015. The awards’ vesting will be as follows: 16.7% of the target award after the end of the performance period ending December 31, 2013, 27.8% of the target award at the end of the performance period ending December 31, 2014 and 55.5% of the target award at the end of the performance period ending December 31, 2015. The RSUs shall vest between 0% and 100% of the applicable portion of the target award based on the portion of the performance targets that are achieved. RSUs settle in common shares in the first quarter following the close of the applicable performance period. The participants are required to be employed on the day of payout in order to receive the payment. Equity awards issued under these plans will reduce the amount of awards available to be issued under the 2010 Equity Plan. | ||||||||||||
The fair value of each option award is estimated on the date of grant using the Black-Scholes model. Expected volatilities are based on historical volatilities of the Company’s common shares. The Company uses historical data to estimate option exercise and post-vesting termination behavior. The expected term of options granted is based on historical data and represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free | ||||||||||||
interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. There were no stock options granted in 2013, 2012 or 2011. | ||||||||||||
Following is activity under the plans during 2013: | ||||||||||||
Stock options: | Options | Weighted | Weighted | Aggregate | ||||||||
Outstanding | Average | Average | Intrinsic | |||||||||
Exercise Price | Remaining | Value | ||||||||||
Contractual | (in 000’s) | |||||||||||
Term (in years) | ||||||||||||
Options outstanding, January 1, 2013 | 312,350 | $ | 20.33 | |||||||||
Forfeited or cancelled | -22,000 | 22.31 | ||||||||||
Exercised | -39,330 | 16.55 | ||||||||||
Granted | - | - | ||||||||||
Options outstanding, December 31, 2013 | 251,020 | $ | 20.75 | 3.16 | $ | 1,415 | ||||||
Vested or expected to vest at | 251,020 | $ | 20.75 | 3.16 | $ | 1,415 | ||||||
December 31, 2013 | ||||||||||||
Exercisable at December 31, 2013 | 240,350 | $ | 21.26 | 3.06 | $ | 1,239 | ||||||
Information related to the stock option plans follows: | ||||||||||||
Year Ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in thousands, except per share amounts) | ||||||||||||
Intrinsic value of options exercised | $ | 310 | $ | 4 | $ | 1 | ||||||
Cash received from option exercises | 350 | 5 | 11 | |||||||||
Tax benefit realized from option exercises | 54 | - | - | |||||||||
Weighted average fair value of options granted | - | - | - | |||||||||
As of December 31, 2013, there was $6,000 of total unrecognized compensation costs related to unvested stock options granted under the Company’s equity plans. The cost is expected to be recognized over a weighted-average period of 0.3 years. | ||||||||||||
At December 31, 2013, 106,061 RSU’s were outstanding. Compensation expense is recognized over the performance period based on the achievement of established targets. Total expense of $1.0 million, $677,000 and $492,000 was recorded during the years ended December 31, 2013, 2012 and 2011, respectively, and approximately $540,000 and $530,000 is included within other liabilities at December 31, 2013 and 2012, respectively, related to the STIPs and LTIPs. | ||||||||||||
Restricted Stock Units | Stock Grants | |||||||||||
Weighted-Average | Weighted-Average | |||||||||||
Grant Date | Grant Date | |||||||||||
Unvested Shares | Shares | Fair Value | Shares | Fair Value | ||||||||
Unvested at January 1, 2013 | 38,871 | $ | 14.74 | 11,260 | $ | 13.28 | ||||||
Granted | 91,187 | 19.42 | 20,639 | 15.77 | ||||||||
Vested | -20,639 | 15.77 | -31,899 | 14.89 | ||||||||
Forfeited | -3,358 | 11.97 | - | - | ||||||||
Unvested at December 31, 2013 | 106,061 | $ | 18.66 | - | $ | - | ||||||
The maximum amount of compensation expense that may be earned for the 2013 STIP and the 2012 and 2013 LTIPs at December 31, 2013 is approximately $2.9 million. However, the estimated expense expected to be earned as of December 31, 2013 based on the performance measures in the plans, is $1.9 million of which $787,000 is unrecognized at December 31, 2013 and will be recognized over the remaining performance period. | ||||||||||||
As of December 31, 2013 and 2012, 202,405 and 290,234 shares, respectively, were available for grant under the Company’s stock option plans. Options forfeited or cancelled under all plans except the 2010 plan are no longer available for grant to other participants. | ||||||||||||
Parent_Company_Statements
Parent Company Statements | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' | ||||||||||
21. Parent Company Statements | |||||||||||
Condensed parent company financial statements, which include transactions with subsidiaries, follow: | |||||||||||
31-Dec | |||||||||||
Statements of Financial Condition | 2013 | 2012 | |||||||||
(In Thousands) | |||||||||||
Assets | |||||||||||
Cash and cash equivalents | $ | 8,228 | $ | 8,884 | |||||||
Available for Sale Securities | - | 1,002 | |||||||||
Investment in banking subsidiary | 285,813 | 270,444 | |||||||||
Investment in non-bank subsidiaries | 13,518 | 13,034 | |||||||||
Other assets | 1,774 | 1,766 | |||||||||
Total assets | $ | 309,333 | $ | 295,130 | |||||||
Liabilities and stockholders’ equity: | |||||||||||
Subordinated debentures | $ | 36,083 | $ | 36,083 | |||||||
Accrued liabilities | 1,103 | 919 | |||||||||
Stockholders’ equity | 272,147 | 258,128 | |||||||||
Total liabilities and stockholders’ equity | $ | 309,333 | $ | 295,130 | |||||||
Years Ended December 31 | |||||||||||
Statements of Income | 2013 | 2012 | 2011 | ||||||||
(In Thousands) | |||||||||||
Dividends from subsidiaries | $ | 4,500 | $ | 37,300 | $ | - | |||||
Interest on investments | 18 | 12 | 8 | ||||||||
Interest expense | -601 | -971 | -1,278 | ||||||||
Other income | 1 | - | 1 | ||||||||
Noninterest expense | -853 | -1,013 | -690 | ||||||||
Income (loss) before income taxes and equity in | 3,065 | 35,328 | -1,959 | ||||||||
earnings of subsidiaries | |||||||||||
Income tax credit | -415 | -669 | -665 | ||||||||
Income (loss) before equity in earnings of subsidiaries | 3,480 | 35,997 | -1,294 | ||||||||
Undistributed equity in (distributions in excess of) | 18,755 | -17,333 | 16,828 | ||||||||
earnings of subsidiaries | |||||||||||
Net income | $ | 22,235 | $ | 18,664 | $ | 15,534 | |||||
Comprehensive income | $ | 18,506 | $ | 18,941 | $ | 19,873 | |||||
Years Ended December 31 | |||||||||||
Statements of Cash Flows | 2013 | 2012 | 2011 | ||||||||
(In Thousands) | |||||||||||
Operating activities: | |||||||||||
Net income | $ | 22,235 | $ | 18,664 | $ | 15,534 | |||||
Adjustments to reconcile net income to | |||||||||||
net cash (used in) provided by | |||||||||||
operating activities: | |||||||||||
Distribution in excess of (undistributed | -18,755 | 17,333 | -16,828 | ||||||||
equity in) earnings of subsidiaries | |||||||||||
Change in other assets and liabilities | 176 | 97 | 109 | ||||||||
Net cash provided by (used in) operating activities | 3,656 | 36,094 | -1,185 | ||||||||
Investing activities: | |||||||||||
Investment in non-bank subsidiary | - | -250 | -4,785 | ||||||||
Purchase of available-for-sale securities | - | - | -2,000 | ||||||||
Sale of available-for-sale securities | 1,002 | 1,000 | - | ||||||||
Net cash (used in) provided by investing activities | 1,002 | 750 | -6,785 | ||||||||
Financing activities: | |||||||||||
Repurchase of common stock | -1,821 | - | - | ||||||||
Cash dividends paid | -3,907 | -3,086 | -2,331 | ||||||||
Stock Options Exercised | 350 | 4 | 11 | ||||||||
Treasury stock sales | 64 | 14 | 29 | ||||||||
Proceeds from issuance of common stock | - | - | 19,859 | ||||||||
Preferred Stock payoff | - | -36,358 | - | ||||||||
Net cash used in financing activities | -5,314 | -39,426 | 17,568 | ||||||||
Net increase (decrease) in cash and cash equivalents | -656 | -2,582 | 9,598 | ||||||||
Cash and cash equivalents at beginning of year | 8,884 | 11,466 | 1,868 | ||||||||
Cash and cash equivalents at end of year | $ | 8,228 | $ | 8,884 | $ | 11,466 | |||||
Fair_Value
Fair Value | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, Measurement Inputs, Disclosure [Text Block] | ' | ||||||||||||||||
22. Fair Value | |||||||||||||||||
FASB ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. | |||||||||||||||||
FASB ASC Topic 820 requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on the best information available. In that regard, FASB ASC Topic 820 established a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: | |||||||||||||||||
· | Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. | ||||||||||||||||
· | Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by a correlation or other means. | ||||||||||||||||
· | Level 3: Unobservable inputs for determining fair value of assets and liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. | ||||||||||||||||
A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. | |||||||||||||||||
Available for sale securities - Securities classified as available for sale are generally reported at fair value utilizing Level 2 inputs where the Company obtains fair value measurements from an independent pricing service that uses matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows and the bonds’ terms and conditions, among other things. Securities in Level 1 include federal agency preferred stock securities. Securities in Level 2 include U.S. Government agencies, mortgage-backed securities, corporate bonds and municipal securities. The Company classifies its pooled trust preferred collateralized debt obligations as Level 1 and Level 3. The portfolio consists of collateralized debt obligations backed by pools of trust preferred securities issued by financial institutions and insurance companies. Two collateralized debt obligations backed by insurance companies were classified as Level 1 at December 31, 2013 due to receiving a Level 1 price at which the securities were subsequently sold on January 15, 2014 as a result of these securities being disallowed under the final interim Volcker rule that was announced January 14, 2014. The two collateralized debt obligations backed by financial institutions are allowed under the final interim Volcker Rule and classified as Level 3 based on the lack of observable market data, the Company estimated fair values based on the observable data available and reasonable unobservable market data. The Company estimated fair value based on a discounted cash flow model, which used appropriately adjusted discount rates reflecting credit and liquidity risks. The Company used an independent third party, which is described further in Note 7. | |||||||||||||||||
Impaired loans - Fair values for impaired collateral dependent loans are generally based on appraisals obtained from licensed real estate appraisers and in certain circumstances consideration of offers obtained to purchase properties prior to foreclosure. Appraisals for commercial real estate generally use three methods to derive value: cost, sales or market comparison and income approach. The cost method bases value on the cost to replace the current property. Value of market comparison approach evaluates the sales price of similar properties in the same market area. The income approach considers net operating income generated by the property and an investors required return. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Comparable sales adjustments are based on known sales prices of similar type and similar use properties and duration of time that the property has been on the market to sell. Such adjustments made in the appraisal process are typically significant and result in a Level 3 classification of the inputs for determining fair value. | |||||||||||||||||
Real Estate held for sale - Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are then reviewed monthly by members of the asset review committee for valuation changes and are accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals which may utilize a single valuation approach or a combination of approaches including cost, comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments may be significant and typically result in a Level 3 classification of the inputs for determining fair value. | |||||||||||||||||
Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the Company’s asset quality or collections department reviews the assumptions and approaches utilized in the appraisal. Appraisal values are discounted from 0% to 20% to account for other factors that may impact the value of collateral. In determining the value of impaired collateral dependent loans and other real estate owned, significant unobservable inputs may be used, which include: physical condition of comparable properties sold, net operating income generated by the property and investor rates of return. | |||||||||||||||||
Mortgage servicing rights – On a quarterly basis, mortgage servicing rights are evaluated for impairment based upon the fair value of the rights as compared to the carrying amount. If the carrying amount of an individual tranche exceeds fair value, impairment is recorded on that tranche so that the servicing asset is carried at fair value. Fair value is determined at a tranche level based on a model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and are validated against available market data (Level 2). | |||||||||||||||||
Mortgage banking derivative - The fair value of mortgage banking derivatives are evaluated monthly based on derivative valuation models using quoted prices for similar assets adjusted for specific attributes of the commitments and other observable market data at the valuation date (Level 2). | |||||||||||||||||
The following table summarizes the financial assets measured at fair value on a recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: | |||||||||||||||||
Assets and Liabilities Measured on a Recurring Basis | |||||||||||||||||
31-Dec-13 | Level 1 | Level 2 | Level 3 | Total Fair | |||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||
(In Thousands) | |||||||||||||||||
Available for sale securities: | |||||||||||||||||
Obligations of U.S. Government | $ | - | $ | 4,921 | $ | - | $ | 4,921 | |||||||||
corporations and agencies | |||||||||||||||||
Mortgage-backed - residential | - | 41,292 | - | 41,292 | |||||||||||||
Collateralized mortgage obligations | - | 59,841 | - | 59,841 | |||||||||||||
Trust preferred stock | 1,654 | - | 582 | 2,236 | |||||||||||||
Preferred stock | 718 | - | - | 718 | |||||||||||||
Corporate bonds | - | 8,942 | - | 8,942 | |||||||||||||
Obligations of state and political | - | 80,220 | 80,220 | ||||||||||||||
subdivisions | |||||||||||||||||
Mortgage banking derivative - asset | - | 295 | - | 295 | |||||||||||||
Mortgage banking derivative - liability | - | - | - | - | |||||||||||||
31-Dec-12 | Level 1 | Level 2 | Level 3 | Total Fair | |||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||
(In Thousands) | |||||||||||||||||
Available for sale securities: | |||||||||||||||||
Obligations of U.S. Government | $ | - | $ | 11,069 | $ | - | $ | 11,069 | |||||||||
corporations and agencies | |||||||||||||||||
U.S. treasury bonds | - | 1,002 | - | 1,002 | |||||||||||||
Mortgage-backed - residential | - | 31,461 | - | 31,461 | |||||||||||||
Collateralized mortgage obligations | - | 57,466 | - | 57,466 | |||||||||||||
Trust preferred stock | - | - | 1,474 | 1,474 | |||||||||||||
Preferred stock | 134 | - | - | 134 | |||||||||||||
Corporate bonds | - | 8,884 | - | 8,884 | |||||||||||||
Obligations of state and political subdivisions | - | 82,611 | - | 82,611 | |||||||||||||
Mortgage banking derivative - asset | - | 950 | - | 950 | |||||||||||||
Mortgage banking derivative - liability | - | -94 | - | -94 | |||||||||||||
Trust preferred stock in the amount of $1,654,000 was transferred from level 3 to level 1 in 2013 due to two securities being disallowed under the final interim Volcker Rule resulting in the company selling these two securities on January 15, 2014 after obtaining a Level 1 price. The selling price (Level 1) was used to determine the fair value at December 31, 2013. There were no transfers between Levels during the period ended December 31, 2012. | |||||||||||||||||
The table below presents a reconciliation and income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2013 and 2012: | |||||||||||||||||
Fair Value Measurements Using Significant | |||||||||||||||||
Unobservable Inputs (Level 3) | |||||||||||||||||
(In Thousands) | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Beginning balance | $ | 1,474 | $ | 1,342 | |||||||||||||
Total gains or losses (realized/unrealized) | |||||||||||||||||
Included in earnings (realized) | -337 | 76 | |||||||||||||||
Included in other comprehensive income | 1,099 | 322 | |||||||||||||||
(presented gross of taxes) | |||||||||||||||||
Amortization | - | - | |||||||||||||||
Redemption | - | -266 | |||||||||||||||
Transfers in and/or out of Level 3 | -1,654 | - | |||||||||||||||
Ending balance | $ | 582 | $ | 1,474 | |||||||||||||
Changes in Unrealized Gains/Losses Recorded in Earnings | |||||||||||||||||
For the Year Relating to Level 3 Assets Still Held at Reporting | |||||||||||||||||
Date for the Year Ended December 31 | |||||||||||||||||
(In Thousands) | |||||||||||||||||
Trust Preferred Stock | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Interest income on securities | $ | 83 | $ | 160 | $ | 71 | |||||||||||
Other changes in fair value | -420 | -84 | -73 | ||||||||||||||
Total | $ | -337 | $ | 76 | $ | -2 | |||||||||||
The following table summarizes the financial assets measured at fair value on a non-recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: | |||||||||||||||||
Assets and Liabilities Measured on a Non-Recurring Basis | |||||||||||||||||
December 31, 2013 | Level 1 Inputs | Level 2 Inputs | Level 3 Inputs | Total Fair | |||||||||||||
Value | |||||||||||||||||
(In Thousands) | |||||||||||||||||
Impaired loans | |||||||||||||||||
1-4 Family Residential Real Estate | $ | - | $ | - | $ | 259 | $ | 259 | |||||||||
Multi Family Residential | - | - | 338 | 338 | |||||||||||||
Commercial Real Estate | - | - | 9,590 | 9,590 | |||||||||||||
Home Equity and Improvement | - | - | 531 | 531 | |||||||||||||
Total impaired loans | - | - | 10,718 | 10,718 | |||||||||||||
Mortgage servicing rights | - | 1,370 | - | 1,370 | |||||||||||||
Real estate held for sale | |||||||||||||||||
Residential | - | - | 112 | 112 | |||||||||||||
CRE | - | - | 1,278 | 1,278 | |||||||||||||
Total Real Estate held for sale | - | - | 1,390 | 1,390 | |||||||||||||
December 31, 2012 | Level 1 Inputs | Level 2 Inputs | Level 3 Inputs | Total Fair | |||||||||||||
Value | |||||||||||||||||
(In Thousands) | |||||||||||||||||
Impaired loans | |||||||||||||||||
1-4 FamilyResidential Real Estate | $ | - | $ | - | $ | 599 | $ | 599 | |||||||||
Multi Family Residential | - | - | 407 | 407 | |||||||||||||
Commercial Real Estate | - | - | 12,126 | 12,126 | |||||||||||||
Commercial | - | - | 771 | 771 | |||||||||||||
Home Equity and Improvement | - | - | 168 | 168 | |||||||||||||
Total Impaired loans | - | - | 14,071 | 14,071 | |||||||||||||
Mortgage servicing rights | - | 7,833 | - | 7,833 | |||||||||||||
Real estate held for sale | |||||||||||||||||
Residential | - | - | 61 | 61 | |||||||||||||
CRE | - | - | 385 | 385 | |||||||||||||
Total Real Estate held for sale | - | - | 446 | 446 | |||||||||||||
For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2013, the significant unobservable inputs used in the fair value measurements were as follows: | |||||||||||||||||
Fair | Valuation Technique | Unobservable Inputs | Range of | Weighted | |||||||||||||
Value | Inputs | Average | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Trust preferred stock | $ | 582 | Discounted cash flow | Constant prepayment rate | Feb-40 | % | 40 | % | |||||||||
Expected asset default | 0-30 | % | 15 | % | |||||||||||||
Expected recoveries | 15-Oct | % | 10 | % | |||||||||||||
Impaired Loans- Applies to all loan classes | $ | 10,718 | Appraisals which utilize sales comparison, net income and cost approach | Discounts for collection issues and changes in market conditions | 0-10 | % | 10 | % | |||||||||
Real estate held for sale – Applies to all classes | $ | 1,390 | Appraisals which utilize sales comparison, net income and cost approach | Discounts for changes in market conditions | 0-20 | % | 20 | % | |||||||||
For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2012, the significant unobservable inputs used in the fair value measurements were as follows: | |||||||||||||||||
Fair | Valuation Technique | Unobservable Inputs | Range of | Weighted | |||||||||||||
Value | Inputs | Average | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Trust preferred stock | $ | 1,474 | Discounted cash flow | Constant prepayment rate | Feb-40 | % | 40 | % | |||||||||
Expected asset default | 0-30 | % | 15 | % | |||||||||||||
Expected recoveries | 15-Oct | % | 10 | % | |||||||||||||
Impaired Loans- Applies to all loan classes | $ | 14,071 | Appraisals which utilize sales comparison, net income and cost approach | Discounts for collection issues and changes in market conditions | 0-10 | % | 10 | % | |||||||||
Real estate held for sale – Applies to all classes | $ | 446 | Appraisals which utilize sales comparison, net income and cost approach | Discounts for changes in market conditions | 0-20 | % | 20 | % | |||||||||
Impaired loans, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a fair value of $10.7 million, with no valuation allowance and a fair value of $14.1 million with no valuation allowance at December 31, 2013 and 2012. A provision expense of $3.2 million and $6.3 million for the years ended December 31, 2013 and 2012 related to these impaired loans was included in earnings. | |||||||||||||||||
Mortgage servicing rights, which are carried at the lower of cost or fair value, had a fair value of $1.4 million with a valuation allowance of $1.0 million and a fair value of $7.8 million with a valuation allowance of $2.3 million at December 31, 2013 and 2012, respectively. A recovery of $1.3 million and a charge of $759,000 for the years ended December 31, 2013 and 2012 was included in earnings. | |||||||||||||||||
Real estate held for sale is determined using Level 3 inputs which include appraisals and are adjusted for changes in market conditions. The change in fair value of real estate held for sale was $740,000 and $416,000 for the years ended December 31, 2013 and 2012 which was recorded directly as an adjustment to current earnings through non-interest expense. | |||||||||||||||||
In accordance with FASB ASC Topic 825, the Fair Value Measurements tables are a comparative condensed consolidated statement of financial condition based on carrying amount and estimated fair values of financial instruments as of December 31, 2013 and December 31, 2012. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of First Defiance. | |||||||||||||||||
Much of the information used to arrive at “fair value” is highly subjective and judgmental in nature and therefore the results may not be precise. Subjective factors include, among other things, estimated cash flows, risk characteristics and interest rates, all of which are subject to change. With the exception of investment securities, the Company’s financial instruments are not readily marketable and market prices do not exist. Since negotiated prices for the instruments, which are not readily marketable, depend greatly on the motivation of the buyer and seller, the amounts that will actually be realized or paid per settlement or maturity of these instruments could be significantly different. | |||||||||||||||||
The carrying amount of cash and cash equivalents, term notes payable and advance payments by borrowers for taxes and insurance, as a result of their short-term nature, is considered to be equal to fair value and are classified as Level 1. | |||||||||||||||||
It was not practicable to determine the fair value of Federal Home Loan Bank (“FHLB”) stock due to restrictions placed on its transferability. | |||||||||||||||||
The fair value of loans that reprice within 90 days is equal to their carrying amount. For other loans, the estimated fair value is calculated based on discounted cash flow analysis, using interest rates currently being offered for loans with similar terms, resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as previously described. The allowance for loan losses is considered to be a reasonable adjustment for credit risk. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. The fair value of loans held for sale is estimated based on binding contracts and quotes from third party investors resulting in a Level 2 classification. | |||||||||||||||||
The fair value of accrued interest receivable is equal to the carrying amounts resulting in a Level 2 or Level 3 classification, which is consistent with its underlying value. | |||||||||||||||||
The fair value of non-interest bearing deposits are considered equal to the amount payable on demand at the reporting date (i.e., carrying value) and are classified as Level 1. The fair value of savings, NOW and certain money market accounts are equal to their carrying amounts and are a Level 2 classification. Fair values of fixed rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. | |||||||||||||||||
The fair values of securities sold under repurchase agreements are equal to their carrying amounts resulting in a Level 2 classification. The carrying value of subordinated debentures and deposits with fixed maturities is estimated based on discounted cash flow analyses based on interest rates currently being offered on instruments with similar characteristics and maturities resulting in a Level 3 classification. | |||||||||||||||||
FHLB advances with maturities greater than 90 days are valued based on discounted cash flow analysis, using interest rates currently being quoted for similar characteristics and maturities resulting in a Level 2 classification. The cost or value of any call or put options is based on the estimated cost to settle the option at December 31, 2013. | |||||||||||||||||
Fair Value Measurements at December 31, 2013 | |||||||||||||||||
(In Thousands) | |||||||||||||||||
Carrying | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Value | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 179,318 | $ | 179,318 | $ | 179,318 | $ | - | $ | - | |||||||
Investment securities | 198,557 | 198,563 | 2,372 | 195,609 | 582 | ||||||||||||
Federal Home Loan Bank Stock | 19,350 | N/A | N/A | N/A | N/A | ||||||||||||
Loans, net, including loans | 1,564,618 | 1,568,929 | - | 9,140 | 1,559,789 | ||||||||||||
held for sale | |||||||||||||||||
Accrued interest receivable | 5,778 | 5,778 | 4 | 696 | 5,078 | ||||||||||||
Financial Liabilities: | |||||||||||||||||
Deposits | $ | 1,735,792 | $ | 1,738,216 | $ | 348,943 | $ | 1,389,273 | $ | - | |||||||
Advances from Federal Home | 22,520 | 22,713 | - | 22,713 | - | ||||||||||||
Loan Bank | |||||||||||||||||
Securities sold under repurchase | 51,919 | 51,919 | - | 51,919 | - | ||||||||||||
agreements | |||||||||||||||||
Subordinated debentures | 36,083 | 35,237 | - | - | 35,237 | ||||||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||||||
(In Thousands) | |||||||||||||||||
Carrying | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Value | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 136,832 | $ | 136,832 | $ | 136,832 | $ | - | $ | - | |||||||
Investment securities | 194,609 | 194,617 | 134 | 193,009 | 1,474 | ||||||||||||
Federal Home Loan Bank Stock | 20,655 | N/A | N/A | N/A | N/A | ||||||||||||
Loans, net, including loans | 1,520,610 | 1,543,438 | - | 22,577 | 1,520,861 | ||||||||||||
held for sale | |||||||||||||||||
Accrued interest receivable | 5,594 | 5,594 | - | 757 | 4,837 | ||||||||||||
Financial Liabilities: | |||||||||||||||||
Deposits | $ | 1,667,472 | $ | 1,671,713 | $ | 315,132 | $ | 1,356,581 | $ | - | |||||||
Advances from Federal Home | 12,796 | 13,466 | - | 13,466 | - | ||||||||||||
Loan Bank | |||||||||||||||||
Securities sold under repurchase | 51,702 | 51,702 | - | 51,702 | - | ||||||||||||
agreements | |||||||||||||||||
Subordinated debentures | 36,083 | 35,766 | - | - | 35,766 | ||||||||||||
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' | |||||||||||||||||||
23. Derivative Financial Instruments | ||||||||||||||||||||
Commitments to fund certain mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of mortgage loans to third party investors are considered derivatives. It is the Company’s practice to enter into forward commitments for the future delivery of residential mortgage loans when interest rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting from its commitments to fund the loans. These mortgage banking derivatives are not designated in hedge relationships. First Federal had approximately $7.5 million and $34.0 million of interest rate lock commitments at December 31, 2013 and 2012, respectively. There were $12.1 million and $53.6 million of forward commitments for the future delivery of residential mortgage loans at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||
The fair value of these mortgage banking derivatives are reflected by a derivative asset or a derivative liability. The table below provides data about the carrying values of these derivative instruments: | ||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
Assets | (Liabilities) | Assets | (Liabilities) | |||||||||||||||||
Derivative | Derivative | |||||||||||||||||||
Carrying | Carrying | Net Carrying | Carrying | Carrying | Net Carrying | |||||||||||||||
Value | Value | Value | Value | Value | Value | |||||||||||||||
(In Thousands) | ||||||||||||||||||||
Derivatives not designated as | ||||||||||||||||||||
hedging instruments | ||||||||||||||||||||
Mortgage Banking | $ | 295 | $ | - | $ | 295 | $ | 950 | $ | -94 | $ | 856 | ||||||||
Derivatives | ||||||||||||||||||||
The table below provides data about the amount of gains and losses recognized in income on derivative instruments not designated as hedging instruments: | ||||||||||||||||||||
Twelve Months Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
(In Thousands) | ||||||||||||||||||||
Derivatives not designated as hedging | ||||||||||||||||||||
instruments | ||||||||||||||||||||
Mortgage Banking Derivatives – Gain (Loss) | $ | -526 | $ | 249 | $ | 252 | ||||||||||||||
The above amounts are included in mortgage banking income with gain on sale of mortgage loans. During 2013 and 2011, management determined that a group of loans, previously classified as held for sale, were no longer sellable and were transferred back into the portfolio. As a result, a $34,000 and $90,000 loss related to a fair value adjustment on those loans was recorded in 2013 and 2011, respectively. No such adjustments were made in 2012. | ||||||||||||||||||||
Quarterly_Consolidated_Results
Quarterly Consolidated Results of Operations (Unaudited) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||
Quarterly Financial Information [Text Block] | ' | |||||||||||||
24. Quarterly Consolidated Results of Operations (Unaudited) | ||||||||||||||
The following is a summary of the quarterly consolidated results of operations: | ||||||||||||||
Three Months Ended | ||||||||||||||
March 31 | June 30 | September 30 | December 31 | |||||||||||
(In Thousands, Except Per Share Amounts) | ||||||||||||||
2013 | ||||||||||||||
Interest income | $ | 18,476 | $ | 18,732 | $ | 18,836 | $ | 18,737 | ||||||
Interest expense | 1,949 | 1,814 | 1,680 | 1,727 | ||||||||||
Net interest income | 16,527 | 16,918 | 17,156 | 17,010 | ||||||||||
Provision for loan losses | 425 | 448 | 476 | 475 | ||||||||||
Net interest income after provision for | 16,102 | 16,470 | 16,680 | 16,535 | ||||||||||
loan losses | ||||||||||||||
Gain on sale, call or write-down of securities | 53 | 44 | - | -337 | ||||||||||
Noninterest income | 8,909 | 7,804 | 7,289 | 6,808 | ||||||||||
Noninterest expense | 17,199 | 15,674 | 16,045 | 15,926 | ||||||||||
Income before income taxes | 7,865 | 8,644 | 7,924 | 7,080 | ||||||||||
Income taxes | 2,306 | 2,535 | 2,445 | 1,992 | ||||||||||
Net income | $ | 5,559 | $ | 6,109 | $ | 5,479 | $ | 5,088 | ||||||
Dividends declared on Preferred Shares | - | - | - | - | ||||||||||
Accretion on Preferred Shares | - | - | - | - | ||||||||||
Net income applicable to common shares | $ | 5,559 | $ | 6,109 | $ | 5,479 | $ | 5,088 | ||||||
Earnings per common share: | ||||||||||||||
Basic | $ | 0.57 | $ | 0.63 | $ | 0.56 | $ | 0.52 | ||||||
Diluted | $ | 0.55 | $ | 0.6 | $ | 0.54 | $ | 0.5 | ||||||
Average shares outstanding: | ||||||||||||||
Basic | 9,736 | 9,774 | 9,780 | 9,766 | ||||||||||
Diluted | 10,105 | 10,156 | 10,212 | 10,198 | ||||||||||
Three Months Ended | ||||||||||||||
March 31 | June 30 | September 30 | December 31 | |||||||||||
(In Thousands, Except Per Share Amounts) | ||||||||||||||
2012 | ||||||||||||||
Interest income | $ | 20,754 | $ | 20,519 | $ | 20,098 | $ | 19,572 | ||||||
Interest expense | 3,555 | 3,273 | 2,923 | 2,186 | ||||||||||
Net interest income | 17,199 | 17,246 | 17,175 | 17,386 | ||||||||||
Provision for loan losses | 3,503 | 4,097 | 705 | 2,619 | ||||||||||
Net interest income after provision for | 13,696 | 13,149 | 16,470 | 14,767 | ||||||||||
loan losses | ||||||||||||||
Gain on sale, call or write-down of securities | 43 | 382 | 103 | 1,606 | ||||||||||
Noninterest income | 8,376 | 7,612 | 7,677 | 8,575 | ||||||||||
Noninterest expense | 16,259 | 15,532 | 16,450 | 17,539 | ||||||||||
Income before income taxes | 5,856 | 5,611 | 7,800 | 7,409 | ||||||||||
Income taxes | 1,703 | 1,690 | 2,366 | 2,253 | ||||||||||
Net income | $ | 4,153 | $ | 3,921 | $ | 5,434 | $ | 5,156 | ||||||
Dividends declared on Preferred Shares | -462 | -435 | -3 | - | ||||||||||
Accretion on Preferred Shares | -46 | -305 | -8 | - | ||||||||||
Redemption of Preferred Shares | - | 642 | - | - | ||||||||||
Net income applicable to common shares | $ | 3,645 | $ | 3,823 | $ | 5,423 | $ | 5,156 | ||||||
Earnings per common share: | ||||||||||||||
Basic | $ | 0.37 | $ | 0.39 | $ | 0.56 | $ | 0.53 | ||||||
Diluted | $ | 0.37 | $ | 0.38 | $ | 0.54 | $ | 0.52 | ||||||
Average shares outstanding: | ||||||||||||||
Basic | 9,726 | 9,729 | 9,729 | 9,729 | ||||||||||
Diluted | 9,970 | 9,985 | 10,000 | 10,012 | ||||||||||
Preferred_Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2013 | |
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ' |
Preferred Stock [Text Block] | ' |
25. Preferred Stock | |
On December 5, 2008, as part of the Capital Purchase Program (“CPP”), the Company entered into a Letter Agreement and Securities Purchase Agreement (collectively, the “Purchase Agreement”) with the U.S. Treasury, pursuant to which the Company sold $37.0 million shares of newly authorized Fixed Rate Cumulative Perpetual Preferred Stock, par value $0.01 per share and liquidation value $1,000 per share (“Senior Preferred Shares”) and also issued warrants (the “Warrants”) to the U.S. Treasury to acquire an additional 550,595 of common shares having an exercise price of $10.08 per share. The Warrants have a term of 10 years. | |
The Senior Preferred Shares qualified as Tier 1 capital and paid cumulative dividends at a rate of 5% per annum for the first five years, and 9% per annum thereafter. The Senior Preferred Shares could be redeemed by the Company after three years. The Senior Preferred Shares were not subject to any contractual restrictions on transfer, except that the U.S. Treasury or any its transferees may affect any transfer that, as a result of such transfer, would require the Company to become subject to the periodic reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934. | |
Pursuant to the terms of the Purchase Agreement, the ability of the Company to declare or pay dividends or distributions on, or purchase, redeem or otherwise acquire for consideration, its common shares was subject to restrictions, including a restriction against increasing dividends from the last quarterly cash dividend per share of $0.26 declared on the common stock prior to October 14, 2008. The redemption, purchase or other acquisition of trust preferred securities of the Company or its affiliates also was restricted. | |
The Purchase Agreement also subjected the Company to certain of the executive compensation limitations included in the Emergency Economic Stabilization Act of 2008 (the “EESA”). As a condition to the closing of the transaction, the Company’s Senior Executive Officers (as defined in the Purchase Agreement) (the “Senior Executive Officers”), (i) voluntarily waived any claim against the U.S. Treasury or the Company for any changes to such officer’s compensation or benefits that are required to comply with the regulation issued by the U.S. Treasury under the CPP and acknowledged that the regulation may require modification of the compensation, bonus, incentive and other benefit plans, arrangements and policies and agreements as they relate to the period the U.S. Treasury owns the Senior Preferred Shares of the Company; and (ii) entered into a letter agreement with the Company amending the Benefit Plans with respect to such Senior Executive Officers as may be necessary, during the period that the U.S. Treasury owns the Senior Preferred Shares, as necessary to comply with Section 111(b) of the EESA. | |
In June 2012, the U.S. Treasury sold its preferred shares of the Company through a public offering structured as a modified Dutch auction. The Company bid on its preferred shares in the auction after receiving approval from its regulators. The clearing price per preferred share was $962.66 (compared to a par value of $1,000.00 per share) and the Company was successful in repurchasing 16,560 of the 37,000 preferred shares outstanding through the auction process. The Company also acquired an additional 19,440 preferred shares in the secondary market prior to the end of the second quarter of 2012. The remaining 1,000 outstanding preferred shares were purchased at par value on July 18, 2012. The clearing prices per preferred share purchased in the secondary market were as follows: 1,100 shares at $997.50, 2,500 shares at $1,000.00 and 16,840 shares at $998.75. | |
The net balance sheet impact was a reduction to stockholders’ equity of $36.4 million which is comprised of a decrease in preferred stock of $37.0 million and a $642,000 increase to retained earnings related to the discount on the shares repurchased, which is also included in net income applicable to common shares for purposes of calculating earnings per share. | |
Included in the 2012 operating results is $181,000 of costs incurred by the Company related to the U.S. Treasury’s offering. All these costs were incurred in the second quarter of 2012. These costs are not tax-deductible. | |
Balance_Sheet_Restructure
Balance Sheet Restructure | 12 Months Ended |
Dec. 31, 2013 | |
Restructuring and Related Activities [Abstract] | ' |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] | ' |
26. Balance Sheet Restructure | |
In October 2012, the Company executed a balance sheet restructuring strategy to enhance the Company’s current and future profitability while increasing its capital ratios and protecting the balance sheet against rising rates. The strategy required taking an after tax loss of approximately $260,000 through selling $60.0 million in securities for a gain of $1.6 million and paying off $62.0 million in FHLB advances with a prepayment penalty of $2.0 million. | |
Other_Comprehensive_Income_Los
Other Comprehensive Income (Loss) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | ' | |||||||||||||
Other Comprehensive Income Loss [Text Block] | ' | |||||||||||||
27. Other Comprehensive Income (Loss) | ||||||||||||||
The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the table below. Reclassification adjustments related to securities available for sale are included in gains on sale or call of securities and OTTI losses on investment securities in the accompanying consolidated condensed statements of income. | ||||||||||||||
Before Tax | Tax Expense | Net of Tax | ||||||||||||
Amount | (Benefit) | Amount | ||||||||||||
Twelve months ended December 31, 2013: | (In Thousands) | |||||||||||||
Securities available for sale and transferred securities: | ||||||||||||||
Change in net unrealized gain/loss during the period | $ | -6,309 | $ | -2,216 | $ | -4,093 | ||||||||
Reclassification adjustment for net (gains) losses included in net income | 240 | 92 | 148 | |||||||||||
Change in postretirement benefit obligation | 333 | 117 | 216 | |||||||||||
Total other comprehensive income (loss) | $ | -5,736 | $ | -2,007 | $ | -3,729 | ||||||||
Before Tax | Tax Expense | Net of Tax | ||||||||||||
Amount | (Benefit) | Amount | ||||||||||||
Twelve months ended December 31, 2012: | (In Thousands) | |||||||||||||
Securities available for sale and transferred securities: | ||||||||||||||
Change in net unrealized gain/loss during the period | $ | 2,360 | $ | 846 | $ | 1,514 | ||||||||
Reclassification adjustment for net (gains) losses included in net income | -2,134 | -767 | -1,367 | |||||||||||
Change in postretirement benefit obligation | 199 | 69 | 130 | |||||||||||
Total other comprehensive income (loss) | $ | 425 | $ | 148 | $ | 277 | ||||||||
Activity in accumulated other comprehensive income (loss), net of tax, was as follows: | ||||||||||||||
Accumulated | ||||||||||||||
Securities | Post- | Other | ||||||||||||
Available | retirement | Comprehensive | ||||||||||||
For Sale | Benefit | Income | ||||||||||||
(In Thousands) | ||||||||||||||
Balance January 1, 2013 | $ | 4,851 | $ | -577 | $ | 4,274 | ||||||||
Other comprehensive loss before | -4,093 | 216 | -3,877 | |||||||||||
reclassifications | ||||||||||||||
Amounts reclassified from accumulated other | 148 | - | 148 | |||||||||||
comprehensive loss | ||||||||||||||
Net other comprehensive loss during period | -3,945 | 216 | -3,729 | |||||||||||
Balance December 31, 2013 | $ | 906 | $ | -361 | $ | 545 | ||||||||
Balance January 1, 2012 | $ | 4,704 | $ | -707 | $ | 3,997 | ||||||||
Other comprehensive loss before | 1,514 | 130 | 1,644 | |||||||||||
reclassifications | ||||||||||||||
Amounts reclassified from accumulated other | -1,367 | - | -1,367 | |||||||||||
comprehensive loss | ||||||||||||||
Net other comprehensive loss during period | 147 | 130 | 277 | |||||||||||
Balance December 31, 2012 | $ | 4,851 | $ | -577 | $ | 4,274 | ||||||||
Subsequent_Event
Subsequent Event | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
28. Subsequent Event | |
On February 18, 2014, the Company announced the signing of a definitive agreement to acquire First Community Bank (FCB”). Under the merger agreement First Federal will acquire FCB in a cash transaction in which FCB will merge with and into First Federal. FCB operates four branches in the Columbus, Ohio market and at December 31, 2013, had assets of $101.4 million (unaudited), loans of $65.4 million (unaudited), deposits of $90.5 million (unaudited) and common equity of $10.6 million (unaudited). Under the terms of the merger agreement, First Federal will pay $12.9 million in cash for all outstanding shares of FCB, subject to certain adjustment factors. The transaction is expected to close by the end of the third quarter of 2014. | |
Statement_of_Accounting_Polici1
Statement of Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Use of Estimates, Policy [Policy Text Block] | ' | |
Use of Estimates | ||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Significant areas where First Defiance uses estimates are the valuation of certain investment securities, the determination of the allowance for loan losses, the valuation of mortgage servicing rights and goodwill, the determination of unrecognized income tax benefits, and the fair value of financial instruments. | ||
Earnings Per Share, Policy [Policy Text Block] | ' | |
Earnings Per Common Share | ||
Basic earnings per common share is computed by dividing net income applicable to common shares (net income less dividend requirements for preferred stock, accretion of preferred stock discount and redemption of preferred stock) by the weighted average number of shares of common stock outstanding during the period. All outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends are considered participating securities for the calculation. Diluted earnings per common share include the dilutive effect of additional potential common shares issuable under stock options, warrants, restricted stock awards and stock grants. Also see Note 4. | ||
Comprehensive Income, Policy [Policy Text Block] | ' | |
Comprehensive Income | ||
Comprehensive income (loss) consists of net income and other comprehensive income (loss). Other comprehensive income includes unrealized gains and losses on available-for-sale securities and the net unrecognized actuarial losses and unrecognized prior service costs associated with the Company’s Defined Benefit Postretirement Medical Plan. All items included in other comprehensive income are reported net of tax. See also Notes 5 and 16 and the Statements of Comprehensive Income. | ||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |
Cash Flows | ||
Cash and cash equivalents include amounts due from banks and overnight investments with the Federal Home Loan Bank (FHLB) and the Federal Reserve Bank (FRB). Cash and amounts due from depository institutions include required balances on hand or on deposit at the FHLB and Federal Reserve of approximately $2,295,000 and $4,200,000, respectively, at December 31, 2013 to meet regulatory reserve and clearing requirements. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions and repurchase agreements. | ||
Investment, Policy [Policy Text Block] | ' | |
Investment Securities | ||
Management determines the appropriate classification of debt securities at the time of purchase and evaluates such designation as of each balance sheet date. Debt securities are classified as held-to-maturity when First Defiance has the positive intent and ability to hold the securities to maturity and are reported at cost, adjusted for premiums and discounts that are recognized in interest income using the interest method over the period to maturity. | ||
Debt securities not classified as held-to-maturity and equity securities are classified as available-for-sale. Available-for-sale securities are stated at fair value, with the unrealized gains and losses, net of tax, reported in other comprehensive income (loss) until realized. Realized gains and losses are included in gains (losses) on securities or other-than-temporary impairment losses on securities. Realized gains and losses on securities sold are recognized on the trade date based on the specific identification method. | ||
Interest income includes amortization of purchase premiums and discounts. Premiums and discounts are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are expected. Securities with unrealized losses are reviewed quarterly to determine if value impairment is other–than-temporary. In performing this review management considers the length of time and extent that fair value has been less than cost, the financial condition of the issuer, the impact of changes in market interest rates on market value and whether the Company intends to sell or it would be more than likely required to sell the securities prior to their anticipated recovery. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement and 2) other-than-temporary impairment (OTTI) related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. | ||
Stock In Federal Home Loan Bank [Policy Text Block] | ' | |
FHLB Stock | ||
As a member of the FHLB System, First Federal is required to own stock of the FHLB of Cincinnati in an amount principally equal to 0.15% of total assets plus an amount of at least 2% but no more than 4% of its non-grandfathered mission asset activity (as defined in the FHLB’s regulations). First Federal is permitted to own stock in excess of the minimum requirement. FHLB stock is a restricted equity security that does not have a readily determinable fair value and is carried at cost. It is evaluated for impairment based upon the ultimate recovery of par value. Both cash and stock dividends are reported as income. At December 31, 2013, the Company holds $19.3 million at the FHLB of Cincinnati and $10,000 at the FHLB of Indianapolis. | ||
Policy Loans Receivable, Policy [Policy Text Block] | ' | |
Loans Receivable | ||
Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal amount outstanding, net of deferred loan fees and costs, purchase premiums and discounts and the allowance for loan losses. Deferred fees net of deferred incremental loan origination costs, are amortized to interest income generally over the contractual life of the loan using the interest method without anticipating prepayments. The recorded investment in loans includes accrued interest receivable and net deferred fees and costs and undisbursed loan amounts. | ||
Mortgage loans originated and intended for sale in the secondary market are classified as loans held for sale and are carried at the lower of aggregate cost or fair value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Mortgage loans held for sale are generally sold with servicing rights retained. The carrying value of mortgage loans sold is reduced by the amount allocated to the servicing right. Gains or losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. | ||
During 2013, 2012 and 2011, the Company realized losses totaling $597,000, $73,000 and $413,000 pertaining to loans sold to Fannie Mae and Freddie Mac but repurchased due to underwriting issues. Repurchase losses are recognized when the Company determines they are probable and estimable. $67,000 was accrued at December 31, 2013 while no amount was accrued at December 31, 2012 and 2011 for such losses. | ||
Interest receivable is accrued on loans and credited to income as earned. The accrual of interest on loans 90 days delinquent or impaired is discontinued when, in management’s opinion, the borrower may be unable to meet payments as they become due. For these loans, interest accrual is only to the extent cash payments are received. The accrual of interest on these loans is generally resumed after a pattern of repayment has been established and the collection of principal and interest is reasonably assured. | ||
Certain Loans and Debt Securities Acquired in Transfer, Recognizing Interest Income on Impaired Loans, Policy [Policy Text Block] | ' | |
Acquired Loans | ||
Valuation allowances for all acquired loans subject to FASB ASC Topic 310 reflect only those losses incurred after acquisition—that is, the present value of cash flows expected at acquisition that are not expected to be collected. | ||
The Company acquires loans individually and in groups or portfolios. At acquisition, the Company reviews each loan to determine whether there is evidence of deterioration of credit quality since origination and if it is probable that it will be unable to collect all amounts due according to the loan’s contractual terms. If both conditions exist, the Company determines whether each such loan is to be accounted for individually or whether such loans will be assembled into pools of loans based on common risk characteristics (credit score, loan type and date of origination). The Company considers expected prepayments, and estimates the amount and timing of undiscounted expected principal, interest, and other cash flows (expected at acquisition) for each loan and subsequently aggregated pool of loans. | ||
The Company determines the excess of the loan’s or pool’s scheduled contractual principal and contractual interest payments over all cash flows expected at acquisition as an amount that should not be accreted (nonaccretable difference). The remaining amount—representing the excess of the loan’s cash flows expected to be collected over the amount paid—is accreted into interest income over the remaining life of the loan or pool (accretable yield). | ||
Over the life of the loan or pool, the Company continues to estimate cash flows expected to be collected, and evaluates whether the present value of its loans determined using the effective interest rates has decreased and, if so, recognizes a loss. The present value of any subsequent increase in the loan’s or pool’s actual cash flows or cash flows expected to be collected is used first to reverse any existing valuation allowance for that loan or pool. For any remaining increases in cash flows expected to be collected, the Company adjusts the amount of accretable yield recognized on a prospective basis over the loan’s or pool’s remaining life. | ||
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | ' | |
Allowance for Loan Losses | ||
The allowance for loan losses is maintained at a level believed adequate by management to absorb probable incurred losses in the loan portfolio and is based on the size and current risk characteristics of the loan portfolio, an assessment of individual problem loans, actual loss experience, current economic events in specific industries and geographical areas and other pertinent factors, including general economic conditions. Determination of the allowance is inherently subjective as it requires significant estimates, including the amounts and timing of expected future cash flows on impaired loans, estimated losses on pools of homogeneous loans based on historical loss experience and consideration of economic trends, all of which may be susceptible to significant change. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. | ||
During 2012, First Defiance changed the process used to calculate the historical loss percentages included in the general allocation. Previously, all charge offs processed against loans were included in the period they were incurred with no consideration given to when a specific reserve was established. During 2012, the historical loss calculation included specific reserves on collaterally dependent impaired loans in the quarter in which the loss was identified and included charge-offs on loans that did not previously have specific reserves. | ||
During 2013, management elected to return to using a three year look-back period in calculating the historical loss ratio. Management is not certain that the relatively low levels of charge offs incurred in the recent quarters are sustainable given the continued low levels of economic growth in the Company’s markets warranting the need to return to a three year look-back. All quarters are given equal weighting in the calculation, which is unchanged from 2012. | ||
Loan losses are charged off against the allowance when in management’s estimation it is unlikely that the loan will be collected, while recoveries of amounts previously charged off are credited to the allowance. A provision for loan loss is charged to operations based on management’s periodic evaluation of the factors previously mentioned, as well as other pertinent factors in order to maintain the allowance for loan losses at the level deemed adequate by management. The determination of whether a loan is considered past due or delinquent is based on the contractual payment terms. Loans are considered past due when the contractual amounts due with respect to principal and interest are not received within 30 days of the contractual due date. All loans are placed on nonaccrual status at 90 days past due unless the loan is adequately secured and is in process of collection. Any loan in the portfolio may be placed on nonaccrual status prior to becoming 90 days past due when collection of principal or interest is in doubt. | ||
The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. Impaired loans have been recognized in conformity with FASB ASC Topic 310. | ||
A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loans agreement. Loans, for which terms have been modified and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired. A cash flow analysis of the net present value is performed and an allowance may be established based on the outcome of that analysis, or if the loan is deemed to be collateral dependent an allowance is established based on the fair value of collateral. All modifications are reviewed by the First Federal’s senior loan committee to determine whether or not the modification constitutes a troubled debt restructure. Commercial and commercial real estate loans are individually evaluated for impairment. If a loan is impaired, a portion of the allowance is allocated so that the loan is reported net of the allowance allocation which is determined based on the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected solely from the collateral. Large groups of smaller balance homogeneous loans, such as consumer and residential real estate loans, are collectively evaluated for impairment, and accordingly, they are not separately identified for impairment disclosures. | ||
The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the most recent three years. Loss experience is adjusted for other economic factors based on the identified risks, credit related or trends present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; levels of and trends in charge-offs and recoveries; trends in volume and terms of loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. The following portfolio segments have been identified: | ||
Commercial Real Estate Loans (consisting of multi-family residential and non-residential): Commercial real estate loans are subject to underwriting standards and processes similar to commercial and industrial loans. These loans are viewed primarily as cash flow loans and the repayment of these loans is largely dependent on the successful operation of the property. Loan performance may be adversely affected by factors impacting the general economy or conditions specific to the real estate market such as geographic location and/or property type. | ||
Commercial Loans: Commercial credit is extended primarily to middle market customers. Such credits are typically comprised of working capital loans, loans for physical asset expansion, asset acquisition loans and other business loans. Loans to closely held businesses will generally be guaranteed in full or for a meaningful amount by the businesses' principal owners. Commercial loans are made based primarily on the historical and projected cash flow of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not behave as forecasted and collateral securing loans may fluctuate in value due to economic or individual performance factors. Minimum standards and underwriting guidelines have been established for all commercial loan types. | ||
Consumer: Consumer loans are generally made to borrowers for a specific consumer purchase and are made based on their ability to repay with their current debt to income as well as the underlying collateral value of the item being purchased. Credit scores are part of the decision process of whether or not credit is extended. Minimum standards and underwriting guidelines have been established for all consumer loan types. | ||
1-4 Family Residential Real Estate: 1-4 family residential real estate loans can be categorized two different ways. One part of this portfolio is owner occupied and are made based primarily on the ability of the individual borrower to support the payments as well as the payments of any other debt the borrower may have outstanding at the time the loan is made. The other part of this portfolio is non-owner occupied income producing property and is made primarily based on the cash flow stream from rental income as well as the cash flow support from the borrower’s unrelated cash flow. Both types of loans have a secondary repayment source of the underlying collateral and generally the loans are not extended at higher than an 80% LTV. Minimum standards and underwriting guidelines have been established for all 1-4 family residential real estate loan types. | ||
Construction: The Company defines construction loans as loans where the loan proceeds are controlled by the Company and used exclusively for the improvement of real estate in which the Company holds a mortgage. | ||
Home Equity and Improvement: Home Equity and Improvement loans are made to borrowers based on their ability to repay with their current debt to income as well as the underlying collateral value of the real estate taken as security. Minimum standards and underwriting guidelines have been established for all 1-4 family residential real estate loan types. | ||
Transfers and Servicing of Financial Assets, Servicing of Financial Assets, Policy [Policy Text Block] | ' | |
Servicing Rights | ||
Servicing rights are recognized separately when they are acquired through sales of loans. Servicing rights are initially recorded at fair value with the income statement effect recorded in gains on sales of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. The Company compares the valuation model inputs and results to published industry data in order to validate the model results and assumptions. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans , driven, generally, by changes in market interest rates. | ||
Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with mortgage banking income on the income statement. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. | ||
Servicing fee income, which is reported on the income statement with mortgage banking income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal, or a fixed amount per loan, and are recorded as income when earned. The amortization of mortgage servicing rights is netted against loan servicing fee income. Servicing fees totaled $3.6 million, $3.4 million and $3.4 million for the years ended December 31, 2013, 2012 and 2011. Late fees and ancillary fees related to loan servicing are not material. See Note 8. | ||
Bank Owned Life Insurance [Policy Text Block] | ' | |
Bank Owned Life Insurance | ||
The Company has purchased life insurance policies on certain key employees. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. | ||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |
Premises and Equipment and Long Lived Assets | ||
Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation and amortization computed principally by the straight-line method over the following estimated useful lives: | ||
Buildings and improvements | 20 to 50 years | |
Furniture, fixtures and equipment | 3 to 15 years | |
Long-lived assets to be held and those to be disposed of and certain intangibles are periodically evaluated for impairment. See Note 9. | ||
Goodwill and Intangible Assets, Policy [Policy Text Block] | ' | |
Goodwill and Other Intangibles | ||
Goodwill resulting from business combinations prior to January 1, 2009 represents the excess of the purchase price over the fair value of the net assets of businesses acquired. Goodwill resulting from business combinations after January 1, 2009, is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually. The Company has selected November 30 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on First Defiance’s balance sheet. | ||
Other intangible assets consist of core deposit and acquired customer relationship intangible assets arising from whole bank, insurance and branch acquisitions. They are initially recorded at fair value and then amortized on an accelerated basis over their estimated lives, which range from five years for non-compete agreements to 10 to 20 years for core deposit and customer relationship intangibles. See Note 10. | ||
Real Estate Held for Development and Sale, Policy [Policy Text Block] | ' | |
Real Estate and Other Assets Held for Sale | ||
Other assets held for sale are comprised of properties acquired through foreclosure proceedings or acceptance of a deed in lieu of foreclosure. These assets are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. Losses arising from the acquisition of such property are charged against the allowance for loan losses at the time of acquisition. These properties are carried at the lower of cost or fair value, less estimated costs to dispose. If fair value declines subsequent to foreclosure, the property is written down against expense. Costs after acquisition are expensed. | ||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | |
Stock Compensation Plans | ||
Compensation cost is recognized for stock options and restricted share awards issued to employees and directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options. Restricted stock awards are valued at the market value of Company stock at the date of the grant. 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. See Note 20. | ||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | |
Fair Value of Financial Instruments | ||
Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 22. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. | ||
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Sales, Policy [Policy Text Block] | ' | |
Transfers of Financial Assets | ||
Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | ||
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | ' | |
Mortgage Banking Derivatives | ||
Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market and forward commitments for the future delivery of these mortgage loans are accounted for as free standing derivatives. Fair values of these mortgage derivatives are estimated based on changes in mortgage interest rates from the date the interest on the loan is locked. The Company enters into forward commitments for the future delivery of mortgage loans when interest rate locks are entered into, in order to hedge the change in interest rates resulting from its commitments to fund the loans. Changes in fair values of these derivatives are included in mortgage banking income. | ||
Segment Reporting, Policy [Policy Text Block] | ' | |
Operating Segments | ||
Management considers the following factors in determining the need to disclose separate operating segments: 1) The nature of products and services, which are all financial in nature; 2) The type and class of customer for the products and services; in First Defiance’s case retail customers for retail bank and insurance products and commercial customers for commercial loan, deposit, life, health and property and casualty insurance needs; 3) The methods used to distribute products or provide services; such services are delivered through banking and insurance offices and through bank and insurance customer contact representatives. Retail and commercial customers are frequently targets for both banking and insurance products; 4) The nature of the regulatory environment; both banking and insurance entities are subject to various regulatory bodies and a number of specific regulations. | ||
Quantitative thresholds as stated in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting are monitored. For the year ended December 31, 2013, the reported revenue for First Insurance was 9.1% of total revenue for First Defiance. Total revenue includes net interest income (before provision for loan losses) plus non-interest income. Net income for First Insurance for the year ended December 31, 2013 was 4.4% of consolidated net income. Total assets of First Insurance at December 31, 2013 were 0.7% of total assets. First Insurance does not meet any of the quantitative thresholds of FASB ASC Topic 280. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable segment. | ||
Dividend Restriction [Policy Text Block] | ' | |
Dividend Restriction | ||
Banking regulations require maintaining certain capital levels and may limit the dividends paid by the savings bank to the holding company. See Note 17 for further details on restrictions. | ||
Loan Commitments, Policy [Policy Text Block] | ' | |
Loan Commitments and Related Financial Instruments | ||
Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. | ||
Malpractice Loss Contingency, Policy [Policy Text Block] | ' | |
Loss Contingencies | ||
Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are any such matters that will have a material effect on the financial statements. | ||
Income Tax, Policy [Policy Text Block] | ' | |
Income Taxes | ||
Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. | ||
An effective tax rate of 35% is used to determine after-tax components of other comprehensive income (loss) included in the statements of stockholders’ equity. See Note 18. | ||
A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. | ||
The Company recognizes interest and/or penalties related to income tax matters in income tax expense. | ||
Pension and Other Postretirement Plans, Pensions, Policy [Policy Text Block] | ' | |
Retirement Plans | ||
Pension expense is the net of service and interest cost, return on plan assets and amortization of gains and losses not immediately recognized. Employee 401(k) plan expense is the amount of matching contributions. Deferred compensation and supplemental retirement plan expense allocates the benefits over years of service. | ||
Reclassification, Policy [Policy Text Block] | ' | |
Reclassifications | ||
Some items in the prior year financial statements were reclassified to conform to the current presentation. | ||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | |
Accounting Standards Updates | ||
In February 2013, the FASB issued ASU 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” This update requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, entities are required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The Company adopted this standard on January 1, 2013. The effect of adopting this standard increased the Company’s disclosure surrounding reclassification items out of accumulated other comprehensive income. | ||
In January 2014, the FASB issued ASU 2014-04, “Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure.” The objective of the amendments in ASU 2014-04 to Topic 310, “Receivables - Troubled Debt Restructurings by Creditors,” is to reduce diversity by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The amendments are effective for fiscal years, and interim periods within those years, beginning after December 31, 2014. An entity can elect to adopt the amendments using either a modified retrospective transition method or a prospective transition method. Early adoption is permitted. The adoption of this guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements. | ||
Statement_of_Accounting_Polici2
Statement of Accounting Policies (Tables) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Property, Plant and Equipment, Schedule of Significant Acquisitions and Disposals [Table Text Block] | ' | |
Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation and amortization computed principally by the straight-line method over the following estimated useful lives: | ||
Buildings and improvements | 20 to 50 years | |
Furniture, fixtures and equipment | 3 to 15 years | |
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||
The following table sets forth the computation of basic and diluted earnings per common share: | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In Thousands, Except Per Share Amounts) | |||||||||||
Numerator for basic and diluted earnings per | $ | 22,235 | $ | 18,047 | $ | 13,506 | |||||
common share-net income applicable to common | |||||||||||
shares | |||||||||||
Denominator: | |||||||||||
Denominator for basic earnings per common | 9,764 | 9,728 | 9,371 | ||||||||
share-weighted-average common shares, including | |||||||||||
participating securities | |||||||||||
Effect of dilutive securities: | |||||||||||
Employee stock options | 87 | 51 | 15 | ||||||||
Warrants | 320 | 219 | 154 | ||||||||
Dilutive potential common shares | 407 | 270 | 169 | ||||||||
Denominator for diluted earnings per common share | 10,171 | 9,998 | 9,540 | ||||||||
Basic earnings per common share | $ | 2.28 | $ | 1.86 | $ | 1.44 | |||||
Diluted earnings per common share | $ | 2.19 | $ | 1.81 | $ | 1.42 | |||||
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Marketable Securities [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Available-for-sale and Held to Maturity Securities [Table Text Block] | ' | |||||||||||||||||||||||||||
The following tables summarize the amortized cost and fair value of available-for-sale securities and held-to-maturity investment securities portfolio at December 31, 2013 and 2012 and the corresponding amounts of gross unrealized gains and losses were as follows: | ||||||||||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||
Available-for-sale | ||||||||||||||||||||||||||||
Obligations of U.S. government corporations and | $ | 5,000 | $ | - | $ | -79 | $ | 4,921 | ||||||||||||||||||||
agencies | ||||||||||||||||||||||||||||
Mortgage-backed securities - residential | 41,368 | 765 | -841 | 41,292 | ||||||||||||||||||||||||
Collateralized mortgage obligations | 59,865 | 739 | -763 | 59,841 | ||||||||||||||||||||||||
Trust preferred stock and preferred stock | 3,264 | 683 | -993 | 2,954 | ||||||||||||||||||||||||
Corporate bonds | 8,854 | 129 | -41 | 8,942 | ||||||||||||||||||||||||
Obligations of state and political subdivisions | 78,426 | 2,704 | -910 | 80,220 | ||||||||||||||||||||||||
Total Available-for-Sale | $ | 196,777 | $ | 5,020 | $ | -3,627 | $ | 198,170 | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||||||
Amortized | Unrecognized | Unrecognized | Fair | |||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
Held-to-Maturity | ||||||||||||||||||||||||||||
FHLMC certificates | $ | 31 | $ | - | $ | - | $ | 31 | ||||||||||||||||||||
FNMA certificates | 120 | 4 | - | 124 | ||||||||||||||||||||||||
GNMA certificates | 50 | 2 | - | 52 | ||||||||||||||||||||||||
Obligations of states and political | 186 | - | - | 186 | ||||||||||||||||||||||||
subdivisions | ||||||||||||||||||||||||||||
Total Held-to-Maturity | $ | 387 | $ | 6 | $ | - | $ | 393 | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||
Available-for-sale | ||||||||||||||||||||||||||||
Obligations of U.S. government corporations and | $ | 11,000 | $ | 69 | $ | - | $ | 11,069 | ||||||||||||||||||||
agencies | ||||||||||||||||||||||||||||
U.S. treasury bonds | 1,000 | 2 | - | 1,002 | ||||||||||||||||||||||||
Mortgage-backed securities - residential | 30,020 | 1,441 | - | 31,461 | ||||||||||||||||||||||||
Collateralized mortgage obligations | 55,962 | 1,504 | - | 57,466 | ||||||||||||||||||||||||
Trust preferred stock and preferred stock | 3,600 | 99 | -2,091 | 1,608 | ||||||||||||||||||||||||
Corporate bonds | 8,717 | 167 | - | 8,884 | ||||||||||||||||||||||||
Obligations of state and political subdivisions | 76,339 | 6,277 | -5 | 82,611 | ||||||||||||||||||||||||
Total Available-for-Sale | $ | 186,638 | $ | 9,559 | $ | -2,096 | $ | 194,101 | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||||||
Amortized | Unrecognized | Unrecognized | Fair | |||||||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
Held-to-Maturity | ||||||||||||||||||||||||||||
FHLMC certificates | $ | 69 | $ | - | $ | -1 | $ | 68 | ||||||||||||||||||||
FNMA certificates | 162 | 6 | - | 168 | ||||||||||||||||||||||||
GNMA certificates | 60 | 3 | - | 63 | ||||||||||||||||||||||||
Obligations of states and political subdivisions | 217 | - | - | 217 | ||||||||||||||||||||||||
Total Held-to-Maturity | $ | 508 | $ | 9 | $ | -1 | $ | 516 | ||||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||||||||||||||
For purposes of the maturity tables below, mortgage-backed securities and collateralized mortgage obligations, which are not due at a single maturity date, have not been allocated over maturity groupings. | ||||||||||||||||||||||||||||
Available-for-Sale | ||||||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||
Available-for-sale | ||||||||||||||||||||||||||||
Due in one year or less | $ | 2,135 | $ | 2,137 | ||||||||||||||||||||||||
Due after one year through | 8,198 | 8,526 | ||||||||||||||||||||||||||
five years | ||||||||||||||||||||||||||||
Due after five years through | 38,707 | 40,016 | ||||||||||||||||||||||||||
ten years | ||||||||||||||||||||||||||||
Due after ten years | 46,504 | 46,358 | ||||||||||||||||||||||||||
MBS/CMO | 101,233 | 101,133 | ||||||||||||||||||||||||||
Total | $ | 196,777 | $ | 198,170 | ||||||||||||||||||||||||
Held-to-maturity | ||||||||||||||||||||||||||||
Due after five years through | $ | 186 | $ | 186 | ||||||||||||||||||||||||
ten years | ||||||||||||||||||||||||||||
MBS/CMO | 201 | 207 | ||||||||||||||||||||||||||
Total | $ | 387 | $ | 393 | ||||||||||||||||||||||||
Available-for-Sale | ||||||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||
Available-for-sale | ||||||||||||||||||||||||||||
Due in one year or less | $ | 1,252 | $ | 1,258 | ||||||||||||||||||||||||
Due after one year through | 15,719 | 15,996 | ||||||||||||||||||||||||||
five years | ||||||||||||||||||||||||||||
Due after five years through | 33,743 | 36,024 | ||||||||||||||||||||||||||
ten years | ||||||||||||||||||||||||||||
Due after ten years | 49,942 | 51,896 | ||||||||||||||||||||||||||
MBS/CMO | 85,982 | 88,927 | ||||||||||||||||||||||||||
$ | 186,638 | $ | 194,101 | |||||||||||||||||||||||||
Held-to-maturity | ||||||||||||||||||||||||||||
Due after five years through | $ | 217 | $ | 217 | ||||||||||||||||||||||||
ten years | ||||||||||||||||||||||||||||
MBS/CMO | 291 | 299 | ||||||||||||||||||||||||||
Total | $ | 508 | $ | 516 | ||||||||||||||||||||||||
Unrealized Gain (Loss) on Investments [Table Text Block] | ' | |||||||||||||||||||||||||||
The following table summarizes First Defiance’s securities that were in an unrealized loss position at December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||
Duration of Unrealized Loss Position | ||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||
Value | Loss | Value | Loss | Value | Loses | |||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
At December 31, 2013 | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
Obligations of U.S. government | $ | 4,921 | $ | -79 | $ | - | $ | - | $ | 4,921 | $ | -79 | ||||||||||||||||
corporations and agencies | ||||||||||||||||||||||||||||
Mortgage-backed securities | 24,846 | -841 | - | - | 24,846 | -841 | ||||||||||||||||||||||
- residential | ||||||||||||||||||||||||||||
Collateralized mortgage | 26,530 | -763 | - | - | 26,530 | -763 | ||||||||||||||||||||||
obligations | ||||||||||||||||||||||||||||
Corporate bonds | 2,959 | -41 | - | - | 2,959 | -41 | ||||||||||||||||||||||
Obligations of state and political | 19,209 | -871 | 375 | -39 | 19,584 | -910 | ||||||||||||||||||||||
subdivisions | ||||||||||||||||||||||||||||
Trust preferred stock and | - | - | 582 | -993 | 582 | -993 | ||||||||||||||||||||||
preferred stock | ||||||||||||||||||||||||||||
Total temporarily impaired | $ | 78,465 | $ | -2,595 | $ | 957 | $ | -1,032 | $ | 79,422 | $ | -3,627 | ||||||||||||||||
securities | ||||||||||||||||||||||||||||
At December 31, 2012 | ||||||||||||||||||||||||||||
Available-for-sale securities: | ||||||||||||||||||||||||||||
Mortgage-backed securities | $ | 1 | $ | - | $ | - | $ | - | $ | 1 | $ | - | ||||||||||||||||
- residential | ||||||||||||||||||||||||||||
Obligations of state and political | 949 | -5 | - | - | 949 | -5 | ||||||||||||||||||||||
subdivisions | ||||||||||||||||||||||||||||
Trust preferred stock and | - | - | 1,474 | -2,091 | 1,474 | -2,091 | ||||||||||||||||||||||
preferred stock | ||||||||||||||||||||||||||||
Total temporarily impaired | $ | 950 | $ | -5 | $ | 1,474 | $ | -2,091 | $ | 2,424 | $ | -2,096 | ||||||||||||||||
securities | ||||||||||||||||||||||||||||
Investment [Table Text Block] | ' | |||||||||||||||||||||||||||
The following table provides additional information related to the four CDO investments for which a balance remains as of December 31, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
CDO | Class | Amortized | Fair | Unrealized | OTTI | Lowest | Current | Actual | Expected | Excess Sub- | ||||||||||||||||||
Cost | Value | Loss | Losses | Rating | Number of | Deferrals | Deferrals | ordination | ||||||||||||||||||||
2013 | Banks and | and | and Defaults | as a % of | ||||||||||||||||||||||||
Insurance | Defaults | as a % of | Current | |||||||||||||||||||||||||
Companies | as a % of | Remaining | Performing | |||||||||||||||||||||||||
Current | Performing | Collateral | ||||||||||||||||||||||||||
Collateral | Collateral | |||||||||||||||||||||||||||
TPREF Funding II | B | $ | 673 | $ | 266 | $ | 407 | $ | 0 | Caa3 | 16 | 41.1 | % | 13.48 | % | - | % | |||||||||||
I-Preferred Term Sec I | B-1 | 839 | 839 | - | 161 | CCC- | 14 | 17.24 | % | 11.72 | %* | 23.61 | % | |||||||||||||||
Dekania II CDO | C-1 | 815 | 815 | - | 176 | CCC | 30 | - | % | 13.16 | %* | 26.03 | % | |||||||||||||||
Preferred Term Sec XXVII | C-1 | 902 | 316 | 586 | 0 | C | 32 | 26.18 | % | 18.29 | % | 6.39 | % | |||||||||||||||
Total | $ | 3,229 | $ | 2,236 | $ | 993 | $ | 337 | ||||||||||||||||||||
*Assumption not applicable as Level 1 pricing was utilized at December 31, 2013. | ||||||||||||||||||||||||||||
Schedule of Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | ' | |||||||||||||||||||||||||||
The table below presents a roll-forward of the credit losses relating to debt securities recognized in earnings for the years ended December 31, 2013, 2012 and 2011 (in thousands): | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
Beginning balance, January 1 | $ | 3,176 | $ | 3,251 | $ | 3,249 | ||||||||||||||||||||||
Additions for amounts related to credit loss for which an OTTI was | 337 | - | - | |||||||||||||||||||||||||
not previously recognized | ||||||||||||||||||||||||||||
Reductions for amounts realized for securities sold/redeemed during | - | -80 | - | |||||||||||||||||||||||||
the period | ||||||||||||||||||||||||||||
Reductions for amounts related to securities for which the | - | - | - | |||||||||||||||||||||||||
Company intends to sell or that it will be more likely than not that | ||||||||||||||||||||||||||||
the Company will be required to sell prior to recovery of amortized | ||||||||||||||||||||||||||||
cost basis | ||||||||||||||||||||||||||||
Reductions for increase in cash flows expected to be collected that are | - | - | - | |||||||||||||||||||||||||
Recognized over the remaining life of the security | ||||||||||||||||||||||||||||
Increases to the amount related to the credit loss for which Other-than- | - | 5 | 2 | |||||||||||||||||||||||||
temporary was previously recognized | ||||||||||||||||||||||||||||
Ending balance, December 31 | $ | 3,513 | $ | 3,176 | $ | 3,251 | ||||||||||||||||||||||
Marketable Securities [Table Text Block] | ' | |||||||||||||||||||||||||||
The proceeds from sales and calls of securities and the associated gains and losses are listed below: | ||||||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
Proceeds | $ | 4,027 | $ | 72,262 | $ | 8,719 | ||||||||||||||||||||||
Gross realized gains | 97 | 2,163 | 218 | |||||||||||||||||||||||||
Gross realized losses | - | -24 | - | |||||||||||||||||||||||||
Commitments_and_Contingent_Lia1
Commitments and Contingent Liabilities (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||
Schedule of Line of Credit Facilities [Table Text Block] | ' | ||||||||||||
The Company’s maximum obligation to extend credit for loan commitments (unfunded loans and unused lines of credit) and standby letters of credit outstanding on December 31 was as follows (in thousands): | |||||||||||||
2013 | 2012 | ||||||||||||
Fixed Rate | Variable Rate | Fixed Rate | Variable Rate | ||||||||||
Commitments to make loans | $ | 57,914 | $ | 59,632 | $ | 50,205 | $ | 48,035 | |||||
Unused lines of credit | 18,047 | 257,939 | 21,975 | 228,269 | |||||||||
Standby letters of credit | - | 17,680 | - | 18,166 | |||||||||
Total | $ | 75,962 | $ | 335,251 | $ | 72,180 | $ | 294,470 | |||||
Loans_Tables
Loans (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Loans Receivable, Net [Abstract] | ' | |||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | |||||||||||||||||||||||||
Loans receivable consist of the following: | ||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||
Real Estate: | ||||||||||||||||||||||||||
Secured by 1-4 family residential | $ | 195,752 | $ | 200,826 | ||||||||||||||||||||||
Secured by multi-family residential | 148,952 | 122,275 | ||||||||||||||||||||||||
Secured by commercial real estate | 670,666 | 675,110 | ||||||||||||||||||||||||
Construction | 86,058 | 37,788 | ||||||||||||||||||||||||
1,101,428 | 1,035,999 | |||||||||||||||||||||||||
Other Loans: | ||||||||||||||||||||||||||
Commercial | 388,236 | 383,817 | ||||||||||||||||||||||||
Home equity and improvement | 106,930 | 108,718 | ||||||||||||||||||||||||
Consumer Finance | 16,902 | 15,936 | ||||||||||||||||||||||||
512,068 | 508,471 | |||||||||||||||||||||||||
Total loans | 1,613,496 | 1,544,470 | ||||||||||||||||||||||||
Deduct: | ||||||||||||||||||||||||||
Undisbursed loan funds | -32,290 | -18,478 | ||||||||||||||||||||||||
Net deferred loan origination fees and costs | -758 | -735 | ||||||||||||||||||||||||
Allowance for loan loss | -24,950 | -26,711 | ||||||||||||||||||||||||
Totals | $ | 1,555,498 | $ | 1,498,546 | ||||||||||||||||||||||
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | ' | |||||||||||||||||||||||||
The following table discloses allowance for loan loss activity year to date as of December 31, 2013, December 31, 2012, and December 31, 2011 by portfolio segment and impairment method (in thousands): | ||||||||||||||||||||||||||
Year to Date December 31, | 1-4 Family | Multi-Family | Commercial | Construction | Commercial | Home Equity | Consumer | Total | ||||||||||||||||||
2013 | Residential | Residential | Real Estate | and | Finance | |||||||||||||||||||||
Real Estate | Real Estate | Improvement | ||||||||||||||||||||||||
Beginning Allowance | $ | 3,506 | $ | 2,197 | $ | 12,702 | $ | 75 | $ | 6,325 | $ | 1,759 | $ | 147 | $ | 26,711 | ||||||||||
Charge-Offs | -643 | -6 | -2,469 | - | -1,230 | -757 | -94 | -5,199 | ||||||||||||||||||
Recoveries | 282 | - | 837 | - | 290 | 125 | 80 | 1,614 | ||||||||||||||||||
Provisions | -298 | 317 | 930 | 59 | 293 | 508 | 15 | 1,824 | ||||||||||||||||||
Ending Allowance | $ | 2,847 | $ | 2,508 | $ | 12,000 | $ | 134 | $ | 5,678 | $ | 1,635 | $ | 148 | $ | 24,950 | ||||||||||
Year to Date December 31, | 1-4 Family | Multi-Family | Commercial | Construction | Commercial | Home Equity | Consumer | Total | ||||||||||||||||||
2012 | Residential | Residential | Real Estate | and | Finance | |||||||||||||||||||||
Real Estate | Real Estate | Improvement | ||||||||||||||||||||||||
Beginning Allowance | $ | 4,095 | $ | 2,850 | $ | 17,640 | $ | 63 | $ | 6,576 | $ | 1,856 | $ | 174 | $ | 33,254 | ||||||||||
Charge-Offs | -2,515 | -555 | -10,764 | - | -4,047 | -1,165 | -133 | -19,179 | ||||||||||||||||||
Recoveries | 177 | 122 | 895 | - | 359 | 95 | 64 | 1,712 | ||||||||||||||||||
Provisions | 1,749 | -220 | 4,931 | 12 | 3,437 | 973 | 42 | 10,924 | ||||||||||||||||||
Ending Allowance | $ | 3,506 | $ | 2,197 | $ | 12,702 | $ | 75 | $ | 6,325 | $ | 1,759 | $ | 147 | $ | 26,711 | ||||||||||
Year-to-Date December 31, | 1-4 Family | Multi-Family | Commercial | Construction | Commercial | Home Equity | Consumer | Total | ||||||||||||||||||
2011 | Residential | Residential | Real Estate | and | Finance | |||||||||||||||||||||
Real Estate | Real Estate | Improvement | ||||||||||||||||||||||||
Beginning Allowance | $ | 5,956 | $ | 2,147 | $ | 20,208 | $ | 73 | $ | 10,871 | $ | 1,528 | $ | 297 | $ | 41,080 | ||||||||||
Charge-Offs | -2,753 | -792 | -12,358 | - | -4,398 | -1,052 | -95 | -21,448 | ||||||||||||||||||
Recoveries | 127 | - | 533 | - | 393 | 65 | 70 | 1,188 | ||||||||||||||||||
Provisions | 765 | 1,495 | 9,257 | -10 | -290 | 1,315 | -98 | 12,434 | ||||||||||||||||||
Ending Allowance | $ | 4,095 | $ | 2,850 | $ | 17,640 | $ | 63 | $ | 6,576 | $ | 1,856 | $ | 174 | $ | 33,254 | ||||||||||
Schedule of Allowance for Loan Losses and Recorded Investment in Portfolio Segment Based on Impairment [Table Text Block] | ' | |||||||||||||||||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2013: | ||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||
1-4 Family | Multi Family | |||||||||||||||||||||||||
Residential | Residential | Commercial | Home Equity | Consumer | ||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Commercial | Construction | & Improvement | Finance | Total | |||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 220 | $ | - | $ | 1,121 | $ | - | $ | 6 | $ | 45 | $ | - | $ | 1,392 | ||||||||||
Collectively evaluated for impairment | 2,627 | 2,508 | 10,879 | 134 | 5,672 | 1,590 | 148 | 23,558 | ||||||||||||||||||
Acquired with deteriorated credit quality | - | - | - | - | - | - | - | - | ||||||||||||||||||
Total ending allowance balance | $ | 2,847 | $ | 2,508 | $ | 12,000 | $ | 134 | $ | 5,678 | $ | 1,635 | $ | 148 | $ | 24,950 | ||||||||||
Loans: | ||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 10,245 | $ | 840 | $ | 34,874 | $ | 263 | $ | 8,737 | $ | 2,429 | $ | 53 | $ | 57,441 | ||||||||||
Loans collectively evaluated for impairment | 185,923 | 148,294 | 637,657 | 53,467 | 380,711 | 104,958 | 16,838 | 1,527,848 | ||||||||||||||||||
Loans acquired with deteriorated credit quality | 29 | - | 174 | - | 27 | - | - | 230 | ||||||||||||||||||
Total ending loans balance | $ | 196,197 | $ | 149,134 | $ | 672,705 | $ | 53,730 | $ | 389,475 | $ | 107,387 | $ | 16,891 | $ | 1,585,519 | ||||||||||
The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2012: | ||||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||
1-4 Family | Multi Family | |||||||||||||||||||||||||
Residential | Residential | Commercial | Home Equity | Consumer | ||||||||||||||||||||||
Real Estate | Real Estate | Real Estate | Commercial | Construction | & Improvement | Finance | Total | |||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||
Ending allowance balance attributable to loans: | ||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 281 | $ | - | $ | 1,070 | $ | - | $ | 138 | $ | 2 | $ | - | $ | 1,491 | ||||||||||
Collectively evaluated for impairment | 3,225 | 2,197 | 11,632 | 75 | 6,187 | 1,757 | 147 | 25,220 | ||||||||||||||||||
Acquired with deteriorated credit quality | - | - | - | - | - | - | - | - | ||||||||||||||||||
Total ending allowance balance | $ | 3,506 | $ | 2,197 | $ | 12,702 | $ | 75 | $ | 6,325 | $ | 1,759 | $ | 147 | $ | 26,711 | ||||||||||
Loans: | ||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 11,930 | $ | 1,626 | $ | 46,053 | $ | 45 | $ | 8,830 | $ | 2,678 | $ | 124 | $ | 71,286 | ||||||||||
Loans collectively evaluated for impairment | 189,348 | 120,829 | 630,534 | 19,251 | 376,007 | 106,516 | 15,815 | 1,458,300 | ||||||||||||||||||
Loans acquired with deteriorated credit quality | 36 | - | 436 | - | 32 | - | - | 504 | ||||||||||||||||||
Total ending loans balance | $ | 201,314 | $ | 122,455 | $ | 677,023 | $ | 19,296 | $ | 384,869 | $ | 109,194 | $ | 15,939 | $ | 1,530,090 | ||||||||||
Loans Receivable, Impaired, Interest Income, Cash Basis Method [Table Text Block] | ' | |||||||||||||||||||||||||
The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans. (In Thousands) | ||||||||||||||||||||||||||
Twelve Months Ended December 31, | ||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||
Average | Interest | Cash Basis | ||||||||||||||||||||||||
Balance | Income | Income | ||||||||||||||||||||||||
Recognized | Recognized | |||||||||||||||||||||||||
Residential Owner Occupied | $ | 6,529 | $ | 345 | $ | 343 | ||||||||||||||||||||
Residential Non Owner Occupied | 4,453 | 162 | 163 | |||||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 10,982 | 507 | 506 | |||||||||||||||||||||||
Multi-Family Residential Real Estate | 1,176 | 27 | 28 | |||||||||||||||||||||||
CRE Owner Occupied | 14,313 | 376 | 386 | |||||||||||||||||||||||
CRE Non Owner Occupied | 22,339 | 901 | 909 | |||||||||||||||||||||||
Agriculture Land | 987 | 26 | 16 | |||||||||||||||||||||||
Other CRE | 4,162 | 43 | 38 | |||||||||||||||||||||||
Total Commercial Real Estate | 41,801 | 1,346 | 1,349 | |||||||||||||||||||||||
Construction | 165 | 10 | 8 | |||||||||||||||||||||||
Commercial Working Capital | 2,085 | 33 | 36 | |||||||||||||||||||||||
Commercial Other | 6,521 | 75 | 70 | |||||||||||||||||||||||
Total Commercial | 8,606 | 108 | 106 | |||||||||||||||||||||||
Consumer Finance | 83 | 6 | 6 | |||||||||||||||||||||||
Home Equity and Home Improvement | 2,631 | 121 | 117 | |||||||||||||||||||||||
Total Impaired Loans | $ | 65,444 | $ | 2,125 | $ | 2,120 | ||||||||||||||||||||
The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans. (In Thousands) | ||||||||||||||||||||||||||
Twelve Months Ended December 31, | ||||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||
Average | Interest | Cash Basis | ||||||||||||||||||||||||
Balance | Income | Income | ||||||||||||||||||||||||
Recognized | Recognized | |||||||||||||||||||||||||
Residential Owner Occupied | $ | 2,946 | $ | 137 | $ | 136 | ||||||||||||||||||||
Residential Non Owner Occupied | 5,291 | 173 | 177 | |||||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 8,237 | 310 | 313 | |||||||||||||||||||||||
Multi-Family Residential Real Estate | 826 | 22 | 21 | |||||||||||||||||||||||
CRE Owner Occupied | 11,755 | 190 | 176 | |||||||||||||||||||||||
CRE Non Owner Occupied | 17,156 | 540 | 559 | |||||||||||||||||||||||
Agriculture Land | 1,062 | 31 | 23 | |||||||||||||||||||||||
Other CRE | 6,672 | 15 | 15 | |||||||||||||||||||||||
Total Commercial Real Estate | 36,645 | 776 | 773 | |||||||||||||||||||||||
Construction | 9 | - | - | |||||||||||||||||||||||
Commercial Working Capital | 2,021 | 26 | 29 | |||||||||||||||||||||||
Commercial Other | 5,018 | 87 | 90 | |||||||||||||||||||||||
Total Commercial | 7,039 | 113 | 119 | |||||||||||||||||||||||
Consumer Finance | 25 | 3 | 3 | |||||||||||||||||||||||
Home Equity and Home Improvement | 563 | 33 | 33 | |||||||||||||||||||||||
Total Impaired Loans | $ | 53,344 | $ | 1,257 | $ | 1,262 | ||||||||||||||||||||
The following table presents the average balance, interest income recognized and cash basis income recognized on impaired loans by class of loans: (In Thousands) | ||||||||||||||||||||||||||
Twelve Months Ended December 31, | ||||||||||||||||||||||||||
2011 | ||||||||||||||||||||||||||
Average | Interest | Cash Basis | ||||||||||||||||||||||||
Balance | Income | Income | ||||||||||||||||||||||||
Recognized | Recognized | |||||||||||||||||||||||||
Residential Owner Occupied | $ | 2,689 | $ | 68 | $ | 67 | ||||||||||||||||||||
Residential Non Owner Occupied | 2,646 | 85 | 87 | |||||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 5,335 | 153 | 154 | |||||||||||||||||||||||
Multi-Family Residential Real Estate | 2,097 | 88 | 83 | |||||||||||||||||||||||
CRE Owner Occupied | 10,631 | 302 | 282 | |||||||||||||||||||||||
CRE Non Owner Occupied | 19,351 | 777 | 724 | |||||||||||||||||||||||
Agriculture Land | 1,932 | 47 | 47 | |||||||||||||||||||||||
Other CRE | 7,952 | 54 | 43 | |||||||||||||||||||||||
Total Commercial Real Estate | 39,866 | 1,180 | 1,096 | |||||||||||||||||||||||
Construction | 25 | - | - | |||||||||||||||||||||||
Commercial Working Capital | 3,758 | 74 | 77 | |||||||||||||||||||||||
Commercial Other | 9,660 | 194 | 191 | |||||||||||||||||||||||
Total Commercial | 13,418 | 268 | 268 | |||||||||||||||||||||||
Consumer Finance | - | - | - | |||||||||||||||||||||||
Home Equity and Home Improvement | 258 | 12 | 12 | |||||||||||||||||||||||
Total Impaired Loans | $ | 60,999 | $ | 1,701 | $ | 1,613 | ||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||
The following table presents loans individually evaluated for impairment by class of loans: (In Thousands) | ||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||
Unpaid | Recorded | Allowance | Unpaid | Recorded | Allowance | |||||||||||||||||||||
Principal | Investment | for Loan | Principal | Investment | for Loan | |||||||||||||||||||||
Balance* | Losses | Balance* | Losses | |||||||||||||||||||||||
Allocated | Allocated | |||||||||||||||||||||||||
With no allowance recorded: | ||||||||||||||||||||||||||
Residential Owner Occupied | $ | 4,744 | $ | 4,729 | $ | - | $ | 5,427 | $ | 5,357 | $ | - | ||||||||||||||
Residential Non Owner Occupied | 4,844 | 4,329 | - | 4,211 | 3,420 | - | ||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 9,588 | 9,058 | - | 9,638 | 8,777 | - | ||||||||||||||||||||
Multi-Family Residential Real Estate | 989 | 840 | - | 1,775 | 1,626 | - | ||||||||||||||||||||
CRE Owner Occupied | 11,105 | 8,376 | - | 12,314 | 9,782 | - | ||||||||||||||||||||
CRE Non Owner Occupied | 9,399 | 7,740 | - | 11,054 | 9,105 | - | ||||||||||||||||||||
Agriculture Land | 629 | 488 | - | 1,176 | 993 | - | ||||||||||||||||||||
Other CRE | 3,274 | 2,452 | - | 8,741 | 5,527 | - | ||||||||||||||||||||
Total Commercial Real Estate | 24,407 | 19,056 | - | 33,285 | 25,407 | - | ||||||||||||||||||||
Construction | 300 | 263 | - | 300 | 45 | - | ||||||||||||||||||||
Commercial Working Capital | 3,147 | 3,146 | - | 1,565 | 1,565 | - | ||||||||||||||||||||
Commercial Other | 6,063 | 5,415 | - | 6,367 | 5,338 | - | ||||||||||||||||||||
Total Commercial | 9,210 | 8,561 | - | 7,932 | 6,903 | - | ||||||||||||||||||||
Consumer | 53 | 53 | - | 125 | 124 | - | ||||||||||||||||||||
Home Equity and Home Improvement | 1,985 | 1,992 | - | 2,777 | 2,642 | - | ||||||||||||||||||||
Total loans with no allowance recorded | $ | 46,532 | $ | 39,823 | $ | - | $ | 55,832 | $ | 45,524 | $ | - | ||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||
Residential Owner Occupied | $ | 1,100 | $ | 1,103 | $ | 218 | $ | 1,697 | $ | 1,701 | $ | 257 | ||||||||||||||
Residential Non Owner Occupied | 84 | 84 | 2 | 1,449 | 1,452 | 24 | ||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 1,184 | 1,187 | 220 | 3,146 | 3,153 | 281 | ||||||||||||||||||||
Multi-Family Residential Real Estate | - | - | - | - | - | - | ||||||||||||||||||||
CRE Owner Occupied | 3,212 | 2,765 | 166 | 5,735 | 5,118 | 245 | ||||||||||||||||||||
CRE Non Owner Occupied | 12,756 | 12,803 | 946 | 15,301 | 15,357 | 820 | ||||||||||||||||||||
Agriculture Land | 195 | 197 | 7 | 111 | 112 | 3 | ||||||||||||||||||||
Other CRE | 82 | 53 | 2 | 88 | 59 | 2 | ||||||||||||||||||||
Total Commercial Real Estate | 16,245 | 15,818 | 1,121 | 21,235 | 20,646 | 1,070 | ||||||||||||||||||||
Construction | - | - | - | - | - | - | ||||||||||||||||||||
Commercial Working Capital | - | - | - | 300 | 301 | 10 | ||||||||||||||||||||
Commercial Other | 176 | 176 | 6 | 1,623 | 1,626 | 128 | ||||||||||||||||||||
Total Commercial | 176 | 176 | 6 | 1,923 | 1,927 | 138 | ||||||||||||||||||||
Consumer | - | - | - | - | - | - | ||||||||||||||||||||
Home Equity and Home Improvement | 436 | 437 | 45 | 36 | 36 | 2 | ||||||||||||||||||||
Total loans with an allowance recorded | $ | 18,041 | $ | 17,618 | $ | 1,392 | $ | 26,340 | $ | 25,762 | $ | 1,491 | ||||||||||||||
* Presented gross of charge offs | ||||||||||||||||||||||||||
Schedule of Non-Performing Loans and Real Estate Owned [Table Text Block] | ' | |||||||||||||||||||||||||
The following table presents the current balance of the aggregate amounts of non-performing assets, comprised of non-performing loans and real estate owned on the dates indicated: | ||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||
Non-accrual loans | $ | 27,847 | $ | 32,570 | ||||||||||||||||||||||
Loans over 90 days past due and still accruing | - | - | ||||||||||||||||||||||||
Total non-performing loans | 27,847 | 32,570 | ||||||||||||||||||||||||
Real estate and other assets held for sale | 5,859 | 3,805 | ||||||||||||||||||||||||
Total non-performing assets | $ | 33,706 | $ | 36,375 | ||||||||||||||||||||||
Troubled debt restructuring, still accruing | $ | 27,630 | $ | 28,203 | ||||||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | ' | |||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2013 by class of loans: (In Thousands) | ||||||||||||||||||||||||||
Current | 30-59 days | 60-89 days | 90+ days | Total | Total Non | |||||||||||||||||||||
Past Due | Accrual | |||||||||||||||||||||||||
Residential Owner Occupied | $ | 126,855 | $ | 1,530 | $ | 191 | $ | 1,009 | $ | 2,730 | $ | 1,329 | ||||||||||||||
Residential Non Owner Occupied | 65,292 | 531 | 403 | 386 | 1,320 | 1,943 | ||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 192,147 | 2,061 | 594 | 1,395 | 4,050 | 3,272 | ||||||||||||||||||||
Multi-Family Residential Real Estate | 149,134 | - | - | - | - | 583 | ||||||||||||||||||||
CRE Owner Occupied | 311,253 | 334 | 495 | 3,671 | 4,500 | 7,492 | ||||||||||||||||||||
CRE Non Owner Occupied | 225,433 | 1,067 | 918 | 902 | 2,887 | 4,717 | ||||||||||||||||||||
Agriculture Land | 81,954 | 21 | - | 73 | 94 | 630 | ||||||||||||||||||||
Other Commercial Real Estate | 45,297 | - | - | 1,287 | 1,287 | 2,412 | ||||||||||||||||||||
Total Commercial Real Estate | 663,937 | 1,422 | 1,413 | 5,933 | 8,768 | 15,251 | ||||||||||||||||||||
Construction | 53,730 | - | - | - | - | - | ||||||||||||||||||||
Commercial Working Capital | 155,373 | - | - | 419 | 419 | 2,917 | ||||||||||||||||||||
Commercial Other | 230,054 | 37 | 26 | 3,566 | 3,629 | 5,419 | ||||||||||||||||||||
Total Commercial | 385,427 | 37 | 26 | 3,985 | 4,048 | 8,336 | ||||||||||||||||||||
Consumer Finance | 16,759 | 131 | - | 131 | - | |||||||||||||||||||||
Home Equity/Home Improvement | 105,657 | 1,163 | 155 | 413 | 1,731 | 413 | ||||||||||||||||||||
Total Loans | $ | 1,566,791 | $ | 4,814 | $ | 2,188 | $ | 11,726 | $ | 18,728 | $ | 27,855 | ||||||||||||||
The following table presents the aging of the recorded investment in past due and non-accrual loans as of December 31, 2012 by class of loans: (In Thousands) | ||||||||||||||||||||||||||
Current | 30-59 days | 60-89 days | 90+ days | Total | Total Non | |||||||||||||||||||||
Past Due | Accrual | |||||||||||||||||||||||||
Residential Owner Occupied | $ | 125,362 | $ | 1,238 | $ | 604 | $ | 945 | $ | 2,787 | $ | 1,125 | ||||||||||||||
Residential Non Owner Occupied | 71,777 | 413 | 126 | 849 | 1,388 | 2,473 | ||||||||||||||||||||
Total 1-4 Family Residential Real Estate | 197,139 | 1,651 | 730 | 1,794 | 4,175 | 3,598 | ||||||||||||||||||||
Multi-Family Residential Real Estate | 122,455 | - | - | - | - | 1,178 | ||||||||||||||||||||
CRE Owner Occupied | 321,071 | 1,248 | 382 | 1,622 | 3,252 | 9,652 | ||||||||||||||||||||
CRE Non Owner Occupied | 235,592 | 134 | 1,321 | 2,480 | 3,935 | 6,674 | ||||||||||||||||||||
Agriculture Land | 72,092 | 84 | 31 | - | 115 | 813 | ||||||||||||||||||||
Other Commercial Real Estate | 36,510 | 21 | 875 | 3,560 | 4,456 | 4,761 | ||||||||||||||||||||
Total Commercial Real Estate | 665,265 | 1,487 | 2,609 | 7,662 | 11,758 | 21,900 | ||||||||||||||||||||
Construction | 19,296 | - | - | - | - | - | ||||||||||||||||||||
Commercial Working Capital | 161,110 | - | 155 | 1,204 | 1,359 | 1,528 | ||||||||||||||||||||
Commercial Other | 218,477 | 584 | 1,201 | 2,138 | 3,923 | 4,136 | ||||||||||||||||||||
Total Commercial | 379,587 | 584 | 1,356 | 3,342 | 5,282 | 5,664 | ||||||||||||||||||||
Consumer Finance | 15,702 | 229 | 8 | - | 237 | - | ||||||||||||||||||||
Home Equity/Home Improvement | 106,458 | 2,294 | 225 | 217 | 2,736 | 217 | ||||||||||||||||||||
Total Loans | $ | 1,505,902 | $ | 6,245 | $ | 4,928 | $ | 13,015 | $ | 24,188 | $ | 32,557 | ||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||||
The following table presents loans by class modified as TDRs that occurred during the years ending December 31, 2013, 2012, and 2011 (Dollars in Thousands): | ||||||||||||||||||||||||||
Loans Modified as a TDR for the | Loans Modified as a TDR for the | Loans Modified as a TDR for the | ||||||||||||||||||||||||
Twelve Months Ended December | Twelve Months Ended December | Twelve Months Ended December | ||||||||||||||||||||||||
31, 2013 | 31, 2012 | 31, 2011 | ||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||
Loans | Investment (as of | Loans | Investment (as of | Loans | Investment (as of | |||||||||||||||||||||
period end) | period end) | period end) | ||||||||||||||||||||||||
1-4 Family Owner Occupied | 10 | $ | 752 | 87 | $ | 6,052 | 4 | $ | 250 | |||||||||||||||||
1-4 Family Non Owner Occupied | 5 | 390 | 8 | 666 | 1 | 305 | ||||||||||||||||||||
CRE Owner Occupied | 9 | 714 | 9 | 3,859 | 6 | 426 | ||||||||||||||||||||
CRE Non Owner Occupied | 2 | 1,364 | 13 | 13,942 | 6 | 4,628 | ||||||||||||||||||||
Agriculture Land | 2 | 269 | 3 | 474 | - | - | ||||||||||||||||||||
Other CRE | 3 | 417 | 1 | 59 | - | - | ||||||||||||||||||||
Commercial Working Capital or Other | 8 | 1,602 | 7 | 1,196 | 6 | 2,379 | ||||||||||||||||||||
Home Equity and Improvement | 15 | 561 | 127 | 2,663 | 1 | 22 | ||||||||||||||||||||
Consumer Finance | 3 | 15 | 27 | 124 | - | - | ||||||||||||||||||||
Total | 57 | $ | 6,084 | 282 | $ | 29,035 | 24 | $ | 8,010 | |||||||||||||||||
Troubled Debt Restructurings on Payments [Table Text Block] | ' | |||||||||||||||||||||||||
The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the years ending December 31, 2013, 2012, and 2011: | ||||||||||||||||||||||||||
Twelve Months Ended | Twelve Months Ended | Twelve Months Ended | ||||||||||||||||||||||||
December 31, 2013 ($ in | December 31, 2012 ($ in | December 31, 2011 ($ in | ||||||||||||||||||||||||
thousands) | thousands) | thousands) | ||||||||||||||||||||||||
Troubled Debt Restructurings | Number of | Recorded | Number of | Recorded | Number of | Recorded | ||||||||||||||||||||
That Subsequently Defaulted: | Loans | Investment | Loans | Investment | Loans | Investment | ||||||||||||||||||||
(as of Period | (as of Period | (as of Period | ||||||||||||||||||||||||
End) | End) | End) | ||||||||||||||||||||||||
Residential Owner Occupied | 6 | $ | 409 | 6 | $ | 462 | 2 | $ | 206 | |||||||||||||||||
Residential Non Owner Occupied | - | - | 2 | 203 | - | - | ||||||||||||||||||||
CRE Owner Occupied | 2 | 290 | - | - | 1 | 1,495 | ||||||||||||||||||||
CRE Non Owner Occupied | 1 | 212 | 3 | 555 | - | - | ||||||||||||||||||||
Agriculture Land | - | - | - | - | - | - | ||||||||||||||||||||
Other CRE | 1 | 323 | - | - | - | - | ||||||||||||||||||||
Commercial / Industrial | 5 | 889 | 5 | 2,129 | 1 | 53 | ||||||||||||||||||||
Home Equity / Improvement | 3 | 315 | 7 | 166 | - | - | ||||||||||||||||||||
Consumer | - | - | - | - | - | - | ||||||||||||||||||||
Total | 18 | $ | 2,438 | 23 | $ | 3,515 | 4 | $ | 1,754 | |||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | |||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. As of December 31, 2013, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: (In Thousands) | ||||||||||||||||||||||||||
Class | Pass | Special | Substandard | Doubtful | Not | Total | ||||||||||||||||||||
Mention | Graded | |||||||||||||||||||||||||
1-4 Family Owner Occupied | $ | 4,287 | $ | 18 | $ | 3,515 | $ | - | $ | 121,765 | $ | 129,585 | ||||||||||||||
1-4 Family Non Owner Occupied | 51,660 | 2,894 | 5,699 | - | 6,359 | 66,612 | ||||||||||||||||||||
Total 1-4 Family Real Estate | 55,947 | 2,912 | 9,214 | - | 128,124 | 196,197 | ||||||||||||||||||||
Multi-Family Residential Real Estate | 145,407 | 875 | 1,888 | - | 964 | 149,134 | ||||||||||||||||||||
CRE Owner Occupied | 291,770 | 10,584 | 11,665 | - | 1,734 | 315,753 | ||||||||||||||||||||
CRE Non Owner Occupied | 200,790 | 10,254 | 17,185 | - | 91 | 228,320 | ||||||||||||||||||||
Agriculture Land | 80,418 | 578 | 1,051 | - | - | 82,047 | ||||||||||||||||||||
Other CRE | 40,676 | 2,074 | 3,104 | - | 731 | 46,585 | ||||||||||||||||||||
Total Commercial Real Estate | 613,654 | 23,490 | 33,005 | - | 2,556 | 672,705 | ||||||||||||||||||||
Construction | 43,465 | - | 263 | - | 10,002 | 53,730 | ||||||||||||||||||||
Commercial Working Capital | 148,703 | 3,429 | 3,660 | - | - | 155,792 | ||||||||||||||||||||
Commercial Other | 219,790 | 6,994 | 6,899 | - | - | 233,683 | ||||||||||||||||||||
Total Commercial | 368,493 | 10,423 | 10,559 | - | - | 389,475 | ||||||||||||||||||||
Home Equity and Home Improvement | - | - | 755 | 45 | 106,587 | 107,387 | ||||||||||||||||||||
Consumer Finance | - | - | 31 | - | 16,860 | 16,891 | ||||||||||||||||||||
Total Loans | $ | 1,226,966 | $ | 37,700 | $ | 55,715 | $ | 45 | $ | 265,093 | $ | 1,585,519 | ||||||||||||||
As of December 31, 2012, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: (In Thousands) | ||||||||||||||||||||||||||
Class | Pass | Special | Substandard | Doubtful | Not | Total | ||||||||||||||||||||
Mention | Graded | |||||||||||||||||||||||||
1-4 Family Owner Occupied | $ | 4,221 | $ | 75 | $ | 3,617 | $ | 234 | $ | 120,002 | $ | 128,149 | ||||||||||||||
1-4 Family Non Owner Occupied | 55,771 | 2,453 | 8,248 | - | 6,693 | 73,165 | ||||||||||||||||||||
Total 1-4 Family Real Estate | 59,992 | 2,528 | 11,865 | 234 | 126,695 | 201,314 | ||||||||||||||||||||
Multi-Family Residential Real Estate | 118,121 | 910 | 2,404 | - | 1,020 | 122,455 | ||||||||||||||||||||
CRE Owner Occupied | 292,765 | 10,440 | 18,740 | - | 2,378 | 324,323 | ||||||||||||||||||||
CRE Non Owner Occupied | 207,745 | 9,077 | 22,615 | - | 90 | 239,527 | ||||||||||||||||||||
Agriculture Land | 69,924 | 769 | 1,514 | - | - | 72,207 | ||||||||||||||||||||
Other CRE | 31,875 | 891 | 7,222 | - | 978 | 40,966 | ||||||||||||||||||||
Total Commercial Real Estate | 602,309 | 21,177 | 50,091 | - | 3,446 | 677,023 | ||||||||||||||||||||
Construction | 11,360 | - | 45 | - | 7,891 | 19,296 | ||||||||||||||||||||
Commercial Working Capital | 156,433 | 3,587 | 2,449 | - | - | 162,469 | ||||||||||||||||||||
Commercial Other | 208,783 | 5,204 | 8,413 | - | - | 222,400 | ||||||||||||||||||||
Total Commercial | 365,216 | 8,791 | 10,862 | - | - | 384,869 | ||||||||||||||||||||
Home Equity and Home Improvement | - | - | 668 | 64 | 108,462 | 109,194 | ||||||||||||||||||||
Consumer Finance | - | - | 70 | - | 15,869 | 15,939 | ||||||||||||||||||||
Total Loans | $ | 1,156,998 | $ | 33,406 | $ | 76,005 | $ | 298 | $ | 263,383 | $ | 1,530,090 | ||||||||||||||
Estimated Fair Value Of Loans [Table Text Block] | ' | |||||||||||||||||||||||||
In accordance with FASB ASC Topic 310 Subtopic 30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, these loans have been recorded based on management’s estimate of the fair value of the loans. Details of these loans are as follows: | ||||||||||||||||||||||||||
Contractual | Impairment | Recorded | ||||||||||||||||||||||||
Amount | Discount | Loan | ||||||||||||||||||||||||
Receivable | Receivable | |||||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||
Balance at January 1, 2011 | $ | 3,482 | $ | 1,286 | $ | 2,196 | ||||||||||||||||||||
Principal payments received | -413 | - | -413 | |||||||||||||||||||||||
Loans charged off | -250 | -250 | - | |||||||||||||||||||||||
Additional provision for loan loss | -613 | - | -613 | |||||||||||||||||||||||
Loan accretion recorded | - | -33 | 33 | |||||||||||||||||||||||
Balance at December 31, 2011 | 2,206 | 1,003 | 1,203 | |||||||||||||||||||||||
Principal payments received | -697 | - | -697 | |||||||||||||||||||||||
Loans charged off | -487 | -487 | - | |||||||||||||||||||||||
Additional provision for loan loss | -167 | - | -167 | |||||||||||||||||||||||
Loan accretion recorded | - | -173 | 173 | |||||||||||||||||||||||
Balance at December 31, 2012 | 855 | 343 | 512 | |||||||||||||||||||||||
Principal payments received | -108 | - | -108 | |||||||||||||||||||||||
Loans charged off | -41 | -41 | - | |||||||||||||||||||||||
Additional provision for loan loss | -203 | - | -203 | |||||||||||||||||||||||
Loan accretion recorded | - | -29 | 29 | |||||||||||||||||||||||
Balance at December 31, 2013 | $ | 503 | $ | 273 | $ | 230 | ||||||||||||||||||||
Schedule Of Loan Allocated To Executive Officers Directors And Their Affiliates [Table Text Block] | ' | |||||||||||||||||||||||||
Loans to executive officers, directors, and their affiliates are as follows (in thousands): | ||||||||||||||||||||||||||
Years Ended December 31 | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Beginning balance | $ | 3,489 | $ | 4,775 | ||||||||||||||||||||||
New loans | 8,874 | 5,036 | ||||||||||||||||||||||||
Effect of changes in composition of related parties | - | -878 | ||||||||||||||||||||||||
Repayments | -8,651 | -5,444 | ||||||||||||||||||||||||
Ending Balance | $ | 3,712 | $ | 3,489 | ||||||||||||||||||||||
Mortgage_Banking_Tables
Mortgage Banking (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Mortgage Banking [Abstract] | ' | |||||||||||
Mortgage Loans [Table Text Block] | ' | |||||||||||
Net revenues from the sales and servicing of mortgage loans consisted of the following: | ||||||||||||
Years Ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In Thousands) | ||||||||||||
Gain from sale of mortgage loans | $ | 5,716 | $ | 10,599 | $ | 5,607 | ||||||
Mortgage loan servicing revenue (expense): | ||||||||||||
Mortgage loan servicing revenue | 3,564 | 3,387 | 3,403 | |||||||||
Amortization of mortgage servicing rights | -2,098 | -3,562 | -2,169 | |||||||||
Mortgage servicing rights valuation adjustments | 1,261 | -759 | -404 | |||||||||
2,727 | -934 | 830 | ||||||||||
Net revenue from sale and servicing of mortgage loans | $ | 8,443 | $ | 9,665 | $ | 6,437 | ||||||
Capitalized Mortgage and Valuation Allowance [Table Text Block] | ' | |||||||||||
Activity for capitalized mortgage servicing rights and the related valuation allowance follows: | ||||||||||||
Years Ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In Thousands) | ||||||||||||
Mortgage servicing assets: | ||||||||||||
Balance at beginning of period | $ | 10,121 | $ | 10,219 | $ | 10,602 | ||||||
Loans sold, servicing retained | 2,110 | 3,464 | 1,786 | |||||||||
Amortization | -2,098 | -3,562 | -2,169 | |||||||||
Carrying value before valuation allowance at end of period | 10,133 | 10,121 | 10,219 | |||||||||
Valuation allowance: | ||||||||||||
Balance at beginning of period | -2,288 | -1,529 | -1,125 | |||||||||
Impairment recovery (charges) | 1,261 | -759 | -404 | |||||||||
Balance at end of period | -1,027 | -2,288 | -1,529 | |||||||||
Net carrying value of MSRs at end of period | $ | 9,106 | $ | 7,833 | $ | 8,690 | ||||||
Fair value of MSRs at end of period | $ | 9,686 | $ | 7,833 | $ | 8,690 | ||||||
Servicing Portfolio [Table Text Block] | ' | |||||||||||
The Company’s servicing portfolio is comprised of the following: | ||||||||||||
December 31 | ||||||||||||
2013 | 2012 | |||||||||||
Number of | Principal | Number of | Principal | |||||||||
Investor | Loans | Outstanding | Loans | Outstanding | ||||||||
(In Thousands) | ||||||||||||
Fannie Mae | 5,304 | $ | 527,666 | 5,190 | $ | 522,978 | ||||||
Freddie Mac | 8,873 | 829,594 | 8,550 | 786,124 | ||||||||
Federal Home Loan Bank | 116 | 12,093 | 166 | 18,330 | ||||||||
Other | 26 | 1,888 | 21 | 1,285 | ||||||||
Totals | 14,319 | $ | 1,371,241 | 13,927 | $ | 1,328,717 | ||||||
Schedule of Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferors Continuing Involvement, Servicing Assets or Liabilities [Table Text Block] | ' | |||||||||||
10% Adverse | 20% Adverse | |||||||||||
Change | Change | |||||||||||
(In Thousands) | ||||||||||||
Assumption: | ||||||||||||
Decline in fair value from increase in prepayment rate | $ | 454 | $ | 861 | ||||||||
Declines in fair value from increase in discount rate | 318 | 725 | ||||||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
Premises and equipment are summarized as follows: | ||||||||
31-Dec | ||||||||
2013 | 2012 | |||||||
(In Thousands) | ||||||||
Cost: | ||||||||
Land | $ | 7,960 | $ | 7,376 | ||||
Land improvements | 1,310 | 1,310 | ||||||
Buildings | 39,716 | 39,691 | ||||||
Leasehold improvements | 469 | 435 | ||||||
Furniture, fixtures and equipment | 28,654 | 27,596 | ||||||
Construction in process | 514 | 262 | ||||||
78,623 | 76,670 | |||||||
Less allowances for depreciation and amortization | 40,026 | 37,007 | ||||||
$ | 38,597 | $ | 39,663 | |||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | |||||||
Future minimum commitments under non-cancelable operating leases are as follows (in thousands): | ||||||||
2014 | $ | 706 | ||||||
2015 | 613 | |||||||
2016 | 601 | |||||||
2017 | 512 | |||||||
2018 | 471 | |||||||
Thereafter | 4,745 | |||||||
Total | $ | 7,648 | ||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||
Schedule of Goodwill [Table Text Block] | ' | ||||||||||
The change in the carrying amount of goodwill for the year is as follows (In Thousands): | |||||||||||
December 31 | |||||||||||
2013 | 2012 | ||||||||||
Beginning balance | $ | 61,525 | $ | 61,525 | |||||||
Goodwill acquired or adjusted during the year | - | - | |||||||||
Ending balance | $ | 61,525 | $ | 61,525 | |||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||||
Activity in intangible assets for the years ended December 31, 2013, 2012 and 2011 was as follows: | |||||||||||
Gross | |||||||||||
Carrying | Accumulated | Net | |||||||||
Amount | Amortization | Value | |||||||||
(In Thousands) | |||||||||||
Balance as of January 1, 2011 | $ | 12,837 | $ | -6,709 | $ | 6,128 | |||||
Intangible assets acquired | 1,465 | - | 1,465 | ||||||||
Amortization of intangible assets | - | -1,442 | -1,442 | ||||||||
Balance as of December 31, 2011 | 14,302 | -8,151 | 6,151 | ||||||||
Amortization of intangible assets | - | -1,413 | -1,413 | ||||||||
Balance as of December 31, 2012 | 14,302 | -9,564 | 4,738 | ||||||||
Amortization of intangible assets | - | -1,241 | -1,241 | ||||||||
Balance as of December 31, 2013 | $ | 14,302 | $ | -10,805 | $ | 3,497 | |||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ||||||||||
Estimated amortization expense for each of the next five years and thereafter (in thousands) is as follows: | |||||||||||
2014 | $ | 1,102 | |||||||||
2015 | 687 | ||||||||||
2016 | 501 | ||||||||||
2017 | 372 | ||||||||||
2018 | 301 | ||||||||||
Thereafter | 534 | ||||||||||
Total | $ | 3,497 | |||||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Deposits [Abstract] | ' | ||||||||||
Schedule Sets Forth Interest Expense By Type Of Deposit [Table Text Block] | ' | ||||||||||
The following schedule sets forth interest expense by type of deposit: | |||||||||||
Years Ended December 31 | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In Thousands) | |||||||||||
Checking and money market accounts | $ | 1,125 | $ | 1,368 | $ | 2,144 | |||||
Savings accounts | 90 | 116 | 249 | ||||||||
Certificates of deposit | 4,698 | 6,685 | 9,782 | ||||||||
Totals | $ | 5,913 | $ | 8,169 | $ | 12,175 | |||||
Deposits [Table Text Block] | ' | ||||||||||
A summary of deposit balances is as follows: | |||||||||||
31-Dec | |||||||||||
2013 | 2012 | ||||||||||
(In Thousands) | |||||||||||
Non-interest bearing checking accounts | $ | 348,943 | $ | 315,132 | |||||||
Interest bearing checking and money market accounts | 715,939 | 664,857 | |||||||||
Savings deposits | 185,121 | 166,945 | |||||||||
Retail certificates of deposit less than $100,000 | 313,335 | 342,472 | |||||||||
Retail certificates of deposit greater than $100,000 | 172,454 | 176,029 | |||||||||
Brokered or national certificates of deposit | - | 2,037 | |||||||||
$ | 1,735,792 | $ | 1,667,472 | ||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | ' | ||||||||||
Scheduled maturities of certificates of deposit at December 31, 2013 are as follows (in thousands): | |||||||||||
2014 | $ | 296,186 | |||||||||
2015 | 87,059 | ||||||||||
2016 | 51,784 | ||||||||||
2017 | 8,980 | ||||||||||
2018 | 41,631 | ||||||||||
2019 and thereafter | 149 | ||||||||||
Total | $ | 485,789 | |||||||||
Advances_from_Federal_Home_Loa1
Advances from Federal Home Loan Bank (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Advances From Federal Home Loan Banks [Abstract] | ' | ||||||||
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | ' | ||||||||
At year-end, advances from the FHLB were as follows: | |||||||||
Principal Terms | Advance | Range of Maturities | Weighted | ||||||
Amount | Average | ||||||||
Interest | |||||||||
Rate | |||||||||
(in Thousands) | |||||||||
31-Dec-13 | |||||||||
Putable advances | $ | 12,000 | January 2015 to March 2018 | 2.72 | % | ||||
Amortizable mortgage advances | 10,520 | December 2015 to September 2018 | 1.95 | % | |||||
$ | 22,520 | ||||||||
31-Dec-12 | |||||||||
Putable advances | $ | 12,000 | January 2015 to March 2018 | 2.72 | % | ||||
Amortizable mortgage advances | 796 | Dec-15 | 4.1 | % | |||||
$ | 12,796 | ||||||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | ' | ||||||||
Estimated future minimum payments by fiscal year based on maturity date and current interest rates are as follows (in thousands): | |||||||||
2014 | $ | 1,502 | |||||||
2015 | 8,944 | ||||||||
2016 | 1,212 | ||||||||
2017 | 1,212 | ||||||||
2018 | 11,065 | ||||||||
Total minimum payments | 23,935 | ||||||||
Less amounts representing interest | 1,415 | ||||||||
Totals | $ | 22,520 | |||||||
Junior_Subordinated_Debentures1
Junior Subordinated Debentures Owed to Unconsolidated Subsidiary Trust (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust [Abstract] | ' | |||||||
Schedule of Subordinated Borrowing [Table Text Block] | ' | |||||||
Junior subordinated debentures owed to the following affiliates were as follows (In Thousands): | ||||||||
December 31 | ||||||||
2013 | 2012 | |||||||
First Defiance Statutory Trust I due December 2035 | $ | 20,619 | $ | 20,619 | ||||
First Defiance Statutory Trust II due June 2037 | 15,464 | 15,464 | ||||||
Total junior subordinated debentures owed to unconsolidated subsidiary Trusts | $ | 36,083 | $ | 36,083 | ||||
Notes_Payable_and_Other_Shortt1
Notes Payable and Other Short-term Borrowings (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Notes Payable and Other Short Term Borrowings [Abstract] | ' | ||||||||
Schedule of Short-term Debt [Table Text Block] | ' | ||||||||
Total short-term borrowings, revolving and term debt is summarized as follows: | |||||||||
Years Ended December 31 | |||||||||
2013 | 2012 | ||||||||
(In Thousands, Except Percentages) | |||||||||
Securities sold under agreement to repurchase | |||||||||
Amounts outstanding at year-end | $ | 51,919 | $ | 51,702 | |||||
Year-end interest rate | 0.31 | % | 0.63 | % | |||||
Average daily balance during year | 50,877 | 53,171 | |||||||
Maximum month-end balance during the year | 57,182 | 57,050 | |||||||
Average interest rate during the year | 0.44 | % | 0.7 | % | |||||
Other_Noninterest_Expense_Tabl
Other Noninterest Expense (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Other Expense, Nonoperating [Abstract] | ' | ||||||||||
Other Non Interest Expense [Table Text Block] | ' | ||||||||||
The following is a summary of other noninterest expense: | |||||||||||
Years Ended December 31 | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In Thousands) | |||||||||||
Legal and other professional fees | $ | 2,947 | $ | 2,571 | $ | 2,473 | |||||
Marketing | 1,563 | 1,400 | 1,392 | ||||||||
State franchise taxes | 2,323 | 2,495 | 2,010 | ||||||||
REO expenses and write-downs | 1,584 | 1,121 | 2,453 | ||||||||
Printing and office supplies | 449 | 527 | 502 | ||||||||
Amortization of intangibles | 1,241 | 1,413 | 1,442 | ||||||||
Postage | 531 | 567 | 674 | ||||||||
Check charge-offs and fraud losses | 172 | 153 | 493 | ||||||||
Credit and collection expense | 915 | 948 | 874 | ||||||||
Other * | 5,315 | 7,090 | 4,318 | ||||||||
Total other noninterest expense | $ | 17,040 | $ | 18,285 | $ | 16,631 | |||||
*Included in Other for 2012 is $2.0 million in FHLB pre-payment penalties. | |||||||||||
Postretirement_Benefits_Tables
Postretirement Benefits (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||
Schedule of Net Periodic Benefit Cost Not yet Recognized [Table Text Block] | ' | |||||||||||||
Included in accumulated other comprehensive income at December 31, 2013, 2012 and 2011 are the following amounts that have not yet been recognized in net periodic benefit cost: | ||||||||||||||
31-Dec | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
(In Thousands) | ||||||||||||||
Unrecognized prior service cost | $ | 78 | $ | 30 | $ | 46 | ||||||||
Unrecognized actuarial losses | 477 | 858 | 1,041 | |||||||||||
Total recognized in Accumulated Other Comprehensive Income | 555 | 888 | 1,087 | |||||||||||
Income tax effect | -194 | -311 | -380 | |||||||||||
Net amount recognized in Accumulated Other Comprehensive Income | $ | 361 | $ | 577 | $ | 707 | ||||||||
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||
The following table summarizes benefit obligation and plan asset activity for the plan measured as of December 31 each year: | ||||||||||||||
December 31 | ||||||||||||||
2013 | 2012 | |||||||||||||
(In Thousands) | ||||||||||||||
Change in benefit obligation: | ||||||||||||||
Benefit obligation at beginning of year | $ | 3,140 | $ | 3,117 | ||||||||||
Service cost | 82 | 88 | ||||||||||||
Interest cost | 118 | 120 | ||||||||||||
Participant contribution | 25 | 16 | ||||||||||||
Actuarial (gains) / losses | -347 | -148 | ||||||||||||
Acquisition | - | 60 | ||||||||||||
Benefits paid | -139 | -113 | ||||||||||||
Benefit obligation at end of year | 2,878 | 3,140 | ||||||||||||
Change in fair value of plan assets: | ||||||||||||||
Balance at beginning of year | - | - | ||||||||||||
Employer contribution | 114 | 97 | ||||||||||||
Participant contribution | 25 | 16 | ||||||||||||
Benefits paid | -139 | -113 | ||||||||||||
Balance at end of year | - | - | ||||||||||||
Funded status at end of year | $ | -2,878 | $ | -3,140 | ||||||||||
Schedule of Net Benefit Costs [Table Text Block] | ' | |||||||||||||
Net periodic postretirement benefit cost includes the following components: | ||||||||||||||
Years Ended December 31 | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
(In Thousands) | ||||||||||||||
Service cost-benefits attributable to service during the period | $ | 82 | $ | 88 | $ | 73 | ||||||||
Interest cost on accumulated postretirement benefit obligation | 118 | 120 | 128 | |||||||||||
Net amortization and deferral | 46 | 51 | 25 | |||||||||||
Net periodic postretirement benefit cost | 246 | 259 | 226 | |||||||||||
Net (gain) / loss during the year | -347 | -148 | 537 | |||||||||||
Impact of prior year acquisition | 60 | - | - | |||||||||||
Amortization of prior service cost and actuarial losses | -46 | -51 | -25 | |||||||||||
Total recognized in comprehensive income | -333 | -199 | 512 | |||||||||||
Total recognized in net periodic postretirement benefit | $ | -87 | $ | 60 | $ | 738 | ||||||||
cost and other comprehensive income | ||||||||||||||
Assumptions Are Used In Determining Components Of Postretirement Benefit Obligation [Table Text Block] | ' | |||||||||||||
The following assumptions were used in determining the components of the postretirement benefit obligation: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Weighted average discount rates: | ||||||||||||||
Used to determine benefit obligations at December 31 | 4.75 | % | 4 | % | 4.25 | % | ||||||||
Used to determine net periodic postretirement benefit cost for years ended | 4 | % | 4.25 | % | 5.25 | % | ||||||||
December 31 | ||||||||||||||
Assumed health care cost trend rates at December 31: | ||||||||||||||
Health care cost trend rate assumed for next year | 7.5 | % | 8 | % | 7.5 | % | ||||||||
Rate to which the cost trend rate is assumed to decline (the ultimate | 5 | % | 5 | % | 4 | % | ||||||||
trend rate) | ||||||||||||||
Year that rate reaches ultimate trend rate | 2019 | 2019 | 2019 | |||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | ' | |||||||||||||
The following benefits are expected to be paid over the next five years and in aggregate for the next five years thereafter. Because the plan is unfunded, the expected net benefits to be paid and the estimated Company contributions are the same amount. | ||||||||||||||
Expected to be Paid | ||||||||||||||
(In Thousands) | ||||||||||||||
2014 | $ | 140 | ||||||||||||
2015 | 128 | |||||||||||||
2016 | 132 | |||||||||||||
2017 | 160 | |||||||||||||
2018 | 153 | |||||||||||||
2019 through 2023 | 892 | |||||||||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | ' | |||||||||||||
A one-percentage-point change in assumed health care cost trend rates would have the following effect: | ||||||||||||||
One-Percentage-Point | One-Percentage-Point | |||||||||||||
Increase | Decrease | |||||||||||||
Year Ended December 31 | Year Ended December 31 | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(In Thousands) | ||||||||||||||
Effect on total of service and interest cost | $ | 28 | $ | 30 | $ | -24 | $ | -25 | ||||||
Effect on postretirement benefit obligation | 351 | 406 | -299 | -344 | ||||||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | ||||||||||||||||||
Computation of Net Capital under Securities and Exchange Commission Regulation [Table Text Block] | ' | ||||||||||||||||||
The following schedule presents First Defiance consolidated and First Federal’s regulatory capital ratios as of December 31, 2013 and December 31, 2012: | |||||||||||||||||||
December 31, 2013 | |||||||||||||||||||
Actual | Minimum Required for | Minimum Required for Well | |||||||||||||||||
Adequately Capitalized | Capitalized | ||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||
Tier 1 Capital (1) | |||||||||||||||||||
Consolidated | $ | 246,258 | 11.86 | % | $ | 83,045 | 4 | % | N/A | N/A | |||||||||
First Federal | $ | 235,699 | 11.36 | % | $ | 82,978 | 4 | % | $ | 103,722 | 5 | % | |||||||
Tier 1 Capital (to Risk | |||||||||||||||||||
Weighted Assets) (1) | |||||||||||||||||||
Consolidated | $ | 246,258 | 13.98 | % | $ | 70,473 | 4 | % | N/A | N/A | |||||||||
First Federal | $ | 235,699 | 13.39 | % | $ | 70,418 | 4 | % | $ | 105,627 | 6 | % | |||||||
Total Capital (to Risk | |||||||||||||||||||
Weighted Assets) (1) | |||||||||||||||||||
Consolidated | $ | 268,317 | 15.23 | % | $ | 140,947 | 8 | % | N/A | N/A | |||||||||
First Federal | $ | 257,741 | 14.64 | % | $ | 140,836 | 8 | % | $ | 176,046 | 10 | % | |||||||
-1 | Core capital is computed as a percentage of adjusted total assets of $2.08 billion and $2.07 billion for consolidated and the bank, respectively. Risk-based capital is computed as a percentage of total risk-weighted assets of $1.76 billion and $1.76 billion for consolidated and First Federal, respectively. | ||||||||||||||||||
December 31, 2012 | |||||||||||||||||||
Actual | Minimum Required for | Minimum Required for Well | |||||||||||||||||
Adequately Capitalized | Capitalized | ||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||
Tier 1 Capital (1) | |||||||||||||||||||
Consolidated | $ | 226,931 | 11.48 | % | $ | 79,056 | 4 | % | N/A | N/A | |||||||||
First Federal Bank | $ | 215,432 | 10.92 | % | $ | 78,914 | 4 | % | $ | 98,642 | 5 | % | |||||||
Tier 1 Capital (to Risk | |||||||||||||||||||
Weighted Assets) (1) | |||||||||||||||||||
Consolidated | $ | 226,931 | 13.41 | % | $ | 67,715 | 4 | % | N/A | N/A | |||||||||
First Federal Bank | $ | 215,432 | 12.74 | % | $ | 67,632 | 4 | % | $ | 101,448 | 6 | % | |||||||
Total Capital (to Risk | |||||||||||||||||||
Weighted Assets) (1) | |||||||||||||||||||
Consolidated | $ | 248,161 | 14.66 | % | $ | 135,430 | 8 | % | N/A | N/A | |||||||||
First Federal Bank | $ | 236,635 | 14 | % | $ | 135,264 | 8 | % | $ | 169,080 | 10 | % | |||||||
-1 | Core capital is computed as a percentage of adjusted total assets of $2.00 billion and $1.99 billion for consolidated and the bank, respectively. Risk-based capital is computed as a percentage of total risk-weighted assets of $1.64 billion and $1.64 billion for consolidated and First Federal, respectively. | ||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | ||||||||||
The components of income tax expense are as follows: | |||||||||||
Years Ended December 31 | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In Thousands) | |||||||||||
Current: | |||||||||||
Federal | $ | 7,751 | $ | 7,862 | $ | 3,714 | |||||
State and local | 9 | -50 | -91 | ||||||||
Deferred | 1,518 | 200 | 3,042 | ||||||||
$ | 9,278 | $ | 8,012 | $ | 6,665 | ||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | ||||||||||
The provision for income taxes differs from that computed at the statutory corporate tax rate as follows: | |||||||||||
Years Ended December 31 | |||||||||||
2013 | 2012 | 2011 | |||||||||
(In Thousands) | |||||||||||
Tax expense at statutory rate (35%) | $ | 11,030 | $ | 9,337 | $ | 7,769 | |||||
Increases (decreases) in taxes from: | |||||||||||
State income tax – net of federal tax benefit | 4 | -32 | -59 | ||||||||
Tax exempt interest income, net of TEFRA | -1,043 | -1,047 | -926 | ||||||||
Bank owned life insurance | -449 | -374 | -230 | ||||||||
Stock option expense | 12 | 22 | 36 | ||||||||
Captive insurance | -415 | - | - | ||||||||
Other | 139 | 106 | 75 | ||||||||
Totals | $ | 9,278 | $ | 8,012 | $ | 6,665 | |||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||||
Significant components of First Defiance’s deferred federal income tax assets and liabilities are as follows: | |||||||||||
31-Dec | |||||||||||
2013 | 2012 | ||||||||||
(In Thousands) | |||||||||||
Deferred federal income tax assets: | |||||||||||
Allowance for loan losses | $ | 8,798 | $ | 9,349 | |||||||
Postretirement benefit costs | 1,013 | 1,078 | |||||||||
Deferred compensation | 1,412 | 1,095 | |||||||||
Impaired loans | 986 | 1,531 | |||||||||
Capital loss carry-forward | 555 | 596 | |||||||||
Impaired investments | 971 | 846 | |||||||||
Accrued vacation | 581 | 499 | |||||||||
Allowance for real estate held for sale losses | 277 | 484 | |||||||||
Deferred loan origination fees and costs | 265 | 251 | |||||||||
Other | 718 | 844 | |||||||||
Total deferred federal income tax assets | 15,576 | 16,573 | |||||||||
Deferred federal income tax liabilities: | |||||||||||
FHLB stock dividends | 3,238 | 3,259 | |||||||||
Goodwill | 4,586 | 4,293 | |||||||||
Mortgage servicing rights | 3,211 | 2,742 | |||||||||
Fixed assets | 1,693 | 1,353 | |||||||||
Other intangible assets | 607 | 954 | |||||||||
Loan mark to market | 515 | 766 | |||||||||
Net unrealized gains on available-for-sale securities | 488 | 2,612 | |||||||||
Prepaid expenses | 617 | 464 | |||||||||
Other | 56 | 52 | |||||||||
Total deferred federal income tax liabilities | 15,011 | 16,495 | |||||||||
Net deferred federal income tax asset (liability) | $ | 565 | $ | 78 | |||||||
Reconciliation Of Beginning And Ending Amount Of Unrecognized Tax Benefits [Table Text Block] | ' | ||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): | |||||||||||
Balance at January 1, 2011 | $ | 281 | |||||||||
Additions based on tax positions related to the current year | - | ||||||||||
Additions for tax positions of prior years | - | ||||||||||
Reductions for tax positions of prior years | - | ||||||||||
Reductions due to the statute of limitations | -140 | ||||||||||
Settlements | - | ||||||||||
Balance at December 31, 2011 | $ | 141 | |||||||||
Balance at January 1, 2012 | $ | 141 | |||||||||
Additions based on tax positions related to the current year | - | ||||||||||
Additions for tax positions of prior years | - | ||||||||||
Reductions for tax positions of prior years | - | ||||||||||
Reductions due to the statute of limitations | -76 | ||||||||||
Settlements | - | ||||||||||
Balance at December 31, 2012 | $ | 65 | |||||||||
Balance at January 1, 2013 | $ | 65 | |||||||||
Additions based on tax positions related to the current year | - | ||||||||||
Additions for tax positions of prior years | - | ||||||||||
Reductions for tax positions of prior years | - | ||||||||||
Reductions due to the statute of limitations | -65 | ||||||||||
Settlements | - | ||||||||||
Balance at December 31, 2013 | $ | - | |||||||||
Stock_Compensation_Plans_Table
Stock Compensation Plans (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ' | |||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||
Following is activity under the plans during 2013: | ||||||||||||
Stock options: | Options | Weighted | Weighted | Aggregate | ||||||||
Outstanding | Average | Average | Intrinsic | |||||||||
Exercise Price | Remaining | Value | ||||||||||
Contractual | (in 000’s) | |||||||||||
Term (in years) | ||||||||||||
Options outstanding, January 1, 2013 | 312,350 | $ | 20.33 | |||||||||
Forfeited or cancelled | -22,000 | 22.31 | ||||||||||
Exercised | -39,330 | 16.55 | ||||||||||
Granted | - | - | ||||||||||
Options outstanding, December 31, 2013 | 251,020 | $ | 20.75 | 3.16 | $ | 1,415 | ||||||
Vested or expected to vest at | 251,020 | $ | 20.75 | 3.16 | $ | 1,415 | ||||||
December 31, 2013 | ||||||||||||
Exercisable at December 31, 2013 | 240,350 | $ | 21.26 | 3.06 | $ | 1,239 | ||||||
Schedule Of Share Based Compensation Stock Options Plans [Table Text Block] | ' | |||||||||||
Information related to the stock option plans follows: | ||||||||||||
Year Ended December 31 | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(in thousands, except per share amounts) | ||||||||||||
Intrinsic value of options exercised | $ | 310 | $ | 4 | $ | 1 | ||||||
Cash received from option exercises | 350 | 5 | 11 | |||||||||
Tax benefit realized from option exercises | 54 | - | - | |||||||||
Weighted average fair value of options granted | - | - | - | |||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | |||||||||||
Total expense of $1.0 million, $677,000 and $492,000 was recorded during the years ended December 31, 2013, 2012 and 2011, respectively, and approximately $540,000 and $530,000 is included within other liabilities at December 31, 2013 and 2012, respectively, related to the STIPs and LTIPs. | ||||||||||||
Restricted Stock Units | Stock Grants | |||||||||||
Weighted-Average | Weighted-Average | |||||||||||
Grant Date | Grant Date | |||||||||||
Unvested Shares | Shares | Fair Value | Shares | Fair Value | ||||||||
Unvested at January 1, 2013 | 38,871 | $ | 14.74 | 11,260 | $ | 13.28 | ||||||
Granted | 91,187 | 19.42 | 20,639 | 15.77 | ||||||||
Vested | -20,639 | 15.77 | -31,899 | 14.89 | ||||||||
Forfeited | -3,358 | 11.97 | - | - | ||||||||
Unvested at December 31, 2013 | 106,061 | $ | 18.66 | - | $ | - | ||||||
Parent_Company_Statements_Tabl
Parent Company Statements (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||
Condensed Balance Sheet [Table Text Block] | ' | ||||||||||
Condensed parent company financial statements, which include transactions with subsidiaries, follow: | |||||||||||
31-Dec | |||||||||||
Statements of Financial Condition | 2013 | 2012 | |||||||||
(In Thousands) | |||||||||||
Assets | |||||||||||
Cash and cash equivalents | $ | 8,228 | $ | 8,884 | |||||||
Available for Sale Securities | - | 1,002 | |||||||||
Investment in banking subsidiary | 285,813 | 270,444 | |||||||||
Investment in non-bank subsidiaries | 13,518 | 13,034 | |||||||||
Other assets | 1,774 | 1,766 | |||||||||
Total assets | $ | 309,333 | $ | 295,130 | |||||||
Liabilities and stockholders’ equity: | |||||||||||
Subordinated debentures | $ | 36,083 | $ | 36,083 | |||||||
Accrued liabilities | 1,103 | 919 | |||||||||
Stockholders’ equity | 272,147 | 258,128 | |||||||||
Total liabilities and stockholders’ equity | $ | 309,333 | $ | 295,130 | |||||||
Condensed Income Statement [Table Text Block] | ' | ||||||||||
Years Ended December 31 | |||||||||||
Statements of Income | 2013 | 2012 | 2011 | ||||||||
(In Thousands) | |||||||||||
Dividends from subsidiaries | $ | 4,500 | $ | 37,300 | $ | - | |||||
Interest on investments | 18 | 12 | 8 | ||||||||
Interest expense | -601 | -971 | -1,278 | ||||||||
Other income | 1 | - | 1 | ||||||||
Noninterest expense | -853 | -1,013 | -690 | ||||||||
Income (loss) before income taxes and equity in | 3,065 | 35,328 | -1,959 | ||||||||
earnings of subsidiaries | |||||||||||
Income tax credit | -415 | -669 | -665 | ||||||||
Income (loss) before equity in earnings of subsidiaries | 3,480 | 35,997 | -1,294 | ||||||||
Undistributed equity in (distributions in excess of) | 18,755 | -17,333 | 16,828 | ||||||||
earnings of subsidiaries | |||||||||||
Net income | $ | 22,235 | $ | 18,664 | $ | 15,534 | |||||
Comprehensive income | $ | 18,506 | $ | 18,941 | $ | 19,873 | |||||
Condensed Cash Flow Statement [Table Text Block] | ' | ||||||||||
Years Ended December 31 | |||||||||||
Statements of Cash Flows | 2013 | 2012 | 2011 | ||||||||
(In Thousands) | |||||||||||
Operating activities: | |||||||||||
Net income | $ | 22,235 | $ | 18,664 | $ | 15,534 | |||||
Adjustments to reconcile net income to | |||||||||||
net cash (used in) provided by | |||||||||||
operating activities: | |||||||||||
Distribution in excess of (undistributed | -18,755 | 17,333 | -16,828 | ||||||||
equity in) earnings of subsidiaries | |||||||||||
Change in other assets and liabilities | 176 | 97 | 109 | ||||||||
Net cash provided by (used in) operating activities | 3,656 | 36,094 | -1,185 | ||||||||
Investing activities: | |||||||||||
Investment in non-bank subsidiary | - | -250 | -4,785 | ||||||||
Purchase of available-for-sale securities | - | - | -2,000 | ||||||||
Sale of available-for-sale securities | 1,002 | 1,000 | - | ||||||||
Net cash (used in) provided by investing activities | 1,002 | 750 | -6,785 | ||||||||
Financing activities: | |||||||||||
Repurchase of common stock | -1,821 | - | - | ||||||||
Cash dividends paid | -3,907 | -3,086 | -2,331 | ||||||||
Stock Options Exercised | 350 | 4 | 11 | ||||||||
Treasury stock sales | 64 | 14 | 29 | ||||||||
Proceeds from issuance of common stock | - | - | 19,859 | ||||||||
Preferred Stock payoff | - | -36,358 | - | ||||||||
Net cash used in financing activities | -5,314 | -39,426 | 17,568 | ||||||||
Net increase (decrease) in cash and cash equivalents | -656 | -2,582 | 9,598 | ||||||||
Cash and cash equivalents at beginning of year | 8,884 | 11,466 | 1,868 | ||||||||
Cash and cash equivalents at end of year | $ | 8,228 | $ | 8,884 | $ | 11,466 | |||||
Fair_Value_Tables
Fair Value (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||
The following table summarizes the financial assets measured at fair value on a recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: | |||||||||||||||||
Assets and Liabilities Measured on a Recurring Basis | |||||||||||||||||
31-Dec-13 | Level 1 | Level 2 | Level 3 | Total Fair | |||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||
(In Thousands) | |||||||||||||||||
Available for sale securities: | |||||||||||||||||
Obligations of U.S. Government | $ | - | $ | 4,921 | $ | - | $ | 4,921 | |||||||||
corporations and agencies | |||||||||||||||||
Mortgage-backed - residential | - | 41,292 | - | 41,292 | |||||||||||||
Collateralized mortgage obligations | - | 59,841 | - | 59,841 | |||||||||||||
Trust preferred stock | 1,654 | - | 582 | 2,236 | |||||||||||||
Preferred stock | 718 | - | - | 718 | |||||||||||||
Corporate bonds | - | 8,942 | - | 8,942 | |||||||||||||
Obligations of state and political | - | 80,220 | 80,220 | ||||||||||||||
subdivisions | |||||||||||||||||
Mortgage banking derivative - asset | - | 295 | - | 295 | |||||||||||||
Mortgage banking derivative - liability | - | - | - | - | |||||||||||||
31-Dec-12 | Level 1 | Level 2 | Level 3 | Total Fair | |||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||
(In Thousands) | |||||||||||||||||
Available for sale securities: | |||||||||||||||||
Obligations of U.S. Government | $ | - | $ | 11,069 | $ | - | $ | 11,069 | |||||||||
corporations and agencies | |||||||||||||||||
U.S. treasury bonds | - | 1,002 | - | 1,002 | |||||||||||||
Mortgage-backed - residential | - | 31,461 | - | 31,461 | |||||||||||||
Collateralized mortgage obligations | - | 57,466 | - | 57,466 | |||||||||||||
Trust preferred stock | - | - | 1,474 | 1,474 | |||||||||||||
Preferred stock | 134 | - | - | 134 | |||||||||||||
Corporate bonds | - | 8,884 | - | 8,884 | |||||||||||||
Obligations of state and political subdivisions | - | 82,611 | - | 82,611 | |||||||||||||
Mortgage banking derivative - asset | - | 950 | - | 950 | |||||||||||||
Mortgage banking derivative - liability | - | -94 | - | -94 | |||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||||||
The table below presents a reconciliation and income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2013 and 2012: | |||||||||||||||||
Fair Value Measurements Using Significant | |||||||||||||||||
Unobservable Inputs (Level 3) | |||||||||||||||||
(In Thousands) | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Beginning balance | $ | 1,474 | $ | 1,342 | |||||||||||||
Total gains or losses (realized/unrealized) | |||||||||||||||||
Included in earnings (realized) | -337 | 76 | |||||||||||||||
Included in other comprehensive income | 1,099 | 322 | |||||||||||||||
(presented gross of taxes) | |||||||||||||||||
Amortization | - | - | |||||||||||||||
Redemption | - | -266 | |||||||||||||||
Transfers in and/or out of Level 3 | -1,654 | - | |||||||||||||||
Ending balance | $ | 582 | $ | 1,474 | |||||||||||||
Schedule of Changes in Fair Value of Plan Assets [Table Text Block] | ' | ||||||||||||||||
Changes in Unrealized Gains/Losses Recorded in Earnings | |||||||||||||||||
For the Year Relating to Level 3 Assets Still Held at Reporting | |||||||||||||||||
Date for the Year Ended December 31 | |||||||||||||||||
(In Thousands) | |||||||||||||||||
Trust Preferred Stock | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Interest income on securities | $ | 83 | $ | 160 | $ | 71 | |||||||||||
Other changes in fair value | -420 | -84 | -73 | ||||||||||||||
Total | $ | -337 | $ | 76 | $ | -2 | |||||||||||
Schedule of Fair Value, Assets Measured on Non Recurring Basis [Table Text Block] | ' | ||||||||||||||||
The following table summarizes the financial assets measured at fair value on a non-recurring basis segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: | |||||||||||||||||
Assets and Liabilities Measured on a Non-Recurring Basis | |||||||||||||||||
December 31, 2013 | Level 1 Inputs | Level 2 Inputs | Level 3 Inputs | Total Fair | |||||||||||||
Value | |||||||||||||||||
(In Thousands) | |||||||||||||||||
Impaired loans | |||||||||||||||||
1-4 Family Residential Real Estate | $ | - | $ | - | $ | 259 | $ | 259 | |||||||||
Multi Family Residential | - | - | 338 | 338 | |||||||||||||
Commercial Real Estate | - | - | 9,590 | 9,590 | |||||||||||||
Home Equity and Improvement | - | - | 531 | 531 | |||||||||||||
Total impaired loans | - | - | 10,718 | 10,718 | |||||||||||||
Mortgage servicing rights | - | 1,370 | - | 1,370 | |||||||||||||
Real estate held for sale | |||||||||||||||||
Residential | - | - | 112 | 112 | |||||||||||||
CRE | - | - | 1,278 | 1,278 | |||||||||||||
Total Real Estate held for sale | - | - | 1,390 | 1,390 | |||||||||||||
December 31, 2012 | Level 1 Inputs | Level 2 Inputs | Level 3 Inputs | Total Fair | |||||||||||||
Value | |||||||||||||||||
(In Thousands) | |||||||||||||||||
Impaired loans | |||||||||||||||||
1-4 FamilyResidential Real Estate | $ | - | $ | - | $ | 599 | $ | 599 | |||||||||
Multi Family Residential | - | - | 407 | 407 | |||||||||||||
Commercial Real Estate | - | - | 12,126 | 12,126 | |||||||||||||
Commercial | - | - | 771 | 771 | |||||||||||||
Home Equity and Improvement | - | - | 168 | 168 | |||||||||||||
Total Impaired loans | - | - | 14,071 | 14,071 | |||||||||||||
Mortgage servicing rights | - | 7,833 | - | 7,833 | |||||||||||||
Real estate held for sale | |||||||||||||||||
Residential | - | - | 61 | 61 | |||||||||||||
CRE | - | - | 385 | 385 | |||||||||||||
Total Real Estate held for sale | - | - | 446 | 446 | |||||||||||||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | ' | ||||||||||||||||
For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2013, the significant unobservable inputs used in the fair value measurements were as follows: | |||||||||||||||||
Fair | Valuation Technique | Unobservable Inputs | Range of | Weighted | |||||||||||||
Value | Inputs | Average | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Trust preferred stock | $ | 582 | Discounted cash flow | Constant prepayment rate | Feb-40 | % | 40 | % | |||||||||
Expected asset default | 0-30 | % | 15 | % | |||||||||||||
Expected recoveries | 15-Oct | % | 10 | % | |||||||||||||
Impaired Loans- Applies to all loan classes | $ | 10,718 | Appraisals which utilize sales comparison, net income and cost approach | Discounts for collection issues and changes in market conditions | 0-10 | % | 10 | % | |||||||||
Real estate held for sale – Applies to all classes | $ | 1,390 | Appraisals which utilize sales comparison, net income and cost approach | Discounts for changes in market conditions | 0-20 | % | 20 | % | |||||||||
For Level 3 assets and liabilities measured at fair value on a recurring or nonrecurring basis as of December 31, 2012, the significant unobservable inputs used in the fair value measurements were as follows: | |||||||||||||||||
Fair | Valuation Technique | Unobservable Inputs | Range of | Weighted | |||||||||||||
Value | Inputs | Average | |||||||||||||||
(Dollars in Thousands) | |||||||||||||||||
Trust preferred stock | $ | 1,474 | Discounted cash flow | Constant prepayment rate | Feb-40 | % | 40 | % | |||||||||
Expected asset default | 0-30 | % | 15 | % | |||||||||||||
Expected recoveries | 15-Oct | % | 10 | % | |||||||||||||
Impaired Loans- Applies to all loan classes | $ | 14,071 | Appraisals which utilize sales comparison, net income and cost approach | Discounts for collection issues and changes in market conditions | 0-10 | % | 10 | % | |||||||||
Real estate held for sale – Applies to all classes | $ | 446 | Appraisals which utilize sales comparison, net income and cost approach | Discounts for changes in market conditions | 0-20 | % | 20 | % | |||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
FHLB advances with maturities greater than 90 days are valued based on discounted cash flow analysis, using interest rates currently being quoted for similar characteristics and maturities resulting in a Level 2 classification. The cost or value of any call or put options is based on the estimated cost to settle the option at December 31, 2013. | |||||||||||||||||
Fair Value Measurements at December 31, 2013 | |||||||||||||||||
(In Thousands) | |||||||||||||||||
Carrying | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Value | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 179,318 | $ | 179,318 | $ | 179,318 | $ | - | $ | - | |||||||
Investment securities | 198,557 | 198,563 | 2,372 | 195,609 | 582 | ||||||||||||
Federal Home Loan Bank Stock | 19,350 | N/A | N/A | N/A | N/A | ||||||||||||
Loans, net, including loans | 1,564,618 | 1,568,929 | - | 9,140 | 1,559,789 | ||||||||||||
held for sale | |||||||||||||||||
Accrued interest receivable | 5,778 | 5,778 | 4 | 696 | 5,078 | ||||||||||||
Financial Liabilities: | |||||||||||||||||
Deposits | $ | 1,735,792 | $ | 1,738,216 | $ | 348,943 | $ | 1,389,273 | $ | - | |||||||
Advances from Federal Home | 22,520 | 22,713 | - | 22,713 | - | ||||||||||||
Loan Bank | |||||||||||||||||
Securities sold under repurchase | 51,919 | 51,919 | - | 51,919 | - | ||||||||||||
agreements | |||||||||||||||||
Subordinated debentures | 36,083 | 35,237 | - | - | 35,237 | ||||||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||||||
(In Thousands) | |||||||||||||||||
Carrying | Total | Level 1 | Level 2 | Level 3 | |||||||||||||
Value | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 136,832 | $ | 136,832 | $ | 136,832 | $ | - | $ | - | |||||||
Investment securities | 194,609 | 194,617 | 134 | 193,009 | 1,474 | ||||||||||||
Federal Home Loan Bank Stock | 20,655 | N/A | N/A | N/A | N/A | ||||||||||||
Loans, net, including loans | 1,520,610 | 1,543,438 | - | 22,577 | 1,520,861 | ||||||||||||
held for sale | |||||||||||||||||
Accrued interest receivable | 5,594 | 5,594 | - | 757 | 4,837 | ||||||||||||
Financial Liabilities: | |||||||||||||||||
Deposits | $ | 1,667,472 | $ | 1,671,713 | $ | 315,132 | $ | 1,356,581 | $ | - | |||||||
Advances from Federal Home | 12,796 | 13,466 | - | 13,466 | - | ||||||||||||
Loan Bank | |||||||||||||||||
Securities sold under repurchase | 51,702 | 51,702 | - | 51,702 | - | ||||||||||||
agreements | |||||||||||||||||
Subordinated debentures | 36,083 | 35,766 | - | - | 35,766 | ||||||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position Carrying Value [Table Text Block] | ' | |||||||||||||||||||
The fair value of these mortgage banking derivatives are reflected by a derivative asset or a derivative liability. The table below provides data about the carrying values of these derivative instruments: | ||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||
Assets | (Liabilities) | Assets | (Liabilities) | |||||||||||||||||
Derivative | Derivative | |||||||||||||||||||
Carrying | Carrying | Net Carrying | Carrying | Carrying | Net Carrying | |||||||||||||||
Value | Value | Value | Value | Value | Value | |||||||||||||||
(In Thousands) | ||||||||||||||||||||
Derivatives not designated as | ||||||||||||||||||||
hedging instruments | ||||||||||||||||||||
Mortgage Banking | $ | 295 | $ | - | $ | 295 | $ | 950 | $ | -94 | $ | 856 | ||||||||
Derivatives | ||||||||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | ' | |||||||||||||||||||
The table below provides data about the amount of gains and losses recognized in income on derivative instruments not designated as hedging instruments: | ||||||||||||||||||||
Twelve Months Ended December 31, | ||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||
(In Thousands) | ||||||||||||||||||||
Derivatives not designated as hedging | ||||||||||||||||||||
instruments | ||||||||||||||||||||
Mortgage Banking Derivatives – Gain (Loss) | $ | -526 | $ | 249 | $ | 252 | ||||||||||||||
Quarterly_Consolidated_Results1
Quarterly Consolidated Results of Operations (Unaudited) (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | |||||||||||||
The following is a summary of the quarterly consolidated results of operations: | ||||||||||||||
Three Months Ended | ||||||||||||||
March 31 | June 30 | September 30 | December 31 | |||||||||||
(In Thousands, Except Per Share Amounts) | ||||||||||||||
2013 | ||||||||||||||
Interest income | $ | 18,476 | $ | 18,732 | $ | 18,836 | $ | 18,737 | ||||||
Interest expense | 1,949 | 1,814 | 1,680 | 1,727 | ||||||||||
Net interest income | 16,527 | 16,918 | 17,156 | 17,010 | ||||||||||
Provision for loan losses | 425 | 448 | 476 | 475 | ||||||||||
Net interest income after provision for | 16,102 | 16,470 | 16,680 | 16,535 | ||||||||||
loan losses | ||||||||||||||
Gain on sale, call or write-down of securities | 53 | 44 | - | -337 | ||||||||||
Noninterest income | 8,909 | 7,804 | 7,289 | 6,808 | ||||||||||
Noninterest expense | 17,199 | 15,674 | 16,045 | 15,926 | ||||||||||
Income before income taxes | 7,865 | 8,644 | 7,924 | 7,080 | ||||||||||
Income taxes | 2,306 | 2,535 | 2,445 | 1,992 | ||||||||||
Net income | $ | 5,559 | $ | 6,109 | $ | 5,479 | $ | 5,088 | ||||||
Dividends declared on Preferred Shares | - | - | - | - | ||||||||||
Accretion on Preferred Shares | - | - | - | - | ||||||||||
Net income applicable to common shares | $ | 5,559 | $ | 6,109 | $ | 5,479 | $ | 5,088 | ||||||
Earnings per common share: | ||||||||||||||
Basic | $ | 0.57 | $ | 0.63 | $ | 0.56 | $ | 0.52 | ||||||
Diluted | $ | 0.55 | $ | 0.6 | $ | 0.54 | $ | 0.5 | ||||||
Average shares outstanding: | ||||||||||||||
Basic | 9,736 | 9,774 | 9,780 | 9,766 | ||||||||||
Diluted | 10,105 | 10,156 | 10,212 | 10,198 | ||||||||||
Three Months Ended | ||||||||||||||
March 31 | June 30 | September 30 | December 31 | |||||||||||
(In Thousands, Except Per Share Amounts) | ||||||||||||||
2012 | ||||||||||||||
Interest income | $ | 20,754 | $ | 20,519 | $ | 20,098 | $ | 19,572 | ||||||
Interest expense | 3,555 | 3,273 | 2,923 | 2,186 | ||||||||||
Net interest income | 17,199 | 17,246 | 17,175 | 17,386 | ||||||||||
Provision for loan losses | 3,503 | 4,097 | 705 | 2,619 | ||||||||||
Net interest income after provision for | 13,696 | 13,149 | 16,470 | 14,767 | ||||||||||
loan losses | ||||||||||||||
Gain on sale, call or write-down of securities | 43 | 382 | 103 | 1,606 | ||||||||||
Noninterest income | 8,376 | 7,612 | 7,677 | 8,575 | ||||||||||
Noninterest expense | 16,259 | 15,532 | 16,450 | 17,539 | ||||||||||
Income before income taxes | 5,856 | 5,611 | 7,800 | 7,409 | ||||||||||
Income taxes | 1,703 | 1,690 | 2,366 | 2,253 | ||||||||||
Net income | $ | 4,153 | $ | 3,921 | $ | 5,434 | $ | 5,156 | ||||||
Dividends declared on Preferred Shares | -462 | -435 | -3 | - | ||||||||||
Accretion on Preferred Shares | -46 | -305 | -8 | - | ||||||||||
Redemption of Preferred Shares | - | 642 | - | - | ||||||||||
Net income applicable to common shares | $ | 3,645 | $ | 3,823 | $ | 5,423 | $ | 5,156 | ||||||
Earnings per common share: | ||||||||||||||
Basic | $ | 0.37 | $ | 0.39 | $ | 0.56 | $ | 0.53 | ||||||
Diluted | $ | 0.37 | $ | 0.38 | $ | 0.54 | $ | 0.52 | ||||||
Average shares outstanding: | ||||||||||||||
Basic | 9,726 | 9,729 | 9,729 | 9,729 | ||||||||||
Diluted | 9,970 | 9,985 | 10,000 | 10,012 | ||||||||||
Other_Comprehensive_Income_Los1
Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Other Comprehensive Income (Loss), Net Of Tax [Abstract] | ' | |||||||||||||
Other Comprehensive Income Loss Reclassification Adjustments Related To Securities Available For Sale [Table Text Block] | ' | |||||||||||||
The before and after tax amounts allocated to each component of other comprehensive income (loss) are presented in the table below. Reclassification adjustments related to securities available for sale are included in gains on sale or call of securities and OTTI losses on investment securities in the accompanying consolidated condensed statements of income. | ||||||||||||||
Before Tax | Tax Expense | Net of Tax | ||||||||||||
Amount | (Benefit) | Amount | ||||||||||||
Twelve months ended December 31, 2013: | (In Thousands) | |||||||||||||
Securities available for sale and transferred securities: | ||||||||||||||
Change in net unrealized gain/loss during the period | $ | -6,309 | $ | -2,216 | $ | -4,093 | ||||||||
Reclassification adjustment for net (gains) losses included in net income | 240 | 92 | 148 | |||||||||||
Change in postretirement benefit obligation | 333 | 117 | 216 | |||||||||||
Total other comprehensive income (loss) | $ | -5,736 | $ | -2,007 | $ | -3,729 | ||||||||
Before Tax | Tax Expense | Net of Tax | ||||||||||||
Amount | (Benefit) | Amount | ||||||||||||
Twelve months ended December 31, 2012: | (In Thousands) | |||||||||||||
Securities available for sale and transferred securities: | ||||||||||||||
Change in net unrealized gain/loss during the period | $ | 2,360 | $ | 846 | $ | 1,514 | ||||||||
Reclassification adjustment for net (gains) losses included in net income | -2,134 | -767 | -1,367 | |||||||||||
Change in postretirement benefit obligation | 199 | 69 | 130 | |||||||||||
Total other comprehensive income (loss) | $ | 425 | $ | 148 | $ | 277 | ||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||
Activity in accumulated other comprehensive income (loss), net of tax, was as follows: | ||||||||||||||
Accumulated | ||||||||||||||
Securities | Post- | Other | ||||||||||||
Available | retirement | Comprehensive | ||||||||||||
For Sale | Benefit | Income | ||||||||||||
(In Thousands) | ||||||||||||||
Balance January 1, 2013 | $ | 4,851 | $ | -577 | $ | 4,274 | ||||||||
Other comprehensive loss before | -4,093 | 216 | -3,877 | |||||||||||
reclassifications | ||||||||||||||
Amounts reclassified from accumulated other | 148 | - | 148 | |||||||||||
comprehensive loss | ||||||||||||||
Net other comprehensive loss during period | -3,945 | 216 | -3,729 | |||||||||||
Balance December 31, 2013 | $ | 906 | $ | -361 | $ | 545 | ||||||||
Balance January 1, 2012 | $ | 4,704 | $ | -707 | $ | 3,997 | ||||||||
Other comprehensive loss before | 1,514 | 130 | 1,644 | |||||||||||
reclassifications | ||||||||||||||
Amounts reclassified from accumulated other | -1,367 | - | -1,367 | |||||||||||
comprehensive loss | ||||||||||||||
Net other comprehensive loss during period | 147 | 130 | 277 | |||||||||||
Balance December 31, 2012 | $ | 4,851 | $ | -577 | $ | 4,274 | ||||||||
Statement_of_Accounting_Polici3
Statement of Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Land, Buildings and Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '50 years |
Land, Buildings and Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '20 years |
Furniture, fixtures and equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '15 years |
Furniture, fixtures and equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Statement_of_Accounting_Polici4
Statement of Accounting Policies (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Cash and Due From Banks | $36,318,000 | $45,832,000 | ' |
NonGrandFatheredMissionAssetActivityDescription | 'principally equal to 0.15% of total assets plus an amount of at least 2% but no more than 4% | ' | ' |
Realized Losses On Loan Sold | 597,000 | 73,000 | 413,000 |
Amortization Of Mortgage Servicing Rights Excluding Valuation Adjustments | 3,600,000 | 3,400,000 | 3,400,000 |
Percentage Of Revenue | 9.10% | ' | ' |
Percentage Of Consolidated Net Income | 4.40% | ' | ' |
Percentage Of Assets | 0.70% | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | ' | ' |
Income Tax Benefit Description | 'greater than 50% | ' | ' |
Repurchase Losses Accrued | 67,000 | ' | ' |
Investment in Federal Home Loan Bank Stock [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Other Cash Equivalents, at Carrying Value | 4,200,000 | ' | ' |
Federal Reserve Bank Advances [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Cash and Due From Banks | 2,295,000 | ' | ' |
FHLB of Cincinnati [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Balance Of Stock | 19,300,000 | ' | ' |
FHLB of Indianapolis [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Balance Of Stock | $10,000 | ' | ' |
Core Deposit and Customer Relationship [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | '20 years | ' | ' |
Core Deposit and Customer Relationship [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | '10 years | ' | ' |
Acquisitions_Details_Textual
Acquisitions (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | |
Jul. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | |
Business Acquisition [Line Items] | ' | ' | ' |
Business Acquisition Accrued Liabilities | ' | $137,000 | ' |
Business Acquisition Accrued Liabilities Cash Payout | ' | 157,000 | ' |
Subsequent Event [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Business Acquisition Accrued Liabilities Cash Payout | ' | 20,000 | ' |
Payak-Dubbs Insurance Agecy [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Payments to Acquire Businesses, Gross | 4,800,000 | ' | ' |
Business Acquisition Purchase Price Allocation one Goodwill Amount | ' | 4,000,000 | ' |
Business Acquisition Purchase Price Allocation one Intangible Assets Other Than Goodwill | ' | 810,000 | ' |
Business Acquisition Purchase Price Allocation Customer Related Intangible Assets Other Than Goodwill | ' | 551,000 | ' |
Business Acquisition Purchase Price Allocation Non Compete Intangible Assets Other Than Goodwill | ' | 259,000 | ' |
Business Combination, Liabilities Arising from Contingencies, Amount Recognized, Other than at Fair Value | ' | 822,800 | ' |
Business Combination Liabilities Arising From Contingencies Amount Paid | ' | $596,000 | $70,000 |
Earnings_Per_Common_Share_Deta
Earnings Per Common Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numerator for basic and diluted earnings per common share-net income applicable to common shares (in dollars) | $5,088 | $5,479 | $6,109 | $5,559 | $5,156 | $5,423 | $3,823 | $3,645 | $22,235 | $18,047 | $13,506 |
Denominator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Denominator for basic earnings per common share - weighted average common shares, including participating securities (in shares) | 9,766 | 9,780 | 9,774 | 9,736 | 9,729 | 9,729 | 9,729 | 9,726 | 9,764 | 9,728 | 9,371 |
Effect of dilutive securities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee stock options | ' | ' | ' | ' | ' | ' | ' | ' | 87 | 51 | 15 |
Warrants | ' | ' | ' | ' | ' | ' | ' | ' | 320 | 219 | 154 |
Dilutive potential common shares | 10,198 | 10,212 | 10,156 | 10,105 | 10,012 | 10,000 | 9,985 | 9,970 | 407 | 270 | 169 |
Denominator for diluted earnings per common share (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 10,171 | 9,998 | 9,540 |
Basic earnings per common share (in dollars per share) | $0.52 | $0.56 | $0.63 | $0.57 | $0.53 | $0.56 | $0.39 | $0.37 | $2.28 | $1.86 | $1.44 |
Diluted earnings per common share (in dollars per share) | $0.50 | $0.54 | $0.60 | $0.55 | $0.52 | $0.54 | $0.38 | $0.37 | $2.19 | $1.81 | $1.42 |
Earnings_Per_Common_Share_Deta1
Earnings Per Common Share (Details Textual) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 132,750 | 229,550 | 255,700 |
Investment_Securities_Details
Investment Securities (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Available-for-Sale Securities: | ' | ' |
Available-for-Sale Securities, Amortized Cost | $196,777 | $186,638 |
Available-for-Sale Securities, Gross Unrealized Gains | 5,020 | 9,559 |
Available-for-Sale Securities, Gross Unrealized Losses | -3,627 | -2,096 |
Available-for-Sale Securities, Fair Value | 198,170 | 194,101 |
Held-to-Maturity Securities: | ' | ' |
Held-to-Maturity Securities, Amortized Cost | 387 | 508 |
Held-to-Maturity Securities, Gross Unrealized Gains | 6 | 9 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | -1 |
Held-to-Maturity Securities, Fair Value | 393 | 516 |
US Government Corporations and Agencies Securities [Member] | ' | ' |
Available-for-Sale Securities: | ' | ' |
Available-for-Sale Securities, Amortized Cost | 5,000 | 11,000 |
Available-for-Sale Securities, Gross Unrealized Gains | 0 | 69 |
Available-for-Sale Securities, Gross Unrealized Losses | -79 | 0 |
Available-for-Sale Securities, Fair Value | 4,921 | 11,069 |
US Treasury Securities [Member] | ' | ' |
Available-for-Sale Securities: | ' | ' |
Available-for-Sale Securities, Amortized Cost | ' | 1,000 |
Available-for-Sale Securities, Gross Unrealized Gains | ' | 2 |
Available-for-Sale Securities, Gross Unrealized Losses | ' | 0 |
Available-for-Sale Securities, Fair Value | ' | 1,002 |
Residential Mortgage Backed Securities [Member] | ' | ' |
Available-for-Sale Securities: | ' | ' |
Available-for-Sale Securities, Amortized Cost | 41,368 | 30,020 |
Available-for-Sale Securities, Gross Unrealized Gains | 765 | 1,441 |
Available-for-Sale Securities, Gross Unrealized Losses | -841 | 0 |
Available-for-Sale Securities, Fair Value | 41,292 | 31,461 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Available-for-Sale Securities: | ' | ' |
Available-for-Sale Securities, Amortized Cost | 59,865 | 55,962 |
Available-for-Sale Securities, Gross Unrealized Gains | 739 | 1,504 |
Available-for-Sale Securities, Gross Unrealized Losses | -763 | 0 |
Available-for-Sale Securities, Fair Value | 59,841 | 57,466 |
Trust Preferred Securities and Preferred Stock [Member] | ' | ' |
Available-for-Sale Securities: | ' | ' |
Available-for-Sale Securities, Amortized Cost | 3,264 | 3,600 |
Available-for-Sale Securities, Gross Unrealized Gains | 683 | 99 |
Available-for-Sale Securities, Gross Unrealized Losses | -993 | -2,091 |
Available-for-Sale Securities, Fair Value | 2,954 | 1,608 |
Corporate Bond Securities [Member] | ' | ' |
Available-for-Sale Securities: | ' | ' |
Available-for-Sale Securities, Amortized Cost | 8,854 | 8,717 |
Available-for-Sale Securities, Gross Unrealized Gains | 129 | 167 |
Available-for-Sale Securities, Gross Unrealized Losses | -41 | 0 |
Available-for-Sale Securities, Fair Value | 8,942 | 8,884 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Available-for-Sale Securities: | ' | ' |
Available-for-Sale Securities, Amortized Cost | 78,426 | 76,339 |
Available-for-Sale Securities, Gross Unrealized Gains | 2,704 | 6,277 |
Available-for-Sale Securities, Gross Unrealized Losses | -910 | -5 |
Available-for-Sale Securities, Fair Value | 80,220 | 82,611 |
Held-to-Maturity Securities: | ' | ' |
Held-to-Maturity Securities, Amortized Cost | 186 | 217 |
Held-to-Maturity Securities, Gross Unrealized Gains | 0 | 0 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity Securities, Fair Value | 186 | 217 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ' | ' |
Held-to-Maturity Securities: | ' | ' |
Held-to-Maturity Securities, Amortized Cost | 31 | 69 |
Held-to-Maturity Securities, Gross Unrealized Gains | 0 | 0 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | -1 |
Held-to-Maturity Securities, Fair Value | 31 | 68 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ' | ' |
Held-to-Maturity Securities: | ' | ' |
Held-to-Maturity Securities, Amortized Cost | 120 | 162 |
Held-to-Maturity Securities, Gross Unrealized Gains | 4 | 6 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity Securities, Fair Value | 124 | 168 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | ' | ' |
Held-to-Maturity Securities: | ' | ' |
Held-to-Maturity Securities, Amortized Cost | 50 | 60 |
Held-to-Maturity Securities, Gross Unrealized Gains | 2 | 3 |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity Securities, Fair Value | $52 | $63 |
Investment_Securities_Details_
Investment Securities (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-sale, Due in one year or less, Amortized Cost | $2,135 | $1,252 |
Available-for-sale, Due after one year through five years, Amortized Cost | 8,198 | 15,719 |
Available-for-sale, Due after five years through ten years, Amortized Cost | 38,707 | 33,743 |
Available-for-sale, Due after ten years, Amortized Cost | 46,504 | 49,942 |
Available-for-sale, MBS/CMO, Amortized Cost | 101,233 | 85,982 |
Available-for-sale, Amortized Cost | 196,777 | 186,638 |
Available-for-sale, Due in one year or less, Fair Value | 2,137 | 1,258 |
Available-for-sale, Due after one year through five years, Fair Value | 8,526 | 15,996 |
Available-for-sale, Due after five years through ten years, Fair Value | 40,016 | 36,024 |
Available-for-sale, Due after ten years, Fair Value | 46,358 | 51,896 |
Available-for-sale, MBS/CMO, Fair Value | 101,133 | 88,927 |
Available-for-sale, Fair Value | 198,170 | 194,101 |
Held-to-maturity, Due after five years through ten years, Amortized Cost | 186 | 217 |
Held-to-maturity, MBS/CMO, Amortized Cost | 201 | 291 |
Held-to-maturity, Amortized Cost | 387 | 508 |
Held-to-maturity, Due after five years through ten years, Fair Value | 186 | 217 |
Held-to-maturity, MBS/CMO, Fair Value | 207 | 299 |
Held-to-maturity, Fair Value | $393 | $516 |
Investment_Securities_Details_1
Investment Securities (Details 2) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | $78,465 | $950 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | -2,595 | -5 |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 957 | 1,474 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | -1,032 | -2,091 |
Available-for-sale securities, Total, Fair Value | 79,422 | 2,424 |
Available-for-sale securities, Total, Unrealized Loss | -3,627 | -2,096 |
Us Government Corporations and Agencies Securities [Member] | ' | ' |
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 4,921 | ' |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | -79 | ' |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | ' |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | ' |
Available-for-sale securities, Total, Fair Value | 4,921 | ' |
Available-for-sale securities, Total, Unrealized Loss | -79 | ' |
Residential Mortgage Backed Securities [Member] | ' | ' |
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 24,846 | 1 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | -841 | 0 |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | 0 |
Available-for-sale securities, Total, Fair Value | 24,846 | 1 |
Available-for-sale securities, Total, Unrealized Loss | -841 | 0 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 26,530 | ' |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | -763 | ' |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | ' |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | ' |
Available-for-sale securities, Total, Fair Value | 26,530 | ' |
Available-for-sale securities, Total, Unrealized Loss | -763 | ' |
Corporate Bond Securities [Member] | ' | ' |
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 2,959 | ' |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | -41 | ' |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 0 | ' |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | 0 | ' |
Available-for-sale securities, Total, Fair Value | 2,959 | ' |
Available-for-sale securities, Total, Unrealized Loss | -41 | ' |
Trust Preferred Securities and Preferred Stock [Member] | ' | ' |
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 0 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | 0 | 0 |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 582 | 1,474 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | -993 | -2,091 |
Available-for-sale securities, Total, Fair Value | 582 | 1,474 |
Available-for-sale securities, Total, Unrealized Loss | -993 | -2,091 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Available-for-sale securities, Duration of Unrealized Loss Position, Less than 12 Month, Fair Value | 19,209 | 949 |
Available-for-sale Securities, Duration of Unrealized Loss Position, Less than 12 Month, Gross Unrealized Loss | -871 | -5 |
Available-for-sale securities, Duration of Unrealized Loss Position, 12 Month or Longer, Fair Value | 375 | 0 |
Available-for-sale Securities, Duration of Unrealized Loss Position, 12 Month or Longer, Gross Unrealized Loss | -39 | 0 |
Available-for-sale securities, Total, Fair Value | 19,584 | 949 |
Available-for-sale securities, Total, Unrealized Loss | ($910) | ($5) |
Investment_Securities_Details_2
Investment Securities (Details 3) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | |
Amortized Cost | $3,229 | |
Fair Value | 2,236 | |
Unrealized Loss | 993 | |
OTTI Losses 2013 | 337 | |
Class B [Member] | TPREF Funding II [Member] | Moodys, Caa3 Rating [Member] | ' | |
Amortized Cost | 673 | |
Fair Value | 266 | |
Unrealized Loss | 407 | |
OTTI Losses 2013 | 0 | |
Current Number of Banks and Insurance Companies | 16 | |
Actual Deferrals and Defaults as a percentage of Current Collateral | 41.10% | |
Expected Deferrals andDefaults asa%of Remaining PerformingCollateral | 13.48% | |
ExcessSub-ordination asa%of Current Performing Collateral | 0.00% | |
Class B 01 [Member] | I Preferred Term Sec I [Member] | Fitch, CCC Rating [Member] | ' | |
Amortized Cost | 839 | |
Fair Value | 839 | |
Unrealized Loss | 0 | |
OTTI Losses 2013 | 161 | |
Current Number of Banks and Insurance Companies | 14 | |
Actual Deferrals and Defaults as a percentage of Current Collateral | 17.24% | |
Expected Deferrals andDefaults asa%of Remaining PerformingCollateral | 11.72% | [1] |
ExcessSub-ordination asa%of Current Performing Collateral | 23.61% | |
Class C 01 [Member] | Preferred Term Sec XXVII [Member] | Moodys, C Rating [Member] | ' | |
Amortized Cost | 902 | |
Fair Value | 316 | |
Unrealized Loss | 586 | |
OTTI Losses 2013 | 0 | |
Current Number of Banks and Insurance Companies | 32 | |
Actual Deferrals and Defaults as a percentage of Current Collateral | 26.18% | |
Expected Deferrals andDefaults asa%of Remaining PerformingCollateral | 18.29% | |
ExcessSub-ordination asa%of Current Performing Collateral | 6.39% | |
Class C 01 [Member] | Dekania II CDO [Member] | Fitch, CCC Rating [Member] | ' | |
Amortized Cost | 815 | |
Fair Value | 815 | |
Unrealized Loss | 0 | |
OTTI Losses 2013 | $176 | |
Current Number of Banks and Insurance Companies | 30 | |
Actual Deferrals and Defaults as a percentage of Current Collateral | 0.00% | |
Expected Deferrals andDefaults asa%of Remaining PerformingCollateral | 13.16% | [1] |
ExcessSub-ordination asa%of Current Performing Collateral | 26.03% | |
[1] | Assumption not applicable as Level 1 pricing was utilized at December 31, 2013. |
Investment_Securities_Details_3
Investment Securities (Details 4) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Amount of OTTI related to credit loss Beginning Balance | $3,176 | $3,251 | $3,249 |
Additions for amounts related to credit loss for which an OTTI was not previously recognized | 337 | 0 | 0 |
Reductions for amounts realized for securities sold/redeemed during the period | 0 | -80 | 0 |
Reductions for amounts related to securities for which the Company intends to sell or that it will be more likely than not that the Company will be required to sell prior to recovery of amortized cost basis | 0 | 0 | 0 |
Reductions for increase in cash flows expected to be collected that are Recognized over the remaining life of the security | 0 | 0 | 0 |
Increases to the amount related to the credit loss for which Other-than-temporary was previously recognized | 0 | 5 | 2 |
Amount of OTTI related to credit loss Ending Balance | $3,513 | $3,176 | $3,251 |
Investment_Securities_Details_4
Investment Securities (Details 5) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Proceeds | $4,027 | $72,262 | $8,719 |
Gross realized gains | 97 | 2,163 | 218 |
Gross realized losses | $0 | ($24) | $0 |
Investment_Securities_Details_5
Investment Securities (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Security Owned and Pledged as Collateral Carrying Value | $132,700,000 | $135,000,000 | ' |
Investment Portfolio, Number of Securities | 337 | ' | ' |
Investment Portfolio, Number of Securities, Unrealized Loss | 88 | ' | ' |
Realized Investment Gains (Losses) | 97,000 | 2,100,000 | 218,000 |
Realized Investment Gains Losses, Net of Tax | 68,000 | 1,400,000 | 142,000 |
Deferred Collateral Assumed Recovery Rate for Banks | 10.00% | ' | ' |
Deferred Collateral Assumed Recovery Rate for Insurance Companies | 15.00% | ' | ' |
Debt Instrument Debt Default, Percentage | 26.20% | 27.90% | ' |
Investment Portfolio Single Security | 10.00% | ' | ' |
Collateralized Debt Obligations [Member] | ' | ' | ' |
Other Comprehensive Income (Loss), before Tax | 645,000 | 749,000 | ' |
Four Collateralized Debt Obligations [Member] | ' | ' | ' |
Collateralized Debt Obligations, Recognized Other than Temporary Impairment | 3,200,000 | ' | ' |
One Collateralized Debt Obligations [Member] | ' | ' | ' |
Other Than Temporary Impairment Write Down Of Debt Obligations Gross | 337,000 | 4,500 | 2,200 |
Other Than Temporary Impairment Write Down Of Debt Obligations Net | 219,000 | 2,900 | 1,400 |
Two Collateralized Debt Obligations [Member] | ' | ' | ' |
Collateralized Debt Obligations, Paying Principal and Interest | 1,700,000 | ' | ' |
Collateralized Debt Obligations, Recognized Under Other than Temporary Impairment, Recognized Prior Period | $1,500,000 | ' | ' |
Commitments_and_Contingent_Lia2
Commitments and Contingent Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fixed Rate, Commitments to make loans | $57,914 | $50,205 |
Fixed Rate, Unused lines of credit | 18,047 | 21,975 |
Fixed Rate, Standby letters of credit | 0 | 0 |
Fixed Rate, Total | 75,962 | 72,180 |
Variable Rate, Commitments to make loans | 59,632 | 48,035 |
Variable Rate, Unused lines of credit | 257,939 | 228,269 |
Variable Rate, Standby letters of credit | 17,680 | 18,166 |
Variable Rate, Total | $335,251 | $294,470 |
Commitments_and_Contingent_Lia3
Commitments and Contingent Liabilities (Details Textual) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Line of Credit Facility, Period | '60 days or less |
Commitments and Loans, Available to Sell | $12.10 |
Loan Commitments Maturities Range Description | 'less than 1 year to 30 years |
Maximum [Member] | ' |
Loan Commitments Interest Rate | 18.00% |
Minimum [Member] | ' |
Loan Commitments Interest Rate | 2.00% |
Loans_Details
Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Real Estate: | ' | ' | ' | ' |
Real Estate | $1,101,428 | $1,035,999 | ' | ' |
Other Loans: | ' | ' | ' | ' |
Other Loans | 512,068 | 508,471 | ' | ' |
Total loans | 1,613,496 | 1,544,470 | ' | ' |
Deduct: | ' | ' | ' | ' |
Undisbursed loan funds | -32,290 | -18,478 | ' | ' |
Net deferred loan origination fees and costs | -758 | -735 | ' | ' |
Allowance for loan loss | -24,950 | -26,711 | -33,254 | -41,080 |
Totals | 1,555,498 | 1,498,546 | ' | ' |
One to Four Family Residential Real Estate [Member] | ' | ' | ' | ' |
Real Estate: | ' | ' | ' | ' |
Real Estate | 195,752 | 200,826 | ' | ' |
Multi Family Residential [Member] | ' | ' | ' | ' |
Real Estate: | ' | ' | ' | ' |
Real Estate | 148,952 | 122,275 | ' | ' |
Commercial Real Estate [Member] | ' | ' | ' | ' |
Real Estate: | ' | ' | ' | ' |
Real Estate | 670,666 | 675,110 | ' | ' |
Construction Loans [Member] | ' | ' | ' | ' |
Real Estate: | ' | ' | ' | ' |
Real Estate | 86,058 | 37,788 | ' | ' |
Commercial Loan [Member] | ' | ' | ' | ' |
Other Loans: | ' | ' | ' | ' |
Other Loans | 388,236 | 383,817 | ' | ' |
Home Equity and Home Improvement [Member] | ' | ' | ' | ' |
Other Loans: | ' | ' | ' | ' |
Other Loans | 106,930 | 108,718 | ' | ' |
Consumer Loan [Member] | ' | ' | ' | ' |
Other Loans: | ' | ' | ' | ' |
Other Loans | $16,902 | $15,936 | ' | ' |
Loans_Details_1
Loans (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning Allowance | $26,711 | $33,254 | $41,080 |
Charge-Offs | -5,199 | -19,179 | -21,448 |
Recoveries | 1,614 | 1,712 | 1,188 |
Provisions | 1,824 | 10,924 | 12,434 |
Ending Allowance | 24,950 | 26,711 | 33,254 |
One to Four Family Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning Allowance | 3,506 | 4,095 | 5,956 |
Charge-Offs | -643 | -2,515 | -2,753 |
Recoveries | 282 | 177 | 127 |
Provisions | -298 | 1,749 | 765 |
Ending Allowance | 2,847 | 3,506 | 4,095 |
Multi Family Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning Allowance | 2,197 | 2,850 | 2,147 |
Charge-Offs | -6 | -555 | -792 |
Recoveries | 0 | 122 | 0 |
Provisions | 317 | -220 | 1,495 |
Ending Allowance | 2,508 | 2,197 | 2,850 |
Commercial Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning Allowance | 12,702 | 17,640 | 20,208 |
Charge-Offs | -2,469 | -10,764 | -12,358 |
Recoveries | 837 | 895 | 533 |
Provisions | 930 | 4,931 | 9,257 |
Ending Allowance | 12,000 | 12,702 | 17,640 |
Construction Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning Allowance | 75 | 63 | 73 |
Charge-Offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provisions | 59 | 12 | -10 |
Ending Allowance | 134 | 75 | 63 |
Commercial Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning Allowance | 6,325 | 6,576 | 10,871 |
Charge-Offs | -1,230 | -4,047 | -4,398 |
Recoveries | 290 | 359 | 393 |
Provisions | 293 | 3,437 | -290 |
Ending Allowance | 5,678 | 6,325 | 6,576 |
Home Equity and Home Improvement [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning Allowance | 1,759 | 1,856 | 1,528 |
Charge-Offs | -757 | -1,165 | -1,052 |
Recoveries | 125 | 95 | 65 |
Provisions | 508 | 973 | 1,315 |
Ending Allowance | 1,635 | 1,759 | 1,856 |
Consumer Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning Allowance | 147 | 174 | 297 |
Charge-Offs | -94 | -133 | -95 |
Recoveries | 80 | 64 | 70 |
Provisions | 15 | 42 | -98 |
Ending Allowance | $148 | $147 | $174 |
Loans_Details_2
Loans (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | $1,392 | $1,491 |
Collectively evaluated for impairment | 23,558 | 25,220 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 24,950 | 26,711 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 57,441 | 71,286 |
Loans collectively evaluated for impairment | 1,527,848 | 1,458,300 |
Loans acquired with deteriorated credit quality | 230 | 504 |
Total ending loans balance | 1,585,519 | 1,530,090 |
One to Four Family Residential Real Estate [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 220 | 281 |
Collectively evaluated for impairment | 2,627 | 3,225 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,847 | 3,506 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 10,245 | 11,930 |
Loans collectively evaluated for impairment | 185,923 | 189,348 |
Loans acquired with deteriorated credit quality | 29 | 36 |
Total ending loans balance | 196,197 | 201,314 |
Multi Family Residential Real Estate [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 2,508 | 2,197 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 2,508 | 2,197 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 840 | 1,626 |
Loans collectively evaluated for impairment | 148,294 | 120,829 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 149,134 | 122,455 |
Commercial Real Estate [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 1,121 | 1,070 |
Collectively evaluated for impairment | 10,879 | 11,632 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 12,000 | 12,702 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 34,874 | 46,053 |
Loans collectively evaluated for impairment | 637,657 | 630,534 |
Loans acquired with deteriorated credit quality | 174 | 436 |
Total ending loans balance | 672,705 | 677,023 |
Commercial Loan [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 134 | 75 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 134 | 75 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 263 | 45 |
Loans collectively evaluated for impairment | 53,467 | 19,251 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 53,730 | 19,296 |
Construction Loans [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 6 | 138 |
Collectively evaluated for impairment | 5,672 | 6,187 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 5,678 | 6,325 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 8,737 | 8,830 |
Loans collectively evaluated for impairment | 380,711 | 376,007 |
Loans acquired with deteriorated credit quality | 27 | 32 |
Total ending loans balance | 389,475 | 384,869 |
Home Equity and Home Improvement [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 45 | 2 |
Collectively evaluated for impairment | 1,590 | 1,757 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 1,635 | 1,759 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 2,429 | 2,678 |
Loans collectively evaluated for impairment | 104,958 | 106,516 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | 107,387 | 109,194 |
Consumer Loan [Member] | ' | ' |
Ending allowance balance attributable to loans: | ' | ' |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 148 | 147 |
Acquired with deteriorated credit quality | 0 | 0 |
Total ending allowance balance | 148 | 147 |
Loans: | ' | ' |
Loans individually evaluated for impairment | 53 | 124 |
Loans collectively evaluated for impairment | 16,838 | 15,815 |
Loans acquired with deteriorated credit quality | 0 | 0 |
Total ending loans balance | $16,891 | $15,939 |
Loans_Details_3
Loans (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | $65,444 | $53,344 | $60,999 |
Interest Income Recognized | 2,125 | 1,257 | 1,701 |
Cash Basis Income Recognized | 2,120 | 1,262 | 1,613 |
Residential Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 6,529 | 2,946 | 2,689 |
Interest Income Recognized | 345 | 137 | 68 |
Cash Basis Income Recognized | 343 | 136 | 67 |
Residential Non Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 4,453 | 5,291 | 2,646 |
Interest Income Recognized | 162 | 173 | 85 |
Cash Basis Income Recognized | 163 | 177 | 87 |
One To Four Family Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 10,982 | 8,237 | 5,335 |
Interest Income Recognized | 507 | 310 | 153 |
Cash Basis Income Recognized | 506 | 313 | 154 |
Multi Family Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 1,176 | 826 | 2,097 |
Interest Income Recognized | 27 | 22 | 88 |
Cash Basis Income Recognized | 28 | 21 | 83 |
Commercial Real Estate Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 14,313 | 11,755 | 10,631 |
Interest Income Recognized | 376 | 190 | 302 |
Cash Basis Income Recognized | 386 | 176 | 282 |
Commercial Real Estate Non Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 22,339 | 17,156 | 19,351 |
Interest Income Recognized | 901 | 540 | 777 |
Cash Basis Income Recognized | 909 | 559 | 724 |
Agriculture Land [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 987 | 1,062 | 1,932 |
Interest Income Recognized | 26 | 31 | 47 |
Cash Basis Income Recognized | 16 | 23 | 47 |
Commercial Real Estate Other Receivable [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 4,162 | 6,672 | 7,952 |
Interest Income Recognized | 43 | 15 | 54 |
Cash Basis Income Recognized | 38 | 15 | 43 |
Commercial Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 41,801 | 36,645 | 39,866 |
Interest Income Recognized | 1,346 | 776 | 1,180 |
Cash Basis Income Recognized | 1,349 | 773 | 1,096 |
Commercial Working Capital [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 2,085 | 2,021 | 3,758 |
Interest Income Recognized | 33 | 26 | 74 |
Cash Basis Income Recognized | 36 | 29 | 77 |
Commercial Loans Other [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 6,521 | 5,018 | 9,660 |
Interest Income Recognized | 75 | 87 | 194 |
Cash Basis Income Recognized | 70 | 90 | 191 |
Commercial Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 8,606 | 7,039 | 13,418 |
Interest Income Recognized | 108 | 113 | 268 |
Cash Basis Income Recognized | 106 | 119 | 268 |
Construction Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 165 | 9 | 25 |
Interest Income Recognized | 10 | 0 | 0 |
Cash Basis Income Recognized | 8 | 0 | 0 |
Consumer Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 83 | 25 | 0 |
Interest Income Recognized | 6 | 3 | 0 |
Cash Basis Income Recognized | 6 | 3 | 0 |
Home Equity and Home Improvement [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Average Balance | 2,631 | 563 | 258 |
Interest Income Recognized | 121 | 33 | 12 |
Cash Basis Income Recognized | $117 | $33 | $12 |
Loans_Details_4
Loans (Details 4) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | $46,532 | [1] | $55,832 | [1] |
Recorded Investment, With No Related Allowance | 39,823 | 45,524 | ||
Unpaid Principal Balance, With Related Allowance | 18,041 | [1] | 26,340 | [1] |
Recorded Investment, With Related Allowance | 17,618 | 25,762 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 1,392 | 1,491 | ||
Residential Owner Occupied [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 4,744 | [1] | 5,427 | [1] |
Recorded Investment, With No Related Allowance | 4,729 | 5,357 | ||
Unpaid Principal Balance, With Related Allowance | 1,100 | [1] | 1,697 | [1] |
Recorded Investment, With Related Allowance | 1,103 | 1,701 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 218 | 257 | ||
Residential Non Owner Occupied [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 4,844 | [1] | 4,211 | [1] |
Recorded Investment, With No Related Allowance | 4,329 | 3,420 | ||
Unpaid Principal Balance, With Related Allowance | 84 | [1] | 1,449 | [1] |
Recorded Investment, With Related Allowance | 84 | 1,452 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 2 | 24 | ||
One To Four Family Residential Real Estate [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 9,588 | [1] | 9,638 | [1] |
Recorded Investment, With No Related Allowance | 9,058 | 8,777 | ||
Unpaid Principal Balance, With Related Allowance | 1,184 | [1] | 3,146 | [1] |
Recorded Investment, With Related Allowance | 1,187 | 3,153 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 220 | 281 | ||
Multi Family Residential Real Estate [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 989 | [1] | 1,775 | [1] |
Recorded Investment, With No Related Allowance | 840 | 1,626 | ||
Unpaid Principal Balance, With Related Allowance | 0 | [1] | 0 | [1] |
Recorded Investment, With Related Allowance | 0 | 0 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 0 | 0 | ||
Commercial Real Estate Owner Occupied [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 11,105 | [1] | 12,314 | [1] |
Recorded Investment, With No Related Allowance | 8,376 | 9,782 | ||
Unpaid Principal Balance, With Related Allowance | 3,212 | [1] | 5,735 | [1] |
Recorded Investment, With Related Allowance | 2,765 | 5,118 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 166 | 245 | ||
Commercial Real Estate Non Owner Occupied [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 9,399 | [1] | 11,054 | [1] |
Recorded Investment, With No Related Allowance | 7,740 | 9,105 | ||
Unpaid Principal Balance, With Related Allowance | 12,756 | [1] | 15,301 | [1] |
Recorded Investment, With Related Allowance | 12,803 | 15,357 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 946 | 820 | ||
Agriculture Land [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 629 | [1] | 1,176 | [1] |
Recorded Investment, With No Related Allowance | 488 | 993 | ||
Unpaid Principal Balance, With Related Allowance | 195 | [1] | 111 | [1] |
Recorded Investment, With Related Allowance | 197 | 112 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 7 | 3 | ||
Commercial Real Estate Other Receivables [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 3,274 | [1] | 8,741 | [1] |
Recorded Investment, With No Related Allowance | 2,452 | 5,527 | ||
Unpaid Principal Balance, With Related Allowance | 82 | [1] | 88 | [1] |
Recorded Investment, With Related Allowance | 53 | 59 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 2 | 2 | ||
Commercial Real Estate [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 24,407 | [1] | 33,285 | [1] |
Recorded Investment, With No Related Allowance | 19,056 | 25,407 | ||
Unpaid Principal Balance, With Related Allowance | 16,245 | [1] | 21,235 | [1] |
Recorded Investment, With Related Allowance | 15,818 | 20,646 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 1,121 | 1,070 | ||
Commercial Working Capital [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 3,147 | [1] | 1,565 | [1] |
Recorded Investment, With No Related Allowance | 3,146 | 1,565 | ||
Unpaid Principal Balance, With Related Allowance | 0 | [1] | 300 | [1] |
Recorded Investment, With Related Allowance | 0 | 301 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 0 | 10 | ||
Commercial Loans Other [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 6,063 | [1] | 6,367 | [1] |
Recorded Investment, With No Related Allowance | 5,415 | 5,338 | ||
Unpaid Principal Balance, With Related Allowance | 176 | [1] | 1,623 | [1] |
Recorded Investment, With Related Allowance | 176 | 1,626 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 6 | 128 | ||
Commercial Loan [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 9,210 | [1] | 7,932 | [1] |
Recorded Investment, With No Related Allowance | 8,561 | 6,903 | ||
Unpaid Principal Balance, With Related Allowance | 176 | [1] | 1,923 | [1] |
Recorded Investment, With Related Allowance | 176 | 1,927 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 6 | 138 | ||
Consumer Loan [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 53 | [1] | 125 | [1] |
Recorded Investment, With No Related Allowance | 53 | 124 | ||
Unpaid Principal Balance, With Related Allowance | 0 | [1] | 0 | [1] |
Recorded Investment, With Related Allowance | 0 | 0 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 0 | 0 | ||
Home Equity and Home Improvement [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 1,985 | [1] | 2,777 | [1] |
Recorded Investment, With No Related Allowance | 1,992 | 2,642 | ||
Unpaid Principal Balance, With Related Allowance | 436 | [1] | 36 | [1] |
Recorded Investment, With Related Allowance | 437 | 36 | ||
Allowance for Loan Losses Allocated, With Related Allowance | 45 | 2 | ||
construction [Member] | ' | ' | ||
Impaired loans | ' | ' | ||
Unpaid Principal Balance, With No Related Allowance | 300 | [1] | 300 | [1] |
Recorded Investment, With No Related Allowance | 263 | 45 | ||
Unpaid Principal Balance, With Related Allowance | 0 | [1] | 0 | [1] |
Recorded Investment, With Related Allowance | 0 | 0 | ||
Allowance for Loan Losses Allocated, With Related Allowance | $0 | $0 | ||
[1] | Presented gross of charge offs |
Loans_Details_5
Loans (Details 5) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non-accrual loans | $27,847 | $32,570 |
Loans over 90 days past due and still accruing | 0 | 0 |
Total non-performing loans | 27,847 | 32,570 |
Real estate and other assets held for sale | 5,859 | 3,805 |
Total non-performing assets | 33,706 | 36,375 |
Troubled debt restructuring, still accruing | $27,630 | $28,203 |
Loans_Details_6
Loans (Details 6) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | $1,566,791 | $1,505,902 |
30-59 days | 4,814 | 6,245 |
60-89 days | 2,188 | 4,928 |
90+ days | 11,726 | 13,015 |
Total Past Due | 18,728 | 24,188 |
Total Non Accrual | 27,855 | 32,557 |
Residential Owner Occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 126,855 | 125,362 |
30-59 days | 1,530 | 1,238 |
60-89 days | 191 | 604 |
90+ days | 1,009 | 945 |
Total Past Due | 2,730 | 2,787 |
Total Non Accrual | 1,329 | 1,125 |
Residential Non Owner Occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 65,292 | 71,777 |
30-59 days | 531 | 413 |
60-89 days | 403 | 126 |
90+ days | 386 | 849 |
Total Past Due | 1,320 | 1,388 |
Total Non Accrual | 1,943 | 2,473 |
One To Four Family Residential Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 192,147 | 197,139 |
30-59 days | 2,061 | 1,651 |
60-89 days | 594 | 730 |
90+ days | 1,395 | 1,794 |
Total Past Due | 4,050 | 4,175 |
Total Non Accrual | 3,272 | 3,598 |
Multi Family Residential Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 149,134 | 122,455 |
30-59 days | 0 | 0 |
60-89 days | 0 | 0 |
90+ days | 0 | 0 |
Total Past Due | 0 | 0 |
Total Non Accrual | 583 | 1,178 |
Commercial Real Estate Owner Occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 311,253 | 321,071 |
30-59 days | 334 | 1,248 |
60-89 days | 495 | 382 |
90+ days | 3,671 | 1,622 |
Total Past Due | 4,500 | 3,252 |
Total Non Accrual | 7,492 | 9,652 |
Commercial Real Estate Non Owner Occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 225,433 | 235,592 |
30-59 days | 1,067 | 134 |
60-89 days | 918 | 1,321 |
90+ days | 902 | 2,480 |
Total Past Due | 2,887 | 3,935 |
Total Non Accrual | 4,717 | 6,674 |
Agriculture Land [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 81,954 | 72,092 |
30-59 days | 21 | 84 |
60-89 days | 0 | 31 |
90+ days | 73 | 0 |
Total Past Due | 94 | 115 |
Total Non Accrual | 630 | 813 |
Commercial Real Estate Other Receivable [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 45,297 | 36,510 |
30-59 days | 0 | 21 |
60-89 days | 0 | 875 |
90+ days | 1,287 | 3,560 |
Total Past Due | 1,287 | 4,456 |
Total Non Accrual | 2,412 | 4,761 |
Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 663,937 | 665,265 |
30-59 days | 1,422 | 1,487 |
60-89 days | 1,413 | 2,609 |
90+ days | 5,933 | 7,662 |
Total Past Due | 8,768 | 11,758 |
Total Non Accrual | 15,251 | 21,900 |
Commercial Working Capital [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 155,373 | 161,110 |
30-59 days | 0 | 0 |
60-89 days | 0 | 155 |
90+ days | 419 | 1,204 |
Total Past Due | 419 | 1,359 |
Total Non Accrual | 2,917 | 1,528 |
Commercial Loans Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 230,054 | 218,477 |
30-59 days | 37 | 584 |
60-89 days | 26 | 1,201 |
90+ days | 3,566 | 2,138 |
Total Past Due | 3,629 | 3,923 |
Total Non Accrual | 5,419 | 4,136 |
Commercial Loan [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 385,427 | 379,587 |
30-59 days | 37 | 584 |
60-89 days | 26 | 1,356 |
90+ days | 3,985 | 3,342 |
Total Past Due | 4,048 | 5,282 |
Total Non Accrual | 8,336 | 5,664 |
Consumer Loan [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 16,759 | 15,702 |
30-59 days | 131 | 229 |
60-89 days | ' | 8 |
90+ days | 0 | 0 |
Total Past Due | 131 | 237 |
Total Non Accrual | 0 | 0 |
Home Equity and Home Improvement [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 105,657 | 106,458 |
30-59 days | 1,163 | 2,294 |
60-89 days | 155 | 225 |
90+ days | 413 | 217 |
Total Past Due | 1,731 | 2,736 |
Total Non Accrual | 413 | 217 |
construction [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Current | 53,730 | 19,296 |
30-59 days | 0 | 0 |
60-89 days | 0 | 0 |
90+ days | 0 | 0 |
Total Past Due | 0 | 0 |
Total Non Accrual | $0 | $0 |
Loans_Details_7
Loans (Details 7) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numbers | Numbers | Numbers | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings, Number of Loans | ' | ' | 24 |
Troubled Debt Restructurings, Recorded Investment | ' | ' | $8,010 |
Troubled Debt Restructuring [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings, Number of Loans | 57 | 282 | ' |
Troubled Debt Restructurings, Recorded Investment | 6,084 | 29,035 | ' |
Troubled Debt Restructuring [Member] | One To Four Family Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings, Number of Loans | 10 | 87 | 4 |
Troubled Debt Restructurings, Recorded Investment | 752 | 6,052 | 250 |
Troubled Debt Restructuring [Member] | One To Four Family Non Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings, Number of Loans | 5 | 8 | 1 |
Troubled Debt Restructurings, Recorded Investment | 390 | 666 | 305 |
Troubled Debt Restructuring [Member] | Commercial Real Estate Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings, Number of Loans | 9 | 9 | 6 |
Troubled Debt Restructurings, Recorded Investment | 714 | 3,859 | 426 |
Troubled Debt Restructuring [Member] | Commercial Real Estate Non Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings, Number of Loans | 2 | 13 | 6 |
Troubled Debt Restructurings, Recorded Investment | 1,364 | 13,942 | 4,628 |
Troubled Debt Restructuring [Member] | Agriculture Land [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings, Number of Loans | 2 | 3 | 0 |
Troubled Debt Restructurings, Recorded Investment | 269 | 474 | 0 |
Troubled Debt Restructuring [Member] | Commercial Real Estate Other Receivable [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings, Number of Loans | 3 | 1 | 0 |
Troubled Debt Restructurings, Recorded Investment | 417 | 59 | 0 |
Troubled Debt Restructuring [Member] | Other Commercial Working Capital [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings, Number of Loans | 8 | 7 | 6 |
Troubled Debt Restructurings, Recorded Investment | 1,602 | 1,196 | 2,379 |
Troubled Debt Restructuring [Member] | Home Equity and Home Improvement [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings, Number of Loans | 15 | 127 | 1 |
Troubled Debt Restructurings, Recorded Investment | 561 | 2,663 | 22 |
Troubled Debt Restructuring [Member] | Consumer Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings, Number of Loans | 3 | 27 | 0 |
Troubled Debt Restructurings, Recorded Investment | $15 | $124 | $0 |
Loans_Details_8
Loans (Details 8) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numbers | Numbers | Numbers | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | ' | ' | 4 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | ' | ' | $1,754 |
Subsequently Defaulted [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 18 | 23 | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | 2,438 | 3,515 | ' |
Subsequently Defaulted [Member] | Residential Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 6 | 6 | 2 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | 409 | 462 | 206 |
Subsequently Defaulted [Member] | Residential Non Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 2 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | 0 | 203 | 0 |
Subsequently Defaulted [Member] | Commercial Real Estate Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 2 | 0 | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | 290 | 0 | 1,495 |
Subsequently Defaulted [Member] | Commercial Real Estate Non Owner Occupied [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 1 | 3 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | 212 | 555 | 0 |
Subsequently Defaulted [Member] | Agriculture Land [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | 0 | 0 | 0 |
Subsequently Defaulted [Member] | Commercial Real Estate Other Receivable [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 1 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | 323 | 0 | 0 |
Subsequently Defaulted [Member] | Commercial and Industrial [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 5 | 5 | 1 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | 889 | 2,129 | 53 |
Subsequently Defaulted [Member] | Home Equity and Home Improvement [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 3 | 7 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | 315 | 166 | 0 |
Subsequently Defaulted [Member] | Consumer Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Troubled Debt Restructurings That Subsequently Defaulted, Number of Loans | 0 | 0 | 0 |
Troubled Debt Restructurings That Subsequently Defaulted, Recorded Investment | $0 | $0 | $0 |
Loans_Details_9
Loans (Details 9) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | $1,585,519 | $1,530,090 |
Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 1,226,966 | 1,156,998 |
Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 37,700 | 33,406 |
Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 55,715 | 76,005 |
Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 45 | 298 |
Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 265,093 | 263,383 |
One To Four Family Owner Occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 129,585 | 128,149 |
One To Four Family Owner Occupied [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 4,287 | 4,221 |
One To Four Family Owner Occupied [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 18 | 75 |
One To Four Family Owner Occupied [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 3,515 | 3,617 |
One To Four Family Owner Occupied [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 234 |
One To Four Family Owner Occupied [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 121,765 | 120,002 |
One To Four Family Non Owner Occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 66,612 | 73,165 |
One To Four Family Non Owner Occupied [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 51,660 | 55,771 |
One To Four Family Non Owner Occupied [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 2,894 | 2,453 |
One To Four Family Non Owner Occupied [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 5,699 | 8,248 |
One To Four Family Non Owner Occupied [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
One To Four Family Non Owner Occupied [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 6,359 | 6,693 |
One To Four Family Residential Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 196,197 | 201,314 |
One To Four Family Residential Real Estate [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 55,947 | 59,992 |
One To Four Family Residential Real Estate [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 2,912 | 2,528 |
One To Four Family Residential Real Estate [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 9,214 | 11,865 |
One To Four Family Residential Real Estate [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 234 |
One To Four Family Residential Real Estate [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 128,124 | 126,695 |
Multi Family Residential Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 149,134 | 122,455 |
Multi Family Residential Real Estate [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 145,407 | 118,121 |
Multi Family Residential Real Estate [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 875 | 910 |
Multi Family Residential Real Estate [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 1,888 | 2,404 |
Multi Family Residential Real Estate [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Multi Family Residential Real Estate [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 964 | 1,020 |
Commercial Real Estate Owner Occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 315,753 | 324,323 |
Commercial Real Estate Owner Occupied [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 291,770 | 292,765 |
Commercial Real Estate Owner Occupied [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 10,584 | 10,440 |
Commercial Real Estate Owner Occupied [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 11,665 | 18,740 |
Commercial Real Estate Owner Occupied [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Owner Occupied [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 1,734 | 2,378 |
Commercial Real Estate Non Owner Occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 228,320 | 239,527 |
Commercial Real Estate Non Owner Occupied [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 200,790 | 207,745 |
Commercial Real Estate Non Owner Occupied [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 10,254 | 9,077 |
Commercial Real Estate Non Owner Occupied [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 17,185 | 22,615 |
Commercial Real Estate Non Owner Occupied [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Non Owner Occupied [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 91 | 90 |
Agriculture Land [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 82,047 | 72,207 |
Agriculture Land [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 80,418 | 69,924 |
Agriculture Land [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 578 | 769 |
Agriculture Land [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 1,051 | 1,514 |
Agriculture Land [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Agriculture Land [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 46,585 | 40,966 |
Commercial Real Estate Other Receivable [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 40,676 | 31,875 |
Commercial Real Estate Other Receivable [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 2,074 | 891 |
Commercial Real Estate Other Receivable [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 3,104 | 7,222 |
Commercial Real Estate Other Receivable [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Other Receivable [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 731 | 978 |
Commercial Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 672,705 | 677,023 |
Commercial Real Estate [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 613,654 | 602,309 |
Commercial Real Estate [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 23,490 | 21,177 |
Commercial Real Estate [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 33,005 | 50,091 |
Commercial Real Estate [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 2,556 | 3,446 |
Commercial Working Capital [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 155,792 | 162,469 |
Commercial Working Capital [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 148,703 | 156,433 |
Commercial Working Capital [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 3,429 | 3,587 |
Commercial Working Capital [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 3,660 | 2,449 |
Commercial Working Capital [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Commercial Working Capital [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Commercial Loans Other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 233,683 | 222,400 |
Commercial Loans Other [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 219,790 | 208,783 |
Commercial Loans Other [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 6,994 | 5,204 |
Commercial Loans Other [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 6,899 | 8,413 |
Commercial Loans Other [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Commercial Loans Other [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Commercial Loan [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 53,730 | 19,296 |
Commercial Loan [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 368,493 | 365,216 |
Commercial Loan [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 10,423 | 8,791 |
Commercial Loan [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 10,559 | 10,862 |
Commercial Loan [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Commercial Loan [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Construction Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 389,475 | 384,869 |
Home Equity and Home Improvement [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 107,387 | 109,194 |
Home Equity and Home Improvement [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Home Equity and Home Improvement [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Home Equity and Home Improvement [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 755 | 668 |
Home Equity and Home Improvement [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 45 | 64 |
Home Equity and Home Improvement [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 106,587 | 108,462 |
Consumer Loan [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 16,891 | 15,939 |
Consumer Loan [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Consumer Loan [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Consumer Loan [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 31 | 70 |
Consumer Loan [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
Consumer Loan [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 16,860 | 15,869 |
construction [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 53,730 | 19,296 |
construction [Member] | Pass [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 43,465 | 11,360 |
construction [Member] | Special Mention [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
construction [Member] | Substandard [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 263 | 45 |
construction [Member] | Doubtful [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | 0 | 0 |
construction [Member] | Not Graded [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Financing Receivable, Net | $10,002 | $7,891 |
Loans_Details_10
Loans (Details 10) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance Contractual Amount Receivable | ' | ' | ' | $1,544,470 | ' | ' | ' | ' | $1,544,470 | ' | ' |
Ending Balance Contractual Amount Receivable | 1,613,496 | ' | ' | ' | 1,544,470 | ' | ' | ' | 1,613,496 | 1,544,470 | ' |
Additional provision for loan loss Recorded Loan Receivable | 475 | 476 | 448 | 425 | 2,619 | 705 | 4,097 | 3,503 | 1,824 | 10,924 | 12,434 |
Loans and Debt Securities Acquired With Deteriorated Credit Quality [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance Contractual Amount Receivable | ' | ' | ' | 855 | ' | ' | ' | 2,206 | 855 | 2,206 | 3,482 |
Principal payments received Contractual Amount Receivable | ' | ' | ' | ' | ' | ' | ' | ' | -108 | -697 | -413 |
Loans charged off Contractual Amount Receivable | ' | ' | ' | ' | ' | ' | ' | ' | -41 | -487 | -250 |
Additional provision for loan loss Contractual Amount Receivable | ' | ' | ' | ' | ' | ' | ' | ' | -203 | -167 | -613 |
Loan accretion recorded Contractual Amount Receivable | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Ending Balance Contractual Amount Receivable | 503 | ' | ' | ' | 855 | ' | ' | ' | 503 | 855 | 2,206 |
Beginning Balance Impairment Discount | ' | ' | ' | 343 | ' | ' | ' | 1,003 | 343 | 1,003 | 1,286 |
Principal payments received Impairment Discount | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loans charged off Impairment Discount | ' | ' | ' | ' | ' | ' | ' | ' | -41 | -487 | -250 |
Additional provision for loan loss Impairment Discount | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loan accretion recorded Impairment Discount | ' | ' | ' | ' | ' | ' | ' | ' | -29 | -173 | -33 |
Ending Balance Impairment Discount | 273 | ' | ' | ' | 343 | ' | ' | ' | 273 | 343 | 1,003 |
Beginning Balance Recorded Loan Receivable | ' | ' | ' | 512 | ' | ' | ' | 1,203 | 512 | 1,203 | 2,196 |
Principal payments received Recorded Loan Receivable | ' | ' | ' | ' | ' | ' | ' | ' | -108 | -697 | -413 |
Loans charged off Recorded Loan Receivable | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Additional provision for loan loss Recorded Loan Receivable | ' | ' | ' | ' | ' | ' | ' | ' | -203 | -167 | -613 |
Loan accretion recorded Recorded Loan Receivable | ' | ' | ' | ' | ' | ' | ' | ' | 29 | 173 | 33 |
Ending Balance Recorded Loan Receivable | $230 | ' | ' | ' | $512 | ' | ' | ' | $230 | $512 | $1,203 |
Loans_Details_11
Loans (Details 11) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | $3,489 | $4,775 |
New loans | 8,874 | 5,036 |
Effect of changes in composition of related parties | 0 | -878 |
Repayments | -8,651 | -5,444 |
Ending Balance | $3,712 | $3,489 |
Loans_Details_Textual
Loans (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Financing Receivable, Allowance for Credit Losses, Period Increase (Increase) | $27,000 | $1,200,000 | $479,000 |
Troubled Debt Restructuring [Member] | ' | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 33,400,000 | 35,500,000 | ' |
Specified Reserves, Provision for Troubled Debt Restructurings | 1,200,000 | 1,100,000 | ' |
Loans and Leases Receivable, Impaired, Commitment to Lend | 300,000 | 41,000 | ' |
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 5,700,000 | ' | ' |
Troubled Debt Restructuring [Member] | Subsequently Defaulted [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses, Period Increase (Increase) | 21,000 | 631,000 | 29,000 |
Loan And Lease Losses Charged Off | $58,000 | $1,500,000 | $500,000 |
Mortgage_Banking_Details
Mortgage Banking (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Gain from sale of mortgage loans | $5,716 | $10,599 | $5,607 |
Mortgage loan servicing revenue (expense): | ' | ' | ' |
Mortgage loan servicing revenue | 3,564 | 3,387 | 3,403 |
Amortization of mortgage servicing rights | -2,098 | -3,562 | -2,169 |
Mortgage servicing rights valuation adjustments | 1,261 | -759 | -404 |
Mortgage loans servicing revenue (expense), Total | 2,727 | -934 | 830 |
Net revenue from sale and servicing of mortgage loans | $8,443 | $9,665 | $6,437 |
Mortgage_Banking_Details_1
Mortgage Banking (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Mortgage servicing assets: | ' | ' | ' |
Balance at beginning of period | $10,121 | $10,219 | $10,602 |
Loans sold, servicing retained | 2,110 | 3,464 | 1,786 |
Amortization | -2,098 | -3,562 | -2,169 |
Carrying value before valuation allowance at end of period | 10,133 | 10,121 | 10,219 |
Valuation allowance: | ' | ' | ' |
Balance at beginning of period | -2,288 | -1,529 | -1,125 |
Impairment recovery (charges) | 1,261 | -759 | -404 |
Balance at end of period | -1,027 | -2,288 | -1,529 |
Net carrying value of MSRs at end of period | 9,106 | 7,833 | 8,690 |
Fair value of MSRs at end of period | $9,686 | $7,833 | $8,690 |
Mortgage_Banking_Details_2
Mortgage Banking (Details 2) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Numbers | Numbers | |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ' | ' |
Mortgage Loans On Banking Number Of Loans | 14,319 | 13,927 |
Investor, Principal Outstanding | $1,371,241 | $1,328,717 |
Fannie Mae [Member] | ' | ' |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ' | ' |
Mortgage Loans On Banking Number Of Loans | 5,304 | 5,190 |
Investor, Principal Outstanding | 527,666 | 522,978 |
Freddie Mac [Member] | ' | ' |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ' | ' |
Mortgage Loans On Banking Number Of Loans | 8,873 | 8,550 |
Investor, Principal Outstanding | 829,594 | 786,124 |
Federal Home Loan Bank Borrowings [Member] | ' | ' |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ' | ' |
Mortgage Loans On Banking Number Of Loans | 116 | 166 |
Investor, Principal Outstanding | 12,093 | 18,330 |
Other Mortgage Banking [Member] | ' | ' |
Compliance with Regulatory Capital Requirements for Mortgage Companies [Line Items] | ' | ' |
Mortgage Loans On Banking Number Of Loans | 26 | 21 |
Investor, Principal Outstanding | $1,888 | $1,285 |
Mortgage_Banking_Details_3
Mortgage Banking (Details 3) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
10% Adverse Change [Member] | ' |
Assumption [Abstract] | ' |
Decline in fair value from increase in prepayment rate | $454 |
Declines in fair value from increase in discount rate | 318 |
20% Adverse Change [Member] | ' |
Assumption [Abstract] | ' |
Decline in fair value from increase in prepayment rate | 861 |
Declines in fair value from increase in discount rate | $725 |
Mortgage_Banking_Details_Textu
Mortgage Banking (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Residential Mortgage Loans, Unpaid Balance | $1,400,000,000 | $1,300,000,000 |
Escrow Deposit | $10,400,000 | $9,700,000 |
Weighted Average Prepayment Rate | '212 prepayment speed assumption (PSA) | '328 PSA |
Weighted Average Discount Rate | 10.04% | 10.04% |
Adverse Changes In Fair Value One | 10.00% | ' |
Adverse Changes In Fair Value Two | 20.00% | ' |
Premises_and_Equipment_Details
Premises and Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cost: | ' | ' |
Land | $7,960 | $7,376 |
Land improvements | 1,310 | 1,310 |
Buildings | 39,716 | 39,691 |
Leasehold improvements | 469 | 435 |
Furniture, fixtures and equipment | 28,654 | 27,596 |
Construction in process | 514 | 262 |
Property, Plant and Equipment, Gross | 78,623 | 76,670 |
Less allowances for depreciation and amortization | 40,026 | 37,007 |
Property, Plant and Equipment, Net | $38,597 | $39,663 |
Premises_and_Equipment_Details1
Premises and Equipment (Details 1) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Property, Plant and Equipment [Line Items] | ' |
2014 | $706 |
2015 | 613 |
2016 | 601 |
2017 | 512 |
2018 | 471 |
Thereafter | 4,745 |
Total | $7,648 |
Premises_and_Equipment_Details2
Premises and Equipment (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation | $3,110,000 | $3,416,000 | $3,436,000 |
Operating Leases, Rent Expense, Net | $723,000 | $1,200,000 | $669,000 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Beginning balance | $61,525 | $61,525 |
Goodwill acquired or adjusted during the year | 0 | 0 |
Ending balance | $61,525 | $61,525 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Indefinite-lived Intangible Assets [Line Items] | ' | ' | ' |
Begnning Balance, Gross Carrying Amount | $14,302 | $14,302 | $12,837 |
Intangible assets acquired, Gross Carrying Amount | ' | ' | 1,465 |
Amortization of intangible assets, Gross Carrying Amount | 0 | 0 | 0 |
Ending Balance, Gross Carrying Amount | 14,302 | 14,302 | 14,302 |
Beginning Balance, Accumulated Amortization | -9,564 | -8,151 | -6,709 |
Intangible assets acquired, Accumulated Amortization | ' | ' | 0 |
Amortization of intangible assets, Accumulated Amortization | -1,241 | -1,413 | -1,442 |
Ending Balance, Accumulated Amortization | -10,805 | -9,564 | -8,151 |
Beginning Balance, Net Value | 4,738 | 6,151 | 6,128 |
Intangible assets acquired, Net Value | ' | ' | 1,465 |
Amortization of Intangible Assets | -1,241 | -1,413 | -1,442 |
Ending Balance, Net Value | $3,497 | $4,738 | $6,151 |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Indefinite-lived Intangible Assets [Line Items] | ' | ' | ' | ' |
2014 | $1,102 | ' | ' | ' |
2015 | 687 | ' | ' | ' |
2016 | 501 | ' | ' | ' |
2017 | 372 | ' | ' | ' |
2018 | 301 | ' | ' | ' |
Thereafter | 534 | ' | ' | ' |
Total | $3,497 | $4,738 | $6,151 | $6,128 |
Deposits_Details
Deposits (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deposits [Line Items] | ' | ' | ' |
Checking and money market accounts | $1,125 | $1,368 | $2,144 |
Savings accounts | 90 | 116 | 249 |
Certificates of deposit | 4,698 | 6,685 | 9,782 |
Totals | $5,913 | $8,169 | $12,175 |
Deposits_Details_1
Deposits (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deposits [Line Items] | ' | ' |
Non-interest bearing checking accounts | $348,943 | $315,132 |
Interest bearing checking and money market accounts | 715,939 | 664,857 |
Savings deposits | 185,121 | 166,945 |
Retail certificates of deposit less than $100,000 | 313,335 | 342,472 |
Retail certificates of deposit greater than $100,000 | 172,454 | 176,029 |
Brokered or national certificates of deposit | 0 | 2,037 |
Total | $1,735,792 | $1,667,472 |
Deposits_Details_2
Deposits (Details 2) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Deposits [Line Items] | ' |
2014 | $296,186 |
2015 | 87,059 |
2016 | 51,784 |
2017 | 8,980 |
2018 | 41,631 |
2019 and thereafter | 149 |
Total | $485,789 |
Deposits_Details_Textual
Deposits (Details Textual) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Deposit [Line Items] | ' | ' |
Accounts Payable | $48,000 | $71,000 |
Certificates of Deposit, at Carrying Value | 34,000 | 58,000 |
Money Market Funds, at Carrying Value | 14,000 | 13,000 |
Time Deposits 100000 Or More | 172,454,000 | 176,029,000 |
Trading Securities Pledged as Collateral | 54,100,000 | 57,500,000 |
Federal Deposit Insurance Corporation Insurance Limit In Excess Of Reported Amount | 100,000 | 100,000 |
Additional [Member] | ' | ' |
Deposit [Line Items] | ' | ' |
Trading Securities Pledged as Collateral | 78,500,000 | 77,500,000 |
Federal Deposit Insurance Corporation Insurance Limit In Excess Of Reported Amount | 100,000 | 100,000 |
Certificates of Deposit [Member] | ' | ' |
Deposit [Line Items] | ' | ' |
Time Deposits 100000 Or More | 823,700,000 | 749,200,000 |
Federal Deposit Insurance Corporation Insurance Limit In Excess Of Reported Amount | 100,000 | 100,000 |
FDIC Insurance Limit [Member] | ' | ' |
Deposit [Line Items] | ' | ' |
Time Deposits, 250000 Or More | 393,000,000 | 387,000,000 |
Federal Deposit Insurance Corporation Insurance Limit In Excess Of Reported Amount | $250,000 | $250,000 |
Advances_from_Federal_Home_Loa2
Advances from Federal Home Loan Bank (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Putable advances | $12,000 | $12,000 |
Amortizable mortgage advances | 10,520 | 796 |
Totals | $22,520 | $12,796 |
January 2015 To March 2018 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 2.72% | 2.72% |
December 2015 to September 2018 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 1.95% | ' |
December 2015 [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | ' | 4.10% |
Advances_from_Federal_Home_Loa3
Advances from Federal Home Loan Bank (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Future Minimum Lease Payments For Capital Leases [Line Items] | ' | ' |
2014 | $1,502 | ' |
2015 | 8,944 | ' |
2016 | 1,212 | ' |
2017 | 1,212 | ' |
2018 | 11,065 | ' |
Total minimum payments | 23,935 | ' |
Less amounts representing interest | 1,415 | ' |
Totals | $22,520 | $12,796 |
Advances_from_Federal_Home_Loa4
Advances from Federal Home Loan Bank (Details Textual) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Percentage Of Borrowings Limited To Assets | 50.00% | ' |
Pledged Assets Separately Reported, Loans Pledged as Collateral, at Fair Value, Total | $676.60 | $666.50 |
Proceeds From First Federal Home Loan Bank Advances | 428.7 | ' |
Securities Investment [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Percentage Of Advances Secured Collateral Pledged | 105.00% | ' |
Residential Mortgage [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Percentage Of Advances Secured Collateral Pledged | 125.00% | ' |
Multi Family or Non Residential Real Estate Loans, and Agriculture Real Estate Loans [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Percentage Of Advances Secured Collateral Pledged | 300.00% | ' |
One to Four Family Residential Mortgages or Investment Securities [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Percentage Of Secured Borrowings | 50.00% | ' |
Cash Management Advance [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Line of Credit, Current | 15 | ' |
Repo Advance [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Line of Credit, Current | ' | $100 |
Junior_Subordinated_Debentures2
Junior Subordinated Debentures Owed to Unconsolidated Subsidiary Trust (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debentures owed to unconsolidated subsidiary trusts | $36,083 | $36,083 |
First Defiance Statutory Trusts I [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debentures owed to unconsolidated subsidiary trusts | 20,619 | 20,619 |
First Defiance Statutory Trusts II [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Junior subordinated debentures owed to unconsolidated subsidiary trusts | $15,464 | $15,464 |
Junior_Subordinated_Debentures3
Junior Subordinated Debentures Owed to Unconsolidated Subsidiary Trust (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Mar. 27, 2007 | Dec. 31, 2013 | Dec. 31, 2012 |
First Defiance Statutory Trusts I [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Proceeds from Issuance of Trust Preferred Securities | ' | $20 | ' |
Proceeds from Issuance of Subordinated Long-term Debt | ' | 20.6 | ' |
Preferred Securities Variable Interest Rate | 'LIBOR rate plus 1.38% | ' | ' |
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Description | ' | 'The Trust Preferred Securities and Junior Debentures mature December 15, 2035 but may be redeemed by the issuer at par after October 28, 2010. | ' |
Coupon Rate On Preferred Securities, Period End | ' | 1.63% | 1.77% |
First Defiance Statutory Trusts II [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Proceeds from Issuance of Trust Preferred Securities | 15 | ' | ' |
Proceeds from Issuance of Subordinated Long-term Debt | 15.5 | ' | ' |
Preferred Securities Variable Interest Rate | 'LIBOR rate plus 1.5% | ' | ' |
Financial Instruments Subject to Mandatory Redemption, Settlement Terms, Description | ' | 'The Trust Preferred Securities and Subordinated Debentures mature on June 15, 2037, but may be redeemed at the Company's option at any time on or after June 15, 2012, or at any time upon certain events. | ' |
Coupon Rate On Preferred Securities, Period End | ' | 1.75% | 1.89% |
Notes_Payable_and_Other_Shortt2
Notes Payable and Other Short-term Borrowings (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Securities sold under agreement to repurchase | ' | ' |
Amounts outstanding at year-end | $51,919 | $51,702 |
Year-end interest rate | 0.31% | 0.63% |
Average daily balance during year | 50,877 | 53,171 |
Maximum month-end balance during the year | $57,182 | $57,050 |
Average interest rate during the year | 0.44% | 0.70% |
Notes_Payable_and_Other_Shortt3
Notes Payable and Other Short-term Borrowings (Details Textual) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Notes Payable and Other Short-term Borrowings [Line Items] | ' |
Short Term Debt Fed Funds Rate | 0.25% |
Federal Reserve Bank Discount [Member] | ' |
Notes Payable and Other Short-term Borrowings [Line Items] | ' |
Line of Credit, Current | $10.80 |
Short-term Debt, Terms | '50 basis points over the fed funds rate. |
Bank Of America [Member] | ' |
Notes Payable and Other Short-term Borrowings [Line Items] | ' |
Line of Credit, Current | $15 |
Other_Noninterest_Expense_Deta
Other Noninterest Expense (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Other Noninterest Expense [Line Items] | ' | ' | ' | |||
Legal and other professional fees | $2,947 | $2,571 | $2,473 | |||
Marketing | 1,563 | 1,400 | 1,392 | |||
State franchise taxes | 2,323 | 2,495 | 2,010 | |||
REO expenses and write-downs | 1,584 | 1,121 | 2,453 | |||
Printing and office supplies | 449 | 527 | 502 | |||
Amortization of intangibles | 1,241 | 1,413 | 1,442 | |||
Postage | 531 | 567 | 674 | |||
Check charge-offs and fraud losses | 172 | 153 | 493 | |||
Credit and collection expense | 915 | 948 | 874 | |||
Other * | 5,315 | [1] | 7,090 | [1] | 4,318 | [1] |
Total other noninterest expense | $17,040 | $18,285 | $16,631 | |||
[1] | Included in Other for 2012 is $2.0 million in FHLB pre-payment penalties. |
Other_Noninterest_Expense_Deta1
Other Noninterest Expense (Details Textual) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2012 |
Other Non-Interest Expense [Line Items] | ' |
Federal Home Loan Bank Pre Payment Penalties | $2 |
Postretirement_Benefits_Detail
Postretirement Benefits (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Unrecognized prior service cost | $78 | $30 | $46 |
Unrecognized actuarial losses | 477 | 858 | 1,041 |
Total recognized in Accumulated Other Comprehensive Income | 555 | 888 | 1,087 |
Income tax effect | -194 | -311 | -380 |
Net amount recognized in Accumulated Other Comprehensive Income | $361 | $577 | $707 |
Postretirement_Benefits_Detail1
Postretirement Benefits (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Change in benefit obligation: | ' | ' | ' |
Benefit obligation at beginning of year | $3,140 | $3,117 | ' |
Service cost | 82 | 88 | 73 |
Interest cost | 118 | 120 | 128 |
Participant contribution | 25 | 16 | ' |
Actuarial (gains) / losses | -347 | -148 | ' |
Acquisition | 0 | 60 | ' |
Benefis paid | -139 | -113 | ' |
Benefit obligation at end of year | 2,878 | 3,140 | 3,117 |
Change in fair value of plan assets: | ' | ' | ' |
Balance at beginning of year | 0 | 0 | ' |
Employer contribution | 114 | 97 | ' |
Participant contribution | 25 | 16 | ' |
Benefis paid | -139 | -113 | ' |
Balance at end of year | 0 | 0 | 0 |
Funded status at end of year | ($2,878) | ($3,140) | ' |
Postretirement_Benefits_Detail2
Postretirement Benefits (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost-benefits attributable to service during the period | $82 | $88 | $73 |
Interest cost on accumulated postretirement benefit obligation | 118 | 120 | 128 |
Net amortization and deferral | 46 | 51 | 25 |
Net periodic postretirement benefit cost | 246 | 259 | 226 |
Net (gain) / loss during the year | -347 | -148 | 537 |
Impact of prior year acquisition | 60 | 0 | 0 |
Amortization of prior service cost and actuarial losses | -46 | -51 | -25 |
Total recognized in comprehensive income | -333 | -199 | 512 |
Total recognized in net periodic postretirement benefit cost and other comprehensive income | ($87) | $60 | $738 |
Postretirement_Benefits_Detail3
Postretirement Benefits (Details 3) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Weighted average discount rates: | ' | ' | ' |
Used to determine benefit obligations at December 31 | 4.75% | 4.00% | 4.25% |
Used to determine net periodic postretirement benefit cost for years ended December 31 | 4.00% | 4.25% | 5.25% |
Assumed health care cost trend rates at December 31: | ' | ' | ' |
Health care cost trend rate assumed for next year | 7.50% | 8.00% | 7.50% |
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | 5.00% | 5.00% | 4.00% |
Year that rate reaches ultimate trend rate | '2019 | '2019 | '2019 |
Postretirement_Benefits_Detail4
Postretirement Benefits (Details 4) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Defined Benefit Plan Disclosure [Line Items] | ' |
2014 | $140 |
2015 | 128 |
2016 | 132 |
2017 | 160 |
2018 | 153 |
2019 through 2023 | $892 |
Postretirement_Benefits_Detail5
Postretirement Benefits (Details 5) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Effect on total of service and interest cost, One-Percentage-Point Increase | $28 | $30 |
Effect on postretirement benefit obligation, One-Percentage-Point Increase | 351 | 406 |
Effect on total of service and interest cost, One-Percentage-Point Decrease | -24 | -25 |
Effect on postretirement benefit obligation, One-Percentage-Point Decrease | ($299) | ($344) |
Postretirement_Benefits_Detail6
Postretirement Benefits (Details Textual) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | ' |
Postretirement Benefits Description Of Medical Coverage | 'First Federal employees who retired prior to April 1, 1997 who completed 20 years of service after age 40 receive full medical coverage at no cost. |
Percentage Of Postretirement Benefits | 50.00% |
Percentage Of Eligible Coverage In Postretirement Benefits | 10.00% |
Maximum Medical Coverage | $200 |
Maximum Reimburse Medical Expenses | 10,000 |
Other Comprehensive Income Loss Defined Benefit Plan Expected To Be Recognized In Net Postretirement Benefit Cost Before Tax | 14,000 |
Other Comprehensive Income Loss Defined Benefit Plan Expected To Be Recognized In Net Postretirement Benefit Cost Net Of Tax | 9,000 |
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax, Total | 12,000 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit) Arising During Period, Net of Tax | 8,000 |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received | $140,000 |
Postretirement Benefits Description Of Medical Coverage One | 'First Federal employees who were born after December 31, 1950 are not eligible for the medical coverage described above at retirement. |
Regulatory_Matters_Details
Regulatory Matters (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Consolidated [Member] | ' | ' | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ||
Tier 1 Capital Actual (in dollars) | $246,258 | [1] | $226,931 | [2] |
Tier 1 Capital Minimum Required for Adequately Capitalized (in dollars) | 83,045 | [1] | 79,056 | [2] |
Tier 1 Capital Actual (Ratio) | 11.86% | [1] | 11.48% | [2] |
Tier 1 Capital Minimum Required for Adequately Capitalized (Ratio) | 4.00% | [1] | 4.00% | [2] |
Tier 1 Capital (to Risk Weighted Assets) Actual (in dollars) | 246,258 | [1] | 226,931 | [2] |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (in dollars) | 70,473 | [1] | 67,715 | [2] |
Tier 1 Capital (to Risk Weighted Assets) Actual (Ratio) | 13.98% | [1] | 13.41% | [2] |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (Ratio) | 4.00% | [1] | 4.00% | [2] |
Total Capital (to Risk Weighted Assets) Actual (in dollars) | 268,317 | [1] | 248,161 | [2] |
Total Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (in dollars) | 140,947 | [1] | 135,430 | [2] |
Total Capital (to Risk Weighted Assets) Actual (Ratio) | 15.23% | [1] | 14.66% | [2] |
Total Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (Ratio) | 8.00% | [1] | 8.00% | [2] |
First Federal [Member] | ' | ' | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' | ||
Tier 1 Capital Actual (in dollars) | 235,699 | [1] | 215,432 | [2] |
Tier 1 Capital Minimum Required for Adequately Capitalized (in dollars) | 82,978 | [1] | 78,914 | [2] |
Tier 1 Capital Minimum Required for Well Capitalized (in dollars) | 103,722 | [1] | 98,642 | [2] |
Tier 1 Capital Actual (Ratio) | 11.36% | [1] | 10.92% | [2] |
Tier 1 Capital Minimum Required for Adequately Capitalized (Ratio) | 4.00% | [1] | 4.00% | [2] |
Tier 1 Capital Minimum Required for Well Capitalized (Ratio) | 5.00% | [1] | 5.00% | [2] |
Tier 1 Capital (to Risk Weighted Assets) Actual (in dollars) | 235,699 | [1] | 215,432 | [2] |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (in dollars) | 70,418 | [1] | 67,632 | [2] |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (in dollars) | 105,627 | [1] | 101,448 | [2] |
Tier 1 Capital (to Risk Weighted Assets) Actual (Ratio) | 13.39% | [1] | 12.74% | [2] |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (Ratio) | 4.00% | [1] | 4.00% | [2] |
Tier 1 Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (Ratio) | 6.00% | [1] | 6.00% | [2] |
Total Capital (to Risk Weighted Assets) Actual (in dollars) | 257,741 | [1] | 236,635 | [2] |
Total Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (in dollars) | 140,836 | [1] | 135,264 | [2] |
Total Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (in dollars) | $176,046 | [1] | $169,080 | [2] |
Total Capital (to Risk Weighted Assets) Actual (Ratio) | 14.64% | [1] | 14.00% | [2] |
Total Capital (to Risk Weighted Assets) Minimum Required for Adequately Capitalized (Ratio) | 8.00% | [1] | 8.00% | [2] |
Total Capital (to Risk Weighted Assets) Minimum Required for Well Capitalized (Ratio) | 10.00% | [1] | 10.00% | [2] |
[1] | Core capital is computed as a percentage of adjusted total assets of $2.08 billion and $2.07 billion for consolidated and the bank, respectively. Risk-based capital is computed as a percentage of total risk-weighted assets of $1.76 billion and $1.76 billion for consolidated and First Federal, respectively. | |||
[2] | Core capital is computed as a percentage of adjusted total assets of $2.00 billion and $1.99 billion for consolidated and the bank, respectively. Risk-based capital is computed as a percentage of total risk-weighted assets of $1.64 billion and $1.64 billion for consolidated and First Federal, respectively. |
Regulatory_Matters_Details_Tex
Regulatory Matters (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
First Federal [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Adjusted Total Assets | $2,070,000,000 | $1,990,000,000 |
Risk Weighted Assets | 1,760,000,000 | 1,640,000,000 |
Proceeds from Dividends Received | 3,000,000 | 37,000,000 |
Dividends Receivable | 360,000 | 360,000 |
Consolidated [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Adjusted Total Assets | 2,080,000,000 | 2,000,000,000 |
Risk Weighted Assets | 1,760,000,000 | 1,640,000,000 |
First Insurance [Member] | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Proceeds from Dividends Received | $1,500,000 | $300,000 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal | ' | ' | ' | ' | ' | ' | ' | ' | $7,751 | $7,862 | $3,714 |
State and local | ' | ' | ' | ' | ' | ' | ' | ' | 9 | -50 | -91 |
Deferred | ' | ' | ' | ' | ' | ' | ' | ' | 1,518 | 200 | 3,042 |
Totals | $1,992 | $2,445 | $2,535 | $2,306 | $2,253 | $2,366 | $1,690 | $1,703 | $9,278 | $8,012 | $6,665 |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax expense at statutory rate (35%) | ' | ' | ' | ' | ' | ' | ' | ' | $11,030 | $9,337 | $7,769 |
Increases (decreases) in taxes from: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State income tax - net of federal tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 4 | -32 | -59 |
Tax exempt interest income, net of TEFRA | ' | ' | ' | ' | ' | ' | ' | ' | -1,043 | -1,047 | -926 |
Bank owned life insurance | ' | ' | ' | ' | ' | ' | ' | ' | -449 | -374 | -230 |
Stock option expense | ' | ' | ' | ' | ' | ' | ' | ' | 12 | 22 | 36 |
Captive insurance | ' | ' | ' | ' | ' | ' | ' | ' | -415 | 0 | 0 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 139 | 106 | 75 |
Totals | $1,992 | $2,445 | $2,535 | $2,306 | $2,253 | $2,366 | $1,690 | $1,703 | $9,278 | $8,012 | $6,665 |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred federal income tax assets: | ' | ' |
Allowance for loan losses | $8,798 | $9,349 |
Postretirement benefit costs | 1,013 | 1,078 |
Deferred compensation | 1,412 | 1,095 |
Impaired loans | 986 | 1,531 |
Capital loss carry-forward | 555 | 596 |
Impaired investments | 971 | 846 |
Accrued vacation | 581 | 499 |
Allowance for real estate held for sale losses | 277 | 484 |
Deferred loan origination fees and costs | 265 | 251 |
Other | 718 | 844 |
Total deferred federal income tax assets | 15,576 | 16,573 |
Deferred federal income tax liabilities: | ' | ' |
FHLB stock dividends | 3,238 | 3,259 |
Goodwill | 4,586 | 4,293 |
Mortgage servicing rights | 3,211 | 2,742 |
Fixed assets | 1,693 | 1,353 |
Other intangible assets | 607 | 954 |
Loan mark to market | 515 | 766 |
Net unrealized gains on available-for-sale securities | 488 | 2,612 |
Prepaid expenses | 617 | 464 |
Other | 56 | 52 |
Total deferred federal income tax liabilities | 15,011 | 16,495 |
Net deferred federal income tax asset (liability) | $565 | $78 |
Income_Taxes_Details_3
Income Taxes (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Unrecognized Tax Benefits, Beginning Balance | $65 | $141 | $281 |
Additions based on tax positions related to the current year | 0 | 0 | 0 |
Additions for tax positions of prior years | 0 | 0 | 0 |
Reductions for tax positions of prior years | 0 | 0 | 0 |
Reductions due to the statute of limitations | -65 | -76 | -140 |
Settlements | 0 | 0 | 0 |
Unrecognized Tax Benefits, Ending Balance | $0 | $65 | $141 |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Capital Loss Carryforwards | $1,700,000 | ' | ' |
Capital Loss Carryforwards Expiration Dates | 31-Dec-14 | ' | ' |
Tax Basis of Investments, Cost for Income Tax Purposes | 11,000,000 | ' | ' |
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Policyholders Surplus | 3,850,000 | ' | ' |
Income Tax Examination, Penalties and Interest Expense, Total | 26,000 | 22,000 | 14,000 |
Income Tax Examination, Penalties and Interest Accrued, Total | $0 | $26,000 | $73,000 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | ' | ' |
Employee_Benefit_Plans_Details
Employee Benefit Plans (Details Textal) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Employee Contribution Plan Description | ' | ' | ' | 'First Defiance matches 100% of the participants contributions up to 3% of compensation and then 50% of the participants contributions for the next 2% of compensation. Previously, matching contributions were 50% of the first 3% of participants contributions. |
Employee Benefits Plans Contribution | $868,000 | $799,000 | $717,000 | ' |
Liability for Future Policy Benefits, Period Expense (Income) | -35,000 | 76,000 | 137,000 | ' |
Liability for Future Policy Benefits, Total | $724,000 | $760,000 | $683,000 | ' |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.75% | ' | ' | ' |
Stock_Compensation_Plans_Detai
Stock Compensation Plans (Details) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
Options outstanding, January 1, 2013 | 312,350 |
Options Outstanding, Forfeited or cancelled | -22,000 |
Options Outstanding, Exercised | -39,330 |
Options Outstanding, Granted | 0 |
Options outstanding, December 31, 2013 | 251,020 |
Options Outstanding, Vested or expected to vest at December 31, 2013 | 251,020 |
Options Outstanding, Exercisable at December 31, 2013 | 240,350 |
Weighted Average Exercise Price, Outstanding, January 1, 2013 | $20.33 |
Weighted Average Exercise Price, Forfeited or cancelled | $22.31 |
Weighted Average Exercise Price, Exercised | $16.55 |
Weighted Average Exercise Price, Granted | $0 |
Weighted Average Exercise Price, Outstanding, December 31, 2013 | $20.75 |
Weighted Average Exercise Price, Vested or expected to vest at December 31, 2013 | $20.75 |
Weighted Average Exercise Price, Exercisable at December 31, 2013 | $21.26 |
Weighted Average Remaining Contractual Term (in years), Outstanding, December 31, 2013 | '3 years 1 month 28 days |
Weighted Average Remaining Contractual Term (in years), Vested or expected to vest at December 31, 2013 | '3 years 1 month 28 days |
Weighted Average Remaining Contractual Term (in years), Exercisable at December 31, 2013 | '3 years 22 days |
Aggregate Intrinsic Value, Outstanding, December 31, 2013 | $1,415 |
Aggregate Intrinsic Value, Vested or expected to vest at December 31, 2013 | 1,415 |
Aggregate Intrinsic Value, Exercisable at December 31, 2013 | $1,239 |
Stock_Compensation_Plans_Detai1
Stock Compensation Plans (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Intrinsic value of options exercised | $310 | $4 | $1 |
Cash received from option exercises | 350 | 4 | 11 |
Tax benefit realized from option exercises | $54 | $0 | $0 |
Weighted average fair value of options granted | $0 | $0 | $0 |
Stock_Compensation_Plans_Detai2
Stock Compensation Plans (Details 2) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' |
Shares, Unvested at January 1, 2013 | 38,871 |
Shares, Granted | 91,187 |
Shares, Vested | -20,639 |
Shares, Forfeited | -3,358 |
Shares, Unvested at December 31, 2013 | 106,061 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2013 | $14.74 |
Weighted-Average Grant Date Fair Value, Granted | $19.42 |
Weighted-Average Grant Date Fair Value, Vested | $15.77 |
Weighted-Average Grant Date Fair Value, Forfeited | $11.97 |
Weighted -Average Grant Date Fair Value, Unvested at December 31, 2013 | $18.66 |
Stock Grants [Member] | ' |
Shares, Unvested at January 1, 2013 | 11,260 |
Shares, Granted | 20,639 |
Shares, Vested | -31,899 |
Shares, Forfeited | 0 |
Shares, Unvested at December 31, 2013 | 0 |
Weighted-Average Grant Date Fair Value, Unvested at January 1, 2013 | $13.28 |
Weighted-Average Grant Date Fair Value, Granted | $15.77 |
Weighted-Average Grant Date Fair Value, Vested | $14.89 |
Weighted-Average Grant Date Fair Value, Forfeited | $0 |
Weighted -Average Grant Date Fair Value, Unvested at December 31, 2013 | $0 |
Stock_Compensation_Plans_Detai3
Stock Compensation Plans (Details Textual) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 15, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | |
Short-term Equity Incentive Plan 2013 [Member] | Equity Plan 2010 [Member] | Equity Plan 2010 [Member] | Long-term Equity Incentive Plan 2013 [Member] | Restricted Stock Units (Rsus) [Member] | Restricted Stock Units (Rsus) [Member] | Short-term and Long-term Equity Incentive Plan 2011 [Member] | Short-term and Long-term Equity Incentive Plan 2011 [Member] | Stock Option Grant, 2009 [Member] | Stock Option Grant, 2011 [Member] | Stock Option Grant, Annual [Member] | Short Term Equity Incentive Plan 2011 [Member] | Long Term Equity Incentive Plan 2011 [Member] | Long Term Equity Incentive Plan 2011 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | 350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 251,020 | 312,350 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Vested Percentage, Year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 40.00% | 20.00% | ' | ' | ' |
Stock Option Period, Description | ' | ' | ' | ' | 'All options expire ten years from the date of grant. Vested options of retirees expire on the earlier of the scheduled expiration date or three months after the retirement date. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate, Range Minimum | ' | ' | ' | 25.00% | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | 25.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate, Range Maximum | ' | ' | ' | 45.00% | ' | ' | 45.00% | ' | ' | ' | ' | ' | ' | ' | 45.00% | ' | 45.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | ' | ' | ' | ' | ' | 86,065 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Option Subscription, Description | ' | ' | ' | ' | ' | ' | 'The amount of benefit under the 2013 LTIP will be determined individually at the 12 month period ending December 31, 2013, the 24 month period ending December 31, 2014 and the 36 month period ending December 31, 2015. The awards vesting will be as follows: 16.7% of the target award after the end of the performance period ending December 31, 2013, 27.8% of the target award at the end of the performance period ending December 31, 2014 and 55.5% of the target award at the end of the performance period ending December 31, 2015. The RSUs shall vest between 0% and 100% of the applicable portion of the target award based on the portion of the performance targets that are achieved. RSUs settle in common shares in the first quarter following the close of the applicable performance period. The participants are required to be employed on the day of payout in order to receive the payment. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | $6,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share Based Compensation Nonvested Awards, Total Compensation Cost Not Yet Recognized, Period For Recognition (in years) | '3 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | ' | ' | ' | ' | ' | ' | ' | 106,061 | 38,871 | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | 1,000,000 | 677,000 | 492,000 | ' | ' | ' | ' | ' | ' | 540,000 | 530,000 | ' | ' | ' | ' | ' | ' |
Compensation Expense, Maximum | 2,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated Compensation Expense, Excepted | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized Compensation Expense | $787,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 202,405 | 290,234 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Parent_Company_Statements_Deta
Parent Company Statements (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ' | ' |
Cash and cash equivalents | $179,318 | $136,832 | $174,931 | $169,164 |
Other assets | 7,663 | 9,174 | ' | ' |
Total assets | 2,137,148 | 2,046,948 | ' | ' |
Liabilities and stockholders' equity | ' | ' | ' | ' |
Stockholders’ equity | 272,147 | 258,128 | ' | ' |
Total liabilities and stockholders’ equity | 2,137,148 | 2,046,948 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 8,228 | 8,884 | ' | ' |
Available for Sale Securities | 0 | 1,002 | ' | ' |
Investment in banking subsidiary | 285,813 | 270,444 | ' | ' |
Investment in non-bank subsidiaries | 13,518 | 13,034 | ' | ' |
Other assets | 1,774 | 1,766 | ' | ' |
Total assets | 309,333 | 295,130 | ' | ' |
Liabilities and stockholders' equity | ' | ' | ' | ' |
Subordinated debentures | 36,083 | 36,083 | ' | ' |
Accrued liabilities | 1,103 | 919 | ' | ' |
Stockholders’ equity | 272,147 | 258,128 | ' | ' |
Total liabilities and stockholders’ equity | $309,333 | $295,130 | ' | ' |
Parent_Company_Statements_Deta1
Parent Company Statements (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ($1,727) | ($1,680) | ($1,814) | ($1,949) | ($2,186) | ($2,923) | ($3,273) | ($3,555) | ($7,170) | ($11,937) | ($17,186) |
Noninterest expense | -15,926 | -16,045 | -15,674 | -17,199 | -17,539 | -16,450 | -15,532 | -16,259 | -64,844 | -65,780 | -62,764 |
Income (loss) before income taxes and equity inearnings of subsidiaries | 7,080 | 7,924 | 8,644 | 7,865 | 7,409 | 7,800 | 5,611 | 5,856 | 31,513 | 26,676 | 22,199 |
Net income | 5,088 | 5,479 | 6,109 | 5,559 | 5,156 | 5,434 | 3,921 | 4,153 | 22,235 | 18,664 | 15,534 |
Comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | 18,506 | 18,941 | 19,873 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends from subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 4,500 | 37,300 | 0 |
Interest on investments | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 12 | 8 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -601 | -971 | -1,278 |
Other income | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 0 | 1 |
Noninterest expense | ' | ' | ' | ' | ' | ' | ' | ' | -853 | -1,013 | -690 |
Income (loss) before income taxes and equity inearnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 3,065 | 35,328 | -1,959 |
Income tax credit | ' | ' | ' | ' | ' | ' | ' | ' | -415 | -669 | -665 |
Income (loss) before equity in earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 3,480 | 35,997 | -1,294 |
Undistributed equity in (distributions in excess of)earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 18,755 | -17,333 | 16,828 |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 22,235 | 18,664 | 15,534 |
Comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | $18,506 | $18,941 | $19,873 |
Parent_Company_Statements_Deta2
Parent Company Statements (Details 2) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $5,088 | $5,479 | $6,109 | $5,559 | $5,156 | $5,434 | $3,921 | $4,153 | $22,235 | $18,664 | $15,534 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash provided by (used in) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 39,363 | 31,910 | 38,739 |
Investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of available-for-sale securities | ' | ' | ' | ' | ' | ' | ' | ' | 49,230 | 91,513 | 120,499 |
Sale of available-for-sale securities | ' | ' | ' | ' | ' | ' | ' | ' | 4,027 | 72,262 | 8,719 |
Net cash (used in) provided by investing activities | ' | ' | ' | ' | ' | ' | ' | ' | -69,872 | -24,172 | -40,949 |
Financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' | ' | ' | ' | ' | -1,821 | 0 | 0 |
Stock Options Exercised | ' | ' | ' | ' | ' | ' | ' | ' | 350 | 4 | 11 |
Treasury stock sales | ' | ' | ' | ' | ' | ' | ' | ' | 64 | 14 | 29 |
Proceeds from issuance of common stock | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 19,859 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 72,995 | -45,837 | 7,977 |
Net increase (decrease) in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | 42,486 | -38,099 | 5,767 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | ' | 22,235 | 18,664 | 15,534 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution in excess of (undistributed equity in) earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -18,755 | 17,333 | -16,828 |
Change in other assets and liabilities | ' | ' | ' | ' | ' | ' | ' | ' | 176 | 97 | 109 |
Net cash provided by (used in) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 3,656 | 36,094 | -1,185 |
Investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in non-bank subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -250 | -4,785 |
Purchase of available-for-sale securities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -2,000 |
Sale of available-for-sale securities | ' | ' | ' | ' | ' | ' | ' | ' | 1,002 | 1,000 | 0 |
Net cash (used in) provided by investing activities | ' | ' | ' | ' | ' | ' | ' | ' | 1,002 | 750 | -6,785 |
Financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' | ' | ' | ' | ' | -1,821 | 0 | 0 |
Cash dividends paid | ' | ' | ' | ' | ' | ' | ' | ' | -3,907 | -3,086 | -2,331 |
Stock Options Exercised | ' | ' | ' | ' | ' | ' | ' | ' | 350 | 4 | 11 |
Treasury stock sales | ' | ' | ' | ' | ' | ' | ' | ' | 64 | 14 | 29 |
Proceeds from issuance of common stock | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 19,859 |
Preferred Stock payoff | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -36,358 | 0 |
Net cash used in financing activities | ' | ' | ' | ' | ' | ' | ' | ' | -5,314 | -39,426 | 17,568 |
Net increase (decrease) in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | -656 | -2,582 | 9,598 |
Cash and cash equivalents at beginning of year | ' | ' | ' | 8,884 | ' | ' | ' | 11,466 | 8,884 | 11,466 | 1,868 |
Cash and cash equivalents at end of year | $8,228 | ' | ' | ' | $8,884 | ' | ' | ' | $8,228 | $8,884 | $11,466 |
Fair_Value_Details
Fair Value (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | $198,170 | $194,101 |
US Government Corporations and Agencies Securities [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 4,921 | 11,069 |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 4,921 | 11,069 |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
US Treasury Securities [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | ' | 1,002 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | ' | 0 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | ' | 1,002 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | ' | 0 |
Residential Mortgage Backed Securities [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 41,292 | 31,461 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 41,292 | 31,461 |
Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 59,841 | 57,466 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 59,841 | 57,466 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
Trust Preferred Stock [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 2,236 | 1,474 |
Trust Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 1,654 | 0 |
Trust Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
Trust Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 582 | 1,474 |
Preferred Stock [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 718 | 134 |
Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 718 | 134 |
Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
Corporate Bond Securities [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 8,942 | 8,884 |
Corporate Bond Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
Corporate Bond Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 8,942 | 8,884 |
Corporate Bond Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 80,220 | 82,611 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 80,220 | 82,611 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | ' | 0 |
Mortgage Banking Derivative Asset [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 295 | 950 |
Mortgage Banking Derivative Asset [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage Banking Derivative Asset [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 295 | 950 |
Mortgage Banking Derivative Asset [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage Banking Derivative Liability [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | -94 |
Mortgage Banking Derivative Liability [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | 0 |
Mortgage Banking Derivative Liability [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | 0 | -94 |
Mortgage Banking Derivative Liability [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Available for sale securities: | ' | ' |
Available for sale securities, Total Fair Value | $0 | $0 |
Fair_Value_Details_1
Fair Value (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Beginning balance | $1,474 | $1,342 |
Total gains or losses (realized/unrealized) | ' | ' |
Total gains or losses (realized/unrealized) Included in earnings (realized/unrealized) | -337 | 76 |
Total gains or losses (realized/unrealized) Included in other comprehensive income (presented gross of taxes) | 1,099 | 322 |
Amortization | 0 | 0 |
Redemption | 0 | -266 |
Transfers in and/or out of Level 3 | -1,654 | 0 |
Ending balance | $582 | $1,474 |
Fair_Value_Details_2
Fair Value (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Interest income on securities | $83 | $160 | $71 |
Other changes in fair value | -420 | -84 | -73 |
Total | ($337) | $76 | ($2) |
Fair_Value_Details_3
Fair Value (Details 3) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Impaired loans | ' | ' |
Total impaired loans | $10,718 | $14,071 |
Mortgage servicing rights | 1,370 | 7,833 |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | 1,390 | 446 |
One To Four Family Residential Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 259 | 599 |
Multi Family Residential Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 338 | 407 |
Commercial Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 9,590 | 12,126 |
Home Equity and Home Improvement [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 531 | 168 |
Residential Mortgage [Member] | ' | ' |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | 112 | 61 |
Commercial Loan [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | ' | 771 |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | 1,278 | 385 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | One To Four Family Residential Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Multi Family Residential Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Commercial Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Home Equity and Home Improvement [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Residential Mortgage [Member] | ' | ' |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Commercial Loan [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | ' | 0 |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 0 | 0 |
Mortgage servicing rights | 1,370 | 7,833 |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | One To Four Family Residential Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Multi Family Residential Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Commercial Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Home Equity and Home Improvement [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage [Member] | ' | ' |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Commercial Loan [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | ' | 0 |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 10,718 | 14,071 |
Mortgage servicing rights | 0 | 0 |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | 1,390 | 446 |
Fair Value, Inputs, Level 3 [Member] | One To Four Family Residential Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 259 | 599 |
Fair Value, Inputs, Level 3 [Member] | Multi Family Residential Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 338 | 407 |
Fair Value, Inputs, Level 3 [Member] | Commercial Real Estate [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 9,590 | 12,126 |
Fair Value, Inputs, Level 3 [Member] | Home Equity and Home Improvement [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | 531 | 168 |
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage [Member] | ' | ' |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | 112 | 61 |
Fair Value, Inputs, Level 3 [Member] | Commercial Loan [Member] | ' | ' |
Impaired loans | ' | ' |
Total impaired loans | ' | 771 |
Real estate held for sale | ' | ' |
Total Real Estate held for sale | $1,278 | $385 |
Fair_Value_Details_4
Fair Value (Details 4) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Trust preferred stock, Fair Value | $582 | $1,474 | $1,342 |
Impaired Loans- Applies to all loan classes, Fair Value | 10,718 | 14,071 | ' |
Real estate held for sale - Applies to all classes, Fair Value | $1,390 | $446 | ' |
Valuation Technique, Fair Value | 'Valuation Technique | 'Valuation Technique | ' |
Unobservable Inputs, Fair Value | 'Unobservable Inputs | 'Unobservable Inputs | ' |
Range of Input 2-40% [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Valuation Technique, Fair Value | 'Discounted cash flow | 'Discounted cash flow | ' |
Unobservable Inputs, Fair Value | 'Constant prepayment rate | 'Constant prepayment rate | ' |
Fair Value, Range of Input, Minimum | 2.00% | 2.00% | ' |
Fair Value, Range of Input, Maximum | 40.00% | 40.00% | ' |
Fair Value Measurement Weighted Average Range | 40.00% | 40.00% | ' |
Range of Input 0-30% [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Unobservable Inputs, Fair Value | 'Expected asset default | 'Expected asset default | ' |
Fair Value, Range of Input, Minimum | 0.00% | 0.00% | ' |
Fair Value, Range of Input, Maximum | 30.00% | 30.00% | ' |
Fair Value Measurement Weighted Average Range | 15.00% | 15.00% | ' |
Range Of Input 10-15 [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Unobservable Inputs, Fair Value | 'Expected recoveries | 'Expected recoveries | ' |
Fair Value, Range of Input, Minimum | 10.00% | 10.00% | ' |
Fair Value, Range of Input, Maximum | 15.00% | 15.00% | ' |
Fair Value Measurement Weighted Average Range | 10.00% | 10.00% | ' |
Range of Input 0-10% [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Valuation Technique, Fair Value | 'Appraisals which utilize sales comparison, net income and cost approach | 'Appraisals which utilize sales comparison, net income and cost approach | ' |
Unobservable Inputs, Fair Value | 'Discounts for collection issues and changes in market conditions | 'Discounts for collection issues and changes in market conditions | ' |
Fair Value, Range of Input, Minimum | 0.00% | 0.00% | ' |
Fair Value, Range of Input, Maximum | 10.00% | 10.00% | ' |
Fair Value Measurement Weighted Average Range | 10.00% | 10.00% | ' |
Range of Input 0-20% [Member] | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Valuation Technique, Fair Value | 'Appraisals which utilize sales comparison, net income and cost approach | 'Appraisals which utilize sales comparison, net income and cost approach | ' |
Unobservable Inputs, Fair Value | 'Discounts for changes in market conditions | 'Discounts for changes in market conditions | ' |
Fair Value, Range of Input, Minimum | 0.00% | 0.00% | ' |
Fair Value, Range of Input, Maximum | 20.00% | 20.00% | ' |
Fair Value Measurement Weighted Average Range | 20.00% | 20.00% | ' |
Fair_Value_Details_5
Fair Value (Details 5) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Financial Assets, Carrying Value: | ' | ' | ' | ' |
Cash and cash equivalents, Carrying Value | $179,318 | $136,832 | $174,931 | $169,164 |
Investment securities, Carrying Value | 198,557 | 194,609 | ' | ' |
Federal Home Loan Bank stock, Carrying Value | 19,350 | 20,655 | ' | ' |
Loans, net, including loans held for sale, Carrying Value | 1,564,618 | 1,520,610 | ' | ' |
Accrued interest receivable, Carrying Value | 5,778 | 5,594 | ' | ' |
Financial Liabilities, Carrying Value: | ' | ' | ' | ' |
Deposits, Carrying Value | 1,735,792 | 1,667,472 | ' | ' |
Advances from Federal Home Loan Bank, Carrying Value | 22,520 | 12,796 | ' | ' |
Securities sold under repurchase agreements, Carrying Value | 51,919 | 51,702 | ' | ' |
Subordinated debentures, Carrying Value | 36,083 | 36,083 | ' | ' |
Financial Assets, Fair Value: | ' | ' | ' | ' |
Cash and cash equivalents, Fair Value | 179,318 | 136,832 | ' | ' |
Investment securities, Fair Value | 198,563 | 194,617 | ' | ' |
Loans, net, including loans held for sale, Fair Value | 1,568,929 | 1,543,438 | ' | ' |
Accrued interest receivable, Fair Value | 5,778 | 5,594 | ' | ' |
Financial Liabilities, Fair Value: | ' | ' | ' | ' |
Deposits, Fair Value | 1,738,216 | 1,671,713 | ' | ' |
Advances from Federal Home Loan Bank, Fair Value | 22,713 | 13,466 | ' | ' |
Securities sold under repurchase agreements, Fair Value | 51,919 | 51,702 | ' | ' |
Subordinated debentures, Fair Value | 35,237 | 35,766 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' |
Financial Assets, Fair Value: | ' | ' | ' | ' |
Cash and cash equivalents, Fair Value | 179,318 | 136,832 | ' | ' |
Investment securities, Fair Value | 2,372 | 134 | ' | ' |
Loans, net, including loans held for sale, Fair Value | 0 | 0 | ' | ' |
Accrued interest receivable, Fair Value | 4 | 0 | ' | ' |
Financial Liabilities, Fair Value: | ' | ' | ' | ' |
Deposits, Fair Value | 348,943 | 315,132 | ' | ' |
Advances from Federal Home Loan Bank, Fair Value | 0 | 0 | ' | ' |
Securities sold under repurchase agreements, Fair Value | 0 | 0 | ' | ' |
Subordinated debentures, Fair Value | 0 | 0 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' |
Financial Assets, Fair Value: | ' | ' | ' | ' |
Cash and cash equivalents, Fair Value | 0 | 0 | ' | ' |
Investment securities, Fair Value | 195,609 | 193,009 | ' | ' |
Loans, net, including loans held for sale, Fair Value | 9,140 | 22,577 | ' | ' |
Accrued interest receivable, Fair Value | 696 | 757 | ' | ' |
Financial Liabilities, Fair Value: | ' | ' | ' | ' |
Deposits, Fair Value | 1,389,273 | 1,356,581 | ' | ' |
Advances from Federal Home Loan Bank, Fair Value | 22,713 | 13,466 | ' | ' |
Securities sold under repurchase agreements, Fair Value | 51,919 | 51,702 | ' | ' |
Subordinated debentures, Fair Value | 0 | 0 | ' | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' |
Financial Assets, Fair Value: | ' | ' | ' | ' |
Cash and cash equivalents, Fair Value | 0 | 0 | ' | ' |
Investment securities, Fair Value | 582 | 1,474 | ' | ' |
Loans, net, including loans held for sale, Fair Value | 1,559,789 | 1,520,861 | ' | ' |
Accrued interest receivable, Fair Value | 5,078 | 4,837 | ' | ' |
Financial Liabilities, Fair Value: | ' | ' | ' | ' |
Deposits, Fair Value | 0 | 0 | ' | ' |
Advances from Federal Home Loan Bank, Fair Value | 0 | 0 | ' | ' |
Securities sold under repurchase agreements, Fair Value | 0 | 0 | ' | ' |
Subordinated debentures, Fair Value | $35,237 | $35,766 | ' | ' |
Fair_Value_Details_Textual
Fair Value (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | ' | ' |
Impaired Financing Receivable, Recorded Investment | $10,718,000 | $14,071,000 |
Impaired Financing Receivables, Provisional Expenses | 3,200,000 | 6,300,000 |
Mortgage Servicing Rights at Fair Value | 1,370,000 | 7,833,000 |
Valuation Allowance of Mortgage Servicing Rights | 1,000,000 | 2,300,000 |
Proceeds from Collection of Loans Receivable | 1,300,000 | ' |
Real Estate Held-for-sale, Increase (Decrease) in Fair Value | 740,000 | 416,000 |
Charge of Mortgage Servicing Rights | ' | 759,000 |
Trust preferred stock transferred from level 3 to level | $1,654,000 | ' |
Minimum [Member] | Real Estate held for sale [Member] | ' | ' |
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | ' | ' |
Fair Value Inputs, Discount Rate | 0.00% | ' |
Maximum [Member] | Real Estate held for sale [Member] | ' | ' |
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items] | ' | ' |
Fair Value Inputs, Discount Rate | 20.00% | ' |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives not designated as hedging instruments | ' | ' |
Mortgage Banking Derivatives Assets, Carrying Value | $295 | $950 |
Mortgage Banking Derivatives Liabilities, Carrying Value | 0 | -94 |
Mortgage Banking Derivatives, Net Carrying Value | $295 | $856 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivatives not designated as hedging instruments | ' | ' | ' |
Mortgage Banking Derivatives - Gain (Loss) | ($526) | $249 | $252 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Interest Rate Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net | $7,500,000 | ' | $34,000,000 |
Notional Amount of Interest Rate Derivative Instruments Not Designated as Hedging Instruments | 12,100,000 | ' | 53,600,000 |
Gain (Loss) on Interest Rate Fair Value Hedge Ineffectiveness | $34,000 | $90,000 | ' |
Quarterly_Consolidated_Results2
Quarterly Consolidated Results of Operations (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest income | $18,737 | $18,836 | $18,732 | $18,476 | $19,572 | $20,098 | $20,519 | $20,754 | $74,781 | $80,943 | $87,067 |
Interest expense | 1,727 | 1,680 | 1,814 | 1,949 | 2,186 | 2,923 | 3,273 | 3,555 | 7,170 | 11,937 | 17,186 |
Net interest income | 17,010 | 17,156 | 16,918 | 16,527 | 17,386 | 17,175 | 17,246 | 17,199 | 67,611 | 69,006 | 69,881 |
Provision for loan losses | 475 | 476 | 448 | 425 | 2,619 | 705 | 4,097 | 3,503 | 1,824 | 10,924 | 12,434 |
Net interest income after provision for loan losses | 16,535 | 16,680 | 16,470 | 16,102 | 14,767 | 16,470 | 13,149 | 13,696 | 65,787 | 58,082 | 57,447 |
Gain on sale, call or write-down of securities | -337 | 0 | 44 | 53 | 1,606 | 103 | 382 | 43 | 97 | 2,139 | 218 |
Noninterest income | 6,808 | 7,289 | 7,804 | 8,909 | 8,575 | 7,677 | 7,612 | 8,376 | 30,570 | 34,374 | 27,516 |
Noninterest expense | 15,926 | 16,045 | 15,674 | 17,199 | 17,539 | 16,450 | 15,532 | 16,259 | 64,844 | 65,780 | 62,764 |
Income before income taxes | 7,080 | 7,924 | 8,644 | 7,865 | 7,409 | 7,800 | 5,611 | 5,856 | 31,513 | 26,676 | 22,199 |
Income taxes | 1,992 | 2,445 | 2,535 | 2,306 | 2,253 | 2,366 | 1,690 | 1,703 | 9,278 | 8,012 | 6,665 |
Net income | 5,088 | 5,479 | 6,109 | 5,559 | 5,156 | 5,434 | 3,921 | 4,153 | 22,235 | 18,664 | 15,534 |
Dividends declared on Preferred Shares | 0 | 0 | 0 | 0 | 0 | -3 | -435 | -462 | ' | 900 | 1,850 |
Accretion on Preferred Shares | 0 | 0 | 0 | 0 | 0 | -8 | -305 | -46 | 0 | 359 | 178 |
Redemption of Preferred Shares | ' | ' | ' | ' | 0 | 0 | 642 | 0 | 0 | -642 | 0 |
Net income applicable tocommon shares | $5,088 | $5,479 | $6,109 | $5,559 | $5,156 | $5,423 | $3,823 | $3,645 | $22,235 | $18,047 | $13,506 |
Earnings per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.52 | $0.56 | $0.63 | $0.57 | $0.53 | $0.56 | $0.39 | $0.37 | $2.28 | $1.86 | $1.44 |
Diluted | $0.50 | $0.54 | $0.60 | $0.55 | $0.52 | $0.54 | $0.38 | $0.37 | $2.19 | $1.81 | $1.42 |
Average shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | 9,766 | 9,780 | 9,774 | 9,736 | 9,729 | 9,729 | 9,729 | 9,726 | 9,764 | 9,728 | 9,371 |
Diluted | 10,198 | 10,212 | 10,156 | 10,105 | 10,012 | 10,000 | 9,985 | 9,970 | 407 | 270 | 169 |
Preferred_Stock_Details_Textua
Preferred Stock (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||
Dec. 05, 2008 | Oct. 14, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 18, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 05, 2008 | Dec. 05, 2008 | Dec. 05, 2008 | Dec. 05, 2008 | |
Preferred Stock [Member] | Preferred Stock [Member] | Us Treasury [Member] | Us Treasury [Member] | Us Treasury [Member] | Us Treasury [Member] | Cumulative Preferred Stock [Member] | Cumulative Preferred Stock [Member] | Cumulative Preferred Stock [Member] | Cumulative Preferred Stock [Member] | First Five Years [Member] | AfterFiveYears [Member] | Senior Preferred Shares [Member] | ||||||||
Preferred Stock [Member] | Retained Earnings [Member] | |||||||||||||||||||
Preferred Stock, Shares Authorized | ' | ' | ' | ' | ' | 37,000 | ' | 4,963,000 | 4,963,000 | ' | ' | ' | ' | 37,000 | 37,000 | 37,000 | 37,000,000 | ' | ' | ' |
Preferred Stock, Par Or Stated Value Per Share | ' | ' | ' | ' | ' | ' | ' | $0.01 | $0.01 | ' | ' | ' | ' | $0.01 | $0.01 | ' | $0.01 | ' | ' | ' |
Preferred Stock, Liquidation Preference, Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | $1,000 |
Stock Repurchased During Period Value Two | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Issued To Acquire Additional Of Common Share | 550,595 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Issued To Acquire Additional Of Common Shares Exercise Pric | $10.08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Issued To Acquire Additional Of Common Shares Term | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Dividend Rate, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 9.00% | ' |
Common Stock, Dividends, Per Share, Declared | ' | $0.26 | $0.40 | $0.20 | $0.05 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock Clearing Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | $962.66 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional Preferred Shares | ' | ' | ' | ' | ' | ' | 19,440 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased During Period Shares1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased During Period Value One | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 997.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased During Period Shares2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased During Period Shares3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,840 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased During Period Value Three | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 998.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased During Period, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,560 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders Equity Attributable to Parent | ' | ' | 272,147,000 | 258,128,000 | ' | ' | ' | ' | ' | ' | 642,000,000,000 | 36,400,000 | 37,000,000 | ' | ' | ' | ' | ' | ' | ' |
Deferred Offering Costs | ' | ' | ' | $181,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance_Sheet_Restructure_Deta
Balance Sheet Restructure (Details Textual) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities | $198,170,000 | ' | ' | ' | $194,101,000 | ' | ' | ' | $198,170,000 | $194,101,000 | ' |
Gain (Loss) On Sale Of Securities, Net | -337,000 | 0 | 44,000 | 53,000 | 1,606,000 | 103,000 | 382,000 | 43,000 | 97,000 | 2,139,000 | 218,000 |
Balance Sheet Restructuring [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss On Sale Of Securities After Tax Adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 260,000 | ' | ' |
Available-for-sale Securities | 60,000,000 | ' | ' | ' | ' | ' | ' | ' | 60,000,000 | ' | ' |
Gain (Loss) On Sale Of Securities, Net | ' | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances | 62,000,000 | ' | ' | ' | ' | ' | ' | ' | 62,000,000 | ' | ' |
Prepaid Penalty | $2,000,000 | ' | ' | ' | ' | ' | ' | ' | $2,000,000 | ' | ' |
Other_Comprehensive_Income_Los2
Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Securities available for sale and transferred securities: Before Tax Amount | ' | ' | ' |
Change in net unrealized gain/loss during the period, Before Tax Amount | ($6,309) | $2,360 | $7,404 |
Reclassification adjustment for net (gains) losses included in net income, Before Tax Amount | -97 | -2,139 | -218 |
Change in postretirement benefit obligation, Before Tax Amount | 333 | 199 | ' |
Total other comprehensive income (loss), Before Tax Amount | -5,736 | 425 | ' |
Securities available for sale and transferred securities: Tax Expense (Benefit) | ' | ' | ' |
Change in net unrealized gain/loss during the period, Tax Expense (Benefit) | -2,216 | 846 | ' |
Reclassification adjustment for net (gains) losses included in net income, Tax Expense (Benefit) | 92 | -767 | ' |
Change in postretirement benefit obligation, Tax Expense (Benefit) | 117 | 69 | -179 |
Total other comprehensive income (loss), Tax Expense (Benefit) | -2,007 | 148 | ' |
Securities available for sale and transferred securities: Net of Tax Amount | ' | ' | ' |
Change in net unrealized gain/loss during the period, Net of Tax Amount | -4,093 | 1,514 | ' |
Reclassification adjustment for net (gains) losses included in net income, Net of Tax Amount | 148 | -1,367 | ' |
Change in postretirement benefit obligation,Net of Tax Amount | 216 | 130 | ' |
Total other comprehensive income (loss), Net of Tax Amount | ($3,729) | $277 | $4,339 |
Other_Comprehensive_Income_Los3
Other Comprehensive Income (Loss) (Details 1) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Securities Available For Sale, Beginning balance | $4,851 | $4,704 |
Securities Available For Sale, Other comprehensive loss before reclassifications | -4,093 | 1,514 |
Securities Available For Sale, Amounts reclassified from accumulated other comprehensive loss | 148 | -1,367 |
Securities Available For Sale, Net other comprehensive loss during period | -3,945 | 147 |
Securities Available For Sale, Ending balance | 906 | 4,851 |
Post-retirement Benefit, Beginning balance | -577 | -707 |
Post-retirement Benefit, Other comprehensive loss before reclassifications | 216 | 130 |
Post-retirement Benefit, Amounts reclassified from accumulated other comprehensive loss | 0 | 0 |
Post-retirement Benefit, Net other comprehensive loss during period | 216 | 130 |
Post-retirement Benefit, Ending balance | -361 | -577 |
Accumulated Other Comprehensive Income, Beginning balance | 4,274 | 3,997 |
Accumulated Other Comprehensive Income, Other comprehensive loss before reclassifications | -3,877 | 1,644 |
Accumulated Other Comprehensive Income, Amounts reclassified from accumulated other comprehensive loss | 148 | -1,367 |
Accumulated Other Comprehensive Income, Net other comprehensive loss during period | -3,729 | 277 |
Accumulated Other Comprehensive Income, Ending balance | $545 | $4,274 |
Subsequent_Event_Details_Textu
Subsequent Event (Details Textual) (Subsequent Event [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Subsequent Event [Line Items] | ' |
Business Acquisition, Date of Acquisition Agreement | 18-Feb-14 |
Business Acquisition, Name of Acquired Entity | 'First Community Bank (FCB”) |
First Community Bank [Member] | ' |
Subsequent Event [Line Items] | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total | 101.4 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loans | 65.4 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deposits | 90.5 |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | 10.6 |
Payments To Acquire Outstanding Shares | 12.9 |